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☆ Sweden to play US in last 16 after beating Argentina while South Africa makes history
▼ + stars: | 2023-08-02 | by ( Matt Foster | ) edition.cnn.com time to read: +6 min

CNN —A meeting between Sweden and the US in the first knockout stage of the Women’s World Cup was confirmed on Wednesday as the Scandinavian side beat Argentina 2-0. Banyana Banyana’s 3-2 win at the Wellington Regional Stadium marked the African nation’s first win ever at a Women’s World Cup having qualified twice. South Africa makes historyOver in Hamilton, Banyana Banyana had to come from behind after Arianna Caruso put Italy ahead through a penalty early on. Benedetta Orsi is consoled by her teammate Lucia Di Guglielmo after scoring an own goal against South Africa. Catherine Ivill/Getty ImagesThe second half saw something of an onslaught from South Africa, who continually regained the ball high up the pitch and got numbers forward en masse.

Persons: Sofia Jakobssen, Rebecka Blomqvist, Argentina’s, Elin Rubensson, Banyana Banyana, Arianna Caruso, Robyn Moodaly, Benedetta Orsi, goalkeepr Francesca Durante, Durante, Orsi, Lucia Di Guglielmo, Catherine Ivill, Hildah Magaia, Banyana, Cristiana Girelli’s, Caruso, Gireilli, Thembi Kgatlana, Desiree Ellis, Valentina Giacinti, Kgatlana, Ellis ’, FIFA’s Organizations: CNN, Argentina, Wellington, Cup, South American, Waikato, Sofia, FIFA, US, Tokyo, National Team, South, Portugal Locations: Sweden, Italy, South Africa, Hamilton, New Zealand, Africa, Netherlands, England, Australia, Argentina

☆ Man Group shares tumble as fund performance disappoints
▼ + stars: | 2023-08-01 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

LONDON, Aug 1 (Reuters) - British hedge fund manager Man Group (EMG.L) posted forecast-beating first-half pretax profit and record assets under management on Tuesday, but a disappointing performance across several of its funds roiled investors, sending shares lower. Man reported negative investment performance at its AHL Evolution Fund and Numeric Global Core Relative Return fund for the first half of 2023, as well as its actively managed GLG Global Emerging Markets Debt Total Return Fund. Performance fees in both Man's AHL Evolution and funds marked "other alternatives" both fell by over 80% from a year earlier. Despite the first quarter volatility, Man reported net inflows of $2.6 billion for the period, coming in around 2.5% higher than industry peers. Man recommended an interim dividend of 5.6 cents a share, in line with guidance offered a year ago.

Persons: Antoine Forterre, Man, Luke Ellis, Man's, Robyn Grew, Ellis, Group's Forterre, Jefferies, Nell Mackenzie, Sinead Cruise, Sharon Singleton Organizations: Man, Credit Suisse, Reuters, AHL Evolution Fund, GLG, Varagon Capital Partners, Thomson Locations: U.S

☆ Wall Street looks past AMD's light guide, leading us to make a price target change
▼ + stars: | 2023-08-01 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Club name Advanced Micro Devices (AMD) delivered better-than-expected second-quarter results after the closing bell Tuesday, leading us to make a price target change. Revenue fell 18% year over year to $5.36 billion but outpaced the Street's expectation of $5.31 billion, according to estimates compiled by Refinitiv. Wall Street seems to think so as well, bidding up the chipmaker's stock in after-hours trading by more than 2%. The MI300A is designed to address High-Performance Computing (HPC) and AI workload needs, while the MI300X is designed specifically for generative AI applications. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we're, —, Jim Cramer's, Jim Cramer, Jim, Lisa Su, Robyn Beck Organizations: Devices, Revenue, Refinitiv, AMD, Management, Club, Nvidia, Data, PlayStation, Vision, Healthcare, Automotive, CNBC, Consumer Electronics, Afp, Getty Locations: Las Vegas , Nevada

E-commerce app Temu is taking on the larger Shein by selling cheap Chinese-made goods to Western consumers. The company owned by $119 billion PDD (PDD.O) is more like an online dollar store. Moreover, Temu offers generous discounts and free or subsidised shipping to users. Parent company PDD, whose Pinduoduo e-commerce unit competes with Alibaba (9988.HK) and JD.com (9618.HK) in China, discloses little about its overseas business. Temu offers everything from home appliances to electronics to toys, making it more of a direct competitor to Amazon.

