DIRS.INFO The most relevant business & tech news

☆ Russia wields ‘silent weapon’ of grain exports to weaken Ukraine
▼ + stars: | 2023-10-05 | by ( Clare Sebastian | ) edition.cnn.com time to read: +8 min

This will amount to 22.5% of global wheat exports, a market-leading share. In the same period, Ukraine’s share of global wheat exports has shrunk from 9% to an expected level of a little over 6% for this season. “Ukraine’s [grain] exports are vital to its economy and to feed the world,” Bridget A. S&P Global expects its wheat exports to fall by 3.7 million tons to 13.4 million in 2023-24, the lowest in nine years. And a significant reduction in the global wheat supply could yet lift prices, suggests Welsh.

Persons: Dmitry Medvedev, Vladimir Putin, ” Caitlin Welsh, Bridget A, Putin, Andrey Sizov, Stringer, ” Welsh, Sizov, Vladimir Nikolayev, Paul Hughes, ”, Olesya, Svitlana Vlasova Organizations: London CNN —, Russia’s Security, Global, CNN, Initiative, Center for Strategic, International Studies, Moscow, Twitter, Getty, Union, European Commission, EU, US Department of Agriculture, Reuters, Romania, P Global, “ Locations: Russia, Ukraine, Moscow, Nedvigovka, AFP, Ukraine’s, Poland, mudslinging, Egypt, Siberian Novosibirsk, “ Ukraine

BRUSSELS, Oct 4 (Reuters) - European Union antitrust regulators have commissioned a study into mobile ecosystems to help them counter any pushback from Apple (AAPL.O) and Alphabet's (GOOGL.O) Google in complying with new tech rules. They will also have to let users install apps from outside their app stores, a move which Apple said would make phones the target of malware or hijacking by cybercriminals. A tender for the study, worth 300,000 euros ($315,200), will run until Oct. 17, according to an announcement on the European Commission website. "The aim of the study is to support the supervision and enforcement of the DMA vis-a-vis the gatekeepers," the tender document said. ($1 = 0.9517 euros)Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Apple, Foo Yun Chee, Kirsten Donovan Organizations: Union, Apple, Google, Markets, cybercriminals, European Commission, Thomson Locations: BRUSSELS

PARIS (AP) — Valentino took a sentimental journey to Les Beaux-Arts this Sunday, revisiting the prestigious Parisian art school where its founder, Valentino Garavani, was once a student. Dive into the highlights of this Spring/Summer 2024 ready-to-wear collections from Paris, including the end of an era at Alexander McQueen as its lauded designer Sarah Burton presented her final show. Strategically positioned boxes filled with rocks, sand, and earth transformed into platforms for a troupe of sinewy, scantily clad contemporary dancers. Her task had always been titanic – to step into shoes left empty by the enigmatic genius of Lee Alexander McQueen. From the profound artistry of Kate Middleton’s wedding gown – a garment that transcended royal expectations – to her final collection’s poignant motifs, Burton proved her mettle time and again.

Persons: — Valentino, Les, Valentino Garavani, Alexander McQueen, Sarah Burton, VALENTINO, Pierpaolo, pare, Lee Alexander McQueen, Burton, Magdalena Abakanowicz’s, Kate Middleton’s, –, Naomi Campbell, Cate Blanchett, Elle Fanning Organizations: PARIS, Les Beaux, Beaux, Arts Locations: Paris, Polish

☆ India central bank says 96% of 2,000-rupee notes returned, extends deadline by a week
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Sept 30 (Reuters) - The Reserve Bank of India (RBI) said on Saturday it would extend its deadline to return the country's highest denomination 2,000-rupee ($24) currency notes by a week to Oct. 7. The total value of 2,000-rupee notes in circulation was down to 140 billion rupees as of Sept. 29 from 3.56 trillion rupees as of May 19, the RBI said. The RBI said 96% of the 2,000-rupee currency notes had been returned as of Friday, worth 3.42 trillion rupees ($41.19 billion). The 2,000-rupee notes were introduced in 2016 to replenish currency in circulation after the government's shock move to demonetize the economy by scrapping other high-value banknotes. However, the central bank has frequently said that it wants to reduce high-value notes in circulation and stopped printing 2,000-rupee notes four years ago.

