Xiaomi Eyes $1 Billion from Bond Sale
(Bloomberg) Chinese smartphone maker Xiaomi Corp. is set to generate some $1 billion from a fresh bond offering, as tech firms face a crackdown in its home country. Sources close…
Nintendo Unveils Upgraded Switch Game Console
(Nintendo.com) Nintendo has unveiled a new Switch game console with a more colorful and brighter OLED screen. The new version of Switch game console will retail at $349.99 starting on…
Wise Valued at $11 Billion in Direct Listing — A Big Win in London
(CNBC)The British fintech company Wise starts off strongly in its highly anticipated IPO, which gave the company a market valuation of $11 billion. The money transfer company chose to list…
Pentagon Cancels Microsoft-only $10B JEDI Contract. Fresh Award to Include Amazon
(Bloomberg) The $10 billion JEDI cloud computing contract with Microsoft has been canceled, and the tech giant will be joined by Amazon.com in a new award. The US Defense Department…
Tencent Revamps Investment in Gaming Firms to Keep off Rivals
(Yicai) Mobile game vendor Tencent Holdings invested in at least one gaming company every seven days to keep off competitors. The Chinese internet giant, which ranks as the world’s largest…
Retail Trade Jumps by More than 4% in May in the Euro Area and EU
(Eurostat) Retail sales in the EU and euro area surpassed projected 4.4% growth to post an expansion of 4.6% in May. The jump in retail sales in May follows a…
Didi Ignored Requests by China to Delay IPO amid Network Security Issues
(WSJ) Requests by Chinese cybersecurity regulator to delay Didi’s US listing and allow a thorough self-examination of the company’s network security were ignored. Didi went ahead with the US Initial…
India’s Service Sector Extends Contractions as Index Plunges to 41.2 in June
(IHS Markit) India’s service sector showed less signs of recovery from Covid-19, with the activity index falling further to 41.2 in June, from 46.4 in May. The decline in business…
Easing of New Export Orders Pushes China’s Services Growth to a 14-Month Low
(Caixin Global) China’s Caixin Services Purchasing Managers’ Index plunged to 50.3 in June, the lowest level in 14 months. The plunge reflected slowdowns in new export order expansion. The services…
NFP Employment Jumps by 850,000 — Unemployment Rate More than Expected at 5.9%
(Bureau of Labor Statistics) US nonfarm payroll jobs rose by 850,000 in June, more than an estimated 706,000. The unemployment rate rose to 5.9%, more than the projected 5.6%. The…
Galactic’s Branson Schedules Space Flight on July 11 Ahead of Bezos
(WSJ) Virgin Galactic’s Richard Branson plans to board a space flight on July 11, nine days ahead of Amazon’s Jeff Bezos. Branson’s planned space flight would occur subject to technical…
Alibaba’s Jack Ma and Joe Tsai Uses Personal Holdings to Secure Loans from Banks
(Financial Times) Alibaba’s largest individual shareholders Jack Ma and Joe Tsai will use part of their combined $35 billion stake in the company to secure financing from banks. The share…
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