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Many places try to replicate aspects of Silicon Valley. Favorable immigration rules and cheaper labor costs have made the Canadian city a strong contender. Some of these advantages may not endure. But success in luring giants like Meta Platforms means that may not matter for now. → Read More
Private sales and the use of shell companies make for anonymity. Russians are not top of the art-world heap, but recently imposed financial constraints and the rise of digital assets could change that. U.S. oversight has not kept up. Dealers and watchdogs alike need to wise up. → Read More
The country that claims the second-largest Ukrainian diaspora has already done more than its southern neighbor to help those fleeing war. Unlike trade, immigration is one area where Ottawa has clout. Canada could prove an example to countries far removed from the crisis. → Read More
Trucker protests paralyzed a key border route, exposing the country’s reliance on its largest trading partner. But Canada also suffers from internal barriers between its provinces and territories. Removing those could boost the economy, if local protectionism can be overcome. → Read More
The Canadian e-commerce firm’s shares fell after it said it’s shifting towards a more Amazon-like model of operating warehouses. Having surfed the online shopping wave, Shopify risks losing investors who have chased the asset-light tech craze too. → Read More
Shopify already fell off its perch as Canada’s most valuable listed company, but the e-commerce giant’s $105 bln valuation is still in the stratosphere, at over 100 times forecast EBITDA. With tech investors jittery, even a minor slipup could lead to a sizeable correction. → Read More
The yoga-pants maker is facing a fresh legal battle from Nike after already being hit by Peloton. Such lawsuits are common, but the athletic business is highly competitive, easily replicable and hard to differentiate. Success means rivals take notice and play defense. → Read More
As a second pandemic year unfolded, subscribers clicked most on views about deals, including AT&T’s spinoff of DirecTV. Refinitiv readers loved Wall Street, from Morgan Stanley to Coinbase's listing. Our eclectic followers also tracked airlines, meme stocks and Chinese markets. → Read More
An Oatly-like valuation for the Greek-yogurt maker could make boss Hamdi Ulukaya’s stake worth $8 bln. Valued like Danone, he would be worth about a quarter of that. A valuation closer to the latter is reasonable, but Ulukaya can’t be blamed for reaching for a yogurt substitute. → Read More
The Naomi Osaka-backed upstart touches all the food fads: online ordering and appeal to the health-and-time conscious. But it is asking for a premium valuation compared to established fast food companies like Chipotle as a result. Osaka can’t compensate for salads’ lack of spice. → Read More
Web giant Kakao’s digital bank and payments affiliates are going public while rival Toss raised funds at a $7.4 bln valuation. Up for grabs is the country’s $1 trln lending market. The digital disruptors’ early gains in retail loans spell trouble ahead for incumbents. → Read More
A deal to shore up ties with a Jakarta conglomerate recalls the country’s importance for the super-app’s growth ahead of its $40 bln New York debut, and as top local rivals merge. Grab’s Southeast Asian footprint has benefits, but Indonesia carries outsize strategic value. → Read More
Online fashion site Shein cranks out ultra-cheap designs at lightning speed. It discloses next to nothing about its operations and tried to scrub its Chinese origins off the internet. Its opacity is strategic, but competitors had best study its model. → Read More
China Tourism’s Hong Kong secondary listing plan spotlights the $90 bln company’s unique strengths. State ties help, as do favourable policies in tropical getaway Hainan. Hefty proceeds will give it a war chest to expand overseas and challenge rivals like Switzerland’s Dufry. → Read More
Bukalapak’s and Zomato’s respective debuts in Indonesia and India will help startups decide whether to list at home. The Fragrant Harbour has proven it has what it takes to attract hot tech names. Mumbai’s stellar secondary market makes it better placed to replicate that success. → Read More
The Tencent-backed gaming-to-shopping group, at $147 bln, trades at a rich sum of its parts. Investors believe it can ramp up commission-based fintech services in underbanked Southeast Asia. Its trove of licences minimise risk. Boss Forrest Li has built an enviable position. → Read More
The enlarged Indonesian tech group will make gains in data analytics, helping it keep pace with $130 bln Sea. Getting goods closer to customers will trim order costs and boost on-demand services. It hints at complexities in the pair’s reliance on third-party logistics too. → Read More
Quarterly handset sales rocketed up 70% to $8 bln, underscoring how the Chinese group has exploited rival Huawei’s woes. Xiaomi's successful overseas expansion and move to more premium models also stand out in the low-margin sector. Sustaining momentum will be the next challenge. → Read More
Tencent-backed Ximalaya, last valued at $3.7 bln, is going public. It boasts a diversified model of subscriptions, ads and live-streaming sales. But growth is slowing and rival Lizhi, which floated last year, is already underwater. A premium price tag could leave ears ringing. → Read More
Content giants have lapped up Japanese storytelling, spurring on Korean “webtoon” makers. Kakao Entertainment’s boss reckons the unit might be worth $18 bln in an IPO. Compatriot Naver is eyeing a similar course. The fast-growing, quirky genre could draw up creative valuations. → Read More