By Anton Bridge TOKYO (Reuters) -Japan’s SoftBank Group posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters. The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for …
SoftBank reports mixed quarter, says ‘timidly’ restarting investment Read More »
By Aditi Shah and Nandan Mandayam NEW DELHI/BENGALURU (Reuters) -Maruti Suzuki, India’s top automaker by sales, said on Tuesday it would pay Suzuki Motor in preference shares to take over a local manufacturing plant in a deal that will also boost the Japanese automaker’s stake in the company. The share allotment will boost Suzuki’s stake …
Japan’s Suzuki to get bigger stake in India’s Maruti after sale of plant Read More »
TOKYO (Reuters) – Japan’s Kobe Steel raised its net profit forecast for the current fiscal year to a record high of 120 billion yen ($839 million) on expected higher selling prices and lower fuel costs, it said on Tuesday. The forecast was increased by 20 billion yen from the previous estimate and versus 72.5 billion …
Japan’s Kobe Steel raises annual profit forecast to record $840 million Read More »
(Reuters) -A number of global investors are opting out of Ant Group’s proposed share buyback after the Chinese fintech’s valuation was slashed by more than 70%, Bloomberg News reported on Monday. Among the investors not participating in the buyback are Warburg Pincus, Canada Pension Plan Investment Board (CPPIB), Carlyle Group and GIC Pte, Bloomberg said, …
Some global investors skip Ant’s buyback after valuation slumps 70% – Bloomberg News Read More »
By Valentina Za MILAN (Reuters) -Private equity firm Advent International has bought a majority stake in Australian fashion brand Zimmermann from the founding family and Italian fund Style Capital, it said. While the financial terms of the deal were not disclosed, two people close to the matter said the transaction valued the brand at around …
Advent buys Australian fashion brand Zimmermann in $1 billion deal Read More »
By Li Gu and Summer Zhen SHANGHAI/HONG KONG (Reuters) – Investors betting on recovery in China’s battered property sector are favouring the stocks and bonds of state-backed firms that are more likely to benefit from government support, market participants said. The hugely leveraged sector has been gutted by three years of measures aimed at curbing …
Investors bet on state-backed developers as Chinese property begins recovery Read More »
BEIJING (Reuters) – China’s exports of rare earths in July rose 49% from a year earlier to 5,426 metric tons, customs data showed on Tuesday, supported by healthy demand from the new energy vehicle and wind power sectors. The July volume, the highest since March 2020, is also higher than the 5,009 metric tons shipped …
By Lewis Jackson and Praveen Menon SYDNEY (Reuters) – Australia’s third largest pension fund will stay active in Japanese markets in the coming months and is neutral about China despite growing investor aversion to the country’s markets, a senior executive said on Tuesday. The A$160 billion ($104 billion) Aware Super made “good money” recently due …
Australian $100 billion pension fund says active in Japan, neutral on China Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose against major currencies on Monday, broadly supported by Federal Reserve officials saying additional interest rate hikes are likely given that inflation remains persistently high and the labor market is still tight. Fed Governor Michele Bowman said on Monday additional interest rate hikes will likely be …
US dollar gains as Fed comments on more rate hikes lend support Read More »
By Makiko Yamazaki and Anton Bridge TOKYO (Reuters) -Japan’s Toshiba said on Monday a $14 billion tender offer to take the industrial conglomerate private will be launched on Tuesday – an effort that will, if successful, buy out activist investors and return it to domestic hands. Toshiba’s board initially said private equity firm Japan Industrial …
Toshiba says tender offer to take it private will launch on Tuesday Read More »
