Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said. The Shenzhen-based company us seeking to raise about 200 million yuan in a series B round, the people said, requesting not to be named discussing a private matter.
Category: World News
China Blue Chips Post Best Day in 6 Months
China’s blue-chip index posted its biggest daily gain in six months on Monday after media reports said pension funds may begin flowing into the country’s stock markets as early as this week. Investor sentiment was also supposed by new rules unveiled by regulators late on Friday to restrict “excessive” and “frequent” fundraising by some listed companies.
China Blue Chips Post Best Day in 6 Months
China’s blue-chip index posted its biggest daily gain in six months on Monday after media reports said pension funds may begin flowing into the country’s stock markets as early as this week. Investor sentiment was also supposed by new rules unveiled by regulators late on Friday to restrict “excessive” and “frequent” fundraising by some listed companies.
Oil Rises, But Drilling Drags on Prices
Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. Brent futures were up 17 cents at $55.98 a barrel at 0616 GMT, while U.S. West Texas Intermediate crude was up 15 cents at $53.55.
China’s CNPC Buys Stake in $22 Billion Abu Dhabi Oil Venture
China National Petroleum Corp. bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6 percent of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity. Abu Dhabi National Oil Co.
UAE seals deal with China’s CNPC for onshore oil project
The United Arab Emirates’ main state oil company has signed a deal giving China National Petroleum Company an 8 percent stake in a major onshore oil project. ADNOC has set aside 40 percent of the ADCO project for foreign partners.
UN Syria envoy seeks momentum in upcoming Geneva talks
Staffan de Mistura, UN Special Envoy of the Secretary General for Syria, speaks on the last day of the Munich Security Conference in Munich, Germany, Sunday Feb.19, 2017. Staffan de Mistura, UN Special Envoy of the Secretary General for Syria, speaks on the last day of the Munich Security Conference in Munich, Germany, Sunday Feb.19, 2017.
Trump Sons Open Dubai Golf Course, Praise U.S. Ally
Banke International director Niraj Masand, far left, poses for a photo with Eric Trump, second left, Banke International director Porush Jhunjhunwala, center, Donald Trump Jr., second right, and DAMAC Properties chairman Hussain Sajwani, during … festivities marking the formal opening of the Trump International Golf Club, in Dubai, United Arab Emirates, Saturday Feb. 18, 2017. Two of U.S. President Donald Trump’s sons arrived in the UAE for an invitation-only ceremony Saturday to formally open the club.
Merkel Says Weak Euro Isn’t Her `Problem’ in Stand on Trump
German Chancellor Angela Merkel said the euro has a “valuation problem” that’s beyond her control and questioned President Donald Trump’s suggestion that the German luxury cars in his New York neighborhood reflect an unfair trade advantage. Merkel said the euro’s exchange rate does contribute to Germany’s trade surplus, though that’s because European Central Bank’s needs to set monetary policy that responds to disparate economic performances across 19 nations.
Samsung Heir Lee Arrives Shackled at Special Prosecutors Office
South Korean police on Saturday led Jay Y. Lee, hands bound with rope, into a special prosecutors office after arresting the de facto head of the country’s largest industrial conglomerate in a corruption probe that includes allegations of bribery. Lee, vice chairman of Samsung Electronics Co., was shown on a YTN television broadcast being led into the office in Seoul around 2:20 p.m. local time after spending his first night in police custody.
In The Trump Age, Developers Are Building Apps To Help Refugees
The refugee ban has led to the creation of several new apps designed to help refugees, who often carry smartphones. For refugees escaping conflict in the Middle East and elsewhere, simply communicating with people in new countries can be a big challenge.
The economic reality behind the Boeing plane Trump showed off
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events NORTH CHARLESTON, S.C. — President Trump visited a Boeing factory Friday to show off the company’s newest model of the 787 Dreamliner , the latest in a series of planes that experts describe as a marvel of aeronautical engineering. The fuel-efficient construction allows the newest model to fly from London to Cape Town, South Africa, without refueling – an extraordinary distance for a 330-passenger There is one number on which the Dreamliners are still coming up short, however: return on investment.
Why It Makes Sense for Apple to Make iPhone SEs in India, but Not Other Models
The tech giant’s reported plans to produce the low-cost iPhone model in India would allow it to avoid important tariffs and possibly obtain lower labor costs. For years, Tim Cook has argued that India is Apple’s next big emerging markets growth opportunity as its huge population, growing middle class and 4G network rollouts create a large base of consumers able and willing to buy a high-end smartphone.
