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Huboo picks up investment from Maersk Growth, the venture arm of container logistics giant A.P. Moller – Maersk – TechCrunch

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Huboo, the U.K. startup that operates a multi-channel fulfilment service for e-commerce businesses of varying sizes, has picked up an undisclosed amount of investment from Maersk Growth, the venture arm of Danish container logistics giant A.P. Moller – Maersk.

The funding is described as a bridge round designed to see Huboo through to a future Series A. It follows the disclosure of £1 million in seed backing in September 2019 led by London venture capital firm Episode 1, alongside a number of unnamed private individual investors. The startup is also backed by True Capital and Ada Ventures.

Launched in November 2017 by Martin Bysh and Paul Dodd after the pair had run a number e-commerce experiments, Huboo aims to solve the fulfillment pain point that most online stores face. The service promises to store your stock, and then “pick, pack and deliver it” automatically as customer orders are placed.

The idea is that by outsourcing fulfillment, online shops can focus on the parts of the business where most value is added, such as customer service and choosing which products to develop and/or sell.

The Huboo dashboard provides stock control, order tracking and billing information. Meanwhile, the startup’s “core operational technology” integrates with popular sales channels and marketplaces, such as Amazon, eBay and Shopify. The enables Huboo to directly receive and process its customers’ orders in real-time.

Comments Oliver Finch, Investor at Maersk Growth: “Fulfillment is a surprisingly complex and time-consuming aspect of e-commerce, particularly for smaller and mid-size companies that are the meaningful engines of global economic growth. Huboo offers a breakthrough to this underserved market, using advanced automation software to provide an effective and scalable solution. There’s clear alignment with Maersk Growth’s focus on driving innovation in the transport and logistics value chain and we are incredibly excited to be part of Huboo’s onward success”.

Since we last covered Huboo, it has opened a second purpose built warehouse, and expanded its full-time employees to 52. I’m also told clients have grown from 80 to 250, and that over 50% of revenues come from U.K. manufactured items and “re-commerce” clients.

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Oil crash 'not permanent,' Mexico sticks to output, investment plans – Financial Post

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MEXICO CITY — Mexico will press ahead with oil investment and production plans, its energy minister told Reuters on Friday, arguing that a global crash in crude and fuel markets will be short lived and does not merit a change in strategy.

In the coming days, the government will offer investment opportunities in more of its mature oilfields and network of refineries owned by national energy company Petroleos Mexicanos (Pemex), Energy Minister Rocio Nahle said in an interview.

“Today we’re in one of these phases where the price of oil is low, but this will not be permanent. Oil is a great business, the best in the world,” said Nahle.

“We’re going to wait, just like the rest of the world.”

The administration of leftist President Andres Manuel Lopez Obrador is not considering reopening the auctions for exploration and production rights to oil and gas fields, she added, which are favored by many foreign companies.

A close confidant of Lopez Obrador, an energy nationalist who favors a stronger state role in energy, Nahle emphasized that the government was not planning to cut crude production from state-run Pemex, even at its most expensive oilfields, amid global benchmarks losing more than half their value last month.

“All producing countries are maintaining output levels… Pemex is also doing that,” said Nahle, who also heads the Pemex board.

She also said there were no plans to suspend expensive infrastructure projects including the new $8 billion Dos Bocas oil refinery currently under construction and a top priority for Lopez Obrador, who has repeatedly said he wants to wean Mexico off of imported fuels.

Heavily indebted Pemex, which is teetering on the edge of a fresh downgrade by credit rating agencies, has suffered 15 consecutive years of falling crude output despite relatively low lifting costs in its mostly offshore portfolio of projects. Its current crude production is more than 1.7 million barrels per day.

Nahle emphasized that Pemex will decide which fields it would like private investment, but said those details will likely be unveiled at the weekend or next week.

Mexico’s national electricity company CFE will follow a similar tack, she added.

