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☆ China Says Official to Lead a Delegation in China-US Nuclear Talks
▼ + stars: | 2023-11-02 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - The Chinese foreign ministry said on Thursday a leading official from its department of arms control affairs will lead a delegation in China-U.S. nuclear talks. "Next week in Washington, China and U.S. will hold arms control and non-proliferation consultations at director-general level," spokesperson Wang Wenbin said when asked about a report that China agreed to nuclear arms-control talks with the United States. According to plans agreed by both sides, Wang said China and the U.S. will conduct dialogue and exchanges on a wide range of issues such as implementation of international arms control treaties. The talks come days after Foreign Minister Wang Yi met with senior U.S. officials, with both sides agreeing to hold a series of consultations in the near future. (Reporting by Laurie Chen; Writing by Bernard Orr; Editing by Sonali Paul and Edwina Gibbs)

Persons: Wang Wenbin, Wang, Wang Yi, Biden, Laurie Chen, Bernard Orr, Sonali Paul, Edwina Gibbs Organizations: U.S Locations: BEIJING, China, U.S, Washington , China, United States

☆ LinkedIn hits 1 billion members, adds AI features for job seekers
▼ + stars: | 2023-11-01 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

A keyboard is placed in front of a displayed LinkedIn logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - LinkedIn, the business-focused social network owned by Microsoft (MSFT.O), on Wednesday said it now has more than 1 billion members and is adding more artificial intelligence features for paying users. About 80% of recent members are signing up from outside of the United States, the company has said. LinkedIn has a free tier of membership but also offers subscriptions from $30 per month. The system can also recommend profile changes to make the user more competitive for a job.

Persons: Dado Ruvic, Tomer Cohen, Stephen Nellis, Edwina Gibbs Organizations: REUTERS, LinkedIn, Microsoft, Thomson Locations: United States, San Francisco

☆ Melbourne City boss Vidosic dumped after two games of A-League season
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, Nov 1 (Reuters) - Melbourne City manager Rado Vidosic has been sacked two games into the A-League season and replaced by Aurelio Vidmar. City, the sister club of Premier League giants Manchester City, were thrashed 6-0 by Adelaide United on Sunday following a 2-1 defeat in their season-opener against cross-town rivals Western United. Former Australia captain Vidmar takes over as head coach for the rest of the season, City said. "During his five years at the Club, Vidosic has been an integral part of on-field success, winning silverware with the Youth, Women’s and most recently Men’s teams," City said in a statement. Reporting by Ian Ransom in Melbourne; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Rado Vidosic, Aurelio Vidmar, Vidosic, Patrick Kisnorbo, Vidmar, City, Ian Ransom, Edwina Gibbs Organizations: MELBOURNE, Melbourne City, United Arab, League, Central Coast Mariners, Premier League, Manchester City, Adelaide United, Western United, Former Australia, Socceroos, Adelaide, Melbourne Victory, Victory, Thomson Locations: United Arab Emirates, City, Adelaide, Melbourne

☆ CIMB, J Trust among suitors for Indonesia's Bank Commonwealth -sources
▼ + stars: | 2023-10-31 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

REUTERS/Bazuki Muhammad/File Photo Acquire Licensing RightsSINGAPORE, Oct 31 (Reuters) - Malaysian bank CIMB (CIMB.KL) and Japanese finance company J Trust (8508.T) are among firms vying to buy Indonesia's PT Bank Commonwealth, a deal that could value the lender at $400-$500 million, two sources with knowledge of the matter said. Bank Commonwealth, which is 99% owned by Australia's biggest lender Commonwealth Bank of Australia (CBA) (CBA.AX), focuses on retail lending as well as corporate banking services for small and medium enterprises. 2 bank, and J Trust have expressed interest and are looking at submitting binding bids, the sources said. CIMB, J Trust, CBA and Morgan Stanley declined to comment. Bank Commonwealth did not respond to a Reuters request seeking comment.

