SINGAPORE (Reuters) – Toyota Motor Corp has agreed to invest $1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company’s ongoing financing round.
Could North Korea’s economy, the most isolated in the world, ever follow in the footsteps of Vietnam’s? Seoul-based Maeil Business Newspaper reported Kim Jong Un said during a private summit with South Korea that he saw a “Vietnam-like” opening of the country, probably referring to Hanoi in 1986. Vietnam’s ruling communist party dropped collectivism to pursue a “socialist-oriented market economy,” under which the country’s GDP growth increased by an average of 3% per year over the next decade. …read more […]
HONG KONG (Reuters) – The Hong Kong-listed shares of China’s ZTE Corp were set to slide 38 percent on Wednesday following a two-month trading suspension after it agreed to pay up to $1.4 billion in penalties to the U.S. government.
TOKYO (Reuters) – Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic U.S.-North Korea summit in Singapore.
(Reuters) – Qualcomm Inc has no plans to abandon its efforts to create processors for data centers, the company’s president, who oversees the chip division, said.
SINGAPORE (Reuters) – Oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary production cuts led by producer cartel OPEC could be loosened.
(Reuters) – Australia’s Investa Office Fund (IOF) and Blackstone Group on Wednesday entered into a scheme implementation agreement through which the U.S. private equity giant would acquire real estate investment trust for A$3.08 billion ($2.3 billion).
LONDON (Reuters) – Investor anger over the departure of WPP boss Martin Sorrell will burst into the open on Wednesday when shareholders tackle management over its handling of a boardroom battle that has gripped the British corporate scene.
NEW YORK (Reuters) – The S&P 500 and Nasdaq ended higher on Tuesday, boosted by gains in the technology and utilities sectors, and shares of media and telecom companies jumped in extended trade after AT&T won court approval to buy Time Warner.
An analyst got bullish on Model 3 production, and then Tesla announced a round of layoffs. …read more […]
(Reuters) – Guess Inc said on Tuesday its co-founder, Paul Marciano, had resigned as the company’s executive chairman after a special committee completed an investigation into allegations of improper conduct.
The annual dance of supply chain rumors has caught Apple Inc. (NASDAQ:AAPL) short of the $1-trillion market cap level. Shares dropped $3 overnight on Jun. 7, a loss of nearly $15 billion in market cap, after reports from Japan that the company is planning to ship 80 million iPhones next year, down from 100 million. The company sold 217 million phones, including older models, during the fiscal year ending last September, and 129.5 million for the six months ending in March. …read more […]
A federal judge on Tuesday gave the green light to AT&T’s (T) $85 billion acquisition of Time Warner (TWX), in a case that has captivated deal-watchers because it involves a vertical merger. …read more […]
This week completely scrambled the video landscape, and its implications are …read more […]
SAN FRANCISCO (Reuters) – The U.S. central bank’s staunchest advocate for faster interest-rate hikes is set to regain the power to vote at the Federal Reserve’s rate-setting meetings starting next month, but the shift is unlikely to mean faster rate hikes under Chair Jerome Powell.
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