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China Tech Alive And Well: JPMorgan

China Tech Alive And Well: JPMorgan

Bloomberga day ago

The Asia Trade
Chinese tech stocks are "alive and well" and remain attractive despite market turmoil, according to JPMorgan Asset Management APAC Equities Portfolio Manager Aisa Ogoshi. She speaks to Bloomberg TV's Paul Allen and Haidi Stroud-Watts on The Asia Trade. (Source: Bloomberg)

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'Sharpened focus' for Market Hall as owners to sell Welsh shopping centre
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'Sharpened focus' for Market Hall as owners to sell Welsh shopping centre

THE new owners of Carlisle's Market Hall are set to sell a shopping centre in North Wales in a move they say will help 'sharpen focus' on other active regeneration schemes. The Menai Centre, owned by Bearmont Capital, will go to auction with Savills on June 17 with a guide price of £4.2m. Bearmont Capital, the leaseholder that took over Carlisle's Market Hall in December last year amid concerns about the historic site's future, has a portfolio focused on "rejuvenating undervalued shopping centres, enhancing footfall and tenant mix to create sustainable retail spaces." Carlisle's Market Hall first opened in 1889 (Image: Stuart Walker) The Llandudno-based company took on The Menai Centre in Bangor in 2023. Rob Lloyd, CEO of Bearmont Group and former Channel 4 Secret Millionaire, said the decision to sell marks the natural conclusion of the company's original investment programme for the site. "The Menai Centre was always a longer-term investment, and we're incredibly proud of the progress made since acquiring it in 2023," he said. "At that time, the 130,000 sq ft building was approximately 80 per cent vacant, having lost major tenants like Debenhams and H&M during the pandemic. "Since then, Bearmont Capital has invested significantly in breathing new life into the site - attracting new occupiers, securing long-term tenancies, and working closely with partners to support a key regeneration scheme in Bangor. "Today, the centre is virtually fully occupied, playing a renewed role in the local economy," he said. Among the 'significant milestones' at the site is said to be the transformation of the former Debenhams unit into a health and wellbeing hub, developed in partnership with Cyngor Gwynedd and the Betsi Cadwaladr health board, and backed by Welsh Government funding. "We've successfully delivered on everyone's wants, needs and aspirations in bringing that hub to life, and it stands as a great example of how we want to work: in true partnership with local authorities to drive real community value," Rob said. "That same collaborative approach is exactly what we're looking forward to continuing with Cumberland Council." In Carlisle, the Bearmont Group has so far completed external restoration efforts to the covered market , which first opened in 1889, and yesterday (May 30), welcomed B&M into the 20,487sq ft vacant space which was formerly occupied by Wilko. "Since purchasing The Market Hall, we've already completed phases one to three of investment and welcomed B&M this morning into a fully refurbished, bright, and impressive new store. B&M moves into former Wilko unit in Carlisle (Image: NQ) "A second new retailer is due to open in Units 5 and 6 next week. "It's an exciting time with real momentum behind the scheme, and we remain committed to delivering long-term, sustainable improvements across all our sites," Rob said. Phase four of investment into the site, which includes refurbishing the old toilet block, is currently ongoing with Bearmont working with local contractor Cubby Construction.

US calls for Asia allies to boost defenses in face of China's ‘imminent' threat, Hegseth tells top defense forum
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US calls for Asia allies to boost defenses in face of China's ‘imminent' threat, Hegseth tells top defense forum

