ASIA

HSBC considers windfall dividend from $10 billion sale of Canadian unit to RBC

Deal comes under pressure from Chinese shareholders Analysts hail ‘sense’ deal The bank could return the proceeds of the transaction to the shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its Canadian business to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion). dollars) in cash, thus paving the …

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Crypto lender BlockFi files for bankruptcy, cites exposure to FTX

Filing follows weeks after FTX collapse FTX listed as BlockFi’s #2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the dramatic collapse of the FTX exchange …

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Morocco vs Belgium: Big World Cup upsets as Atlas Lions shock Red Devils and Costa Rica defeats Japan

CNN — It was a day of big upsets at the World Cup as Belgium and Japan both succumbed to shock defeats against Morocco and Costa Rica respectively. Morocco won its first World Cup match since 1998 – and its third ever – securing a sensational 2-0 victory over heavyweight Belgium to ensure that it …

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US bans sales of Huawei and ZTE gear amid Chinese spying fears

The Biden administration has banned the approval of new telecommunications equipment by Chinese companies Huawei Technologies and ZTE because they pose “unacceptable risk” to US national security. The U.S. Federal Communications Commission announced on Friday that it has adopted the final rules, which also prohibit the sale or import of equipment made by Chinese surveillance …

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Apple has a huge problem with its supplier’s iPhone factory in China

hong kong CNN Business — A violent uprising by workers at the world’s largest iPhone factory in central China this week further clouds Apple’s strained supply chain and highlights how the country’s tough zero Covid policy is harming to global technology companies. The unrest began last month when workers left the factory campus in Zhengzhou, …

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The Nexperia and Elmos cases show how the US-China chip war is spreading to Europe

hong kong CNN Business — Two European chip deals have run into trouble over their ties to China, a sign of concern spreading in the West about China’s potential control over critical infrastructure. Last week the new owner of Britain’s biggest chipmaker was ordered to reverse its takeover, just days after another chip factory sale …

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Consumer inflation in Japanese capital rises at fastest pace in 40 years

Tokyo Nov core CPI up 3.6% vs. f’cast +3.5% Tokyo CPI stays above BOJ’s 2% target for 6th consecutive month Data point to widening inflationary pressures TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of national trends, rose at their fastest annual rate in 40 years in November and …

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Foxconn protests: iPhone factory offers to pay employees to quit and leave Zhengzhou campus

hong kong CNN Business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to resign and leave the world’s largest iPhone assembly plant, in a bid to quell protests that have seen hundreds of clashes with security forces in central China compound. The Apple supplier made the offer on Wednesday following dramatic …

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FTC likely to file lawsuit to block Microsoft bid for Activision -Politico

Nov 23 (Reuters) – The U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft Corp’s (MSFT.O) $69 billion takeover bid for video game publisher Activision Blizzard Inc (ATVI.O), Politico reported on Wednesday, citing people familiar with the matter. A lawsuit challenging the deal is not guaranteed, and the FTC’s …

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