Author: Tech Support

By July, Chinese banks and trust companies had ~$230B in outstanding loans to users who borrowed via Alipay, a factor in new regulatory scrutiny of Ant Group (Wall Street Journal)

Wall Street Journal: By July, Chinese banks and trust companies had ~$230B in outstanding loans to users who borrowed via Alipay, a factor in new regulatory scrutiny of Ant Group  —  Partnering with the fintech giant has higher risks for smaller lenders, which are already on shaky ground By July, Chinese banks and trust companies

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NortonLifeLock says it has acquired Germany-based antivirus vendor Avira for $360M in cash, eight months after Avira was acquired for $180M by a PE firm (Ingrid Lunden/TechCrunch)

Ingrid Lunden / TechCrunch: NortonLifeLock says it has acquired Germany-based antivirus vendor Avira for $360M in cash, eight months after Avira was acquired for $180M by a PE firm  —  Only eight months after getting acquired for $180 million, Avira is changing hands again, for double the value: NortonLifeLock today announced … NortonLifeLock says it

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LG says it has reorganized its mobile phone division, which has reported a loss for 22 consecutive quarters, to outsource low- and mid-range smartphones (Joyce Lee/Reuters)

Joyce Lee / Reuters: LG says it has reorganized its mobile phone division, which has reported a loss for 22 consecutive quarters, to outsource low- and mid-range smartphones  —  SEOUL (Reuters) – LG Electronics said on Monday it had reorganised its mobile phone division to increase outsourcing of its low to mid-end smartphones … LG

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Norway Leads The Charge To Phase Out Internal Combustion; China and the UK To Follow

Climate change promises to cause untold damage across the world if greenhouse gas emissions continue at current levels for much longer. Despite the wealth of evidence indicating impending doom, governments have done what humans do best, and procrastinated on solving the issue. However, legislatures around the world are beginning to snap into action. With transportation

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London-based online payments company Paysafe says it will go public via SPAC at a ~$9B valuation; Blackstone and CVC acquired Paysafe for ~$4B in 2017 (Bloomberg)

Bloomberg: London-based online payments company Paysafe says it will go public via SPAC at a ~$9B valuation; Blackstone and CVC acquired Paysafe for ~$4B in 2017  —  A blank-check firm led by billionaire Bill Foley is nearing a deal to merge with Paysafe Group Ltd., a transaction that would take public … London-based online payments

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Filing: e-commerce marketplace Wish aims to raise $1.1B in its IPO at a $14.1B valuation, pricing shares at $22-$24; Wish was last valued at $11.2B in Aug. 2019 (Annie Palmer/CNBC)

Annie Palmer / CNBC: Filing: e-commerce marketplace Wish aims to raise $1.1B in its IPO at a $14.1B valuation, pricing shares at $22-$24; Wish was last valued at $11.2B in Aug. 2019  —  – E-commerce marketplace Wish is aiming to raise roughly $1.1 billion in its upcoming initial public offering, giving it a valuation of

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Wonder, which enables smaller, more organic video-based interactions within a larger virtual conference, raises $11M led by EQT Ventures (Paul Sawers/VentureBeat)

Paul Sawers / VentureBeat: Wonder, which enables smaller, more organic video-based interactions within a larger virtual conference, raises $11M led by EQT Ventures  —  A plethora of virtual event platforms have gained significant traction in a year marked by social distancing.  And Germany’s Wonder is another … Wonder, which enables smaller, more organic video-based interactions

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