Toho Titanium Shares Jump as JX Metals Mulls Unwinding
Toho Titanium Co. shares surged after parent JX Advanced Metals Corp. said it's considering ways to unwind the listing of the titanium unit as Japan's complex system of subsidiaries comes under scrutiny.
JX will take full control of Toho if synergies between the two companies increase, President Yoichi Hayashi said in an interview with Bloomberg News on Wednesday. Shares of Toho jumped as much as 19%, the most since May 2022, while JX shares extended gains after the report.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
11 minutes ago
- Bloomberg
Charting the Global Economy: Key Central Banks Hold on Rates
Central bankers in the US, UK and Japan held the line on interest rates this week as officials attempt to gauge the impact of tariffs, uncertainty about economic activity and war in the Middle East. While the median forecast from US Federal Reserve officials showed two interest-rate cuts by the end of the year, seven policymakers — up from four at the March meeting — indicated they see no reduction.
Associated Press
42 minutes ago
- Associated Press
Octa's oil outlook: Middle East tensions threaten global supply
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 21 June 2025 - Crude oil, which is arguably the world's most important commodity, is on everybody's mind right now. The flared up conflict in the Middle East is increasing risks of a major oil supply shock, potentially pushing the price of 'black gold' into the stratosphere and completely derailing the global economy. In this article, Octa, a global retail broker, shares its expert opinion on the unfolding situation and outlines possible scenarios for the global oil market. Octa Broker As it often happens, the market started to price in the possibility of a new conflict in the Middle East well in advance. On 11 June, oil prices rose more than 4% after reports surfaced that the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the region. Two days later, Israel and Iran exchanged airstrikes, pushing both Brent and West Texas Intermediate (WTI), the world's two major oil benchmarks, to five-month highs as investors anticipated potential supply disruptions from an open conflict. To this day, the conflict continues without resolution and oil prices remain elevated even as there are some telltale signs that the parties may be willing to negotiate. 'This burgeoning unrest introduces an unprecedented degree of volatility, significantly amplifying the specter of a catastrophic oil supply shock', argues Kar Yong Ang, a financial market analyst at Octa broker, adding that the conflict between Israel and Iran 'carries ominous potential to propel crude prices to unprecedented levels, thereby unleashing a cascade of detrimental effects that could, in the most dire of scenarios, cause a major global economic crisis'. Indeed, the Middle East in general and Iran in particular play a pivotal role in global energy markets. A substantial portion of the world's crude oil and liquified natural gas (LNG) is produced and exported in this region. Iran itself, despite the existing sanctions on exports, remains an important supplier of oil—notably, for China. Furthermore, a vast number of ships carrying crude oil and LNG transit through the Strait of Hormuz, a narrow yet vital chokepoint that Iran has repeatedly threatened to close. Should Iran act on this threat and block the strait, the repercussions would be quite severe, likely pushing global crude oil prices well above $100 per barrel, or even higher, due to the significant disruption of supply. Technically, if we look at a broader, long-term picture, WTI crude oil seems to be moving sideways with a minor bearish tilt. On a daily chart (see below), the price still has not escaped from the bearish parallel channel. However, due to the latest geopolitical news, the price has managed to rise above the 200-day moving average (MA) and seems poised to break above the critically important 77.60-78.00 area. 'Breaching the $80 handle should not be difficult if the current situation deteriorates sharply', says Kar Yong Ang. 'Continuing destruction of oil infrastructure in Iran, potential U.S. involvement in the war, countries' unwillingness to negotiate and, above all else, Iran's attempts to block the Strait of Hormuz, all of this will have a bullish impact on prices'. Indeed, a break above 80 level, would open the way towards 83.40, 85.20, 87.30, and 90.00 area. Alternatively, in case the hostilities moderate somewhat, other countries—particularly the U.S.—refrain from directly participating in the conflict, and both Israel and Iran express willingness to negotiate, bearish sentiment will immediately kick in. 'I think WTI oil may lose as much as 5 dollars per barrel in the blink of an eye should we see some progress in nuclear negotiations between Europeans and Iranians, which are due to commence in Geneva this Friday', concludes Kar Yong Ang. In this scenario, a break below 71.50 level would allow bears to target 67.80, 64.80 and 61.70. Overall, WTI crude price is now stuck in a broad range between $70 and $80. The move above and below these two levels will essentially indicate if the situation in the region is getting worse or is getting better. The chart below shows potential bullish and bearish targets, marked in green and red, respectively. NYMEX light sweet crude oil (WTI) daily chartSource: TradingView, Octa analysis and calculations ___ Disclaimer: This press release does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences. Hashtag: #Octa The issuer is solely responsible for the content of this announcement. Octa Octa
