Chinese firm Didi’s $4b IPO books covered on first day of bookbuild

An initial public offer (IPO) by China’s Didi Global Inc in New York to raise up to $4 billion has been fully covered on the first day of its bookbuild, even as some investors fear tougher rules could hit growth, sources with direct knowledge said.
26 June 2021, 18:00 PM

Italy’s consumer confidence up to near three-year high

Consumer confidence in Italy jumped to the highest level in nearly three years in June, while business confidence also rose sharply, official data showed Friday.
26 June 2021, 18:00 PM

Reducing oil use to meet climate targets is tougher than cutting supply

Governments around the world have been slow to take uncomfortable decisions to persuade consumers to cut energy consumption to help achieve climate targets, often because consumers are not ready to pay up or compromise their lifestyles.
26 June 2021, 18:00 PM

Amazon buys encrypted messaging app Wickr

Amazon said Friday it was acquiring the encrypted messaging app Wickr which offers secure communications for businesses, government agencies and individuals.
26 June 2021, 18:00 PM

Tesla recalls vehicles in China for online software update

Chinese regulators said on Saturday Tesla Inc would ‘recall’ nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles.
26 June 2021, 18:00 PM

Britain could face food shortages due to lorry driver crisis

Britain could face gaps on supermarket shelves this summer and an “unimaginable” collapse of supply chains after the pandemic and Brexit led to a shortage of more than 100,000 truck drivers, industry leaders have warned.
26 June 2021, 18:00 PM

Business group urges Biden to lift Europe travel ban, revive economies

The Biden administration is under pressure from a major business group and diplomats to scrap a travel ban on Europeans, as investment from the continent in the United States plunged by nearly a third last year.
26 June 2021, 18:00 PM

EU strikes deal on huge farm subsidies

European Union negotiators struck a deal on reforms to the bloc’s huge farming subsidy programme on Friday, introducing new measures aimed at protecting small farms and curbing agriculture’s environmental impact.
26 June 2021, 18:00 PM

China must develop unified, open-source smart car operating system

China, the world’s biggest auto market, should develop its own unified, open-source operating system (OS) for smart vehicles, as well as auto chips, to maintain its advantage in the electric vehicle (EV) industry, an ex-industry minister said on Friday.
20 June 2021, 18:00 PM

China’s Saudi oil imports plunge 21pc

China’s imports from Saudi Arabia fell 21 per cent in May from a year earlier but retained their top ranking among suppliers for a ninth month in a row, customs data showed on Sunday.
20 June 2021, 18:00 PM

Porsche to set up joint venture with German battery maker

Volkswagen’s luxury sports car unit Porsche AG is setting up a joint venture with Customcells to produce high-performance batteries that will significantly reduce charging times, the company said on Sunday.
20 June 2021, 18:00 PM

Airlines, holiday companies ramp up pressure on Britain to ease travel rules

Britain’s airlines and holiday companies are planning a “day of action” on Wednesday to ramp up pressure on the government to ease travel restrictions, with just weeks to go before the start of the peak summer season.
20 June 2021, 18:00 PM

Fed shift causes rally in value stocks to wobble

The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.
20 June 2021, 18:00 PM

ECB makes good progress on new strategy, Lagarde says

European Central Bank policymakers meeting this weekend made “good progress” in reshaping the ECB’s strategic goals, including the role it plays in fighting climate change and a revised approach to inflation, President Christine Lagarde said on Sunday.
20 June 2021, 18:00 PM

DCCI, Vietnam embassy team up to foster trade, investment

The Dhaka Chamber of Commerce and Industry (DCCI) and the embassy of Vietnam in Bangladesh have signed a memorandum of cooperation to foster trade and investment between the two countries.
20 June 2021, 18:00 PM

Baltic Pipe gas link work resumes but faces 3-month delay

Construction work on Baltic Pipe, a pipeline connecting Poland with Norwegian gas fields via the Baltic Sea and Denmark, will resume after a temporary halt was announced earlier this month, Danish grid operator Energinet said on Saturday.
20 June 2021, 18:00 PM

UK’s Sunak considers cap to annual pension rise

British finance minister Rishi Sunak is considering blocking a near 6 per cent rise in old-age pension payments as part of a wider effort to rein in the cost of Prime Minister Boris Johnson’s spending, the Sunday Times newspaper said.
20 June 2021, 18:00 PM

Chevron returning offshore workers, restarts output halted by US storm

Chevron Corp said on Saturday it was returning offshore workers who had been evacuated ahead of Tropical Storm Claudette from its Gulf of Mexico production platforms.
20 June 2021, 18:00 PM

EIG-led consortium closes $12.4b Aramco pipelines deal

US-based EIG Global Energy Partners said on Friday a consortium it led has closed a deal to buy 49 per cent of Saudi oil producer Aramco’s pipelines business for $12.4 billion.
19 June 2021, 18:00 PM

Airlines industry could return to normal next year expert

AirAsia Group Bhd’s chief executive officer said the aviation industry could return to normal next year as international borders gradually reopened, state news agency Bernama reported on Saturday.
19 June 2021, 18:00 PM