The European Union is ready to challenge Microsoft’s proposed $69 billion deal to buy video game producer Activision Blizzard, potentially making it even more difficult for the tech giant to complete the…
Swedish Mining Company Finds Europe’s Largest Rare Earth Deposit
A Swedish mining company has discovered Europe’s largest deposit of rare earths — minerals used to make products like smartphones and electric vehicles. In 2021, 98% of rare earths used in the…
TikTok Reveals Staff in China Get Access to European Users’ Data
The Chinese social video app TikTok has confirmed that some of its employees in China are able to access the data of accounts in the European Union. The company will update its…
Amazon to Invest €1bn to Electrify European Fleet
Amazon will spend €1 billion over the next five years to electrify its delivery fleet in Europe, Reuters has reported. Currently the e-commerce giant has around 3,000 zero-emission last-mile delivery vans in…
Porsche Shares Rise After IPO
Porsche made its stock market debut on Thursday, in one of Europe’s biggest ever public offerings. The IPO, which values the automaker at around 75 billion euros, appears to have been a…
Cinema Giant Cineworld Files for Bankruptcy Protection
The second largest cinema chain in the world, the U.K.’s Cineworld, has filed for bankruptcy protection in the United States. The group runs 751 movie theaters in the world, including more than…
Porsche to Go Ahead with IPO
The iconic automaker Porsche is to go public in the next few weeks, despite turbulent economic conditions putting off other major deals. Volkswagen first contemplated spinning off Porsche in February, just before…
Facebook Announces Plans to Hire 10,000 People to Help Build Metaverse
Facebook CEO Mark Zuckerberg’s dream of building a metaverse — an all-encompassing online world— gathered momentum this week when the company announced its intention to hire 10,000 workers in the European Union…
Climate Tech Funds Emerge at Record Pace, but Is It Too Late?
Global investors have already closed more climate-technology related funds in 2021 than the previous five years combined, according to PitchBook data. But the latest scientific report from the U.N. has raised fears…
Klarna Set for New Funding Round at $40 billion Valuation
Swedish fintech startup Klarna is reportedly close to securing a new round of funding that would value the company at more than $40 billion. Klarna offers a buy-now-pay-later service to retailers and…