May, 2021

• 8 May

  Spotify’s competition in Africa won hearts of listeners

  

  Bloomberg A company that’s barely known in the US and Europe is the most successful online music platform in Africa — making it target number one in Spotify’s campaign to dominate the continent’s streaming market. Audiomack Inc. won the hearts of many Africans by allowing those without a premium subscription to download songs and listen offline. The feature lets customers …

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• 8 May

  Apple faces supply shortage of iPad displays

  Bloomberg The next-generation display destined to be a highlight of Apple Inc.’s upcoming top-tier iPad Pro is facing production issues that could lead to short initial supplies of the new device, according to people familiar with the matter. The Cupertino, California-based tech giant plans to showcase a new MiniLED display technology in the 12.9-inch iPad Pro set to be announced …

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• 6 May

  RBI steps up loan relief, liquidity for India’s coronavirus fight

  

  Bloomberg India’s central bank announced new loan-relief measures for small businesses and pledged to inject 500 billion rupees ($6.8 billion) of liquidity to support the economy against a second deadly coronavirus wave. Some businesses will be eligible for loan restructuring to give them more time to repay debt and keep them going through the pandemic, Reserve Bank of India Governor …

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• 6 May

  Replacing coal plants with renewables is cheaper 80% of time

  

  Bloomberg About 80% of US coal plants are now more expensive to keep running than to swap out for new wind and solar capacity, according to a report from Energy Innovation, a non-partisan climate and energy think tank. While renewables cost more than fossil energy for much of the last century, prices for new wind and solar have dropped so …

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• 6 May

  Nestle unveils plant-based milk brand to rival others

  

  Bloomberg Nestle SA is introducing a plant-based milk brand to compete with Danone’s Alpro and Oatly AB in the growing market for dairy substitutes. The pea-based milk alternative, called Wunda, will be available in France, the Netherlands and Portugal in the coming weeks, the Swiss maker of Nespresso coffee and Purina pet food said in a statement on Wednesday. A …

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• 6 May

  Bombardier to exit Alstom stake with $630m share sale

  

  Bloomberg Bombardier Inc is selling its stake in Alstom SA in a deal that would generate proceeds of more than $630 million at current market prices. The offering has gathered enough investor demand to cover the sale, according to terms seen by Bloomberg. Price guidance will follow and such accelerated offerings typically come at a discount. After completion of the …

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• 6 May

  Tesco steps up healthy food pledge amid investor pressure

  

  Bloomberg Tesco Plc has pledged to boost sales of healthier food and drink across its entire retail business in a bid to stave off further pressure from investors over concerns its products cause obesity. The company aims to include its central European operations and wholesaler Booker Group Ltd in a pledge to increase the share of healthy product sales, Tesco …

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• 6 May

  Insects eat airport food waste to make fish feed

  Bloomberg A Singaporean company will feed airport food waste to crickets and mealworms before turning them into fish feed, aiming to cut the country’s use of imported feed and offer a sustainable alternative. Blue Aqua International will partner dnata, an air and travel services provider, to convert organic waste from its catering and ground handling operations at Singapore’s Changi Airport …

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• 6 May

  Jessica Alba’s Honest, investors raise $413 million in IPO

  

  Bloomberg The Honest Co, the personal care brand co-founded by actress Jessica Alba, raised $413 million in an initial public offering priced within a marketed range. The company and its shareholders sold about 25.8 million shares for $16 each, according to a statement confirming an earlier Bloomberg News report. The shares had been marketed for $14 to $17, with the …

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• 6 May

  Steinhoff seeks $1.2b from Pepco’s IPO

  Bloomberg Steinhoff International Holdings is looking to raise as much as 4.6 billion zloty ($1.2 billion) by listing its European discount retail arm Pepco Group in Poland, capitalising on increased demand for discount goods amid the coronavirus crisis. The South African retailer and other holders plan to sell 101.3 million existing shares, the company said in a statement on Wednesday. …

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