Financial News · Live Terminal

Page 993 of 3264

Alibaba Takes US Government to Court Over Military Ties Allegation

Alibaba (HKG:9988) has sued the U.S. government seeking removal from a Pentagon list of companies alleged to have links to China's military, according to a court filing Tuesday.The lawsuit, filed in federal court in San Jose, California, challenges the U.S. Department of Defense's decision to add Alibaba to its list of "Chinese military companies" earlier this month.The Pentagon alleged that Alibaba is a "military-civil fusion contributor" to China's defense industrial base through ties to the Ministry of Industry and Information Technology and an indirect affiliation with SASAC, China's state-owned assets regulator.Alibaba said the designation has "no basis in fact or law," arguing that it is governed by an independent board and that its products and services are focused on retail, logistics, and enterprise technology rather than military applications.The Chinese technology giant argued that the designation exposes it to broader U.S. restrictions and state divestment initiatives, while fueling calls to remove it from U.S. exchanges and supply chains.The company said the designation has already caused reputational and commercial harm by undermining confidence among its U.S. partners.

HKG:9988

Asia39d ago

Polymetals Resources Confirms Broad Zones of High-Grade Mineralization at New South Wales Mine

Polymetals Resources (ASX:POL) confirmed broad zones of high-grade silver-lead-zinc mineralization in the upper Main Lode at its Endeavor Mine in New South Wales, according to a Wednesday filing with the Australian bourse.The first 12 underground diamond holes of the 34-hole campaign intersected 45 meters at 197 grams per tonne (g/t) silver, 8.9% zinc, 11% lead and 0.2% copper, and 33 meters at 209 g/t silver, 9.9% zinc, 8.1% lead and 0.2% copper, the filing said.The underground drilling program will continue to improve geological confidence, assess continuity of mineralization and support evaluation of potential mining opportunities within the area, per the filing.Shares rose nearly 2% in morning trade Wednesday.

ASX:POL

Asia39d ago

Avecho to Continue With Full Enrollment in Insomnia Trial After Positive Data Monitoring Board Recommendation; Shares Hit 5.5-Year High

Avecho Biotechnology (ASX:AVE) said an independent data monitoring board recommended that the company's phase 3 clinical trial evaluating TPM-enhanced cannabidiol capsule for insomnia continue to the full planned enrolment of 519 participants, according to a Wednesday filing with the Australian bourse.The data monitoring board issued the recommendation following an interim analysis that showed no serious adverse events across 244 initial participants."The interim analysis represents a major value-inflection point for the program, reducing clinical development risk and providing a defined pathway toward completion of the pivotal study," the company said.Avecho added that it has already identified additional clinical sites to speed up the recruitment of the second patient cohort.The company's shares gained 33% in recent Wednesday activity and earlier hit their highest since December 2020.

ASX:AVE

Asia39d ago

Japanese Stocks Slip Amid Regional Sell-Off as AI Rally Concerns Deepen

Japanese equities slid to open lower on Wednesday amid a broader regional downturn fueled by worries that the AI-driven rally may have overheated.The Nikkei 225 fell 173.3 points or 0.2% to open at 69,615.08.The divergence followed a sharp selloff across Asia on Tuesday, which saw South Korea's Kospi trigger a circuit breaker amid the US tech rout.Elsewhere, Brent crude continued its decline to settle at just above $76 as tanker traffic through the Strait of Hormuz increased following an interim US-Iran peace agreement.

Nikkei 225

Asia39d ago

Rumble Resources Upgrades Western Australia Project's Mineral Resource Estimate; Shares Up 5%

Rumble Resources (ASX:RTR) upgraded the gold mineral resource estimate at the Western Queen project in Western Australia to 5.1 million tonnes at 2.6 grams per tonne grade of gold for a total of 433,600 ounces, according to a Wednesday filing with the Australian bourse.The previous mineral resource estimate was 3.7 million tonnes at 3.1 g/t grade of gold for 370,000 ounces, a separate filing in July 2025 said.The upgraded resources will be incorporated into an updated mining schedule, which will feed into the bankable feasibility study to be delivered in the September quarter, per the filing.Shares rose 5% in morning trade on Wednesday.