Persons: Bazuki Muhammad, Morgan Stanley, Yantoultra Ngui, Anton Bridge, Kane Wu, Edwina Gibbs Organizations: CIMB, REUTERS, Rights, J Trust, Indonesia's PT Bank Commonwealth, Bank Commonwealth, Australia's, Commonwealth Bank of Australia, CBA, Bank International Indonesia, China's, China's Bank of, SS, Thomson Locations: Kuala Lumpur, Rights SINGAPORE, Malaysian, Indonesia, Southeast, Southeast Asia, China's Bank, China's Bank of Hangzhou, Hangzhou, Singapore, Tokyo

The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine-tune use of production capacity and maximize efficiencies. Vista, Blackstone, Riverside and Energy Exemplar declined to comment. Energy Exemplar has grown at an annual compound rate of 30% since 2018 under Riverside's ownership, the sources said. Blackstone is investing in Energy Exemplar through its energy transition arm, which is in the process of raising a new fund. Its previous investments include Transmission Developers, solar mounting firm Esdec, environmental engineering firm Geosyntec, environmental commodity exchange Xpansiv, and renewable energy firm Invenergy.

Persons: Blackstone, Anirban Sen, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Blackstone, Vista Equity Partners, Australia's, . Energy, Riverside Company, Blackstone Energy, Partners, U.S . Securities, Exchange Commission, The, Developers, Foundation, Thomson Locations: New York City, U.S, Vista, Blackstone, Riverside, North Adelaide, The New York, New York

☆ Striking US actors union says major issues still unresolved with studios
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 30 (Reuters) - Striking Hollywood actors and studios remain far apart on key issues and will meet on Tuesday, the actors union said late on Monday. "While talks over the past week have been productive, we remain far apart on key issues, the union said in an update to its members. Last week, the union made a comprehensive counteroffer to AMPTP, the group representing Walt Disney (DIS.N) Netflix (NFLX.O) and other major media companies. Members of SAG-AFTRA, which represents 160,000 actors and other media professionals, have been on strike since July.

Persons: Mario Anzuoni, Duncan Crabtree, Crabtree, Maria Ponnezhath, Rollo Ross, Edwina Gibbs Organizations: Paramount Studios, REUTERS, Reuters, Alliance, Television Producers, Walt Disney, Netflix, SAG, Thomson Locations: Los Angeles , California, U.S, Ireland, AMPTP, Bengaluru

☆ Australia Sept retail sales climb at fastest pace in 8 months
▼ + stars: | 2023-10-30 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photo Acquire Licensing RightsSYDNEY, Oct 30 (Reuters) - Australian retail sales rose at the fastest pace in eight months in September, suggesting some resilience in consumer spending which would add to the case for an interest rate hike as soon as next week. The Australian dollar rose 0.4% to $0.6360, while three-year government bond yield hit a fresh 12-year high of 4.388%. "Downside risks to household consumption have been a key focus of the RBA, but those do not look to have been realised so far." The broad softening in consumer spending has been one major reason that the RBA has left interest rates unchanged for four straight months now. However, a sustained rebound in housing prices could lend some support to household consumption.

Persons: Daniel Munoz, Ben Dorber, Taylor Nugent, Downside, Stella Qiu, Tom Hogue, Edwina Gibbs, Miral Organizations: REUTERS, Rights, Reserve Bank of, Australian Bureau of Statistics, National Australia Bank, Thomson Locations: Sydney's, Australia, Reserve Bank of Australia, Queensland

☆ Canadian union Unifor begins strikes at all Stellantis facilities
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 30 (Reuters) - Canadian labor union Unifor said early on Monday it has commenced strikes at all Stellantis (STLAM.MI) facilities in the country, with more than 8,200 members staging a walkout after failing to reach a tentative agreement in labor contract talks. Chrysler-parent Stellantis said it was "extremely disappointed" with the strike action and would continue to bargain until an agreement is reached. The UAW and Stellantis reached a tentative agreement on a new labor contract on Saturday. Stellantis assembles some of its popular vehicles including the Dodge Charger, Challenger and the Chrysler Pacifica minivan in its Canadian plants.

