1 MONGOLIA PM FACES LIKELY CONFIDENCE VOTE AMID CORRUPTION CLAIMS WWW.AFP.COM PUBLISHED:2025/06/02      2 RIO TINTO FINDS ITS MEGA-MINE STUCK BETWEEN TWO MONGOLIAN STRONGMEN WWW.AFR.COM PUBLISHED:2025/06/02      3 SECRETARY RUBIO’S CALL WITH MONGOLIAN FOREIGN MINISTER BATTSETSEG, MAY 30, 2025 WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/02      4 REGULAR TRAIN RIDES ON THE ULAANBAATAR-BEIJING RAILWAY ROUTE TO BE RESUMED WWW.MONTSAME.MN PUBLISHED:2025/06/02      5 MONGOLIAN DANCE TEAMS WIN THREE GOLD MEDALS AT THE WORLD CHAMPIONSHIP CHOREOGRAPHY LATIN 2025 WWW.MONTSAME.MN  PUBLISHED:2025/06/02      6 RUSSIA STARTS BUYING POTATOES FROM MONGOLIA WWW.CHARTER97.ORG PUBLISHED:2025/06/02      7 MONGOLIA BANS ONLINE GAMBLING, BETTING AND PAID LOTTERIES WWW.QAZINFORM.COM PUBLISHED:2025/06/02      8 HOW DISMANTLING THE US MILLENNIUM CHALLENGE CORPORATION WILL UNDERMINE MONGOLIA WWW.THEDIPLOMAT.COM PUBLISHED:2025/05/30      9 ORBMINCO ADVANCES BRONZE FOX PROJECT IN KINCORA COPPER PROJECT IN MONGOLIA WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/05/30      10 MONGOLIA SOLAR ENERGY SECTOR GROWTH: 1,000 MW BY 2025 SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/05/30      ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, С.БЕРДЫМУХАМЕДОВ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     Н.НОМТОЙБАЯР: ДАРААГИЙН ЕРӨНХИЙ САЙД ТОДРОХ НЬ ЦАГ ХУГАЦААНЫ АСУУДАЛ БОЛСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/02     Л.ТӨР-ОД МҮХАҮТ-ЫН ГҮЙЦЭТГЭХ ЗАХИРЛААР Х.БАТТУЛГЫН ХҮНИЙГ ЗҮТГҮҮЛЭХ ҮҮ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ЦЕГ: ЗУНЫ ЗУГАА ТОГЛОЛТЫН ҮЕЭР 10 ХУТГА ХУРААЖ, СОГТУУРСАН 22 ИРГЭНИЙГ АР ГЭРТ НЬ ХҮЛЭЭЛГЭН ӨГСӨН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООЖ, ШАЛГАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ГАДНЫ КИБЕР ХАЛДЛАГЫН 11 ХУВЬ НЬ УИХ, 70 ХУВЬ НЬ ЗАСГИЙН ГАЗАР РУУ ЧИГЛЭДЭГ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/02     НИЙТИЙН ОРОН СУУЦНЫ 1 М.КВ-ЫН ДУНДАЖ ҮНЭ 3.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     ГОВИЙН БҮСИЙН ЧИГЛЭЛД УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30     СОР17 УЛААНБААТАР ХОТНОО 2026 ОНЫ НАЙМДУГААР САРЫН 17-28-НД БОЛНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/30     НИЙСЛЭЛИЙН ТӨР, ЗАХИРГААНЫ БАЙГУУЛЛАГЫН АЖИЛ 07:00 ЦАГТ ЭХЭЛЖ 16:00 ЦАГТ ТАРНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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TD Ameritrade and TD bank nearing $4 bln deal to buy Scottrade- source www.reuters.com

 
TD Ameritrade Holding Corp (AMTD.O) and Toronto-Dominion Bank (TD.TO) are nearing buying Scottrade Financial Services [SCTRD.UL] in a $4 billion deal, a source familiar with the matter said.
 
