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(Reuters) – Australia’s corporate regulator commenced civil proceedings against a unit of Insurance Australia Group on Friday, for failing to pass on discounts worth A$60 million ($44.51 million) to nearly 600,000 customers. The Australian Securities and Investments Commission (ASIC) alleged that Insurance Australia Limited (IAL) – the home, motor and landlord insurance arm of IAG… More

Upstart Holdings (NASDAQ:UPST) is a relatively young company in the tech space, founded in 2012 by former Google (NASDAQ:GOOGL) employees. Upstart provides a leading, cloud-based AI lending platform. The company’s platform essentially assesses consumer demand for high-quality loans and connects it to its network of AI-enabled bank partners. Such partners include First National Bank of… More

(Reuters) -AMC Entertainment Holdings Inc boss Adam Aron said the theater chain would accept ether, bitcoin cash and litecoin alongside bitcoin for ticket purchases, as cryptocurrencies gain acceptance among mainstream investors and companies. “Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I… More

Williams-Sonoma, Inc. (NYSE:WSM) is an omnichannel specialty retailer offering a broad range of home goods, such as cooking, dining, and entertaining products. The company is on the right side of inflation. Recently, the home goods retailer hiked its dividend by 20% to 0.71 per share. This could help protect investor income from inflation, which has… More

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba (NYSE:BABA) Group Holding Ltd said on Sunday it has suspended several staff following an employee’s allegations on the company’s intranet that she was sexually assaulted by her boss and a client. The woman’s account, published via an eleven-page PDF that went on to circulate widely online, prompted a… More

By Alun John and Lawrence White HONG KONG/LONDON (Reuters) -HSBC Holdings on Monday reported forecast-beating first-half pretax profit that more than doubled from a weak performance last year when it made huge provisions for pandemic-related bad loans. Encouraged by an economic rebound in Hong Kong and Britain, its two biggest markets, HSBC reinstated dividend payments… More

BENGALURU (Reuters) – Amazon.com Inc (NASDAQ:AMZN)’s India arm is in talks with several domestic players in film and media distribution including cinema chain Inox Leisure Ltd for a potential stake, the Indian Express newspaper reported on Tuesday, citing sources. Shares of Mumbai-headquartered Inox jumped as much as 14.3% to 346.20 rupees in early trade after… More

By Anshuman Daga and Scott Murdoch SINGAPORE (Reuters) – Indonesian e-commerce firm Bukalapak has raised $1.5 billion in its initial public offering, the country’s largest issue, after pricing it at the top of an indicated price range, three sources familiar with the matter said on Wednesday. The IPO by Indonesia’s fourth-biggest e-commerce company, which is… More

KUALA LUMPUR (Reuters) – An equity deal for a planned mega project near Malaysia’s capital involving the government, developer Iskandar Waterfront Holdings (IWH) and its Chinese partner will not proceed by mutual agreement, the parties said in a joint statement. The agreement on a 7.41 billion ringgit ($1.77 billion)acquisition for 60% equity in the Bandar… More

By Humeyra Pamuk and David Shepardson WASHINGTON (Reuters) – The Biden administration is set as early as Friday to add more than 10 Chinese companies to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang, two sources told Reuters. The U.S. Commerce Department action will follow its announcement last month adding… More

By Meg Shen and John Revill HONG KONG/ZURICH (Reuters) -Syngenta Group will use the proceeds from its expected $10 billion initial public offering (IPO) to fund internal growth and an acquisition spree to snare more of the $100 billion market for seeds and sprays, the agrichemical giant said on Friday. The company’s prospectus to list… More

BERLIN (Reuters) – German carmaker Volkswagen (DE:VOWG_p) will stop selling combustion engines cars in Europe by 2035 as it shifts to electric vehicles, but later in the United States and China, a board member was quoted as saying on Saturday. “In Europe, we will exit the business with internal combustion vehicles between 2033 and 2035,… More

PARIS/BANGALORE (Reuters) -Billionaire investor William Ackman’s Pershing Square Tontine Holdings signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday. “As announced, the transaction is based on an enterprise value of 35 billion euros ($41.55 billion) for 100% of UMG’s share capital,”… More

TOKYO (Reuters) – Mizuho Financial Group Inc’s corporate culture has been responsible for repeated system failures as it is not able to respond well to crises, lacks technological expertise and is not able to show improvement, a third-party investigation found. Japan’s third-largest lender commissioned the report after having had four system breakdowns despite spending more… More

By Foo Yun Chee BRUSSELS (Reuters) -Google has bowed to pressure from rivals and will let them compete for free to be the default search engines on Android devices in Europe, widening a pledge to EU antitrust regulators two years ago. The move by the world’s most popular internet search engine comes as the 27-country… More