AMSTERDAM (Reuters) – Taiwanese chipmaker TSMC is planning to start construction of its European facility in the fourth quarter of 2024, it said on Tuesday. At a conference in the Netherlands, TSMC’s head of European operations Paul de Bot said work on the facility was on track. TSMC in August committed 3.5 billion euros ($3.8 …
TSMC says work on European plant on track to start in fourth quarter Read More »
By Josh Ye and Priyanka G (Reuters) -China’s Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, helped by strong growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. Tencent Music’s shares rose over 8% in morning trade in New York after the company said the number of its paying …
Tencent Music beats Q1 revenue estimates on strong rise in paid subscriptions Read More »
By Asif Shahzad ISLAMABAD (Reuters) – An International Monetary Fund (IMF) mission has opened discussions with Islamabad on a new loan programme, a Pakistan finance ministry statement said on Monday. The mission chief, Nathan Porter, met Pakistan’s Finance Minister Muhammad Aurangzeb to “kick-start the discussions on further engagement with the fund.” Aurangzeb informed the team …
IMF, Islamabad open talks for a new loan, says Pakistan finance ministry Read More »
By Ryan Woo, Ju-min Park and Hyonhee Shin BEIJING/SEOUL (Reuters) -China and South Korea should seek stable ties despite their recent “difficulties”, Chinese Foreign Minister Wang Yi told his South Korean counterpart on Monday at a rare meeting in Beijing held amid tensions over Taiwan and other regional issues. South Korea’s Foreign Minister Cho Tae-yul …
China calls for stable ties with South Korea despite ‘difficulties’ Read More »
By Kane Wu and Julie Zhu HONG KONG (Reuters) -Hong Kong-listed real estate fund manager ESR Group, currently valued at $5.4 billion, halted trading in its shares on Monday, saying that a group of investors has proposed to take it private. It said its backer, U.S. private equity firm Warburg Pincus LLC, and ESR’s founders …
ESR says it has investor group’s proposal to take it private Read More »
(Reuters) -Super Hi International, which operates Chinese hotpot restaurant chain Haidilao outside China, said on Monday it was targeting a valuation of $1.38 billion in its initial public offering in the United States. The company, which has shares listed in Hong Kong, is pursuing a dual listing in New York as it seeks to broaden …
Haidilao restaurant operator Super Hi targets $1.38 billion valuation in US IPO Read More »
(Reuters) – U.S. insurance and home inspection software provider Porch Group is suing China Construction Bank Corp (CCB), the country’s third-biggest lender by assets, for allegedly enabling a “massive fraud” that caused “monumental losses” for Porch. Porch and its units accused the Chinese lender of conspiring with employees of the now bankrupt Israeli insurance firm …
Porch sues China Construction Bank in US over reinsurance fraud losses Read More »
By Anton Bridge TOKYO (Reuters) – Japanese technology investor Softbank Group believes it has an advantage over smaller rivals because it can leverage its entire $183.6 billion portfolio to help it build an ecosystem of firms that can employ artificial intelligence, a top executive said on Monday. “Because of the size of our platform, we’re …
SoftBank’s $184 billion portfolio key to beating AI rivals, says Vision Fund CFO Read More »
By Anton Bridge TOKYO (Reuters) -Technology investor SoftBank Group swung to a net profit in the final quarter of its financial year, it said on Monday, as the Japanese giant focuses on artificial intelligence to help fuel a return to growth. SoftBank booked a profit of 328.9 billion yen ($2.11 billion) in January-March, compared to …
Japan’s SoftBank swings to quarterly profit, eyes on Arm unit Read More »
By Yoruk Bahceli (Reuters) – If financial markets are right, interest rates won’t just stay high this year, but possibly forever. The return of inflation means ultra-low rates are history. And markets now reflect a scenario where even the neutral interest rate that balances the economy in the long run after factoring in inflation, dubbed …