TD Ameritrade, the biggest discount brokerage by trade executions, would acquire Scottrade's brokerage operations, and Toronto-Dominion would buy Scottrade's banking operations, the source said.
 
The deal could be announced as soon as pre-market hours on Monday, the source added.
 
TD Ameritrade, Toronto-Dominion Bank and Scottrade declined to comment.
 
In September, Bloomberg reported that Scottrade Financial was exploring a potential sale.
 
Scottrade has about 3,700 employees in about 500 branches across the United States.
 
In March, credit rating agency Fitch said Scottrade was trying to move away from focusing on transactional trading revenues and evolve toward more fee-based investment management revenue. [nFit951663]
 
Fee-based accounts yield more reliable income than commission-based trading accounts that rise and fall with clients' interest in the markets.
 
Wealth managers in the United States are cutting fees, relying more on technology to give advice and reducing the minimum amounts clients can hold in their brokerage accounts, all in preparation for a new rule governing how they advise retirement savers.
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RBS paid consortium including Church of England at least £180m for flotation www.theguardian.com

 
A consortium made up of private-equity firms and the Church of England has received at least £180m from Royal Bank of Scotland for backing the bailed-out bank’s aborted attempt to float off 300 branches on the stock market.
 
The Edinburgh-based bank, 73% owned by the taxpayer, has already admitted that the ill-fated attempt to carve out the 300 branches under the Williams & Glyn (W&G) brand has cost £1.5bn.
 
Documents filed at Companies House shed light on the sums paid by RBS to the consortium – which, as well as the Church of England, included Corsair Capital and Centerbridge – formed three years ago to participate in the flotation of W&G. In a complex deal, they put £600m into RBS through a bond, which was intended to be exchanged for shares when the new bank floated on the stock exchange.
 
RBS may reveal further costs associated with the troubled branch spinout when it publishes its third-quarter results on Friday, at the end of a week in which rival bailed-out bank Lloyds Banking Group also reports, along with Barclays.
 
The sale of the 300 branches was forced upon RBS by the EU as a penalty for its £45bn taxpayer bailout in 2008. It has run into repeated problems and must now be completed by the end of next year. Ross McEwan, the RBS chief executive, warned last month that RBS faces unchartered territory if he cannot find a solution.
 
An attempt to sell the branches to Santander collapsed in 2012 and the deal with the consortium clinched the following year. But any attempt at stock market flotation was abandoned in August and the bank is now looking for a buyer.
 
The consortium was to have ended up with a stake of between 30% and 49% when W&G floated and the £600m bond converted into shares. The consortium used £330m of its own money to pay for the bonds and borrowed £270m off RBS.
 
Documents at Companies House for Lunar Investors – a limited-liability partnership set up by members of the consortium – show that in the period 26 September 2013 to end-December 2015 RBS paid £184m in interest to the holders of the bond. The consortium was charged £18m in interest for its £270m loan.
 
RBS said at the time the transaction was announced in September 2013 that it would pay the consortium a rate of interest between 8% and 14% a year. The documents at Companies House indicate that RBS was paying the higher rate of interest to the investors. It paid £100m for the 15-month period to end of December 2014 and £84m for the 2015 calendar year.
 
RBS would not comment on the payments, nor would Corsair. The Church Commissioners, which manages £7bn of the Church of England’s investments and helps funds dioceses and parishes and helps pay the pensions for clergy, said it had invested in W&G “due to our belief in the importance of competition in the banking sector and the vital role of challenger banks.
 
“We are pleased to have been able to work with Williams & Glyn on ethics in banking and are grateful to the management team for their enthusiasm on this issue,” the Church Commissioners said. It is reported to have a 10% stake in the consortium.
 
