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Tag: talks

Early Spotify backer TCV in talks with $7bn Revolut

Early Spotify backer TCV in talks with $7bn Revolut

Business
One of the early-stage backers of Spotify, Airbnb and Netflix is in talks to invest hundreds of millions of dollars in Revolut, the British-based digital payments and banking group.Sky News has learnt that Technology Crossover Ventures, or TCV, is proposing to commit a substantial proportion of a $ 500m (£385m) equity-raising being assembled by Revolut. The company, which is also seeking to raise $ 1bn of new debt, wants to secure the new funding at a valuation of between $ 7bn (£5.4bn) and $ 8bn (£6.2bn), according to insiders. Image: TCV was an early backer of music streaming service Spotify If it manages to do so, it would make Revolut Europe's most valuable fintech business.Sources said this weekend that the talks were ongoing and
Disappointment as marathon climate talks end with slim deal

Disappointment as marathon climate talks end with slim deal

Technology
MADRID -- Marathon U.N. climate talks ended Sunday with a slim compromise that sparked widespread disappointment, after major polluters resisted calls for ramping up efforts to keep global warming at bay and negotiators postponed debate about rules for international carbon markets for another year. Organizers kept delegates from almost 200 nations in Madrid far beyond Friday's scheduled close of the two-week talks. In the end, negotiators endorsed a general call for greater efforts to tackle climate change and several measures to help poor countries respond and adapt to its impacts. U.N. Secretary-General António Guterres said he was “disappointed” by the meeting's outcome. “The international community lost an important opportunity to show increased ambition on mitigation, adaptation and
COP25: Longest climate talks end with compromise deal

COP25: Longest climate talks end with compromise deal

World
The longest United Nations climate talks on record have finally ended in Madrid with a compromise deal.Exhausted delegates reached agreement on the key question of increasing the global response to curbing carbon.All countries will need to put new climate pledges on the table by the time of the next major conference in Glasgow next year. Divisions over other questions - including carbon markets - were delayed until the next gathering. What was agreed?After two extra days and nights of negotiations, delegates finally agreed a deal that will see new, improved carbon cutting plans on the table by the time of the Glasgow conference next year.All parties will need to address the gap between what the science says is necessary to avoid ...
Climate change: Call for ‘flexibility’ to reach consensus at talks

Climate change: Call for ‘flexibility’ to reach consensus at talks

Science
The Chilean official leading UN climate talks in Madrid has called on delegates to show flexibility, as they struggle to reach agreement on crucial measures needed to tackle climate change.The negotiations, which were scheduled to end on Friday, continued throughout Saturday and into Sunday morning. Carolina Schmidt said a deal was almost there but the outcome needed to be ambitious. The goal is a commitment to new carbon emissions cuts by the end of 2020.The European Union and small island states vulnerable to climate change are pushing for stronger commitments to cut those emissions. Some of the biggest polluters, including the United States, Brazil and India, say they see no need to change their current plans.Ms Schmidt, Chile...
Climate change: Stalemate at UN talks as splits re-appear

Climate change: Stalemate at UN talks as splits re-appear

Science
UN climate talks in Madrid enter their final scheduled day with divisions emerging between major emitting countries and small island states. Negotiators are attempting to agree a deal in the Spanish capital that would see countries commit to make new climate pledges by the end of 2020.But serious disagreements have emerged over how much carbon-cutting the major emitters should undertake.The talks have also become bogged down in rows over key technical issues. Negotiators arrived in Madrid two weeks ago with the words of the UN secretary general ringing in their ears - António Guterres told delegates that "the point of no return is no longer over the horizon". Despite hi