BionicM aims to address the shortcomings of conventional artificial limbs with its robot-assisted, high-performance limbs.
BionicM aims to address the shortcomings of conventional artificial limbs with its robot-assisted, high-performance limbs.
South Korea's Hyundai Motor Group said on Wednesday it will introduce an electric vehicle-only platform early next year that will use its own battery technology to cut production time and costs. The plan underscores efforts by the world's No.5 auto group to become a major player in the global EV market, as car makers around the world are pouring billions of dollars of investment to improve battery technology, which keeps EV prices high compared with combustion engine models. Market leader Tesla said in September it aims to halve the cost of its EV batteries and bring more production of the key auto component in-house to lower EV prices to $25,000 each.
Sally Beauty Holdings, Inc. (NYSE: SBH) ("the Company") today announced it will participate in the Morgan Stanley Virtual Global Consumer and Retail Conference. The Company will be presenting at 3:00 PM ET on December 2, 2020. Presenters will include Chris Brickman, President and Chief Executive Officer, and Marlo Cormier, Chief Financial Officer. The presentation will be webcast live at the following link SBH Webcast.
(Bloomberg) -- Xiaomi Corp. said trading of its Hong Kong shares will resume Wednesday, after being halted all morning due to the company’s failure to disclose the city’s biggest-ever top-up placement in time.In a statement filed to the local exchange during the market’s midday break, China’s No. 2 smartphone maker said it would sell 1 billion shares at HK$23.70 apiece, raising $3.1 billion. That represents a 9.4% discount to its last closing price of HK$26.15. The halt was first announced without explanation around 9 a.m. local time, just after the start of Hong Kong’s premarket auction. Trading will resume at 1 p.m. local time.The company’s failure to announce the stock sale in time for the market open came as a surprise to some participants. The episode comes about a month after Hong Kong was rattled by an abrupt decision by Chinese regulators to yank Ant Group Co.’s planned initial public offering, which would have been the largest ever.“It’s definitely unusual because other companies which had share placements usually file the official announcements soon after pricing,” said Castor Pang, head of research at Core Pacific-Yamaichi International Hong Kong. Wednesday’s premarket auction showed the stock trading as low as HK$24.50, implying a drop of 6.1%. Hong Kong’s stock exchange requires a company to apply for a trading halt if certain inside information has been made public before an official disclosure.Xiaomi also proposed the sale of convertible bonds, raising a net $889.6 million. The proceeds will add to a war chest aimed at helping the company grab market share from competitors such as Huawei Technologies Co.Xiaomi shares have rallied 143% this year, though they slipped from a high last month after the company said its internet services revenue had grown at its slowest pace in three years in the quarter ended September. Xiaomi grabbed market share from Huawei when American sanctions deepened particularly in overseas markets from Europe to India.Credit Suisse Group AG, Goldman Sachs Group Inc, JPMorgan Chase & Co. and Morgan Stanley arranged Xiaomi’s offering.(Updates with trading resumption throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Conveyor Sorting Systems Market by End-user, Solution, and Geography - Forecast and Analysis 2020-2024 is now available at Technavio
SHENZHEN, China, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (NASDAQ: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, announces that its board of directors (the “Board”) had considered and approved the following items: 1. The acquisition (the “Likeshuo Management Investment”) of 15% of newly issued shares of LIKESHUO EDUCATION (HONG KONG) LIMITED (“Likeshuo HK”) by certain senior members of the management of the Likeshuo online business and the reservation (the “Likeshuo ESOP Reservation”) of 5% of shares of Likeshuo HK for future share incentive awards. The consideration in respect of the Likeshuo Management Investment and Likeshuo ESOP Reservation consists of (i) RMB20.0 million cash consideration payable from the relevant Likeshuo management’s personal funds; and (ii) satisfaction of certain performance targets for the Likeshuo online business. The cash consideration was determined based on the valuation of the Likeshuo online business, at approximately RMB301.2 million, as conducted by an independent third-party valuer. In addition to engaging an independent third-party valuer for the aforementioned valuation, the Company also formed a special committee consisting of independent directors (being the Company’s audit committee) to review and approve the Likeshuo Management Investment and Likeshuo ESOP Reservation prior to Board approval. Immediately after the completion of the Likeshuo Management Investment and Likeshuo ESOP Reservation, Meten EdtechX will hold an 80% indirect interest in Likeshuo HK on a fully diluted basis; and 2. An expansion of the Company's option pool under its 2020 Share Incentive Plan to 3.5% of the total issued and outstanding ordinary shares of the Company for each year starting from January 1, 2020, compared to 1% previously. For investor and media enquiries, please contact: Citigate Dewe Rogerson firstname.lastname@example.org +44 (0)20 7025 6400About Meten EdtechX Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.
