International News

Bloomberg A slew of ride-hailing ventures are taking to the gridlocked streets of Manila, undeterred by the market dominance of Grab now that it controls Uber in the Philippines. Hype Transport Systems Inc. and Ipara Technologies and Solutions Inc. are just two of the five new entrants approved by the regulator since Grab agreed to take over the operations of ...

Bloomberg India’s Prime Minister Narendra Modi has asked his team to crunch numbers and figure out how many jobs were created in the four years of his rule — a key factor watched by the nation headed for elections in 2019. Ministries have been instructed to come up with a detailed note on the projects and programmes undertaken by them ...

Bloomberg Qualcomm Inc, the biggest maker of mobile-phone chips, is preparing to give up its push to develop processors for data-center servers, an effort that sought to break Intel Corp’s hold on the lucrative market, according to a person familiar with the company’s plans. The San Diego-based company is exploring whether to shutter the unit or look for a new ...

Bloomberg The activist fund ValueAct Capital Management has amassed a $1.2 billion stake in Citigroup Inc., arguing that the bank long seen as trailing its sector is positioned for success by providing the “plumbing” multinational corporations need to operate. The San Francisco-based hedge fund run by Jeff Ubben, which disclosed a $75 million stake in the bank in February, has ...

Bloomberg Swedish fintech company iZettle AB announced its intention to file for an initial public offering on the Nasdaq Stockholm stock exchange. The company, which competes with Square Inc. and Canada’s Shopify Inc, is seeking to raise 2 billion kronor ($226.6 million) and in a statement on Tuesday said it expected its IPO to be completed this year. Carnegie Investment ...

Bloomberg Social Finance Inc (SoFi), a startup looking to offer a range of banking services to millennials, is working on a credit card and is bringing in a former Citigroup Inc. executive to help oversee the initiative, said people familiar with the matter. The San Francisco-based company hopes to offer credit cards within the next year, said the people, who ...

Bloomberg Athenahealth Inc. surged after activist investor Elliott Management Corp bid to acquire the medical company for $160 a share, saying executives had “failed to correct a host of operational issues.” Elliott, the New York hedge fund led by billionaire Paul Singer, said that it made an all-cash takeover offer, which would value Athenahealth at $6.46 billion. Athenahealth, which makes ...

Bloomberg There’s no other company on Earth quite like Ant Financial. Spanning online payments, insurance, lending, credit scores, asset management and more, Jack Ma’s Chinese behemoth resembles a mashup of PayPal, Geico, Wells Fargo and Equifax — with a bit of BlackRock thrown in for good measure. Thanks to clever mobile apps and a burgeoning Chinese middle class, Ant oversees ...

Bloomberg Investors couldn’t get enough of Ping An Healthcare & Technology Co.’s initial public offering. Now they can’t get out fast enough. The company, also known as Good Doctor, fell as much as 11 percent to trade below the low end of the range offered to investors in the share sale, before paring losses to 3.3 percent at 10:33 a.m. ...

Bloomberg Vinhomes JSC, the luxury residential arm of Vietnam’s biggest developer, is poised to price its $1.35 billion initial equity offering at the top end of a marketed range, people with knowledge of the matter said. Existing Vinhomes investors plan to sell shares at 114,700 dong apiece in the offering, the people said, asking not to be identified because the ...