ADB to double annual climate financing to $6b by 2020


To counter climate change, especially in developing countries, the Asian Development Bank (ADB) on Friday announced that it will double its annual climate financing to $6 billion, up from the current $3 billion, by 2020. With this, ADB’s spending on tackling climate change will rise to around 30% of its… Read more »

Global IPO activity sees sharp contraction in Q3 due to market volatility: EY Report

The third quarter of 2015 (Q3 2015) has seen a distinct change in global IPO (initial public offering) activity and investor sentiment, due to volatility in the Chinese market. Despite what EY has described as a stellar 2Q 2015, with China seeing its busiest quarter on record, IPO activity in emerging markets… Read more »

New iPhones hit stores, record sales expected in first weekend

The new iPhone 6s and 6s Plus hit stores on Friday, with dozens of people – and a robot – queueing in Sydney to kick off a global sales cycle that will be scrutinized for signs of how much juice Apple Inc’s marquee product has left. Analysts expect a record… Read more »

Facebook expands free basic services on platform

Facebook Inc. has expanded its free basic Internet services under the initiative in 19 countries, the company said in a blog post. “Starting today, more than one billion people who have access to’s free basic services across Asia, Africa and Latin America will now be able to access… Read more »

New iPhone 6s to hit stores today in test for Apple

The new iPhone 6s and 6s Plus arrive in stores and at consumers’ doorsteps on Friday, kicking off a sales cycle that will be scrutinized for signs of how much juice Apple’s marquee product has left. Apple has a tough act to follow after the success of the iPhone 6,… Read more »

Pivoting after failed Syngenta bid, Monsanto to build big data business

With its shares trading at three-year-lows since it abandoned a $46 billion bid to buy Syngenta AG last month, Monsanto Co plans to offer its shareholders a new corporate vision: a future in big data. Monsanto executives are seeking to reposition the company as a business built on data science and… Read more »

PE firm EMR teams up to buy Australian copper miner from India’s Hindalco

Private equity firm EMR Capital has teamed up with the former head of Equinox Minerals to buy a small Australian copper mine for up to A$15 million ($10.75 million) plus taking on about A$40 million in rehabilitation bond costs, the companies said in a joint statement. The mine in Queensland… Read more »

Groupon to cut 1,100 jobs as it restructures outside N America

Groupon Inc, the operator of daily deals website, said it would cut about 1,100 jobs globally as it restructures outside North America. Groupon is shutting operations in Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay after exiting Greece and Turkey, the company said in a separate blog… Read more »

Arielle Zuckerberg to join venture firm Kleiner Perkins next month

Facebook chief executive Mark Zuckerberg’s youngest sibling, Arielle Zuckerberg, is reportedly set to join Silicon Valley-based venture capital (VC) firm Kleiner Perkins Caufield & Byers next month as an associate partner. TechCrunch reported that sources familiar with the VC firm that Zuckerberg, formerly a product manager at Google and currently working with… Read more »

Instagram now at more than 400m users

Instagram now has more than 400 million users, the company announced Tuesday, making it far larger than rival Twitter Inc with 100 million more users. The photo-sharing app has grown rapidly over the past three years, faster than many of its social app competitors, including Twitter and Snapchat. The Facebook… Read more »