IFC partners Japan’s Sumitomo Mitsui to set up $1b trade financing facility


The International Finance corporation is investing a 50 percent stake in the $1 billion risk sharing facility to Japan’s Sumitomo Mitsui Banking Corporation.

Google CEO Sundar Pichai receives stock grant worth $199m

Google Chief Executive Sundar Pichai received restricted stock worth about $199 million, according to a regulatory filing by Google parent company Alphabet Inc. Pichai, who took over in August, received a grant for 273,328 Class C Google stock units on February 3. The valuation is based on the stock‘s closing… Read more »

SpaceX rocket set for next flight as company boosts production

Space Exploration Technologies, or SpaceX, will attempt its second launch of the year this month, as it ramps up production of its Falcon 9rockets to handle more than $8 billion of business for NASA and commercial companies, officials said. The next SpaceX launch is scheduled for Feb. 24, its customer,… Read more »

Asia Dealbook: Sony buys Altair for $200m; Adways invests in Daylight Studios; mPrest raises $20m

Sony is consolidating and strengthening its position with the acquisition of Altair Semiconductor, while Tokyo-based Adways has made an undisclosed investment in game studio Daylight Studios and defence contractor mPrest has secured a $20 million Series A investment.

Virtual reality co Wevr raises $25m from HTC, Samsung Ventures

This year, Facebook Inc’s Oculus unit, Sony Corp and others plan to introduce modern VR headsets. Wevr and other companies are making VR videos to lure audiences to the medium.

Tiger Global still likes Internet names, gets pointers from Jeter

Tiger Global Management still likes Amazon, Netflix and JD.com, which fueled last year’s positive returns, even as their stock tumbled in January, leaving the hedge fund with a double digit loss at the start of the year.

China’s Chongqing Casin Enterprise Group to buy Chicago Stock Exchange

Chicago Stock Exchange Inc, one of the oldest exchanges in the United States, on Friday announced its planned sale to an investor group led by China’s Chongqing Casin Enterprise Group. The parties did not disclose terms of the deal, which is expected to close in the second half of the… Read more »

LinkedIn sheds $11b in value on stock’s worst day since debut

LinkedIn Corp’s shares closed down 43.6 percent on Friday, wiping out nearly $11 billion of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations. The stock plunged as much as 46.5 percent to a more than three-year low… Read more »

BlackBerry cuts 200 US jobs in Ontario, Florida to trim costs

BlackBerry Ltd is cutting 200 jobs at its hometown headquarters in Ontario and in Florida in order to trim costs, it said on Friday, as the smartphone maker moves to turn around its fortunes and put more emphasis on its enterprise software business. “As BlackBerry continues to execute its turnaround plan,… Read more »

ArcelorMittal to raise $3b from investors, sell $1b stake in Gestamp to combat industry slump

The stock fell as much as 11 percent, the biggest intraday drop since Dec. 2, to 3.3 euros and traded 6.6 percent lower at 3.445 euros by 11:06 a.m. in Amsterdam