Date
15 October 2018

Industries

  • CVS Health and Aetna said their combination would result in lower healthcare costs for consumers. Photo: Bloomberg

    CVS, Aetna win US approval for US$69 billion deal

    Oct 11, 2018 8:28am
    Pharmacy chain CVS Health Corp. won US antitrust approval for its US$69 billion acquisition of health insurer Aetna Inc., paving the way for a combination with potential to cut US healthcare costs for consumers, Reuters reports. The...
  • New devices for your living room: (clockwise, from left) Facebook's Portal, Google's Home Hub and Amazon's Echo Show. Photo: Reuters/AFP/Amazon

    Tech giants in three-cornered fight to conquer your home

    - Oct 10, 2018 1:01pm
    Facebook has launched a smart speaker that facilitates video calls at home, but it seems it has chosen the wrong time to bring such a product to the market. Following the Cambridge Analytica scandal early this...
  • Traders work on the floor of the New York Stock Exchange. Concerns surrounding rising interest rates again took center stage after US government debt yields hit highs not seen in more than seven years. Photo: Reuters

    The US Ten-Year shows the extent of the bond bubble

    - Oct 10, 2018 11:34am
    “Only when the tide goes out do you discover who’s been swimming naked.” – Warren Buffett  The US 10-year bond has reached, at the close of this article, a yield of 3.2 percent, the highest since...
  • HNA is under pressure to cut its huge debt and restructure after a US$50 billion acquisition spree in recent years. Photo: Bloomberg

    HNA lists property assets worth US$11 billion for sale

    Oct 10, 2018 9:58am
    Chinese conglomerate HNA Group has put up for sale property assets worth at least US$11 billion, according to documents seen by Reuters, accelerating a push to cut its large debt and restructure. Two sets of documents...
  • SoftBank's investment in WeWork could be between US$15 billion and US$20 billion, the Wall Street Journal reported. Photo: Bloomberg

    SoftBank in talks to take majority stake in WeWork: WSJ

    Oct 10, 2018 9:43am
    Japan’s SoftBank Group Corp. is in talks to take a majority stake in shared office space provider WeWork Cos, in what would be one of the largest deals of the past decade’s startup boom, the Wall...
  • Google Pixel 3 and Pixel 3 XL smartphones sit on display during a launch event in New York on Tuesday. Photo: Bloomberg

    Google unveils new Pixel phones, tablet

    Oct 10, 2018 9:41am
    Google on Tuesday unveiled two new Pixel smartphones, a Google Home smart speaker with a display, and its first-ever tablet computer, signaling the firm’s growing ambitions to compete with tech rivals such as Apple and Amazon...
  • Schoolchildren pass by a self-driving GM Bolt electric vehicle during a media event in San Francisco last year. Photo: Reuters

    Self-driving cars may hit US roads in pilot program

    Oct 10, 2018 9:30am
    Fully self-driving cars may be on the fast lane to US roads under a pilot program the Trump administration said it was considering, which would allow real-world road testing for a limited number of the vehicles,...
  • Tesla's Model 3 achieved the top rating, five stars, under the safety ratings program of the US National Highway Traffic Safety Administration, along with several other vehicles. Photo: Reuters

    US agency says Tesla safety claim goes beyond its analysis

    Oct 10, 2018 9:07am
    Tesla Inc. claimed its Model 3 electric car has the lowest risk of occupant injury of any vehicle in US government tests, but the National Highway Traffic Safety Administration said the claim goes beyond the scope...
  • Jia Yueting has managed to secure financial backing from some of China's top property tycoons despite a patchy track record. Photo: Reuters

    Leshi boss makes property tycoons rue their investment decisions

    - Oct 10, 2018 9:03am
    There must be something special about Chinese entrepreneur Jia Yueting that enables him to keep finding financial backers one after another despite his poor record and appalling credit. Jia founded Leshi Internet Information and Technology in...
  • Under the General Data Protection Regulation, EU regulators have the power to impose fines of up to 4 percent of global revenue or 20 million euros (US$23 million), whichever is higher, for violations. Photo: Reuters

    First round of fines under new EU privacy law seen by year-end

    Oct 10, 2018 8:45am
    European regulators are set to exercise their new powers by handing out fines and even temporary bans on companies that breach a new EU privacy law, with the first round of sanctions expected by the end...
  • An augmented reality-powered voice assistant service in Japan. There has been a shift from early-stage North American VR investment to later-stage Chinese computer vision/AR investment. Photo: Bloomberg