Building Maintenance Services market research report from SpendEdge indicates an incremental growth by USD 171 billion during the period 2020-2024.
(Bloomberg) -- Japanese consumer lender Aiful Corp. sold bonds with the world’s lowest coupon for a junk-rated issuer this year, as record low rates amid the pandemic redefine what high yield means.Aiful priced 15 billion yen ($144 million) of 1.5-year notes with a coupon of 1%, according to Nomura Securities Co., one of the underwriters. It’s the second-ever junk bond offered publicly in Japan’s local credit market, after Aiful priced the first such security last year at a lower coupon at 0.99%.Unprecedented stimulus from central banks amid the pandemic has dragged down rates, and left investors clamoring for debt that may help increase returns. The average yield on high-yield bonds globally has fallen 85 basis points this year to an all-time low of 4.83%, according to a Bloomberg Barclays index. A comeback in even the riskiest junk securities is gaining ground, narrowing the gap between lower-rated and higher-quality debt.Aiful, which teetered on the edge of bankruptcy a decade ago, has speculative-grade scores from local credit rating firms. The lender’s junk debt offerings are still the exception that proves the rule in Japan, where companies haven’t felt compelled to sell speculative-grade notes as they’ve traditionally found it easy to obtain bank loans.Read more about Japan’s nascent junk bond market hereAsiaAsian dollar bond spreads and credit-default swaps tightened Wednesday, with spreads on high-grade notes narrowing about 3 basis points, according to traders. That’s the biggest daily decline in three weeks, according to a Bloomberg Barclays index.The Philippines is jumping back into the strong credit markets, starting to market what would be its second dollar bond this yearDespite the recent strengthening of investor risk appetities, longer-term pitfalls remain. S&P Global Ratings sees a “significant risk” that more banks in Asia Pacific will join the list of fallen angels -- companies downgraded to speculative grade from investment grade -- in the next two yearsU.S.CCC bonds, which were in distressed territory for the better part of 2020, have steadily rallied since the worst days of the pandemic.The difference between their spreads and those of the next rating tier up -- B rated bonds -- is now 316 basis points, near the tightest level in two yearsInvestment firm Castlelake signed an agreement with Boeing to provide as much as $5 billion of financing to airlines and other companies looking to buy planes from the aerospace manufacturerEuropeGauges of default risk for high-quality and sub-investment grade companies in Europe retreated Tuesday to levels last seen in February before the coronavirus took hold.The upbeat mood prompted eight issuers to bring deals to Europe’s market for new syndicated bondsThat included a euro-denominated offering from energy giant BP Plc(Adds global credit wrap context)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Cricket Australia and the A-League are the big winners of the NSW Government's eased COVID-19 restrictions, with major stadiums now back to full capacity.
The Houston-based company in August filed for Chapter 11 bankruptcy, joining a list of brick-and-mortar retailers succumbing to the hit from the COVID-19 pandemic. Tailored Brands said on Tuesday it now operates with a capital structure that includes an exit term loan of $365 million, which it expects will support its ongoing operations and strategic initiatives.
A sexual harassment case against a powerful Chinese media figure begins in Beijing on Wednesday, with his accuser calling it a major moment in the country's still-young #MeToo movement.
The Australian economy grew 3.3 per cent in the September quarter, signalling the nation has pulled out of its first recession in nearly three decades.
A photographer claims he knows what happened to the monolith after it disappeared – and he has the pictures to prove it.