How the Trump Trade Survived a North Korean Missile, Russian Sub and the NYT
On the darkest day yet for the Trump Administration, Wednesday, with national media and intelligence officials swarming, the second of the President’s proposed advisers out in two days, a new North Korean threat in play, and a Russian sub off the coast of Connecticut, the markets… rose? Not only rose but surged to another record, the longest run in 25 years, since the first President Bush. Nasdaq , Russell , Dow , FANG, financials, retails, transports; the worse the drama out of Washington, the bigger the tear.
What’s Holding Oil Up in Spite of Itself?
Oil looks ripe for a very big selloff. Record inventories. Record inventories in gasoline.
Oil Prices Slip as High Stocks Overshadow OPEC Cuts
Oil slipped on Friday, pressured by growing global stocks, while expectations that an oil output cut by producers might eventually balance the market helped to underpin prices. Both appeared on track for losses on the week, though prices had moved higher earlier in the session in response to news that producer group OPEC could extend an output cut aimed at reining in a global supply overhang.
Stada Bid War Unfolds as Third Suitor Offers $3.84 Billion
Stada Arzneimittel AG is weighing offers as a bidding war for one of the last remaining generic-drug businesses of its size in Germany and Russia begins to unfold. The company said Thursday it received interest from a third firm that made a non-binding offer of 58 euros a share, or about 3.61 billion euros .
Samsung Heir Jay Y. Lee Is Arrested on Bribery Allegations
Samsung Group’s Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker. The Seoul Central District Court issued the warrant for Lee’s arrest early Friday.
Samsung Chief Lee Arrested as South Korean Corruption Probe Deepens
Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal rocking the highest levels of power in South Korea, dealing a fresh blow to the world’s biggest maker of smartphones and memory chips. The 48-year-old Lee, scion of the country’s richest family, was taken into custody at the Seoul Detention Centre after waiting there overnight for the decision.
Oil Firms as OPEC Floats Extended Output Cut
Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang. Brent crude futures were trading at $55.76 per barrel at 0311 GMT , up 11 cents from their last close.
Asia Stocks Ease After Run of Gains; Dollar, Oil Recover
Asian stock markets took a breather on Friday from their recent surge as investors booked profits, while the dollar inched up after Thursday’s slide and optimism over possible renewed supply cuts by OPEC lifted oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan pulled back 0.1 percent, on track to end the week up 1.3 percent, its fourth straight weekly gain.
Oil Slips on Inventory Jump
Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in U.S. crude inventories signaled ample supply, even as OPEC achieves record compliance with its supply-cut accord. U.S. inventories rose by a larger-than-expected 9.9 million barrels last week, the American Petroleum Institute trade group said on Tuesday, ahead of the Energy Information Administration’s official supply report.
Top Israeli VC Says Startup Nation Drives U.S. Economic Growth
Jon Medved, the Israeli venture capitalist who backed Shopping.com and built investment platform OurCrowd, says tightening technology ties with the Trump administration and allowing Israeli companies to continue to open branches in the U.S. will benefit the economies of both countries. Medved said he hoped Israeli Prime Minister Benjamin Netanyahu would put technology on the agenda during his scheduled meeting Wednesday with U.S. President Donald Trump in Washington.
India Said to Cut Bank Capital Infusion for This Fiscal Year
India may cut the amount of capital it plans to inject into state-controlled lenders this fiscal year by as much as 78 billion rupees because of slow loan growth, people with knowledge of the matter said. The government, which had promised to inject 250 billion rupees into the lenders in the year ending March 31, has decided to defer 21 billion rupees of the pledged amount into next financial year, the people said, asking not to be identified because the information isn’t public.
Oil Dips Over Doubts OPEC Agreed Cuts Will Last
Oil prices dipped on Wednesday over concerns that OPEC producers would not be able to maintain their high compliance so far with output cuts aimed at reining in a global fuel supply overhang. Brent crude was trading at $55.62 per barrel at 600 GMT, down 35 cents, or 0.63 percent, from its last close.
SoftBank to Buy Fortress Investment Group for $3.3 Billion
SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion in cash to operate alongside the Japanese company’s soon-to-be-established technology investment fund. Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium to the company’s Feb. 13 closing price, according to a statement Tuesday.