There had been hopes that W&G would be a new high-street competitor to the big four – RBS, Lloyds, Barclays and HSBC – along with TSB, which was spun out of Lloyds under instructions from the EU because of its taxpayer bailout. TSB is now owned by Sabadell of Spain.
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US to examine AT&T Time Warner deal www.bbc.com

 
US lawmakers and both presidential candidates have raised questions about AT&T's deal to buy Time Warner.
The US telecoms giant, already the country's third largest cable provider, is paying $85.4bn (£70bn) for the company, which owns CNN and HBO.
A Senate subcommittee responsible for competition will hold a hearing in November.
However AT&T's chief executive Randall Stephenson believes regulators will approve the deal.
Senator Mike Lee, the Republican who chairs the antitrust subcommittee, said the deal would "potentially raise significant antitrust issues, which the subcommittee would carefully examine".
The biggest merger to be announced this year would combine AT&T's distribution network, which includes 130m mobile phone customers and 25m pay-TV subscribers, with content from the Warner Brothers film studios and the cable TV channels HBO, the Cartoon Network and CNN.
The competition concerns centre on higher prices for customers and less consumer choice.
A spokesman for the Democratic presidential candidate Hillary Clinton said there were "a number of questions and concerns" about the deal that regulators needed to scrutinise, but added "there's still a lot of information that needs to come out before any conclusions should be reached".
Meanwhile Republican candidate Donald Trump has said that he would block the merger if he wins, because it was "too much concentration of power in the hands of too few".
The president does not have the final say - that lies with the US Justice Department, which can approve, block or put conditions on the takeover going through.
Other critics, such as John Bergmayer from Public Knowledge, a campaign group that promotes access to affordable media, warned that consumers may lose out from the deal. Mr Bergmayer suggested that AT&T might let mobile customers watch TV and films from Time Warner without counting it against their data caps, which would make video from other providers less attractive.
But AT&T's Mr Stephenson argued that there was "no competitive harm that is being rendered by putting these two companies together, so any concerns by the regulators, we believe, will be adequately addressed by conditions."
One expert told Reuters he thought the deal would be approved. Darren Bush, who teaches antitrust at the University of Houston, said the Justice Department would "look at it but they won't stop it".
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Marubeni, Pertamina, Sojitz to win $2bn Indonesian gas plant contract www.asia.nikkei.com

 
TOKYO -- A consortium of Japanese and Indonesian businesses likely will build and operate a roughly 1.6-million-kilowatt natural gas-fired power station in Indonesia, one of the country's largest run by a private operator.
 
Indonesian state-owned oil company Pertamina and Japanese trading houses Marubeni and Sojitz took first place earlier this month in bidding for the estimated $2 billion project for state utility PLN. The trio is expected to sign a formal contract after final negotiations.
 
The plant, to be located in Cilamaya in West Java Province, east of Jakarta, is expected to come online around 2021 and sell electricity to PLN. It will be built and operated by a joint venture in which Marubeni and Pertamina will each hold 40% stakes, with Sojitz owning the rest.
 
They will also construct a floating liquefied natural gas terminal and pipelines for delivering gas to the power station. Power generation equipment will likely come from General Electric and other suppliers.
 
Indonesia is firing up efforts to develop power sources amid economic growth, with President Joko Widodo pledging to open plants with an aggregate 35,000 megawatts of capacity by 2019. Most will be coal fired, but demand is strong for gas power plants, which emit less carbon dioxide. The new plant will use a combined firing technology involving both gas and steam turbines.
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Foxconn to enter chip market, partner with ARM on design center in Shenzhen www.asia.nikkei.com

 
TAIPEI -- Key iPhone assembler Hon Hai Precision Industry, also known as Foxconn Technology Group, is trying to expand its foothold in the semiconductor industry by partnering with SoftBank Group-owned ARM to create a chip design center in the southern Chinese city of Shenzhen, people familiar with the matter told the Nikkei Asian Review.
 
The move highlights the ongoing efforts by the world's largest contract electronics maker to build more key components and tap into new technologies for future growth faced with weakening global demand for smartphones. While Foxconn Chairman Terry Gou has set an annual sales growth target for his manufacturing empire of 10%, Hon Hai's revenue for the first nine months of 2016 dropped more than 3% year-over-year.
 