Persons: David, Dee, Delgado, Unifor, Stellantis, Unifor's, Abinaya Vijayaraghavan, Jacqueline Wong, Edwina Gibbs Organizations: New York, REUTERS, Plant, Chrysler, United Auto Workers, UAW, Ford, General Motors, GM, Dodge, Chrysler Pacifica, Detroit, Thomson Locations: Manhattan , New York City, U.S, Brampton, Canada, United States, Bengaluru

☆ Nomura quarterly profit doubles on Japanese stock market strength
▼ + stars: | 2023-10-27 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

Nomura's dominant position in Japan, where the stock market is trading at 33-year highs, helped it offset lethargic dealmaking and sluggish trading overseas. July-September profit came in at 35.2 billion yen ($235 million), rebounding from last year when a sharp downturn in global financial markets battered its asset management and investment banking businesses. This year, Japanese firms have been increasingly willing to embark on fundraising - either via equity or debt markets. As a result, Nomura's investment banking business saw a 19% increase in net revenue due to robust equity offerings and active dealmaking in Japan. "Encouraged by the strong stock market, Japanese companies are becoming more proactive in making investments for growth," Chief Financial Officer Takumi Kitamura told a media briefing.

Persons: Toru Hanai, Takumi Kitamura, LSEG, Makiko Yamazaki, Jamie Freed, Edwina Gibbs Organizations: Nomura Securities, REUTERS, Rights, Nomura Holdings, U.S . Federal Reserve, Thomson Locations: Tokyo, Japan

☆ Dollar firms, yen weakens to intervention-wary level
▼ + stars: | 2023-10-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The Japanese yen touched a fresh one-year low of 150.32 per dollar overnight and was last at 150.26. Japanese finance minister Shunichi Suzuki warned investors against selling the yen again on Thursday, saying authorities were closely watching moves. The New Zealand dollar also touched an 11-month low of $0.5780 and was last down 0.22% at $0.5788. Soft European economic data and negative interest rate differentials between Europe and the US will likely keep a lid on euro/dollar."

Persons: Florence Lo, Shunichi Suzuki, Suzuki, Carol Kong, Rodrigo Catril, CBA's, Sterling, bitcoin, Ankur Banerjee, Edwina Gibbs Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Bank of Japan, Reuters, Australian, New Zealand, Benchmark, National Australia Bank, Canadian, Bank of Canada, European Central Bank, ECB, Thomson Locations: Rights SINGAPORE, Europe, Singapore

☆ Japan's Denso to invest $3.3 billion to bulk up chips business
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Japanese automotive supplier Denso (6902.T) will invest about 500 billion yen ($3.3 billion) in semiconductors by 2030 as aims to triple the scale of its chips business by 2035 from current levels, the company's president said on Thursday. Thus, we will forge strategic partnerships with various companies," Denso President Shinnosuke Hayashi said at the Japan Mobility Show, which officially opened on Thursday. The company will hire new employees to specialise in electrification and software and also move staff from mature businesses to electrification and software, he said. ($1 = 150.1900 yen)Reporting by Daniel Leussink; Editing by David Dolan, Jamie Freed and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Shinnosuke Hayashi, Daniel Leussink, David Dolan, Jamie Freed, Edwina Gibbs Organizations: REUTERS, Rights, Denso, Toyota, Taiwan Semiconductor Manufacturing, Sony, Japan, Thomson Locations: Japan

☆ Oil dips after U.S. stockpiles climb, Middle East tensions in focus
▼ + stars: | 2023-10-26 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Investors were also digesting a rise in U.S. crude inventories, indicative of weak demand. Macroeconomic concerns continued to weigh on the outlook for oil demand, as euro zone business activity data took a surprise downturn this month. The dollar index was also up slightly on Thursday, which helps pressure oil prices. A stronger dollar dampens oil demand as it makes the commodity more expensive for those holding other currencies.

