Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Under an agreement with Irish telecom services company Eir, Blackstone (NYSE:BX)-backed Phoenix International agrees to buy more than 650 wireless towers and acquire newly constructed wireless towers over eight years across Ireland, positioning Phoenix as the largest tower infrastructure provider in Ireland and materially expanding its footprint in Europe.
The two companies form a long-term partnership, under which Eir will occupy the sites for at least 20 years.
Apple (NASDAQ:AAPL) will re-open its two stores in two locations at Fukuoka and Nagoya Sakae in Japan on May 27, according to the company’s retail website.
Dates for re-opening of the balance 8 stores have not been posted yet.
The company has already reopened stores in Australia, Germany, Austria, South Korea, Switzerland and some stores in Italy and the U.S. taking its open store tally to 148 out of 510 stores.
Customers will have to follow social-distancing rules, temperature check and wear a mask before entering.
Toshiba (OTCPK:TOSYY) is selling its logistics unit to SBS Holdings for just under ¥20B – about $185.5M.
It’s transferring a two-thirds interest in its wholly owned Toshiba Logistics Corp. in the deal.
The two expect to close the deal in October. Toshiba will record a non-operating profit of about ¥23B in fiscal 2020 in the transaction.
Reliance Industries unveiled a small pilot of JioMart deliveries in select areas of Mumbai in April, days after announcing that Facebook (NASDAQ:FB) would spend $5.7B for 9.99% stake in Jio Platforms.
The company is now launching an online grocery service by capitalizing on the 400M-strong user base of Facebook-owned WhatsApp, challenging Amazon’s (NASDAQ:AMZN) local unit and Walmart’s (NYSE:WMT) Flipkart in more than 200 towns across India.
“Never waste a crisis, they say!” tweeted Damodar Mall, CEO of grocery retail at Reliance. “A wise colleague mentioned today, ‘Alibaba also flourished starting from the SARS crisis.'”
Huawei reportedly called in senior officials from Samsung Electronics (OTC:SSNLF) and SK Hynix’s (OTC:HXSCF) Chinese units to ask for a stable memory chip supply even as the U.S. sought to isolate the Chinese telecom company.
The Korea Economic Daily reported the news, citing unidentified industry sources.
One of the five biggest customers for Samsung and SK Hynix, the Chinese company spends ~ 10T won ($8.1B) on DRAM and NAND flash memory chips from the Korean chipmakers each year.
Although the U.S. has prohibited any chipmaker using American equipment from supplying Huawei without U.S. government approval, Huawei is concerned that the Trump administration could widen restrictions later, the Korea Economic Daily article said.
Update: Samsung has denied the report of Huawei’s stable chip supply request, according to Bloomberg First Word.
Related tickers: OTC:SSNNF, OTC:SSDIY, OTC:HXSCL
