Bloomberg Southeast Asia’s booming internet economy is set to double to $363 billion by 2025, eclipsing the previous forecast of $300 billion, research from Google, Temasek Holdings Pte and Bain & Co. shows. E-commerce, travel, media, transport and food are driving the region’s digital growth, with online spending rising 49% in 2021 to $174 billion, the companies said in their …

Bloomberg Spotify Technology SA agreed to acquire Findaway, an audiobook company that gives the Swedish streaming giant additional products to market alongside music and podcasts. Findaway is a distributor for many audiobook services, publishers and authors, and will continue to serve them after the deal closes, the companies said. The purchase marks Spotify’s most significant investment in audiobooks, and is …

Bloomberg Nissan Motor Co raised its annual operating profit outlook, a promising sign the automaker is still on track to climb out of the red this year despite parts shortages that have hammered production. The Japanese carmaker raised its forecast to an operating profit of $1.6 billion for the fiscal year through March, from 150 billion yen announced in July. …

Bloomberg Facebook parent Meta Platforms Inc will remove thousands of ad-targeting categories that helped marketers reach users of a particular race, ethnicity and religion — categories the social network says “may be perceived as sensitive.” Meta’s Facebook and Instagram don’t ask users to share their race or religion, and don’t allow marketers to target consumers based on those topics. But …

Bloomberg British Airways (BA) is set to operate a new unit offering European flights from London Gatwick airport in March following a deal with cabin crew. The breakthrough in talks with flight attendants comes after an earlier deal with pilots and leaves only terms with ground staff to be settled, Luis Gallego, chief executive officer of BA parent IAG SA, …

Bloomberg FSN E-Commerce Ventures Ltd, the entity that operates the Indian beauty startup Nykaa, rose as much as 89% on debut, even as the broader equity market dipped. The Mumbai-based firm was trading at 2,063 rupees ($28) as of 10:13 am in Mumbai on Wednesday, after pricing its initial public offering at 1,125 rupees per share, the top of a …

Bloomberg Sydney Airport agreed to sell itself to a consortium of funds for $17 billion, just as Australia reopens its borders to international travel. The airport’s board accepted an offer of A$8.75 per share from a group led by IFM Investors, and unanimously recommended shareholders vote to approve the deal early next year, the company said. The agreement is the …

Bloomberg China’s central bank will offer cheap funding to banks which lend to firms that are working towards the nation’s goal of reducing carbon emissions. The People’s Bank of China (PBOC) will lend financial institutions money to help them provide loans to firms working on China’s energy transition, according to a statement. The central bank will lend 60% of the …

Bloomberg Citigroup Inc. raised a record $40 billion for Asia-Pacific clients to finance sustainability projects this year, a six-fold increase from 2020 as the US lender strives to meet its global targets and help firms lower emissions. Issuers in the region are taking advantage of cheaper financing by issuing green bonds, tapping increased demand for these products as environmental, social …

Bloomberg Credit Agricole SA’s third-quarter profit jumped 44%, beating analysts’ estimates as provisions for bad loans declined. Net income at the Paris-based bank increased to 1.4 billion euros ($1.62 billion), according to a statement on Wednesday, exceeding the most optimistic estimate among analysts surveyed by Bloomberg. Provisions dropped 56% to 266 million euros, compared with 460.5 million euros expected in …