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☆ South Korea to speed up reforms for boosting shareholder returns and tackling 'Korea discount'
▼ + stars: | 2024-03-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

South Korea's financial regulator will look at speeding up the corporate reforms proposed last month and could reportedly add newer measures, after market players voiced concerns the steps might not be enough to tackle the so-called "Korea discount." The Financial Services Commission held a meeting on Thursday with domestic institutional investors and the country's pension fund, where vice chairman Kim So-young said the schedule for the reforms announced earlier would be speeded up, according to a Reuters report. "We will do our best to announce and implement before the previously planned schedule, as the market's expectations are high." In a statement issued after the meeting, the FSC said that establishing transparent markets, making capital market more accessible and pushing for shareholder returns to boost South Korea's undervalued stock markets. The regulator said it would also encourage institutional investors to "actively communicate with companies about the need to take voluntary measures to enhance valuations."

Persons: Kim So Organizations: Financial Services Commission, FSC Locations: Korea

☆ Canon Electronics leads plunge among Japan's Space One shareholder companies after rocket explodes
▼ + stars: | 2024-03-13 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Japan's Canon Electronics shares fell as much as 12.7% on Wednesday after Tokyo-based Space One's small rocket exploded just moments after its maiden launch. If successful, Space One would have been Japan's first company to put a satellite in orbit, according to Reuters. Space One was set up in 2018 by a consortium of Japanese companies including Canon Electronics, IHI Aerospace and construction firm Shimizu , along with the government-owned Development Bank of Japan. Space One's shareholder companies fell after the failed launch. IHI and Shimizu fell about 1%, while the banks edged lower.

Persons: Shimizu Organizations: Canon Electronics, Reuters, IHI Aerospace, Development Bank of Japan, Mitsubishi, Mizuho Financial Group Locations: Tokyo, Japan, Shimizu

A man takes photos of a view showing residential and commercial buildings, from an observation deck beneath the YTN Seoul Tower, commonly known as the Namsan Tower, in Seoul on September 3, 2021. Asia-Pacific markets rose after comments from U.S. Federal Reserve Chair Jerome Powell hinted that interest rate cuts may not be too distant if inflation signals support policy easing. Speaking to the Senate Banking Committee, Powell didn't offer an exact timeline for rate cuts, but noted they would go down soon. "We're waiting to become more confident that inflation is moving sustainably at 2%. When we do get that confidence, and we're not far from it, it'll be appropriate to begin to dial back the level of restriction," Powell said in response to a question about rates and inflation.

Persons: Jerome Powell, Powell, we're Organizations: U.S . Federal, Senate Banking Locations: Seoul, Asia, Pacific, U.S

☆ Asia markets set for muted session; Apple suppliers to be watched after iPhone sales fall in China
▼ + stars: | 2024-03-06 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Investors are paying attention to the stock market at a securities business hall in Fuyang, China, on December 5, 2023. Asia-Pacific markets were set for a muted session Wednesday after a tech slide on Wall Street overnight led by Apple following a report that iPhone sales fell in China. Apple shares slipped almost 3% in U.S. trading after a report from Counterpoint Research found iPhone sales plunged in China in the first six weeks of 2024. Investors will monitor shares of Apple suppliers in Taiwan and South Korea, including Taiwan Semiconductor Manufacturing Company and Samsung. Investors will also be watching for fourth-quarter GDP data from Australia later in the day.

Organizations: Apple, Research, Taiwan Semiconductor Manufacturing Company, Samsung, CSI Locations: Fuyang, China, Asia, Pacific, Taiwan, South Korea, Australia

☆ China EV shares are feeling the heat as price war concerns grow
▼ + stars: | 2024-03-05 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

While consumer interest is improving, the "wait for a better price" sentiment continues to constrain sales volumes for EV makers, Ding said. watch nowAt least 30% of China's entire auto market is made up of electric vehicles, with most of those EVs coming from homegrown brands. Hong Kong-listed shares of Li Auto fell 3.9%, while Nio shares dropped 3.6% and Xpeng was down 1.8%. BYD shares were up 0.4%. Despite price cuts announced earlier, Tesla still lost market share in China in January, mainly in the large cities, according to Morgan Stanley.

