TOKYO (Reuters) – Japanese chipmaker Rohm Co Ltd and automaker Suzuki Motor Corp have joined a proposal by private equity fund Japan Industrial Partners to take over Toshiba Corp, the Nikkei newspaper said on Wednesday. Rohm will invest about 300 billion yen ($2.14 billion) in the buyout proposal, Nikkei said, citing multiple sources it did…
By Krystal Hu and Eva Mathews (Reuters) -Elon Musk’s rocket and satellite company SpaceX is in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation, sources told Reuters. The offering would be aimed at helping employees and shareholders cash out,…
By Aditya Kalra NEW DELHI (Reuters) – India’s Tata Group is planning to open at least 20 “beauty tech” stores where it will use virtual makeup kiosks and digital skin tests to get young, affluent shoppers to buy premium cosmetic products, according to a company document and a person familiar with its strategy. The move…
BEIJING (Reuters) – China’s new home prices fell at a faster pace in October as persistent COVID-19 curbs, a faltering economy and property woes weighed on demand, official data showed on Wednesday, but a rescue package for the sector has brightened the outlook. New home prices declined 0.3% month-on-month in October after easing 0.2% in…
By Kaori Kaneko TOKYO (Reuters) -Japan’s machinery orders unexpectedly fell in September in a sign the global economic slowdown and higher import costs are weighing on firms’ capital spending plans. Core orders, a highly volatile data series regarded as a barometer of capital expenditure in the coming six to nine months, fell 4.6% in September…
By Lewis Krauskopf, Amruta Khandekar and Ankika Biswas (Reuters) – Wall Street’s main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve. Equities were boosted…
By Blake Brittain (Reuters) – A federal jury in Texas on Tuesday said Intel Corp must pay VLSI Technology LLC $948.8 million for infringing a VLSI patent for computer chips. VLSI, a patent-holding company affiliated with the SoftBank Group Corp-owned private equity firm Fortress Investment Group, argued during the six-day trial that Intel’s Cascade Lake…
WASHINGTON (Reuters) -U.S. Senate Republican Leader Mitch McConnell on Tuesday downplayed the likelihood the chamber will vote by year’s end to raise the federal government’s statutory limit on borrowing, noting that such legislation is not needed until next year. “I don’t think the debt limit issue is until sometime next year,” McConnell told reporters when…
By Herbert Lash NEW YORK (Reuters) – Stocks pared gains and the dollar rebounded against the euro after media reports that Russian missiles killed two people in Poland, a strike that raised fears the nine-month Ukraine war could escalate. The Dow Industrials straddled break-even and the dollar also see-sawed to trade little changed as firefighters…
WASHINGTON (Reuters) – The Biden administration is asking Congress for $9.25 billion to fight COVID-19 and an additional $37.7 billion to support Ukraine in its war with Russia as part of a supplemental funding request, U.S. officials said on Tuesday. The administration is also requesting $750 million to fight other infectious diseases and will be…
