China to end Ant Group’s regulatory revamp with fine of at least $1.1 billion, Reuters reports
The People’s Bank of China has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020.
China to ban food imports from Japan citing concerns over nuclear contaminated water
The ban was to prevent the export of radioactive contaminated Japanese food to China and protect the food safety of Chinese consumers’ imports.
Sri Lanka’s central bank says more rate cuts are needed for economy to ‘bounce back’
“We should need further reduction in interest rates on the basis of forward-looking inflation, forward-looking output gap,” the central bank’s governor Nandalal Weerasinghe said.
Samsung estimates profits plunged 96% in the second quarter
Companies are grappling with excess chip inventories as consumers buy fewer electronics due to inflation. As a result, prices for memory chips have fallen.
Zoom is ‘extremely optimistic’ about growth in Asia-Pacific despite weaker outlook
Zoom is “doubling down” on its technical investments in the Asia-Pacific region as it seeks to strengthen growth, said the video communications company.
Potential Taiwan conflict will hit these 3 countries the hardest, EIU report says
To be clear, the EIU assesses the risk of a direct Chinese military assault on Taiwan as “very unlikely.”
Japan’s base salaries jump most since 1995, puts Bank of Japan’s policy into view
Bank of Japan Governor Kazuo Ueda regards pay growth as a key gauge to consider in deliberations about a shift in policy.
A ‘nice’ workplace culture may be more toxic than you think, says this NYU professor
“There’s this false dichotomy of: If you’re critical, that means you are toxic … But nice isn’t always better. Sometimes nice is a cop out,” said Tessa West.
Morgan Stanley reveals 6 of its top China stocks, including a chipmaker it expects to soar 80%
Morgan Stanley has named a slew of Chinese stocks, including Alibaba and Baidu, it says are set to outperform, despite “uncertain market conditions.”
JPMorgan names ‘cheap’ global sectors set to outperform — here are some of its stock picks
JPMorgan picked stocks in the telecoms, utilities and energy sectors and said the U.K. is trading “extremely cheap.”
