ASXPAC

Elon Musk sells $1 million worth of new perfume, ‘Burnt Hair’

Oct 12 (Reuters) – The world’s richest man, Elon Musk, has scented a new opportunity to capitalize on quirky products, launching a perfume called “Burnt Hair” that he said sold 10,000 bottles to earn a million dollars in just a few hours. “With a name like mine, getting into the fragrance business was inevitable – …

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The US scrambles to prevent export curbs on Chinese chips from disrupting the supply chain

OAKLAND, Calif./NEW YORK Oct 11 (Reuters) – The US is scrambling to tackle unintended consequences of its new export curbs on China’s chip industry that could inadvertently harm the semiconductor supply chain, people familiar with the matter said. By late Tuesday, hours before a new restriction took effect, South Korean memory chipmaker SK Hynix Inc …

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Macro bets help hedge funds ride rough Chinese markets

HONG KONG, Oct 11 (Reuters) – The hedge funds that have managed to weather and outperform China’s bumpy stock markets so far this year say betting on big-picture macroeconomic changes have helped them. One such fund is Stanley Tao’s $230 million Golden Nest Greater China Fund. The hedge fund posted approximately a 2.4% net return …

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Philippine tycoon postpones $474 mln Prime Infrastructure IPO on bearish market

MANILA, Oct 10 (Reuters) – Philippine tycoon Enrique Razon has delayed until the middle of next year plans to launch an up to 28 billion pesos ($474 million) listing for his infrastructure and energy holding firm because of a market downturn, its underwriter said on Monday. The initial public offering (IPO) of Prime Infrastructure Capital …

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Tesla’s China-made sales hit record following Shanghai factory upgrade

Oct 9 (Reuters) – Electric vehicle maker Tesla Inc ( TSLA.O ) sold 83,135 China-made vehicles in wholesale in September, smashing its record of monthly sales in China, according to a report released on Sunday by the China Passenger Car Association ( CPCA). The number marks an 8% increase from August and outpaced the more …

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Nissan pushes partner Renault to sell down stake, may raise funds

Oct 8 (Reuters) – Nissan Motor Co Ltd (7201.T) is pressuring French partner Renault SA (RENA.PA) to cut its stake in the Japanese automaker as much as possible, ideally to 15%, and may consider raising funds to buy back the shares, a source familiar with the matter said. The demands were made in exchange for …

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Pakistan’s Afridi to be fit for World Cup opener, Raja says

LAHORE, Pakistan, Oct 8 (Reuters) – Pakistan fast bowler Shaheen Afridi has made rapid progress from a knee injury and will be “battle-ready” for their Twenty20 World Cup opener against arch-rivals India this month, the country’s cricket board chief , Ramiz Raja, said. Afridi has been sidelined since sustaining a ligament injury to his right …

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Betting on flexibility, China’s Nio will only rent cars in new EU markets

BERLIN, Oct 7 (Reuters) – Chinese electric vehicle maker Nio (9866.HK) will only lease its cars when it launches in four European markets this year, its CEO told Reuters on Friday, betting that flexibility will be a key selling point as drivers switch to the new technology. Users will be able to lease a car …

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