Persons: Tesla, Yuqian Ding, Ding, Xpeng, Morgan Stanley, Li, Li Auto, SCMP, Zhu Jiangming, Nio, BYD, Bernstein Organizations: Getty, HSBC Qianhai, CNBC, Li Auto, China Morning, Reuters Locations: Hong Kong, China, Stellantis

☆ Asia markets set to bounce ahead of China manufacturing data
▼ + stars: | 2024-03-01 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

(Photo by Vernon Yuen/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesAsia-Pacific markets were set to bounce Friday after a subdued session as investors awaited manufacturing data from China. While most Asia stock markets were lower on Thursday, China's CSI 300 closed almost 2% higher at 3,516.08 ahead of its purchasing managers' index reading for February. Official data is expected to show manufacturing PMI at 49.1, according to a Reuters Poll forecast. The private Caixin manufacturing final PMI is expected to come in at 50.6. A PMI reading above 50 indicates expansion, while below that denotes a contraction.

Persons: Vernon Yuen Organizations: Getty, Nurphoto, China's CSI, PMI, Nikkei Locations: Hong Kong, China, Asia, Pacific, China's, Chicago, Osaka, Australia, Korea

☆ India 'easily' the fastest growing economy, IMF executive director says, as GDP growth blows past estimates
▼ + stars: | 2024-03-01 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

India is 'easily' the fastest growing economy in the world, IMF executive director Krishnamurthy Subramanian said, as the country's third-quarter GDP growth blew past analysts' estimates. At 8.4%, India's economy expanded at its fastest pace in six quarters, data showed late on Thursday, strong private consumption and upbeat manufacturing and construction activity. Reuters estimates had pegged growth in the October to December period at 6.6%. The Indian government also raised its GDP growth outlook for fiscal year 2023-24 to 7.6% from 7.3% forecast earlier. Subramanian said that growth in India's economy was driven by a shift in the government's focus towards higher capital expenditure, which has increased significantly over the last few years.

Persons: Krishnamurthy Subramanian, India's, Subramanian, CNBC's Locations: India

☆ Disney's $8.5 billion Reliance merger is a streaming wars win in sports-obsessed India
▼ + stars: | 2024-02-29 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Disney announced Wednesday that the companies will be merging their respective Star India and Viacom18 units into a newly created Star India joint venture, valued at roughly $8.5 billion on a post-money basis, excluding synergies. The merger is expected to have more than 750 million viewers in the rapidly growing Indian market. Cricket feverDisney acquired Indian streaming service Hotstar and Star TV channels in 2019 and had exclusive streaming rights to cricket's lucrative Indian Premier League (IPL), which it had turned into a paid service by 2020. Disney lost 4.6 million customers for its streaming service, Disney+ Hotstar, in India during the first three months of last year. "I think I said six months ago that they're [Disney] going to see profitability in streaming by the end of 2024.

Persons: Pavlo Gonchar, Walt Disney, Mukesh Ambani, Nita Ambani, Ambani, Jamie Lumley, Lumley, Jason Ware, CNBC's Organizations: Disney, Getty, Walt, Reliance, Star India, Cricket, Star, Indian Premier League, IPL, Indian Premier League cricket, CNBC, Albion Financial Locations: India

☆ Asia markets poised to fall as investors await key U.S., China economic data
▼ + stars: | 2024-02-29 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

An investor watching share prices at the securities trading floor of Asia Commercial Bank in Hanoi, Vietnam. Asia-Pacific stocks were set to decline Thursday as investors awaited U.S. personal consumption expenditures price index data for clues on the Federal Reserve's interest rate cut path. The U.S. personal consumption expenditures price index — the Federal Reserve's preferred inflation gauge — is due later in the day, while China's manufacturing purchasing managers' index reading is scheduled to be released Friday. Futures for Hong Kong's Hang Seng index stood at 16,564, pointing to a marginally higher open compared to the HSI's close of 16,536.85 . The combined entity was valued at roughly $8.5 billion on a post-money basis, excluding synergies.

