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Reuters 2 minute read Renesas Electronics Corp s logo is seen at a company conference in Tokyo, Japan, April 11, 2017. REUTERS/Toru Hanai Japan s Renesas Electronics Corp (6723.T) said it will raise 218.5 billion yen ($1.99 billion) through a new share issue to help the automotive semiconductors maker fund its planned $6 billion purchase of Dialog Semiconductor (DLGS.DE). In February, Renesas announced the acquisition of the Anglo-German chip designer and Apple Inc (AAPL.O) supplier in a bid to tap the growth in assisted driving technology and the roll out of broadband 5G networks that could spur connectivity across smart devices. The two companies had been cooperating in automotive computing platforms since August. ....
Concise insights on global finance. - IMITATION GAME. Activists are trying to turn the tables on corporate agitator Dan Loeb at his London investment vehicle. Asset Value Investors, which owns 10% of Loebâs $858 million Third Point Offshore Investors (TPOGu.L), has criticised a lacklustre plan to raise the fundâs uninspiring valuation. They have a point: shares trade at a 14% markdown to net asset value, a discount which has broadly persisted over the past five years. By contrast, AVI claims the median NAV discount for comparable London-listed closed-end funds is just 4%. Loeb at least recognises the problem. In April Third Point put forward a plan to reduce the discount to 7.5%. But measures including adding extra leverage and increasing the proportion of assets in unlisted private equity are unconvincing. And two proposed offers to buy back shares at a mere 2% discount to NAV would only take place in 2024 and 2027. Such weak suggestio ....
Reuters 4 minute read FILE PHOTO: People line up outside a newly reopened career center for in-person appointments in Louisville, U.S., April 15, 2021. REUTERS/Amira Karaoud 1/PRIME TIME PAYROLLS How fast is the U.S. recovery? Friday s U.S. monthly jobs report will add fuel to the debate. In April, U.S. job growth unexpectedly slowed, possibly because of shortages of workers and raw material. Non-farm payrolls added a mere 266,000 jobs compared to predictions for more than 3-1/2 times that. Optimism over jobs has offset concerns about rising inflation and diminishing government financial support, lifting May U.S. consumer confidence to a 14-month high. ....
Nvidia Corp (NVDA.O) forecast second-quarter revenue above analysts' estimates on Wednesday, but shares fell 1% after-hours as the company could not say for certain how much of its recent revenue rise was driven by the volatile cryptocurrency-mining market. ....