Persons: Angus Mordant, Brent, Tina Teng, Jeslyn Lerh, Gerry Doyle, Edwina Gibbs Organizations: REUTERS, U.S, West Texas, Wall Street Journal, Hamas, CMC, Investors, Energy Information Administration, Citi, Thomson Locations: Mentone, Loving County , Texas, U.S, Israel, SINGAPORE, Gaza

PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. REUTERS/Lewis Jackson Acquire Licensing RightsSYDNEY, Oct 26 (Reuters) - PwC Australia said on Thursday that dozens of staff who had been set to move across to spin-off consultancy Scyne Advisory will no longer have roles at the new firm and have been told to look for jobs internally. Over 1,500 people out of PwC Australia's more than 9,000 staff were expected to move to the new firm, PwC said in September. A Scyne Advisory spokesperson said a delay in closing the deal, originally planned for September, changes to its "partner mix" and the need to establish Scyne as a "sustainable business" were factors in the decision. The move comes as Scyne Advisory gears up to reclaim advisory work that netted PwC Australia A$680 million ($427 million) last financial year.

Persons: Lewis Jackson, PwC, Kevin Burrowes, Lincoln, Edwina Gibbs Organizations: REUTERS, Rights, Scyne, PwC, PwC Australia, of Finance, Thomson Locations: Barangaroo, Australia, PwC Australia, PwC

A fishing boat sails past the Princess Cruises' Ruby Princess cruise ship as it docks in Manila Bay during the spread of the coronavirus disease (COVID-19), in Cavite city, Philippines, May 7, 2020. REUTERS/Eloisa Lopez/File Photo Acquire Licensing RightsSYDNEY, Oct 25 (Reuters) - Carnival Corp's (CCL.N) Australian unit has been ordered to pay the medical expenses of a woman who contracted COVID-19, with a judge ruling that the cruise ship operator misled passengers about safety risks in a landmark class action ruling. The decision from Australia's Federal Court is the first class action win against a cruise ship operator in the world, according to Shine Lawyers, who represent about 1,000 Australian plaintiffs in the suit. Legal filings show the operator denied it knew before the voyage that the risk of contracting COVID was higher on a cruise ship than in the community. The number of plaintiffs could also grow should Australia's High Court rule that some 700 U.S. passengers can be included in the class action.

Persons: Eloisa Lopez, COVID, Angus Stewart, Susan Karpik, Henry, Henry Karpik's, Vicky Antzoulatos, Karpik's, Karpik didn’t, Antzoulatos, Lewis Jackson, Edwina Gibbs Organizations: Princess Cruises, REUTERS, Rights, Federal, Shine Lawyers, Carnival, Carnival Australia, Reuters, Thomson Locations: Manila Bay, Cavite city, Philippines, Carnival Australia, Sydney, New Zealand, New South Wales

Gas accounted for around 51% of Italy's total electricity generation in 2022, making the country the most gas-reliant among Europe's largest economies, data from Ember shows. INDUSTRIAL BASEKey to natural gas' staying power in Italy's generation mix is the country's high level of industrial energy demand. However, Italy's power costs have climbed sharply since Russia's invasion of Ukraine in 2022 cut natural gas supplies to Western Europe and sent regional power costs soaring. This week's ENI deal offers additional protection for consumers by further reducing Italy's reliance on Russia for natural gas supplies, even as it cements Qatar's position as Italy's top LNG supplier. Higher gas supplies may also help reduce overall power costs, and in turn should help boost the competitiveness of Italy-based businesses relative to regional rivals.

Persons: Dado Ruvic, Gavin Maguire, Edwina Gibbs Organizations: REUTERS, Italy's ENI SpA, Gas, Energy Institute, United States, Department of Commerce, LSEG, ENI, Reuters, Thomson Locations: LITTLETON , Colorado, QatarEnergy, Southern, Italy, Europe Italy, Europe, United, Ukraine, Western Europe, Germany, Russia, United States, Algeria, Qatar

☆ Foxconn shares drop after report of China tax audit, land use probe
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

A woman drives past the logo of Foxconn outside the company's building in Taipei, Taiwan November 9, 2022. The Global Times did not give details of the tax or land use probes, which have not been officially announced by any Chinese government department. The Chinese state media report comes less than three months before Taiwan votes in presidential and parliamentary elections. Speaking at a campaign rally on Sunday, Taiwan Vice President Lai Ching-te, the DPP's presidential candidate and leading the polls, said the Chinese report on the investigation was "unexpected" and "regretful". Foxconn shares were down 2.4% at 0204 GMT, underperforming the broader Taiwanese market (.TWII).