Persons: Shein, Breakingviews, Temu, PDD, Bernstein, Peter Thal Larsen, Aditya Munjuluru, Thomas Shum Organizations: Reuters, United States, Wall Street, Temu, Bloomberg, HK, PDD, Thomson, & $ Locations: HONG KONG, Western, China, U.S, United States, Shein

☆ I run a tiny-home community in Texas for women fleeing toxic relationships
▼ + stars: | 2023-08-01 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Needing a way to support herself financially, she opened her own tiny-home village in 2019. After a few let downs, I heard about a gentleman from Decatur, Texas, who was building a tiny-home village and charging people $450 to rent land. The Bird's Nest tiny-home village. I created The Bird's Nest to support women that are in needThe Bird's Nest logo. Courtesy of Robyn YerianThe Bird's Nest focuses on empowering womenIn June, The Bird's Nest hosted its first-ever builder workshop.

Persons: Robyn Yerian, —, houser, I'm, I've, It's Organizations: Service Locations: Wall, Silicon, Cumby , Texas, Colorado Springs, Decatur , Texas, Decatur, Cumby

☆ Walmart focuses India’s retail valuation debate
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, July 31 (Reuters Breakingviews) - Walmart (WMT.N) is bumping up its stake in Flipkart, India’s e-commerce giant, at a handsome valuation. The U.S. retailer is buying shares from Tiger Global for $1.4 billion, according to the Wall Street Journal. It’s a good deal for the seller as investors assess India’s hottest retail businesses. Reliance Industries’ (RELI.NS) retail unit might come sooner; analysts peg its valuation anywhere between $57 billion and $131 billion. How the market finally values India’s consumer will be closely watched.

Persons: India’s, Japan’s SoftBank, Robyn Mak, Pranav Kiran Organizations: Reuters, Walmart, Tiger Global, Wall Street, Reliance Industries, Twitter, BT boss’s, of Japan, Thomson Locations: MUMBAI, Flipkart, U.S, Una

“In the age of AI, where data is the new oil, China is the new Saudi Arabia”, venture capitalist Lee Kai-fu declared in 2018. Washington may soon tighten export restrictions to China by targeting AI semiconductors, according to the Wall Street Journal. A slowing economy and brutal price war in the fiercely competitive cloud market will only make monetising AI products harder. China’s AI moment has arrived, only with far less promise than initially hoped. China wants to become a world leader in AI by 2030, according to a 2017 roadmap released by the State Council.

Persons: Lee Kai, OpenAI's, Xi Jinping, Goldman Sachs, Robin Li, Baidu’s, Bernstein, SenseTime, Xi, Una Galani, Thomas Shum Organizations: Reuters, Saudi Arabia ”, OpenAI's ChatGPT, European Union, Baidu, HK, Nasdaq, Washington, Wall Street, Nvidia, AMD, Microsoft, CloudWalk Technology, Cyberspace Administration, China, State, Thomson Locations: HONG KONG, China, Republic, Saudi Arabia, United States, Beijing, York, Shanghai

☆ Buyers Are Getting Home Loans From an Unlikely Source: The Seller of Their House
▼ + stars: | 2023-07-27 | by ( Robyn A. Friedman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/seller-financing-to-avoid-high-mortgage-rates-cd93d705

Persons: Dow Jones

Risk factors usually flag uncertainties in how Chinese laws are interpreted and enforced as well as the government's "substantial oversight and influence" over businesses. Chinese regulators want those boilerplate disclosures dropped; if not, offshore listing applications could be denied approval. Trying to appease both American and Chinese regulators will get tougher. On Friday, Chinese regulators held a rare meeting with KKR (KKR.N), Blackstone (BX.N), Carlyle (CG.O) and others to ensure they can continue to invest in the country. China's new offshore listing rules came into effect on March 31.

