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Mercari chases growth overseas with $1.2 billion IPO, Japan’s biggest this year

“For its current financial year, the company has given only a sales forecast, predicting a 62.2 percent year-on-year increase to 35.8 billion yen” writes Midwest Communications Inc for 95kqds.com. TOKYO (Reuters) – Japanese flea market app operator Mercari Inc’s IPO is raising up to $1.2 billion in the nation’s biggest such share sale so far this year, as the firm seeks to replicate its domestic success overseas, especially in the money-losing U.S. market.Both domestic retail investors and overseas funds were enthusiastic about the loss-making startup’s IPO, sources said.By comparison, in…

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‘Big six’ win bigger share of Premier League’s overseas TV money

“From 2019-20, the start of the next three-year rights cycle, any increase in the current international rights package, which is inevitable, will be distributed according to league position” writes Sam Wallace for telegraph.co.uk. In recent years, however, the league’s top six clubs – Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur – have argued they should get more of the overseas income as they are the clubs foreign fans want to watch. Source: telegraph.co.uk Share This:

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Uber Finds Profits in Leaving Tough Overseas Markets

“As a private company, Uber is not obligated to report quarterly results” reports nytimes.com. Uber said the investment funds Coatue, Altimeter and TPG will buy up to $600 million worth of stock in Uber, valuing the company at around $62 billion. The latest offering will again allow some of Uber’s earliest investors and employees to sell shares.Abboud, Uber’s spokeswoman, said the company has been engaged in ongoing discussion with the mayor’s office and the state about restarting testing. Source: nytimes.com Share This:

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With iZettle acquisition, PayPal looks to block Square’s overseas ambitions

“Twitter sparring aside, the deal indeed sets up a showdown between PayPal, worth $90 billion, and Square, worth around $22 billion” reports fastcompany.com. Last week, PayPal agreed to buy iZettle , known as the “Square of Europe,” for $2.2 billion in cash, making the deal the payments company’s largest acquisition to date.Bloomberg, in its write-up of the deal, used a picture of a Square checkout register, rather than iZettle’s copycat product—as Square was quick to note on Twitter. Source: fastcompany.com Share This:

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Contract offer to counteract global threat to nuclear sites

“The Government is so concerned about the global threat to nuclear power stations that it is seeking a company to provide security training to foreign operators” writes Tom Stevenson for telegraph.co.uk. According to the tender documents, found by procurement company Tussell, the job will be aimed at overseas civil nuclear sites. This work is the first external tender relating to the Government’s global threat reduction programme, hinting at the level of concern among top officials about the possibility of an attack on nuclear power plants.The successful company will be sent…

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US pressures North Korea to ship nuclear weapons overseas before sanctions lifted, according to reports  

“The United States has told North Korea that is must start shipping nuclear weapons, fissile material and some of its long-range missiles out of the country within a couple of months of the June summit between Kim Jong-un, the North Korean leader, and President Donald Trump, according to South Korean media” writes Nicola Smith for telegraph.co.uk. The report by Yonhap News echoes comments by John Bolton, the president’s national security adviser, who on Sunday reiterated that Pyongyang could expect no assistance or relaxation of sanctions until it fully dismantles its…

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The shocking Malaysian election result could hit Chinese investments

“A stunning win by the opposition bloc in Malaysia’s general election on Wednesday could have implications for the Southeast Asian nation’s ties with China, a major invsetor” writes Huileng Tan for cnbc.com. That came as China seeks to expand its influence overseas, spurring concerns internationally about the reach of the Chinese Communist Party.Malaysia was the fourth-largest recipient of China’s overseas direct investment last year, a 2017 report from the Economist Intelligence Unit said. Source: cnbc.com Share This:

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Takeda wins battle for Shire with $62 billion deal

“Shire’s board agreed Takeda could buy it at GBP49.01 or $66.21 a share–$30.33 in cash and 0.839 of a Takeda share for each Shire share–in a deal that valued the target at $62 billion” writes Preetika Rana for marketwatch.com. The Shire deal means Takeda will now earn roughly half of its revenue in the U.S.–where companies have greater flexibility to charge what they like–up from one-third previously.Shire shares, meanwhile, were up more than 4% Tuesday and have gained more than 13% since late March, further widening the gap between the…

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