Sep.21 — Santosh Nagalingaswamy, senior adviser of valuation services at Duff & Phelps, discusses the brand value of the Indian Premier League, the challenges the team is facing due to covid-19 and the pullout from Chinese advertisers. He speaks on “Bloomberg Markets: Asia.” …read more […]
Sep.21 — Thailand’s biggest anti-government protest in months has ended with calls for a general strike as demonstrators challenge long-held taboos on authority and the monarchy. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Markets: Asia.” …read more […]
Sep.21 — Thailand’s biggest anti-government protest in months has ended with calls for a general strike as demonstrators challenge long-held taboos on authority and the monarchy. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Markets: Asia.” …read more […]
Sep.21 — A new investigation by a consortium of investigative journalists claim that some of the world’s leading banks may have been involved in moving trillions of dollars in illicit funds over the past two decades. Among the banks named are HSBC Holdings Plc. and Standard Chartered Plc. Bloomberg’s Su Keenan reports on “Bloomberg Markets: Asia.” …read more […]
The UK bank’s Asian valuation suffers its biggest slump for decades, after money laundering allegations. …read more […]
(Bloomberg) — Jack Ma’s Ant Group is seeking to raise at least $35 billion in its initial public offering after assessing early investor interest, people familiar with the matter said, putting the Chinese fintech giant on track for a record debut sale.Ant lifted its IPO target based on an increased valuation of about $250 billion, up from previous estimates of $225 billion, said the people, who asked not to be identified discussing private matters. It was earlier expecting to raise at least $30 billion, people familiar have said. Ant’s simultaneous listing in Hong Kong and Shanghai may mark the biggest …read more […]
Sep.20 — Beth Kindig, lead technology analyst at Beth.Technology, discusses the TikTok-Oracle deal, the tech sector and where she’s finding opportunity. She speaks on “Bloomberg Markets: China Open.” v …read more […]
(Bloomberg) — ByteDance Ltd. emphasized it will remain in control of a hived-off TikTok Global business, appearing to contradict President Donald Trump’s statements about how the new entity will be directed by Americans and pay an unusual $5 billion fee to the U.S. government.The world’s most valuable startup sought to play down speculation it’s giving up control of valuable Chinese technology and assets after striking a deal with Oracle Corp. and Walmart Inc. to create TikTok Global. ByteDance will retain full control of its prized social media algorithms and allow Oracle only limited access to view source code for “safety” …read more […]
(Bloomberg) — ByteDance Ltd. emphasized it will remain in control of a hived-off TikTok Global business, appearing to contradict President Donald Trump’s statements about how the new entity will be directed by Americans and pay an unusual $5 billion fee to the U.S. government.The world’s most valuable startup sought to play down speculation it’s giving up control of valuable Chinese technology and assets after striking a deal with Oracle Corp. and Walmart Inc. to create TikTok Global. ByteDance will retain full control of its prized social media algorithms and allow Oracle only limited access to view source code for “safety” …read more […]
HSBC and Standard Chartered’s Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money. BuzzFeed and other media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCen). The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in …read more […]
Sep.20 — Opposition lawmakers in Hong Kong are being urged to resign en masse before the legislative council reconvenes next month. The call comes after China delayed the elections for a year. Bloomberg’s Brendan Scott reports on “Bloomberg Daybreak: Asia.” …read more […]
Tens of thousands of Hongkongers have been left struggling to make ends meet after the Covid-19 pandemic hit the city on the heels of months of anti-government protests. Among the hardest hit are members of ethnic minority communities, including many who were already struggling with lower than average pay before the crisis. Since losing her job in April 2020, Sangita has been struggling to make ends meet as she takes care of her family. …read more […]
China’s ByteDance said on Monday that TikTok’s global business will become its subsidiary, even as Oracle Corp and Walmart Inc said over the weekend that they and U.S. investors would own the majority of the video app following a deal with U.S. President Donald Trump’s administration. Trump signed an executive order on Aug. 14 giving ByteDance 90 days to sell TikTok, amid concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China’s Communist Party government. On Saturday, he said he supported a deal in principle that …read more […]
Oil prices fell on Monday on the potential return of oil output from Libya even as rising coronavirus cases add to worries about global demand, although losses were limited as a new tropical storm heads for the U.S. Gulf of Mexico. Brent crude was down 20 cents, or 0.5%, at $42.95 a barrel by 0039 GMT, while U.S. crude fell by 27 cents, or 0.7%, to $40.84 a barrel. Libya’s National Oil Corp (NOC) lifted force majeure on what it deemed secure oil ports and facilities on Saturday, but said the measure would remain in place …read more […]
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