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WASHINGTON (Reuters) - The U.S. economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis, benefiting from a new ranking methodology this year, the Swiss body said on Tuesday. In its closely-watched annual Global Competitiveness Report, the WEF said the U.S. is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zero to 100.
The U.S, beat off Singapore, Germany, Switzerland and Japan, the other top four markets, with a score of 85.6 out of 100, the report said, due to its “vibrant” entrepreneurial culture and “strong” labor market and financial system, The World Economic Forum, the same organization that runs the Davos meeting of global powerbrokers each January, bases van heusen cufflinks myer its rankings of 140 economies on a dozen drivers of competitiveness, including a country’s institutions and the policies that help drive productivity..
This year the WEF changed its methodology to better account for future readiness for competition, such as a country’s idea generation, entrepreneurial culture, and the number of businesses that disrupt existing markets. The last time the U.S. topped the list was 2008. The WEF said it was too early to factor in how the Trump administration’s recent trade policies would affect its ranking. “While it is too early for the data to filter through in this year’s report, we would expect trade tensions with China and other trading partners to have a negative impact on the US’ competitiveness in the future, were they to continue,” Saadia Zahidi, the managing director at the World Economic Forum, said in an email.
(Reuters) - Banks, including underwriters of SoftBank Group’s (9984.T) initial public offering of its mobile unit, are finalizing terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter, Reuters reported earlier this month that SoftBank had picked up five van heusen cufflinks myer investment banks, including units of Nomura Holdings Inc (8604.T) and Goldman Sachs (GS.N), as lead underwriters for the mammoth initial public offering of its mobile-phone unit..
The two lead underwriters are finalizing terms for the loan, but details are still being worked out, the people told Bloomberg. Mizuho Financial Group Inc (8411.T), Deutsche Bank AG (DBKGn.DE) and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc (8316.T) are also part of the underwriting team, Reuters reported. SoftBank’s Vision Fund will offer stakes in five of its holdings as collateral, according to the Bloomberg report, but the people did not specify which companies’ stake would be used.
The $93-billion Vision Fund has investments in companies including ride-hailing firm Uber Technologies Inc [UBER.UL] and shared-office space firm WeWork, Deutsche Bank declined van heusen cufflinks myer to comment, while Nomura was not available for comment, SoftBank, Goldman Sachs and SMBC Nikko Securities did not immediately respond to Reuters’ requests for comment, SoftBank’s mobile IPO could raise about 3 trillion yen ($27 billion) in proceeds, making it the biggest IPO ever to list on the Tokyo Stock Exchange..
TOKYO (Reuters) - Japan’s Fujifilm Holdings Corp has won an appeal in its legal battles with Xerox Corp, with a New York court overturning preliminary injunctions requested by an activist investor that had blocked their planned merger. Xerox in May scrapped a $6.1 billion deal with Fujifilm in a settlement with investors Carl Icahn and Darwin Deason that also handed control of the U.S. photocopier giant to new management. The ruling by the New York State Appellate Court could give the Japanese firm leverage to bring Xerox management back to the negotiating table. Fujifilm is also suing Xerox in a separate U.S. suit that seeks well over $1 billion, accusing it of breach of contract in abandoning the deal.
Its chances of success are, however, unclear as Xerox’s new van heusen cufflinks myer management, backed by Icahn and Deason, is opposed to the proposed merger, Analysts have said the only way for Fujifilm to gain any traction with Xerox now is to raise its offer, Fujifilm said in a statement it stands by its view that the original planned merger remains the best option for the shareholders of both companies, “(The) Court’s decision will allow us to discuss with Xerox the fulfillment of the original agreement, All Xerox shareholders ought to be able to decide for themselves the operational, financial, and strategic merits of the transaction to combine Fuji Xerox and Xerox,” it said..