Why the outcomes of the Glasgow climate talks are key for Singapore
SINGAPORE - The annual United Nations climate change conferences may seem far removed from the reality of climate impacts that have upended lives and livelihoods. This year's conference, for instance, made headlines for the use of language - should countries "phase out" or "phase down" the use of coal? - and for the huge protests happening on the sidelines of the conference. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.
Airbus in talks on sales of A350 freighter
TOULOUSE (REUTERS) - Airbus is in talks with several potential customers for a new A350 freighter while seeing signs of demand for smaller A320 passenger jets in Europe, its sales chief said on Tuesday. With e-commerce booming, Airbus formally began marketing a proposed freight variant of its A350 passenger jet in July, taking aim at Boeing's tight grip on the global cargo market. "We are in a number of very encouraging discussions," chief commercial officer Christian Scherer told reporters in Toulouse, where the European planemaker is based. "It is available for sale and is selling," he added. Boeing has for years dominated the market for purpose-built freighters, even as its European rival grabbed the crown as the world's largest maker of passenger jets. Boeing is preparing to launch its own new freighter, a cargo version of its upcoming 777X jetliner, industry sources say. Freighters can sell for higher prices than passenger planes and help to prop up depressed production for wide-body models at a time when long-haul travel is weak, industry experts say. While demand for wide-body passenger jets remains stagnant, demand for smaller planes used in regional and domestic markets is...
Amazon in talks to buy film studio MGM, says report
NEW YORK (BLOOMBERG) - Amazon.com is in discussions to acquire the nearly century-old Metro-Goldwyn-Mayer movie studio in what would be its biggest push into entertainment yet, according to news reports. MGM, the storied Hollywood company behind the James Bond series, would help bolster Amazon’s Prime streaming service, The Information and Variety said in separate reports. Amazon is weeks into negotiations to buy the studio for about US$9 billion (S$12 billion), according to Variety. MGM and Amazon declined to comment on the report. MGM has been seen as a takeover target for years, but was never able to close a sale. The company made a fresh push last year, when it reportedly hired advisers to solicit offers. In seeking a deal, MGM aims to capitalise on the proliferation of streaming services, which has increased demand for large backlogs of content. It has also discussed other scenarios with tech giants. MGM, whose library includes the Rocky films and Silence Of The Lambs, also held talks with Apple and Netflix about taking its new James Bond film directly to streaming. But the company said last year that it is committed to a theatrical release for the film, which is currently sla...
BuzzFeed in talks to go public via Spac merger
NEW YORK (BLOOMBERG) - BuzzFeed, the digital-media outlet founded in 2006, is in talks to go public through a merger with 890 5th Avenue Partners, a special purpose acquisition company (Spac), according to people with knowledge of the matter. Once public, the company may use its currency to target future acquisitions, said one of the people, who requested anonymity because the talks are private. A transaction value couldn't immediately be learned. As with any deal that hasn't been finalized, it's possible terms change or talks fall apart. 890 5th Avenue - named after the fictional Avengers mansion - is led by executive chairman Adam Rothstein and CEO Emiliano Calemzuk. The blank-cheque firm raised US$287.5 million (S$386.5 million) in a January initial public offering and has said it's focused on technology, media and telecommunications. Representatives of BuzzFeed and 890 5th Avenue didn't immediately respond to requests for comment. The deal talks follow a tumultuous year for BuzzFeed, which laid off employees during the pandemic and lost revenue from advertising and live events. The company's balance sheet had improved by last November, when it agreed to buy the HuffPost online ...