Category: Business

NEW YORK – Global equity benchmarks slid and government bonds inched higher Tuesday as investors remained hesitant ahead of the first U.S. presidential debate and watched for progress in talks for further fiscal stimulus in Washington. With time running out to change minds or influence undecided voters, the stakes are high as the main two […]

HONG KONG – Goldman Sachs has appointed Iain Drayton to be the co-head of investment banking for Asia, ex Japan, according to a memo seen by Reuters. Drayton, who is based in Hong Kong, is the bank’s co-chief operating officer of investment banking in the region and the head of its financial and strategic investors […]

WASHINGTON – The U.S. House of Representatives Judiciary Committee’s antitrust subcommittee is expected to release a much-anticipated report into antitrust allegations against four of America’s largest tech companies as soon as Monday, according to a source with direct knowledge of the matter. The chief executives of four of the world’s largest tech companies, Amazon.com Inc, […]

A blank-check company that is one of only a small number of female-led special purpose acquisition companies is looking to raise $300 million in a U.S. initial public offering, the company said on Tuesday. The firm, Northern Star Acquisition Corp, led by Joanna Coles, a former Hearst Magazines editor and chief content officer, is looking […]

VANCOUVER – Lawyers for the Canadian government asked a judge on Tuesday to keep Huawei Chief Financial Officer Meng Wanzhou’s extradition case to the United States “on the straight and narrow” and described the evidence presented by the defence as inadmissible. Government lawyer Robert Frater asked the judge to throw out the defence’s arguments and […]

Micron Technology Inc has not yet obtained new licenses needed to sell its memory chips to China’s Huawei Technologies Co Ltd, which will cut its sales over the next two quarters, company executives said on Tuesday. Boise, Idaho-based Micron, one of the world’s biggest makers of DRAM chips, said it had previously obtained licenses from […]

HONG KONG – Chinese tech giant Alibaba’s cloud unit expects to be profitable within 2021, a senior executive said on Wednesday. Maggie Wu, chief financial officer of Alibaba, made the remarks at an livestreamed investor day event. The company, a dominant player in China’s cloud market, is fending off challenge from domestic rival Tencent which […]