Deals

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China. © Reuters

Softbank to sell $7.9 billion of Alibaba shares

Softbank Group said it will sell at least $7.9 billion of shares in Chinese ecommerce giant Alibaba Group Holding Ltd as it looks to raise capital.Shares of Alibaba were down more than 2 percent in extended trading on Tuesday after Softbank announced...

  • Taiwan's SPIL gains on news of deal with larger rival

    HONG KONG -- Siliconware Precision Industries (SPIL) has reached its highest level yet this year following last Thursday's announcement of plans to join forces with fellow Taiwanese company Advanced Semiconductor Engineering.SPIL is the world's third...

  • HNA flies swiftly with Virgin Australia, Air France-KLM, TAP Portugal deals

    HONG KONG -- Acquisitive Chinese tourism conglomerate HNA Group is building its aviation empire at full throttle. The company, based in the southern Chinese island of Hainan, is set to scoop up three aviation-related assets in Europe and the Asia-Pac...

  • Exclusive

    Nippon Steel seeks to carve up Brazil's Usiminas

    TOKYO -- Nippon Steel & Sumitomo Metal intends to hold talks on dividing the production assets of struggling Brazilian affiliate Usiminas with Ternium, a fellow shareholder with which the Japanese steelmaker disagrees over plans for turning the unit ...

  • K-pop manager YG inks Chinese distribution deal with Tencent

    SEOUL -- Tencent Holdings and mobile ticketing provider Weiying will invest $85 million in South Korea's YG Entertainment in a deal aimed at tapping China's electronic entertainment market with existing and original content.The Chinese duo locked in ...

  • AIA, Prudential, others weigh bids for Thai SCB's insurance unit stake -- sources

    SINGAPORE/HONG KONG (Reuters) -- AIA Group and Britain's Prudential PLC are among insurers considering bids to buy at least 49 percent of the $3 billion insurance unit of Thai lender Siam Commercial Bank (SCB), people with direct knowledge of the mat...

  • Virgin Australia says China's HNA Aviation to buy major stake

    SYDNEY (Reuters) -- Virgin Australia on Tuesday said China's HNA Aviation group will buy up to a fifth of the airline to tap into the rapidly growing tourism market between the two countries.Virgin said HNA Aviation Group, the largest private operat...

  • Japanese-style eldercare to debut in Malaysia

    TOKYO -- The Japanese government and a nursing care company will team to offer senior care in a Kuala Lumpur suburb this fall as Tokyo targets a rapidly aging Asia.The Cool Japan Fund, a public-private entity, will provide financing needed to operate...

  • PLDT, Globe cement duopoly in Philippine telecom despite antitrust concerns

    MANILA -- In a surprise move on Monday, bitter rivals Philippine Long Distance Telephone and Ayala Corp.-led Globe Telecom joined forces to buy out San Miguel's telecommunications business.PLDT and Globe each acquired 50% stake in Vega Telecom, which...

  • Tencent to buy into K-pop manager YG Entertainment

    SEOUL -- Chinese internet giant Tencent Holdings and mobile ticketing company Weiying Technology will invest a total of $85 million in South Korea's YG Entertainment.YG's founding family will sell some stock as part of the deal, with the remainder to...

  • Airbnb teams with bookstore chain to raise profile in Japan

    TOKYO -- Airbnb, a U.S.-based operator of a rental accommodations website, has formed a tie-up with Culture Convenience Club to try to boost its presence and name recognition in Japan.The Japanese company, which runs the Tsutaya chain of bookstores a...

  • China's Zoomlion abandons talks with U.S. crane maker Terex

    HONG KONG (Reuters) -- Zoomlion Heavy Industry Science and Technology Co Ltd said on Friday it has terminated stake sale talks with U.S. crane maker Terex Corp, the latest blow to corporate China's growing ambitions to acquire U.S. assets.The move co...

  • Qualcomm sells entire stake in Sharp

    OSAKA -- Qualcomm has sold all of its shareholdings in Japanese consumer electronics manufacturer Sharp, The Nikkei learned Friday. The leading U.S. semiconductor maker had an equity stake of 2.48% in Sharp as of the end of March 2015, when its was t...

  • Isuzu, Hino joining forces on autonomous truck driving

    TOKYO -- Isuzu Motors and Hino Motors will team up to develop a system that supports convoys of self-driving trucks, an innovation that is expected to address Japan's chronic shortage of commercial drivers. The so-called intelligent transport syste...

  • Toyota partners with Uber to keep up with changing market

    NAGOYA -- Toyota Motor made a splash Wednesday by announcing a partnership with Uber Technologies, the U.S. operator of the world's most ubiquitous ride-hailing app. However, whether auto companies can benefit from the rapid changes to their industry...

  • Tata Steel does not want to rush UK asset sale

    MUMBAI -- Some of the potential buyers for Tata Steel's ailing U.K. assets have sought more time from the company to submit their final bids, the deadline for which passed Monday.Tata Steel Group Executive Director Koushik Chatterjee told reporters h...

  • Japan's JT negotiating 40% stake in Ethiopian tobacco monopoly

    TOKYO -- Japan Tobacco is in talks to invest in Ethiopia's National Tobacco Enterprise after placing the top bid for a 40% stake in the state-owned company.JT, which operates in more than 120 markets and ranks third in global tobacco market share, wo...

  • Japan's pharma, academia teaming up to discover meds

    TOKYO -- Six Japanese drugmakers will work with research organizations providing cell and tissue samples to discover new pharmaceuticals such as cancer immunotherapies and depression treatments.Around 3 billion yen ($27.2 million) will be put into dr...

  • Big automakers teaming up with ride-hailing apps

    NAGOYA/FRANKFURT -- Global automakers are increasingly teaming up with ride-hailing services in a bid to secure revenue as consumers' buying habits are changing in an app-fueled, ride-booking world. On Wednesday, Toyota Motor said it will partner wit...

  • Japanese wholesaler to team with Malaysian partner on halal imports

    TOKYO -- A Kyushu-based food wholesaler will work with Southeast Asian companies to import halal food into Japan, aiming to meet the needs of a growing number of visitors from the Islamic world.Yamae Hisano will enter into a business tie-up with Dewi...