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LONDON — Countries across the world rushed Friday to identify potential cases and halt travel from southern Africa where a new variant of Covid-19 emerged as a sudden source of global alarm. The World Health Organization (WHO) convened for an emergency meeting to assess the variant, currently identified as B.1.1.529. Maria Van Kerkhove, an infectious disease epidemiologist and Covid-19 technical lead at the World Health Organization said Thursday that if it was designated it would be given a Greek name. "We don't know very much about this yet, what we do know is that this variant has a large number of mutations," Van Kerkhove said in a video on Thursday. But Van Kerkhove said it was good that the mutations had been detected, as it meant that there was a system in place.
Persons: Ursula von der Leyen, , Jenny Harries, Waldo Swiegers, Naftali Bennett, Maria Van Kerkhove, Van Kerkhove Organizations: World Health Organization, WHO, European Union, Reuters, The, Health Security Agency, . Health Security Agency, , Bloomberg, Getty Locations: Africa, South Africa, Botswana, Lesotho, Eswatini, Zimbabwe, Namibia, Israel, Singapore, Japan, Croatia, South, Hong Kong, Malawi
That drive brought the company’s subsidiaries and affiliates into close alignment, the so-called Alibaba Economy conceived by former boss Jack Ma. A committee comprising 13 senior executives was created in spring 2019 to helm an Alibaba Economy Body, headed by Mr. Zhang with Ant Chairman Eric Jing as his deputy. Mr. Zhang has held far fewer such meetings in recent months, they said. Under the Alibaba Economy structure, Ant tied its strategy more closely with Alibaba. Other business units, such as industrial and community e-commerce, cloud computing and local services, have their own presidents.
Persons: , Daniel Zhang, Zhang, Alibaba, Ant, Jack Ma, Ant’s, Mr, Eric Jing, Ma, , , Qilai Shen, — Raffaele Huang, Jing Yang Organizations: Holding, Ant, Cainiao Smart Logistics Network, Tencent Holdings, Pinduoduo Inc, Bloomberg,, Meituan Locations: HONG KONG, Beijing, China, U.S, Hangzhou, Alibaba
A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021. GUANGZHOU, China — Shares of SoftBank extended their losses on Friday after Bloomberg reported that Chinese regulators have asked Didi's executives to formulate a plan to delist from the U.S.SoftBank shares in Japan were down 4.77% at the lunch break. Bloomberg's report said regulators want Chinese ride-hailing giant Didi to delist from the New York Stock Exchange because of concerns about leakage of sensitive data. CNBC was unable to confirm the Bloomberg report. The Cyberspace Administration of China has asked Didi to work out the details for a delisting which will be subject to government approval, Bloomberg said.
Persons: Didi Organizations: Bloomberg, Vision Fund, New York Stock Exchange, CNBC, Cyberspace Administration, China Locations: GUANGZHOU, China, Japan, Hong Kong, U.S
Listings of apartments for sale displayed at a real estate office in Shanghai, China, on Monday, Aug. 30, 2021. While the plunge in Evergrande's shares has abated, the volatility in other Chinese real estate companies has continued this month. Real estate and industries related to it account for about a quarter of China's economy. The business cycle for Chinese real estate companies relies heavily on sufficient financing for making sure consumers get the apartments they paid for ahead of completion. The number of Chinese real estate high-yield bond deals plummeted in October to just two deals, worth a total of $352 million, according to Dealogic.