Persons: Walt Disney Organizations: Asia Commercial Bank, Reliance Locations: Asia, Hanoi , Vietnam, Pacific, Hong Kong

☆ China's Country Garden gets liquidation petition from creditor
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

China's Country Garden Holdings said Wednesday it received a liquidation petition filed by one of its creditors, deepening worries about the country's beleaguered property sector. Country Garden said it will oppose the petition "vigorously" and seek legal measures to do so. Country Garden said it intends to "proactively communicate" and work with its offshore creditors on its restructuring plan. China's property sector has historically been the bedrock of the country's economy, accounting for a large share of gross domestic product. Companies like Country Garden and Evergrande have struggled to repay their debt obligations and are now embroiled in drawn-out debt restructuring processes.

Persons: China Evergrande Organizations: Garden Holdings, Hong Kong, Monetary Fund, Companies Locations: Hong Kong, China

☆ Asia markets poised for gains as investors await New Zealand rate decision
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Electronic board displays stock prices of companies listed on the Tokyo Stock Exchange along a street in Tokyo on February 26, 2024. (Photo by KAZUHIRO NOGI/AFP via Getty Images)Asia-Pacific stock markets were set to inch up Wednesday after a subdued session as investors awaited key U.S. inflation and China data during the week, while the interest rate decision from New Zealand was also on tap. China's manufacturing purchasing managers' index reading and U.S. personal consumption expenditures price index — the Federal Reserve's preferred inflation metric — is due Thursday. The Reserve Bank of New Zealand is expected to hold its official cash rate at 5.50% later in the day, keeping it at a 15-year high. The earliest rate cut by the central bank is expected to be in July.

Persons: KAZUHIRO NOGI Organizations: Tokyo Stock Exchange, Getty Images, Reserve Bank of New Locations: Tokyo, AFP, Asia, Pacific, China, New Zealand, Reserve Bank of New Zealand

☆ Why South Korea's Japan-style measures to boost its stock market may not work
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSouth Korea's Japan-style measures for improving corporate governance may not be enough to boost its undervalued stock markets and tackle the so-called "Korea discount." Asia's fourth-largest economy is striving to boost stock market valuations that are considered much lower compared to peers, with analysts referring to the phenomenon as the "Korea discount." The 'chaebol' problemSouth Korean markets are made up of corporations called "chaebols," which are large family-owned global conglomerates, typically controlled by the founder's family. "The behavior that leads to South Korea's low stock prices is motivated, and therefore seeking to coax South Korean controlling families into 'being nice' to minority stockholders is unlikely to be successful," Pines said.

Persons: SeongJoon Cho, James Lim, Jonathan Pines, Federated Hermes, Daniel Tan Organizations: Korea Exchange, Bloomberg, Getty Images Bloomberg, Getty, Financial, FSC, Samsung Electronics, LG, SK, Hyundai, Dalton Investments, Japan, Korean Stock Exchange, Federated, Grasshopper Asset Management, CNBC Locations: Seoul, South Korea, Japan, Korea, Tokyo, Asia, Singapore

☆ Asia markets poised for mixed open; Japan stocks set to eke out gains
▼ + stars: | 2024-02-27 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Chinese flags and Hong Kong flags are hung in Tsim Sha Tsui district on Oct. 4, 2023 in Hong Kong, China. The Chinese government imposed a National Security Law in the special administrative region on June 30, 2020. Japan's Nikkei 225 index is poised for gains after closing at a record high in the previous session. Trading sentiment was subdued following a pause in Wall Street's rally on Monday as its main indexes retreat from record highs. Major economic data this week include China's manufacturing purchasing managers' index and the U.S. personal consumption expenditures price index data, which is the Federal Reserve's preferred inflation metric.

Organizations: Security Law, Japan's Nikkei Locations: Hong Kong, Tsim Sha Tsui, China, Asia, Pacific

☆ Asia markets set for mixed open as investors await data; Japan to return from holiday
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Electronic screens display gongs at the Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, China, on Tuesday, March 15, 2022. Asia-Pacific stock markets were set for a mixed session Monday as Japan returns from a long weekend and China shares look to extend their winning streak. Investors will focus on a slew of economic data expected this week including China's manufacturing purchasing managers' index and the U.S. personal consumption expenditures price index data, which is the Federal Reserve's preferred inflation gauge. On Thursday, Japan's Nikkei 225 closed at a new all-time high of 39,098.68, surpassing the previous record of 38,915.87 set in 1989. Japan's Nikkei 225 looked set for gains Monday, with the futures contract in Chicago at 39,490 and its counterpart in Osaka at 39,470 against the index's last close.

