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☆ Kokusai Electric shares pop 32% on Tokyo debut
▼ + stars: | 2023-10-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

In this photo illustration, Kokusai Electric logo is seen on a smartphone screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty ImagesShares of Japanese semiconductor equipment maker Kokusai Electric saw a strong debut on the Tokyo Stock Exchange on Wednesday. Kokusai Electric is a spin-off from Hitachi Kokusai Electric, a subsidiary of Japanese multinational electronics company Hitachi. He said Kokusai Electric may not be as competitive as its rivals Tokyo Electron or Lasertec , which dominate niche markets in the semiconductor production process. He said applications such as artificial intelligence use logic chips instead of memory chips, which are used in smartphones.

Persons: Pavlo Gonchar, Mio Kato, CNBC's, Mio Kato Lightstream, Kato Organizations: Getty, Kokusai, Tokyo Stock Exchange, Japan Times, Hitachi Kokusai, Hitachi, KKR, Lightstream Research, Tokyo

☆ KKR’s Chip Play Will Win Big in Japan
▼ + stars: | 2023-10-24 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Kokusai Electric’s technology and manufacturing center in Toyama, Japan. Photo: Soichiro Koriyama/Bloomberg NewsPrivate-equity giant KKR has scored a win in Japan, and with a chip price rebound probably around the corner, their timing looks impeccable. Semiconductor equipment maker Kokusai Electric will start trading Wednesday in Tokyo after raising around $720 million in an initial public offering last week. Kokusai is valued at $2.8 billion at its IPO price, potentially netting KKR a return of more than 60% in Japanese yen terms, excluding leverage. Kokusai unloaded its video and communications systems business after KKR’s takeover.

Persons: Soichiro Koriyama Organizations: Bloomberg, Private, KKR, Semiconductor, Kokusai, Dealogic, Hitachi — Locations: Toyama, Japan, Tokyo

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last month. The EU competition watchdog and Hitachi declined to comment. The UK's competition agency cleared the deal this month after Hitachi pledged to sell its mainline signalling business in the United Kingdom, France, and Germany. ($1 = 0.9478 euros)Reporting by Foo Yun Chee; editing by Mark Potter and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee, Mark Potter, Jason Neely Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow BRUSSELS, European, EU, Thomson Locations: Zurich, Switzerland, France, Germany, United Kingdom

☆ Japan's Denso, Mitsubishi Electric to invest $1 bln in Coherent's silicon carbide unit
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

A logo of Mitsubishi Electric Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsOct 10 (Reuters) - Coherent (COHR.N), a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan's Denso (6902.T) and Mitsubishi Electric (6503.T) will invest $1 billion in the company's silicon carbide business. Denso and Mitsubishi Electric will invest $500 million each in exchange for a 12.5% non-controlling ownership interest in Coherent's unit, as per the agreement. The investment would alleviate the financial burden for Coherent, which had explored strategic review of its silicon carbide business in May. Chips made with silicon carbide are used in applications that require massive quantity of power conversion such as inverters and drivetrains in electric vehicles.

Persons: Toru Hanai, Denso, Takemi, Priyamvada, Sherry Jacob, Phillips Organizations: Mitsubishi Electric Corp, Advanced Technologies, Makuhari, REUTERS, Mitsubishi Electric, Mitsubishi, Reuters, Hitachi Ltd, Sumitomo Electric Industries Inc, Thomson Locations: JAPAN, Chiba, Japan, U.S, Pittsburgh , Pennsylvania, Bengaluru

☆ Forget the U.S: Pros say another top market looks cheap and offers the 'best' opportunities
▼ + stars: | 2023-10-09 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Attractive returns and the breadth of opportunities are among the many reasons the U.S. has long reigned supreme for investors. In terms of countries, Japan looks to offer the best combination of earnings growth, cheap valuations and policy support," Tom Stevenson, investment director at Fidelity International, told CNBC Pro. "Japanese shares are trading on around 15 times this year's expected earnings and 14 times earnings two years out," he said. "There has been some increase in this multiple during the recent rally in Japanese shares, but they remain relatively cheap compared to the U.S. which trades on around 20 times earnings." Among his choices is the Baillie Gifford Japanese Fund, which he describes as a "growth-focused fund run by an experienced manager."

