Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025. Henry Romero | Reuters Hang Seng Bank shares jumped 29.5% Thursday after parent HSBC announced plans to take it private, valuing the lender at more than 290 billion Hong Kong dollars (over $37 billion). HSBC, Europe’s largest lender,…
Kampala, Uganda — Africa’s reinsurance market has for decades been dominated by global giants such as Swiss Re, Munich Re, and the syndicates of Lloyd’s. While these firms bring deep expertise and capital, their dominance has left local insurers struggling to grow. Africa, which accounts for just 1.5% of global premiums, has the highest number…
Paramount Skydance is working with an investment bank as it prepares an offer for Warner Bros. Discovery, according to people familiar with the matter. Warner Bros. Discovery had yet to receive an offer as of Thursday, according to people familiar with the matter, who spoke on the condition of anonymity to discuss nonpublic dealings. A…
Elon Musk. David Swanson/Reuters Elon Musk tried to enlist rival Mark Zuckerberg for the US$97.4-billion bid that his consortium made for OpenAI earlier this year, but the CEO of Meta Platforms did not come on board, OpenAI said in a court filing on Thursday. OpenAI, the owner of ChatGPT, said Musk had communicated with Zuckerberg…
Perplexity AI has made a US$34.5 billion all-cash offer to acquire Google’s Chrome browser, a move that would provide the AI startup with access to billions of users and a significant advantage in the AI search race. The offer, which is well above Perplexity’s own valuation, comes at a time when regulatory pressure threatens Google’s…
Mustek’s head office in Midrand, Johannesburg Printing and packaging firm Novus Holdings’ offer to buy out other shareholders in technology group Mustek has hit another hurdle. The two companies said in a joint announcement issued via the JSE on Friday that the Takeover Regulation Panel (TRP) is holding off from issuing a certificate of compliance,…
The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Emanuele Cremaschi | Getty Images News | Getty Images UniCredit on Wednesday posted a sharp second-quarter profit hike and lifted its full-year guidance, a day after withdrawing its takeover bid for Italian peer Banco BPM amid opposition from Rome….
Nairobi — The Court of Appeal has dismissed an appeal by Tata Africa Holdings (Kenya) Limited seeking to overturn a High Court decision that set aside an ex parte judgment worth over Sh17.9 million and $32,960 against ACE Africa Limited. The case stemmed from a commercial dispute in which Tata Africa sued ACE Africa for…
