German flying taxi startup Lilium said on Tuesday it would float on the U.S. stock market via a reverse merger with Qell Acquisition Corp, a blankcheque acquisition company, in a deal valuing the combined company at 3.3 billion. Munichbased Lilium is in a race with other aviation startups to deploy batterypowered aircraft that can take […]

Deutsche Bank CEO Christian Sewing will hand over oversight of the investment bank to board member Fabrizio Campelli, the German bank said on Monday, as part of an overhaul of the management board. The move is likely to reassure regulators, who worried that Sewing had too much on his plate, potentially leaving the investment bank […]

RollsRoyce said it had started building its new greener UltraFan engine and aims to have the first demonstrator model completed by the end of the year, in what it hopes will be a boost to both it and the environment. The British company has been hit harder than most by the pandemic, with much of […]

A consortium aiming to take copper miner KAZ Minerals private has increased its bid by 9 to 4.02 billion pounds 5.5 billion after minority shareholders indicated they would reject earlier proposals for being too low. Nova Resources, led by KAZ Minerals chairman Oleg Novachuk and Kazakh billionaire Vladimir Kim, has offered shareholders 850 pence in […]

Intel announced on Tuesday that it will spend 20 billion to build two new chip factories, called fabs, in Ocotillo, Arizona. Intel stock rose as much as 5 on the news in extended trading on Tuesday. The announcement, coinciding with new CEO Pat Gelsingers first public remarks since taking over the job, signals that Intel […]

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 […]

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 […]

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 […]