Persons: Siddhi Nayak, Giles Elgood Organizations: Reserve Bank of India, Siddhi, Thomson Locations: MUMBAI

☆ Evergrande sold yacht this year, say sources, as creditors sharpen focus on offshore assets
▼ + stars: | 2023-09-29 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

The yacht "Event", which is believed to be owned by China Evergrande, is docked in Hong Kong, China October 11, 2021. Evergrande's offshore bondholders are expected to sharpen their focus on offshore assets as the developer's debt restructuring plan flounders with the founder now being investigated over suspected "illegal crimes". Compared to its $31.7 billion in total offshore liabilities, Evergrande has far fewer assets outside China. Of the remaining offshore assets of the company and its founder, creditors would need to establish whether they have already been used as collateral to raise funds. Foreign bondholders' "ability to get to these (offshore) assets is a function of the legal claim - has he (Chairman Hui) pledged it?"

Persons: China Evergrande, Tyrone Siu, Evergrande, Hui Ka Yan, Hui, Scott Murdoch, Julie Zhu, Marc Jones, Sumeet Chatterjee Organizations: REUTERS, Rights, China Evergrande, HK, Reuters, Boeing, Gulfstream, Wall Street Journal, Thomson Locations: China, Hong Kong, Sydney, London, Lincoln

☆ ‘Harry Potter’ star Bonnie Wright gives birth to her first child
▼ + stars: | 2023-09-28 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

CNN —Bonnie Wright, the actress best known for playing Ginny Weasley in the “Harry Potter” movies, has given birth to a boy. Wright, 32, posted a photo on Instagram on Wednesday of her newborn baby snuggled under a brown knitted blanket and wearing an adorable striped hat. “Say hello to Elio Ocean Wright Lococo born at home on Tuesday 19th September. Ok hormonal emotional extra long caption over!”Wright played the younger sister of Harry's best friend Ron Weasley. Warner Bros/Courtesy Everett CollectionIn the movie franchise, Wright was cast as the younger sister of Potter’s good friend Ron Weasley, played by Rupert Grint.

Persons: Bonnie Wright, Ginny Weasley, Harry Potter ”, Wright, Elio Ocean Wright Lococo, ”, Andrew Lococo, Andrew, Elio, ” Wright, Ron Weasley, Warner, Rupert Grint, “ Organizations: CNN, Warner Bros, YouTube

☆ I tried the salads and savory bowls at Sweetgreen and Cava. Both chains are Gen Z favorites — but there's a clear winner.
▼ + stars: | 2023-09-28 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

Cava, billed as a Mediterranean version of Chipotle, went public in June. AdvertisementAdvertisementNewly minted Wall Street darling Cava is a fast-casual chain that sells grain bowls and pitas in an assembly-style format. Rival Sweetgreen, whose shares have plummeted since the company went public in 2021, sells premium salads and warm bowls. It's about two miles from a Cava restaurant in Orange County, the home base of top fast-food brands such as Chipotle and Taco Bell. So, I decided to try the two chains to see why they have such a devoted following among Gen Y and Gen Z consumers.

Persons: —, Sweetgreen, Taco, I've, Gen Y Organizations: Service, Taco Bell, Tender Greens Locations: Los Angeles, Naperville , Illinois, Cava, Tustin , California, Orange County, Base

We are growing but nowhere near fast enough," said Ben Blackwell, CEO of the Global Wind Energy Council. In June, Siemens Gamesa said quality problems at its two most recent onshore wind turbines would cost 1.6 billion euros ($1.7 billion) to fix. "The ratio between risk and reward is out of line in the offshore wind market in many jurisdictions. You can see this from investors not showing up," the Global Wind Energy Council's Blackwell told Reuters. "The situation in U.S. offshore wind is severe," Orsted CEO Mads Nipper said last month.

