Altus Power Inc., a builder and operator of solar-power installations on the roofs and parking lots of commercial properties, is merging with a special-purpose acquisition company sponsored by CBRE Group Inc. in a deal that values Altus at $1.58 billion.

The deal gives Altus expansion capital as well as access to CBRE's clients which include many of the top companies and real-estate owners in the U.S., Asia and Europe. Dallas-based CBRE is one of the world's largest commercial brokerages and real-estate services firms with a facilities-management business that has grown from 3.7 billion square feet in 2015 to 7 billion square feet today.


China Clears Tencent-Sogou Deal

China's top market watchdog approved Tencent Holdings Ltd.'s plan to privatize search-engine affiliate Sogou Inc. in a deal valued at around $2 billion that comes as the country's technology giants face heightened antitrust scrutiny.

The unconditional blessing announced Tuesday by the State Administration of Market Regulation is likely a relief for Tencent, after the regulator last week blocked the tech conglomerate's bid to combine the country's two biggest game-streaming platforms.


Nokia Expects to Raise FY Guidance

Nokia Corp. said Tuesday that it expects to raise 2021 guidance after experiencing continued business strength during the second quarter, improving its expectations for the full year.

The telecommunications company said it is progressing well with its three-phased plan to achieve sustainable, profitable growth and technology leadership that it laid out earlier this year.


Chinese Developer Languang Development Slips on Bond Default

Shares of Sichuan Languang Development Co. are hovering near a decade low after the company defaulted on a bond and announced overdue debt of more than $700 million, the latest sign of trouble in China's heavily indebted property-development sector.

The Sichuan-based company failed to repay 967.5 million yuan ($149.4 million) in principal and interest due on a 2019 medium-term bond that matured over the weekend, it said in a filing to the Shanghai Stock Exchange Tuesday. Including bank and trust loans, the company has overdue debt of CNY4.54 billion, it said.


IFIT to Buy Fitness Platform Sweat for $300 Million Ahead of IPO

IFIT Health & Fitness Inc. will acquire Sweat, an online fitness training platform, ahead of an initial public offering that is expected in the fall, according to people familiar with the matter.

IFIT is buying Sweat, which was co-founded by trainer Kayla Itsines and CEO Tobi Pearce in 2015, for around $300 million, some of the people said. IFIT plans to keep Sweat, which is based in Australia, as a stand-alone brand and Ms. Itsines and Mr. Pearce as executives.


Hg to Make $1 Billion Investment in Insightsoftware

Hg is investing around $1 billion in private-equity-backed financial-reporting software company insightsoftware, according to a filing made Tuesday with U.K. regulators.

The equity investment values insightsoftware at about $4 billion, and gives Hg joint control of the company alongside private-equity firm TA Associates, the document said.


Medicare to Review Coverage for New Alzheimer's Drug Aduhelm

Medicare officials are beginning a review of Biogen Inc.'s new Alzheimer's drug to decide whether to standardize coverage of the medicine nationally, a widely-anticipated step that would allow the government to place limits on who can receive the medicine.

The review of Biogen's drug, called Aduhelm, will include an analysis of published clinical studies and medical society guidelines, as well as two public hearings later this month to assess the therapy's benefits, the U.S. Centers for Medicare and Medicaid Services said on Monday.


June Consumer Prices Likely Rose Sharply Again as Economy Rebounded

U.S. consumer prices likely continued to climb swiftly in June, as the economic recovery gained steam and demand outpaced the supply of labor and materials.

Economists surveyed by The Wall Street Journal estimate that the Labor Department will report the consumer-price index increased 5% in June from a year ago, matching May's increase and continuing the highest 12-month rate since 2008. The so-called core price index, which excludes the often-volatile categories of food and energy, likely rose 4% from a year before, they estimate.


Fed's Bullard: Time Is Right to Pull Back on Central Bank Stimulus

Federal Reserve Bank of St. Louis President James Bullard is ready to start slowing the pace of central bank bond buying as soon as his colleagues are, worried in part that the purchases risk overheating the gangbusters housing market.

"I think with the economy growing at 7% and the pandemic coming under better and better control, I think the time is right to pull back emergency measures," Mr. Bullard said Monday in an interview with The Wall Street Journal.


OPEC+ Uncertainty, Virus Variant Worries Linger in Oil Market, IEA Says

The recent failure of OPEC and its allies to agree on a plan to ease production cuts in August means oil-market investors face the contradictory worries of both undersupply and oversupply, the International Energy Agency said Tuesday.

