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California Auto Outlook Q2: Tesla's California sales slip 17% YTD, rivals surge
Investing.com - The California New Car Dealers Association (CNCDA) released its California Auto Outlook Report on Thursday, summarizing new vehicle registrations and forecasting annual sales.The reporInvesting.com
Jul 18, 2024
Rotation from tech winners to Russell, small-cap still has 'ways to go': analysts
U.S. small-cap stocks are staging a long-awaited comeback, driven by expectations of interest rate cuts and improving prospects for Republican presidential candidate Donald Trump, whose policies are sInvesting.com
Jul 18, 2024
Midday movers: DR Horton, Kinder Morgan rise ; Domino's Pizza, Beyond Meat fall
Investing.com -- U.S. stock futures fell Thursday, with tech stocks faltering again after the previous season’s rout, as top Democrats continued to pressure Joe Biden to withdraw from the presidentialInvesting.com
Jul 18, 2024
Deltrix Joins Hands with Alibaba to Penetrate New Energy Vehicle Industry in Central Asia
Amidst the booming digital economy, Deltrix, a wholly-owned subsidiary of Trio Industrial Electronics Group Limited (1710.HK), a leading manufacturer and distributor of advanced industrial electronic components and products in Hong Kong, and senior representatives of 1688.com, the B2B trading platform of the global e-commerce giant Alibaba Group, successfully hosted a high-level meeting on 9 July 2024, and officially signed a regional cooperation agreement on 15 July 2024. This collaboration signifies that both parties will engage in an in-depth cooperation in areas such as supply chain digitalisation, market expansion, and international trade, jointly penetrating new business opportunities for the manufacturing industry in the digital age.Under the framework of the strategic cooperation agreement, Alibaba Group has affirmed the significance and specific direction of its cooperation with Deltrix. Alibaba will fully utilise its industrial upgrade experience and strong supply chain resources accumulated in China over the past decades, combined with Deltrix’s extensive business layout in Central Asia, to jointly promote the comprehensive upgrade of new energy vehicles, spare parts and ancillary services in the automotive ecosystem and industries.Create synergy to empower the Central Asian marketBeing a "super-connector" in Central Asia, Deltrix will match the vast resources of Alibaba's ecosystem with the specific needs of the Central Asian market. Deltrix’s over 100 EV charging stations network and advertising media network will become an important pivot of the cooperation between the two parties through providing one-stop solutions for merchants in Alibaba's ecosystem. This cooperation does not only accelerate the penetration of China's new energy vehicles and related products in Central Asia, but also promotes the optimisation and upgrade of the local supply chain and forms a closer regional cooperation network. All-round collaboration to promote industrial upgradeThrough this cooperation, Alibaba and Deltrix will focus on the all-round collaboration of new energy vehicle industry, ranging from product research and development to manufacturing, supply chain management, marketing and after-sales service. The two parties will focus on the following areas.Supply chain integration: Leveraging Alibaba's digital supply chain platform, we will integrate China's well-developed new energy vehicles and spare parts supply chain resources to provide high-quality product and efficient product supply service to the Central Asian market. Market expansion: Riding on Deltrix's EV charging network and advertising media network, we will accurately connect them with the market demand in Central Asia, sell new energy vehicle brands and ancillary products, and enhance their market awareness and acceptance. Technology and service output: We will share the advanced technology and management experience of China's new energy vehicle industry, support the technological upgrade and enhance the innovation of service models of Central Asia enterprises. Operation localisation: To meet the local regulation requirement and market demand, we will jointly explore new energy vehicle business models which are best fit for the Central Asian market, including vehicles leasing and sharing, and promote the concept of ESG and green travel.Co-build a green ecosystem in the futureThis cooperation not only signifies another important step in Alibaba's global industrial chain layout, but also a milestone for Deltrix’s internationalisation and regional economic integration strategy. The two parties will work together to develop the new energy vehicle industry, to build a green and sustainable automotive industry ecosystem in Central Asia, and to contribute