ASX:RTR

Asia39d ago

Recce Pharmaceuticals Requests Trading Halt Ahead of Equity Raise

Recce Pharmaceuticals (ASX:RCE) requested an immediate trading halt on the Australian Securities Exchange pending an update on a proposed equity capital raising, according to a Wednesday Australian bourse filing.The company has requested that the halt remain in place until the earlier of Friday's normal trading session or release of the capital raising update, the filing added.

ASX:RCE

Asia39d ago

Aurizon Holdings' UT5 Plus Gains Queensland Competition Authority Preliminary Backing

Aurizon Holdings' (ASX:AZJ) 2025 UT5 Draft Amending Access Undertaking has received broad preliminary backing from the Queensland Competition Authority (QCA), which said key elements are acceptable while further assessment is required before a final approval, according to a Wednesday Australian bourse filing.UT5 Plus was submitted in December 2025 with strong customer support, outlining access and pricing arrangements for the Central Queensland coal network covering the period from July 1, 2027 to June 30, 2037, per the filing.The QCA's draft decision supports key elements of the proposal, including the weighted average cost of capital methodology, accelerated depreciation, and throughput payments, but withholds approval pending further consultation due to concerns over the operating expenditure allowance, the filing said.The regulator has called for stakeholder submissions by Aug. 20 and outlined steps for the company to resolve outstanding issues before its final approval, the filing added.

ASX:AZJ

Asia39d ago

Nickel Industries to Acquire 36% Stake in Indonesian HPAL Project in Share-for-Share Deal

Nickel Industries (ASX:NIC) struck a deal to acquire a 36% stake in an Indonesian high-pressure acid leach (HPAL) project as part of a long-term collaboration with its Indonesian partner in nickel ore mining, according to a Wednesday filing with the Australian bourse.Indonesian investor PT Jaya Agung Investasi has rights to acquire 85.7% of the equity in the HPAL project. Nickel Industries and its partner will acquire these rights in exchange for a 30% stake in mine companies PT Abadi Nikel Nusantara and PT Erabaru Timur Lestari, per the filing.The share-for-share transaction values the two mine companies at about $1.34 billion and the HPAL project at $671 million, both on a pre-money basis.In May, Nickel Industries agreed to acquire a 60% equity interest in the two mine companies for an aggregate of $149 million.Nickel Industries said it is now effectively monetizing an 18% equity interest in the two mine companies, at an implied acquisition cost of $44.7 million, in return for an effective 36% stake in the HPAL project at an implied value of $241.6 million.After the deal, which is subject to regulatory approvals, Nickel Industries will continue to be the largest shareholder and operator of the mine companies with a 42% stake, followed by PT Jaya with 30% and its local partner at 28%.The HPAL project is under construction with a designed annual nameplate production of 28,357 nickel tonnes. Its commissioning is expected to start in mid-2027.Shares of Nickel Industries fell 2% in recent Wednesday trade.

ASX:NIC

Asia39d ago

Market Chatter: Singapore's Foundation Healthcare Eyes SG$242 Million IPO

Singapore-based Foundation Healthcare is eyeing to make its debut on the Straits Times Index (STI) in an initial public offering valued at SG$242 million, Reuters reported Tuesday, citing a term sheet.The private healthcare group plans to price its shares between SG$0.76 and SG$0.92 each, which could generate a market capitalization in the range of SG$1.01 billion to SG$1.20 billion. The shares are expected to commence trading on the STI on July 8, the report said.The IPO includes about SG$118 million in shares earmarked for cornerstone investors, including Amova Asset Management Asia, Aregence Capital, Granite Asia, Hood River Capital Management, IFC, Lion Global Investors, Manulife Investment Management, Openspace Capital, RBC Global Asset Management, and UBS, according to the report.Foundation Healthcare did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^STI

Asia39d ago

Canadian Phosphate to Conduct Follow-On Placement

Canadian Phosphate (ASX:CP8) agreed to conduct a follow-on placement to raise a further AU$350,000 at AU$0.14 per share after securing about AU$5 million under its renounceable rights issue, according to a Wednesday filing with the Australian bourse.The total amount raised will be roughly AU$5.2 million upon completion of the follow-on placement, with the company issuing 37.2 million shares and 18.6 million new options exercisable at AU$0.25, expiring June 26, 2028, the filing said.Proceeds will be used for the development of the company's phosphate assets in Canada and the US, per the filing.

