Eleven food business owners from UK, including hotels and restaurants, have written an open letter to the government calling for safe labeling on food items. This comes along the heels of recent incidents in which two customers suffered allergic reactions after consuming products from Pret a Manger, one of them causing death. Pret is among the food businesses who signed the letter, which was initiated by a foundation established by the family of Natasha Ednan-Laperouse, a 15-year-old girl who suffered a fatal allergic reaction after eating a baguette filled with sesame see
Finastra, a leading loan provider, has recently announced the launch of its ESG Service, a SaaS-based cloud-native solution to enable sustainability-linked lending. The service will help in the integration of sustainability performance parameters in the ESG pricing for both Finastra Loan IQ and other back office systems. The working mechanism of sustainability-linked loans is different from conventional lending strategies, where multiple moving parts need to be monitored against the sustainability terms mentioned in the credit agreement. This in turn, requires the use of complex pricing structures which can tie up banks’ re
Computer Age Management Services Limited (CAMS), a leading registrar and transfer agent for mutual funds in India, has announced its intention to acquire a majority stake in Think Analytics India Private Limited. Popularly known as Think360AI, the artificial intelligence and data science firm is based in Mumbai. Via a secondary acquisition to be completed before 10th April 2023, CAMS is planning to takeover 55.42 percent of the total paid-up share capital of Think Analytics. Think360AI will become a subsidiary of CAMS post-acquisition, while its own subsidiaries
The partner company of Apple Inc., Foxconn has expressed interest in setting up a plant in India, with a planned investment of USD 700 million for the betterment of local production. This investment also indicates a step in the company’s shift away from production in China, as issues continue to arise between Washington and Beijing. The Taiwanese company is planning to build its new plant on a large site near the Bengaluru airport, where parts for Apple products such as iPhone will be manufactured. The factory may also assemble the handsets of the Apple smartphone. F
Recharge Industries, the well-known Australian renewable energy firm, has reportedly acquired the bankrupt U.K.-based battery maker, Britishvolt out of administration. In Northumberland, Britishvolt had intended to construct a £4 billion (US$4.78 billion) battery facility but pulled out last month due to financial constraints. Apparently, its decline was attributed to a lack of battery expertise, recognized technology, customers, and profit. In many aspects, Recharge Industries shares this
Singapore’s marine fuel sales reportedly reached a two-month high in January as more vessels docked at the world's biggest hub to take advantage of cheap pricing. The Maritime and Port Authority of Singapore (MPA) issued data early last week showing that sales increased to 4.38 million tons, up about 4% from last month. Apparently, a total of 3,447 vessels made special calls to the Republic to fill marine fuel, a rise of slightly more than 4% from December. The previous all-time high was achieved in October 2022.
Temu, a Chinese-owned e-commerce startup, reportedly made its Super Bowl debut recently. This was an unofficial coming-out celebration for the online shopping application, which has topped American download rankings since its launch in the country late in 2022. PDD, the owner for Temu, is well-known in China for breaking into regions that are underserved by industry leaders like Alibaba Group Holding, including lower-income rural communities. It further announced that it was awarding users with a total of USD10 million through online contests.
Twitter, the sensational social media platform now owned by American billionaire Elon Musk, has reportedly announced to offer free write-only API to bots who are giving good content. Last week, the company announced to discontinue free accessibility to its APIs from February 9. However, after receiving the developer’s feedback, the firm tends to change its decision. This move is just as unclear as some of the other ones made under Musk's leadership. There is no clarity on what ‘good material’ is or who would decide what is adequate content. But if Twi
Ryanair and EasyJet, two leading low-cost carriers based out of the UK, have reportedly urged employees of the freshly bankrupt British airline, Flybe, to apply for openings with them. For the uninitiated, Flybe declared bankruptcy on Saturday last week, causing over 277 workers to lose their jobs. Concerned Flybe staff reportedly called the British Airline Pilots' Association (Balpa) in the early hours of Saturday morning. The union's leader, Martin Chalk, insisted that there are positio