Persons: Pascal, Jon Wallace, WindEurope, Markus Krebber, Germany's, Ben Blackwell, Rob West, Siemens Gamesa, Fraser McLachlan, McLachlan, Jochen Eickholt, Wallace, Energy Council's Blackwell, Denmark's Orsted, RWE's Krebber, Joe Biden's, Mads Nipper, Nina Chestney, Nichola Groom, Christoph Steitz, Nora Buli, Francesca Landini, Toby Sterling, David Clarke Organizations: REUTERS, Rights, European, Jupiter Asset Management, EU, Shell, Siemens, LinkedIn, Wind Energy, Thunder Said Energy, GCube Insurance, Bloomberg New Energy Finance, Energy, Reuters, European Commission, Thomson Locations: Le Havre, Normandy, France, European Union, Britain, Netherlands, Norway, Ukraine, Jupiter, U.S, Los Angeles, Frankfurt, Milan, Amsterdam

☆ The US dollar and Argentine peso could exist side by side, says rival to presidential frontrunner Milei
▼ + stars: | 2023-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Argentine presidential candidate Patricia Bullrich wants both the dollar and peso to be official currencies. This represents a different take versus full dollarization, a policy advocated by frontrunner Javier Milei. "The peso and the dollar will coexist," Carlos Melconian, her chief economic advisor, said at the Bloomberg Economic Summit in Buenos Aires. "There will be a complementary exchange rate regime that will be step by step, and will take inflation into account." "There is going to be very severe and prudent macroeconomic policy in Argentina," Melconian said, according to Bloomberg.

Persons: Patricia Bullrich, Javier Milei, Bullrich, —, Milei, Carlos Melconian, Melconian Organizations: Argentine, Service, US greenback, Bloomberg Economic Summit, Bloomberg Locations: Buenos Aires, Argentina

Cinven this month signed an accord with GIC, Singapore's sovereign fund, and another two investors to purchase from them 140 million euros of Tier2 Eurovita bonds, the source added. Cinven, which acquired Eurovita in 2017, also launched a tender offer to buy back another 20 million euros of bonds from investors including Italian financial institutions, so that only around 9 million remain outstanding, the source said. Italian insurance authorities placed Eurovita under special administration this year, the first time they have taken such a step, after rising rates blew a hole in the life insurer's cash reserves. Instead, Cinven was asked to carry out the debt buyback and cancel the bonds to support a solvent liquidation, one of the people added. Like other life insurers, especially those relying on banks to sell products, Eurovita was hit by early redemptions once rates started rising and savers sought better returns.

Persons: Matthew Childs, Cinven, Eurovita, Assicurazioni, Valentina Za, Emilio Parodi, Josie Kao Organizations: REUTERS, Reuters, GIC, Germany's Allianz, Allianz, Thomson Locations: London, Britain, Cinven

☆ Elon Musk might be the internet's worst boyfriend. At least that's what it seems like in his new biography.
▼ + stars: | 2023-09-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +8 min

"Elon and I were used to having big arguments in public," Musk's first wife, Justine Wilson, told Isaacson. AdvertisementAdvertisementWilson told Isaacson, the book's author, that Musk sometimes resorted to calling her "an idiot" or "moron" in arguments. Variety/Getty ImagesMeanwhile, Grimes told Isaacson that she feels the billionaire "associates love with being mean or abusive." "It was Elon's Asperger's coming out in full," Grimes told Isaacson. Musk's second wife, Talulah Riley, told Isaacson that when her close friend died, he flew to England to be with her.

Persons: Elon, it's, Grimes, Walter Isaacson's, Elon Musk, Tesla, Musk's, Justine Wilson, Isaacson, Wilson, Marie Claire, Musk, Claire Boucher, Amber Heard, Asperger's, I'd, he's, Talulah Riley, Mike Blake, Shivon, Zilis, X, Riley, Heard Organizations: Service, SpaceX, Variety, PayPal Locations: Wall, Silicon, Texas, Grimes, England

☆ Nintendo founder's YFO set to raise Toyo bid -source
▼ + stars: | 2023-09-25 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

It took about nine months for Toyo to form a special committee to assess YFO's offer, which YFO said acted against shareholders' interest. At an annual meeting in June, Toyo shareholders approved seven of nine directors backed by YFO, allowing these directors to form a majority of the board. It had been possible for YFO to hold talks with Toyo since the board reshuffle, the source said. YFO had already notified Toyo of its proposal and believes it could start a tender offer by late December, the source said. Expectations for a sweetened offer from YFO have in recent weeks boosted Toyo shares, which closed at 1,241 yen on Monday.