Persons: Qilai Shen, Kaisa, Shimao, Charles Chang, Chang, Evergrande, Jennifer James Janus Henderson, Jennifer James, Janus Henderson, James, Jim Veneau Organizations: Bloomberg, Getty, People's Bank of China, Janus Henderson Investors, CNBC, Investors, AXA Investment Locations: Shanghai, China, BEIJING, Greater China, Asia
REUTERS/Florence Lo/IllustrationSHANGHAI, Nov 26 (Reuters) - Chinese regulators have asked top executives of ride hailing giant Didi Global Inc (DIDI.N) to devise a plan to delist from the New York Stock Exchange due to concerns about data security, Bloomberg News reported. Shares in Didi investors SoftBank Group Corp (9984.T) and Tencent Holdings (0700.HK) fell more than 5% and 3.1%, respectively following the report. Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. It said data had been collected illegally and ordered app stores to remove 25 mobile apps operated by Didi. SoftBank Vision Fund owns 21.5% of Didi, followed by Uber Technologies Inc (UBER.N) with 12.8% and Tencent's 6.8%, according to a filing in June by Didi.
Persons: Didi, Florence Lo, Brenda Goh, Sneha Bhowmik, Arun Koyyur, Sam Holmes Organizations: REUTERS, Inc, New York Stock, Bloomberg News, U.S . bourse, Cyberspace Administration, China, SoftBank Group Corp, Tencent Holdings, Reuters, CAC, Vision Fund, Uber Technologies, Thomson Locations: SHANGHAI, U.S, HK, Hong Kong, United States, York, Shanghai, Bengaluru
China is imposing mandatory quarantines of up to seven weeks for returning Chinese seafarers. See all newslettersChina's strict COVID-19 quarantines are making it difficult for ships to change crews, contributing to lags in the shipping process that could worsen the supply chain crisis. Now, the export hub is imposing mandatory quarantines of up to seven weeks — around 49 days — for Chinese seafarers returning from overseas, Bloomberg reported. Ships and seafarers typically take a break from sailing after four to six months onboard, according to the International Maritime Organization. "Any restrictions to ship operations have an accumulative impact on the supply chain and cause real disruptions."
Persons: , Guy Platten Organizations: Global, Forum, Bloomberg, International Maritime Organization, Russian Federation, Global Maritime Forum, International Chamber of Shipping Locations: China, Shanghai, Shenyang, Philippines, Indonesia, Ukraine
China's tech watchdog wants Didi to be taken off the NYSE due to concerns about data security. Didi went ahead with its US listing in June despite Chinese authorities urging the company to put it on hold. China's tech watchdog wants the management to take the company off the New York Stock Exchange on concerns about leakage of sensitive data, the report said, citing people familiar with the matter. Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. It said data had been collected illegally and ordered app stores to remove 25 mobile apps operated by Didi.
Persons: Didi, Organizations: Service, Inc, Bloomberg News, New York Stock Exchange, Cyberspace Administration, China, SoftBank Group Corp, Reuters, CAC Locations: Hong Kong, United States, York
A U.S. hundred dollar bill and Japanese 10,000 yen notes are seen in this photo illustration in Tokyo, February 28, 2013. A gradual shift by Japan's manufacturers to offshore production means a weak yen has become less of a boon for local exporters than it was about a decade ago. "The negative impacts of a weak yen may be larger than before given the penetration ratio of imports is on the rise." The last time Japan intervened to stop yen declines was 1998 during the Asian Financial Crisis when the dollar broke above 146 yen. "On the other hand, a weak yen strains firms with domestic operations by pushing up import costs."
Persons: Shohei, Kiichi Murashima, Shinzo, Fumio Kishida, Haruhiko Kuroda, Junko Nakagawa, Tetsushi Kajimoto, Leika Kihara, Sam Holmes Organizations: REUTERS, Citi, Ministry, Economy, Trade, Industry, Analysts, Reuters, Bank of Japan, Bloomberg, Thomson Locations: Tokyo, United States, Japan
It's looking like a Black Friday
  + stars: | 2021-11-26 | by ( )   time to read: +2 min
Special discount on Black Friday sales is offered at a fashion store, as the spread of the coronavirus disease (COVID-19) continues, in Zurich, Switzerland November 27, 2020. REUTERS/Arnd Wiegmann/File PhotoNov 26 (Reuters) - A look at the day ahead from Dhara Ranasinghe. Register now for FREE unlimited access to RegisterThin liquidity following Thursday's U.S. Thanksgiving Day holiday likely exacerbates price moves for sure, but there's little doubt overnight headlines have taken markets by surprise on Friday. read moreThe news comes as Europe already battles a resurgent COVID-19 outbreak, triggering fresh restrictions that raise uncertainty over the near-term economic outlook. In emerging markets, the spotlight passes from Turkey to South Africa for now as the rand breaches the 16.00 level to the dollar for the first time this year.
