Corporate bits | Wynn Macau to distribute Summer bonus

Wynn Macau has announced that a summer bonus, equal to one month’s gross salary, will be given to nearly 9,000 eligible Wynn Macau and Wynn Palace employees (excluding senior management) on Friday, July 15.
According to Wynn Macau, the bonus is being awarded despite the ongoing challenges faced by the industry, in celebration of the opening of Wynn Palace on August 22 as well as Wynn Macau’s 10th anniversary in September.

Tai Fung Bank, CTM and BOC launch  co-branded Visa Credit Card

Tai Fung Bank, CTM and BOC Credit Card (International) Limited have launched the Tai Fung CTM Visa Signature Credit Card, a co-
branded credit card for CTM customers in pursuit of “quality lifestyle and distinguished service experience.”
Registered customers will be eligible to enjoy CTM’s exclusive telecommunications services privileges, financial services and day-and-night concierge services, according to CTM’s press release.
Until 31 December 2017, Tai Fung CTM Visa Signature Credit Cardholders can enjoy up to 600 percent of their bonus points for spending in local dining and hotels, as well as those overseas. Cardholders will also enjoy unlimited free access to Priority Pass Airport Lounges worldwide and designated Plaza Premium Lounges.

Telefonica sells china unicom stake valued at up to usd367m

Telefonica SA, facing roadblocks in the planned sales of its assets following Britain’s vote to leave the European Union, is paring a stake in China Unicom (Hong Kong) Ltd. to raise as much as $367 million.
The sale of 361.8 million shares began today and the stock is being offered at HKD7.75 to HKD7.85 apiece, according to terms of the deal seen by Bloomberg News. The deal has demand for all the stock on offer, said people familiar with the matter, who asked not to be named while the transaction is underway.
Telefonica risks having its credit rating cut if the carrier doesn’t come up with a clear way to reduce debt by year end, Moody’s Corp. analyst Carlos Winzer said last month. Telefonica shelved plans to sell a stake in its U.K. wireless carrier O2 amid market volatility following the country’s referendum.
Since the referendum, Telefonica has declined 7.9 percent, underperforming the Stoxx 600 Telecommunications Index of European companies. Telefonica needs to raise about 14 billion euros ($15.5 billion) to achieve its target of a ratio for reported net debt to earnings before interest, taxes, depreciation and amortization of 2.35, according to Winzer.