SoftBank Corp to spend $4 billion to up Yahoo Japan stake, sees profit rising 24 percent
Japanese telco SoftBank Corp said on Wednesday it would spend $4 billion to up its stake in Yahoo Japan Corp and turn the internet company into a subsidiary, a move that would help boost its profit by 24 percent this year.
Tencent pulls blockbuster game PUBG in China, launches patriotic alternative
Tencent Holdings Ltd on Wednesday shut down its test version of global blockbuster “PlayerUnknown’s Battlegrounds” in China and shifted users to a similar, more patriotic video game which, unlike PUBG, has regulatory approval to generate revenue.
Defying Brexit, Volvo car brand Polestar picks UK for new development hub
Swedish luxury electric carmaker Polestar, which is jointly owned by Volvo Cars and its Chinese parent Geely, is setting up an R&D center in Britain to develop future passenger cars, it said on Wednesday.
SoftBank Corp to buy $4 billion worth of new shares from Yahoo Japan
Japan’s SoftBank Corp said on Wednesday it would buy 456.5 billion yen ($4.15 billion) worth of new shares to be issued by Yahoo Japan Corp, boosting its stake to 44.64 percent from 12.08 percent.
As Uber gears up for IPO, many Indian drivers talk of shattered dreams
In 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could earn more than the $215 he received each month for making flatbreads at a roadside stall.
Siemens CEO says aim of overhaul is for sound and strong company
Siemens’ decision to separate and spin off its struggling gas and power business is intended to strengthen the group’s remaining businesses, Chief Executive Joe Kaeser said on Wednesday.
JPMorgan poised to be first foreigner to get majority in China fund venture
JPMorgan could become the first foreign company to own a majority stake in its Chinese mutual fund business, after its joint venture partner put a crucial 2 percent of the business up for sale that analysts expect the Wall Street bank to lap up.
Instant view: China’s oil, coal, soybean imports rise in April from year before
China’s imports of crude oil, coal and soybeans rose in April from the same month last year, while cargoes of iron ore and copper dropped, customs data showed on Wednesday.
China April exports unexpectedly fall but imports rebound as fresh U.S. tariffs loom
China’s exports unexpectedly shrank in April but imports surprised with their first increase in five months, painting a mixed picture of the economy as Washington ratchets up pressure on Beijing with threats of more punishing tariffs.
Toyota operating profit growth to drop this year on revenue slip
Toyota Motor forecast lower growth in operating profit for the current year on an expected drop in revenue and weaker vehicle sales in Japan and North America, underscoring the hard task ahead as it gears up to face a rapidly shifting industry.