Organizations: Hong Kong Stock Exchange, CSI, Japan's Nikkei Locations: Hong Kong, China, Asia, Pacific, Japan, Chicago, Osaka

☆ South Korea unveils measures aimed at boosting stock markets, tackling 'Korea discount'
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A man leads a bull during a ceremony celebrating the New Year's opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. The announcement by the FSC highlighted steps that Korean authorities are taking to boost valuations of stock markets in Asia's fourth-largest economy. The country's stock markets are often considered undervalued by analysts, who refer to the phenomenon as the "Korea discount." The FSC said it will also introduce the "Korea Value-up Index" for institutional investors, including pension funds. "ETFs that track the Korea Value-up index will also be listed to facilitate retail investors' access to these companies," according to the statement.

Organizations: South, Korea Exchange, Financial, Commission, FSC, Nikkei Locations: South Korea, Korea, Seoul, Asia's, Tokyo

☆ Electric air transport is set to take off with taxis, ambulances, cargo deliveries by end of this decade
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

A model of a Wisk Aero LLC electric vertical takeoff and landing (eVTOL) air taxi during the Singapore Airshow in Singapore, on Wednesday, Feb. 21, 2024. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Among displays of defense jets, passenger airliners and high-tech aviation equipment at the Singapore Airshow were electric air transport vehicles — touted as the future of urban transportation. Electric vertical take-off and landing vehicles, or eVTOLs, which can land and take off vertically can be used as air taxis, for cargo delivery, medical and emergency response transportation and as private vehicles. A vertical takeoff electronic aircraft from Supernal is seen outside the Las Vegas Convention Center during the Consumer Electronics Show in Las Vegas, Nevada on Jan. 10, 2024. A cabin of an electric vertical take-off and landing (eVTOL) aircraft developed by Eve Air mobility displayed during the International Paris Air Show on June 20, 2023.

Persons: eVTOLs, Brendan Smialowski, Johann Bordais, Eve, Jaiwon Shin, Shin, Supernal's, Tencent, Catherine MacGowan, Wisk, MacGowan, Supernal's Shin, Geoffroy Van Der Organizations: Aero, Bloomberg, Getty, Singapore Airshow, CNBC, Hyundai Motor Group, Boeing, Embraer, Air Mobility, Las Vegas Convention, Consumer, Afp, Mobility, Singapore, Asia Companies, Olympic, Japan Airlines, Korea's, Korean Air, Supernal, Incheon International Airport, Eve, International Paris Air Locations: Singapore, SINGAPORE, Supernal, Las Vegas , Nevada, Asia, U.S, Brisbane, Australia, Japan, Asia —, South Korea, Korea, Incheon, South, Geoffroy Van Der Hasselt

☆ Asia markets set for mixed session as investors await China house prices data
▼ + stars: | 2024-02-23 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Hong Kong, a British colony from the 1840s to 1997, grew into an international finance center just off the coast of mainland China. Asia-Pacific markets were set for a mixed session Friday, with investors awaiting data on China's property prices to assess any signs of improvement in the debt-laden real estate sector. Japan markets led gains in the previous session, with the Nikkei 225 closing at a new all-time high of 39,098.68, surpassing the previous record of 38,915.87 set in 1989. Investors will monitor China house prices data for January. At the end of last year, the country's troubled property market clocked its worst declines in new home prices in nearly nine years.

Organizations: Nikkei Locations: Hong Kong, British, China, Asia, Pacific, Japan

☆ Boeing touts 737 Max as 'the safest airplane,' says China's C919 is similar to what's on the market
▼ + stars: | 2024-02-22 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Miniature models of Boeing commercial airplanes displayed at the Singapore Airshow in Singapore on February 20, 2024. SINGAPORE — Boeing touted its 737 Max aircraft as "the safest airplane" and said China's latest domestic jetliner Comac C919 is similar to offerings by Airbus and Boeing that are already in the market. However, he insisted it was "the safest airplane that can be out there today." A midflight blowout of a fuselage panel on one of Boeing's 737 Max 9 operated by Alaska Airlines earlier this year raised concerns about safety after loose bolts were found during preliminary inspections. On Wednesday, Boeing announced it will be replacing the head of its 737 Max program.

