NEW DELHI (Reuters) – India’s VerSe Innovation has raised $805 million in a funding round led by Canada’s top pension fund, putting a $5 billion valuation on the Google-backed parent of short-video app Josh and news aggregator Dailyhunt. The funding round saw participation from firms including Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan…
By Yuka Obayashi TOKYO (Reuters) -Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up 49 cents, or 0.5%, at $107.13 a barrel as of…
BENGALURU (Reuters) -Indian digital payments firm Paytm said on Wednesday it is aiming to be operationally profitable by September next year, seeking to allay doubts about its business model that has clouded the stock. Backed by China’s Ant Group and Japan’s SoftBank Group Corp (9984.T), Paytm raised $2.5 billion in India’s biggest initial public offer…
BENGALURU (Reuters) -Indian digital payments firm Paytm said on Wednesday it would be able to breakeven for a key measure of profitability by September next year, boosting its shares, which have struggled so far due to doubts over its business model. The company’s stock, which has lost more than 70% from its IPO price of…
BERLIN (Reuters) – German carmaker Volkswagen will axe many combustion engine models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, its finance chief was quoted as saying on Wednesday. “The key target is not growth,” Arno Antlitz told the Financial Times newspaper. “We are…
By Daniel Leussink TOKYO (Reuters) – Asian share markets slipped on Wednesday as investors faced up to the possibility of aggressive monetary tightening by the U.S. Federal Reserve to fight inflation, while focus was also on new Western sanctions against Russia over its invasion of Ukraine. U.S. Treasury yields hit multi-year highs and stock markets…
By Alun John HONG KONG (Reuters) – The dollar edged up to its highest in nearly two years on Wednesday after jumping overnight on more hawkish comments from a Federal Reserve official, while the euro was hurt by the prospect of new Western sanctions on Russia. The dollar index, which measures the greenback against six…
By Yuka Obayashi TOKYO (Reuters) -Oil futures were mixed on Wednesday, recovering from early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up 11 cents, or 0.1%, at $106.75 a barrel…
HONG KONG (Reuters) – Cash-strapped Kaisa Group entered into a strategic co-operation agreement with state-owned China Merchants Shekou Industrial Zone Holdings and China Great Wall Asset Management on joint venture arrangements and asset acquisitions. Analysts said Kaisa’s move could set an example for other distressed property developers, including China Evergrande Group and Shimao Group, to…
By David Shepardson WASHINGTON (Reuters) – JetBlue Airways said Tuesday it made an unsolicited $3.6 billion bid for Spirit Airlines, potentially snarling merger plans between the ultra-low-cost carrier and Frontier Group Holdings. JetBlue Chief Executive Officer Robin Hayes said the deal would make the New York-based airline a stronger competitor to the so-called four legacy…
