PALO ALTO, California -- Shares in Elon Musk’s SpaceX closed up 19.2% in their first day of trading on Friday on Nasdaq, following a blockbuster IPO that priced its stock at $135 apiece and gave the company a roughly $1.75 trillion valuation. It has also fueled Musk to become the first trillionaire in the world.
Japan enters low-cost rocket competition against SpaceX with H3 launch
TOKYO -- Japan's space agency successfully launched its H3 flagship heavy-lift rocket on Friday, signaling the country's entry into the global low-cost launch arena that is currently dominated by America's SpaceX.
G7 leaders discuss trade imbalances with China, India in pre-summit talks
PARIS -- Group of Seven leaders made the unusual move to discuss trade imbalances with China and India as they tried to coordinate the agenda ahead of a G7 summit next week.
Is India really home to 1.4 billion people? It's time to count
NEW DELHI -- With the afternoon temperature hovering around 42 degrees, two women made their way along an open wastewater drain running through a dilapidated slum on the south side of the Indian capital, wiping sweat from their faces with thin scarves that they also used to try to block the sun and the smells.
China-owned Puma and Kelme supply 27% of World Cup uniforms
BERLIN/SHANGHAI -- The Chinese-owned sportswear brands Puma and Kelme are making China a formidable player in soccer uniforms, outfitting 27% of the World Cup teams this year.
Japan pharma companies turn to China for drug discovery, growth
TOKYO -- Japanese pharmaceutical companies are investing more in China, the world's second-largest market, aiming to tap the rapidly improving drug discovery capabilities of Chinese partners to find promising new candidates.
Tractor maker Kubota plans 5th Indian factory in export push
TOKYO -- Kubota will build a new factory in northern India for tractors and construction machinery, its fifth production site in the country, with plans to expand exports to Africa and other markets.
Mitsui Chemicals to buy US dental materials maker for $900m
TOKYO -- Mitsui Chemicals will purchase major U.S.-based dental materials manufacturer Ultradent Products for roughly $900 million under plans announced Friday, marking the Japanese chemical producer's biggest acquisition to dae.
SpaceX shoots up 11% in market debut, but faces an Asia problem
PALO ALTO, California -- Shares in Elon Musk’s SpaceX shot up 11% when the market opened in their market debut on Friday, following a blockbuster IPO that priced its shares at $135 apiece and gave the company a roughly $1.75 trillion valuation.
Both institutional and retail investors have shown great interest in the highly-anticipated historical market debut, but whether SpaceX will be able to justify its lofty valuation is still a question to be answered – largely by its future in Asia
Warburg Pincus to launch $1.2bn tender offer for Japan dorm operator J.S.B.
TOKYO -- U.S. investment firm Warburg Pincus will launch a tender offer to acquire Japanese student housing provider J.S.B. under plans announced Friday, for an amount estimated at around 200 billion yen ($1.25 billion).