Uber, lifting financial veil, says sales growth outpaces losses


Uber’s net revenue for 2016 $6.5, while adjusted net losses were $2.8b.

Apple considering multi-billion dollar investment in Toshiba chip unit

Apple Inc is considering investing at least several billion dollars in the chip business put up for sale by Toshiba Corp, public broadcaster NHK reported, citing an unidentified source. Apple wants to take a stake of more than 20 percent in Toshiba’s chip business, while convincing Toshiba to maintain a… Read more »

Billionaire Anil Agarwal’s Volcan secures 11.4% stake in Anglo American

Agarwal said that the investment was in a personal capacity.

Global sovereign fund assets stall at $6.59t: Preqin

Total assets under management have levelled off in the last two years

Australia-listed 360 Capital Group raising $280m realty opportunity fund

Australian-listed 360 Capital Group is looking to raise $370 million ($280.9 million) for an opportunistic private real estate fund, the 360 Capital 2017 Private Equity Real Estate Fund. This fund will conduct direct and indirect real estate investments in Australia. Its ASX-listed flagship Total Return Fund has provided A$74 million ($56.2 million)… Read more »

People Digest: Top appointments at UBS, Allianz, Julius Baer and CIMB

Swiss bank UBS has appointed a new chief lawyer Dan Williams as general counsel for its private bank in Asia-Pacific, while Allianz has named M&A expert Julia Zheng Kuik as the Head of Corporate Development in the region. Also, Swiss private bank Julius Baer has roped in Magdalene Low as the Group… Read more »

Australia: Fleet, Smart Sparrow & Weploy secure funding

Space tech startup Fleet, edtech firm Smart Sparrow and on-demand recruiting platform Weploy have secured funding. Fleet closes A$5m Series A Australian space startup, Fleet, has secured an A$5 million ($3.7 million) Series A round led by Blackbird Ventures, with co-investment from Atlassian’s Mike Cannon-Brookes, Earth Space Robotics, and Horizon… Read more »

Flipkart funding helps Asia VC investments rebound in Q1, top $9b

The deals in Asia rose 4% in Q1 to 405, while in dollar terms they jumped 58%

Broadcom, Western Digital among four shortlisted suitors for Toshiba chip unit

Japan’s Toshiba Corp has narrowed down the field of bidders for its chip unit to four suitors including Broadcom Ltd and Western Digital Corp, two sources with knowledge of the matter said. South Korea’s SK Hynix Inc and Taiwan’s Foxconn are the other bidders, they said, adding that Broadcom has… Read more »

Western Digital says Toshiba chip unit sale is a violation of JV contract

Western Digital Corp has warned Toshiba Corp that splitting off its chip unit prior to a planned sale of the business violates their joint chip venture contract. Western Digital, which operates a chip plant with Toshiba in Japan, said the split-off is “very serious breach of joint venture agreements,” according… Read more »