TikTok Parent ByteDance in Talks to Raise $2 Billion Before Possible Hong Kong Listing: Report

first_imgIt could result in Beijing-based ByteDance eventually listing some of its biggest assets, such as Douyin, the Chinese version of TikTok, in Hong Kong.ByteDance is currently fighting to avoid US attempts to ban TikTok over national security concerns.Listing ByteDance assets could provide a major boost for Hong Kong’s market, which has been weighed down by the US-China trade war, the coronavirus pandemic and last year’s roiling pro-democracy protests.- Advertisement – Beijing is pushing its tech giants to list on Chinese exchanges.Hong Kong and Shanghai were set this week for the dual listing of Ant, the Alibaba-linked digital payments and finance provider, which would have been a world-record IPO.But it was pulled at the last minute amid an escalating dispute between Ant, whose controlling shareholder is billionaire Alibaba co-founder Jack Ma, and Chinese regulators. – Advertisement – Citing fears of systemic financial risks, Beijing has imposed new restrictions on fast-growing online lending and credit products, like those offered by Ant, in the run-up to the share issue.This was seen as potentially changing the business landscape for Ant, forcing the IPO to be shelved for now.The Trump administration has insisted on the need to ban TikTok, saying it has links to the Chinese government through ByteDance and that user data could be obtained by Beijing. The popular short-video platform has 100 million users in the US.TikTok has repeatedly denied the claim. ByteDance has avoided a ban in the country by setting up TikTok Global, which will run the short-video app’s US operations and be part-owned by Walmart and Oracle.Are iPhone 12 mini, HomePod mini the Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. ByteDance, the Chinese parent of viral video platform TikTok, is in talks to raise $2 billion (roughly Rs. 14,800 crores) from investors before a possible listing of some of its businesses in Hong Kong, according to a report.The plan could eventually value ByteDance at a massive $180 billion (roughly Rs. 13,31,300 crores), Bloomberg News reported late Thursday, citing people familiar with the talks.- Advertisement – – Advertisement –last_img read more

​PFA launches climate pensions option to ‘set new standard’

first_imgPFA, Denmark’s biggest commercial pension fund, says it is launching a new market-rate investment option for pension customers, in which the underlying investments will be carbon negative in 10 years’ time.The DKK576bn (€77bn) mutual pensions giant warned of potential short-term volatility in the product, but said long-term risk levels would be the same as those of its main product.Allan Polack, PFA chief executive officer, said: “With PFA Climate Plus, we wish to set a new standard for sustainable pension investments to counteract the vast climate changes, which are a cause for concern for many of our customers.”The pension fund said asset selection for its new product would be a two-step process. Potential investments would first be examined against PFA’s existing criteria – potential for strong returns and its policy on responsible investment and active ownership – and secondly, using climate-focused criteria, assessing an investment’s contribution to the green transition. “The investment of pension savings is one of most significant ways in which an individual can make a difference,” said Polack.In the long term, PFA Climate Plus will have the same level of risk and return expectations as the market-rate product PFA Plus, the firm said. But because the climate-focused selection criteria reduced the availability of potential investments, it said returns might fluctuate more in isolated periods.The move follows the launch last June by Danish mutual pensions provider AP Pension of a sustainable pension investment option, which allows customers to use their money to contribute to the UN’s Sustainable Development Goals (SDGs) and the green energy transition.AP Pension said at the time that all bonds within the product – AP Sustainable – would be green bonds, while the option’s equity mix would only contain firms generating at least 60% of revenue from activities associated with one or more of the United Nations’ Sustainable Development Goals.PFA said its new sustainable pensions product is to emit 60% less CO2 than the MSCI World Index and be completely carbon neutral by 2025 at the latest.“The ambition is a CO2-negative portfolio by 2030, meaning that it will pull more CO2 from the atmosphere than the investments emit,” the Copenhagen-based firm said. PFA also said it expects a segment of the new fund to be dedicated to venture capital, focusing particularly on tech companies whose activities could potentially speed up the green transition.The pension fund said PFA Climate Plus will be available to customers from this summer.last_img read more

B&H Basketball Team Will Not Take Part in World Championships

first_imgThe International Basketball Federation (FIBA) awarded four special invitations (wild card) for the World Championships in Spain to Brazil, Finland, Greece and Turkey.The request for one of the four invitations was sent by a total of 15 teams, among which was the B&H Basketball Association.24 teams will take part in the World Championships for basketball: Angola, Argentina, Australia, Brazil, Croatia, Dominican Republic, Egypt, Finland, France, Greece, Iran, Korea, Lithuania, Mexico, New Zealand, Philippines, Puerto Rico, Senegal, Serbia, Slovenia, Spain, Turkey, Ukraine and the US, said Fena.(Source: Fena)last_img read more