One nascent field Gou has enthused about is the internet of things, the technology that requires a growing number of chips to help items in daily use to connect to the internet and communicate with each other.
 
According to research company IC Insights, the IoT chip market will grow 19% to $18.4 billion in 2016, and will expand to $29.6 billion in 2019. Research group IDC estimates that the total IoT market will top $5 trillion in 2019.
 
"We want to get into semiconductor design and production," Gou told China's Shenzhen Satellite TV last week, at around the time when Foxconn signed a memorandum of understanding with the Shenzhen government to work together on semiconductor technology and startup incubators. He did not elaborate further.
 
Sources familiar with the plan said that Foxconn is working with ARM, the British innovator whose chip technology is adopted by 95% of smartphones worldwide, to create a chip design center in Shenzhen, without providing details.
 
ARM, Foxconn and SoftBank all declined to comment.
 
Better service
 
Foxconn's attempt to build its own chips and its earlier acquisition of embattled Japanese electronics conglomerate Sharp in the hope of developing advanced organic light-emitting diode panel technology appear to be part of its strategy to better serve customers by supplying key components as well as providing assembly services.
 
Further, both chips and OLED panels offer better revenue and margins than Foxconn's core assembly business. OLED panels are expected to be adopted by Apple's premium iPhone handset next year.
 
Other than Apple, Foxconn also assembles handsets for major Chinese brands including Oppo, Huawei and Xiaomi, with Japan's Sharp also planning to increase its smartphone offerings.
 
An industry executive said that Foxconn has been trying to develop an application-specific integrated circuit (ASIC), a customized chip, even though the company's presence in the semiconductor field has been very limited so far.
 
ASIC is designed for specific functions, such as a thermal sensor. It is not as powerful as a core processor or a graphic processor, but demand for ASIC is expected to surge with the rise of the IoT.
 
"It's very likely that Foxconn wants to expand its business beyond assembly and grow by making more key components for its customers," an industry executive said. "There is always the possibility that Foxconn's major customers including Apple may want to outsource some simple chips, and Foxconn will definitely want to secure those new businesses if it has the capability."
 
Another industry source said that both Foxconn and Sharp have licensed chip technology from ARM previously.
 
Shenzhen connections
 
The person further said that Foxconn has recently made a strong investment commitment to the Shenzhen authorities with the signing of the memorandum of understanding.
 
Shenzhen is already home to Foxconn's China headquarters and now it seems that the coastal city may play an even more vital role in the Taiwanese manufacturing titan's future, with Apple also expanding operations in the area.
 
Earlier this month when Chief Executive Tim Cook visited Shenzhen, Apple, which accounts for more than 50% of Foxconn's annual revenue, announced that it will set up a research and development center in the coastal city, coinciding with Foxconn's move to deepen ties with local authorities.
 
During Cook's trip, Gou accompanied him to meet Chairman Xu Shaoshi of China's National Development and Reform Commission and other senior Shenzhen officials.
 
Meanwhile, the new Foxconn-ARM chip design center is being created following close collaboration between Gou and SoftBank Chairman and Chief Executive Masayoshi Son.
 
Both share the belief that the IoT will be a major growth driver in the future and it should become a core business of their respective companies. This conviction led Son to acquire ARM for 23 billion pounds ($31 billion) earlier this year.
 
Gou and Son have also been working together closely on other business opportunities. Foxconn has been making SoftBank's humanoid robot Pepper, and the two companies have been investing in renewable energy and startups together in India. They also have formed a joint venture with China's e-commerce giant Alibaba to market Pepper worldwide.
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FED Beige Book: US economy expands www3.nhk.or.jp

 
The US Federal Reserve says the country's economy continues to expand, raising speculation that the central bank will increase its key interest rate by the end of this year.
 
The Fed released its latest Beige Book on Wednesday. The report is based on surveys of businesses conducted by the bank's 12 districts.
 