Persons: Yamauchi, Toyo, YFO, YFO's, Makiko Yamazaki, Alexander Smith Organizations: Japan's Toyo, Toyo, YFO, Thomson Locations: TOKYO

☆ The Year Lou Reed Gave Up on Music
▼ + stars: | 2023-09-22 | by ( Will Hermes | ) www.nytimes.com time to read: +1 min

Lou Reed strode onto the stage at Max’s Kansas City late on a Sunday night in August 1970. “We’re called the Velvet Underground. Danny Fields, a regular at Andy Warhol’s Factory who would soon discover the Ramones, was there, as he was virtually every night. Like Warhol, she was an obsessive taper, and had recorded a number of Velvets shows that summer. The tape would soon be passed around the underground and would eventually be released as an album — since Reed had decided this would be the last Velvet Underground show.

Persons: Lou Reed strode, “, ”, “ We’re, Sid, Toby Reed, Danny Fields, Andy Warhol’s, Brigid Berlin, Richard E, Brigid Polk, Warhol, Jim Carroll, Reed Organizations: Max’s Kansas City, Hearst Corporation, Sony Locations: Max’s, Long, Berlin

☆ Toshiba says $14 bln takeover bid by JIP succeeds, set to go private
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

TOKYO, Sept 21 (Reuters) - Toshiba (6502.T) said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success - a deal which paves the way for the embattled industrial conglomerate to go private. "Activist shareholders and Toshiba were stuck with each other for years. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid. Deals involving private equity have been particularly active, including a planned $6.4 billion buyout of materials maker JSR by a government-backed fund.

Persons: Travis Lundy, Taro Shimada, Androniki, Shimada, Lundy, JIP, Sony Group's, chipmaker Rohm, Makiko Yamazaki, Edwina Gibbs Organizations: Toshiba, Japan Industrial Partners, Quiddity Advisors, Toshiba Corporation, REUTERS, Sony, Chubu Electric Power, Thomson Locations: TOKYO, Kawasaki, Japan, Asia

☆ Toshiba says $14 bln takeover bid by JIP has succeeded
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The deal puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price offered, Toshiba argued that there was no prospect of a higher offer or competing bid. Although not well known overseas, JIP has been involved in corporate carve outs and spin offs from Japanese conglomerates, including Olympus' (7733.T) camera business and Sony Group's (6758.T) laptop computer business.

Persons: Androniki, Taro Shimada, JIP, Sony Group's, Shimada, chipmaker Rohm, Makiko Yamazaki, Christopher Cushing, Edwina Gibbs Organizations: Toshiba Corporation, REUTERS, Rights, Toshiba, Japan Industrial Partners, Olympus, Sony, Chubu Electric Power, Thomson Locations: Kawasaki, Japan

☆ Toshiba is set to delist in Japan after 74 years as part of $14 billion deal
▼ + stars: | 2023-09-21 | by ( ) edition.cnn.com time to read: +3 min

Tokyo Reuters —Toshiba said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success — a deal which paves the way for the embattled industrial conglomerate to go private. The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid. It will mark the largest M&A deal in Japan this year.

Persons: —, ”, Travis Lundy, Taro Shimada, Toshiba “, Shimada, “, ” Lundy, JIP, chipmaker Rohm Organizations: Tokyo Reuters, Toshiba, Japan Industrial Partners, “, Quiddity Advisors, ” Toshiba, Sony, Chubu Electric Power Locations: Tokyo, Orix, Japan, Asia

Summary Egypt seeking cheaper wheat amid dollar crunchRussia blocked deal that undercut price floor- tradersCAIRO, Sept 21 (Reuters) - Egypt is in talks with an Abu Dhabi-based bank for a loan facility that would finance wheat purchases from Kazakhstan, three traders told Reuters. The move could give Egypt a cheap alternative to grain from Russia, which has supplied an increasing share of Egypt's wheat since last year but recently blocked a deal for a purchase below an unofficial price floor for wheat purchases, traders say. Russia's agriculture ministry recently prevented the private sale of 480,000 tons of Russian wheat to Egypt, apparently because it was sold below the price floor, traders told Reuters. Kazakhstan is already an approved wheat import origin for Egypt, but purchases from the Central Asian country are rare. The Egyptian government recently signed a $500 million loan agreement with the Abu Dhabi Exports Office (ADEX) to buy imported wheat from UAE-based agribusiness Al Dahra.

