With Alibaba stake cut, SoftBank’s Son cools toward China tech
SoftBank Group Corp’s (9984.T) decision to sell down its Alibaba Group Holding (9988.HK), stake for a $34 billion gain may be aimed at bolstering its finances, but it also underlines how CEO Masayoshi Son has cooled on China tech.
Funds begin parking sanction-hit Russian assets in ‘side pockets’
Some of the world’s biggest money managers are talking to investors and regulators about stripping Russian assets from their funds, helping them unlock billions of dollars of investments which became illiquid due to the war in Ukraine.
Exclusive: Kazakhstan to start oil sales via Azeri pipeline to bypass Russia
Kazakhstan is expected to sell some of its crude oil through Azerbaijan’s biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three sources familiar with the matter said.
Analysis: China investors hedge U.S. delisting risk with Hong Kong play
Global fund managers holding U.S.-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges.
Indian companies swapping dollar for Asian currencies to buy Russian coal
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow.
Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal
Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.
U.S. House lawmakers look to jump-start self-driving legislative push
Two members of the U.S. House of Representatives are launching a bipartisan effort to help revive legislative efforts to boost self-driving vehicles.
Analysis: Democrats score big wins on climate, drugs with $430 billion U.S. Senate bill
Democrats scored a major policy victory when the U.S. Senate passed a $430 billion climate change, healthcare and tax bill that will help reduce the carbon emissions that drive climate change while also cutting drug costs for the elderly.
Explainer: What to watch out for as talks on U.S.-China audit deal drag on
The list of Chinese companies facing delisting risks in New York in a long-running dispute over Chinese audits of their accounts continues to expand with the addition of three more on Friday after e-commerce giant Alibaba’s (9988.HK) July inclusion.
Oil stays near multi-month lows on demand worries
Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States.
