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Japan’s Rakuten plans new share issue to raise around $2.2 bln  

by DailyBriefers May 15, 2023
written by DailyBriefers

Business & FinanceDeals

15 May 2023, 7:36 pm 1 minute

By Reuters News Agency

In the latest news on Rakuten’s moves to fortify its balance sheet, Reuters exclusively reported that Japanese e-commerce firm Rakuten was looking to raise around 300 billion yen ($2.2 billion) by issuing new shares to shore up its finances after years of losses from its mobile business. Shares of Rakuten, which were up around 5% in afternoon trade before the May 15 Reuters report, turned negative and ended the day down 9%, their biggest one-day drop in three years. Rakuten also issued shares to founder and CEO Hiroshi Mikitani and his fund to pay down debt and build base stations. By the time Rakuten confirmed these reports at the close of trade the following day, its stock had fallen another 5%. 

Market Impact

Shares of Rakuten, which were up around 5% in afternoon trade before the May 15 Reuters report, turned negative and ended the day down 9%, their biggest one-day drop in three years. By the time Rakuten confirmed these reports at the close of trade the following day, its stock had fallen another 5%. 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: Japan

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 15, 2023 3,235 comments
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News

Kioxia, Western Digital speed up merger talks as memory chip demand slumps   

by DailyBriefers May 15, 2023
written by DailyBriefers

Business & FinanceDeals

15 May 2023, 7:34 pm 1 minute

By Reuters News Agency

Reuters exclusively reported that Western Digital and Japan’s Kioxia Holdings are speeding up their merger talks and now nailing down a deal structure as a slumping flash memory market has put fresh consolidation pressure on the world’s no.2 and no.4 chipmakers. Under the plan now being worked out, the merged entity would be 43% owned by Kioxia, 37% by Western digital and the rest by existing shareholders of the companies, Reuters reported. Shares of Western Digital rose more than 11% following the Reuters report.  

Market Impact

Shares of Western Digital rose more than 11% following the Reuters report. 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: Japan

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 15, 2023 0 comment
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News

Turkey faces election runoff, Erdogan seen with momentum  

by DailyBriefers May 15, 2023
written by DailyBriefers

Government

15 May 2023, 7:28 pm 1 minute

By Reuters News Agency

Reuters led reporting of the Turkish presidential elections, from initial reports showing President Erdogan’s comfortable lead to the subsequent local news of his lead dropping below 50%, making a runoff likely. With Erdogan facing the most credible challenge to his power in two decades, markets were watching the results closely. The lira and stock markets fell sharply as Erdogan’s position went against polling results in the runup to the election.

Market Impact

The lira and stock markets fell sharply as Erdogan’s strong result went against what had been seen in polling in the runup to the election.

Article Tags

Topics of Interest: Government

Type: Reuters Best

Sectors: Government & Public Services

Regions: Middle East

Countries: Turkey

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 15, 2023 0 comment
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News

Argentina plans new rate hike, more FX intervention as inflation soars  

by DailyBriefers May 14, 2023
written by DailyBriefers

Business & Finance

14 May 2023, 7:31 pm 1 minute

By Reuters News Agency

Reuters was first to report that Argentina’s central bank would hike the benchmark interest rate 600 basis points to 97% after inflation overshot expectations in April to hit 109% on an annual basis. The latest huge hike, part of a package of emergency measures to rein in prices and bolster a weak local peso currency, was confirmed a day later by the South American country’s central bank. 

Market Impact

Interest rates increased 600 basis points to 97%.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & FinanceFX & Fixed Income

Regions: Americas

Countries: Argentina

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 14, 2023 0 comment
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News

India’s Go First airline gains bankruptcy protection, lessors’ woes deepen

by DailyBriefers May 10, 2023
written by DailyBriefers

10 May 2023, 7:25 pm 1 minute

By Reuters News Agency

Reuters was first to report the news that a tribunal granted bankruptcy protection to India’s fourth largest airline Go First, bolstering chances of its revival but dealing a blow to lessors. The decision was keenly awaited by global leasing companies in Europe and elsewhere as the ruling now bars them from repossessing dozens of their Airbus A320neo planes from Go First due to a legal moratorium, setting the stage for prolonged court battles.

Market Impact

Go First’s woes will lead to higher lease premiums for Indian airlines. That could prove to be a pain point for the sector at a time when Indian Prime Minister Narendra Modi is touting the country’s emergence as an aviation powerhouse, with bigger rivals IndiGo (INGL.NS) and Tata Group’s Air India expanding aggressively. 

