Tesla was proceeding with an online hiring event in China on Thursday (Jun 9) and added two dozen new job postings for the country, a week after Elon Musk threatened job cuts at the electric car maker and said the company was “overstaffed” in some areas. Tesla plans to hold the event online starting from 7 pm Shanghai time (11 am GMT) and will recruit staff for “smart manufacturing” roles, according to an online post. Tesla has 224 current openings in China for managers and engineers under that category, according to a separate post on its WeChat account, 24 of which were newly posted on Jun 9. Among the posted positions are managers and engineers to supervise the operation of its 6,000-ton die casting machines known as Giga Press, one of the worlds biggest. Tesla regularly holds such hiring events online in China, with the latest one held in May for summer interns. Tesla’s China revenue more than doubled in 2021 from a year ago, contributing to a quarter of the total income for the US automaker.
Microsoft is partnering with Samsung Electronics to allow gaming fans to play Xbox games directly on smart TVs without a console. Starting Jun 30, hundreds of cloud-enabled games attached to the Xbox Game Pass Ultimate subscription, which costs US$14.99 a month without promotional pricing, will be available through Samsung's Gaming Hub, similar to using any other streaming app on a TV. Later this year, Game Pass Ultimate subscribers will be able to play some of the games they already own using the cloud and without a download, even if the games aren't currently in the Game Pass library. That expands the cloud-gaming features, which let users play on various devices and are presently only available for Game Pass titles.
United Hampshire US Real Estate Investment Trust (UHReit) is acquiring a grocery-anchored freehold shopping centre for US$85.7 million in Pennsylvania, expanding its footprint in the affluent Eastern seaboard. The purchase price for Upland Square in Pottsdown, Pennsylvania is 0.3 per cent below the independent valuation of US$86 million, the Reit’s manager said on Thursday (Jun 9). Upland Square has a net lettable area of about 400,674 square feet, with a 100 per cent committed occupancy rate and a long-forward committed weighted average lease expiry of 6.3 years. Anchor tenants include Giant by Ahold Delhaize, a leading supermarket operator in mid-Atlantic US, and popular national off-price retailers such as TJ Maxx, Ross, and Burlington. There are 35 tenants in all. The acquisition is expected to increase UHReit’s pro forma distribution per unit by 2.13 per cent, to 6.23 US cents, the manager said. Committed occupancy of UHReit portfolio will increase to 96.6 per cent with this acquisition - the highest occupancy achieved since its initial public offering. UHReit, which made its debut on the Singapore Exchange on Mar 12, 2020, is the first Reit with US exposure here.
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