to the achievement of the global carbon neutrality goal.With the implementation of the cooperation, the strong alliance between Alibaba and Deltrix will become another model case study of cooperation between Chinese and overseas enterprises under the "Belt and Road" initiative.Mr. Cecil Wong, Chairman of Trio Industrial Electronics Group Limited, said: " Following the earlier occasions in obtaining the rights of setting up Deltrix’s EV charging stations at Sinooil’s 143 gas stations in Kazakhstan; as well as Star Media’s advertising network, therein, our partnership with Alibaba fills in the gap with the latter’s provision of the commercial advertising contents to our vast network and the joint development of e-commerce platform. Today’s Trio Group, keeping its origin as a high-tech manufacturer of EV charger and surrounding power supplies products, enters an in-depth cooperation with super-power partners, to develop master class new energy related industries. We shall exploit our capabilities from product R&D; production capabilities; supply chain management to sales marketing and aftersales services, on an OMO model. Coupled with our own developed AI and big data analytics tools applicable to the ecosystem of our EV charging stations, an economically viable business model is to be developed in the Central Asia region.”About Trio GroupTrio Industrial Electronics Group Limited is a manufacturer and distributor of advanced industrial electronic components and products in Hong Kong with 40 years of industry experience. It is also the first Hong Kong-based industrial electronic company awarded with the Industry 4.0 maturity certificate - Industry 4.01i level. The Group’s major products include smart charger, electro-mechanical product and switch-mode power supplies, which are widely used in smart city system, medical and healthcare sector, as well as renewable energy field. The Group has built up good reputation and become a trusted supplier to various international well-known brands. Majority of its clients comes from Europe and US while some from Southeast Asia and PRC. In addition, the Group and its partner has developed its own EV charger solution - Deltrix since 2017, which has been launched in the European market in response to the global efforts to develop smart economies.For more details, please contact: Skye ShumInvestor Relations Manager PR media: DLK Advisory pr@dlkadvisory.com18/07/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jul 18, 2024
GAM and SHK & Co Announce Strategic Alliance to Drive Growth and Enhance Distribution in Greater China
GAM Investments (“GAM”, SWX: GAM), an independent investment manager headquartered in Zurich and Sun Hung Kai & Co. Ltd. (“SHK & Co”, SEHK: 86), a leading Hong Kong-based alternative investment firm, are pleased to announce a new strategic alliance.This alliance aims to drive growth and enhance client coverage and capabilities across Greater China (Hong Kong, mainland China, Taiwan and Macau). Effective from 1August 2024, the alliance includes significant new investment in an expanded distribution platform and new strategic alliance serving investors across the region.This collaboration leverages GAM’s near 40-year commitment to the region, Swiss heritage and active investing approach with SHK & Co’s deep understanding of the Asian market, strong local presence, and extensive expertise and network. Together, both companies share a vision and entrepreneurial mindset to drive new business growth, private wealth solutions and active investing opportunities for a broad range of clients. Strategic AllianceAs part of this strategic alliance, Sun Hung Kai Capital Partners Ltd., the licensed subsidiary of SHK & Co will drive the distribution and servicing of GAM’s funds across Greater China. To ensure a seamless transition, SHK & Co will utilise GAM's operational processes, systems, and local Hong Kong talent in the business. This ensures that excellence in relationship management and service is maintained. GAM remains steadfast in its commitment to Greater China, ensuring continued service and support through this alliance with SHK & Co. Expanded Product OfferingThis new alliance will also build on GAM’s existing product offering of High Conviction Equity, Specialist Fixed Income, Multi-Asset, Sustainable, and a growing Alternative Investment Solutions capability. These products will be available to wholesale, family offices, and institutional channels. GAM and SHK & Co will also collaborate closely to co-develop innovative, alternative, and portfolio-diversifying product solutions for clients both locally and internationally.Elmar Zumbuehl, Group CEO at GAM, commented: "We are delighted to partner with SHK&Co, a market leading firm established in 1969 known for its local market presence, alternative investing