Bloomberg Toshiba Corp. picked a group led by Bain Capital and Japanese investors as the preferred bidders for its memory chip business, bringing much needed cash into the Japanese company to make up for losses in its nuclear operations. The parties are aiming to reach final agreement by June 28 and close the transaction by March, Toshiba said in a …

Bloomberg Tencent Holdings Ltd. is best known for super-app WeChat and its relentless pace of startup investment. Now the Chinese social media giant is looking beyond Earth-bound opportunities. China’s largest corporation has invested in Moon Express, a startup that aims to put drones on the lunar body; Argentina’s Satellogic, which specializes in satellite imagery; and Planetary Resources, which is looking …

Bloomberg China Hongqiao Group Ltd., the nation’s biggest aluminum smelter, is curtailing outdated capacity amid a broader crackdown by the government on illegal production. Shares of aluminum makers gained in China. The company, the main aluminum arm of Shandong Weiqiao Pioneering Group Co., declined to give the scale or timing of the reduction in an emailed statement. Two people with …