The Paris-based organization said that if the Organization of the Petroleum Exporting Countries and its allies cannot reach a supply agreement, the crude market faces "the prospect of a deepening supply deficit." With the global oil market having now used up the supply glut it accrued at the start of the pandemic, potential inflationary pressures could damage the fragile global economic recovery, the IEA said.


China's Export Engine Accelerates, Defying Expectations

China's imports and exports posted stronger-than-expected growth in June as global demand for Chinese goods remained solid and sporadic Covid-19 outbreaks in the country's biggest export hub didn't hit outbound shipments as much as expected.

China's exports increased 32.2% from a year earlier in dollar terms, accelerating from a 27.9% gain in May, data from the General Administration of Customs showed Tuesday. The reading was far stronger than the 23.2% growth forecast by economists polled by The Wall Street Journal, defying concerns that China's post-Covid export boom was coming to an end.


BOE Calls for Banks to Support Recovery, Backs Removal of Dividend Limits

The Bank of England said U.K. banks must continue to support households and businesses as the economy recovers from the Covid-19 pandemic and backed the removal of limits on dividend payouts.

The BOE's Financial Policy Committee, which monitors risks to financial stability, said corporate debts have risen, especially among small and midsize companies, as firms tapped government-backed loans to support themselves through lockdowns.


Democrats Hone Price Tag for Climate and Antipoverty Package

WASHINGTON-Senate Democrats haggled late Monday over the size and scope of a package including climate provisions, child care and other programs they plan to squeeze through the chamber later this year without any GOP support.

Back in Washington after a two-week recess, Democrats on the Senate Budget Committee said they would resume discussions Tuesday as they rush to settle on the overall price tag of a colossal legislative package they hope to pass later this year through a special process tied to the budget, known as reconciliation. Senate Majority Leader Chuck Schumer (D., N.Y.), who met with the committee's Democrats Monday, said he hopes to pass a budget resolution setting its parameters before the chamber departs for its August break.


Haiti on Brink of Anarchy Amid Hunger, Gang Violence and Power Vacuum

PORT-AU-PRINCE, Haiti-Nearly half of the population on this island nation is facing acute hunger, while gang members block fuel distribution routes to the capital and scare away tourists from pristine beaches. In contrast to neighboring countries, Haiti has yet to administer a single vaccine against Covid-19.

A country that for much of its history has been stifled by poverty and strife is now mired in its worst crisis in a generation after President Jovenel Moïsewas assassinated in his home last week in a murky attack the police blame on two dozen foreign mercenaries and a 63-year-old doctor they say wanted to be president.




Aritzia 1Q

Opsens 3Q

OrganiGram 3Q

Score Media and Gaming 3Q

Economic Indicators:

Nothing scheduled

Expected Major Events for Tuesday

06:00/GER: Jun CPI

06:45/FRA: Jun CPI

08:00/FRA: Jul IEA Oil Market Report

10:00/US: Jun NFIB Index of Small Business Optimism

11:45/US: Weekly Chain Store Sales Index

12:30/US: Jun Real Earnings

12:30/US: Jun CPI

12:55/US: 07/10 Johnson Redbook Retail Sales Index

16:59/GER: May Balance of Payments

18:00/US: Jun Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

20:30/US: 07/09 API Weekly Statistical Bulletin

All times in GMT. Powered by Kantar Media and Dow Jones.

Expected Earnings for Tuesday

AngioDynamics (ANGO) is expected to report $-0.10 for 4Q.

Aritzia Inc (ATZ.T) is expected to report $0.18 for 1Q.

Aspen Group Inc (ASPU) is expected to report $-0.07 for 4Q.

Century Bancorp (CNBKA,CNBKB) is expected to report for 2Q.

Conagra Brands Inc (CAG) is expected to report $0.51 for 4Q.

FTI Consulting (FCN) is expected to report $1.60 for 4Q.

Fastenal Co (FAST) is expected to report $0.41 for 2Q.

Fastenal Co (FAST) is expected to report.

First Republic Bank (FRC) is expected to report $1.73 for 2Q.

Goldman Sachs Group (GS) is expected to report $10.00 for 2Q.

Guided Therapeutics Inc (GTHP) is expected to report for 1Q.

JPMorgan Chase & Co (JPM) is expected to report $3.16 for 2Q.

Kura Sushi USA Inc (KRUS) is expected to report for 3Q.

(MORE TO FOLLOW) Dow Jones Newswires

07-13-21 0602ET