Tag Archives: giant

Chinese social media giant is worth more than Facebook

Tencent (TCEHY) shares closed more than 2% higher in Hong Kong on Tuesday, valuing the social media and gaming giant at around $522 billion, according to FactSet. Facebook (FB, Tech30) is currently worth a little over $519 billion. Best known for its mobile messenger WeChat, Tencent had been threatening to unseat its Silicon Valley rival after a blockbuster year that saw its share price… Read More »

Kraft Heinz approaches consumer goods giant Unilever about possible merger

US food giant Kraft Heinz has approached Unilever about a merger that would represent one of the biggest tie-ups in corporate history, but the Anglo-Dutch company declined a deal. “Kraft Heinz confirms that it has made a comprehensive proposal to Unilever about combining the two groups to create a leading consumer goods company with a mission of long-term… Read More »

Telecoms giant to buy stake in cab-hailing firm Careem

Saudi Arabia’s main phone company, STC, plans to buy a 10% stake in cab-hailing firm Careem. Based in Dubai, Careem is a rival to Uber and has developed a strong presence in the Middle East, North Africa and Pakistan. Such cab-booking firms are particularly popular with women in Saudi Arabia, who are not allowed to drive. In a… Read More »

Palm oil giant Olam accused over sourcing

Palm oil giant Olam has been accused of using suppliers that may use unsustainable practices in parts of Southeast Asia. The claims against the agricultural commodities trader were made in a report by Mighty, a US-based environmental lobby group. Mighty also accuses Olam and its main stakeholder, Singapore state-owned investment company Temasek, of turning a blind eye to… Read More »