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Panasonic says it’s open to working with Tesla on China factory

TOKYO: Panasonic Corp said it’s open to teaming up with Tesla Inc on the US carmaker’s plan to build a factory in Shanghai.

Uniqlo owner’s overseas expansion bears fruit

TOKYO: Fast Retailing Co’s steady expansion in overseas markets, now headlined by the face of Roger Federer, is bearing fruit even in the face of risks from an escalating trade spat.

Review of renewable energy contracts likely

PETALING JAYA: Many renewable energy (RE) contracts may be up for review after the Energy, Green Technology, Science and Climate Change Ministry decided to cancel four independent power producer (IPP) contracts that had been awarded under the previous administration.

Steinhoff seeks backing for debt restructuring deal

LONDON: Steinhoff International Holdings NV began seeking sign-off from lenders for a debt restructuring plan that would support the South African retailer’s balance sheet for three years and prevent a potential collapse.

Comcast boosts Sky bid

LONDON: Comcast Corp increased its takeover bid for Sky Plc to US$34bil, topping an offer from Rupert Murdoch’s 21st Century Fox Inc and escalating a global standoff between the media giants.

Deutsche Bank names Chung to head Asia equities

HONG KONG: Deutsche Bank AG appointed Richard Chung as head of equities for the Asia-Pacific region, filling a key position as it overhauls its stock business in a bid to revive profit.

BMW to own majority stake in China car venture

BEIJING: BMW AG stands to become the first foreign car manufacturer to own a majority in a Chinese joint venture, showing Beijing is following through on a pledge to increasingly open up the economy to global corporations.

Broadcom loses US$19bil in market value after bid to buy CA

NEW YORK: Chipmaker Broadcom Inc's surprise bid to buy software company CA Inc for US$18.9 billion wiped off the same amount from its market value on Thursday, with investors and analysts struggling to find a clear reason for the deal.

Singapore's GIC flags lower long-term returns in tough investment climate

SINGAPORE: Singapore sovereign wealth fund GIC has trimmed its exposure to developed market equities such as U.S. stocks over the past year on high valuations, and cautioned it expects lower long-term returns in an uncertain investment climate.

Wall St. bounces back; technology, industrials lead

NEW YORK: U.S. stocks climbed on Thursday as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before.