Persons: Tom Stevenson, Daniel Hurley, Rowe Price, Stevenson, TRP's Hurley, Fidelity's Stevenson, Hurley, Baillie Gifford Organizations: Fidelity International, CNBC, CNBC Pro, Japan, Tokyo Exchange Group, Stock, Japan's, Bank of Japan, Sony, Astella Pharmaceuticals, Fund, Schroder Japan Trust, SoftBank, SBI Holdings, Hitachi, Nippon Gas, Toyota, Japan IMI Locations: Japan, U.S

☆ HS2: Britain's high-speed rail fiasco reflects grim economic reality
▼ + stars: | 2023-10-05 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

“Our plan will drive far more growth and opportunity here in the north than a faster train to London ever would,” he said Wednesday. Some of the alternatives Sunak highlighted were predicated on the delivery of HS2, said Henrietta Bailey, CEO of Greater Birmingham Chambers of Commerce. “This is the biggest and most damaging U-turn in the history of UK infrastructure,” the High Speed Rail Group, which represents companies such as Siemens, Hitachi and Bombardier, said in a statement. “The decision … sends a hugely disappointing message about our commitment to completing major infrastructure projects in the UK,” said Stephen Phipson, chief executive of Make UK, which represents manufacturing firms. The country must hope that his latest policy reversal doesn’t deter investors and further undermine a struggling UK economy, perpetuating a doom-loop of weak growth and underinvestment.

Persons: Rishi Sunak, Sunak, ”, Henrietta Bailey, Stephen Phipson, Mark Allen, ” Sunak, —, Liz Truss, he’s, Sunak blinked, James Mason, ” — Hanna Ziady Organizations: London CNN —, Leeds, Birmingham Chambers of Commerce, HS2 —, Conservative, Speed Rail Group, Siemens, Hitachi, Bombardier, Make, Investors, Treasury, Business Locations: England, United Kingdom, London, Germany, France, Italy, China, Japan, Edinburgh, Birmingham, Manchester, Britain, West, North Yorkshire

☆ Asia's edge isn't just cheap labor, whether it's China, India or Japan, KKR says
▼ + stars: | 2023-10-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note. That investment conclusion comes after a recent trip to Singapore, China and Japan by New York-based Henry H. McVey, chief investment officer of KKR Balance Sheet. "The bid for infrastructure and logistics could accelerate even more meaningfully, we believe, in key markets such as India, China, Indonesia, the Philippines, Vietnam and even Japan," the KKR report said. That includes a $2 billion acquisition of a Mitsubishi-backed real estate manager in spring 2022.watch now"I think there are two big megathemes in Japan," KKR's McVey said in an interview Thursday. The other big trend in Japan, McVey said, is corporate reform that's boosting shareholder returns.

Persons: Henry H, McVey, Frances Lim, KKR's McVey, Fumio, haven't, Warren Buffett, Lim didn't, There's, Nisha Awasthi, Lim Organizations: Visual China, Getty, BEIJING, KKR, Mitsubishi, Hitachi Transport System, Logisteed, Hyatt Regency, Gaw Capital Partners, Wednesday, China Locations: China, Haikou, Hainan, India, Japan, Asia, Singapore, New York, Indonesia, Philippines, Vietnam, Hyatt Regency Tokyo, Gurugram, BlackRock, Mumbai, Pacific, Beijing, Hong Kong, Seoul, Shanghai, Sydney, Tokyo

The investment would alleviate the financial burden for Coherent, which has said it will invest $1 billion over the next 10 years to expand its production of silicon carbide wafers, which help boost the range of electric vehicles more than chips made with traditional silicon. Denso Corp (6902.T), Hitachi Ltd (6501.T), Mitsubishi Electric Corp (6503.T) and Sumitomo Electric Industries Inc (5802.T) have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent may accept more than one of these companies as investors in the silicon carbide division at a valuation of between $4 billion and $5 billion, the source added, requesting anonymity because the matter is confidential. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Chips made with silicon carbide are used in applications that require huge amounts of power conversion, such as inverters and drivetrains in electric vehicles.