ASX:CP8

Asia39d ago

Market Chatter: Japan Share Buybacks Hit Record 16.2 Trillion Yen in Early 2026

Japanese listed companies launched 16.2 trillion yen in buybacks in the January-May period, up 34% year over year and a record for the period, driven by cross-shareholding unwinding and capital reforms, Nikkei Asia reported Monday, citing its own analysis.Although the number of companies initiating programs fell 14% to about 620, large-scale repurchases inflated the total value, which reached 16.4 trillion yen as of Friday, the news daily said.Major players like Sony Group (TYO:6758) and Hitachi (TYO:6501) each unveiled 500 billion yen buybacks amid record profit projections, while Daikin Industries (TYO:6367) repurchased 350 billion yen, the publication said.KDDI (TYO:9433) also executed a 300 billion yen buyback, with 250 billion yen through a tender offer to acquire shares from Toyota (TYO:9433) and Kyocera (TYO:6971), who sought to offload their cross-holdings, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:6367TYO:6501TYO:6758TYO:6971TYO:7203TYO:9433

Asia39d ago

Market Chatter: Rakuten Teams with AST SpaceMobile in Satellite JV to Take on Rivals Using SpaceX

Rakuten Group (TYO:4755) is forming a roughly equal satellite joint venture with AST SpaceMobile this year, with Rakuten leading management, Nikkei Asia reported Wednesday, citing CEO Hiroshi Mikitani in a recent interview.The new venture will directly compete with Japan's three major carriers that rely on SpaceX technology, the news daily said.Mikitani told Nikkei that the investment would not be substantial and would not strain finances, although he did not disclose the amount.The satellite-to-smartphone service will launch in phases from late this year, reaching nationwide coverage in fiscal 2027, with potential global expansion through the new entity, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:4755

Asia39d ago

Iron Bear Resources Receives Fourth Tranche Payment of $2 Million From Vale, Shares Up 3%

Iron Bear Resources (ASX:IBR) said Vale has paid the fourth tranche of $2 million toward its phase 1 contribution under the binding development agreement for the Iron Bear iron ore project, according to a Wednesday Australian bourse filing.The company said its subsidiary Iron Block 103 Corporation currently holds AU$3.6 million in cash to develop the Iron Bear project, with Vale having contributed $16.7 million to advance the project, and the last tranche of $1.3 million expected to be received in July.The company's shares rose 3% in recent Wednesday trade.

ASX:IBR

Asia39d ago

Trial Secures 367.4 Billion Yen Syndicated Loan to Refinance Seiyu Acquisition Bridge Debt

Trial (TYO:141A) has finalized a syndicated term loan agreement with MUFG Bank as arranger to refinance the 317.4 billion yen bridge loan used for its July 2025 acquisition of Seiyu, according to a Tokyo bourse filing on Wednesday.The new facility consists of a 317.4 billion yen term loan and an additional 50 billion yen tranche, both with 10-year repayment periods and unsecured terms, featuring equal quarterly principal repayments starting in September.The agreement includes financial covenants requiring net assets to remain above 75% of the previous fiscal year's level and prohibiting operating losses for two consecutive periods.The company expects to record approximately 5.5 billion yen in arrangement fees as non-operating expenses for fiscal 2026, though this has already been factored into its earnings forecast, with plans to hedge interest rate risks through swap transactions.

TYO:141A

Asia39d ago

CATL Launches Sodium-Ion Batteries, China Deliveries Set For September

Contemporary Amperex Technology (SHE:300750, HKG:3750) or CATL has unveiled TENER Sodium Energy Storage, a new sodium-ion battery product, in Munich, Germany, according to a press release on Monday.CATL will begin initial deliveries of the new product in China in September, with total shipments expected to reach 1 GWh by the end of the year.International deliveries are slated to begin in June 2027.CATL is positioning sodium-ion batteries as an alternative to lithium-based batteries, as sodium is over 1,000 times more abundant than lithium and more widely distributed, the company said.