Persons: Arnd, Christine Lagarde, BOE, Huw Pill, Didi, Dhara Ranasinghe, Karin Strohecker Organizations: Black, REUTERS, Treasury, U.S, European Central Bank, Bloomberg, Register, Thomson Locations: Zurich, Switzerland, Dhara, South Africa, Asia, Japan, Europe, U.S, Botswana, Hong Kong, Ukraine, Russia, China, Turkey
Hong Kong (CNN Business) Shares of SoftBank (SFTBF) plunged about 5% in Tokyo on Friday after Chinese regulators reportedly asked Didi to delist from the United States because of concerns about data security. The Japanese company's Vision Fund is a major shareholder in the Chinese ride-hailing service with a stake of over 20%. SoftBank shares opened lower on Friday as Asian markets were slammed by fears of a new coronavirus variant that appears to be spreading rapidly in parts of South Africa. But the losses accelerated after Bloomberg reported , citing anonymous sources, that the Cyberspace Administration of China (CAC) has asked Didi's top executives to work out a plan to delist the company from the New York Stock Exchange. Didi, SoftBank and the CAC didn't immediately respond to CNN Business' requests for comments on the report.
Persons: Didi, SoftBank, Read Organizations: CNN, Bloomberg, Cyberspace Administration of China, New York Stock Exchange, CAC, CNN Business Locations: Hong Kong, Tokyo, United States, South Africa
Uber has been ordered to stop offering its main ride-hailing service in the Belgian capital of Brussels from Friday evening. The Brussels Appeal Court ruled on Wednesday that a 2015 ban on private individuals offering taxi services also applies to professional drivers. "From this Friday, you won't be able to get an Uber ride in the EU capital," Uber wrote on Twitter Wednesday. Uber has been urging people to sign a petition to save the 2,000 professional drivers who use Uber in the city. It reportedly told two of the company's units to pay 150,000 euros each as it backed a complaint by Taxis Verts, a Brussels taxi firm.
Persons: Uber, We're, Niklas Oestberg, Rudi Vervoort, Taxis Organizations: Brussels Appeal, Twitter, European, European Union, Bloomberg Locations: Belgian, Brussels, Europe, London
Ukraine's president said a coup involving Russia was being planned for early Dec.,, Reuters reported. See all newslettersUkraine's president has accused Russia of preparing a coup as early as next week. The warning comes as Russia builds up troops along its border with Ukraine, stoking fears that it could be preparing an invasion. Ukraine's defense ministry warned this week that Russia is increasing its "combat readiness" in Ukraine. The head of Ukraine's defense intelligence agency also told Military Times last week that Russia already has around 100,000 troops on the border.
Persons: Volodymyr Zelensky, stoking, Insider's Ryan Pickrell Organizations: Reuters, Bloomberg, Russian Federation, Military Locations: Russia, Ukraine
Software AG can log onto buyout boom
  + stars: | 2021-11-26 | by ( )   time to read: +1 min
Germany’s Software AG (SOWGn.DE) is considering a sale, Bloomberg reported on Thursday, citing people familiar with the matter. Patchy performance and ageing founder Peter Schnell, whose charitable foundation is a major shareholder, may sway the decision. Software AG is valued at 13 times. British robotics software maker Blue Prism (PRSMB.L) on Thursday agreed to a 1.2 billion pound offer from buyout firm Vista Equity . Alternatively, Software AG could try scaling up while still in public hands.
