Sharon Lam joined Breakingviews in late 2017. She previously covered technology and culture at Forbes, and has also worked at Mirae Asset Global Investments and HSBC private bank. Sharon holds a bachelor's degree in international relations and political science from Tufts University, where she wrote and edited for Hemispheres, an international relations journal. She is based in Hong Kong.
VW is taking big stakes in two Chinese EV firms, while Daimler may invest in battery-maker Farasis Energy’s $480 mln IPO. Demand remains tepid, oil is too cheap, and the targets look richly priced. But these deals lock in supply, and position both to compete with Tesla in China.
Despite the whopping 30% fall in globetrotting expected this year, tourists will pack their bags again just as they have after past crises. Health precautions will add costs, however, while empty middle seats hurt revenue. The relevance of corporate flyers also is bound to wane.
Sheldon Adelson's firm is scrapping a $10 bln project to open a casino in the country. Short licensing periods, tough government requirements, high costs and reluctant banks are deterring the best operators. It’s a bad omen for Tokyo’s gambling tourism ambitions.