expertise and wealth management solutions. This alliance reinforces our commitment to the region and enhances our ability to serve our clients with distinctive and award-winning investment solutions."Tony Edwards, Deputy CEO of SHK & Co, expressed: "We are excited to team up with GAM, a renowned global asset manager with a long-standing history of excellence. This strategic alliance combines our complementary strengths and resources, significantly improving our client service and investment solution capabilities. Together, we are well-positioned to provide exceptional offerings that cater to the evolving needs of our clients in the region. Also, we look forward to deepening and exploring more business collaborations with GAM in the years to come, particularly in alternative investment solutions."About Sun Hung Kai & Coand Sun Hung Kai Capital PartnersSun Hung Kai & Co. Limited (SEHK: 86) (“SHK & Co” / the “Company”, together with its subsidiaries, the “Group”) is a leading Hong Kong-based financial institution recognised for its expertise in alternative investments and wealth management. Since 1969, the Company has built a diversified investment portfolio across public markets, credit and alternatives strategies including real estate and private equity, delivering long-term risk-adjusted returns. Leveraging on its deep-rooted Asian heritage, SHK & Co supports and nurtures specialist emerging asset managers in the region, empowering them to excel. SHK & Co also utilises its long-standing investment expertise and resources in providing tailored investment solutions to like-minded partners and ultra-high-net-worth investors through its Family Office Solutions. As at 31 December 2023, the Group held about HK$41 billion in total assets. For more information, please visit: www.shkco.com / follow SHK & Co on LinkedIn.Founded in 2020, Sun Hung Kai Capital Partners (“SHKCP”) is the Hong Kong SFC regulated subsidiary of SHK & Co, with Type 1, 4 and 9 licenses. For more information, please visit: www.shkcapital.com / follow SHKCP on LinkedIn.About GAMGAM is an independent investment manager that is listed in Switzerland. It is an active, independent global asset manager that delivers distinctive and differentiated investment solutions for its clients across its Investment and Wealth Management Businesses. Its purpose is to protect and enhance its clients’ financial future. It attracts and empowers the brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 63.8 billion as of 31December 2023, with Investment Management at CHF 19.3 billion and Fund Management Services at CHF 44.7 billion. As of 31 January 2024, Fund Management Services were successfully transferred to the Carne Group. GAM has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983 and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com.Media enquiry, please contact:Hill and KnowltonJoanne Lam +852 9839 6552Sidney Leng +852 5443 4320Lynn Zhang +852 9794 5751Email: SHKCo@hkstrategies.comOther Important InformationThis release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, "estimate", "aim", “project”, “forecast”, "risk", “likely”, “intend”, “outlook”, “should”, “could”, "would", “may”, “might”, "will", "continue", "plan", "probability", "indicative", "seek", “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.18/07/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jul 18, 2024
TSMC climbs as Q2 profit tops estimates on AI demand; sees higher revenue, costs
Investing.com-- Taiwan Semiconductor Manufacturing Co, or TSMC (TW:2330), reported a stronger-than-expected profit in the second quarter, as it continued to see stellar demand for semiconductors fromInvesting.com
Jul 18, 2024
Saint Bella Holdings Limited has invested into Nexus Media Limited, the licensee and publisher of leading luxury lifestyle magazine Robb Report Hong Kong and RR1 global private membership
Currently with 17 editions in 29 countries and territories, Robb Report Hong Kong is recognised as the leading voice for its discerning global UHNW audience that appreciates and desires quality, exclusivity, heritage, taste, and fine design. Robb Report is synonymous with affluence, luxury, and the best of the best, and it belongs under Penske Media Corporation (PMC), which includes globally acclaimed media titles and event IPs in its portfolio, such as Billboard, WWD, Variety, Rolling Stone, The Hollywood Reporter, SXSW, Sourcing Journal, Beauty Inc, American Music Awards, and many more.Robb Report Hong Kong is the region's definitive luxury lifestyle media title, highlighting the very finest in luxury living. Alongside its prestigious annual Best of the Best print magazine, Robb Report Hong Kong publishes daily digital content and serves as the ultimate guide to lifestyle and luxury in the city.With this strategic investment, Robb