Uber ends Foodpanda Taiwan acquisition after regulatory hurdles
Uber has terminated its $950 million bid for Delivery Hero's Foodpanda business in Taiwan, the food delivery company said on Tuesday, owing to regulatory hurdles. Taiwan had in December blocked the deal on anti-competitive concerns. Its Fair Trade Commission argued the buyout of Uber's mai ...
Uber terminates Foodpanda Taiwan acquisition, to pay about $250 million termination fee
Uber has decided to terminate its agreement to acquire Delivery Hero's Foodpanda business in Taiwan and will pay a termination fee of around $250 million, the food delivery company said on Tuesday. Uber said in an emailed statement that it would not appeal the decision of the Taiwan Fair Trade ...
Uber terminates Delivery Hero's Foodpanda business acquisition
Uber has decided terminate its agreement to acquire Delivery Hero's Foodpanda business in Taiwan and will pay a termination fee of around $250 million, the food delivery company said on Tuesday. Taiwan had in February blocked Uber's $950 million purchase of Delivery Hero's Foodpanda b ...
Trump's tariffs on steel, aluminum to raise costs for US energy firms, experts say
The proposed U.S. tariffs on steel and aluminum imports are poised to escalate costs for U.S. oilfield services companies, which rely on these metals for their operations.Oilfield services firms such as ChampionX and Patterson-UTI are the backbone of the North American oil and gas industry, supplyin ...
OpenAI launches new developer tools as Chinese AI startups gain ground
OpenAI launched new tools for developers on Tuesday that will help them build advanced AI agents, using a few application programming interfaces (APIs), amid growing competition from Chinese AI startups. AI agents are designed to independently execute complex real-world tasks without direct human in ...
Brazil eyes revisiting fintech reporting rules amid money laundering concerns
BRASILIA : Brazil will eventually need to resume discussions on requiring financial technology companies to report transaction values to the tax revenue service, the agency's head said on Tuesday.Speaking at a Senate hearing, Robinson Barreirinhas cited strong indications that lesser-known paym ...
Spain to impose massive fines for not labelling AI-generated content
MADRID : Spain's government approved a bill on Tuesday imposing massive fines on companies that use content generated by artificial intelligence (AI) without properly labelling it as such, in a bid to curb the use of so-called "deepfakes".The bill adopts guidelines from the European U ...
Trump says he will raise tariffs on Canada metals to 50%
WASHINGTON: President Donald Trump on Tuesday (Mar 11) doubled his planned tariff on all steel and aluminum products coming into the United States from Canada, bringing the total to 50 per cent, in response to the province of Ontario placing a 25 per cent tariff on electricity coming into the US. Tr ...
Singapore’s opposition parties lay early claims, question electoral boundaries
Renald Yeo - The People’s Alliance for Reform stakes early claims; WP notes changes; PSP and SDP say they will study the report
As recession fears rise, and risk free rates drop, S-REITs could benefit, JP Morgan says
The Edge Singapore - Although S-REITs are an unlikely place to "hide" during a recession, JP Morgan reckons that a faster than expected 31% drop in 6-month Singapore benchmark rates and lower 1-month Sora down 100 bps to 2.4% may see investors rotating to defensive yield plays. Against this background, JP Morg ...
Tank builder's stock hotter than LVMH in new European order
Bloomberg - A rush by European governments to boost military spending has unleashed a rally in defence stocks so strong that they’re now as richly valued as the region’s high-flying luxury names.  Shares in German tanks and ammunition producer Rheinmetall AG have jumped more than 90% this year. That’s ...
US: Wall St opens lower on slowdown worries
[NEW YORK] Wall Street’s main indexes opened lower on Tuesday (Mar 11) amid worries of a slowdown in the world’s largest economy,...
Verizon warns of 'soft' subscriber growth on strong competition, shares fall
Verizon warned on Tuesday that first-quarter subscriber growth would likely be "soft" as rival carriers attract customers with promotions, sending its shares down 5.3 per cent in premarket trading.The U.S. wireless giant pulled back on customer incentives after the promotion-heavy December ...
French tech start-up bankruptcies are increasing, survey finds
PARIS : Bankruptcies in France's tech start-up sector are increasing, according to a survey published on Tuesday whose findings could undermine President Emmanuel Macron's image of Paris as a leading European tech hub and key driver of the French economy.During his first term in office, Ma ...
Euro rallies on hopes of German defence deal; US dollar slips again
A broadly weaker dollar added to the euro’s momentum
Mercedes to develop smart cars for global markets with China’s Hesai lidar
[SHANGHAI] Mercedes-Benz will develop smart driving cars for global markets equipped with Hesai’s lidar sensors, a person with direct knowledge said, the...