Persons: Chips, Milana Vinn, Andrea Ricci Organizations: Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp, Sumitomo Electric Industries Inc, Thomson Locations: U.S, Pittsburgh , Pennsylvania, China, New York

At Kokusai's indicative price of 1,890 yen per share, the company will offer 111.2 billion yen ($749.88 million) worth of shares and have a market value of 435.5 billion yen. A successful listing would follow the blockbuster New York IPO of SoftBank-owned chip designer Arm , which investors hoped would lead to a wave of stock market launches. IPO activity has remained strong in Japan, where the stock market is at 33-year highs and interest rates ultra low. Kokusai reported operating profit fell by a fifth to 56 billion yen in the year ended March compared to the same period a year earlier. Sales were roughly flat at 245.7 billion yen.

Persons: Miho Uranaka, Kokusai, chipmaker TSMC, TW, Sam Nussey, Makiko Yamazaki, Christopher Cushing Organizations: REUTERS, KKR, Materials, Kokusai, Tokyo Stock Exchange, Industry, Reuters, Marelli Holdings, Thomson Locations: Tokyo, Japan, TOKYO, China, York

The Japanese conglomerate put in its offer to the European Commission on Thursday, the same day it requested EU clearance for the deal, an EU regulatory filing showed on Friday. The EU competition enforcer, which set a Nov. 6 deadline for its decision, did not provide details of the remedies in line with its policy. The company had sought EU approval in October last year but withdrew its application a month later. The deal underscores the consolidation in the rail industry, with independent players teaming up with bigger industrial groups. The Competition and Markets Authority (CMA) in August narrowed its concerns, saying the deal would not substantially lessen competition in the supply of communications-based train control signalling systems in the UK.

Persons: Arnd, Foo Yun Chee, David Evans, Louise Heavens Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow, European, UK Competition, Markets Authority, EU, Thomson Locations: Zurich, Switzerland, France, Germany

☆ Hitachi's EU remedies on Thales deal similar to UK remedies, source says
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsCompanies Hitachi Ltd FollowThales SA FollowBRUSSELS, Sept 15 (Reuters) - Hitachi's (6501.T) remedies to EU antitrust regulators assessing its proposed 1.7-billion-euro ($1.8 billion) buy of French infrastructure company Thales' (TCFP.PA) rail signal business are similar to those offered to the UK competition agency, a person with direct knowledge of the matter told Reuters on Friday. Hitachi told the UK Competition and Markets Authority in June that it was ready to divest its UK, French and German mainline signaling business and transfer its core communication-based train control technology to a rival. It had said that these assets comprise all the elements needed for a viable, standalone business. ($1 = 0.9376 euros)Reporting by Foo Yun CheeOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Foo Yun Chee Organizations: Hitachi, REUTERS, Companies Hitachi Ltd, Thales, Follow, Reuters, Competition, Markets Authority, Thomson Locations: Zurich, Switzerland

A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. The central bank would take time to determine whether it can raise interest rates as it waits for evidence that a sustained economic recovery will eradicate Japan's deflationary mindset, he said. "The key is for the economy to keep recovering," Nakamura told a news conference, when asked about the conditions for ending negative interest rates. We therefore need more time before shifting to monetary tightening," he said, adding the key was to determine whether companies' growth expectations were heightening. Markets are divided on whether the BOJ could remove the yield cap before raising short-term rates, ditch both simultaneously, or keep the yield cap when ending negative rates as a precaution against an abrupt rise in long-term yields.

