Norwegian Billionaire Pushes Salmon Production Into New Offshore Waters {Norwegian Billionaire Pushes Salmon Production Into New Offshore Waters} – English

Norwegian Billionaire Pushes Salmon Production Into New Offshore Waters {Norwegian Billionaire Pushes Salmon Production Into New Offshore Waters} – English

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Aker will contribute as much as 1.65 billion kroner ($190 million) in cash in three tranches to SalMar Aker Ocean, which will comprise SalMar’s interests in its semi-offshore and offshore farming operations, the companies said in a statement on Thursday.

 

SalMar will eventually own 66.6% of the joint company, while Aker will own 33.4% through Aker Capital AS.

 

Read the full story on Bloomberg here.

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Britain Bans Binance’s UK Ops In Latest Cryptocurrency Crackdown {Britain Bans Binance’s UK Ops In Latest Cryptocurrency Crackdown} – English

Britain Bans Binance’s UK Ops In Latest Cryptocurrency Crackdown {Britain Bans Binance’s UK Ops In Latest Cryptocurrency Crackdown} – English

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In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities… with immediate effect”.

 

It also issued a warning to consumers about Binance Markets and the wider Binance group.

 

Read the full story on Reuters here.

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Bosch Picks Hartung As New CEO To Tackle Industry Transformation {Bosch Picks Hartung As New CEO To Tackle Industry Transformation} – English

Bosch Picks Hartung As New CEO To Tackle Industry Transformation {Bosch Picks Hartung As New CEO To Tackle Industry Transformation} – English

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Denner, 64, will become a scientific adviser focused on the company’s research into quantum technology, Bosch said Thursday in an emailed statement. The CEO changeover and additional management appointments take effect on January 1, 2022.

 

Denner navigated the world’s largest maker of vehicle components through the fallout of Volkswagen AG’s diesel-emissions scandal and the dramatic industry slump triggered by the Covid-19 pandemic. He transformed Bosch’s sprawling operations to focus on technology for the so-called Internet of things that connects products from car parts to refrigerators and power tools to the web.

 

Read the full story on Gulf Business here.

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China Tech Listings Drop Sharply As Beijing Cracks Down On Sector {China Tech Listings Drop Sharply As Beijing Cracks Down On Sector} – English

China Tech Listings Drop Sharply As Beijing Cracks Down On Sector {China Tech Listings Drop Sharply As Beijing Cracks Down On Sector} – English

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Since the start of April, initial public offerings by China’s tech groups on exchanges worldwide have raised just $6bn, down almost two-thirds from the first quarter, according to data from Dealogic.

 

The share of tech listings as a proportion of all Chinese IPOs also fell to the lowest level in two years, at just 21 per cent of the more than $28bn raised during the period.

 

The decline comes as Chinese tech groups have faced pressure from Beijing, which in recent months has stepped up regulatory scrutiny of some of the biggest names in the sector.

 

Read the full story on the Financial Times here.

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World’s Largest Superyacht To Offer Apartments For Sale {World’s Largest Superyacht To Offer Apartments For Sale} – English

World’s Largest Superyacht To Offer Apartments For Sale {World’s Largest Superyacht To Offer Apartments For Sale} – English

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The 220-metre vessel is due to launch in 2024 and will provide buyers with “the intimacy of a private yacht alongside the chance to network in a vibrant community of like-minded owners”, its investors said as they announced the €500m project on Monday.

 

Somnio will be more than 40 metres longer than the current record holder Azzam, owned by the Abu Dhabi royal family. The project has been spearheaded by Carl Le Souef, a US millionaire who founded Private Formula International, a skincare company, and now runs Somnio Global, a sustainable technology group.

 

Read the full story on the Financial Times here.

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Crypto Captures The Mideast Market {Crypto Captures The Mideast Market} – English

Crypto Captures The Mideast Market {Crypto Captures The Mideast Market} – English

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The Bitcoin Fund, that invests in long-term holdings of the cryptocurrency and was the first of its type to be listed on a major exchange, expanded to Nasdaq Dubai last week to ensure trading to all hours around the globe.

 

In Israel, where a recent central bank study concluded a digital currency could have a positive impact on the economy, Ethereum was picked for a trial of the payment system.

 

There was a word of caution, however. Qatar’s Chief Investment Authority Chief Executive Officer Mansoor Bin Ebrahim Al Mahmoud told Bloomberg’s Qatar Economic Forum that cryptocurrencies “need a bit of maturity before we make our view about investing.”

 

Read the full story on Bloomberg here.

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China Adds A New Vaccine Billionaire {China Adds A New Vaccine Billionaire} – English

China Adds A New Vaccine Billionaire {China Adds A New Vaccine Billionaire} – English

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Shares in vaccine maker Changchun BCHT Biotechnology rose by 226% from their IPO price on debut on the STAR board at the Shanghai Stock Exchange to close at 118.5 yuan. That left President Kong Wei’s 25% stake worth 12 billion, or nearly $1.9 billion.

 

Founded in 2004, the company is a spinoff from the Changchun High & New Technology Industry (Group), which holds 41% of its shares.

 

Read the full story on Forbes here.

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EV Startups Lose Over $40 Billion After Taking SPAC Route Public {EV Startups Lose Over $40 Billion After Taking SPAC Route Public} – English

EV Startups Lose Over $40 Billion After Taking SPAC Route Public {EV Startups Lose Over $40 Billion After Taking SPAC Route Public} – English

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Three of the companies plumbed new lows this week as short-seller attacks, management turmoil and execution issues lead investors to reconsider their prospects. They’ve lost more than $40 billion of market capitalization combined from their respective peaks.

 

Read the full story on Bloomberg here.

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Pent-Up Luxury Demand Keeps LVMH On Top {Pent-Up Luxury Demand Keeps LVMH On Top} – English

Pent-Up Luxury Demand Keeps LVMH On Top {Pent-Up Luxury Demand Keeps LVMH On Top} – English

The post Pent-Up Luxury Demand Keeps LVMH On Top appeared first on Wealth-X.


 

LVMH Moët Hennessy Louis Vuitton—the 70-brand empire including Louis Vuitton, Christian Dior and Givenchy—just hit record sales this quarter. According to the luxury giant’s most recent earnings report, its Fashion & Leather Goods division revenue surpassed $8 billion.

 

Read the full story on Forbes here.

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Russia To Send Film Crew, Japanese Billionaire To Space {Russia To Send Film Crew, Japanese Billionaire To Space} – English

Russia To Send Film Crew, Japanese Billionaire To Space {Russia To Send Film Crew, Japanese Billionaire To Space} – English

The post Russia To Send Film Crew, Japanese Billionaire To Space appeared first on Wealth-X.


 

Moscow is seeking to boost its embattled space programme, which has stagnated since the collapse of the Soviet Union and been overtaken by US tech billionaire Elon Musk’s company SpaceX.

 

Read the full story on the International Business Times here.

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