Persons: Didi Global, underwriters Goldman Sachs, Morgan Stanley, JPMorgan Chase, Carlyle, Una Galani, Thomas Shum Organizations: Reuters, Global, U.S . Securities, Exchange Commission, underwriters, JPMorgan, KKR, Blackstone, Bloomberg, Communist Party, China Securities Regulatory Commission, SEC, Thomson Locations: HONG KONG, Beijing, Hong Kong, United States, New York, China

☆ 5 ways parents can shore up a middle schooler’s self-image
▼ + stars: | 2023-07-25 | by ( Phylis Fagell | ) edition.cnn.com time to read: +9 min

Editor’s Note: Phyllis L. Fagell, a licensed clinical professional counselor and professional school counselor, is the author of “Middle School Matters.” Her new book is “Middle School Superpowers: Raising Resilient Tweens in Turbulent Times.”CNN —After a disappointing routine during a gymnastics meet, Addy Moser was full of self-doubt, so the 13-year-old tried silently encouraging herself using her own first name. It’s not easy for middle schoolers to counteract unrealistic expectations they absorb from peers, family members, the culture and themselves, which is why I devote a chapter in my new book, “Middle School Superpowers: Raising Resilient Tweens in Turbulent Times,” to acquiring “super security,” the power to develop a healthy self-identity. The good news is you can help your child acquire super security. Beyond offering unconditional love, which every child needs to feel secure, parents can do practical things to shore up a tween’s self-image. Parents can encourage children who use social media to be mindful about the posts they see and share.

Persons: Phyllis L, ”, Addy Moser, Jason Moser, “, Dad, ‘ Addy, Addy, ’ ” Moser, It’s, Michele Borba, Erlanger Turner, Moser, “ Sally, ” Moser, Devorah Heitner, Heitner, Jennifer Breheny Wallace, ” Wallace, Martin Seligman, Christopher Peterson, don’t, Wallace, ‘, ‘ You’re, ’, Amy Morin, Mary Alvord, ” Alvord, you’re, Robyn Silverman, Silverman, you’ve, I’m, Turner, Borba Organizations: “, Times, ” CNN, Michigan State University, Pepperdine University, Forster, Productions, Via Survey, SDI Locations: Los Angeles

☆ TSMC’s awkward signalling opens up chip limbo
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, July 21 (Reuters Breakingviews) - Is the chip market bottoming out? On the other hand, executives struck an upbeat tone on artificial intelligence, and noted the company is adding capacity on that front. TSMC's lower full-year revenue guidance now casts doubt on a much-anticipated year-end or early-2024 rebound in demand for electronics that would reverse the industry supply glut. Even so, investors have no clearer insight into how fast global demand will pick up, nor how the AI frenzy will evolve. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: C.C, Wei, TSMC, Robyn Mak, whir, Una Galani, Thomas Shum Organizations: Reuters, Taiwan Semiconductor Manufacturing, TSMC, Twitter, Thomson Locations: HONG KONG

☆ Opinion: As you cheer on America’s soccer stars in the Women’s World Cup, ask yourself this question
▼ + stars: | 2023-07-20 | by ( Opinion Robyn Ryle | ) edition.cnn.com time to read: +8 min

CNN —The 2023 Women’s World Cup Championship begins this week in Australia and New Zealand, and will be, for all appearances, a victory lap for gender equality in sports. Additionally, not all the physiological evidence lines up in men’s favor when it comes to athletic performance. Perhaps it’s no coincidence that the most popular sports worldwide are those that also most exaggerate underlying gender differences. Would the gap in athletic performance persist if girls truly had the same opportunities as boys to play at all levels? In 2023, as we enjoy the spectacle of mega-athletes like Megan Rapinoe and Alex Morgan, it’s time to rethink our stories about gender and athletic performance.

Persons: Robyn Ryle, it’s, they’re, Steph Curry’s, They’re, Megan Rapinoe, Alex Morgan Organizations: Hanover College, CNN, US, National, Manhattan, Research, Women’s Sports Foundation, NBA, Twitter Locations: Australia, New Zealand

☆ Commonwealth Games hit a financial wall
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, July 18 (Reuters Breakingviews) - Anyone who signs up for a marathon soon hears about the metaphorical wall that exhausted runners often hit around three-quarters of the way through the race. Australia’s state of Victoria has just crashed into the financial equivalent, much earlier, in its preparations for hosting the 2026 Commonwealth Games. Rio de Janeiro lost $2 billion hosting the 2016 Olympic Games, for instance. Andrews’ government, though, also wanted the Games to be hosted in several different cities – and added more sports, per the Commonwealth Games organising body. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Daniel Andrews, Andrews, Antony Currie, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, Victoria, Games, Commonwealth Games, Twitter, Cathay, Thomson Locations: Australia’s, Victoria, Rio de Janeiro

