India’s Reliance to sells $750 million stake in unit to Silver Lake, on track to cut debt
India’s Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.
Mirae Asset scraps $5.8 billion deal to buy U.S. hotels from China’s Anbang
South Korea’s Mirae Asset Global Investments said on Monday that it has terminated a $5.8 billion deal to buy 15 U.S. hotels from China’s Anbang Insurance Group [ANBANG.UL], accusing the insurer of breaching contract obligations.
Dollar up, Asian stocks slip as U.S. pins blame for virus on China
The dollar inched higher, stock markets struggled for traction and oil dropped on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
Oil prices slide on demand concerns, U.S.-China trade tension
Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
Trump administration pushing to rip global supply chains from China: officials
The Trump administration is “turbocharging” an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with U.S. planning.
Pandemic slams Asia’s factories, activity hits financial crisis lows
Asia’s factory activity was ravaged in April, business surveys showed on Monday, and the outlook dimmed further as government restrictions on movement to contain the coronavirus outbreak froze global production and slashed demand.
Citi names veteran Rizvi as APAC corporate banking head: memo
Citigroup Inc has named veteran banker Kaleem Rizvi as its Asia Pacific head of the corporate banking business, according to an internal memo reviewed by Reuters on Monday.
GM Korea to cut output of key SUV as virus hits U.S. exports: document
General Motors Co’s South Korean unit plans to sharply cut output this month at a factory producing its new Trailblazer sport-utility vehicle (SUV), as the coronavirus outbreak weighs on its U.S. exports and also disrupts parts supplies.
India’s Reliance says Silver Lake to invest nearly $750 million in its digital arm
Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest 56.56 billion rupees ($746.74 million) in its digital arm, giving it a valuation of 4.90 trillion rupees.
Dollar edges up, Asian stocks slip as U.S.-China tensions flare
The dollar inched higher, stock markets struggled for traction and oil fell on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
