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Differences over JIP's plan to retain Toshiba CEO Taro Shimada and his team were a source of friction between the two bidders, according to two sources familiar with the talks. Despite being selected as preferred bidder, JIP has struggled to secure enough equity commitments from potential partners, sources have said. It now looks set to miss a Monday deadline to deliver a firm proposal that includes letters of commitment from banks, sources have said. In late October, JIC expanded the size of its buyout fund to 900 billion yen ($6.11 billion) from 200 billion yen. Two of the sources said the expansion was not just for a Toshiba buyout but also aimed at other deals.

CompaniesCompanies Law firms Telefonaktiebolaget LM Ericsson FollowVonage Holdings Corp FollowWASHINGTON, Nov 3 (Reuters) - Communications firm Vonage agreed to pay $100 million to resolve a Federal Trade Commission (FTC) lawsuit that alleged it had failed to provide a simple method for customers to cancel their telephone services, court documents filed Thursday show. Vonage, which was acquired by Ericsson (ERICb.ST) earlier this year in a $6.2 billion deal, had employed hurdles to deter and prevent customers from stopping recurring charges, the FTC said in filing a lawsuit and proposed settlement in U.S. District Court in New Jersey. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading, MAS says
▼ + stars: | 2022-11-03 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Edward Tian | Moment | Getty ImagesSingapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore. "If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub," said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday. "But if it is about trading and speculating in cryptocurrencies, that is not the kind of crypto hub we want to be," said Menon. Singapore has ambitions to become a global crypto hub, but has been cracking down on the industry after many retail investors lost their life savings to crypto trading. We believe Project Guardian can help pave the way for the next evolution of financial markets in Singapore," said Menon.

☆ Canoo to build battery manufacturing facility in Oklahoma
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - Electric vehicle startup Canoo Inc (GOEV.O) said on Wednesday it would build a battery manufacturing facility at Pryor in Oklahoma with a capacity of 320 Megawatt hours production. The company's Pryor facility will make proprietary battery modules, energy management system and thermal control technology, CEO and Chairman Tony Aquila said. Canoo added it will be the first electric vehicle company to produce battery modules using hydro-power from the Grand River Dam Authority. The company's new battery manufacturing facility will be in the same industrial park as its future "MegaMicro" factory, Canoo said. Canoo last year announced Panasonic Holdings Corp (6752.T), which also supplies battery cells to Tesla Inc (TSLA.O), will be its provider for manufacturing battery packs.

☆ Dentsply Sirona Finds Improper Accounting for Incentives, Plans to Restate Earnings
▼ + stars: | 2022-11-01 | by ( Mark Maurer | ) www.wsj.com time to read: +7 min

The company said it overstated net sales and net income for the nine-month period ended Sept. 30, 2021 by $35 million and $27 million, respectively. Dentsply also said it overstated its net sales and net income for the 2021 fiscal year by $20 million and $10 million, respectively. It also booked a combined $108 million in related net sales during those quarters. As a result, Dentsply overstated net sales in the third quarter of 2021 by roughly $4 million, which should have been recorded the following quarter. A re-evaluation of controls and procedures identified one or more material weaknesses in the company’s internal controls over financial reporting.

☆ Panasonic to start building Kansas battery plant next month
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

The conglomerate also lowered its full-year operating profit forecast to 320 billion yen ($2.16 billion) from 360 billion yen for the year ending March 31. That compares with a 349.9 billion yen average forecast by 19 analysts. Panasonic posted an 11% drop in second-quarter operating profit, but performed better than analysts' estimates. It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data. Panasonic has said that, by 2029, it plans to expand its battery production capacity by three to four times, with most of the increase in North America.