Technavio has announced its latest report titled Automotive Power Window Motor Market by Application and Geography - Forecast and Analysis 2020-2024
(Bloomberg) -- The U.S. should ratchet up its demands of China to include equal access for companies and media, stricter monitoring of Beijing’s activities at the United Nations and preventive action to safeguard American interests in technology and finance, a bipartisan panel told Congress on Tuesday.A 575-page report by the U.S.-China Economic and Security Review Commission -- created by Congress to track and anticipate threats from China -- characterized the world’s second-largest economy as a threat to the current international order that has American values at its core. It added China’s leaders view those values as a barrier to the country’s external ambitions and an existential threat to their rule.“Chinese leaders’ assessment of the United States as a dangerous and firmly committed opponent has informed nearly every facet of China’s diplomatic strategy, economic policy, and military planning in the post-Cold War era,” the panel said.Amid a continuing U.S. effort to roll back China’s dominance in next-generation 5G communications, the role of technology emerges as a clear theme throughout the annual report. The study said Beijing uses the establishment of technical standards as a way to “advance an alternative technological order.”It also warned that China’s effort at financial opening was part of a “calculated strategy” to secure foreign investment inflows and use them to shore up the domestic economy. This would increase exposure to unique risks in China’s financial system for foreign investors, the report said.“China is an adversary presenting unique and immediate threats to our economic and security interests,” Robin Cleveland, chairman of the commission, said in an opening statement. Cleveland said the report reflected “an understanding that the challenges posed by the Chinese Communist Party are not partisan – they are American concerns.”TikTok, Hong Kong and More U.S.-China Flashpoints: QuickTakeThe analysis also looked at areas including military capabilities, trade relations, public health and Covid-19-related issues, as well as Taiwan and Hong Kong.Beijing’s national security law for the former British colony had “significantly compromised” the rule of law and press freedom, the report found. “Under growing pressure from the CCP, the territory’s judicial system has been thrown into crisis as judges are compelled to adopt mainland legal principles and CCP positions,” the report said, referring to the Chinese Communist Party.China’s Foreign Ministry didn’t immediately reply to a request for comment on Wednesday morning. Last year, in response to a similar report from the commission, then Foreign Ministry spokesman Geng Shuang said the panel was “deeply entrenched in prejudice against China,” adding that its reports were “rarely based on facts.”A statement Wednesday from Hong Kong’s government described the report as “yet another example” of U.S. interference in Hong Kong’s affairs, using “democracy and self-determination as an excuse.” The statement continued, saying “such groundless and unjust political maneuvers will achieve nothing but undermining Hong-Kong-U.S. relations and hurting the U.S.’s own interests.”Competition between the U.S. and China had intensified under the leadership of President Xi Jinping, the authors wrote, and they argued that the time for action is now.China Becomes a Bigger Mark on NATO Radar Screen With New Report“If Beijing succeeds in normalizing its views of governance, the result could undermine individual rights around the world,” the commission said. “Underestimating Beijing’s intent to revise the international order based on its current capabilities risks delaying a response until it is already too late to preserve the liberal international order.”The report makes 19 recommendations, highlighting 10 of those as being of “particular significance.” They include urging that the U.S. Congress:Adopt the principle of “reciprocity” in all legislation related to U.S.-China relations.Expand the authority of the Federal Trade Commission to monitor and take foreign government subsidies into account when looking at company mergers.Direct the State Department to produce an annual report detailing China’s actions in the UN and its agencies that subvert the principles and purposes of the organization.Consider establishing a “Manhattan Project”-like effort to ensure that the U.S. public has access to safe and secure supplies of critical drugs and medical equipment.Enact legislation establishing a center on China economic data inside the Commerce Department.Direct the White House to sanction the parent of any entity in China sanctioned over actions contrary to the economic and national security interests of the U.S. or for violations of human rights.Consider enacting legislation to make the de facto U.S. ambassador in Taiwan a presidential nomination subject to the advice and consent of the Senate.Direct the Administration to identify and remove barriers for Hong Kong residents to get U.S. visas if they are attempting to exit Hong Kong out of fear of political persecution.(Updates with Chinese Foreign Ministry details in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
ZoomInfo Technologies Inc. ("ZoomInfo") today announced that certain selling stockholders of ZoomInfo, including investment funds affiliated with TA Associates ("TA"), The Carlyle Group ("Carlyle") and 22C Capital LLC (together with TA and Carlyle, the "Selling Stockholders"), have priced the previously announced underwritten public offering of 12,500,000 shares of ZoomInfo’s Class A common stock at a price to the public of $45.00 per share. The Selling Stockholders have granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,875,000 shares of ZoomInfo’s Class A common stock. The offering is expected to close on December 4, 2020, subject to customary closing conditions.
New Zealand Prime Minister Jacinda Ardern declared a "climate emergency" on Wednesday, telling parliament that urgent action was needed for the sake of future generations.
Hill's candid response to a question about Patrick Mahomes was most certainly not expected.
Daniel Andrews is not reconsidering Victoria's Belt and Road Initiative agreement with China, despite tensions between Canberra and Beijing.
British actor Laurence Fox has been vocal about flouting the current UK lockdown.
Former West Australian cabinet minister Dean Nalder will not contest the March state election after failing to win the support of his Liberal colleagues.