Qualcomm’s longer term bet on the automotive sector as a lucrative customer base for its chips and related communications technology is getting a significant push today: the company announced that it is acquiring Autotalks, a fabless chipmaker out of Israel that builds semiconductor and system-on-a-chip technology to aid in automotive safety; sources tell us Qualcomm… Continue reading Qualcomm acquires Autotalks to boost Snapdragon’s automotive safety technology, reportedly for $350-400M
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HSBC reaches deal to buy out China fund management partnerThe transfer is subject to a public auction of the shares and regulatory review and approval…
HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement with Shanxi Trust under which the… Continue reading HSBC reaches deal to buy out China fund management partnerThe transfer is subject to a public auction of the shares and regulatory review and approval…
US asset manager Invesco trims Swiggy valuation by half
U.S.-based asset manager Invesco has marked down the valuation of Indian food delivery giant Swiggy’s in its holding to about $5.5 billion, down from $10.7 billion earlier.According to its filings with the US SEC, Invesco has valued Swiggy’s shares at $3,305 as of January 31, 2023, down from $4,759 in October 2022, TechCrunch reported.This comes… Continue reading US asset manager Invesco trims Swiggy valuation by half
PE giant KKR posts 26% drop in Q1 earnings amid fewer exits
KKR & Co Inc said on Monday its after-tax distributable earnings fell 26% year-on-year in the first quarter due to a sharp drop in asset sales from its private equity portfolio and lower transaction fees. KKR and other private equity firms cashed out on fewer investments during the quarter as inflation, higher interest rates, geopolitical tensions… Continue reading PE giant KKR posts 26% drop in Q1 earnings amid fewer exits
Nomura names Arnaud Lannic as Asia ex-Japan’s head of equity products
Japanese investment bank Nomura Holdings Inc has named Arnaud Lannic as Head of Equity Products for Asia ex-Japan, according to a memo seen by Reuters on Monday. Lannic, who is based in Hong Kong, will be responsible for all equity products activities, ranging from equity risk to convertible bonds, according to the memo. A Nomura… Continue reading Nomura names Arnaud Lannic as Asia ex-Japan’s head of equity products
How Google tried to fix the web — by taking it over
Google promised to create a better, faster web for media companies with a new standard called AMP. In the end, it ruined the trust publishers had in the internet giant. Share this story ]]> In 2015, Google hatched a plan to save the mobile web by effectively taking it over. And for a while, the… Continue reading How Google tried to fix the web — by taking it over
Berkshire Hathaway sells $59m worth of shares in Chinese EV maker BYD
Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.96 million Hong Kong-listed shares of electric vehicle maker BYD for HK$462.09 million ($58.9 million), a stock exchange filing showed. The sale on May 2 lowered Berkshire’s holdings in BYD’s issued H-shares to 9.87% from 10.05%, the filing to the Hong Kong stock exchange… Continue reading Berkshire Hathaway sells $59m worth of shares in Chinese EV maker BYD
S Korean e-grocery platform Kurly raises $91m from existing investors Aspex, Anchor
Kurly, the operator of South Korean e-grocery platform Market Kurly, has raised 120 billion won (about $91 million) from existing investors, four months after it abandoned its planned initial public offering (IPO). In its filings, the South Korean startup said it issued a total of 1.81 million shares to existing investors Anchor Equity Partners and… Continue reading S Korean e-grocery platform Kurly raises $91m from existing investors Aspex, Anchor
Chinese automaker BYD to manufacture EVs in Vietnam
Chinese automaker BYD Co. plans to expand into electric vehicles manufacturing and assembly in Vietnam, according to a Vietnamese government statement citing the company’s chair. Reuters in January exclusively reported that the Xian-based EV maker had plans to open a plant in Vietnam to produce car parts, with the aim to export components to an… Continue reading Chinese automaker BYD to manufacture EVs in Vietnam
Alibaba logistics arm eyes up to $2b in Hong Kong IPOCainiao is looking to raise between $1 billion and $2 billion in Hong Kong.
Alibaba’s logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub. Cainiao Network Technology’s initial public offering (IPO) plan comes after Alibaba flagged in late March it… Continue reading Alibaba logistics arm eyes up to $2b in Hong Kong IPOCainiao is looking to raise between $1 billion and $2 billion in Hong Kong.