Munich's electric planemaker Lilium to go public in the US via $3.3 billion SPAC deal

01-04-2021
Lilium, a Munich-based manufacturer of battery-powered passenger aircrafts, decided to go public in the US through a $3.3 billion SPAC deal

Cambridge chipmaker Arm Ltd rolls out new chip technology to take on data centres

31-03-2021
Ahead of a $40 billion mega-merger with US-based chipmaker Nvidia Corp., British semiconductor giant Arm Ltd. had unveiled a next-gen chip on Tuesday, mostly in a bid to take on data centres

Credit Suisse, Nomura warn Global lenders’ losses may top $6bn after Archegos default

31-03-2021
On Monday, deep-pocket lenders such as Nomura and Credit Suisse warned off billions of dollars in losses, largely due to the downfall of a US-based hedge fund Archegos which went default on margin calls

Buffet-backed Chinese e-vehicle maker BYD profit snowballs 162% in 2020

30-03-2021
On Monday, Shenzhen-based Chinese EV maker BYD said that its net profit space-dived as much as 162 per cent last year on an annualized basis

Traffic resumes in Suez Canal as stranded ship floats, but supply dins may last weeks

30-03-2021
Late on Monday, the giant 400-metre Ever Given blocking Suez Canal had been dislodged and shipping resumed again in the busiest sea passage between Asia and Europe

Petrobras inks deal to sell RLAM refinery to Abu Dhabi’s Mubadala Capital for $1.65bn

29-03-2021
Brazilian energy industry giant Petrobras said later last week that its management board had agreed to a sell-off of its RLAM refinery to Abu Dhabi's sovereign fund Mubadala Capital

Honda Motor quits British manufacturing after sale of Swindon plant to Panattoni

29-03-2021
On Saturday, Japan's Honda Motor Co. said that the automotive industry giant had agreed to a sell-off of its only remaining British car plant at Swindon in Southern England

Madrid's MasMovil launches friendly takeover bid for regional rival Euskaltel

29-03-2021
On Sunday, Spanish telecom giant MasMovil said in a statement that it had launched a friendly takeover bid for regional rival Euskaltel

Volkswagen recalls 150,000 Audi A3s in the United States over faulty air bag concerns

28-03-2021
Later this week, German automotive giant Volkswagen AG had issued a recall of more than 150,000 Audi A3 vehicles in the US over faulty air bag issue

Madrid’s Allfunds mulls post-Easter Amsterdam IPO, seeks €7-8bn valuation

28-03-2021
Madrid-based fund distribution firm Allfunds has been eyeing a potential public market floatation in Amsterdam as early as by April this year

Goldman Sachs liquidates $10.5bn worth of stocks as Chinese firms’ delisting looms

28-03-2021
On Friday, New York City lender Goldman Sachs had sold off as many as $10.5 billion worth of stocks, evaporating more than $35bn in valuations in major NYSE-listed companies

Palo Alto EV maker Tesla Inc Chinese rival Nio halts production due to chip shortage

27-03-2021
Nio Inc., the smaller Chinese rival of e-vehicle industry megalith Tesla Inc., said in a statement on Friday that it had stalled production at its Hefei plant due to a steep shortage of chips

New York’s WeWork agrees $9 billion SPAC merger to finally get stock market listing

27-03-2021
On Friday, American commercial real estate company WeWork said in a statement that it had agreed to go public through a merger with an SPAC in a deal that could value the merged entity at $9 billion

German utility Enercity, Compleo merge e-vehicle charging units as demands soar

27-03-2021
On Friday, Hanover-based German utility firm Enercity said in a statement that it had agreed to merge its e-vehicle charging unit Wallbe with Compleo Charging Solution

Suez Canal could be blocked for weeks by ‘beached whale’ ship, say salvage companies

26-03-2021
On Thursday, two salvage companies working on the Taiwanese vessel that ran aground on Tuesday and occluded a single-lane southern stretch of Suez Canal, said that the Canal could remain blocked for weeks

Clewiston’s US Sugar to purchase Dutch commodity broker Louis Dreyfus' Imperial Sugar

25-03-2021
Imperial Sugar-owner Louis Dreyfus and the United States' largest sugar cane producer US Sugar, said in a joint statement that US Sugar had reached an accord to take over its regional rival Imperial Sugar

Santa Clara chipmaker Intel to spend $20bn on US chip plants to deter Asian dominance

25-03-2021
Intel Corp, the American multinational chipmaking mogul, said in a statement on Wednesday that the chipmaker would spend a stark upsum of $20 billion to expand its advanced semiconductor manufacturing capacity

Spanish regulators approve $5.2 billion Bankia-Caixabank merger with conditions

24-03-2021
On Tuesday, Spain's competition watchdog, CNMC, had approved a $5.2 billion merger between Bankia and Caixabank, which in effect would create the country's largest domestic lender

Campbell’s Velo3D to go public via Serena Williams-backed SPAC at $1.6bn valuation

24-03-2021
American tennis megastar Serena Williams-backed SPAC, Jaws Spitfire Acquistion, has been set to take a California-based printing firm Velo3D Inc public in a deal that could value the merged entity at $1.6 billion

Wall St. closes out sharply lower as stimulus, infrastructure cost spook investors

24-03-2021
On Tuesday, all three key indices of Wall St. had closed out the session sharply lower following overwhelming remarks of US Fed's Powell and US Treasury Secretary Janet Yellen

Virginia's TSA says US air traffic tops 1.5mn for first time since early-March 2020

23-03-2021
US TSA said in a statement that US air traffics topped a 1.5 million level over the weekend for first time since early-March last year

New York’s Apollo co-founder Leon Black quits executive roles after Epstein probe

23-03-2021
Apollo Global Management Inc. co-founder and Chair, Leon Black, 69, had left his executive roles in the New York City private equity firm citing Epstein probe-linked scrutiny

Saudi oil giant Aramco to scale back spending after 45% profit slump in 2020

22-03-2021
On Sunday, after reporting a plunge of roughly 45 per cent in net profits last year, Saudi Aramco had lowered its planned capital expenses

Calgary’s CP Rail to buy Kansas City Southern for $25bn in bets on trade boom

22-03-2021
On Sunday, Canadian rail operator Pacific Railway Ltd. said that the company had agreed to a landmark $25 billion cash-and-stock takeover deal for Kansas City Southern which in effect would offer a single rail system tethering the US, Mexico and Canada

Cupertino’s Apple to pay off $308.5 million for patent infringement

22-03-2021
Late on Friday, a Federal Jury in a court of Texas had ruled that the Cupertino-based iPhone maker Apple Inc. must lay off a stark sum of $308.5 million in punitive measures for violating patents related to its digital rights management