☆ Elizabeth Warren urges SEC to investigate Tesla over Twitter ties, corporate governance
▼ + stars: | 2023-07-17 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Sen. Elizabeth Warren, D-Mass., sent a letter urging the U.S. Securities and Exchange Commission to investigate Tesla and its board of directors over possible "conflicts of interest, misappropriation of corporate assets, and other negative impacts to Tesla shareholders" related to CEO Elon Musk's Twitter takeover. The take-private deal included $13 billion in debt, and Musk reportedly sold billions of dollars worth of his Tesla shares to finance the transaction. In recent weeks, Musk appointed Linda Yaccarino, who previously ran global advertising for Comcast's NBCUniversal, to the role of Twitter CEO. Her hiring stirred hope that Twitter's beleaguered advertising business would soon recover and that Musk would return to focus on Tesla and SpaceX. Tesla is scheduled to report its second-quarter earnings after the bell on Wednesday of this week.

Persons: Elon Musk, Finances Bruno Le Maire, Sen, Elizabeth Warren, Tesla, Elon, Gary Gensler, Warren, Robyn Denholm, Musk, Linda Yaccarino, Comcast's, Yaccarino Organizations: French, Finances, Chateau, U.S . Securities, Exchange Commission, Twitter, SEC, CNBC, Public Affairs, Tesla, SpaceX Locations: Versailles, Paris

☆ Elizabeth Warren asks SEC to investigate Tesla
▼ + stars: | 2023-07-17 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Democratic Senator Elizabeth Warren asked the SEC to investigate Tesla and its board of directors to determine whether they violated securities laws after CEO Elon Musk took over Twitter last year. Warren wrote that that disorder has spilled over into Musk’s management of one of the most influential electric car companies in the United States. “Tesla is publicly owned, and Mr. Musk and the Board have responsibilities to shareholders and the public in their management of the company,” Warren wrote. “These close relationships may explain the board’s persistent inability or unwillingness to address the concerns posed by Mr. Musk’s actions,” Warren wrote. Last December, the Democratic senator wrote Tesla shareholders may be hurt by its CEO’s ownership of Twitter in a letter to company chair Robyn Denholm.

Persons: Elizabeth Warren, Tesla, Elon Musk, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, Cathie Wood, “ Mr, Tesla’s, –, It’s, Robyn Denholm, missive Organizations: New, New York CNN, Democratic, SEC, Twitter, Securities and Exchange, Oppenheimer, Co, Wall, Audi, GM, Tesla, CNN Locations: New York, Massachusetts, United States

It is an unexpected truce between Sony, which makes Playstation consoles, and its far larger U.S. rival. Details have yet to be disclosed, and it's not clear why Sony, which Microsoft earlier offered a 10-year contract, has had a change of heart. Sony's video-game division reported digital software and content sales of $11 billion in the fiscal year to March. Yoshida has been selectively snapping up smaller gaming studios to beef up Playstation content, including splashing out $3.6 billion for developer Bungie. Details were not disclosed, but a Microsoft spokesperson clarified with various media that the deal is for 10 years.

Persons: it's, Boss Kenchiro Yoshida, Yoshida, Phil Spencer, Una Galani, Thomas Shum Organizations: Reuters, Activision Blizzard, Sony, Activision, Microsoft, Nintendo, Nvidia, U.S, UK Competition, Markets Authority, Bungie, Nikkei, Federal Trade, Thomson Locations: HONG KONG, U.S

☆ Fact Check-Biden did not announce the US Dollar will become cryptocurrency
▼ + stars: | 2023-07-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

President Joe Biden unveils Executive Order EO-14067, a groundbreaking move that transforms the US Dollar into a cryptocurrency. “There are no plans to convert the U.S. dollar into a digital asset,” White House Assistant Press Secretary Robyn Patterson told Reuters in an email. EO-14067 can be read on the Federal Register website (here) and a related “Fact Sheet” on the White House website can be seen (here). One of the reports ordered by EO-14067, a technical feasibility assessment from the Office of Science and Technology Policy, was released by the White House in September 2022 (here). President Joe Biden has not announced that the U.S. dollar will become cryptocurrency.

