January, 2021

• 9 January

  Chip shortage hits global automakers

  

  Bloomberg A semiconductor shortage is pinching some of the world’s biggest auto manufacturers, costing Daimler AG, Nissan Motor Co., Honda Motor Co., Ford Motor Co. and Fiat Chrysler Automobiles NV production for a range of cars. Mercedes-Benz maker Daimler joined its German peer Volkswagen AG in announcing it’s affected by the industrywide supply bottleneck, without quantifying the impact. Honda said …

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• 9 January

  Hyundai walks back on comment linking it with Apple’s car plans

  

  Bloomberg Hyundai Motor backed away from a statement confirming it is in talks with Apple Inc. on developing self-driving car that fuelled an $8 billion surge in the Korean automaker’s market value, saying instead that it received requests for potential cooperation from a number of companies. Revising its statement for the second time in a matter of hours, Hyundai said …

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• 9 January

  Rivian close to raise funds at $25b valuation

  Bloomberg Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc. and Ford Motor Co., is close to raising a new round of funding valuing it at about $25 billion, according to people familiar with the matter. Several existing Rivian investors are participating in the round, which will raise several billion dollars. Existing investors in company include Amazon, T. Rowe …

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• 9 January

  Equifax all set to tackle e-commerce fraud with $640mn Kount deal

  

  Bloomberg Equifax Inc. agreed to acquire Kount Inc., which offers fraud protection for e-commerce retailers, for $640 million. The transaction is expected to close in the first quarter, Atlanta-based Equifax said in a statement Friday. Kount’s employees will continue to be based in Boise, Idaho, and will report to Equifax’s US information-solutions unit. The credit-reporting firm has been building out …

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• 9 January

  Samsung rises to record on strong memory market outlook

  

  Bloomberg Samsung Electronics Co. shares rise 7.1% to a record high in Seoul amid signs of a rebound in the memory-chip market and off the back of a surge in earnings. South Korea’s biggest company posted a 26% increase in operating income to 9 trillion won ($8.3 billion) for the three months ended December in preliminary results. That compares with …

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• 7 January

  Investcorp portfolio firm Impero acquires Netop

  

  BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Impero, a provider of online student safety and classroom and network management software, has acquired Netop, an international software solutions provider to the education sector and corporates, from Consolidated Holdings A/S. Terms of the transaction were …

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• 7 January

  OIC welcomes signing of Al Ula Declaration

  JEDDAH / WAM The Organisation of Islamic Cooperation (OIC) has welcomed the signing of Al Ula Declaration by the leaders of the GCC member states at the 41st GCC Summit which took place in Al Ula Governorate, Saudi Arabia. The OIC’s Secretary-General Dr Yousef bin Ahmad Al Othaimeen praised the efforts of the GCC’s leaders.

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• 7 January

  Airlines start to scrap UK’s flights after new lockdown

  

  Bloomberg Airlines kicked off 2021 by shrinking their already meager UK schedules, prompted by a new coronavirus lockdown and the prospect of further restrictions on travel abroad. EasyJet Plc, Britain’s biggest discount carrier, pared back its flying program to prioritise essential connections between key UK cities and “a small number of international routes.” British Airways said it’ll keep crucial links …

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• 7 January

  TPG-backed startup plans IPO at $3b value

  

  Bloomberg Nykaa E-Retail Pvt is planning an initial public offering as soon as this year that could value the Indian online cosmetic retailer at a minimum $3 billion, according to people familiar with the matter. The startup founded by Falguni Nayar, a former investment banker, is working with advisers to prepare for the share sale in Mumbai, the people said. …

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• 7 January

  Qantas reopens ticket sales for international flights from July

  

  Bloomberg Qantas Airways Ltd has started taking bookings for international flights from July 1 in a perhaps optimistic view that by then, vaccinations will have begun to curb the spread of the coronavirus and travel demand will pick up. Ticket sales for Japan, Hong Kong and Singapore, which had been set to start in March, have been pushed back to …

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