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KKR and Bain each bid more than $5 bln for Seven & i assets, sources sayon December 25, 2024 at 1:41 pm
Reuters exclusively reported that private equity firms KKR and Bain Capital each offered more than $5 billion in first-round bids for the non-core assets of Japan’s Seven & i Holdings, according to people familiar with the matter. KKR offered around 800 billion yen ($5.1 billion) for York Holdings, an entity due to be spun out of the Japanese retailer, two of the people said. Rival U.S. firm…
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Rosneft, Reliance agree biggest ever India-Russia oil supply dealon December 12, 2024 at 8:33 pm
Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said. Why it matters The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today’s prices. It would further cement energy…
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China bans export of critical minerals to US as trade tensions escalateon December 3, 2024 at 9:36 pm
Reuters was more than two minutes ahead of major rivals with news that China had banned exports to the United States of the critical minerals gallium, germanium and antimony, with immediate effect, a day after Washington’s latest crackdown on China’s semiconductor sector. China’s move marked the latest escalation in trade tensions between the world’s two largest economies ahead of…
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Volkswagen India unit faces $1.4 billion tax evasion noticeon November 29, 2024 at 1:56 am
Reuters was first to report that India has issued a notice to German automaker Volkswagen for allegedly evading $1.4 billion in taxes by “wilfully” paying lesser import tax on components for its Audi, VW and Skoda cars. Volkswagen shares fell as much as 2.13% on the Frankfurt stock exchange after the Reuters report. Why it matters News about the potential liability, which could be as high as…
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Trump camp says China is ‘attacking’ US with fentanyl, they aim to fight back on November 26, 2024 at 3:07 am
As cited in Reuters special report, Donald Trump’s return to power portends a shakeup in the U.S. approach to addressing America’s fentanyl crisis and what counternarcotics officials say is the biggest obstacle to solving it: China. The post Trump camp says China is ‘attacking’ US with fentanyl, they aim to fight back appeared first on Reuters News Agency.
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India’s Andhra Pradesh state likely to suspend Adani power deal on November 26, 2024 at 7:52 am
India’s Andhra Pradesh state is likely to suspend a power purchase deal linked to Adani Group due to the U.S. indictment of the group’s billionaire founder Gautam Adani over an alleged bribery scheme, Reuters exclusively revealed. Why it matters The suspension, likely to be announced soon, would be the first such action by an Indian state government after U.S. prosecutors charged Gautam Adani…
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Sony is in talks to buy media powerhouse behind ‘Elden Ring’on November 19, 2024 at 11:43 am
Sony is in talks to acquire Kadokawa, the Japanese media powerhouse behind the “Elden Ring” game, Reuters exclusively reported, as the technology giant looks to add to its entertainment portfolio. Shares of Tokyo-listed Kadokawa, were flooded with buy orders after the report and finished the day up 23%, having risen by their daily limit. The company later confirmed it had received an initial…
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Ambani’s Reliance Jio IPO set for 2025, retail debut much later on November 4, 2024 at 1:52 pm
Reuters was first to report that Indian billionaire Mukesh Ambani is targeting a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion, but plans to launch his retail unit’s IPO much later. The story shed light on the plans of Asia’s richest man, who has for years been silent on the timelines of the mega IPOs of Reliance Jio and Reliance Retail. Why it…
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Eyeing US election, China considers over $1.4 trillion in extra debt over next few years on October 29, 2024 at 7:32 am
China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be further bolstered if Donald Trump wins the U.S. election, two sources with knowledge of the matter told Reuters. Why it matters The planned total amount, to be raised by issuing both special…
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US opposition to Nippon Steel deal ‘very unsettling’, Japan PM hopeful sayson September 6, 2024 at 11:06 am
Reuters exclusively reported that one of the frontrunners to become Japan’s next premier said that any U.S. move to block Japan’s Nippon Steel from buying U.S. Steel on national security grounds would be “very unsettling.” Shigeru Ishiba, a former defence minister, told Reuters in an interview that the move could dent trust between the allies. The White House is close to announcing that President…
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China tells some brokerages to conduct compliance checks on bond trading on August 9, 2024 at 10:57 pm
Reuters exclusively reported that China’s securities regulator has ordered some brokerages to inspect their bond trading activities as authorities seek to rein in frenzied buying of Chinese government bonds. The brokerages, all of which are domestic, have been told to conduct compliance checks on all parts of their bond trading operations. The post China tells some brokerages to conduct…
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India flags cricket rights concerns with Disney-Reliance $8.5 bln mergeron August 20, 2024 at 8:36 pm
Reuters exclusively reported that India’s antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights. It is the biggest setback so far to the planned Disney-Reliance merger, which aims to create India’s biggest entertainment player with a combined 120 TV channels…
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Japan, Tokyo governments target $4.7 bln valuation for Tokyo Metro in IPOon August 19, 2024 at 8:25 pm
Reuters exclusively reported that Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, in what would be the nation’s biggest IPO in roughly six years. The two governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing…
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US, Vietnam discuss supplying Hanoi with C-130 military transport planeson July 24, 2024 at 7:44 am
Reuters exclusively reported that the United States and Vietnam are discussing the sale of Lockheed Martin C-130 Hercules military transport planes to Hanoi, in a sign of closer security cooperation between the two former foes. The post US, Vietnam discuss supplying Hanoi with C-130 military transport planes appeared first on Reuters News Agency.
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India races to build power plants in region claimed by Chinaon July 9, 2024 at 1:48 pm
Reuters exclusively reported that India plans to spend $1 billion to expedite the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh, two government sources said, a move that could raise tensions with China that lays claims to the region. The post India races to build power plants in region claimed by China appeared first on Reuters News Agency.
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PwC weighs halving of China financial services audit staff on July 17, 2024 at 1:57 pm
Reuters exclusively reported that PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande Group. The post PwC weighs halving…
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Indian officials visit Foxconn iPhone plant, question executives about hiring on July 4, 2024 at 5:57 pm
Reuters exclusively reported that Indian labour officials visited a Foxconn factory in the country’s south this week and questioned executives about the company’s hiring practices after Reuters reported that the major Apple supplier has been rejecting married women from iPhone assembly jobs. The post Indian officials visit Foxconn iPhone plant, question executives about hiring appeared first on…
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