US Defense Secretary Pete Hegseth on Saturday delivered a dire warning to the Asia-Pacific region and the world: China's designs on Taiwan pose a threat to global peace and stability that requires 'our allies and partners do their part on defense.' 'There is no reason to sugarcoat it. The threat China poses is real. And it could be imminent,' Hegseth said in a speech to the Shangri-La Dialogue, Asia's premier defense forum, in Singapore. 'Beijing is credibly preparing potentially to use military force to alter the balance of power in the Indo-Pacific,' with People's Liberation Army (PLA) forces training daily to take military action against Taiwan, Hegseth said. He noted that Chinese leader Xi Jinping has ordered his military to be prepared by 2027 to invade Taiwan, the democratic island of 23 million people that the Chinese Communist Party claims as its sovereign territory despite having never ruled it. 'The PLA is building the military needed to do it, training for it every day and rehearsing for the real deal,' Hegseth said, delivering some of his strongest comments against China since he took office in January. He said US President Donald Trump has pledged not to let Taiwan fall to China on his watch, and he called on US allies and partners in the region to band together to stand up to Beijing, both on the Taiwan issue and other regional disputes where China aggressively pursues its agenda, such as in the South China Sea. 'China's behavior towards its neighbors and the world is a wake-up call. And an urgent one,' the US defense chief said. But he said the US cannot deter the Chinese threat alone, calling on other nations to be 'force multipliers' against Beijing. 'We ask – and indeed, we insist – that our allies and partners do their part on defense,' he said. Hegseth urged Asian countries to increase their defense spending, pointing to NATO allies who have boosted it to 5% of gross domestic product. 'So it doesn't make sense for countries in Europe to do that while key allies in Asia spend less on defense in the face of an even more formidable threat, not to mention North Korea,' he said. While Hegseth made clear that Washington does not seek conflict with China, he stressed the Trump administration would not let aggression from Beijing stand. 'We will not be pushed out of this critical region, and we will not let our allies be subordinated and intimidated,' he said. Hegseth's speech adds to heated tensions between Washington and Beijing. China has railed against America's efforts in recent years to tighten its alliances and stiffen its defense posture in Asia, while economic frictions rose to historic levels earlier this year after Trump imposed tariffs on China, sparking a tit-for-tat between the two countries that saw duties rise to more than 100% on each other's goods. The annual Shangri-La Dialogue in Singapore has in the past been a place where defense leaders from the US and China can meet on the sidelines and foster at least a minimal dialogue between the two foes. No such meeting is expected to take place this year. China announced on Thursday that it would send only a low-level delegation from its National Defense University to Shangri-La, rather than its defense minister, who has spoken at the past five forums. When the International Institute for Strategic Studies, which sponsors the event, belatedly released a speakers list for the forum on Friday afternoon, the usual 8:30 a.m. time slot for a Chinese representative to speak was scrubbed from the agenda. At a Chinese Defense Ministry press conference on Thursday, a spokesperson ducked a question on why Beijing was not sending its defense minister to the forum. China was 'open to communication at all levels between the two sides,' a ministry spokesperson said, when asked about a potential sidelines meeting with the US delegation. Hegseth's call for allied cooperation in deterring China is a carryover from the Biden administration, but the Trump administration seems more strident than its predecessor. Ahead of the Singapore conference, there was broad consensus among analysts that unlike the turmoil Trump has caused in Europe – with threats to pull back from NATO and abandon Ukraine in its fight against Russia's invasion – the US role in Asia has largely been consistent, centered on a policy to counter Chinese influence and back Taiwan. Analysts noted that US-led military exercises, especially those involving key allies Japan, Australia, the Philippines and South Korea, have continued or even been bolstered in 2025.

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Investment firms The Carlyle Group Inc. (NASDAQ:CG) and SK Capital Partners, together with Beacon Parent Holdings, L.P., have successfully completed the tender offer for bluebird bio, Inc. (NASDAQ:BLUE) to acquire all outstanding common stock. With a value of either $3.00 per share plus a contingent value right or $5.00 per share in cash, the transaction is set to be finalized through a merger on June 2, 2025. A medical researcher inspecting a petri-dish filled with bacteria in a laboratory setting. We have previously seen how bluebird bio, Inc. (NASDAQ:BLUE), a biotechnology company engaging in gene therapies for serious genetic diseases, was both out of time and out of money. Among the challenges faced by the company were financial burdens, a high debt-to-capital ratio of 0.82, and a low current ratio of 0.55. In February, the management reported a deal with Carlyle and SK Capital Partners for $3 in cash and a $6.84 contingent value. Soon after, the entities secured approvals from the EU, China, and Turkey, meeting all the regulatory requirements. Under the terms of the agreement, the transaction is anticipated to advance without a vote from the bluebird bio, Inc. (NASDAQ:BLUE) stockholders, complying with Delaware's General Corporation Law. By offering a choice to the shareholders through an amended buyout agreement, the company provides immediate cash to those who desire it instead of potential future payments. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None. Sign in to access your portfolio

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