Apple Said to Weigh Chinese Supplier for Next-Gen iPhone Screens
Apple Inc. is in discussions with China’s BOE Technology Group Co. to supply next-generation displays for future iPhones, a key component that’s being provided by a Samsung Electronics Co.
Some final notes on MANs vs LANs
Although the IEEE had adopted a MAN standard, there were only relatively few examples of what might be called MANs available, and none of these conformed to the proposed IEEE standards. Those networks that did exist were largely based on CATV, and were often called Institutional Networks, or I-Nets.
Samsung’s Lee Again Faces Arrest Warrant in Graft Probe
South Korean prosecutors are again seeking to arrest Samsung Group’s Jay Y. Lee, citing new allegations of bribery and dealing another blow to a business empire mired in a nationwide corruption scandal. Investigators want Lee taken into custody, after a first attempt in January was rejected by a court due to a lack of evidence, said Hong Jung-seok, a spokesman for the special prosecutor’s team overseeing the probe.
UN Ambassador : It’s time to hold North Korea accountable…
In addition to all 15 council members condemning North Korea’s latest ballistic missile launch, UN ambassador Nikki Haley also delivered a decisive statement. “We call on all members of the Security Council to use every available resource to make it clear to the North Korean regime – and its enablers – that these launches are unacceptable,” her statement read.
Apple Shares Hit an All-Time Closing High
The Apple logo is seen on the facade of the new Apple Store in Paris, France, January 5, 2017. REUTERS/Charles Platiau (
Saudi Arabia Tells OPEC It Cut Oil Output by Most in 8 Years
Saudi Arabia told OPEC that it cut oil production by the most in more than eight years, going beyond its obligations under a deal to balance world markets. The kingdom reported that it reduced output by 717,600 barrels a day last month to 9.748 million a day, according to a monthly report from the Organization of Petroleum Exporting Countries.
There’s a new common thread in U.S. foreign policy — Guilfoyle
“I will aim to restore the Japan-U.S. alliance and Japan’s strong diplomatic capabilities. Japan can’t pursue a strong foreign policy without strengthening its alliance with the United States.”
Wanda Group Said to Consider Acquisition of Financial Firms
Billionaire Wang Jianlin’s Dalian Wanda Group Co. is examining potential purchases in the financial industry as the Chinese conglomerate seeks to bolster that business, people familiar with the matter said.
Oil Stable as OPEC’s Cuts Bite, Although Market Still Bloated
Oil prices were stable on Monday on signs that OPEC-led production cuts were reducing global overproduction, although bloated inventories and rising output elsewhere were weighing on markets. Brent crude futures were trading at $56.72 per barrel at 0752 GMT, up 2 cents from their previous close.
Berlin Connects Refugees With Locals for Market Training, Movie Screenings
The festival is living up to its reputation as the most socially conscious annual film event. Says one refugee: “Here is safety and you can live in peace.”
China Shares Rise For 4th Session, Scale 2-Month High
China’s main stock indexes rose for their fourth straight day of gains on Monday to a fresh two-month high, as the materials sector underpinned the market on the back of strong commodities. The blue-chip CSI300 index rose 0.7 percent, to 3,436.28 points, while the Shanghai Composite Index gained 0.6 percent to 3,216.84 points.
China, HK Shares Up on Commodities Rally
Chinese stocks opened the week on a firm footing on Monday and were track for the fourth straight day of gains, with sentiment boosted by strong commodities, while the Hong Kong market hit four-month highs thanks to capital inflows from the mainland. China’s blue-chip CSI300 index rose 0.7 percent, to 3,436.51 points at the end of the morning session, while the Shanghai Composite Index gained 0.6 percent, to 3,216.83 points.
Oil Holds Gains as IEA Sees OPEC-Cuts Compliance, Rising Demand
Oil held gains after the International Energy Agency said OPEC achieved a record 90 percent initial compliance with a production cut accord, while demand grew faster than expected. Futures were little changed in New York after rising 3.2 percent the previous three sessions.
South Korea Prosecutor Resummons Samsung Heir Jay Y. Lee
A special prosecutor is again questioning Samsung Group’s Jay Y. Lee over allegations including bribery and embezzlement, potentially dealing another blow to South Korea’s biggest business empire. Lee, the de facto head of the Samsung Group and vice chairman of Samsung Electronics Co., was called in for questioning Monday morning, along with two other executives including Samsung Electronics President Park Sang-jin.