Shenzhen stock exchange has suspended its registration of an initial public offering (IPO) application by Chinese automaker BYD Co Ltd‘s chip unit in China, according to a filing on the exchange dated Sept. 30. BYD Semiconductor needs to update its listing application with its latest financial reports, the filing said. The company aims to raise 2… Continue reading Shenzhen bourse suspends registration of BYD unit’s IPO applicationThe company is looking to raise $281m through the public offer
Category: Automotive
Prosus terminates $4.7b deal to buy Indian payments platform BillDesk
Dutch-based technology investor Prosus NV said on Monday its $4.7-billion deal to buy Indian payments platform BillDesk has been terminated, adding that conditions had not been met. In a short statement, Prosus said “certain conditions were not fulfilled” by a Sept. 30 deadline and “the agreement has terminated automatically in accordance with its terms.” BillDesk could not immediately be reached for comment. A spokesperson for Prosus said… Continue reading Prosus terminates $4.7b deal to buy Indian payments platform BillDesk
Chinese developer Sunac fulfils onshore bond payments as planned
Chinese property developer Sunac China made the June amortisation payments on an onshore bond as planned, scrapping an attempt to extend repayment, two sources with direct knowledge told Reuters. The Beijing-based group has been struggling to repay its creditors, and is undergoing an offshore debt restructuring after defaulting on some dollar bonds this year. Sunac had sought to… Continue reading Chinese developer Sunac fulfils onshore bond payments as planned
Noida Police seeks electric vehicles; spent over Rs 2 cr maintaining old cars
Representative Image Noida: Amid growing concerns about the environment in the national capital region, the Noida Police has sought a fleet of electric vehicles for patrolling and other duties in city areas, according to officials. Besides this, the police have written to the local authorities with a request for replacing over 60 vehicles with newer… Continue reading Noida Police seeks electric vehicles; spent over Rs 2 cr maintaining old cars
CFOs review capex plans amid global growth worries, rising interest rates
Finance leaders in companies are reviewing their capital investments for the current year with interest rates continuing to rise and the global demand environment looking increasingly uncertain. Last week, the Reserve Bank of India (RBI) hiked repo rates by another 50 basis points, taking them to 5.9%. Rates have been raised by 190 basis points… Continue reading CFOs review capex plans amid global growth worries, rising interest rates
@Subaru: Subaru Corporation announces changes in organizational structure and executive officer’s area of responsibility (Effective October 1, 2022)000166
October 3, 2022 Tokyo, October 3, 2022 – Subaru Corporation has announced the following changes in its organizational structure and executive officer’s area of responsibility which took effect on October 1, 2022. 1. Organizational change Manufacturing Div. Effective October 1, 2022 Former TPM Promotion Office (Newly established) — – TPM: Total Productive Maintenance – The function of… Continue reading @Subaru: Subaru Corporation announces changes in organizational structure and executive officer’s area of responsibility (Effective October 1, 2022)000166
Investors are learning to love industry again
A range of factors is driving a resurgence of interest in manufacturing Go to Source
SingTel-owned Australian telecom major Optus says ‘deeply sorry’ for cyberattackThe company has offered support to customers whose data has been breac…
Australia’s second-largest telcoms firm Optus, owned by Singapore Telecommunications, on Saturday ran a full-page apology in major newspapers for a “devastating” cyberattack 10 days ago and pointed affected customers to a new help site. “We’re deeply sorry that a cyberattack has happened on our watch,” the company said in the notice. “We know this is devastating… Continue reading SingTel-owned Australian telecom major Optus says ‘deeply sorry’ for cyberattackThe company has offered support to customers whose data has been breac…
DuPont’s $5.2b Rogers buyout deal faces Chinese regulatory hurdle
Chemicals maker DuPont De Nemours Inc has received all regulatory approvals for its $5.2 billion buyout of Rogers Corp except from China, the companies said on Friday. DuPont‘s all-cash takeover of the engineering materials maker would be its biggest deal since splitting from DowDuPont in 2019. DuPont and Rogers said they were continuing discussions with the State Administration for… Continue reading DuPont’s $5.2b Rogers buyout deal faces Chinese regulatory hurdle
Global hedge fund launches plunge, liquidations rise amid turmoil
New hedge fund launches dove in the second quarter to the lowest level since the 2008 global financial crisis, while fund liquidations spiked, industry data provider HFR said on Friday. There were 80 hedge fund launches between April and June, down 57% from the first quarter and the lowest number of new funds since the fourth quarter of 2008, when 56 funds were launched, according to HFR.… Continue reading Global hedge fund launches plunge, liquidations rise amid turmoil