Article Tags

Type: Reuters Best

Sectors: Aerospace & Defence

Regions: AsiaEurope

Countries: India

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

May 10, 2023 311 comments
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News

China’s big four state banks to lower deposit rate ceilings

by DailyBriefers May 10, 2023
written by DailyBriefers

Business & Finance

10 May 2023, 7:21 pm 1 minute

By Reuters News Agency

Reuters exclusively reported that China has told its “big four” state-owned banks to reduce the ceiling on interest rates they pay on some deposits. The interest rate self-disciplinary mechanism, a top regulatory body overseen by the People’s Bank of China, urged lenders to lower ceilings on some personal and corporate deposits by 30 basis points (bps), effective on May 15.

Market Impact

China’s central bank does not set bank rates directly but guides them through the market-based mechanism, which comprises banks big and small. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & FinanceFinancial Services

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 10, 2023 0 comment
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News

Biden to sign defense pact in Papua New Guinea, with eyes on China

by DailyBriefers May 10, 2023
written by DailyBriefers

Politics

10 May 2023, 7:15 pm 1 minute

By Reuters News Agency

Papua New Guinea’s foreign minister exclusively shared with Reuters that U.S. President Joe Biden will sign defense and surveillance agreements with the island nation, cementing the strategic importance of the nation where Biden’s uncle died in World War II.

Market Impact

The measures will help protect Papua New Guinea’s natural resources from being illegally poached and stolen, particularly their fishing.

Article Tags

Topics of Interest: Politics

Type: Reuters Best

Sectors: Aerospace & Defence

Regions: AmericasAsiaOceania

Countries: ChinaPapua New GuineaUnited States

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

May 10, 2023 51 comments
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News

CICC Capital bans consulting firm Capvision after China crackdown

by DailyBriefers May 10, 2023
written by DailyBriefers

Business & Finance

10 May 2023, 6:45 pm 1 minute

By Reuters News Agency

Reuters exclusively reported that CICC Capital, a unit of leading Chinese investment bank CICC (3908.HK), has stopped using Capvision Partners’ services following an investigation into the “expert network” as part of Beijing’s crackdown on national security.

Market Impact

CICC Capital’s parent CICC was one of the underwriters for Capvision’s aborted Hong Kong IPO last year. CICC Capital manages private equity funds and fund of funds and had 360 billion yuan ($52 billion) of assets under management as of the end-2022, according to the parent’s website and 2022 annual report.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

May 10, 2023 1 comment
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News

Chevron aims to boost Venezuela oil output to accelerate debt recovery

by DailyBriefers May 10, 2023
written by DailyBriefers

Energy

10 May 2023, 6:37 pm 1 minute

By Reuters News Agency

Reuters exclusively reported that Chevron Corp’s (CVX.N) renewed oil operations in Venezuela will enter a new phase next month, boosting production with the goal of accelerating recovery of the $3 billion debt owed by the end of 2025.  

Market Impact

Chevron’s license broke a four-year U.S. prohibition on Venezuelan oil exports to the United States designed to oust President Nicolas Maduro. Even though the license bans any cash payments to Maduro‘s administration, it has helped Venezuela stabilize its currency by injecting U.S. dollars into its economy and benefited U.S. Gulf Coast refiners receiving the oil.

Article Tags

Topics of Interest: Energy

Type: Reuters Best

Sectors: Commodities & Energy

Regions: Americas

Countries: United StatesVenezuela

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

May 10, 2023 0 comment
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News

Turkey defers $600 million Russian energy payment under deal

by DailyBriefers May 10, 2023
written by DailyBriefers

Energy

10 May 2023, 6:34 pm 1 minute

By Reuters News Agency

Reuters exclusively reported that Turkey has deferred payment to Russia of a $600 million natural gas bill to 2024 – the first such postponement – under a deal announced last week that underlines deepening ties between Ankara and Moscow.  

Market Impact

Turkey’s energy import bill hit a record near $100 billion in 2022 and in the year to February it imported 39% of its total 53.5 billion cubic metres (bcm) of natural gas from Russia. 

Article Tags

Topics of Interest: Energy

Type: Reuters Best

Sectors: Commodities & Energy

Regions: EuropeMiddle East

Countries: RussiaTurkey

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

May 10, 2023 1 comment
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Recent Posts

  • Japan’s Rakuten plans new share issue to raise around $2.2 bln  

    May 15, 2023
  • Kioxia, Western Digital speed up merger talks as memory chip demand slumps   

    May 15, 2023
  • Turkey faces election runoff, Erdogan seen with momentum  

    May 15, 2023

Featured Posts

  • Japan’s Rakuten plans new share issue to raise around $2.2 bln  

    May 15, 2023
  • Kioxia, Western Digital speed up merger talks as memory chip demand slumps   

    May 15, 2023
  • Turkey faces election runoff, Erdogan seen with momentum  

    May 15, 2023

Guides & Tips

  • Japan’s Rakuten plans new share issue to raise around $2.2 bln  

    May 15, 2023
  • Kioxia, Western Digital speed up merger talks as memory chip demand slumps   

    May 15, 2023
  • Turkey faces election runoff, Erdogan seen with momentum  

    May 15, 2023
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