Dealmaking and capital-raising set the pace in business news, with major transactions in utilities and food delivery and a richly valued Chinese AI company lining up a possible Hong Kong listing. At the same time, fresh economic data point to uneven global conditions, from a wide...
Dealmaking and capital-raising set the pace in business news, with major transactions in utilities and food delivery and a richly valued Chinese AI company lining up a possible Hong Kong listing. At the same time, fresh economic data point to uneven global conditions, from a wider U.S. trade gap to a stronger growth outlook for India.
Moonshot AI completes its final private fundraising at an estimated valuation of about $50 billion and is targeting a Hong Kong initial public offering in early 2027. The plan would position one of China’s most prominent AI startups for a major public-market debut as investors keep backing large-scale artificial intelligence companies.
Emera agrees to buy Canadian Utilities in an all-stock deal valued at about C$14.3 billion, combining major electricity and natural gas assets into one of Canada’s largest utilities. The transaction creates a broader energy platform spanning multiple regions and customer bases, underscoring continued consolidation in regulated infrastructure businesses.
Uber agrees to acquire workplace catering platform ezCater for $2.3 billion in cash, expanding beyond restaurant delivery into corporate meal programs. The deal adds ezCater’s order volume and restaurant network to Uber’s food business and gives the company a stronger foothold in catering for offices and other business clients.
The U.S. trade deficit widens to $105.6 billion in August as imports of goods rise despite existing tariffs. The increase, about 13.7% from the previous month, highlights persistent demand for imported products and adds to the economic picture policymakers are weighing as trade policy remains in focus.
The World Bank raises its forecast for India’s fiscal 2027 GDP growth to 7.1% from 6.6%, citing support from consumption, investment and exports. The upgrade reinforces India’s position as one of the faster-growing major economies and signals confidence that domestic demand and external trade will continue to underpin expansion.
Top Business stories
- Jim Bakker, televangelist disgraced by fraud and sex scandals, dies at 86 (7 sources)
- Uber to acquire ezCater for $2.3 billion to expand workplace catering (7 sources)
- U.S. trade deficit widens in August as imports rise despite tariffs (7 sources)
- Moonshot AI targets early-2027 Hong Kong IPO after reaching $50 billion valuation (6 sources)
- Emera agrees to acquire Canadian Utilities in C$14.3B all-stock deal, forming larger utility (5 sources)
- Cornell students protest over alleged gang rape and the school’s response (5 sources)
- World Bank lifts India’s FY27 GDP growth forecast to 7.1% (5 sources)
- Australian leaders and Jewish groups mark third anniversary of Hamas’ Oct 7 attack (5 sources)
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