Dec 16 (Reuters) – Blackstone is leading a $400 million investment in Cyera that values the Israeli data-security startup at $9 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Cyera, founded in 2021 and backed by venture capital firms Sequoia Capital and Accel, has an artificial intelligence (AI)-powered platform. …
LONDON, Dec 17 (Reuters) – The British government said on Wednesday it will provide financial support to safeguard chemical production and hundreds of jobs at Grangemouth, the country’s last ethylene plant, in a partnership with chemicals group INEOS. Ethylene is used in medical-grade plastics and the wider chemical supply chain, including water treatment, as well …
UK to provide financial support to save its last ethylene plant Read More »
By Divya Rajagopal TORONTO, Dec 16 (Reuters) – Canada’s swift approval of the $53 billion merger between British miner Anglo American and Canada’s Teck Resources signals a push to attract investment to offset the impact of U.S. tariffs, dealmakers told Reuters. Late Monday night, Melanie Joly, Canada’s Innovation, Science, and Economic Development Minister, said that …
Swift Anglo-Teck merger approval shows Canada’s pro-business shift, dealmakers say Read More »
Dec 16 (Reuters) – The European Commission on Tuesday made public proposals that would reverse an effective ban on sales of new internal combustion engine cars from 2035, bowing to pressure from Germany, Italy and major automakers. The proposed package cuts the planned 2035 goal to a 90% reduction in tailpipe emissions compared with 2021, …
Auto sector divided as EU unveils plans to undo 2035 combustion engine ban Read More »
Dec 16 (Reuters) – Sweden’s Polestar said on Tuesday it has entered into a loan agreement worth up to $600 million with its majority owner, China’s Geely Holding, at a time when the company is grappling with a cash crunch amid a broad slowdown in EV demand. The shareholder loan, to be given through Geely’s …
Polestar secures $600 million loan from majority owner Geely Holding Read More »
(Corrects paragraph 7 to make clear Midad Energy is not part of Al Fozan Holding) By Jarrett Renshaw and Dmitry Zhdannikov Dec 16 (Reuters) – Saudi Arabia’s Midad Energy has emerged as one of the leading contenders to buy Russian oil major Lukoil’s international assets, leveraging deep political ties with Moscow and Washington, three people …
Saudi firm Midad among frontrunners to buy Lukoil’s global assets, sources say Read More »
MILAN, Dec 16 (Reuters) – Stellantis said on Tuesday the European Commission’s proposals to support the auto industry’s energy transition failed to address key challenges, including a roadmap for light commercial vehicles and flexibility on 2030 targets for passenger cars. Europe’s second largest carmaker welcomed plans to revise the 2035 carbon reduction target but said …
Stellantis says EU proposals fall short on auto industry’s energy transition needs Read More »
ROME, Dec 16 (Reuters) – Italian plans to harness offshore wind energy are grinding to a halt, putting the country’s climate goals at risk and hitting firms that have invested in the sector, analysts say. A 2024 government decree offered incentives to spur 3.8 gigawatts (GW) of capacity by 2028, but the auctions for contracts …
Italy’s offshore wind push languishes, putting climate goals at risk Read More »
Dec 16 (Reuters) – OpenAI has appointed former British finance minister George Osborne as managing director and head of its “OpenAI for Countries” initiative, the company said on Tuesday, as the ChatGPT maker ramps up efforts to work with governments on national AI strategies. Osborne, who served as chancellor of the exchequer from 2010 to …
OpenAI taps former UK finance minister Osborne to lead global Stargate expansion Read More »
By Jessica DiNapoli NEW YORK, Dec 16 (Reuters) – Incoming Kraft Heinz CEO Steve Cahillane, who previously led cereal maker Kellogg, said in an interview with Reuters that he “reserves the right” to improve the ketchup-maker’s planned split, and would take criticism of the plan into account. “We reserve the right to improve upon the …
Incoming Kraft Heinz CEO says he reserves right to improve split Read More »