Report Hong Kong will work with Saint Bella to invite its selected ultra-high-net-worth clientele to apply for the global RR1 membership, which allows privileged access to international RR1 events. RR1 is a by-invitation-only private members’ community that gives its discerning members access to one-of-a-kind luxury experiences curated by Robb Report, bringing the pages of the magazine to life. As the leading voice of luxury, Robb Report is strategically positioned to provide RR1 members with exclusive access to the most influential and extraordinary experiences around the world.RR1 members may also gain one-of-a-kind access to select experiences under various PMC titles and IPs, such as the Golden Globes, SXSW Austin, SXSW Sydney, Billboard Music Awards, American Music Awards, Life is Beautiful, WWD, Red Sea Week, Culinary Masters, Car of the Year, House of Robb, and more.Saint Bella Holdings Limited, parent company of SAINT BELLA, the leading luxury family care brand in Asia, has announced a strategic equity investment as a shareholder in Nexus Media Limited, publisher of Robb Report Hong Kong and its RR1 private membership community.Saint Bella Holdings Limited is an award-winning leader in luxury family care across Asia, offering an unparalleled suite of premium and ultra-premium services and products. These include top-tier postpartum care centers, comprehensive home child care, wellness and nutritional supplements, and specialized elderly care. The luxury family care provider serves over 10,000 members and clients annually across more than 25 cities in Asia and now expanding into the US. Its flagship luxury brand, SAINT BELLA, is the largest ultra-premium maternity care provider.“I am pleased to announce that this investment will create mutual benefit for Saint Bella and Robb Report Hong Kong through the RR1 private membership and access to global events that will build a stronger network of UHNW individuals for the global RR1 programme,” says Tak Man, CEO and founder of Nexus Media Limited and publisher of Robb Report Hong Kong. “As part of our exclusive social community, members enjoy truly unique access to luxury with a remarkable group of peers who share similar passions. Lifelong friendships and unforgettable memories are made among a community of connoisseurs at RR1 events around the world.”CEO of Saint Bella, Danny Xiang, is delighted to announce this strategic equity investment. It is a great opportunity for the two companies to work together and provide access to unique global luxury experiences for UHNW clientele. "We are excited to partner with Nexus Media Limited to bring the exclusive luxury experiences of Robb Report RR1 membership and PMC networks to Saint Bella's distinguished clientele worldwide. This collaboration will introduce the esteemed RR1 membership to our ultra-high-net-worth clients in Asia. Together with Robb Report Hong Kong, we are redefining luxury maternity experiences for families globally, creating a unique community with access to unparalleled, one-of-a-kind luxury offerings."Saint Bella Holdings Limited has a diverse portfolio of investors, including Tencent, C Capital, Swire Properties New Ventures, Mirae Asset, and China Life, and it has recently raised US$100 million over a Series C fundraising round. About Nexus Media LimitedTak Man founded Nexus Media Limited as a privately owned company under Nexus Media Group. Nexus Media Limited is the licensed publisher of Robb Report Hong Kong. Nexus Media Group includes media companies that specialise in the commercialisation of international titles, custom publishing, live events and experiences, digital media platforms, and more.About Saint Bella Holdings LimitedSAINT BELLA stands at the forefront of luxury family care services, driven by a vision to become the world’s leading provider and redefine excellence in care for a new generation of families. Established in 2017, Saint Bella Holdings Limited has attracted strategic investment from renowned partners and institutions, quickly establishing a presence along the value chains of top online portals, insurance, and properties.Its group-wide business covers a wide range of services, including maternal and child care, home child care, internet hospitals, wellness and nutritional supplements, elderly care and investment. Saint Bella Holdings Limited is known for its acclaimed sub-brands SAINT BELLA, Bella ISLA, and baby bella, which are synonymous with unparalleled excellence and the largest and most influential high-end direct-operated postpartum care centres in Asia. With recent expansions into the USA and plans to establish presence in major global cities, Saint Bella Holdings Limited is poised to redefine family care on a truly global scale.18/07/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Jul 18, 2024
