Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges
As casinos in Macau begin new licenses to operate in the world’s biggest gambling hub on Jan. 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: gambling.
Exclusive: Tesla makes China boss highest-profile executive after Musk
Tesla Inc’s China chief Tom Zhu has been promoted to take direct oversight of the electric carmaker’s U.S. assembly plants as well as sales operations in North America and Europe, according to an internal posting of reporting lines reviewed by Reuters.
Bank of Japan makes surprise policy tweak
The Bank of Japan has slightly loosened the shackles on its 10-year yield target and said it will review the operation of its yield-curve control policy, surprising financial markets and sending the yen sharply higher.
Exclusive: L3Harris nears $4.7 billion deal to acquire Aerojet Rocketdyne
L3Harris Technologies Inc is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc, 10 months after the latter’s $4.4 billion sale to Lockheed Martin Corp fell through, people familiar with the matter said on Saturday.
Turnover surges as funds rush to exit private equity stakes
Private equity holdings are being sold at a record clip in an opaque secondary market, investors say, as asset managers cash out to cover losses elsewhere and rebalance portfolios.
Foxconn fine for unauthorised China investment likely to be imposed soon – source
Foxconn, the world’s largest contract electronics maker, is likely to be fined soon by Taiwan’s government for an unauthorised investment in a Chinese chip maker, a person with direct knowledge of the situation said on Monday.
Morning Bid: No Messi magic for markets
Soccer fans enjoyed an extraordinary final of the World Cup on Sunday as high emotion and intense drama gave way to Lionel Messi leading Argentina to victory against France in a penalty shootout.
Germany’s half-a-trillion dollar energy bazooka may not be enough
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
Exclusive: China readying $143 billion package for its chip firms in face of U.S. curbs
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
U.S. finalizes $2.5 billion loan to GM, LG battery joint venture
The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities.