Persons: Ann Wang, Foxconn, Terry Gou, Taiwan's, Huang Shih, Gou, Lai Ching, Hai, Ben Blanchard, Jacqueline Wong, Edwina Gibbs, Sonali Paul Organizations: REUTERS, Rights, Global Times, Hai Precision Industry Co, Democratic Progressive Party, Taiwan, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, China, China's, Henan, Hubei, Zhengzhou, India, U.S

SHANGHAI, Oct 23 (Reuters) - E-commerce giant Alibaba Group (9988.HK) said it will be offering huge discounts as it gears up for its annual Singles Day shopping extravaganza - an indication that Chinese consumer confidence remains at a low ebb. The event - which begins on Tuesday and despite its name now stretches over several weeks - will offer over 80 million products at their lowest prices this year, it said in a statement. Tmall will also compare prices on products in real time with other e-commerce platforms in China and tag products with the lowest price, it said. Alibaba did not disclose how much in subsidies and coupons it plans to offer in total this year but added that Taobao and Tmall had committed an "unprecedented" amount of investment. The company last year did not announce the sales tally for the event for the first time, saying only that the total amount was in line with 2021.

Persons: Alibaba, Tmall, Xi Jinping, Brenda Goh, Edwina Gibbs Organizations: Alibaba, HK, Communist Party, Thomson Locations: SHANGHAI, China

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. Non-payment would trigger cross defaults in other Country Garden bonds as is standard in bond contracts. Country Garden reiterated on Wednesday that it expects to be unable to meet all of its offshore debt obligations and hopes to seek a "holistic" solution to its difficulties. Shares in Country Garden have lost some 70% of their value this year but gained some ground on Wednesday, rising 2.7%. "I think Country Garden offshore US dollar bond pricing speaks for itself as to the current expectations," said Real Estate Foresight co-founder Robert Ciemniak who publishes on Smartkarma.

Persons: Tingshu Wang, Cedric Rimaud, Garden's, China Evergrande, Robert Ciemniak, Clare Jim, Xie Yu, Scott Murdoch, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, HK, Foresight, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, U.S, Hang, Hong Kong

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG, Oct 18 (Reuters) - The grace period for Chinese property developer Country Garden Holding's (2007.HK) $15 million coupon payment has expired with no word that the money has been paid. Country Garden did not immediately respond to a request for comment. Country Garden has also missed other offshore payments in the past few weeks, though those payments still have not seen their 30-day grace periods lapse. A default would open the way for Country Garden's offshore creditors to begin negotiations with the firm's financial advisors.

Persons: Tingshu Wang, Clare Jim, Scott Murdoch, Xie Yu, Sonali Paul, Edwina Gibbs Organizations: REUTERS, HK, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, China's, Hang, Hong Kong, Sydney

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsHONG KONG/SHANGHAI, Oct 17 (Reuters) - China's Gemdale (600383.SS) saw its stocks and bonds plunge on Tuesday after the resignation of its chairman, as investors took no chances amid the debt crisis in the key real estate sector. However, investors concerned about the broader debt problems in China's property sector sold off the stock, which dropped by the daily 10% limit in afternoon trading in Shanghai. Gemdale has a total debt of 21.1 billion yuan ($2.88 billion) in the form of bonds due by the end of 2024, according to LSEG data. It ranked as China's 8th largest developer last year, according to private research firm China Real Estate Information Corp. It had sales of 221.8 billion yuan ($30.3 billion) last year and its financial fundamentals were stable, the company said in its annual report published in April.

Persons: Thomas Peter, Ling Ke, Gemdale, Huang Juncan, Ting Meng, Xie Yu, Li Gu, Edwina Gibbs, Miral Organizations: REUTERS, ANZ Bank China, Estate Information Corp, Thomson Locations: Beijing, China, HONG KONG, SHANGHAI, Shanghai, Hong Kong

☆ China's measures to shore up its indebted property sector
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

The following is a list of recent measures for the sector which accounts for roughly a quarter of the world's second-largest economy. Sept. 14 - China's central bank said it would cut the amount of cash that banks must hold as reserves for the second time this year to boost liquidity. Aug. 31 - China's central bank and financial regulator ease some borrowing rules for homebuyers, including lowering existing mortgage rates for first-home buyers and the down payment ratio in some cities. July 10 - China's central bank extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector. June 20- China's central bank cut its key lending benchmarks, or loan prime rates (LPRs), for the first time in 10 months.