It says overall consumer spending was mixed between late August and early October, but retail sales increased in a majority of districts.
 
Employment expanded at a moderate pace, while labor market conditions remain tight across most districts.
 
Some districts reporting labor shortages are putting upward pressure on wages in certain sectors.
The Beige Book cites concerns among some Fed officials that uncertainty over economic policies of the next administration could affect personal consumption.
 
Financial market players expect that Fed policymakers will not raise the interest rate at their next meeting in November, which will be held one week before the presidential election.
 
Speculation is growing that the central bank will decide on the first rate increase in a year in December.
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Joy Global shareholders approve $3.7 billion acquisition by Komatsu www.mining.com

 
Mining equipment maker Komatsu (TYO: 6301) scored a major win Wednesday as shareholders in its US-based competitor Joy Global (NYSE:JOY) overwhelmingly approved the proposed sale to the Japanese firm.
 
The $3.7 billion transaction, first announced in July, is the latest takeover in a string of outbound M&A deals by Japanese companies encouraged by a strong yen.
 
“[The] approval represents a key milestone on the path to completing the transaction, which will deliver compelling value to Joy Global stockholders and further our ability to lead the mining industry,” Ted Doheny, the company’s President and CEO said in the statement.
 
Under the terms of the agreement, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held, representing a 48% premium to the volume weighted average closing price of Joy Global’s common stock for the 90 trading days, and a 41% premium to the volume weighted average closing price of the firm's common stock for the 60 trading days prior to July 21, the day the deal was announced.
 
Stronger in the West
 
The deal, Komatsu’s biggest-ever acquisition, is set to boost its ability to compete with Western rivals, particularly Caterpillar (NYSE:CAT).
 
The transaction still remains subject to other closing conditions and regulatory clearances in other countries. Regulators in the U.S. and Canada have already cleared the transaction, which is on track to close in early- to mid-2017.
 
Joy Global will operate as a separate subsidiary of the Tokyo-based firm, the world's second-biggest mining and construction equipment maker, and will retain the Joy Global name and headquarters in Milwaukee, company officials have said.
 
Currently, Komatsu only makes surface-mining equipment, while Joy is the largest independent manufacturer of machines used underground.
 
The deal is expected to close next year.
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Mattel sales beat estimates as Barbie shines www.reuters.com

 
Mattel Inc (MAT.O), the largest U.S. toymaker, reported better-than-expected quarterly revenue, driven by strong demand for its flagship Barbie and Fisher-Price brands.
 
Mattel's shares rose about 6 percent to $32.39 in extended trading.
 
Barbie's worldwide sales increased 15.8 percent in the third quarter ended Sept. 30 as Mattel's efforts to revive sales of its signature brand gained traction.
 
In January, Mattel rolled out Barbie dolls in a variety of skin tones, hairstyles and outfits and in three new body shapes - tall, curvy and petite - to appeal to a larger demographic.
 
The launch of the new range followed two years of declining sales of Barbie dolls around the world as girls increasingly turn to other dolls, electronic toys and tablets.
 
The company had also changed its marketing strategy to position its dolls as more than a pretty face, with ad campaigns such as "You Can Be Anything" highlighting the potential of women in various professions.
 
Fisher-Price and the Wheels category, which includes Hot Wheels, were also bright spots for Mattel in the third quarter, with sales rising about 6 percent each.
 
Sales of its American Girl products were up 14 percent, compared with a 2 percent decline a year earlier.
 
Mattel in August announced a multi-year partnership with retailer Toys "R" Us Inc to have retail units of American Girl dolls and accessories in its stores.
 
"While we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook," Chief Executive Christopher Sinclair said in a statement on Wednesday.
 
‎El Segundo, California-based Mattel's revenue rose to $1.80 billion from $1.79 billion. Analysts on average had expected $1.77 billion, according to Thomson Reuters I/B/E/S.
 
