Business

SPACs target more ESG companies in 2021 -Nomura Greentech

Companies with environmental, social and governance credentials have been high on the list of merger targets for U.S. special purpose acquisition companies so far in 2021, data from Nomura Greentech showed. U.S. IPOs by SPACs with a focus on ESG or sustainability and in sectors including environmental technology, transportation, industrials, water and energy totalled 49 […]

Business

Timeline: ByteDance founder who put TikTok on global map to quit as CEO

Zhang, 38, turned ByteDance into a social media powerhouse which has also had many brushes with global regulators. This is a timeline of key events in the emergence of ByteDance and TikTok. 2012 – Zhang Yiming founds ByteDance in Beijing. 2016 – Launches Douyin, the Chinese version of TikTok. 2017 – ByteDance launches TikTok. Also […]

Business

Private equity’s falling out of love with plastic packaging

A decade ago, private equity couldn’t get enough of plastic packaging. They snapped up companies making bags, films and trays to contain everything from food and fashion to drink to drugs, drawn by reliable cash flows and consolidation prospects. But now the sector’s not quite so in vogue. Many buyout firms are steering clear, and […]

Business

Daimler Truck, Shell sign agreement on hydrogen trucking in Europe

Daimler Truck and Shell New Energies said on Thursday they have signed an agreement under which Shell commits to setting up hydrogen-refuelling stations for heavy-duty trucks that Daimler Truck will sell to its customers. Under the agreement, Shell will from 2024 launch heavy-duty hydrogen-refuelling stations between the green hydrogen production hubs at the Port of […]

Business

Expanding Latin American gym chain SmartFit files for IPO

Latin American gym chain SmartFit has filed for an initial public offering (IPO) to raise funds for its expansion, a Brazilian securities filing showed. The planned IPO move comes as many fitness chains have been forced to close gyms during coronavirus lockdowns. SmartFit has used the period to embark on acquisitions and increase its footprint […]

Business

EOS Hermes says yet to decide on MUFG climate shareholder resolution

EOS at Federated Hermes has yet to decide if it will back a shareholders’ resolution sponsored by activists seeking to push Mitsubishi UFJ Group to align itself with global climate change goals, the asset manager said. EOS Hermes, which is in talks with the bank, spoke exclusively to Reuters after MUFG said this week that […]

Business

Ford wires its electric trucks for business customers

Ford Motor Co’s newly revealed electric version of its best-selling F-150 pickup doubles down on a bet that the company can beat Tesla Inc and other rivals by giving new technology a familiar face and convincing long-time fleet and business customers that going electric saves money. Ford officially unveiled the battery electric F-150 Lightning model […]