Business

Daimler speeds up shift to electric vehicles, Manager Magazin reports

Daimler AG (DAIGn.DE) will accelerate the launch of electric cars slated for the middle of this decade while phasing out fossil-fuel versions, as it revamps its electrification strategy, Manager Magazin reported on Thursday. Many of the electric vehicle models the German carmaker has planned for 2024 or 2025 will be moved forward a year and […]

Business

Malaysia’s CTOS signs 20 cornerstone investors for $290 mln IPO, including AIA

Malaysian credit reporting firm CTOS Digital Bhd has secured more than 20 cornerstone investors for its planned public market debut next month, including AIA Group Ltd and Aberdeen Standard Investments, two sources familiar with the deal said. Other funds signed on for what is set to be Malaysia’s biggest initial public offering so far this […]

Business

Bitcoin Drops below $35,000 As China Intensifies Crackdown

Bitcoin plunged on Monday amid a nationwide crackdown against cryptocurrency mining in China. The world’s largest cryptocurrency dropped 1.17% to $34,998.68 as of 0815 hours IST on June 21 on coinmarketcap.com Index. On June 18, the local authorities at the southwest province of China’s Sichuan Province had ordered a halt on mining Bitcoins amid concerns […]

Business

Majority of Delta shareholders vote for disclosure of climate lobbying efforts

A majority of Delta Air Line Inc’s (DAL.N) shareholders voted in favor of making the airline disclose its climate lobbying efforts, as per preliminary results at the company’s annual general meeting on Thursday. The motion comes amid rising pressure on companies from investors, activists and governments to match global efforts to combat climate change. The […]

Business

Hong Kong tycoon Richard Li’s FWD files for U.S. listing

Hong Kong tycoon Richard Li’s insurer FWD said it has lodged an application to regulators for an initial public offering (IPO) in the United States. The company did not disclose the size of the IPO, but the deal could raise between $2 and $3 billion, people familiar with the matter said. A fundraising of that […]

Business

U.S. urges ‘very substantial’ prison term for Michael Avenatti over Nike extortion

The once high-flying California lawyer Michael Avenatti deserves a “very substantial” prison sentence for trying to extort millions of dollars from Nike Inc (NKE.N), U.S. prosecutors told a judge. The Wednesday night recommendation came one week after Avenatti’s lawyers said their client should spend no more than six months behind bars plus one year of […]

Business

Ryanair sues UK over travel curbs to try to rescue summer

Irish airline Ryanair (RYA.I) is launching a legal challenge against Britain over its “traffic light” system for international travel, hoping to force a relaxation of strict rules that threaten the summer holiday season. The airline has teamed up with Manchester Airports Group (MAG) and the pair filed legal papers at England’s High Court on Thursday […]