Persons: Abu, GASC, Sarah El Safty, Michael Hogan, Aidan Lewis, Mark Potter Organizations: Reuters, General Authority for Supply Commodities, Central, Abu, Abu Dhabi Exports Office, Thomson Locations: Egypt, Russia, CAIRO, Abu Dhabi, Kazakhstan, Ukraine, France, Bulgaria, UAE

1 Scottie Scheffler, were not even born the last time the Americans won a Ryder Cup on European soil. That was in 1993 at The Belfry, when Ryder Cup rookie Davis Love III made the cup-clinching putt. “I think one of the great accomplishments in our game now is to win an away Ryder Cup,” Rory McIlroy said. The PGA of America runs the Ryder Cup — not the tour — though the only access to Ryder Cup points for Americans was the majors. Missing from the European team for the first time since 1997 is Sergio Garcia, the leading scorer in Ryder Cup history.

Persons: Jordan Spieth, ”, Tommy Fleetwood of, Xander Schauffele’s, ’ ” Fleetwood, Marco Simone, LIV, Brooks Koepka, Scottie Scheffler, Davis Love, “, ” Scheffler, Tiger Woods, Phil Mickelson, Spieth, Dustin Johnson, we’ve, Zach Johnson, ” Rory McIlroy, it’s, ” McIlroy, —, Johnson, “ He’s, ” Johnson, Koepka, Henrik Stenson, Luke Donald, Ian Poulter, Sergio Garcia, Jon Rahm, Garcia, Donald, Nicolai Hojgaard, Ludvig Aberg, McIlroy, ” Marco Simone, ___ Organizations: Ryder, Team USA, U.S ., of Fame, U.S, ’, America, LIV, Europe, Valderrama, K Locations: Rome, Europe, Whistling Straits, Wisconsin, Saudi, U.S, France, Spain, Northern Ireland, Denmark, European, Ireland

Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The Fed held its main interest rate steady at its highest level in more than two decades, as was expected. Wednesday on Wall Street, the S&P 500 fell 0.9% to 4,402.20. Shares of Klaviyo, which helps advertisers market over email and text messaging, rose 9.2% in their first day of trading.

Persons: Jerome Powell, it’s, ” Anderson Alves, ActivTrades, Hang Seng, Australia's, Grant Robertson, Fonterra, Powell, ” Powell, Instacart, Brent, Nick Perry Organizations: Federal Reserve, Fed, Nikkei, Toshiba Corp, Statistics New, Finance, Zealand, Dow Jones, Nasdaq, Treasury, Big Tech, Microsoft, Apple, Nvidia, Arm Holdings, New York Mercantile Exchange, U.S Locations: U.S, Shanghai, Seoul, Statistics New Zealand, China, Wellington , New Zealand

☆ JIP gains 78.65% stake in Toshiba through tender offer
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: 1 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - A consortium led by private equity firm Japan Industrial Partners (JIP) acquired 78.65% of Toshiba (6502.T) through a tender offer, the company said, coming a step closer to completing the $14 billion deal to take the company private. Ownership of more than a two-third majority would be enough for the JIP group to squeeze out remaining shareholders. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm. Reporting by Makiko Yamazaki; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Makiko Yamazaki, Kim Coghill Organizations: Toshiba Corporation, REUTERS, Rights, Japan Industrial Partners, Toshiba, Thomson Locations: Kawasaki, Japan

☆ Tender photos reveal the quiet intimacy of an English country garden
▼ + stars: | 2023-09-20 | by ( Suyin Haynes | ) edition.cnn.com time to read: +6 min

But British photographer Siân Davey wanted to make something different. Davey's garden, the backdrop for the series, became a sanctuary during coronavirus lockdown mandates in the UK. Courtesy Siân Davey Davey/Michael Hoppen Gallery London“The Garden” is currently shortlisted for the Prix Pictet — an international photography prize highlighting work on themes connected to sustainability. Courtesy Siân Davey Davey/Michael Hoppen Gallery LondonFor Davey and her son, the project was as much about intention and process as it was about making the photographs. Courtesy Siân Davey Davey/Michael Hoppen Gallery LondonCreating the garden then, has been a way to create a deeper relationship between the people photographed and the earth.