Persons: Joe Biden, Biden, Robyn Patterson, Read Organizations: U.S, of Digital Assets, EO, Reuters, Federal Register, White, U.S . Federal, Science, Technology, White House, U.S . Government Locations: cryptocurrency, U.S

☆ Biden throws his support behind Hollywood actors' strike
▼ + stars: | 2023-07-14 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

230712Count President Joe Biden among the supporters of the actors strike in Hollywood. "The President believes all workers — including actors — deserve fair pay and benefits," White House spokesperson said Robyn Patterson in a statement Friday. "The President supports workers' right to strike and hopes the parties can reach a mutually beneficial agreement." Biden, a proponent of organized labor, previously backed striking members of the Writers Guild of America in May, when Hollywood's scribes started picketing. Disney CEO Bob Iger told CNBC this week that he believes the writers and actors' expectations are "just not realistic."

Persons: Joe Biden, —, Robyn Patterson, Biden, They're, Bob Iger, Sen, Alex Padilla, Barbara Lee, Adam Schiff Organizations: NATO, Vilnius University, Writers Guild of America, Ford, General Motors, Screen, American Federation of Television, Radio Artists, Alliance, Television Producers, Hollywood, CNBC, Democratic, U.S, Reps, SAG Locations: Vilnius, Lithuania, Hollywood, California, Democratic California

☆ Bain’s Chindata buyout saga verges on absurd
▼ + stars: | 2023-07-13 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

On first blush, that appears to be what Bain Capital (BCSF.N) is trying to do with Chinese data centre operator Chindata . But it’s a saga that’s starting to verge on the absurd. Bain took Chindata public on the Nasdaq in September 2020. Less than three years later, the U.S. leveraged buyout veteran offered $8 per American Depositary receipt, valuing the company at $2.9 billion. The company has yet to acknowledge the offer from China Merchants Capital.

Persons: Bain, Chindata, there’s, Bain’s, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, Bain Capital, Nasdaq, U.S, Bloomberg, China Merchants Group, Chindata, Citi, Bain, China Merchants Capital, Thomson Locations: People’s Republic

☆ Trump supporter sues Fox News alleging Tucker Carlson defamed him by calling him an FBI informant who incited January 6 riot
▼ + stars: | 2023-07-12 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

Ray Epps sued Fox News, saying host-turned-Twitter vlogger Tucker Carlson defamed him. Carlson accused him of being an FBI informant who incited the Capitol riot. According to the lawsuit, Epps and his wife, Robyn Epps, both listened to Fox News push falsehoods about the results of the 2020 election. "The lies that Fox told were heard by Ray and Robyn Epps, loyal Fox viewers and fans of Tucker Carlson and other Fox personalities," the lawsuit says. The conspiracy theory about Epps has been frequently advanced by Tucker Carlson, a Twitter vlogger who was fired by Fox News in April.

Persons: Ray Epps, Twitter vlogger Tucker Carlson, Epps, Carlson, Ray Epps —, Donald Trump, Fox News —, Trump, Joe Biden, Fox, Robyn Epps, Ray, Tucker Carlson, Chadwick Moore, —, Kevin McCarthy, Robin, Fox News didn't Organizations: Fox News, Twitter, Capitol, Trump, Service, Fox, FBI, Smartmatic, Voting Systems, Dominion, CBS Locations: Wall, Silicon, Washington

☆ Fox News sued for defamation by Trump supporter Ray Epps over Jan. 6 conspiracy claims
▼ + stars: | 2023-07-12 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Ray Epps, in the red Trump hat, center, gestures to others as people gather on the West Front of the U.S. Capitol in Washington, D.C., Jan. 6, 2021. Fox News was sued for defamation Wednesday by self-described Donald Trump supporter Ray Epps for "spreading falsehoods" that Epps was an undercover FBI agent who was responsible for encouraging a mob of Trump backers that invaded the U.S. Capitol on Jan. 6, 2021. The suit by Epps, a former U.S. Marine, said that as Fox recently learned in the Dominion case, "its lies have consequences." He was among the throng of supporters of then-President Trump who gathered outside the Capitol on Jan. 6. Epps and other Trump backers believed false claims by Trump and his allies that the 2020 presidential election had been rigged in favor of President Joe Biden.

