SINGAPORE (Reuters) -Chinese gaming and social media company Tencent Holdings Ltd has sold 14.5 million shares in Singapore-based gaming and e-commerce firm Sea Ltd at $208 each to raise $3 billion, according to a term sheet seen by Reuters on Wednesday. Tencent sold the stock at the lower end of the $208.00-$212.00 per share range…
(Reuters) – Chinese gaming and social media company Tencent Holdings Ltd on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd. Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday…
By Paul Lienert (Reuters) – Hyundai Motor Co envisions an interactive and partly virtual future it calls “metamobility,” where a variety of robotic devices interact with humans to provide a broad range of mobility services, from automated individual transportation to remote control of robots in “smart” factories. Hyundai executives, led by Chief Executive Euisun Chung,…
(Reuters) – U.S. telecom companies and airlines have been fighting for weeks over the potential impact of 5G wireless services on aircraft, in stark contrast to the rollout of new-generation services elsewhere, which has broadly gone ahead without airing new safety concerns. Here is some background on the dispute, in which Verizon Communications and AT&T…
(Reuters) – Nevada has agreed to join a proposed nationwide settlement worth up to $26 billion resolving claims that three large U.S. drug distributors and the drugmaker Johnson & Johnson fueled a deadly opioid epidemic, the state’s attorney general said on Tuesday. Nevada was one of a handful of states that until now was not…
By Mike Scarcella (Reuters) – A U.S. appeals court on Tuesday revived a lawsuit against AstraZeneca Plc, Pfizer Inc and other companies over allegations their contracts with Iraq’s health ministry helped fund terrorism that killed Americans during the war in Iraq. The plaintiffs contend that the militia group Jaysh al-Mahdi, sponsored by Hezbollah, controlled Iraq’s…
By Noel Randewich and Paul Lienert DETROIT (Reuters) -Shares of Ford Motor and General Motors surged on Tuesday, lifted by investors’ growing enthusiasm about their future electric pickup offerings. Ford’s stock jumped more than 11% to its highest level since 2001 after the Detroit automaker said it will nearly double production capacity for its red-hot…
(Reuters) – BlackRock Inc and American Express Co are extending their hybrid work plans as the Omicron COVID-19 variant spreads across the United States. The world’s largest asset manager, BlackRock, is providing flexibility through Jan. 28 and allowing U.S. employees to work from wherever they are most comfortable, according to a source familiar with the…
(Reuters) – Bank of America Corp has hired veteran investment banker Benjamin Saunders as a managing director for its Americas Financial Institutions Investment Banking business, according to a memo seen by Reuters on Tuesday. Saunders, who was most recently the principal client coverage executive for New England and mid-Atlantic depository institutions at J.P. Morgan, will…
By Helen Coster and Eva Mathews (Reuters) -Bloomberg Media Chief Executive Officer Justin Smith and New York Times media columnist Ben Smith are departing their respective news organizations to start a new media firm, the two confirmed on Tuesday. Ben Smith will be the editor in chief of the as yet unnamed venture, which will…