Suspended Incredible Holdings to be target of proposed reverse takeover by Malaysian firm
Goh Ruoxue - The agreement involves the exchange of a prime land asset for shares in the Catalist-listed company
Deutsche Boerse's Clearstream to offer bitcoin and ether custody services
Germany's Deutsche Boerse will offer cryptocurrency custody and settlement services for institutional clients from next month, the company said on Tuesday, becoming the latest firm to offer custody management for bitcoin and ether. The service aims to allow crypto trading from various trading v ...
Fintech Zolve raises $251 million in its largest funding round yet
Zolve raised $251 million in its latest equity and debt financing round, the neo bank said on Tuesday, led by Indian private equity firm Creaegis, an existing investor, with participation from names like HSBC and SBI Investment. The latest funding, by far the largest in the Houston, Texas-based comp ...
Musk's Starlink, India's Airtel tie up to challenge Ambani in broadband race
Elon Musk's Starlink has signed a deal with India's No. 2 telecoms company Airtel to bring Starlink's internet services to the world's most populous country, intensifying rivalry with fellow billionaire Mukesh Ambani's telecom firm Reliance Jio.The pact will allow the U.S. s ...
Musk's Starlink internet to make India debut with Bharti Airtel
India's Bharti Airtel said on Tuesday it had signed a deal with Elon Musk's SpaceX for the highly anticipated launch of Starlink satellite internet in the world's most populous country. SpaceX's Starlink has long wanted to launch in India and has in recent months clashed with bil ...
India's Bharti Airtel signs deal with SpaceX to bring Starlink internet in India
India's Bharti Airtel said on Tuesday that it has signed a deal with SpaceX to bring Starlink internet in India.
Hyphens Pharma gains exclusive rights to commercialise autoinjector pen for rheumatoid arthritis in four Asean countries
Nicole Lim - Hyphens Pharma has gained exclusive rights to commercialise an autoinjector pen for the treatment of rheumatoid arthritis, called Metoject, in Singapore, Malaysia, Philippines and Vietnam. The pharmaceutical company has entered into a marketing and distribution agreement with medac Gesellschaft fà ...
Euro jumps to five-month high on hopes for Ukraine ceasefire; Canadian dollar rebounds after Trump tariffs
NEW YORK :The euro hit a five-month high on Tuesday after Ukraine agreed to a 30-day ceasefire proposal, while the dollar rose to a one-week high before weakening against the Canadian dollar following U.S. President Donald Trump's additional tariffs on Canada.Trump doubled his planned tariff on ...
US dollar hits one-week high against Canadian dollar on Trump tariffs
NEW YORK :The U.S. dollar rose to a one-week high against the Canadian dollar on Tuesday after President Donald Trump hit Canada with more tariffs while the euro hit a new four-month peak against the U.S. currency on hopes a German defence spending deal.Trump doubled his planned tariff on all steel ...
Euro rallies on hopes of German defence deal; dollar slips again
The euro scaled a new four-month peak against the dollar on Tuesday on hopes a German defence spending deal could be struck by the end of the week, while the dollar index slipped to its lowest since October due to U.S. recession fears.Germany's Greens Party co-leader Franziska Brantner said in ...
Daily Debrief: What Happened Today (Mar 11)
Stories you might have missed
DBS lifts iFast target price on Asia’s rising wealth; ‘buy’ call intact
Goh Ruoxue - The research house says its ‘high’ AUA target will likely require inorganic growth drivers to achieve
Kimly completes purchase of coffeeshop in Serangoon for $13.15 mil
Nicole Lim - Coffeeshop chain operator Kimly completed the purchase of a coffeeshop in Serangoon Central for $13.15 million on March 11. The property, at Block 204 Serangoon Central #01-104, has a total floor area of 358 sqm which consists of a 3-room flat on its second level, besides the coffeeshop. The propert ...
Indonesian miners group urges government to reconsider royalty hike plan
JAKARTA : Indonesian Mining Association on Tuesday urged the government to reconsider a plan to hike royalty rates for mining products as miners are already struggling with rising operational costs and tight cash flow.Indonesia is considering raising royalties paid by mining companies from commoditi ...
Singapore shares fall on US recession fears; STI drops 1.9%
Navene Elangovan - Local banks were among the biggest decliners on the benchmark index
Exclusive-Meta begins testing its first in-house AI training chip
NEW YORK : Facebook owner Meta is testing its first in-house chip for training artificial intelligence systems, a key milestone as it moves to design more of its own custom silicon and reduce reliance on external suppliers like Nvidia, two sources told Reuters.The world's biggest social media c ...
Coinbase registers with Indian financial watchdog to offer crypto trading services
MUMBAI : U.S.-headquartered cryptocurrency exchange Coinbase Global has registered with India's Financial Intelligence Unit (FIU), allowing it to offer crypto trading services in the country, the company said on Tuesday.Coinbase said it plans to launch its initial retail services later this yea ...
Korean Air launches new branding after US$1.3 billion Asiana acquisition
[SEOUL] Korean Air on Tuesday (Mar 11) launched new aircraft livery and corporate branding that will be introduced across the company as...
