March, 2018

• 13 March

  Tata Sons raises $1.38 billion after upsizing its TCS offering

  

  Bloomberg Tata Sons Ltd., the holding company for India’s biggest business group, raised $1.38 billion after upsizing its offering of Tata Consultancy Services Ltd. stock, people with knowledge of the matter said. Tata Sons priced its sale of Tata Consultancy shares at about 2,872 rupees apiece, the bottom of a marketed range, according to the people, who asked not to ...

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• 13 March

  Google to help bring order in India’s address chaos

  

  Bloomberg Google’s wants to help users in India get around—no mean feat given the country’s often byzantine address system. The Alphabet Inc.-owned search giant unveiled an open-source project that aims to make sense of the chaos of India’s hyper-growth cities: a shifting warren of hidden alleys, ever-changing landmarks and missing street signs. Called Plus Codes, it’s a location-based digital tagging ...

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• 13 March

  Samsung in talks for multi-year cobalt deal

  

  Bloomberg Samsung C&T Corp., an affiliate of the world’s biggest smartphone maker, is in talks for a multi-year deal to buy cobalt from a Congolese miner, joining Apple Inc. in the global rush to secure supplies of the metal at the heart of the electric-car boom. Samsung C&T has approached Somika SPRL to buy cobalt produced at its Kisanfu mine ...

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• 13 March

  Ride-hailing giant Grab gets into old-school financial services

  

  Bloomberg After gaining success in ride-hailing, Grab co-founder Anthony Tan is pushing his startup into a new challenge: catering to those under-served by traditional financial institutions in Southeast Asia. Tan, together with GrabPay Southeast Asia Managing Director Jason Thompson, laid out his vision as the company tries to become a major financial services platform in the region. Grab, once an ...

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• 13 March

  Vedanta soars after record dividend

  Bloomberg Vedanta Ltd. rallied after India’s biggest base metals producer announced a record dividend worth $1.2 billion, potentially helping its London-listed parent pare debt. Vedanta, owned by billionaire Anil Agarwal, reversed from a loss to climb as much as 2.1 percent in Mumbai, while Vedanta Resources Plc surged 2.9 percent in London, after its board approved 21.2 rupees a share ...

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• 13 March

  To feed 1.4bn, China’s top food company goes global

  

  Bloomberg China’s largest food company is open to partnering with its competitors as it seeks to meet its biggest challenge: feeding the world’s most-populous country. “We will make sure we have a strong global supply chain to serve our goal in the China market and food security in China,” Cofco Corp. President Patrick Yu said in a Bloomberg Television interview ...

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• 13 March

  German mega-deal to shake up UK energy sector

  

  Bloomberg The 22 billion-euro ($27.1 billion) deal that’s shaking up the world of German utilities also has a very British dimension. EON SE’s acquisition of Innogy SE will combine the two UK business they own, shrinking the country’s Big Six utilities to five at a time when both the government and main opposition party are pressing for lower bills. It ...

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• 13 March

  S Africa delays renewable projects pending court hearing

  

  Bloomberg South Africa delayed signing agreements for renewable-energy projects worth 56 billion rand ($4.7 billion), after a court postponed a ruling on a labor union application to block the deals. The National Union of Metalworkers of South Africa and Transform RSA applied for an interdict to prevent state-owned utility Eskom Holdings SOC Ltd. from signing 27 power purchase agreements that ...

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• 13 March

  Saudi Arabia’s Sipchem, Sahara Petrochemical to resume merger talks

  DUBAI / Reuters Saudi International Petrochemical Co (Sipchem) said on Tuesday it was planning to resume proposed merger talks with Sahara Petrochemical in a deal that could create a 14.7 billion riyals ($3.9 bln) chemicals company. The two companies called off a planned merger in 2014, citing an inadequate regulatory framework in the kingdom for the collapse. Sipchem said on ...

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• 13 March

  New York loses bid to block millennium gas line project

  Bloomberg A US appeals court ruled against New York’s bid to block a pipeline that will shuttle natural gas to a $900 million power plant under construction there, setting a potential precedent for other battles over gas conduits. The court sided with federal energy regulators’ ruling that New York waived its right to act on the pipeline by failing make ...

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