Persons: Dave Schulte, —, Schulte, Max Organizations: Boeing, Singapore, SINGAPORE — Boeing, Airbus, Max, Alaska Airlines, Wednesday, U.S . Air Force Locations: Singapore, SINGAPORE, Asia, Pacific

☆ Airbus says competition from China's Comac C919 is 'not going to rock the boat'
▼ + stars: | 2024-02-20 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

A commercial Aircraft Corp of China (Comac) C919 aircraft operated by China Eastern Airlines during the Singapore Airshow in Singapore, on Tuesday, Feb. 20, 2024. SINGAPORE — China's homegrown airliner may be the latest challenger to Airbus and Boeing's passenger jets, but an executive from Airbus said he's not worried. The Comac C919 is "not going to rock the boat in particular," Christian Scherer, chief executive officer of Airbus's aircraft commercial business, said at a media roundtable on the sidelines of the Singapore Airshow. "It looks a bit like an Airbus narrow body," Scherer said, tongue in cheek, noting that the C919 is "not very different" from what Airbus and Boeing already have in the market. Scherer acknowledged that the C919 was a "legitimate effort" by China — but "the market is large enough for competition, we welcome the competition."

Persons: he's, Christian Scherer, Scherer Organizations: Aircraft Corp of China, China Eastern Airlines, Airbus, Boeing Locations: Singapore, SINGAPORE, China

☆ The Fed is set to cut rates this year. Here are the Asian currencies that stand to benefit
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +5 min

Brent Lewin | Bloomberg | Getty ImagesThe U.S. Federal Reserve is expected to cut interest rates later this year and, while that may not be good news for the dollar , some Asian currencies stand to benefit. Higher interest rates boost a country's currency, attracting foreign investment and increasing demand for the country's currency. A weak U.S. dollar is generally positive for emerging markets, which is often the case when the Fed cuts interest rates outside of an economic crisis. Experts told CNBC currencies such as the Chinese yuan , the Korean won and the Indian rupee stand to benefit from the Fed loosening monetary policy. So those are also positive for the Indian currency," said Anindya Banerjee, vice president of currency and derivatives research at Kotak Securities.

Persons: Mahatma Gandhi, Brent Lewin, Yuan, Arun Bharath, Bharath, Simon Harvey , , Anindya Banerjee, Banerjee, South Korea's, Monex's Harvey Organizations: Bloomberg, Getty, . Federal, CNBC, Korean, Bel Air Investment Advisors, People's Bank of, FX, U.S, Kotak Securities, Bank of, Korea's, South Locations: Bangkok, Thailand, China, People's Bank of China, U.S, Bank of India, India, Europe, America

☆ China markets rise as upbeat holiday travel data boosts tourism stocks; Hong Kong shares fall
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Stock markets in China rose as traders returned from a long holiday on Monday to upbeat travel data, while Hong Kong stocks fell. The CSI 300 added 0.3% as trading resumed following the Lunar New Year holidays that saw consumer spending jump higher than pre-Covid levels, according to official data. Tourism stocks led the gains, jumping 2% shortly after the open. The People's Bank of China on Sunday held a key policy rate steady as expected, as markets reassess when the U.S. Federal Reserve might start easing its monetary policy this year. China's central bank said it was holding the rate unchanged at 2.5% on 500 billion yuan ($69.51 billion) worth of one-year medium-term lending facility.

