On Tuesday, according to a report from the Mint newspaper which cites sources familiar with the matter at hand, Walmart Inc is in talks with India’s Tata Group for a potential investment of up to $25 billion in its new “super app”. The new “super app could be launched as a joint venture between Tata…
On Wednesday, the CEO of Daimler-BAIC’s joint venture’s stated, he views the Chinese auto market in 2020 as “moderately positive”; his assessment is based on its April sales performance in China. Daimler-BAIC’s CEO Arno van der Merwe made the comments during a visit to the Beijing Benz Automotive Co’s plant. He did not comment on…
On Tuesday, Boeing Co stated, BBAM, a lessor, had ordered three 737-800 converted freighters to service the growing e-commerce market and the express sectors of the air cargo market. The planes, which will be converted, will come from BBAM’s existing fleet. “This agreement shows how we can serve our customers by delivering efficient and reliable…
On Wednesday, Mercedes-Benz and Zhejiang Geely Holding Group Co Ltd stated, they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build “premium and intelligent electrified” vehicles under the smart brand. The 50:50 joint venture has already got regulatory approval and will be based in the Chinese coastal city of Ningbo,…
In a statement, South Korea’s LG Chem and General Motors Co disclosed, they plan on investing $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio, in what is stated to be one of the biggest battery facilities in the world. The plant, which will be built near GM’s closed assembly…
On Thursday, Japan’s Panasonic Corp stated it will sell its loss-making chip business to Taiwan’s Nuvoton Technology, reported Nikkei Asian Review. According to the report, Panasonic is also slated to divest three Japanese chipmaking facilities of TowerJazz Panasonic Semiconductor – a joint venture with Israel’s Tower Semiconductor. The development comes midst the U.S.-China trade war which…
This is not the first time that activist investor Carl Icahn has tried to orchestrate a deal by having a relatively smaller company buy a bigger one. According to three sources familiar with the matter at hand, U.S. printer maker Xerox Holdings Corp has made a $33 billion cash-and-stock offer to acquire personal computer maker…
RedDoorz is faces strong competition from Softbank-backed OYO. RedDoorz, a Singaporean hotel booking and management platform, has raised $70 million in its ongoing funding round. This is its second funding round so far in 2019. Asia Partners, a Singaporean private-equity firm is leading the funding round, which also saw the participation of Mirae Asset-Naver Asia…
Renault move is aimed at tapping China’s growing electric vehicles market. In a deal which sees French carmaker Renault taking a 50% stake, the carmaker has formed a joint venture partnership with China’s Jiangling Motors Corporation Group (JMCG) to target the Chinese electric vehicles (EV) market. In a statement Renault said, it would increase its…
Toshiba’s NAND flash memory plant will resume full production from mid-July. On Friday, Toshiba Memory Corp, the world’s second-biggest NAND flash memory producer stated its plant in central Japan will resume full production by mid-July. Toshiba had partially suspended the plant on June 15, following a brief power outage in the region. The suspension also…
business-gurus.com 