European rival to PayPal and Square makes $317 million acquisition to expand in the U.S.

A customer uses a SumUp payment card reader in Lisbon, Portugal, on Sept. 13, 2019. Angel Garcia | Bloomberg via Getty Images LONDON — SumUp, a U.K.-based payment processor, has acquired marketing start-up Fivestars in a bid to expand its reach across the U.S. and take on giants like PayPal and Square. The company said … Read more

Warby Parker soared in its market debut, setting a high bar for other online retailers

Co-CEOs, Neil Blumenthal & Dave Gilboa of Warby Parker at the NYSE, September 29, 2021. Source: NYSE Warby Parker‘s debut Wednesday set a good precedent for a number of online-first retailers preparing to go public. Warby’s shares skyrocketed 36% Wednesday. Founded in 2010, Warby started hawking its eyewear online and has avoided using wholesale partners … Read more

Kansas City Southern picks Canadian Pacific’s $31 billion bid for railroad

Kansas City Southern (KSC) Railway locomotives idle on a fuel pad before pulling freight trains from Knoche Yard in Kansas City, Missouri, U.S., on Thursday, April 16, 2015. Luke Sharrett | Bloomberg | Getty Images Kansas City Southern has decided that a $31 billion bid from Canadian Pacific is the best of two offers on … Read more

Some Chinese stocks briefly surge 30% as investors bet on a new Beijing exchange opening

Photo taken on Aug. 19, 2021 shows a stock market trend, Shiyan, Hubei Province, China. Costfoto | Barcroft Media | Getty Images BEIJING — Shares of more than 60 little-traded mainland Chinese stocks briefly surged by at least 10% Monday as investors bet on the companies’ potential inclusion in a new Beijing stock exchange. Chinese … Read more

Nvidia’s $40 billion Arm takeover warrants an in-depth competition probe, UK regulator says

Nvidia headquarters in Santa Clara, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Nvidia’s $40 billion takeover of British chip designer Arm should be subject to an in-depth investigation, the U.K.’s competition regulator said Friday. The Competition and Markets Authority says it has sent a summary of its initial … Read more

Chinese firm behind the purchase of the UK’s largest chip plant warns deal is at risk

The Chinese firm behind the purchase of Britain’s largest chip manufacturing facility earlier this summer has admitted that the acquisition could be unwound as the U.K. government reviews the takeover. Shanghai-headquartered Wingtech Technologies warned shareholders in a note this week that “domestic and foreign industry policies” present a risk to the takeover of Newport Wafer … Read more

Cannabis company Tilray acquires majority stake in Medmen in bet on U.S. legalization

Shares of Canadian cannabis company Tilray jumped nearly 5% in extended trading on Tuesday after announcing it acquired a majority stake in American cannabis retailer Medmen. The investment provides Tilray with a retail foothold in the U.S., should cannabis be legalized at the federal level, while Medmen receives much-needed capital to keep its business afloat. … Read more

Chime raises $750 million, earns big jump in valuation as another fintech moves closer to IPO

Chime CEO Chris Britt Source: Chime Chime said Friday it raised $750 million in a Series G funding round that values the fintech company at $25 billion. That’s $10 billion higher than its last reported valuation of $15 billion from October 2020, according to PitchBook data. Chime — a so-called challenger bank known for fee-free banking, … Read more

Southeast Asia’s tech start-ups could be valued at $1 trillion by 2025, venture capital firm predicts

Drivers for GrabFood line up to collect orders at a Pisang Goreng Bu Nanik store in Jakarta, Indonesia. Dimas Ardian | Bloomberg | Getty Images SINGAPORE — Southeast Asia’s technology start-ups had a combined valuation of $340 billion last year and that figure may jump more than threefold by 2025, according to Jungle Ventures. Over … Read more

Nasdaq-listed Chinese electric carmaker Li Auto to raise up to $1.93 billion from Hong Kong listing

A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 23, 2020 in China. Li Zhihao | Visual China Group | Getty Images GUANGZHOU, China — Chinese electric vehicle start-up Li Auto plans to raise around $1.93 billion in a … Read more