Sources: Alibaba's IPO application approved by the Hong Kong stock exchange; shares to be priced on Nov. 20 with expected trading in the week of Nov. 25 — The nod clears the way for Hangzhou-based Alibaba to start a weeklong roadshow from November 13 to garner interest from global investors Shares …
Interswitch, a Nigeria-based digital payments startup, says Visa has acquired a minority stake, reportedly for $200M, at a $1B valuation, plans IPO in H1 2020 — Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm.
Enlarge / Environmental Protection Agency Administrator Andrew Wheeler. (credit: Win McNamee / Getty)
Former Texas Congressman Lamar Smith may have retired in January, but his ideas still stalk the halls of the US Environmental Protection Agency. The New York Times reported Monday that the latest incarnation of Smith's quest to change the science the EPA can use for its rule making is moving forward.
Smith had unsuccessfully pushed a bill called the "Secret Science Reform Act," which would have required the EPA to consider only those studies with data that is "publicly available in a manner sufficient for independent analysis and substantial reproduction of research results." He claimed that opponents of regulations were often unable to audit the science underlying the regulations—although those opponents could, of course, have done their own science.
The scientific community noted that this requirement would have the effect of excluding quite a lot of relevant science published in peer-reviewed journals. In particular, research on the public health impacts of pollutants is only possible through the use of confidential health data. There are systems in place to give researchers controlled access to that data, but releasing it to the public is simply not an option, and doing so very well might violate other federal rules.
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Xpeng Motors, the Chinese electric vehicle startup backed by Alibaba and Foxconn, has raised a fresh injection of $400 million in capital and has taken on Xiaomi as a strategic investor, the company announced.
The Series C includes an unidentified group of strategic and institutional investors. XPeng Motors Chairman and CEO He Xiaopeng, who also participated in the Series C, said the received strong support from many of its current shareholders. Xiaomi founder and CEO Lei Jun previously invested in the company.
“Xiaomi Corporation and Xpeng Motors have achieved significant progress through in-depth collaboration in developing technologies connecting smart phones and smart cars,” Xiaomi’s Jun said in a statement. “We believe that this strategic investment will further deepen our partnership with Xpeng in advancing innovation for intelligent hardware and the Internet of Things.”
The company didn’t disclose what its post-money valuation is now. However, a source familiar with the deal said it is “better” than the 25 billion yuan valuation it had in its last round in August 2018.
The announcement confirms an earlier report from Reuters that cited anonymous sources.
XPeng also said it has garnered “several billions” in Chinese yuan of unsecured credit lines from institutions such as China Merchants Bank, China CITIC Bank and HSBC. XPeng didn’t elaborate when asked what “several billions” means.
Brian Gu, Xpeng Motors Vice Chairman and President added that the company has been able to hit most of its business and financing targets despite economic headwinds, uncertainties in the global markets and government policy changes that have had direct impact on overall auto sales in China.
The round comes as XPeng prepares to launch its electric P7 sedan in spring 2020. Deliveries of the P7 are expected to begin in the second quarter of 2020.
Xpeng began deliveries of its first production model the G3 2019 SUV in December and shipped 10,000 models by mid-June. The company has since released an enhanced version of the G3 with a 520 km NEDC driving range.
The company plans to launch the P7 sedan in the spring 2020 and will start delivery in 2Q 2020.
XPeng has said it wants to IPO, but it’s unclear when the company might file to become a public company. No specific IPO timetable has been set and a spokesperson said the company is monitoring market conditions closely, but its current focus is on building core businesses.
Enlarge / A man receives a vaccine against Ebola from a nurse outside the Afia Himbi Health Center on July 15, 2019, in Goma. (credit: Getty | PAMELA TULIZO )
Regulators in Europe have granted the world's first approval of a vaccine against Ebola—and health officials are wasting no time in rolling it out.
The European Commission announced at the start of the week that it had granted a landmark marketing authorization of Merck's Ebola vaccine Ervebo. The vaccine has been in the works since the 2014 West African Ebola outbreak. It is now being used in the ongoing outbreak in the Democratic Republic of Congo based on a "compassionate use" protocol.
The current outbreak in the DRC has killed nearly 2,200 since August 2018, causing nearly 3,300 cases. The outbreak is the second-largest recorded, surpassed only by the 2014 West African outbreak that caused more than 11,000 deaths and 28,000 cases.
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A look at Uber's struggles in Latin America, which has been its worst performing region in the first three quarters of 2019, as Didi makes big inroads in Mexico — MEXICO CITY (Reuters) - Latin America, long a safe haven for Uber, was the biggest weak spot in the money-losing company's …
Wall Street Journal : Sources: Cantor Fitzgerald agreed to invest as much as $600M in Tether for about a 5% stake in the past year; Canto...