Net income rose to $236.3 million, or 68 cents per share, from $223.8 million, or 66 cents per share, a year earlier.
 
Excluding items, the company earned 70 cents per share, a cent below the average analyst estimate.
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Saudi Arabia expects to raise record $17.5bn in bond sale www.rt.com

 
Riyadh plans to sell $17.5 billion in its first bond offering, several media outlets report. It would make the Saudi bond issue the largest from an emerging-market nation, outpacing Argentina’s $16.5 billion offering in April.
 
According to Bloomberg quoting sources in the government, the Saudis plan to sell dollar-denominated bonds due in five years for about 140 basis points more than similarly maturing US Treasuries, 10-year bonds at a spread of about 170 basis points and 30-year securities at 215 basis points.
 
The Financial Times said the yields will be 2.63 percent, 3.44 percent and 4.64 percent, respectively. The original guidance stipulated 10-year bonds to be sold at 3.6 percent.
 
The demand for Saudi bonds much exceeded the offer. Investors had applied for $67 billion for the Kingdom’s first international bond sale.
 
Saudi Arabia saw a record $98 billion budget deficit last year, or 15 percent of GDP, and is struggling to cut the gap this year. The country plans to use the money raised in the bond sale to cut the deficit, easing pressure on burning through its foreign reserves.
 
As of late August, Saudi Arabia’s reserves stood at $555 billion, down $6 billion from the month before and at the lowest level since 2012. The holdings peaked in August 2014 at $737 billion before the oil prices plummeted from $114 per barrel to the current $50.
 
"Not only could the bond help develop the Kingdom’s debt markets by introducing a more sophisticated type of investor, but there are also positive ripple effects for Gulf Cooperation Council fixed income as well as more global investors take a closer, and longer-term, look at the region," said Mohieddine Kronfol, chief investment officer for Middle East fixed income at major asset manager Franklin Templeton Investments.
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DiCaprio to cooperate with Feds in money laundering probe www.rt.com

Leonardo DiCaprio will work with the US Department of Justice (DOJ) in a corruption investigation into Malaysia's sovereign wealth fund 1MDB.
 
The Hollywood actor's charity foundation and movie The Wolf of Wall Street allegedly received money stolen from the fund.
 
The actor is ready to give back all the money if the investigation reveals it came from people or organizations involved in corrupt practices, according to DiCaprio's representative.
 
“Mr. DiCaprio is seeking to determine whether he or his charitable foundation (Leonardo DiCaprio Foundation, LDF) had received any gifts or charitable donations directly or indirectly related to these parties, and if so, to return those gifts or donations as soon as possible,” the actor’s spokesman said as quoted by WSJ.com.
 
Starting from July, when US authorities raised the allegations, DiCaprio has been entirely supportive of all efforts to assure that justice is done in the matter, according to the spokesman.
 
“Mr. DiCaprio is grateful for the lead and instruction of the government on how to accomplish this,” he stressed.
 
In July, Hollywood production company Red Granite Pictures was charged with using $100 million allegedly diverted from the 1MDB fund to finance Martin Scorsese’s 2013 movie The Wolf of Wall Street, in which DiCaprio starred.
 
Later, the DOJ launched an investigation into an alleged link of the actor’s foundation to fraudulent operations by the Malaysian fund. Over $3 billion has allegedly been diverted from 1MDB by one of the fund's creators Malaysian financier Jho Low.
 
The Oscar-winning actor has been embroiled in the 1MDB issue because of his association with Jho Low and others connected to the film. It includes Riza Aziz, co-founder of Red Granite Pictures and stepson of Malaysian Prime Minister Najib Razak.
 
Last week, Switzerland’s Bruno Manser Fund called on DiCaprio to step down from the position as a United Nations “Messenger of Peace for Climate Change” amid possible ties to the alleged fraud.
 
The US Justice Department is looking to seize $1 billion in what it charges to be misappropriated funds. The total sum allegedly diverted by the fund comes to more than $3.5 billion.
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