☆ COSCO Shipping says to buy $2.7 bln port assets from parent, in $2.9 bln ship building deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - COSCO Shipping Holdings Co Ltd said on Monday it has agreed to buy port assets from its parent for an aggregate 19.7 billion yuan ($2.7 billion) as it aims to build a global digital supply chain for its customers. The Chinese shipping group said it would buy 14.9% of Shanghai International Port (Group) (600018.SS) from its indirect controlling parent China COSCO Shipping Corp Ltd for 18.9 billion yuan, and a 3.2% stake in Guangzhou Port (601228.SS) for 778.7 million yuan. COSCO Shipping Holdings (601919.SS) also said it had entered into shipping contracts with China COSCO Shipping's Dalian COSCO KHI Ship Engineering to build five vessels for a total of $1.2 billion. Its unit Orient Overseas (International) Ltd (0316.HK) has entered into ship building contracts with Nantong COSCO KHI Ship Engineering to build seven vessels for a total $1.7 billion. read more($1 = 7.2499 Chinese yuan renminbi)Reporting by Donny Kwok; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Chinese equities make up 31% of the MSCI Emerging Market index (.MIEF00000PUS), a popular stock index that many funds track and benchmark their performances against. Fund research firm Morningstar tracks nine new emerging market ex-China equity mutual funds and exchange-traded funds (ETFs) that were created this year, matching the number of launches in total over the previous two years. If Aubrey was to remove China from its emerging market strategy, the Indian market would take a significant portion, while the rest will be spread around other countries including Vietnam, Brazil and Mexico, he said. OUTFLOWSAndrew McCaffery, Fidelity International's global chief investment officer, said they have received increased requests from clients for emerging markets excluding China strategies, although the purpose was to “break China out as an allocation separately within global portfolios”. “The challenge is that they (global investors) are not going to be quick to add back in,” he said.

☆ The co-manager of Vanguard's $48 billion income fund has beaten 88% of competitors this year by finding winning dividend stocks using this simple strategy
▼ + stars: | 2022-10-29 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Vanguard's Sharon Hill has overseen a fantastic performance for her $48 billion income-focused fund. She targets stocks with promising dividend growth, valuations, fundamentals, and sentiment. This market environment may be choppy, but her view is that investing in the right stocks with proven dividend growth is better than letting idle money erode under high inflation. "Dividend growth is one of the few things that has kept up with inflation as you go back and look over the decades," Hill said. "So when you go back and you look at the '70s, '80s — which is the last time you can actually find any notable inflation — what you see is dividend growth pretty much kept pace with it."

☆ EXCLUSIVE Energy trader Mercuria buys back ChemChina stake
▼ + stars: | 2022-10-25 | by ( Julia Payne | Loucoumane Coulibaly | ) www.reuters.com time to read: +1 min

LONDON, Oct 25 (Reuters) - Trading house Mercuria Energy Group has bought back the minority stake that Chinese state-owned ChemChina held in the Geneva-based company since 2016, a spokesperson for Mercuria said on Tuesday. ChemChina was China's largest chemical group and owned 530,000 barrels per day (bpd) of refining capacity when it bought a 12% stake in Mercuria during an expansionary phase by many Chinese firms. ChemChina bought Swiss fertiliser and pesticide maker Syngenta the same year for $43 billion. Before the merger, ChemChina was poised to increase its stake in Mercuria in 2018. In return, Mercuria was set to gain a stake in the Chinese giant, but the deal did not go ahead.

☆ Deutsche Bank's DWS sued by consumer group over alleged greenwashing
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Oct 24 (Reuters) - A German consumer group said on Monday it is suing Deutsche Bank's (DBKGn.DE) asset management unit DWS (DWSG.DE) for allegedly misrepresenting a fund's green credentials in marketing materials. DWS, which has repeatedly denied it misled investors, rejects the allegations by the consumer group, which represents consumers in the state of Baden-Wuerttemberg. The group said it filed a suit against DWS on Sept. 26 in a Frankfurt court, which has set a hearing for March 10. The lawsuit against DWS is one of several filed by the consumer group against financial firms for allegedly overstating their green credentials. Asoka Woehrmann resigned as chief executive of DWS in June after German prosecutors raided the offices of DWS and Deutsche Bank in Frankfurt over allegations of greenwashing and misleading investments.

