Tausi Insider

Unfinished apartment buildings at a residential complex developed by Jiadengbao Real Estate, in Guilin, Guangxi Zhuang Autonomous Region, China, on Sept. 17. STAFF/Reuters Chinese property stocks and bonds soared on Monday as the market cheered Beijing’s “most comprehensive” support measures aimed at boosting liquidity in the sector in its latest attempt to stabilize a key pillar for the world’s second-largest economy. The package, which sources say lays out multiple financing measures for the cash-strapped industry, was hailed by analysts as a “turning point” with one even describing it as the equivalent of “soaking rain after a long drought.” China’s property sector, which accounts for a quarter of the economy, has struggled with defaults and stalled projects, hitting market confidence and weighing on growth. Previous efforts by policy-makers to help ease the cash crunch have done little to bolster the property market. The plan comes nearly a month after Chinese President Xi Jinpin...

After five days of testimony, including three hours from Elon Musk, a Delaware judge will now decide whether Musk’s $56-billion pay package from Tesla Inc was justified by the company’s explosive growth or undermined by a flawed process. Musk and the Tesla directors named as defendants repeatedly testified that the package achieved what it set out to do – deliver 10-fold growth in the company’s stock price, enriching investors and Musk. “We thought if we could pull this off, if this plan was executed, Tesla would be one of the most valuable technology companies,” Antonio Gracias, a Tesla board member from 2007 to 2021, told the Delaware Court of Chancery on Wednesday. “It was a great deal for the shareholders.” The trial seeks to resolve claims by shareholder Richard Tornetta that the 2018 pay package was dictated by Musk, the world’s richest person, to subservient directors and approved by a vote of shareholders who were misled by Tesla. The trial wrapped up on Friday, as Musk strug...

Poland withdrew its objections to a minimum corporate tax at an EU summit on Thursday, unblocking a whole package of linked agreements that includes €18-billion ($19.16-billion) in financing for Ukraine in 2023, diplomats said. Leaders had been held up on several fronts at the Brussels summit, at the end of a tumultuous year which saw the EU close ranks to support Ukraine after Russia’s invasion but also often struggle to agree how much pressure to put on Moscow. Diplomats said Poland had blindsided EU peers who had not expected its objection to a carefully negotiated package, but Warsaw’s veto had now been dropped. “There is a deal,” one said. Ukrainian President Volodymyr Zelensky had earlier addressed leaders by video link and urged them to approve the aid his country needs nearly 10 months into the war. “I am asking you very much to ensure that our struggle for peace for Ukraine and for the whole of Europe does not depend on misunderstandings and controversies between some EU mem...

Fans will have to Google it beginning next season if they want to access the NFL’s “Sunday Ticket” package. The NFL announced an agreement on Thursday for Google to distribute the package of out-of-market Sunday afternoon games on YouTube TV and YouTube Primetime Channels. The seven-year deal is worth a little more than $2-billion per season. The package has been on DirecTV since 1994. The satellite provider has paid $1.5-billion per year on an eight-year contract that expires at the end of this season. The NFL had been seeking $2.5-billion per season for the package. It could still reach that total since the league retains commercial rights to bars and restaurants and is in the midst of selling those rights. Commissioner Roger Goodell said during an interview with CNBC over the summer that the next move for “Sunday Ticket” would be to a streaming service because that would be the best option for fans. Goodell reiterated that with Thursday’s announcement. “For a number of years we ha...