Business

Porsche to participate in fundraising of electric supercar maker Rimac

Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche. The fundraising should be completed in two to three months and another round is planned at the end of the year, […]

Business

Aramco seeks one-year extension on $10 billion loan

Saudi Aramco has asked banks to extend by a year a $10 billion loan it raised last May, two sources familiar with the matter said, suggesting that rebounding crude prices are not pushing the oil giant to reduce debt for the time being. The sources confirmed a report by Loan Pricing Corporation, a fixed-income news […]

Business

Bitcoin falls 5.84% to $43,418

Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen 25.6% from the year’s high of $58,354.14 on Feb. 21. Bitcoin’s price soared this year as major firms including BNY Mellon, asset manager BlackRock Inc, and credit card giant Mastercard Inc backed cryptocurrencies, […]

Business

Under shareholder pressure, Danone takes step to sell Chinese asset

Danone said on Sunday it was taking a first step towards selling off its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and governance. Danone said in a statement that following a review of its portfolio it had reached an agreement to convert its […]

Business

Bitcoin extends retreat from record high to hit lowest in 20 days

Bitcoin dropped 6.39% to $43,165.78 on Sunday, losing $2,944.20 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen 26% from the year’s high of $58,354.14 on Feb. 21 when it soared amid increasing confidence that it will become a mainstream investment and payments vehicle. Major firms such as BNY Mellon, asset […]

Business

Twilio nears deal to invest up to $750 million in Syniverse

Cloud-communications firm Twilio Inc is in talks to invest as much as $750 million in Syniverse Technologies LLC, the Wall Street Journal reported on Sunday. The investment will be announced on Monday, which could be followed by a merger between telecommunications services company Syniverse and a special-purpose acquisition company to take it public, the report […]

Business

An ‘industry custom’ – Little-known fees help Japan trust banks dominate profitable niche market

When Japan’s Honda Motor Co Ltd stopped using Sumitomo Mitsui Trust Bank Ltd as its stock transfer agent last year, the lender slapped it with a roughly $4 million termination fee, according to two people familiar with the matter. The break fee – 2,000 yen ($19) per shareholder – is a little-known practice among Japan’s […]