☆ Crypto PACs backed by Sam Bankman-Fried, Scaramucci plan last-minute midterm ad blitz
▼ + stars: | 2022-10-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

A network of political action committees supported by cryptocurrency industry leaders are planning a last-minute ad campaign in support of congressional candidates, according to one of the groups' chief strategists. Web3 Forward and Crypto Innovation, two super PACs financed by the crypto executives, are both expected to spend at least six figures on an ad blitz starting in two weeks, the strategist explained. During the primary season, Web3 Forward backed Democrats running for Congress, while Crypto Innovation supported Republicans, according to Federal Election Commission records. The spending by the crypto PACs will add to a flurry of cash flowing in what are expected to be the most expensive midterm elections ever. Former Trump White House communications director and SkyBridge Capital founder Anthony Scaramucci donated $100,000 to Crypto Innovation in March, according to an FEC filing.

The logo of Toshiba Corp is displayed atop of the company's facility building in Kawasaki, Japan, June 24, 2022. JIP's initial offer was below 6,000 yen per share, the two sources told Reuters, putting the value of a potential tender offer at less than 2.6 trillion yen ($17.5 billion). Investors have considered 6,000 yen to be a key threshold. During a strategic review last year, at least one global private equity firm told Toshiba's review committee that a deal to take the conglomerate private could be done at 6,000 yen a share or more. In Japan, the court-led rehabilitation of auto parts supplier Marelli Holdings Co Ltd - owned by U.S. private equity firm KKR & Co Inc (KKR.N) - has turned banks cautious about terms for financing leveraged buyouts, private equity sources said.

The ECB, which bought 5 trillion euros of bonds ($4.9 trillion) over the past decade to lift low inflation, now finds itself battling record high inflation at 10%. "This consideration also makes the practical implementation of ECB QT significantly harder," BofA said. That would reduce its balance sheet by a "manageable" 155 billion euros in 2023 and 300 billion euros in 2024, ING reckons. An eventual wind-down of PEPP holdings could add to balance sheet reductions in 2025 worth a total 388 billion euros, ING said. AllianceBernstein portfolio manager Nick Sanders said he was "sceptical" how the ECB could achieve QT with those protections in place.

☆ Socionext defies chip slump with Japan's biggest IPO this year
▼ + stars: | 2022-10-12 | by ( Sam Byford | ) www.reuters.com time to read: +3 min

TOKYO, Oct 12 (Reuters) - Making its market debut on Wednesday, Japan's Socionext Inc (6526.T) bucked softening sentiment toward chips by surging 15% in Tokyo's biggest initial public offering of the year so far. The total deal size was 76.8 billion yen ($525 million), including an overallotment of 2.74 million shares. Based in Yokohama, Socionext was formed in 2015 out of a merger between chipmaking units at Fujitsu Ltd (6702.T) and Panasonic Holdings Corp (6752.T). Socionext says it designs SoCs for clients including major automakers and 5G vendors. But Chu said Socionext was coming in at a "wide discount" to international peers.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

☆ European lottery group Allwyn calls off SPAC deal to list on NYSE
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterSept 23 (Reuters) - European lottery group Allwyn Entertainment said on Friday it has called off its deal with a blank-check company that would have seen its shares list in New York, citing volatile market conditions. Allwyn struck a merger deal with the blank-check firm Cohn Robbins Holdings Corp (CRHC.N)in January, putting the combined firm's enterprise value at about $9.3 billion at that time. Register now for FREE unlimited access to Reuters.com RegisterAllwyn's announcement comes the same day as the SPAC backed by private equity firm TPG Inc (TPG.O)decided to wind down its operations, also citing market volatility. Cohn Robbins, set up by Gary Cohn, a former economic adviser to former U.S. President Donald Trump, and investor Clifton Robbins, raised $828 million from investors in September 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rhea Binoy in Bengaluru; Editing by Shailesh Kuber and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Yogurt Maker Chobani Names New CFO as It Still Weighs an IPO
▼ + stars: | 2022-09-22 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +2 min

