Cerberus to Expand Subic Bay Business as US Interest in Former Naval Base Grows
The US investment firm is looking to lease around 200 hectares (494 acres) near a 310-hectare former shipyard it took over in 2022, according to a senior official at the Subic Bay Metropolitan Authority, which manages the freeport zone.
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CNN
15 minutes ago
- CNN
Japan's minority government likely to lose upper house control, exit polls show
Japan's ruling coalition is likely to lose its majority in the upper house, exit polls showed after Sunday's election, potentially heralding political turmoil as a tariff deadline with the United States looms. While the ballot does not directly determine whether Prime Minister Shigeru Ishiba's shaky minority government falls, it heaps pressure on the embattled leader who also lost control of the more powerful lower house in October. Ishiba's Liberal Democratic Party (LDP) and coalition partner Komeito needed 50 seats to retain control of the 248-seat upper chamber in an election where half the seats were up for grabs. They are forecast to secure 32 to 51 seats, the exit poll by public broadcaster NHK showed. Other broadcasters forecast the ruling coalition would hold 41-43 seats. If the coalition holds less than 46 seats, it would mark its worst result since the coalition was formed in 1999. That comes on top of its worst showing in 15 years in October's lower house election, a vote which has left Ishiba's administration vulnerable to no-confidence motions and calls from within his own party for leadership change. Opposition parties advocating for tax cuts and tougher immigration policies look set to make gains, the exit polls showed, with rising consumer prices – particularly a jump in the cost of the staple rice – a key issue for voters. 'The LDP was largely playing defense in this election, being on the wrong side of a key voter issue,' said David Boling, a director at consulting firm Eurasia Group. 'Polls show that most households want a cut to the consumption tax to address inflation, something that the LDP opposes. Opposition parties seized on it and hammered that message home.' The LDP have been urging for fiscal restraint, with one eye on a very jittery government bond market, as investors worry about Japan's ability to refinance the world's largest debt pile. Adding to the anxiety around the world's fourth largest economy, Japan faces a deadline of August 1 to strike a trade deal with the United States or face punishing tariffs in its largest export market. The populist Sanseito party looked to be one of the big winners on the night, forecast to win 10-15 seats in the chamber, up from just one held previously. Sanseito's 'Japanese First' campaign and warnings about a 'silent invasion' of foreigners, have dragged once-fringe political rhetoric into the mainstream. 'I am attending graduate school but there are no Japanese around me. All of them are foreigners,' said Yu Nagai, a 25-year-old student who voted for Sanseito earlier on Sunday. 'When I look at the way compensation and money are spent on foreigners, I think that Japanese people are a bit disrespected,' Nagai said after casting his ballot at a polling station in Tokyo's Shinjuku ward.
Yahoo
43 minutes ago
- Yahoo
Exit polls show Japan's ruling coalition likely to lose key election
TOKYO — Exit polls show Prime Minister Shigeru Ishiba 's ruling coalition is likely to lose a majority in the smaller of Japan's two parliamentary houses in a key election Sunday, worsening the country's political instability. Voters were deciding half of the 248 seats in the upper house, the less powerful of the two chambers in Japan's Diet. Ishiba has set the bar low, wanting a simple majority of 125 seats, which means his LDP and Komeito Liberal Democratic Party and its Buddhist-backed junior coalition partner Komeito need to win 50 to add to the 75 seats they already have. That is a big retreat from the 141 seats they had pre-election, but media surveys predict big setbacks for Ishiba. Exit poll results released seconds after the ballots closed Sunday night mostly showed a major setback for Ishiba's coalition. Japan's NHK television projected a range of 32-51 seats for the prime minister's coalition, while other networks projected it would win just over 40 seats. A poor performance in the election would not immediately trigger a change of government because the upper house lacks the power to file a no-confidence motion against a leader, but it would certainly deepen uncertainty over his fate and Japan's political stability. Ishiba would face calls from within the LDP party to step down or find another coalition partner. Soaring prices, lagging incomes and burdensome social security payments are the top issues for frustrated, cash-strapped voters. Stricter measures targeting foreign residents and visitors have also emerged as a key issue, with a surging right-wing populist party leading the campaign. Sunday's vote comes after Ishiba's coalition lost a majority in the October lower house election, stung by past corruption scandals, and his unpopular government has since been forced into making concessions to the opposition to get legislation through parliament. It has been unable to quickly deliver effective measures to mitigate rising prices, including Japan's traditional staple of rice, and dwindling wages. President Donald Trump has added to the pressure, complaining about a lack of progress in trade negotiations and the lack of sales of U.S. autos and American-grown rice to Japan despite a shortfall in domestic stocks of the grain. A 25% tariff due to take effect Aug. 1 has been another blow for Ishiba. Ishiba has resisted any compromise before the election, but the prospect for a breakthrough after the election is just as unclear because the minority government would have difficulty forming a consensus with the opposition. Frustrated voters are rapidly turning to emerging populist parties. The eight main opposition groups, however, are too fractured to forge a common platform as a united front and gain voter support as a viable alternative. The emerging populist party Sanseito stands out with the toughest anti-foreigner stance, with its 'Japanese First' platform that proposes a new agency to handle policies related to foreigners. The party's populist platform also includes anti-vaccine, anti-globalism and favors traditional gender the daily Crossword
Yahoo
43 minutes ago
- Yahoo
BingEx Limited (NASDAQ:FLX) Has Found A Path To Profitability
With the business potentially at an important milestone, we thought we'd take a closer look at BingEx Limited's () future prospects. BingEx Limited, through its subsidiaries, engages in the provision of on-demand dedicated courier services under the FlashEx brand name in the People's Republic of China. With the latest financial year loss of CN¥260m and a trailing-twelve-month loss of CN¥298m, the US$207m market-cap company amplified its loss by moving further away from its breakeven target. As path to profitability is the topic on BingEx's investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts' expectations for the company. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. According to some industry analysts covering BingEx, breakeven is near. They anticipate the company to incur a final loss in 2024, before generating positive profits of CN¥88m in 2025. Therefore, the company is expected to breakeven roughly 12 months from now or less. How fast will the company have to grow to reach the consensus forecasts that anticipate breakeven by 2025? Working backwards from analyst estimates, it turns out that they expect the company to grow 88% year-on-year, on average, which is rather optimistic! If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of BingEx's upcoming projects, but, take into account that by and large a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. View our latest analysis for BingEx Before we wrap up, there's one aspect worth mentioning. BingEx currently has no debt on its balance sheet, which is quite unusual for a cash-burning growth company, which usually has a high level of debt relative to its equity. This means that the company has been operating purely on its equity investment and has no debt burden. This aspect reduces the risk around investing in the loss-making company. Next Steps: This article is not intended to be a comprehensive analysis on BingEx, so if you are interested in understanding the company at a deeper level, take a look at BingEx's company page on Simply Wall St. We've also compiled a list of important factors you should further research: Historical Track Record: What has BingEx's performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on BingEx's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