Persons: Peter Schnell, Warburg Pincus, Remy Cointreau, Jamie Dimon, Peter Thal Larsen, Karen Kwok Organizations: Reuters, Germany’s Software AG, Bloomberg, SAP, Software, KKR, TPG, Blue, Vista Equity, Enterprise, Software AG, Twitter, Locations: British, London
Cruise stocks were also getting rocked: Royal Caribbean (RCL) slid 10.6%, Carnival (CCL) took a 10.5% hit, and Norwegian (NCLH) fell 10%. Stay-at-home stocks – Stocks that benefited from Covid-19 closures rebounded, with Zoom Video (ZM) gaining 7.8% in premarket trading, DocuSign (DOCU) up 3%, Netflix (NFLX) higher by 2.2% and Peloton (PTON) jumping 6.2%. However, that was a lower efficacy rate than was seen in an earlier study, and Merck fell 3% in premarket trading. Didi Global (DIDI) – Didi has been asked by Chinese regulators to delist from the New York Stock Exchange, according to a Bloomberg report. Didi slid 6.3% in premarket action.
Persons: Ridgeback Biotherapeutics, Didi Global, DIDI, – Didi, Didi, – Tesla, Tesla, Lockheed Martin, Sweden's, Satya Nadella Organizations: DAL, JetBlue, Royal, , Netflix, Pfizer, Merck, New York Stock Exchange, Bloomberg, Beijing Daily, Micron Technology, Micron, United Microelectronics, United, Boeing, Canadian Press, Sweden's Saab, Microsoft, SEC Locations: Delta, Covid, Shanghai, Taiwan, Canada, China
We looked into which currencies the new laws affect and considered which other central banks might ban crypto. Bitcoin's price is often a leading indicator for the rest of the crypto market, and in both cases it's demonstrated some resilience. Private cryptocurrency banThere's been significant debate about the wording of the Lok Sabha bill, which prohibits private cryptocurrencies. Nischal Shetty, the founder of the Indian crypto exchange WazirX, argued that a full crypto ban would ignore use cases beyond digital payments. "Perhaps that's why, alongside the plan to ban private crypto assets, India announced it will be launching its own digital currency," he added.
Persons: it's, Nischal Shetty, Shetty, Naimish Sanghvi, ethereum, Sam Bankman, Bankman, Fried, Bloomberg's, bitcoin, Dogecoin, shiba inu, AJ Bell Organizations: CNBC, TV18, Crunch, Bloomberg, Bank of England's Locations: India, China, Lok, Korea, Korean
In August the team in charge of AWS' marketing software Pinpoint pitched the idea of buying HubSpot. It's not uncommon for business applications to require years of development and sales cycles before taking off. To circumvent this problem, AWS' applications team came up with an out-of-box idea, internally called "Rebel Alliance," as Insider previously reported. Unwillingness to buyOne recent setback in AWS' applications team was the sudden departure of its vice president Larry Augustin, a high-profile hire from 2019. His resignation led to a massive exodus in the applications team, including some of Augustin's top deputies.
Persons: Andy Jassy's, Jassy, Richard Brian, Amazon's, Matt McIlwain, Adam Selipsky, Selipsky, David Paul Morris, Amazon's playbook, It's, Jeff Bezos, Dropbox, Slack, Joe Raedle, nondevelopers, Adam Bosworth, Honeycode, Satya Nadella, Anshuman, it's, Larry Augustin, Augustin, Salesforce, Eugene Kim Organizations: AWS, Amazon, Services, Reuters, Microsoft, Gartner, Synergy Research, Google, Madrona Ventures, Wall Street, Bloomberg, Hindustan Times, Getty, Alliance, Foods, Labs, Oracle Locations: Hulu, Jassy
Amazon chartered its own ships, built up Amazon Air, and hired 150,000 seasonal workers. The retailer is one of many to take extra steps to move goods in time for holiday shopping season. The smaller ports allow the company to avoid backlogs at the nation's largest port that can add as much as two months to a shipment's delivery time. Earlier this fall, the retail giant hired 150,000 seasonal workers to work in their warehouses, compensating for the surge in consumer demand. "At Amazon, preparation for the holiday season begins on January 1," the company said in a blog post.
