Bloomberg Business

Revolut Swung to Profit in 2021, Delayed Accounts Show

Finance app Revolut Ltd. made its first annual profit in 2021 after nearly tripling its revenue, according to delayed accounts published Wednesday. Revenue growth slowed to about 30% last year.

Citigroup Clients Are Shifting Supply Chains Away from China

Citigroup Inc.’s clients are shifting supply chains away from China in a trend that is likely to last for years, according to David Livingstone, the lender’s chief executive officer for Europe, the Middle East and Africa.

G42’s $10 Billion Tech Fund Taps JD.com Exec for China Deals

Abu Dhabi artificial intelligence company G42’s $10 billion tech fund has hired a former executive from Chinese e-commerce giant JD.com Inc. as it expands its footprint across Asia, people with knowledge of the matter said.

China’s Economy Shows Strong Recovery as Covid Zero Era Ends

China’s economy is showing signs of a stronger rebound after Covid restrictions were abandoned, with manufacturing posting its biggest improvement in more than a decade, services activity climbing and the housing market stabilizing.

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