Associated Press
42 minutes ago
- Associated Press
SINOVAC Board of Directors Prevails Against Advantech/Prime's New York Lawsuit
BEIJING--(BUSINESS WIRE)--Jun 20, 2025-- SINOVAC Biotech Ltd. (NASDAQ: SVA) (' SINOVAC ' or the ' Company '), a leading provider of biopharmaceutical products in China, today announced it has prevailed against Advantech/Prime Success' ('Advantech/Prime') Petition for Emergency Injunctive Relief in the U.S. District Court for the Southern District of New York. The result in the New York court represents another failure in the campaign by Advantech/Prime in coordination with Vivo Capital (together known as the 'Dissenting Investor Group') to wrest control of SINOVAC from its recently installed, lawfully-elected Board of Directors (the 'current SINOVAC Board') in accordance with the Privy Council order and Antiguan Law, and to interfere with the payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board. Following the New York court's ruling, the current SINOVAC Board is free to pursue its legal action in Antigua seeking to cancel the PIPE shares invalidly issued to the Dissenting Investor Group by the former illegitimate board (the 'Imposter Former Board'). If the current SINOVAC Board succeeds in legal proceedings on the PIPE shares, it has announced its intention to redistribute an additional US$11.00 per common share to SINOVAC's valid shareholders. Dr. Chiang Li, Chairman of the SINOVAC Board, commented, 'We will continue our mission to restore fairness and deliver value to all valid SINOVAC shareholders, starting with paying the $55.00 per share special cash dividend as soon as July 7, 2025.' The Dissenting Investor Group's self-serving, multi-pronged lawfare strategy against SINOVAC has one goal: to prevent all valid SINOVAC common shareholders from receiving any dividend payments unless the Dissenting Investor Group receives an allocation for their invalid PIPE shares, despite the fact that they have already received over US$1 billion in dividends from a SINOVAC operating subsidiary. The current SINOVAC Board has set aside in escrow the pro rata portion of dividends for the PIPE shares — funds the Dissenting Investor Group could receive if the legal proceedings they initiated rule in their favor. The current SINOVAC Board is fighting back – and winning. We feel certain that we will prevail against any further legal action by the Dissenting Investor Group and look forward to ensuring all valid shareholders receive their fair share. Your Vote is Important Your vote on or before July 8 will be about the future of SINOVAC, your receipt of your make-whole dividend payments in the near-term, and the long-term value of your investment. We urge you to keep SINOVAC's Board in place and vote on the WHITE proxy card ' AGAINST ' Proposal 1 to remove the current Board and ' AGAINST ' Proposal 2 to appoint the Reconstituted Imposter Board Slate. Your vote is critical to ensuring that SINOVAC remains on the path to stability, growth, and value creation for all shareholders. DISCARD any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count! If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S. and (646) 543-1968 outside the U.S. or via email at [email protected]. About SINOVAC Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases. SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc. The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under 'Category 1 Preventative Biological Products' and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO. SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program. SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations. Important Additional Information and Where to Find It In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ('SEC') and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, or from SINOVAC at its website: You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at [email protected]. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. View source version on CONTACT: Investor and Media Contact FGS Global [email protected] KEYWORD: CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC NEW YORK INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH SOURCE: The Board of Directors of Sinovac Biotech Ltd. Copyright Business Wire 2025. PUB: 06/20/2025 10:56 PM/DISC: 06/20/2025 10:55 PM
