November 18, 20240 Comments

Exclusive-Country Garden submits offshore debt restructuring plan to creditors, sources say By Reuters

By Xie Yu and Clare Jim HONG KONG (Reuters) – Country Garden (HK:) submitted the preliminary terms of its offshore debt restructuring proposal to some creditors late last month, said five sources familiar with the matter, as the indebted Chinese property developer tries to avoid liquidation. The restructuring proposal includes a revised cash flow projection, said two of the sources who have direct knowledge and another person familiar with the

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November 18, 20240 Comments

Tata seals deal with Pegatron for iPhone plant in India’s Tamil Nadu, sources say By Reuters

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) -India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron’s only iPhone plant in India, forming a new joint venture that strengthens Tata’s position as an Apple (NASDAQ:) supplier, two sources told Reuters. Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold

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November 17, 20240 Comments

Russia resells more gas in Europe after cutting off Austria, sources, data show By Reuters

By Jason Hovet, Thomas Escritt and Dmitry Zhdannikov BERLIN/PRAGUE/LONDON (Reuters) – Russian gas flows to Austria were suspended for a second day on Sunday because of a pricing dispute but other buyers in Europe stepped in to snap up unsold volumes, companies and sources said and data showed. Russia, which before the Ukraine war was the biggest single supplier of gas to Europe, has lost most of its buyers on

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November 11, 20240 Comments

Toyota aims to ramp up China production in a strategy pivot, sources say By Reuters

By Maki Shiraki TOKYO (Reuters) – Toyota aims to make at least 2.5 million vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development. The plan, which has not been previously reported, represents a strategic pivot by the world’s top selling automaker in the world’s largest

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November 9, 20240 Comments

Exclusive-Toyota aims to ramp up China production in a strategy pivot, sources say By Reuters

By Maki Shiraki TOKYO (Reuters) – Toyota aims to make at least 2.5 million vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development, The plan, which has not been previously reported, represents a strategic pivot by the world’s top selling automaker in the world’s largest

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November 9, 20240 Comments

Exclusive-Singapore’s DBS eyes Malaysian bank stakes in expansion push, sources say By Reuters

By Yantoultra Ngui SINGAPORE (Reuters) – Singapore’s biggest lender DBS Group Holdings Ltd (OTC:) is exploring expanding into Malaysia with potential acquisitions of stakes in banks in its Southeast Asian neighbour, including in one of Malaysia’s smallest banks by assets, two sources said. DBS is exploring a purchase of Singapore state investor Temasek’s 29.1% stake in Alliance Bank Malaysia Bhd, said the two sources with knowledge of the matter, a

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November 8, 20240 Comments

Kioxia files IPO registration statement; targeting December, sources say By Reuters

By Miho Uranaka and Sam Nussey TOKYO (Reuters) -Bain Capital-backed Kioxia filed a registration statement on Friday which will allow the Japanese chipmaker to sound out investors for an initial public offering. Kioxia’s filings indicate it aims to conduct an IPO some time from December through June 2025. The chipmaker is targeting December, two people familiar with the matter said. Bain scrapped plans for an IPO in October after investors

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November 8, 20240 Comments

BlackRock in talks to buy minority stake in Millennium, sources say By Reuters

(Reuters) – BlackRock (NYSE:) is in early-stage talks to take a minority stake in hedge fund Millennium Management, the Financial Times reported on Thursday, citing people familiar with the situation. The talks are at an early stage and may not lead to a deal, the report said, adding that any equity stake is likely to be small. If the deal were to materialize, it would mark the first time that

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