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...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...The group is also building a plant in Mexico that is expected to come online in 2026....
...The owners of London’s O2 Arena and Hammersmith Apollo have each entered the race to buy See Tickets, after French media group Vivendi kicked off a sales process for one of the UK’s biggest ticketing merchants...
...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...But Magnati believes the data it collects on merchants will make banks more willing to lend to them....
...That segment is dominated by UK-listed Gym Group and private equity owned PureGym....
...Thirteen years ago, Square disrupted payments processing with a simple dongle that merchants could attach to smartphones and tablets to accept card payments....
...It recently reported a 4 per cent growth in net asset value (NAV) to 684p last year and made two new investments — the biggest being the £90mn commitment towards the buyout of the Steer Automotive group...
...Growth has been stronger in its Braintree unit, which provides unbranded payments technology to merchants. But this is far less lucrative than the branded business....
...TikTok has partnered with US cloud software group Oracle to build a standalone unit to wall off American user data....
...The fintech assault has so far succeeded at the start of that chain, helping merchants take payments more cheaply and easily....
...Falling market share and sales figures reported this month indicate the two groups face rising competition and the whiplash of US-China geopolitical tensions....
...Those considering a punt on Cipriani’s new €500mn club venture will hope the high-end Italian hospitality group performs better than New York-listed rival Soho House....
...Kirkland & Ellis restructuring lawyer James Sprayregen is joining the investment and merchant bank Hilco Global as a vice-chair. Hilco had recently added the Lazard restructuring head David Kurtz....
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...But a buyer would be foolish to pay a premium price for the group, given regulatory and integration challenges....
...US group Lithia, which already has 50 UK sites, will buy the showrooms, Pendragon said on Monday....
...The ecommerce business accounts for 38 per cent of group gross revenue. GoTo’s $599mn loss in the first nine months this year was a big improvement on 2022....
...Renesas, a key supplier of chips to the automotive industry, has been on a deal spree as it looks to diversify, which included adding the Apple supplier Dialog to its stable....
...“Those global corporates already proved that even the biggest automotive [manufacturers] today have to purchase China’s solutions in order to save time as well as get a lot more competitive products,” Li...
...TikTok will take a controlling 75.01 per cent stake in Tokopedia, an ecommerce unit of GoTo, the Jakarta-listed technology group told investors on Monday in a letter seen by the Financial Times....
...A number of EV makers have recently scaled back expansion plans, including Ford and General Motors, while rental group Hertz is selling one-third of its electric fleet to buy more petrol vehicles....
...A record 313,000 electric vehicles were sold in the US in the third quarter, according to data group Cox Automotive....
...China started commercial driverless development in 2013, about five years after groups in the US....
...It has also been in talks with Toyota and big automotive parts manufacturers such as Denso and Aishin, which are part of the Toyota Group, to explore areas of collaboration....
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