Bloomberg Indonesia’s ride-hailing and food-delivery giant Gojek has acquired a mobile point-of-sale startup called Moka for about $130 million, according to people familiar with the deal. The transaction, which has been under negotiations since last year, was completed about a month ago, said the people, who asked not to be named because the information is private. It hasn’t been announced ...

Bloomberg Credit Suisse Group AG was stung by the collapse of Luckin Coffee Inc in China following an accounting scandal, which led to a five-fold increase in Asian loan-loss provisions. The Swiss bank set aside 97 million Swiss francs ($100 million) for soured loans, primarily related to three cases, the largest of which was Luckin Coffee, according to a person ...

Bloomberg Social Finance (SoFi) Inc acquired 8 Securities, a Hong Kong mobile investing startup, marking its first expansion outside of the US. Rebranded as SoFi Hong Kong, the company will be the only brokerage service that delivers fee-free stock trading on more than 15,000 US and Hong Kong stocks, as well as exchange traded funds, the company said. The acquisition ...

Bloomberg Richie Merzian is still thinking about oil a lot in his professional capacity, but these days he’s using much less of it. The Australian energy and climate change researcher used to drive daily to his office and his kids’ daycare, while occasionally flying to international conferences. Now he works from his home in suburban Canberra and makes presentations to ...

Bloomberg South Africa’s power utility warned coal suppliers it may halt purchases of the fuel because a nationwide lockdown to deal with the coronavirus pandemic has curtailed demand for electricity. The force-majeure notice Eskom Holdings SOC Ltd issued to miners follows a similar instruction to wind-power producers two weeks ago as the utility struggles to honor contractual agreements. It’s another ...

Bloomberg Italy and Germany showed signs that they’re beginning to consume more electricity, suggesting economic activity may be starting to increase in some corners of Europe hardest hit by the coronavirus. In France and Spain, power use was steady in the past week, while Britain suffered a further slump. Those findings from grid operators shed light on how lockdowns to ...

Bloomberg New Jersey Governor Phil Murphy will need more space in the Atlantic Ocean to meet his goal to get half the state’s electricity from offshore wind farms. There aren’t enough federal leases available off the coast of New York and New Jersey to supply the 7.5 gigawatts of wind farms that Murphy wants to develop by 2035, said Jim ...

Bloomberg Europe’s economy suffered a massive blow in April when government restrictions to contain the coronavirus left companies scrambling to stay afloat. An estimate of private-sector activity in the euro area plunged to just 13.5 from 29.7 in March, IHS Markit said on Thursday. The drop was far sharper than economists had anticipated and marks the lowest reading for the ...

Bloomberg Pacific Investment Management Co. is seeking to raise another $3 billion for a distressed credit fund as the rush to capitalise on dislocations in the fixed-income market grows. Pimco’s latest money pool — Distressed Credit Opportunities Fund III — will invest in public market securities, including corporate credit, according to documents from a Fresno County Employees’ Retirement Association meeting ...

Bloomberg Volkswagen AG is pressing ahead with the manufacturing of the ID.3 electric car and expects to start European deliveries this summer as planned, despite lingering uncertainty surrounding demand for vehicles amid the coronavirus (Covid-19) pandemic. Efforts to finish the car’s software are “on the home stretch” and the schedule for the rollout at VW’s German factory in Zwickau remains ...