Persons: Tingshu Wang, Liangping Gao, Ryan Woo, Edwina Gibbs Organizations: REUTERS, Rights, Xinhua, Thomson Locations: Tianjin, China, Rights BEIJING, Beijing, Shanghai, Shenzhen, megacities

A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022. The likely decline in profit also reflects a strong performance last year, when the company was still riding high on pent-up post-pandemic demand. The world's largest contract chipmaker is set to report net profit of T$195.9 billion ($6 billion) for July-September - its second straight quarter of profit decline, according to an LSEG SmartEstimate drawn from 19 analysts. Given that, much of Thursday's focus will be on TSMC's outlook for the fourth quarter and beyond. Fubon Securities expects a slow start to next year for TSMC, with 10% growth in the first quarter, predicting order cancellations towards the year end and mild restocking demand.

Persons: Ann Wang, SmartEstimates, Morgan Stanley, SmartEstimate, TSMC, Sarah Wu, Ben Blanchard, Emily Chan, Edwina Gibbs Organizations: REUTERS, Revenue, TAIPEI, Taiwan Semiconductor Manufacturing Co, TSMC's, Fubon Securities, TSMC, Apple, Thomson Locations: Tainan, Taiwan, Asia's, TSMC's Taipei

[1/2] Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. The company said it would work with the government-run Science Park Administration "to evaluate land in Taiwan suitable for building semiconductor fabs". The world's largest contract chipmaker was intending to build a 1-nanometre chip factory in Longtan, according to a Central News Agency report in December that quoted a Science Park Administration official. Taiwan Economy Minister Wang Mei-hua said the government would help TSMC with its land, water and power needs given that semiconductors are one of island's most important industries. Chen Chi-mai, mayor of Kaohsiung in the south where TSMC is currently building a 2-nanometre chip factory, said his city has enough water, power, and land for more semiconductor factories.

Persons: Ann Wang, chipmaker, Wang Mei, Chen Chi, Sarah Wu, Ben Blanchard, Yimou Lee, Edwina Gibbs Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Taiwan Semiconductor Manufacturing Co, Central News Agency, Administration, Taiwan, Thomson Locations: Hsinchu, Taiwan, Rights TAIPEI, Longtan, Kaohsiung, TSMC

☆ Country Garden's entire offshore debt to be in default if Tuesday payment not made
▼ + stars: | 2023-10-16 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Oct 17 (Reuters) - Country Garden's (2007.HK) entire offshore debt will be deemed to be in default if China's largest property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period. Lack of payment - which is expected after Country Garden last week warned about its inability to meet offshore debt obligations - would make the firm the latest in scores of Chinese developers who have defaulted. Country Garden has also missed other offshore payments in the past few weeks though those payments still have not seen their 30-day grace periods lapse. Country Garden declined to comment. With nearly $11 billion of offshore bonds and $6 billion of offshore loans, a default by Country Garden would set the stage for one of China's biggest corporate debt restructurings.

Persons: Edgar Su, Houlihan Lokey, Sidley Austin, Clare Jim, Edwina Gibbs Organizations: REUTERS, HK, China International Capital Corporation, Kingboard Holdings, JPMorgan, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Hong Kong

TOKYO, Oct 16 (Reuters) - Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). If an overallotment option for domestic investors is exercised, the offering would raise roughly $833 million. The move was partly due to a lacklustre share price performance by chip designer Arm since its listing last month, a source familiar with the matter has said. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Mariko Katsumura, Sam Nussey, Miho Uranaka, Kim Coghill, Edwina Gibbs Organizations: Kokusai, U.S, KKR, Tokyo bourse's, Samsung Electronics, Micron Technology, Thomson Locations: TOKYO

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