French supermarket retailer Carrefour has agreed to buy Grupo Big, Brazils thirdbiggest food retailer, in a deal valuing the Brazilian firm at around 1.3 billion, which Carrefour said would boost its earnings. Carrefour said on Wednesday that it would buy the company from Walmart and investment firm Advent International. It added that the transaction values […]

Financial technology group Feedzai said on Wednesday it had raised 200 million in a round led by investment company KKR valuing the startup at more than 1 billion. Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round, the San Mateo, Californiaheadquartered company said. Feedzai develops artificial intelligence and machine learning technology […]

GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company on March 31, pointing to a deepening of changes driven by its new biggest shareholder, Chewy.com cofounder Ryan Cohen. This is the second executive departure at GameStop since it tapped Cohen to spearhead a transition to ecommerce. Chief Financial […]

Abu Dhabi state fund Mubadala Investment Co and Abu Dhabi Catalyst Partners, partowned by Mubadala, said on Tuesday they had invested a combined 150 million in messaging app Telegram. Mubadala invested 75 million in fiveyear, preinitial public offering IPO bonds of Telegram, while Abu Dhabi Catalyst Partners invested a further 75 million. Telegrams user base […]

BEIJING Reuters Chinese autonomous driving startup Momenta said on Friday it has received 500 million from SAIC Motor, Toyota Motor and auto parts supplier Bosch, as the global auto industry pursues the autonomous future. Other investors in the funding round include Daimler AG, Temasek, Yunfeng Capital and Tencent, Momenta said in a statement. It did […]

Wall Street thought 2020 was a frenetic year for special purpose acquisition companies SPACs. Yet with more than nine months to go until the end of 2021, initial public offerings IPOs of U.S. SPACs this week surpassed the 83.5 billion the sector raised in all of 2020, data from industry tracker SPAC Research showed. This […]

Wall Street and Silicon Valley poured billions of dollars into electricvehicle and related companies in 2020, betting on their future dominance and in many cases fueling valuations that bear little relation to the companies current or expected production and sales. There is little doubt that the automotive industry is trending toward electric vehicles amid the […]

Volkswagen is confident that cost cuts will help it raise profit margins in the coming years, the worlds secondlargest carmaker said on Tuesday, a day after outlining an ambitious electric mobility expansion. Our good performance in 2020, a year dominated by crisis, will give us momentum for accelerating our transformation, Chief Executive Herbert Diess said […]

Payments firm Wirecard collapsed last year in Germanys biggest postwar fraud scandal. A parliamentary inquiry is in progress, with German Chancellor Angela Merkel and Finance Minister Olaf Scholz due to testify in April. The German government examined the possibility of bailing out Wirecard just three days before it collapsed, according to documents seen by Reuters. […]

Credit Suisse on Tuesday warned it might incur charges following the collapse of its Greensilllinked supply chain finance funds and other dealings with the specialty firm. The lender has been facing the fallout from the collapse of 10 billion worth of funds linked to British financial services firm Greensill Capital, which last week filed for […]