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Exclusive: Geely’s Premium Electric Car Brand Zeekr Seeks Over $1 Billion In U.S. IPO – Sources


HONG KONG, Dec 12 (Reuters) – Zeekr, Chinese automaker Geely’s upmarket electric car brand, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters.

In what would be the first major Chinese float in the United States in more than a year and a half, Zeekr is seeking a valuation of more than $10 billion, two of the sources said.

Full coverage: REUTERS

Oil Edges Up On U.S. Pipeline Restart Uncertainty, Russian Supplies

SINGAPORE, Dec 12 (Reuters) – Oil prices rose as much as more than 1% on Monday as a key pipeline supplying the United States remained shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports.

Brent crude futures were up 41 cents, or 0.5%, at $76.51 a barrel by 0730 GMT. U.S. West Texas Intermediate crude was at $71.55 a barrel, up 53 cents, or 0.8%.

The price gains on Monday for Brent and WTI came after both grades fell last week to their lowest since December 2021 amid concerns that a possible global recession will impact oil demand.

Full coverage: REUTERS

Microsoft To Buy 4% Stake In London Stock Exchange

Dec 12 (Reuters) – Microsoft (MSFT.O) is to take a 4% equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the exchange operator’s data platform into the cloud, the British company said on Monday.

As part of the deal, LSEG has made a contractual commitment for minimum cloud-related spend with Microsoft of $2.8 billion over the term of the partnership.

Microsoft said the basis of the partnership will be the digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud.

Full coverage: REUTERS

Exclusive: Toyota To Outline 3-Year EV Plan Changes To Suppliers

Dec 12 (Reuters) – Toyota Motor Corp (7203.T) is expected to outline adjustments to its electric vehicle (EV) strategy to key suppliers early next year, as it races to narrow the gap on price and performance with industry leaders Tesla and BYD, two people with knowledge of the work said.

The leading Japanese automaker is expected to detail the EV plan changes through early 2026, communicating the adjustments to major suppliers, the people said on condition of anonymity as the information is confidential.

Full coverage: REUTERS

Morning Bid: Hunkering Down

A look at the day ahead in European and global markets from Anshuman Daga.

Just as China faces a testing time over its dramatic COVID-19 policy pivot, financial markets are on full alert ahead of interest rate decisions coming out this week from the world’s top central banks.

Initial market enthusiasm over China’s easing of its stringent “zero-COVID” measures has now switched to worries over a wave of infections likely disrupting the economy.

Full coverage: REUTERS

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