Persons: We've, they'll, Read Organizations: Amazon, Bloomberg, Service, Port, Walmart, Home Depot, Ikea Locations: Asia, Houston, Everett, Washington
David Paul Morris | Bloomberg | Getty ImagesWhen it comes to shopping for a new car, this isn't your typical Black Friday. "In any other year, you'd be able to find deals," said Jennifer Newman, editor in chief of The supply imbalance has pushed the average price paid for a new vehicle to about $44,000, according to the most recent estimate from J.D. For vehicles that are 1 year to 3 years old, the average price is $38,974, a 46% jump from $26,627 two years ago, according to car-shopping app CoPilot. However, you may be able to negotiate on the value assigned to a car you're trading in.
Persons: David Paul Morris, you'd, Jennifer Newman, it's, Ivan Drury, Drury Organizations: Bloomberg, Getty, LMC Automotive, That's, Finance, Dealers Locations: U.S
The social-spending and climate bill passed last week by the U.S. House would cap annual drug price increases at the rate of inflation. Albert Bourla, chief executive of Pfizer, says Medicare price negotiation is price-fixing. “They exchange one year of growth in exchange for a decade of no action at the federal legislative level on drug prices. Any revenue companies earn from price increases above consumer inflation would be forfeited to the government in the form of rebates. “It is better to place the financial rewards on true innovation rather than just price increases,” Dr. Schleifer said.
Persons: Biden, drugmakers, Anna Moneymaker, ” Leonard Schleifer, Schleifer, Albert Bourla, Christopher Goodney, , Ronny Gal, Bernstein, Leonard Schleifer, Eric Thayer, pare, Paul Masi ,, Loren Adler, Jared S, Hopkins, Joseph Walker Organizations: Medicare, Congressional, U.S, Regeneron Pharmaceuticals Inc, Senate, Democratic, GOP, Republicans, Pfizer, Bloomberg, Industry, Pfizer Inc, Republican, Human Services Department, USC, Brookings Schaeffer Initiative, Health, CBO Locations: Government, joseph.walker
Indian tycoon Gautam Adani is close to becoming Asia's richest man on the Bloomberg Billionaire Index. Adani, a college dropout, worked as a diamond sorter and survived a kidnapping and terrorist attack. That makes him $800 million shy of energy magnate Mukesh Ambani, Asia and India's richest person. Several local media outlets now hail Adani as Asia's richest man, though he still sits at second place on Bloomberg's index as of Thursday. Adani then moved on to diamond trading and eventually started his own business, Adani Enterprises, to import and export commodities in 1988, The Financial Times reported in an interview with him.
Persons: Gautam Adani, It's, Zhong Shanshan, Mukesh Ambani, Adani, Narendra Modi, Shantilal Patel, Patel, Chhatrapati Shivaji, Uriel Sinai Organizations: Bloomberg, Service, Adani Enterprise, Reliance Industries, Reliance Industries Infrastructure, APB, Silicon, Gujarat, Business, Adani Enterprises, Financial Times, The Times, Indian, Indian Express, Times, Mumbai, India Today, Adani Locations: India, Asia, Ahmedabad, Adani, Silicon India, Mumbai, Gujarat, Mundra, gunpoint, Chhatrapati
Even U.S.-assembled bikes typically rely on imported parts, many of which are ensnared in port delays. A spokesman for bike maker Trek said mid-range bikes, favored by the legions of people who took up cycling during the pandemic, are hardest to get. Sandy Huffaker/Bloomberg News
Persons: Sandy Huffaker Organizations: U.S, Bloomberg
Software AG considers putting itself up for sale-Bloomberg
  + stars: | 2021-11-25 | by ( )   time to read: 1 min
FRANKFURT, Nov 25 (Reuters) - Software AG (SOWGn.DE) is exploring strategic options including a potential sale, Bloomberg News on Thursday cited people familiar with the matter as saying. Frankfurt-listed shares of the German business software developer jumped 10.6% on the news. The company declined to comment. Register now for FREE unlimited access to RegisterReporting by Ludwig Burger and Nadine Schimroszik, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.
