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A Midea company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song/File PhotoAug 9 (Reuters) - Chinese home appliance maker Midea Group (000333.SZ) said on Wednesday it is studying a potential listing in Hong Kong as part of its global strategy. The new shares to be issued would account for no more than 10% of enlarged capital, Midea, already listed in the Shenzhen stock exchange, said in a filing. Midea's market capitalisation was $56.47 billion before the listing plan was made public, meaning a deal of up to 10% would be one of the largest listings in Hong Kong since 2021. The initial filing to the Hong Kong Stock Exchange would be made this year, with a likely share sale sometime in 2024, one of the sources added.

Persons: Aly, Midea, Scott Murdoch, Roxanne Liu, Kane Wu, Jason Neely, Gerry Doyle Organizations: Appliance, Electronics, REUTERS, Midea, Bank of America, China International Capital Corp, HK, Hong Kong Stock Exchange, Thomson Locations: Shanghai, China, Hong Kong, Midea, Shenzhen, Sydney

☆ China's central bank to guide more financial resources to support private sector
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jason Lee/File PhotoBEIJING, Aug 3 (Reuters) - China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens. During a meeting on Thursday with at least eight private firms from sectors including property, aluminium and agribusiness, the People's Bank of China (PBOC) Governor Pan Gongsheng said the bank would roll out guidelines to support private firms. Responding to some firms' requests of broadening bond financing channels, Pan said the central bank would expand debt financing tools for them. "Financial institutions should actively create a positive atmosphere to support the development and growth of private firms ... and increase willingness to lend." To revive confidence among private businesses, head of the economic planner also held several meetings with private firms last month to learn about their operation difficulties.

Persons: Pan, Jason Lee, Pan Gongsheng, Ellen Zhang, Ryan Woo, Ella Cao, Jon Boyle, Alison Williams Organizations: People's Bank of China, Congress, REUTERS, HK, China Hongqiao, Chint, Thomson Locations: Beijing China, BEIJING, Beijing, China, Hope

We're seeing great discounts on top air conditioner brands during the sale, including a few deals on picks from our guides to the best air conditioners and best portable air conditioners. We weeded through hundreds of Prime Day air conditioner deals remaining on day two to pull together these recommendations. The best Amazon Prime Day air conditioner dealsDeal icon An icon in the shape of a lightning bolt. Deal Midea MAW08V1QWT U Inverter Window Air Conditioner This unique air conditioner allows you to open your window when the AC is not in use to let in fresh air. Check out our guide to portable air conditioners versus window air conditioners for a more detailed breakdown.

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Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. $10.14 from Amazon Originally $25.00 Save 59%Prime Day deals: StyleWe've got you covered for head-to-toe deals across the fashion world today. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day. $12.99 from Amazon Originally $23.99 Save 46%More Prime Day dealsDeal icon An icon in the shape of a lightning bolt. You'll also get a bonus of $10 with this Prime Day deal when you use the code "HAPPY" and spend $50.

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Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.

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We're seeing great discounts on top air conditioner brands during the sale, including a few deals on picks from our guides to the best air conditioners and best portable air conditioners. We weeded through hundreds of Prime Day air conditioner deals to pull together these recommendations. While we haven't tested every air conditioner below we made sure to only highlight deals from reputable brands that we have hands-on experience with. The best Amazon Prime Day air conditioner dealsDeal icon An icon in the shape of a lightning bolt. Deal Midea MAW08V1QWT U Inverter Window Air Conditioner This unique air conditioner allows you to open your window when the AC is not in use to let in fresh air.

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☆ How Did the World’s Coolest Air Conditioner Get So Hot?
▼ + stars: | 2023-06-15 | by ( Ben Cohen | ) 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/best-air-conditioner-midea-window-u-shape-f0a246ed

Persons: Dow Jones

☆ How Vodafone-Three can woo competition regulators
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 4 (Reuters Breakingviews) - Vodafone (VOD.L) hopes that three will be its magic number. A merger of Vodafone’s domestic unit with Three UK, the Hong Kong conglomerate’s British business, would shrink the number of mobile operators to three from four. Mobile operators throughout Europe have long lamented antitrust authorities’ preference for keeping at least four players in a market to ensure price competition. Yet Vodafone’s case would be easier to defend if UK operators hadn’t hiked their tariffs in unison by about 11% last spring, a move they seem likely to repeat again this year. That would place the competition watchdog with a tougher choice: slick 5G networks, or four low-priced operators.

☆ UniCredit’s M&A hunt has more glitter than gold
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

The resulting improved valuations should in theory put the veteran dealmaker in a strong position to pounce on a rival. As Orcel pushed up earnings, UniCredit shares have recovered and their ratio with BPM is now back to where it was before the conflict. Still, the two lenders have diverged operationally: after a better-than-expected quarter UniCredit is now forecasting net earnings of over 6.5 billion euros in 2023, almost double the 3.9 billion euros it delivered in 2021. At 3 euros, its projected earnings per share this year are more than four times the 0.7 euros seen in 2021, Refinitiv data shows. (By Lisa Jucca)(Corrects to change “5.5 billion euros” to “over 6.5 billion euros” in paragraph three.)