    Chinese investments in AR, computer vision technologies surge

    - Oct 9, 2018 4:09pm
    China-based funding for augmented reality (AR) and computer vision technologies hit US$3.9 billion over the last 12 months, surging ahead of similar investments in North America, according to Digi-Capital’s AR/VR/XR Analytics Platform, which tracks AR investments....
  • Tencent partnership is expected to help Nubank develop further in areas such as payments, consumer loans and machine learning. Photo: Nubank

    Tencent invests in Brazil fintech startup Nubank

    Oct 9, 2018 1:36pm
    Chinese internet giant Tencent (00700.HK) has acquired a minority stake in Nu Pagamentos SA, a Brazilian financial technology firm that offers virtual credit cards, in a deal worth US$180 million. The transaction marks Tencent’s debut in...
  • Google is shutting down the Google+ social platform after admitting to a security flaw that exposed users' personal information. Photo: Reuters

    Google+ social site to be shut down after user data exposed

    Oct 9, 2018 9:25am
    Google will shut down the consumer version of its failed social network Google+ and tighten its data sharing policies after announcing on Monday that private profile data of at least 500,000 users may have been exposed...
  • Aside from ride-hailing, Grab offers other services such as food and parcel deliveries, electronic money transfers, micro-loans and mobile payments. Photo: AFP

    Microsoft to invest in Southeast Asian ride-hailing firm Grab

    Oct 9, 2018 9:21am
    Microsoft Corp. is investing in Southeast Asian ride-hailing firm Grab as part of a partnership that the two companies said will allow them to collaborate on technology projects, including big data and artificial intelligence, Reuters reports....
  • The Portal smart speaker has a wide-angle camera that automatically keeps users in focus as they move about a room. Photo: Facebook via Reuters

    Facebook debuts smart speaker for Messenger video calls

    Oct 9, 2018 9:02am
    Facebook Inc. released a smart speaker designed to ease video calls, but the company’s history of privacy mishaps and the device’s price and limited functionality could slow it from taking on market leaders Amazon.com Inc. and...
  • Sky News reported that Lloyds Banking Group was to merge its 13 billion pound (US$17 billion) wealth management arm into a new joint venture with Schroders. Photo: Reuters

    Schroders, Lloyds in talks over wealth management alliance

    Oct 8, 2018 9:01am
    Asset manager Schroders Plc and Lloyds Banking Group said they are in discussions over a wealth management alliance, Reuters reports. The deal would be among the biggest wealth management tie-ups in recent years and would come...
  • Apple said it has repeatedly investigated and found no evidence for allegations in a Bloomberg report that, among other things, chips inside servers sold to Apple by Super Micro Computer Inc. allowed for backdoor transmissions to China. Photo:AFP

    Apple tells US Congress it found no signs of hacking attack

    Oct 8, 2018 8:49am
    Apple Inc.’s top security officer told the US Congress that it had found no sign of suspicious transmissions or other evidence that it had been penetrated in a sophisticated attack on its supply chain, Reuters reports....
  • The People's Bank of China said it will continue to take necessary measures to stabilize market expectations, while maintaining a prudent and neutral monetary policy. Photo: Bloomberg

    China slashes bank reserve requirements amid trade war

    Oct 8, 2018 7:13am
    China’s central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid an escalating trade dispute with the United...
  • The Faster Payment System (FPS) allows instant money  transfer or bill payment via a swipe of the QR code on the user's mobile phone. Photo: CNSA

    Faster payment system pushes HK towards cashless society

    - Oct 5, 2018 6:35pm
    The Hong Kong Monetary Authority (HKMA), the de facto central bank, has recently unveiled the Faster Payment System (FPS). The system, operated by Hong Kong Interbank Clearing Limited, allows instant money transfers and bill payments via the...
  • Ascletis Pharma chairman Jason Wu celebrates his firm's listing under the new rules of the Hong Kong Stock Exchange on Aug. 1. Photo: Bloomberg

    HK bourse poised to attract many more biotech companies

    - Oct 5, 2018 11:24am
    The Hong Kong Stock Exchange (HKEx) has recaptured its title as the world’s top market for initial public offerings.  After placing third behind Nasdaq and the Shanghai Stock Exchange last year, HKEx carried out its biggest...

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