One day before the deadline, Toshiba’s talks to sell its chip business to a consortium including Western Digital for an estimated USD 18 bn has stalled. Instead, negotiations with Bain and SK Hynix have re-opened but could potentially prolong the announcement of the sale.
Toshiba continues to struggle in the sale of its microchip business to shore up its financials. After failing to reach a final agreement with a consortium of buyers, the company has again returned to offer up its business unit for the auction block.
The 30 hour Prime day event saw a 60% increase in sales YoY with prime members making purchases growing by 50%. Sales surpassed any single day in Amazon history including Black Friday and Cyber Monday.
China trade data for June was better than expected indicating stronger than expected global demand for Chinese goods and domestic consumption of construction materials. However looking to the second half of the year concerns remain on the potential of trade tensions with the US and other geopolitical risks weighing on global demand.