☆ BNP only partly earns title of Europe’s JPMorgan
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 3 (Reuters Breakingviews) - Bank investors and analysts often like to say that BNP Paribas (BNPP.PA) is the closest Europe has to a JPMorgan (JPM.N), the goliath of U.S. banking that just bought First Republic Bank (FRC.N). Compare that with Deutsche Bank (DBKGn.DE), whose deposits fell by 4.7% over the same period. JPMorgan will earn a 19% return on tangible equity this year, using Visible Alpha consensus data, which is good even for a U.S. bank. There’s no shame in losing to a bigger stateside rival on returns, but BNP also risks falling behind regional peers. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ China’s Midea regains outbound deal appetite
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 2 (Reuters Breakingviews) - Midea (000333.SZ), a $58 billion Chinese white goods champion, made waves in Europe in 2016 when it bought German robot maker Kuka for nearly $5 billion. Seven years later, the company is eyeing Sweden’s home appliance brand Electrolux (ELUXb.ST), a complementary asset currently worth around $7 billion including debt. A successful tilt could mark the beginning of a revival in outbound M&A by Chinese firms after offshore deals touched a historic low of $29 billion in 2022, per EY estimates. To close the Kuka acquisition, Midea offered a 36% price premium and generous guarantees including leaving management in place until 2023. Nevertheless, it seems likely that more cash-rich Chinese companies like Midea, seeking to hedge weak domestic demand with overseas customers, will gingerly test cross-border M&A markets this year.

☆ BP’s strategy risks pleasing no one
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

Investors had cheered its February decision to walk back previously targeted 2030 oil and gas production cuts: BP’s shares rose 12% from Feb. 6 to Friday, compared with Shell’s (SHEL.L) 2%. BP’s shares subsequently fell 5% on Tuesday morning, wiping $6 billion off its market value, despite otherwise rosy earnings. Chief Financial Officer Murray Auchincloss pointed out that the decision was consistent with BP’s commitment to allocate 60% of 2023 surplus cash flow to share buybacks. CEO Bernard Looney is getting heat from both sides, with some investors pushing for faster decarbonisation and others willing him to pump more oil. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ DBS' safe profit haven nears its peak
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 2 (Reuters Breakingviews) - Top Singapore-based bank DBS (DBSM.SI) on Tuesday released first-quarter numbers that will make rivals envious. Expenses fell, meaning the bank used just 38% of its revenue to cover costs compared to 59% at JPMorgan (JPM.N). Net interest income already fell 1% last quarter from December. Meanwhile, as much as DBS still touts its status as a safe haven for those – especially rich Chinese people – who want to shield their money from trouble elsewhere, that advantage is also dimming. Absent other such calamities or Gupta being wrong about interest rates, this might be as good as it gets for DBS for now.

☆ The end of cheap credit could hurry Japanese M&A
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

Diversifying abroad looks attractive to many Japanese companies given weak home markets. The country's third-largest drugmaker by sales is paying a modest-looking 22% premium to Iveric's share price before the announcement. Analysts at Jefferies reckon those sales could top $85 million in its first year and peak at $2.4 billion annually by 2034. Regardless, even Warren Buffett has taken advantage of Japanese rates to funds deals inside Japan; domestic corporations looking abroad will as well. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Here’s Why This Clever Midea U-Shaped Air Conditioner Is a Professional Reviewer’s Favorite
▼ + stars: | 2023-04-10 | by ( ) www.wsj.com time to read: +4 min

By Liam McCabeEvery spring for five years, it was my job to test and review window air conditioners. When the Midea U-Shaped Air Conditioner arrived in 2020, seemingly out of nowhere, it upended everything I hated about this staid, stale category since I began my reviewer gig in the 2010s. For people who have to rely on window ACs to cool a scorching home, I’d argue that it’s the biggest summertime quality-of-life improvement in decades. The biggest advantage of the U-shaped Air Conditioner is it’s so much quieter than a typical window unit, thanks to its namesake, weird-looking chassis. It looks like a standard air conditioner has been split in two, with just a short band of plastic holding the halves together along their bottom edge.

☆ GE Healthcare Plans to Reduce Debt and Costs, Pursue Tuck-In Acquisitions
▼ + stars: | 2022-12-08 | by ( Nina Trentmann | ) www.wsj.com time to read: +5 min

As a stand-alone company, GE Healthcare will also look to improve its working capital and lower logistics costs, Mr. Zodl said. GE Healthcare will also take a look at its real estate holdings and target over 100 sites, executives said. Ratings firms S&P Global Ratings, Fitch Ratings and Moody’s Investors Service have all given GE Healthcare an investment-grade rating. PREVIEWApart from reducing debt and costs, GE Healthcare will scout for potential tuck-in acquisition targets, Chief Executive Peter Arduini said. GE retains a 19.9% stake in GE Healthcare.