HKG:3750SHE:300750

Asia39d ago

SoftBank to Build AI Servers, Batteries at Former Sharp Plant Starting Fiscal 2027

SoftBank Corp. (TYO:9434) plans to begin manufacturing AI servers in Sakai by fiscal 2027, addressing domestic demand for locally produced AI infrastructure, President and CEO Junichi Miyakawa said at SoftBank's annual shareholders meeting on Tuesday.The company, which acquired the former Sharp plant in 2025, will oversee server design, assembly, and maintenance while leveraging industrial robots to minimize staffing needs, Miyakawa said.The Sakai facility will be hosting a battery production line and next-generation solar panels.SoftBank will launch cloud-based AI computing services in October and establish a U.S. test site by late fiscal 2026.

TYO:9434

Asia39d ago

Kaiser Reef Starts Surface Diamond Drilling at Victoria Gold Project

Kaiser Reef (ASX:KAU) said a surface diamond drilling campaign at its Maldon Gold Project in Victoria is underway, with drilling at the Quill gold target commenced, according to a Wednesday Australian bourse filing.The company said the initial phase comprises about 4,350 meters across four targets, with drilling expected to be extended and to continue throughout the remainder of the year, progressing to other targets, including Union Hill North and Nuggetty South.The company's shares fell 2% in recent Wednesday trade.

ASX:KAU

Asia39d ago

Echelon Resources Extends Kupe Gas Supply Deal With Genesis Energy

Echelon Resources (ASX:ECH) amended its gas supply agreement with Genesis Energy (ASX:GNE, NZE:GNE), extending sales of Kupe gas for an additional three years, according to a Wednesday Australian bourse filing.The revised agreement reflects current market pricing and incorporates inflation-based adjustments throughout the contract period, the filing said.Beach Energy (ASX:BPT) operates the Kupe permit with a 50% interest, alongside Genesis Energy holding 46% and Echelon Resources holding 4%, the filing added.Echelon Resources' shares rose past 1% in recent Wednesday trade. Genesis Energy's Australian shares gained 1%, while its New Zealand's shares shed 1%. Beach Energy's shares tumbled 4%.

ASX:BPTASX:ECHASX:GNENZE:GNE

Asia39d ago

BWP Expects AU$115.6 Million Net Gain From Property Portfolio Revaluation

BWP (ASX:BWP) said a revaluation of its investment property portfolio is expected to result in a net gain of about AU$115.6 million for the six months through June, according to a Wednesday filing with the Australian bourse.The gain reflects a revaluation uplift of AU$51.1 million from three properties in development during fiscal year 2026, a firming of the weighted average capitalization rate for BWP's portfolio to 5.25% in June from 5.27% in December 2025, as well as improved income from re-leasing activities, per the filing.The revaluations will be formally adopted by the company's board as it finalizes its accounts and audit process for the fiscal year ending June 30.

ASX:BWP

International39d ago

Bank of Japan Policymakers Show Support for Raising Interest Rates in June Meeting

Bank of Japan policymakers discussed further rate hikes, with the board's majority supporting raising interest rates at their June 15-16 meeting, according to the central bank's Summary of Opinions released on Wednesday.A large majority of policymakers believe that record-high oil prices and inflation pressures could push inflation above their 2% target.To curb these risks, the BOJ raised its benchmark interest rate to 1.0% from 0.75% in a 7-1 vote. This pushes Japanese interest rates to their highest level since 1995.The minutes also suggested the policymakers' confidence that Japan's economy has recovered moderately despite challenges from the recent Middle East war.Policymakers indicated that strong AI-related demand, solid corporate profits, wage growth, and government support measures have helped reduce downside risks.While higher energy costs continue to add pressure on the outlook, members said progress in securing alternative raw material supplies and easing concerns about supply disruptions had improved the economic situation.

Nikkei 225

Showing 19841-19860 of 65262