Grab is going public in $40 billion SPAC deal, the biggest on record

Southeast Asia’s ride-hailing giant Grab is setting the stage for an eye-popping Wall Street debut. The Singapore-based startup announced Tuesday that it would merge with a special purpose acquisition company (SPAC) backed by Altimeter Capital in a deal that would pave the way for a New York listing and value Grab at about $39.6 billion.…MORE

Bitcoin soars to new record above $62,700

Bitcoin has rocketed to a new record above $62,700 as investors gear up for this week’s eagerly awaited direct listing of cryptocurrency exchange Coinbase Global. Bitcoin has more than doubled in price this year, and it represents just over half of the overall cryptocurrency market’s value of nearly $2.1 trillion. That’s only slightly less than…MORE

Trade is giving China’s economic recovery a boost

China’s economic recovery is continuing to gather steam. Imports surged more than 38% last month in US dollar terms compared to a year earlier, according to customs data released Tuesday. It’s a sign that demand within China is picking up as the country moves past the worst of the economic damage wrought by the coronavirus…MORE

Tucker Carlson sneers at critics as he doubles down on ‘replacement theory’ remarks

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Typically, when Tucker Carlson provokes outrage, it is a good bet that he will address the controversy by doubling down on his initial remarks. But his apparent endorsement of the racist “great replacement” theory crossed…MORE

Alessandra Galloni to lead Reuters News

One of the world’s oldest and most prestigious newsrooms will be led by a female editor for the first time. Alessandra Galloni will be the next editor of Reuters News, the company announced on Monday. Galloni will succeed Stephen Adler, who said in January that he planned to step down in April. Reuters conducted what…MORE

Fox has no problem with Tucker Carlson’s ‘replacement theory’ remarks, says Lachlan Murdoch

Fox Corporation chief executive Lachlan Murdoch dismissed the Anti-Defamation League’s demand that the company fire host Tucker Carlson, telling the organization in a letter that his company saw no problem with comments Carlson made about the racist “great replacement” theory. “Fox Corporation shares your values and abhors anti-semitism, white supremacy and racism of any kind,”…MORE

Nike wants to resell your (lightly) worn shoes in some stores

Nike is now reselling returned sneakers at a discount in select stores in an effort to reduce waste. Nike on Monday announced an initiative where it accepts returned shoes that are gently worn or have a manufacturing flaw and cleans and sanitizes them. The refurbished shoes are then resold in select stores at a reduced…MORE

IBM spinoff joins a long list of questionable corporate names

There’s a new member in the pantheon of the worst-named companies in history. Introducing “Kyndryl.” That is the actual name of the IT services unit that IBM is spinning off from its core business. Soon, the 90,000 employees affected by the change will no longer say they work for “IBM” — perhaps one of the…MORE

Cyberattacks are the number-one threat to the global financial system, Fed chair says

Cyberattacks are now the foremost risk to the global financial system, even more so than the lending and liquidity risks that led to the 2008 financial crisis, according to Federal Reserve Chairman Jerome Powell. The assessment by one of the world’s leading banking officials underscores how the threat of hacking has become a top concern…MORE

Bitcoin is back above $60,000 as Coinbase gets ready for public debut

The bitcoin bull market rages on: The price of one bitcoin is back above $60,000, and not far from its all-time high, as investors gear up for this week’s eagerly awaited direct listing of cryptocurrency exchange Coinbase Global. Bitcoin has more than doubled this year, and it represents just over half of the overall cryptocurrency…MORE

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