In a move to sharpen its focus on its core markets, Liberty Mutual Insurance has announced the sale of its personal and small business operations in Western Europe to Generali Group for €2.3 billion. The deal, which is subject to regulatory approval, includes Liberty Seguros’ operations in Ireland, Northern Ireland, Portugal, and Spain. Liberty Mutual’s…
Alibaba Expands E-Commerce Empire to Europe with Tmall Launch
Paris, France: In a major move that marks an escalation of its international endeavors, Alibaba, the Chinese tech giant, announced on Thursday its plans to expand one of its key e-commerce platforms, Tmall, into Europe. The decision comes just over two months after Alibaba unveiled its strategy to divide its business into six units, granting…
Haffner Energy acquires Jacquier to strengthen industrial development in RE sector
PARIS, FRANCE: Haffner Energy announced the acquisition of Jacquier, a family-owned industrial boilermaking and general mechanics company based in the Marne region of France. This strategic acquisition builds upon their existing partnership since 2017 and will support Haffner Energy’s continued growth in the decarbonation solutions market. The acquisition of Jacquier provides Haffner Energy with enhanced…
Chicago-Based Fintech Startup Paro Secures $25 Million in Series C Funding
Chicago-based fintech startup Paro, which provides access to on-demand finance and accounting expertise, has secured $25 million in Series C funding. The round was led by Top Tier Capital Partners, with participation from existing investors Madrona Venture Group, Revolution Ventures, and Sierra Ventures. With the latest funding, Paro has raised $67 million to date. Paro…
Business Guide: Follow These Easy And Smart Guidelines And Sell More
Ready to take your business to the next level? From sales and marketing strategies, financial management tips, customer relationship advice, and more – these days there are endless ways you can improve and grow your business. But how do you know which techniques will be most effective for success? We’ve got all of the answers…
EU lawmakers vote to regulate AI
European Union lawmakers have voted to regulate the use of artificial intelligence (AI) in the region. The draft law, known as the AI Act, would ban the use of real-time and remote biometric systems, such as facial recognition scanning, as well as devices that exhibit cognitive behavioral manipulation. Technologies that classify people based on their…
China cuts key lending rate to boost slowing economy
China’s central bank lowered its key medium-term lending rates on Thursday, in a much anticipated move as the economy’s post-Covid recovery continues to lose momentum. The People’s Bank of China (PBOC) lowered the rate on 237 billion Chinese yuan ($33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis…
Xpeng Motors receives approval to introduce assisted driving tech in Beijing
BEIJING: Xpeng, a prominent Chinese electric car brand, announced on Thursday that it has received approval to deploy its assisted driving technology to users in Beijing, the nation’s capital city. The initial coverage of the technology will be limited to the “ring-road” highways encircling the city center and the main high-speed roads, as outlined in…
Divestment of Shell Pakistan by parent company may value around US$140mn
KARACHI, PAKISTAN: Shell Pakistan Limited (SHEL) is set to be sold by its parent company, Shell Global. The announcement was made in a notice to the Pakistan Stock Exchange (PSX). Shell Global has a 77.42% stake in SHEL, and the sale is subject to regulatory approvals. The company has not disclosed the identity of the…
Comms Group and Vodafone Business Expand Partnership to Enhance Microsoft Teams Calling Services
SYDNEY, AUSTRALIA: Comms Group, a leading provider of communication solutions, and Vodafone Business, a global telecommunications company, have announced an extension of their existing supply agreement. The expanded partnership aims to deliver enhanced services for Microsoft Teams calling, leveraging state-of-the-art technology and automation tools. Under the new agreement, Comms Group will offer zero-touch, self-service provisioning,…
Hitachi Energy to supply HVDC technology for subsea power link between France and Spain
Zurich, Switzerland: Hitachi Energy, a global technology leader focused on a sustainable energy future, has secured a significant order to supply four high-voltage direct current (HVDC) converter stations for the groundbreaking subsea electricity interconnection project between France and Spain. The project will boost the power exchange capacity between the two countries by 2,000 megawatts (MW)…
Anglo American and Jiangxi Copper collaborate on responsible copper
LONDON, UK: Anglo American and Jiangxi Copper Company, one of China’s largest copper producers, have signed a memorandum of understanding to work together to provide greater assurance on the way copper is mined, processed, and brought to market. The agreement was signed during a visit to Jiangxi Copper’s headquarters in Nanchang, China, and is part…