Persons: Ludwig Burger, Nadine Schimroszik, William Maclean Organizations: Software AG, Bloomberg, Thomson Locations: FRANKFURT, Frankfurt
REUTERS/Yara Nardi/File PhotoNov 25 (Reuters) - KKR & Co (KKR.N) and CVC Capital Partners are considering teaming up on a bid for Italy-based Telecom Italia SpA (TLIT.MI), Bloomberg News reported on Thursday, citing people with knowledge of the matter. CVC Capital, KKR and Telecom Italia did not immediately respond to a Reuters request for comment. KKR has made a 10.8 billion euro ($12 billion) offer in the midst of a boardroom row between Telecom Italia CEO Luigi Gubitosi and the former Italian telecoms monopoly's top investor Vivendi (VIV.PA), Reuters reported on Thursday. read moreGubitosi told the board that he is ready to step aside to speed up a decision on the KKR offer, according to sources. Register now for FREE unlimited access to RegisterReporting by Anirudh Saligrama in Bengaluru Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Yara, Luigi Gubitosi, Anirudh, Nick Zieminski Organizations: REUTERS, KKR, Co, CVC Capital Partners, Telecom Italia SpA, Bloomberg, CVC Capital, Telecom Italia, Vivendi, Reuters, Thomson Locations: Rome, Italy, Italian, Bengaluru
Chinese property giant Evergrande is teetering on the brink of collapse, with $300 billion in debt. Authorities previously stepped in to manage meltdowns at Anbang Insurance, Baoshang Bank, and HNA Group. By 2018, Anbang claimed to have about two trillion Chinese yuan ($313 billion) in assets, Reuters reported. Last year, the Chinese insurance regulator ended its two-year takeover. The bank had assets of 576 billion Chinese yuan ($90 billion) in 2017, when it published its last annual report.
Persons: Bondcritic, Anbang, , Wu Xiaohui, Deng Xiaoping, Wu, Baoshang, HNA, Reuters —, China's, Evergrande, Warut, Hui Ka Yan Organizations: Anbang Insurance, Baoshang Bank, HNA Group, Chinese Community Party, Anbang, Car, Reuters, Baoshang, Finance, Tomorrow Group, Bank, Huishang Bank ., Mongolia, People's Bank of China, Mengshang, HNA, Hilton Hotels, Deutsche Bank, The New York Times, Hilton, Deutsche Bank . Foreign, China Development Bank, Authorities, Bloomberg Locations: China, New York, Dajia, Inner Mongolia, Baoshang, Hong Kong, Hainan, Manhattan, HNA, Beijing
Hong Kong (CNN Business) Ships in Chinese waters are disappearing from global trackers, creating yet another headache for the global supply chain . Usually, shipping data companies are able to track ships worldwide because they are fitted with an Automatic Identification System, or AIS, transceiver. In the past three weeks, the number of vessels sending signals from the country has plunged by nearly 90%, according to data from the global shipping data provider VesselsValue. The global supply chain is already under "great stress," he added. Experts worry that a lack of shipping data out of China could strain the global supply chain.
Persons: Charlotte Cook, they've, Anastassis, Touros, Cook, Georgios Hatzimanolis, Xi Jinping, Xi, Donald Trump, Wang Qishan Organizations: CNN, Ships, AIS, VesselsValue, Shipping, China's Ministry of Foreign Affairs, Information Office, Anastassis Touros, Marine, Bloomberg, Economy, Cyberspace Administration Locations: China, Hong Kong, Port, Shanghai, Beijing, VesselsValue, Ningbo, Zhoushan, Singapore
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