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.
GLOBAL ECONOMY Factories squeezed by higher prices, weak demand
Factories across Asia and Europe struggled for momentum in July as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, likely adding to fears of economies sliding into recession.
Japan gives Kioxia and Western Digital $680 million to boost memory chip production
Japan’s government on Tuesday said it will provide as much as 92.9 billion yen ($680 million) to Kioxia Holdings and Western Digital Corp (WDC.O) to help them boost production and ensure a stable supply of memory chips in Japan.
GLOBAL ECONOMY Global slowdown fears darken as cost of living bites
The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday.
Toshiba board gains two directors from activist funds in historic shift
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion expected to add momentum to its exploration of potential buyout deals.
Exclusive: Bidders weigh offers valuing Toshiba at up to $22 billion – sources
Bidders for Toshiba Corp (6502.T) are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion.
Nintendo shares slump 6% on ‘Legend of Zelda’ delay
Nintendo Co (7974.T) shares slumped 6% in Tokyo trading after the Kyoto-based gaming firm said it was pushing back the release of the hotly awaited sequel to “Legend of Zelda: Breath of the Wild” to spring 2023 from this year’s planned debut.
Bank of Japan ramps up battle to defend yield cap even as weakening yen raises economic risk
The Bank of Japan kept up its relentless quest to defend a key yield cap by offering to buy unlimited amounts of 10-year government bonds on Tuesday, underscoring its resolve to keep policy ultra-loose and putting downward pressure on the yen.
Sony to buy ‘Destiny’ videogame developer Bungie in $3.6 bln deal
Sony Interactive Entertainment (6758.T) will acquire Bungie Inc, the original creator of the “Halo” videogame and developer of “Destiny”, in a deal valued at $3.6 billion, making it the latest in a wave of consolidations sweeping the gaming sector.
Stocks lurch lower, bonds jump as virus variant spooks investors
Stocks suffered their sharpest drop in three months in Asia on Friday and oil tumbled after the detection of a new and possibly vaccine-resistant coronavirus variant sent investors scurrying toward the safety of bonds, the yen and the dollar.