Persons: Issei Kato, Nakamura, Toyoaki Nakamura, Japan's, we're, Naoki Tamura, Kazuo Ueda, Leika Kihara, Christian Schmollinger, Navaratnam, Gerry Doyle Organizations: Bank of Japan, REUTERS, Hitachi Ltd, Thomson Locations: Tokyo, Japan, GIFU, Gifu

☆ BOJ policymaker Nakamura warns against premature monetary tightening
▼ + stars: | 2023-08-31 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Tightening monetary policy before rising prices are accompanied by higher wages would hurt domestic demand and corporate profits, Nakamura said. We therefore need more time before shifting to monetary tightening," Nakamura said in a speech to business leaders in the city of Gifu in central Japan. "Close scrutiny of (economic) conditions and cautious decision-making are required when modifying monetary policy," he said, warning against shifting policy too hastily. Governor Kazuo Ueda has said the BOJ must maintain ultra-low rates until there is more evidence that Japan's inflation can sustainably hit 2% backed by solid consumption and wage growth. Reporting by Leika Kihara; Editing by Christian Schmollinger and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Nakamura, Toyoaki Nakamura, Naoki Tamura, Kazuo Ueda, Leika Kihara, Christian Schmollinger Organizations: Bank of Japan, REUTERS, Nakamura Overseas, Hitachi Ltd, Thomson Locations: Tokyo, Japan, Gifu

☆ Brands can no longer have two different personas, says Hitachi CMO Monica Kumar
▼ + stars: | 2023-07-03 | by ( Will Wei | ) www.businessinsider.com time to read: 1 min

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☆ Japan launches Prime 150 stocks benchmark to help investors identify value
▼ + stars: | 2023-07-03 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Japan launched a new stock index on Monday, making it easier for investors to identify corporate value in the equity markets, in a move to strengthen corporate governance reforms in the world's third-largest economy. The new JPX Prime 150 Index is a curated list of the 150 constituent listings on the Tokyo Exchange, which includes the likes of tech giants like Sony Group , Hitachi , Nintendo and Warren Buffet-backed trading houses Marubeni , Itochu and Mitsui & Co . The index excludes automakers such as Toyota Motor and Nissan Motor . "Increasing the value of listed companies is essential for the expansion and revitalization of the market," Takahiro Miura, Japan Exchange Group's market innovation and research director of index business, told CNBC Monday. The Prime 150 index constitutes about half of the Japan stock market and are of similar quality to the S&P 500, Miura said.

Persons: Warren Buffet, Takahiro Miura, Miura Organizations: Tokyo, Sony Group, Hitachi, Nintendo, Mitsui & Co, Toyota Motor, Nissan, Japan Exchange, CNBC Locations: Japan, Itochu

☆ The US stock market rally is unsustainable, but making these 20 international investments can lead to long-term profits, according to 3 fund managers with over $43 billion in combined assets
▼ + stars: | 2023-06-30 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

International stocks have underperformed for over a decade, while US growth names took off. However, foreign companies have attractive relative valuations and earnings growth. Why foreign stocks are more than just a good dealAnyone bullish on international stocks will almost always point to their valuations relative to US companies. Investors can get downside protection in this uncertain environment by buying international stocks that are high quality and can generate their own growth, Deladerriere said. And in addition to their rising earnings growth, the fund manager noted that the two pay sizable dividends.

Persons: they've, Nick Paul, Paul, Steve Gorham, who's, Gorham, Wes Crill, Crill, isn't, Alexis Deladerriere, Deladerriere, there's, Goldman, haven't, He's, it's Organizations: MFS Investment Management, Value, Vanguard, Index, Yahoo Finance, Dimensional Fund Advisors, Fund, Goldman Sachs International Equity Income, Goldman, Asset Management, Goldman Sachs, Management, HSBC, BNP, Schneider, MFS, Hitachi Locations: Europe, Asia, BlackRock, weightings, Gorham, Japan, London, Paris, Spanish, Ukraine, France, Australia, Taiwan

☆ The first battery-powered trains have arrived in Europe
▼ + stars: | 2023-06-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +3 min

Enter Europe’s first battery-powered trains. In Calabria, the trains are running on the Ionian Coast, while Sicilian routes include Messina to Palermo and Messina-Catania-Syracuse. “It is the first time that batteries are used as the main energy source on a fleet of trains for commercial use in Europe,” Trenitalia said in a statement. The fleet – made with 93% recyclable materials – will cut carbon emissions and fuel consumption by 50% versus diesel trains, Hitachi said in a statement. A battery-powered futureThe trains are running in several regions of Italy.