The New Berlin, N.Y.-based company, known for its Greek-style yogurt, on Thursday named Tarkan Gürkan as chief financial officer. Mr. Gürkan stepped into the role on an interim basis in June after former CFO Jody Macedonio stepped down the same month. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEWMr. Gürkan previously served as chief investment officer at the family office of Chobani founder and Chief Executive Hamdi Ulukaya. An IPO is still on the table, the spokeswoman said, adding that Mr. Gürkan will help take the company public if market conditions improve.

☆ Biden may soon put a floor on sinking oil prices. That’s good for our energy stocks
▼ + stars: | 2022-09-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

When the government decides to start buying, oil prices could get some nice support, which would be good for our energy holdings. When a player like the U.S. government goes from supplier to buyer, its a pretty positive sign for those that benefit from higher oil prices. Remember, the variable part of the dividend payments that all three companies pay are tied directly to free cash flow generation. Coterra's free cash flow breakeven is about $40 per barrel as of its second quarter results. In July 2021, U.S. oil prices fell below $70 after OPEC said it would increase output as Covid fears weighed on global demand.

☆ Here's how we're positioned in four sectors and some of the stocks we like in each
▼ + stars: | 2022-09-15 | by ( Krystal Hur | ) www.cnbc.com time to read: +4 min

Here's quick look at some economic downturn-resistant sectors in consumer staples and health care; our energy inflation hedge; and how to play out-of-favor tech. We're talking about Club names Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Google-parent Alphabet (GOOGL) to name a handful. All four of those big tech stocks are rated as a 1 , meaning we view them as buys at these levels. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Most of Warren Buffett's equity portfolio is tied up in just 5 stocks. Here’s what they are
▼ + stars: | 2022-08-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett's Berkshire Hathaway just revealed that about 70% of its equity portfolio was concentrated up in just five names. While the conglomerate enjoyed a big rebound in operating earnings, it did post a $53 billion loss on its investments during the second quarter amid the overall market turmoil. The legendary investor again asked investors to not focus on the quarterly fluctuations in its equity investments. Apple was still Berkshire's largest common stock investment as of the end of the second quarter, with a market value of $125.1 billion. Longtime holdings Coca-Cola, American Express and Bank of America were also among Berkshire's biggest bets at the end of June.

☆ RISE: Как компании семьи Андронаке получали деньги из украденного миллиарда
▼ + stars: | 2021-07-09 | by ( ) newsmaker.md time to read: +2 min

Журналисты RISE Moldova выяснили, что эти компании получили деньги из украденного в молдавских банках миллиарда. Через несколько месяцев она получила 32,8 млн леев от Banca de Economii (BEM), как «аванс не реконструкцию и реставрацию». Через несколько дней, эти деньги перевели в доллары и большую их часть (30,7 млн леев) перечислили на счет британской компании Sirmastra Sales. на счет компании Black Sea Holdings Company LP. Black Sea Holdings SA.

Persons: BEM, SRL BEM, Sirmastra, Владимир Андронаки, Андронаки, Надежда Андронаки, Андронаке, Андрей Серебряков Organizations: Webwest, Sea Holdings SA, Manos Alliance LLP, Black Sea Holdings SA Webwest, Universal, SRL, Banca de Economii, Black Sea Holdings SA, Black Sea Holdings, Демпартия, ДПМ Locations: Moldova, Белиз

☆ Două companii offshore cu nume similare din paradisul fiscal Belize au încasat un milion de euro din „Miliardul dispărut”: societățile - controlate de Vladimir Andronachi
▼ + stars: | 2021-07-09 | by ( ) www.zdg.md time to read: +5 min

Două companii offshore cu nume similare din paradisul fiscal Belize au încasat un milion de euro din „Miliardul dispărut”. Astfel, în perioada 2013-2017, Andronachi a încasat pe cele două conturi 385 de mii de euro. Banii de la BEMConform informațiilor de la Agenția Servicii Publice, în 2009, Webwest Alliance LTD – afiliată deputatului Andronachi, a devenit asociată unică a Universal Proiect SRL. În 2016, Black Sea Holdings Company LP a transferat peste 195 de mii de euro societății Black Sea Holdings SA. RISE Moldova i-a contactat și pe Vladimir Andronachi și pe soția acestuia, însă niciunul dintre ei nu a răspuns la apeluri și mesaje.