Producers of crude oil and refined products all around the world have already announced production cuts in reaction to lower demand due to the economic slowdown provoked by the coronavirus pandemic, in addition to growing difficulty finding space for storage.

In Latin America, the largest regional producer, Brazil’s state-controlled Petrobras, this week said it will widen production cuts to 200,000 barrels per day (bpd) from the 100,000 bpd in cuts originally planned, while shortening work hours and delaying investment in oil projects.

In Venezuela, state-run PDVSA has already seen its crude production to fall to around 670,000 bpd in recent weeks – a 25% decline vs previous months – mainly due to mounting inventories of unsold oil as U.S. sanctions on the firm and its trade partners tighten and demand for its crude in Asia plummets.

Latin America’s flagship crude grades lost over $7 dollars per barrel in average this week versus their mid-March prices, according to a Reuters analysis of data provided by traders.

Mexico’s Maya heavy crude, the most important regional benchmark, average $11.10 per barrel so far this week vs $17.34 in mid-March, according to data provided by S&P Global Platts.

Despite the prospect of a prolonged price slump, Nahle sounded an optimistic note.

“A lot of (investment opportunities) are coming, and those who are interested, those who are in this business and those who know will enter,” she said. (Reporting by David Alire Garcia; Additional reporting by Adriana Barrera and Marianna Parraga; Editing by Marguerita Choy)

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Credit Suisse sets up investment banking sustainability advisory – Financial Post

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ZURICH — Credit Suisse has set up a new investment banking advisory group to counsel clients on the issue of sustainability, the bank told staff on Friday.

Tom Greenberg, who currently co-heads the investment bank’s oil and gas group, will lead the Environmental, Social and Governance (ESG) advisory group, according to an internal memo seen by Reuters and confirmed by a spokeswoman.

“The group is tasked with capturing future investment banking opportunities and share of wallet, either through the identification of new high-growth clients that are solving global ESG challenges, or in advising existing clients on sustainable growth and finance opportunities,” David Miller, Credit Suisse’s head of Investment Banking and Capital Markets, said in the memo to staff.

As co-head of oil and gas, Greenberg has advised many of the bank’s largest energy clients on their strategic approach to the upcoming sustainable energy transition, Miller said.

Greenberg will also maintain his current oil and gas role, the memo said.

Angelica Nikolaussan, who the bank hired from Greentech Capital, an investment banking firm focused on supporting clients across sustainable technology and infrastructure, and recently acquired by Nomura, will join the ESG advisory group. (Reporting by Brenna Hughes Neghaiwi; editing by David Evans)

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Ontario makes $25-million emergency investment in post-secondary education – The Kingston Whig-Standard

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The Ontario government announced Tuesday a major investment of $25 million in emergency funding to help post-secondary students succeed in their studies as the province continues to tackle the COVID-19 pandemic.

“This is a great investment in our students and everything we’re doing to help them complete their studies,” Glenn Vollebregt, president and CEO of St. Lawrence College, said in a news release.

“Our staff and faculty have had great success delivering programs in an alternative format during this difficult time. This emergency funding will help ensure the resources are in place to support continued success.”

The announcement was made by Colleges and Universities Minister Ross Romano and the funding will go to colleges, universities and Indigenous institutes.

The funding addresses a range of fiscal pressures, including support for students stranded in a community, the purchase of cleaning and medical supplies, costs for physical and mental health resources, and the added expense of transitioning to remote learning.

With all in-person classes at Ontario colleges being cancelled on March 13 to protect the health and safety of students and staff, the colleges have implemented alternative measures to deliver programs, such as online learning and testing.

At St. Lawrence College, students have the opportunity to complete the winter semester through alternative delivery, which includes online learning, digital simulations and collaborating using conference and digital platforms.

The spring/summer semester will also be delivered through these alternative methods.

“We thank the government and Minister Romano for their commitment to our students. This emergency funding will make a difference,” Vollebregt said.

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