HONG KONG/SHANGHAI/BEIJING, Dec 2 (Reuters) - China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt, three people with knowledge of the matter told Reuters, rolling out its latest support measure for the cash-starved property sector. The regulators have given 'window guidance', or verbal orders that leave no paper trail, to the banks, setting a date of Dec. 10 by which to make the loans secured against domestic assets, two of the sources said. Funds received after the latest step will allow developers to repay offshore loans and dollar bonds in a bid to repair global investors' bruised confidence in the sector, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The People's Bank of China, the central bank, and the China Banking and Insurance Regulatory Commission (CBIRC) did not immediately respond to Reuters' requests for comment.

Funds flowing from banks will allow developers to repay offshore loans and dollar bonds, helping to repair global investors' bruised confidence, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The third source said that, while the big four banks preferred fresh lending to go to state-backed developers, they would have to include some private firms, which have a greater need for offshore loans. Chinese banks make offshore loans secured against domestic assets to companies that need foreign funds, but regulatory tightening in the last couple of years to rein in debt-fuelled empire-building by corporates hampered that kind of lending. China's central bank will also offer cheap loans to financial firms to buy bonds issued by property developers, separate sources have told Reuters.

HONG KONG/SHANGHAI, Nov 25 (Reuters) - China's central bank will offer cheap loans to financial firms for buying bonds issued by property developers, four people with direct knowledge of the matter said, the strongest policy support yet for the crisis-hit sector. China has stepped up support in recent weeks for the property sector, a pillar accounting for a quarter of the world's second-biggest economy. As a result of the crackdown, though, property sales and prices fell, developers defaulted on bonds and suspended construction. Chinese media reported on Monday the central bank planned to provide 200 billion yuan in interest-free relending loans to commercial banks through the end of March for housing completions. Among other recent official support, China's interbank bond market regulator said this month it would widen a programme to support about 250 billion yuan ($35 billion) of debt offerings by private firms.

HONG KONG/BEIJING, Nov 24 (Reuters) - China's biggest commercial banks have pledged at least $162 billion in fresh credit to property developers, bolstering recent regulatory measures to ease a stifling cash crunch in the sector and triggering a rally in property shares. Three state-owned banks lined up around $131 billion worth of credit lines to developers on Thursday, a day after three other lenders committed $31 billion, responding to Beijing's call for support. The massive, coordinated injection of liquidity into the property sector buoyed the shares of major developers on Thursday. PSBC late on Thursday announced that it would provide a total of 280 billion yuan in financing to Country Garden as well as others. China Construction Bank Corp (601939.SS) signed cooperative agreements with eight property developers, including Vanke, Longfor and Midea, financial media outlet Yicai reported.

☆ Chinese lender BoCom agrees $14 bln credit line with developer Vanke
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 23 (Reuters) - China's Bank of Communications Co Ltd (BoCom) (601328.SS) said on Wednesday it would provide a 100 billion yuan ($13.98 billion) credit line to developer Vanke in the latest sign of support for the embattled property sector. The property sector makes up about a quarter of the economy. Under the agreement, BoCom will likely offer Vanke (000002.SZ) property development loans, mortgage loans and loans for merger and acquisition deals, according to a statement released by the lender. The agreement is part of the bank's efforts to implement 16 measures outlined by Chinese regulators to support the property sector, it said in the statement. China's property sector, once a pillar of growth, has slowed sharply this year due to government efforts to restrict excessive borrowing by developers.

☆ Chinese brands outnumber foreign names among Singles Day best-sellers
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] A delivery worker wearing a protective mask rides an electric scooter across a street ahead of Alibaba's Singles' Day shopping festival, following a coronavirus disease (COVID-19) outbreak in Shanghai, China, November 10, 2022. Alibaba said Singles Day sales were in line with last year, when gross merchandise value rose 8.5%, the lowest since the company started the shopping event in 2009. For the first time, Alibaba did not announce sales data this year. Alibaba rival JD.com said that in the 28 hours from 8 p.m. on Oct. 31, Chinese brands accounted for 80% of the sales of the top 20 brands. ($1 = 7.1066 Chinese yuan renminbi)Reporting by Sophie Yu, Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ New & Notable: Latest releases from W&P, Stitch Fix and r.e.m. beauty
▼ + stars: | 2022-07-30 | by ( Justin Redman | Justin Redman Is A Reporter For Select On Nbc News | ) www.nbcnews.com time to read: +3 min

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. — Morgan Greenwald, senior editorZoe Malin bought this cord wrapper in her quest to better organize her kitchen. Courtesy Zoe MailOpening a kitchen cabinet and seeing tangled cords dangling from small appliances drives me crazy. Select editor Morgan Greenwald recommended the Apple Watch Series 7 because its features help her monitor her health. Select editor Justin Krajeski said that his Midea U Air conditioner may be expensive, but that the smartphone-compatible unit is worth it.

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