Beijing-based, Cayman-domiciled Xiaomi priced its IPO at $2.17 – the bottom end of its indicative range. On Friday, sources close to Xiaomi Corp’s Hong Kong initial public offering (IPO) disclosed, the Chinese firm priced the IPO at the bottom of an indicative range, of HK$17 to HK$22, and raised $4.72 billion. Xiaomi is selling around…
Much of the U.S. government’s stance can be traced back to a report prepared by the U.S. Department of Defense, which warns of Chinese venture investors accessing “the crown jewels of U.S. innovation.” Although the U.S. Administration is pushing to protects national security interests by blocking Chinese investments in the field of artificial intelligence, machine…
Its investors include KKR & Co, AllianceBernstein and Baillie Gifford. Lyft has a market share of 35% in the U.S. Following a funding round in which it raised $600 million, Lyft Inc said the its latest funding round was led by Fidelity Management which saw the ride-hailing firm’s valuation jump to $15.1 billion in little…
The partnership aims to collect data from vehicle communication, crash detection, and diagnostics and provide big-data analytics to corporate clients, insurers and emergency responders. In a statement, German auto supplier Robert Bosch GmbH and Canadian startup have said, the two firms have teamed up to collaborate on a wide spectrum of digital services in the…
Z Energy did not mention the extent to which its database was compromised. However, the compromised system has remained closed since December 2017. On Wednesday, Z Energy Ltd, a New Zealand-based fuel supplier disclosed it has been presented with evidence that its customer data from its Z Card Online database was accessed by a third…
Google’s customers have been reassured by the fact that Google Ads will now serve as an all-encompassing front door for ad sellers and advertisers. On Wednesday, in one of Alphabet Inc-owned Google’s biggest re-branding exercise, the search engine giant disclosed that it is further streamlining the entry point for ad sellers and advertisers and is…
The collaboration marks the Audi AG as the first major carmaker to sign a multi-year partnership with Cognata’s platform. On Tuesday, Israel-based Cognata Ltd, an autonomous vehicle simulation platform provider, stated it has partnered with Volkswagen’s Audi to speed up the development of autonomous vehicles. The simulation platform recreates virtually a range of testing scenarios…
Global automakers including Volkswagen’s Audi, Mercedes-Benz, BMW and Jeep are tapping into this market. Of the 1.5 million cars sold in Mexico in 2017, only a tiny fragment were armored. In an interesting turn of events, high levels of violent crimes in Mexico is acting as a growth engine for the country’s car-armoring business, with…
According to the CEO of Society of Motor Manufacturers and Traders (SMMT), Britain’s biggest car manufacturing lobby, “There is growing frustration in global boardrooms at the slow pace of negotiations”. On Tuesday, Britain’s biggest car manufacturing lobby, the Society of Motor Manufacturers and Traders (SMMT), stated the lack of clarity over Brexit has diminished new…
The deal will enable Enel to expand its fibre optic operations to market overseas. On Monday, Europe’s biggest utility Enel stated, it has agreed to acquire a 21% stake in Ufinet International, a Latin American fiber company, for $175 million (150 million euros). The deal includes an option to buy the remaining shares from owner…
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