Persons: Ray Epps, Donald Trump, Epps, Tucker Carlson, Trump, Joe Biden, Ray Epps —, —, Robyn's Organizations: U.S, Capitol, Washington , D.C, Fox News, Trump, Arizona, Fox Corp, U.S . Marine, Fox, Republican Party, Dominion, U.S . Department of Justice Locations: Washington ,, U.S, Dominion, Delaware, Court

☆ Actors are poised to go on strike against studios and streaming services
▼ + stars: | 2023-07-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The actors could be on strike themselves without a last-minute deal with studios and streaming services on Wednesday. Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. This would be the first actors strike against television shows and movie productions since 1980. Just before the last deadline, it seemed as if an actors strike could be avoided.

Persons: haven’t, ”, Robyn Beck, It’s, Tom Nunan, Jonathan Handel, Handel, “, it’s, Blockbuster hadn’t, David Mumpower, Fran Drescher, —, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Drescher, –, Vanessa Yurkevich Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Alliance, Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., Federal Mediation, Conciliation Service, SAG, UCLA School of Theater, Film, Television, Writers Guild of America, Blockbuster, AMPTP, Gabbana’s Locations: New York, AFP, Moda, Southern Italy

☆ Private equity gears up for a deal fest Down Under
▼ + stars: | 2023-07-11 | by ( Antony Currie | ) www.reuters.com time to read: +5 min

So it’s fitting that one of the country’s most hotly contested deals involving overseas private equity firms is for Rugby Australia. It’s also a teaser for the deal fest buyout shops are gearing up for Down Under. Another veteran, Blackstone (BX.N), has doubled its private equity headcount over the past couple of years. Reuters GraphicsWith $676 billion of private equity dry powder in the Asia-Pacific region, according to consultancy Bain & Co, regularly capturing a two-fifths share implies up to $270 billion of capital could be heading Down Under in the coming years. Australia, he said, was too small and too competitive for private equity firms to make money.

Persons: It’s, Blackstone, EQT, they’re, it’ll, there’s, Brian Hong, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, Rugby Australia, CVC Capital Partners, Australian Financial, Down, Brookfield Asset Management, CVC, Nine Entertainment, AusNet Services, MidOcean Energy, Origin Energy, Retirement Trust, Consumer, Sydney Airport, Bain & Co, Reserve Bank of Australia, U.S . Federal Reserve, Macquarie Capital, Thomson Locations: Asia, Australia, China, People’s Republic, Asia Pacific, Pacific

☆ Tesla's mysterious 'Project 42' might be a glass house for Elon Musk, report says
▼ + stars: | 2023-07-11 | by ( Sindhu Sundar | Grace Kay | ) www.businessinsider.com time to read: +2 min

A Tesla project that led to an internal review could be a home for its CEO Elon Musk, WSJ reported. Tesla board members were involved in investigating the order, WSJ reported. An opaque project within Tesla dubbed "Project 42" might be getting some transparency — the endeavor is said to involve a glass house for Elon Musk, The Wall Street Journal reported. It's not clear if the building project is still in the works, or whether the glass order was ever delivered, the Journal reported. It's also not clear what role, if any, Afshar still holds at Tesla (though an email that Insider sent to his Tesla email account did not bounce back).

Persons: Elon Musk, Tesla, Omead Afshar, Musk, It's, Insider's, Afshar, Tesla's, Robyn Denholm Organizations: Morning, Elon, Street Journal, Bloomberg, Twitter, SpaceX, Austin Business Journal, WSJ Locations: Texas, Austin

☆ China car price truce skids off road at first bend
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, July 10 (Reuters Breakingviews) - So much for an end to big discounts on new vehicles in China. On Saturday the China Association of Auto Manufacturers (CAAM) reversed out of the pledge it had brokered just two days earlier with Tesla (TSLA.O) and 15 domestic carmakers to curb a debilitating price war in which some models were being sold for 20% or more below their sticker price. But it quickly dawned on – or was made clear to – the CAAM that such wording might violate the spirit of China’s anti-monopoly law. It would have been a hard agreement to stick to anyway, with Volkswagen (VOWG_p.DE) and others refusing to sign it. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Tesla, Antony Currie, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, China Association of Auto Manufacturers, Ministry of Industry, Information Technology, Volkswagen, Twitter, Thomson Locations: China

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