Persons: Siân Davey, “ I’m, ”, “ It’s, Sian Davey, Michael Hoppen Galler, ” Davey, Luke, Davey, Siân Davey Davey, Michael Hoppen, —, Alice ”, Down’s, Martha ”, Roland, Davey’s, “ Organizations: CNN, London, Prix, Michael Hoppen Gallery, Dartington Hall, Victoria, Albert Museum Locations: Devon, England, Michael Hoppen Gallery London, London

☆ JIP says $14 bln tender offer for Toshiba set to succeed
▼ + stars: | 2023-09-20 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 20 (Reuters) - A $14 billion tender offer to take Toshiba (6502.T) private is set to succeed, private equity firm Japan Industrial Partners (JIP) said on Wednesday, clearing the way for Japan's biggest deal this year. JIP's tender offer, which closed on Wednesday, ends Toshiba's 74-year history as a listed firm and puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. "It is forecasted that the tender offer will be successful," JIP said in a statement, suggesting that at least two-thirds of shareholders have tendered their shares. The final results of the tender offer will be announced once they are finalised, JIP added. Now that JIP has gained a two-third majority, the remaining shareholders would be squeezed out upon a vote at a planned emergency shareholder meeting.

Persons: Androniki, JIP, JIP's, LSEG, Makiko Yamazaki, Louise Heavens, Sharon Singleton Organizations: Toshiba Corporation, REUTERS, Rights, Toshiba, Japan Industrial Partners, Japan's, Effissimo Capital Management, Tokyo, Thomson Locations: Kawasaki, Japan, Asia

☆ The de-dollarization drive is spreading wider - Indonesia is the latest nation to join the anti-buck movement
▼ + stars: | 2023-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Indonesia appears to be the latest country to jump on the de-dollarization bandwagon. The island nation has launched a National Task Force to promote local-currency transactions. The move is expected to help make the rupiah more stable, and support local financial markets, Bank Indonesia said. The island nation has announced it's formed a National Task Force to widen the use of local currency transactions (LCT) with partner countries, according to Indonesia's central bank. While some experts perceive de-dollarization efforts as a threat to the greenback, others have dismissed the movement as a nothingburger.

Persons: it's, Perry Warjiyo, Vladimir Putin Organizations: Force, Bank, Service, Bank Indonesia Locations: Indonesia, Bank Indonesia, Wall, Silicon, China, Russia, India, dollarization, Beijing, New Delhi, Zimbabwe

☆ Toshiba wins shareholder support for JIP's $14 bln takeover offer
▼ + stars: | 2023-09-20 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - A consortium led by private equity firm Japan Industrial Partners (JIP) gained 78.65% of Toshiba (6502.T) through a tender offer, Toshiba said, coming a step closer to completing a $14 billion deal to take the company private. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm. Toshiba "will now take a major step toward a new future with a new shareholder". Since 2015, Toshiba has been battered by accounting scandals, suffered heavy loss and came close to being delisted.

Persons: Androniki, JIP, chipmaker Rohm, Taro Shimada, Makiko Yamazaki, Kim Coghill, Christopher Cushing Organizations: Toshiba Corporation, REUTERS, Rights, Japan Industrial Partners, Toshiba, Thomson Locations: Kawasaki, Japan

☆ De-dollarization would require governments to sever political and economic ties with US
▼ + stars: | 2023-09-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The dollar's dominance is sticky, political scientist Carla Norrlöf wrote in Project Syndicate. A de-dollarization collective is also unlikely as countries could lose access to the US security guarantee, Norrlöf said. "Governments would need to sever economic and political ties to the US. A de-dollarization collective is also unlikely as countries would lose access to the US security guarantee, Norrlöf said. Even governments who are not direct beneficiaries of American defense would hesitate to worsen relations with the US, a leading military power.

Persons: Carla Norrlöf, Norrlöf Organizations: Project Syndicate, Service, University of Toronto, Atlantic Council, greenback Locations: Wall, Silicon, China, Russia

Search resuls for: "Tender"

25 mentions found