Persons: Vladimir Andronachi, Vlad Plahotniuc, Andronachi, Nadejda Andronachi, BEM, Andrei Organizations: Moldova, Autoritatea Națională, Alliance, Black Sea Holdings, Black Sea Holdings SA, Webwest Alliance, Agenția, Webwest, Universal, britanice Locations: Belize, Americii, străinătate, Moldova, Chișinău, România, Bank, Letonia, Economii, moldovean, Black

☆ Расследование RISE Moldova: Как 1 мдрд. евро из «украденного миллиарда» оказались на счетах депутата Андронаки
▼ + stars: | 2021-07-09 | by ( ) nokta.md time to read: +3 min

Компания называется Black Sea Holdings SA. Деньги поступили от двух офшорных компаний, контролируемых его семьей: Black Sea Holdings SA и Webwest Alliance LTD. При проведении банковских операций указывалась категория «место назначения платежа»: «личные расходы» или «договор». в компанию Black Sea Holdings SA, контролируемую семьей Андронаки, и 400 тыс. леев, по среднегодовому курсу в 2015) на счета Black Sea Holdings Company LP — компании с названием, аналогичным названию семьи Андронаки. В 2016 году Black Sea Holdings Company LP перевела более 195 тысяч евро в пользу Black Sea Holdings SA.

Persons: BEM, nokta, Влад Плахотнюк, Владимир Андронаки, Надежда Андронаки, Владимир Андронака, Андронаки, Андрей Серебряков, Андронака Organizations: Webwest, Black Sea Holdings SA, Manos Alliance, Andronachi, ABLV Bank, Black Sea Holdings SA Webwest, Universal, Economii, Sea Holdings SA, Black Sea Holdings, Sea Holdings, Banca, Агентство государственных услуг Locations: Moldova, Белиза, Центральная Америка, Белизе, Латвия, Кишинев, Молдова

☆ Un milion de euro din miliardul furat a ajuns la două companii ale lui Andronache, deputat de încredere al lui Plahotniuc
▼ + stars: | 2021-07-09 | by ( ) www.jurnal.md time to read: +6 min

RISE Moldova a aflat că societățile create pe coasta de est a Americii Centrale sunt controlate de Vladimir Andronachi, un deputat de încredere al oligarhului Vlad Plahotniuc. Prima dată, Andronachi a ocupat un fotoliu de deputat, din cele 101 disponibile, în 2015. Astfel, în perioada 2013-2017, Andronachi a încasat pe cele două conturi 385 de mii de euro. Conform informațiilor de la Agenția Servicii Publice, în 2009, Webwest Alliance LTD – afiliată deputatului Andronachi, a devenit asociată unică a Universal Proiect SRL. În 2016, Black Sea Holdings Company LP a transferat peste 195 de mii de euro societății Black Sea Holdings SA.

Persons: Andronache, Plahotniuc, Vladimir Andronachi, Vlad Plahotniuc, Andronachi, Nadejda Andronachi, BEM, Andrei Organizations: Moldova, Partidul Democrat din, PDM, Autoritatea Națională, Alliance, Black Sea Holdings, Black Sea Holdings SA, Webwest Alliance, Agenția, Webwest, Universal, britanice Locations: Belize, Americii, străinătate, Partidul Democrat din Moldova, Moldova, Chișinău, România, Bank, Letonia, Economii, moldovean, Black

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