Bank of England Set to Hold Interest Rates as Inflation Risks and Iran War Impact Loom 
U.S. Sanctions Target Chinese Refinery Over Iranian Oil Purchases 
BOJ Holds Interest Rates at 0.75% as Policymakers Signal Growing Inflation Concerns 
BOJ Governor Kazuo Ueda Hints at Rate Hike as Inflation Pressures Build 
DeepSeek V4 Launch Signals China’s Growing AI Independence with Huawei Chips 
Sun Pharma to Acquire Organon in $11.75 Billion Deal to Boost Global Women’s Health Portfolio 
Yen Strengthens as BOJ Signals Rate Hikes; Asian Currencies Slip Ahead of Fed Meeting 
Oil Price Forecasts Rise for 2026 as Middle East Supply Risks Persist 
China’s Ultra-Cheap EV Boom: Why Electric Cars Cost Far Less Than in the U.S. 
Chinese Chip Stocks Surge on AI Boom and Domestic Tech Push 
Global PCB Prices Surge Amid Middle East Conflict and Supply Chain Disruptions 
Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand 
WuXi AppTec Stock Surges on Strong Q1 Earnings and CRDMO Demand Growth 
OpenAI Faces Revenue Pressure and User Growth Challenges Ahead of IPO 
Brazil Current Account Deficit Widens in March as FDI Misses Expectations 
Oil Prices Surge Amid U.S.-Iran Tensions and Strait of Hormuz Supply Concerns 
Advantest Stock Falls on Weak Outlook Despite Strong AI-Driven Results 
Nine companies have submitted letters of intent to acquire SsangYong Motor Co., which reportedly include US-based Cardinal One Motors, SM Group, and Edison Motors Co.
SsangYong did not divulge the names of the nine firms due to the confidentiality agreement with the potential investors.
K-pop Motors Co., which specializes in electric scooters, and pharmaceutical firm Park Seok-jeon & Co., which formed a strategic partnership in April to acquire SsangYong, reportedly submitted LOIs.
Cardinal One Motors chief Duke Hale, who founded HAAH Automotive Holdings Inc. to import vehicles from China for the US, tried to acquire SsangYong through the business entity.
Due to HAAH's bankruptcy as a result of the rising US-China tensions, Hale set up Cardinal One Motors to pursue SsangYong.
Hale said their depth of auto experience can help in the rehabilitation of Ssangyong in South Korea and expand sales through North America.
Meanwhile, Edison Motors formed a consortium with the Keystone private equity fund and two other financial investors to join an upcoming auction to take over SsangYong. Homegrown equity fund, the Korea Corporate Governance Improvement (KCGI), may also participate in the consortium.
SM Group is eyeing SsangYong to diversify its business portfolio, which ranges from shipping to construction, to auto parts manufacturing.
Ssangyong noted that most of the companies that have submitted LOIs plan to invest in electric vehicles that could help it transform into an environment-friendly carmaker.
The carmaker will conduct preliminary due diligence on the companies that pass an initial screening process by the end of August with the aim of selecting a preferred bidder in September.
Analysts said it will take 800 billion won to 1 trillion won to take over the debt-laden SsangYong.