Persons: ”, ” Trenitalia Organizations: CNN, Hitachi, Friuli Venezia Giulia, Catania, Hitachi Rail Locations: Italy, Calabria, Lazio, Tuscany, Sicily, Sardinia, Messina, Palermo, Syracuse, Europe

☆ Japan signed a critical minerals deal with the U.S. — but it's still losing the global EV race
▼ + stars: | 2023-06-20 | by ( Audrey Wan | ) www.cnbc.com time to read: +4 min

Tokyo in March signed the U.S.-Japan Critical Minerals Agreement, securing both countries' commitment to strengthen supply chains and promote EV battery technologies. Notably, the deal allows minerals from Japan to meet sourcing requirements for U.S. electric vehicle tax credits, unlocking up to $7,500 per vehicle. The critical minerals agreement was "negotiated in warp-speed time" when similar deals "usually take years," David Boling, Eurasia Group director for Japan and Asian trade, told CNBC. Hybrid EVs still account for 96.8% of new EV sales in the country, according to the Japan Automobile Dealers Association. EV supply chain strainJapan depends on China for critical minerals essential to the production of EV components.

Persons: Yasuhide Mizuno, Kiyoshi Ota, David Boling, Boling, Eurasia's, BEV, China's, Kristin Vekasi Organizations: Sony Honda Mobility, Sony, Bloomberg, Getty, Japan, U.S, U.S ., EV, Eurasia Group, CNBC, U.S . Trade, Honda, Toyota, Nissan, Japan Automobile Dealers Association, International Energy Agency, Argonne National Laboratory, IEA, University of Maine, Hitachi Metals, Nikkei Locations: Tokyo, Japan, U.S, China, Nikkei Asia

☆ Japan optimism has been fueled by 'game-changing' reforms and Warren Buffett: Here's what you need to know
▼ + stars: | 2023-06-13 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

The Tokyo Exchange Group recently finalized its market restructuring rules. Warren Buffett's bullish calls on Japanese equities has also helped boost confidence among foreign investors. It could in turn lead to a domino effect among other Japanese companies once the big players start to make changes. Corporate governance is the "third arrow" of the three core tenets of Abenomics — monetary easing and fiscal stimulus are the other two. Buffett's May disclosures helped spur 10 straight weeks of net foreign purchases of Japanese equities.

Persons: Richard A, Brooks, Oliver Lee, Warren Buffett's bullish, —, Yunosuke Ikeda, Nomura's Ikeda, Shinzo Abe, Warren, Berkshire, Asli, Shuntaro Takeuchi, Matthews Asia, Buffett, Berkshire Hathaway, that's, Matthews Asia's Takeuchi, We're, Oliver Lee Eastspring, Eastspring's Lee Organizations: Afp, Getty, Nikkei, Tokyo Stock Exchange, Tokyo Exchange Group, CNBC, Tokyo bourse, Berkshire Hathaway, Kyoto, Investing, Buffett, Foreigners, Japan Ministry of Finance, Kyoto University's Graduate School of Management, Graduate School of Economics, Mitsui & Co, Hitachi Locations: Japan, Tokyo, Singapore, Abenomics, San Francisco

☆ Japan's Hitachi Astemo flags lapses in quality tests over decades
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

The comments come in the wake of news last month that Toyota affiliate Daihatsu rigged safety tests for 88,000 small cars. Hitachi Astemo, which makes car and railway parts ranging from brake and damping systems to powertrains, worked with customers to redo tests on nearly 24 affected products following an investigation, Chief Executive Brice Koch told reporters. "We have now taken all the relevant measures to improve, to increase the robustness of our system and our company," Koch said, saying he did not expect any impact on growth or costs. The issues included reporting periodic test results to customers without running the actual tests on some products. Employees also ran tests on suspension systems at incorrect temperatures, a spokesperson said.

