Bloomberg India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp’s Vision Fund and new investors, as competition in the country’s finance sector heats up. Though the company did not disclose details, it raised $1 billion in equity at a $16 billion valuation, according to a person familiar with the matter. It is in talks ...

Bloomberg China Mengniu Dairy Co agreed to buy Kirin Holdings Co’s Australian beverage unit Lion Dairy & Drinks for about 45.6 billion yen ($419 million), the Chinese dairy giant’s latest foray into the continent. Mengniu will pick up Lion’s milk, yogurt and juice products, the companies said in a statemen. The deal is expected to close in the first half ...

Bloomberg Southeast Asian payments platform 2C2P Pte, which helps airlines, travel companies and online shopping malls handle payments from customers in the region, has raised $52 million from investors including the World Bank’s International Finance Corp, Cento Ventures and Arbor Ventures to fund expansion. The new funding round will bolster the company’s position in Southeast Asia’s burgeoning digital payments market ...

Bloomberg SoftBank Group will this week begin a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by WeWork cofounder Adam Neumann, two people familiar with the matter said. Tender offer will go ahead based on the previously announced terms of $19.19 per WeWork share. No talks between SoftBank and ...

Bloomberg Stocks climbed globally along with US equity futures as investors digested China’s decision to tighten intellectual property rules, a move that may boost the chances of a trade deal between the world’s largest economies. Treasuries and the yen both dipped. All 19 sectors rose on the Stoxx Europe 600 Index and all major markets advanced, from the UK to ...

Bloomberg Bitcoin sank more than 10% to the lowest level in six months, extending last week’s slide past the weekend on concerns about a crackdown on cryptocurrency operations by China. The digital currency plunged as much as 11% from November 22’s close and was trading below $6,600 as of 1:50 pm in Hong Kong, according to Bloomberg composite pricing. It’s ...

Bloomberg The International Monetary Fund (IMF) called on Japan’s government and the Bank of Japan (BOJ) to cooperate more in support of the economy as it cut its 2019 growth forecast for the third time this year amid heightened global risks. Speaking at the conclusion of the fund’s annual mission to review Japan’s economy, IMF managing director Kristalina Georgieva essentially ...

Bloomberg Italy may be willing to compromise on its holdout against a German plan for further integration of the European Union’s banking system that includes setting limits on holdings of sovereign debt. Vincenzo Amendola, Italy’s minister for European Affairs, said in an interview in Rome that he is confident that a “good compromise” can be found in the next month. ...

Bloomberg After half a decade of negative interest rates, one of the biggest Nordic pension funds is wondering whether this is just the beginning. The head of investments at Finland’s Ilmarinen Mutual Pension Insurance Co says his industry is “just starting to see what kind of new challenges [negative rates] will cause.” That means “we are just taking the first ...

Bloomberg Landlocked Laos may be a net beneficiary of the trade tension between the US and China. Chinese foreign-direct investment has climbed since the trade war began as firms seek alternative manufacturing sites to avoid US tariffs, said Bank of the Lao PDR deputy governor Vathana Dalaloy. “We may gain more than we lose,” she said in an interview in ...