Reports – Tottenham in advanced talks with Germany World Cup winner

first_img Christoph Kramer 1 Tottenham are in advanced talks to bring German World Cup winner Christoph Kramer to White Hart Lane, according to reports in Germany.The 23-year-old is currently in the second season of a two-year spell at Borussia Monchengladbach from parent club Bayer Leverkusen and has been scouted by Spurs Technical Director Franco Baldini on several occasions this term.Kramer, who can operate in a variety of midfield roles, has impressed Mauricio Pochettino and could be the man to turn around the north London club’s below-par start to the Premier League campaign.The talented defensive midfielder has impressed at Monchengladbach but it remains to be seen whether the Bundesliga outfit can find the funds to capture the Germany international on a permanent deal.That could open the door for Spurs to move for Kramer and tempt Leverkusen to cash in on the player while his stock is still high following his World Cup final appearance in Brazil.last_img read more

Messi hat-trick helps Barca equal record unbeaten streak

first_img0Shares0000Lionel Messi scored his third hat-trick of the season as Barcelona equalled the longest unbeaten run in La Liga © AFP / Josep LAGOMADRID, Spain, Apr 7 – Barcelona equalled the record longest unbeaten run in La Liga history as a Lionel Messi hat-trick inspired the runaway leaders to a 3-1 win over Leganes on Saturday to make it 38 league games unbeaten.The Catalan giants will look to break the record that Real Sociedad set in 1979-80 when they host Valencia next weekend, with Ernesto Valverde’s side now just seven matches from becoming the first La Liga side to go through a campaign without tasting defeat. Messi was the star of the show at the Camp Nou with a magnificent treble, as Barca stretched their lead at the top to 12 points ahead of second-placed Atletico Madrid’s derby against Real Madrid on Sunday.“This unbeaten record has not only been achieved this season, but also last year under (former coach) Luis Enrique,” said Barca coach Valverde.“It’s a shared record, because it crossed over between seasons. It has been quite difficult, because of the fact it’s an old record that hasn’t been broken for a long time.”Valverde named a strong side despite having a Champions League quarter-final, second leg on Tuesday at Roma, with Messi, Luis Suarez and Philippe Coutinho all starting.Suarez passed up two good early chances to put Barca ahead, prodding wide and then seeing visiting goalkeeper Ivan Cuellar deny him with an excellent save.But the hosts moved in front in the 27th minute through a trademark Messi free-kick.The Argentinian stepped up and curled the ball over the ball and into the bottom corner from 25 yards out to score his 27th league goal of the season.It didn’t take the 30-year-old long to double his tally for the day, latching onto Coutinho’s through ball and firing low into the corner.Barcelona eased off in the second half, perhaps with the midweek clash at the Stadio Olimpico on their minds, and Leganes hit back midway through the second half.Former Liverpool winger Nabil El Zhar cut inside and fired into the bottom corner from the edge of the box despite slipping as he shot.But the home side finished off the match as a contest late on with Messi completing his third hat-trick of the season in style.The five-time Ballon d’Or winner chested down Ousmane Dembele’s pass and dinked the ball over Cuellar with consummate ease.“To score goals is always good. We think that Messi has to stay active and he avoids any muscular problems,” added Valverde.“He’s doing well and we saw that tonight. Looking forward to the next matches, the way he played is good news for us.”Barca will now turn their attentions to avoiding a disaster in Italy as they defend a 4-1 first-leg lead, still bidding to complete the treble with a Copa del Rey final against Sevilla to come in a fortnight’s time.Earlier on Saturday, Sevilla’s hopes of qualifying for Europe next season took a hit with a 4-0 thumping at Celta Vigo.Vincenzo Montella’s side were taken apart by former striker Iago Aspas’ hat-trick, as the ex-Liverpool man strengthened his claim for a place in Spain’s World Cup squad.Sevilla face Bayern Munich on Wednesday’s at the Allianz Arena needing to overturn a 2-1 deficit to reach the Champions League semi-finals.Real Betis moved up to fifth with a fourth straight win as they saw off Eibar 2-0, while Alaves all but secured safety by beating Getafe.0Shares0000(Visited 1 times, 1 visits today)last_img read more