Monday, 3 Aug 2020

Analysis & Comment

MTN Uganda stake sale to be restricted to East Africans -regulator

KAMPALA (Reuters) – The sale of a 20% equity stake in MTN Uganda, the country’s biggest telecoms operator, will be restricted to citizens of the East African Community trading bloc, a spokesman for the sector regulator said on Friday. The government is forcing all telecom operators, including MTN Uganda and the local unit of India’s […]

UniCredit CEO sceptical that COVID-19 will speed up bank mergers

MILAN (Reuters) – The head of UniCredit (CRDI.MI) on Wednesday said Italy’s biggest bank was not interested in mergers and that it was unclear whether the coronavirus crisis would drive consolidation in European banking in general. In an interview with Euromoney carried out over Zoom, UniCredit CEO Jean Pierre Mustier dismissed as “fantasy” recent media […]

Commentary: Are China, Russia winning the AI arms race?

In October 31 Chinese teenagers reported to the Beijing Institute of Technology, one of the country’s premier military research establishments. Selected from more than 5000 applicants, Chinese authorities hope they will design a new generation of artificial intelligence weapons systems that could range from microscopic robots to computer worms, submarines, drones and tanks. The program […]

Brazilian drug distributor Dimed approves share offering

SAO PAULO (Reuters) – Brazilian drug distributor Dimed SA Distribuidora (PNVL4.SA) has approved the sale of up to 38 million shares, the company said in a securities filing on Friday. According to the filing, the company will sell 16 million new shares and shareholders such as pension fund Petros, which manages retirement accounts for employees […]

Bill Ackman-backed blank check firm raises IPO size to $4 billion

(Reuters) – Pershing Square Tontine Holdings Ltd, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special-purpose acquisition firm. The firm plans to go public with 200 million units at $20 each, according […]

Chinese EV maker Li Auto files for U.S. listing

BEIJING (Reuters) – Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping (3690.HK), has filed for a U.S. initial public offering. The move, announced on Friday, comes as share prices of EV makers including Tesla Inc (TSLA.O) and Nio Inc (NIO.N) have surged in recent months. Five-year-old Li Auto, […]

Aeromexico looking to restructure seven bonds worth $300 million: media

MEXICO CITY (Reuters) – Mexican airline Aeromexico (AEROMEX.MX) is looking to restructure 7 bonds worth a total of 6.8 billion pesos ($300 million), a Mexican media outlet said on Tuesday, after filing for bankruptcy due to the fallout from the coronavirus pandemic. Mexican financial newspaper Sentido Comun said Aeromexico, which is part-owned by Delta Air […]

Aeromexico sets investor meetings to discuss debt overhaul

MEXICO CITY (Reuters) – Mexico’s Aeromexico (AEROMEX.MX) on Monday scheduled meetings with investors to discuss debt restructuring after becoming the third large Latin American carrier to file for Chapter 11 bankruptcy protection last week. Management of the airline part-owned by Delta Air Lines Inc (DAL.N) proposed focusing on the modification of payment terms for stocks […]

World in transition – the 4 big challenges

Rapid change is now a constant, globally important institutions are questioned or coming apart, a lot of churn is happening, in society, in the economy, and geopolitical shifts are in the offing. You are familiar with William Butler Yeats’ poem The Second Coming. I think it captures the mood presented by the profound challenges we […]

Commentary: Putin can't afford to ditch the dollar

Paul Manafort, while managing Donald Trump’s 2016 election campaign, is accused of passing private polling data to his Russia business partner, a man with alleged ties to Russian intelligence. This new information, revealed in an unsealed court filing, is likely to stoke the case in Congress for increased sanctions against Russia. Equally importantly, the reverberations […]