Updated version at 8.00 am
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April 27, 2021,
- Oil pared its losses on Monday as Opec+ indicated that it was watching surging Covid-19 cases in India, which may dent fuel demand in the world’s third-biggest oil importer.
- Lyft Inc. has agreed to sell its self-driving division to a subsidiary of Toyota Motor Corp., in a $550 million deal.
- A United Arab Emirates sovereign wealth fund, Mubadala Investment, a fund with US$232 billion of assets, plans to buy a stake in an Israeli natural-gas field for as much as US$1.1 billion, would be the biggest business deal since the nations normalised ties last year.
- Thoma Bravo, a private equity firm would buy Proofpoint Inc in an all-cash deal that valued the cybersecurity firm at about US$12.3 billion, at a time when remote working due to the pandemic has fueled a surge in demand for network security.
- JPMorgan Chase & Co is preparing to offer a Bitcoin fund to wealthy clients, the latest sign that Wall Street is warming to the largest cryptocurrency, after it soared in recent months.
- One of China’s biggest food delivery giants, Meituan, under anti-trust probe as Beijing clips the wings of its soaring tech companies.
- Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers a modest rally away from hitting a $2 trillion valuation for the first time.
- Nestle SA in talks to acquire vitamin maker Bountiful Co, potentially expanding in a segment the company entered under the five-year watch of Chief Executive Officer Mark Schneider.
- GameStop Corp has raised $551 million through an equity offering as the videogame retailer accelerates its shift to e-commerce, sending its shares 15% higher in extended trading on Monday.
- Spotify is planning a major push into live audio, hoping to corner the market on what it thinks could be its next big business, in a bid to challenge Clubhouse.
- Apple Inc is increasing its US investments by 20% to US$430 billion over the next five years, to develop next-generation silicon and spur 5G wireless innovation across nine US states, after outstripping its growth expectations during the pandemic.
- Pi Ventures, the early-stage venture capital fund, focused on artificial intelligence and deep-tech startups, to raised US$76 million for its second fund.
- UpGrad, an India-based edutech startup, has received a whopping US$120 million from Singapore’s sovereign wealth fund Temasek Holdings.