☆ Japan Display forms alliance with China's HKC on chip fabs, auto displays
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 10 (Reuters) - Japan Display Inc (6740.T) said on Monday it has formed an alliance with China's HKC Corporation Ltd (HKC) to cooperate on next-generation OLED technology, chip fabrication, and auto displays, sending the Japanese company's shares 10.5% higher. Japan Display and HKC will jointly plan and build fabs using Japan Display's eLEAP OLED technology, targeting mass production in 2025, the Japanese company said. Japan Display is planning more than one plant under the alliance with HKC, Chief Executive Scott Callon told a briefing, adding the tie-up would bring together Japan Display's technology and HKC's cost competitiveness. Japan Display, a maker of phone and computer displays, is on a restructuring drive to turn around its struggling businesses. Japan Display was formed in 2012 when the LCD businesses of Hitachi Ltd (6501.T), Toshiba Corp (6502.T) and Sony Corp (6758.T) merged in a government-brokered deal.

☆ London's FTSE 100 up for fourth day, Petrofac leads smallcaps higher
▼ + stars: | 2023-03-30 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The FTSE 100 (.FTSE) rose 0.5%, while the FTSE 250 (.FTMC) added 1.1% by 0841 GMT. With a day left for the end of the first quarter of the year, the FTSE 100 is on track for gains of 2%, while the mid-cap index is likely to have a muted end. Top performing sectors this quarter include the FTSE 350 aerospace and defence (.FTNMX502010), construction and materials (.FTNMX501010) and retailers (.FTNMX404010). The FTSE 350 Automobiles and Parts sector (.FTNMX401010) added 2.5% and is among top-performing sectors this quarter. Moonpig Group PLC (MOONM.L) added 17.9% after the online card retailer said it expects revenue to expand across 2024.

☆ TenneT awards $25 bln in contracts to build North Sea-to-shore connections
▼ + stars: | 2023-03-30 | by ( Tosterling Muhammed Husain | Muhammed Husain | ) www.reuters.com time to read: +2 min

AMSTERDAM, March 30 (Reuters) - Dutch state-owned electric grid company TenneT (IPO-TTH.AS) has awarded 11 contracts worth a combined 23 billion euros ($25 billion) to build systems connecting wind farms in the North Sea to shore, it said on Thursday. The contracts are being awarded to consortia led by Hitachi Energy and by General Electric, and caused shares in Petrofac (PFC.L), part of the Hitachi group, to spike as much as 73%. TenneT is spending tens of billions of euros over the next decade to connect North Sea wind farms to the electric grid in Germany and the Netherlands. The other consortium of Hitachi Energy (6501.T) and London-based Petrofac Ltd said it had signed a 13 billion euro agreement for six projects. The Dutch and German governments are in talks for Germany to buy TenneT's German operations in light of the company's massive investment needs, estimated at over 100 billion euros in the coming decade.

☆ China Development Forum: Li Qiang rolls out the welcome wagon for foreign companies
▼ + stars: | 2023-03-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“China’s economy has been deeply integrated into the global division of labor.”Li pledged that the country will align with international economic and trade rules, give equal treatment to foreign investment and facilitate trade and investment by removing government controls. Worries about foreign investmentConcerns about foreign capital leaving China have grown. To boost business confidence, China’s new economic leadership is trying to reassure foreign business and the domestic private sector. “You are not foreigners, but family,” Wang Wentao, the commerce minister, told attendees at the China Development Forum. In a meeting with Cook on Monday, he said China is willing to “provide a good environment and services” for foreign enterprises including Apple.

☆ These 74 stocks across 5 categories of AI are the top picks from the sector's leading fund managers.
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

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