Persons: Wang Yi, Antony Blinken Organizations: CSI, People's Bank of China, Sunday, U.S . Federal, China's, U.S Locations: China, Hong Kong, China's, United States, Beijing, Washington

☆ China will showcase its domestic jetliner at the Singapore Airshow. Here's what else to expect
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A model of Comac's C919 aircraft at the Singapore Airshow on Feb. 6, 2018. SINGAPORE — China is gearing up to showcase its narrow-body passenger jet to a global audience for the first time at the Singapore Airshow. Touted as a competitor to Boeing's 737 and the Airbus 320, the Comac C919 is quickly turning out to be one of the most anticipated features at this year's event. "Flying for the first time at the Singapore Airshow, is the C919, a narrow-body airliner developed by Chinese aircraft manufacturer Comac," Singapore Airshow organizer and manager Experia Events said in a statement. The Singapore Airshow is a fantastic opportunity for Comac particularly given the current situation with Boeing," Brendan Sobie of Sobie Aviation told CNBC.

Persons: Experia, Lockheed Martin, Thales, Brendan Sobie, Sobie Organizations: Singapore, Singapore Airshow, Airbus, Commercial Aircraft Corporation of China, Civil Aviation Administration, China, Aerospace, Boeing, Lockheed, Dassault, SAAB, Leonardo, Sobie Aviation, CNBC Locations: SINGAPORE — China, Singapore, China

☆ China Lunar New Year travel spending surpasses pre-Covid levels — is consumption revival in sight?
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

China's travel activity and spending jumped above pre-pandemic levels during the Lunar New year holiday, in a sign that consumption was improving in the world's second-largest economy. Tourists spent nearly 632.7 billion yuan ($87.95 billion) on domestic holiday trips, a 47.3% year-over-year jump, data showed. State broadcaster China Central Television said citing the ministry that domestic trips represented a 19% rise over the same period in 2019 while spending rose 7.7%. The Chinese mainland saw 3.6 million tourist departures and 3.23 million tourist arrivals during the holidays, according to the ministry, as mutual visa-free travel with certain countries hastened the recovery in both outbound and inbound travel during the holidays. However, sustainability of the bump in travel remains uncertain as tourism revenue per trip still remained below the pre-pandemic level.

Persons: Nomura Organizations: country's Ministry of Culture, Tourism, Tourists, China Central Television Locations: Sunday, State, China

☆ With no Boeing passenger jets at the Singapore Airshow, Airbus and China take centerstage
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019. SINGAPORE — Boeing will not be bringing any commercial planes to the Singapore Airshow, shifting the spotlight for passenger jets to rival Airbus as well as China's homegrown offering. While there will be aerial displays of commercial liners by Airbus and China's domestic jetliner Comac C919, Boeing will not have any commercial aircraft at the air show. While no commercial jets will be featured, Boeing will still be holding a cabin display of its wide-body 777X passenger plane, which the company claims is the world's largest twin-engine jet. This is the first major international aerospace event since the blowout last month, which pushed Boeing into another safety crisis after the U.S. safety regulators ordered the temporary grounding of more than 170 Boeing 737 Max 9 planes.

Persons: Max, Lockheed Martin, Thales, scuffling Organizations: Boeing, Boeing Factory, SINGAPORE — Boeing, Singapore, Airbus, U.S . Air Force, Lockheed, Dassault, SAAB, Leonardo, Max, Alaska Airlines Locations: Renton , Washington , U.S, SINGAPORE, Portland , Oregon

☆ Japanese chipmaker Renesas strikes $5.9 billion deal to buy software company Altium
▼ + stars: | 2024-02-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Japanese semiconductor firm Renesas Electronics said Thursday that it would acquire Sydney-listed software company Altium for 9.1 billion Australian dollars ($5.89 billion) in cash, as it seeks to streamline its electronics design process. Renesas said it would pay AU$68.50 per share, representing a 33.6% premium to Altium's closing price of AU$51.26 on Wednesday. Australia-listed shares of Altium jumped nearly 30% to near AU$66, while Tokyo-listed Renesas fell 3.2%. The deal has been unanimously approved by the board of both companies but its completion is subject to approvals from Altium shareholders, Australian court and regulators, Renesas said. The deal comes a month after Renesas agreed to buy Nasdaq-listed Transphorm for $5.10 per share in an all-cash deal worth $339 million.

Persons: Renesas, Altium, Jesper Koll, Koll, Aram Mirkazemi Organizations: Renesas Electronics, Sydney, Monex Group, CNBC, Japan Inc, Nasdaq Locations: Australia, Tokyo, Japan

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