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☆ Apple deletes WhatsApp, Threads from China app store on orders from Beijing
▼ + stars: | 2024-04-19 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Apple has removed WhatAapp and Threads from its app store in China, following an order from the country’s internet watchdog which cited national security concerns. “The Cyberspace Administration of China ordered the removal of these apps from the China storefront based on their national security concerns. Other popular Western social media apps including X (formerly Twitter), Facebook, Instagram and Messenger are still available on Apple’s China app store, according to a check by CNN. Chinese consumers who once would have considered Apple are now turning to the country’s national brands. Its CEO Tim Cook visited Shanghai just last month to open the second biggest Apple store in the world.

Persons: Hong Kong CNN —, Duncan Clark, ”, VPNs, Tim Cook, — Hassan Tayir Organizations: Hong Kong CNN, Hong Kong CNN — Apple, Apple, CNN, Administration of China, Meta, BDA China, Facebook, IDC, Huawei Locations: China, Hong Kong, Beijing, United States, Shanghai

Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Cloud competition from HuaweiAlibaba has been an industry leader in the cloud business. Alibaba in November blamed U.S. restrictions on chip sales to China for the decision to pull the cloud IPO. Alibaba said its cloud business revenue grew by just 2% year on year in the quarter ended Sept. 30. Those resellers were other companies that had acted as distributors or agents for Alibaba cloud and received commissions.

Persons: Brendan McDermid, It's, Alibaba, hasn't, they're, Duncan Clark, Clark, ”, Jack Ma, Brian Wong, Eddie Wu, Trudy Dai, Daniel Zhang, Yi Zhang, —, Alibaba's, Canalys, BDA's Clark Organizations: Alibaba Group Holding, New York Stock, Reuters, BDA, Alibaba Group, Alibaba, Duncan Clark BDA, Huawei Alibaba, Huawei, Tencent, “ Global Locations: Reuters BEIJING, U.S, China, Beijing, Alibaba

☆ Ukraine's air force has gotten good at fighting on the run, and Russia's military can't catch up, top US general says
▼ + stars: | 2023-09-15 | by ( Christopher Woody | ) www.businessinsider.com time to read: +7 min

Ukraine's air force has been able to keep operating by spreading out its jets among different bases. Russia has struggled to catch up to that dispersal, the top US Air Force general in Europe says. That success underscores the US Air Force's need to be able to distribute its jets and crews. Russia began the war with a larger and more advanced air force, including better radars and longer-range missiles. US Air Force crew chiefs perform a "communications out" launch of an F-16 during an exercise in Lithuania in August.

Persons: James Hecker, they've, Hecker, Danil, " Hecker, OLEKSII FILIPPOV, Justin Bronk, Bronk, Dara Massicot, Massicot, Stephanie Longoria Organizations: US Air Force, Service, US Air Forces, Air and Space Forces Association, Washington DC, Getty, Britain's Royal United Services Institute, Ukraine, Carnegie Endowment, International, Russian BDA, Air Force, Tech Locations: Russia, Europe, Wall, Silicon, Washington, Ukraine, Kyiv, Russian, Lviv, AFP, Moscow, Lithuania, Latvia, Finland

☆ Russian jamming may have hamstrung a US-made bomb kit being used in Ukraine, leaked documents say
▼ + stars: | 2023-04-11 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Leaked Pentagon documents highlighted concerns about the Joint Direct Attack Munition weapon. The American-made bomb kit used by Ukraine may have been hamstrung by Russian jammers. One document in particular highlights concerns about US-made bomb kits which have been sent to Ukraine in recent months. One factor is the bomb fuses aren't arming at their release, which Ukraine's air force has worked to fix. Photo by Metin Aktas/Anadolu Agency via Getty ImagesThe Pentagon documents first became public last week and circulated through social media platforms like Discord, Twitter, and Telegram.

Both are owned by Beijing-based parent company ByteDance, but Douyin launched before TikTok and became a viral sensation in China. Like TikTok, it’s a short-form video app. Then in 2017, the privately-owned tech company bought a US-based video startup and released TikTok as the overseas version of Douyin. The download page for the TikTok app displayed on an Apple iPhone. Besides TikTok, there’s also shopping app Temu, fast fashion retailer Shein and video editing app CapCut, which is also owned by ByteDance.

HONG KONG, March 17 (Reuters) - Chinese private equity firm DCP Capital aims to sell its Singaporean portfolio firm MFS Technology, which makes flexible printed circuit boards, for at least $550 million, two people with knowledge of the matter told Reuters. The sale is targeting primarily financial sponsors, but also strategic buyers, according to the two sources and a separate person with knowledge of the transaction. BDA Partners and Jefferies are advising DCP on the sale, the sources said. The Chinese firm bought a controlling stake in MFS in 2018 from Navis Capital Partners and Novo Tellus Capital Partners for an undisclosed amount. Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; Additional reporting by Julie Zhu in Hong Kong; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

SYDNEY/SINGAPORE, Jan 26 (Reuters) - China's reopened borders and renewed focus on boosting the sagging economy have brightened the deals outlook, with bankers starting to field interest for mergers, acquisitions and fundraising involving the world's second-largest economy. Chinese companies' capital markets deals slipped 44% in the same period, according to Refinitiv data. That slump crimped the fees earned by Wall Street banks and forced some of them to cut jobs, mainly those linked to Chinese deals, in the past few months. Chinese private equity activity was worth $24.1 billion in 2022, down from $57.8 billion a year before, Pitchbook data showed. "Because of opening up, we expect an uptick in overseas disposal of private equity to Chinese buyers."

☆ Bank of America double downgrades Charles Schwab, says clients will continue to shift to money market funds
▼ + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to move away interest rate sensitive brokers such as Charles Schwab , according to Bank of America. Analyst Craig Siegenthaler double downgraded shares to underperform from buy, and lowered his price target, saying client cash sorting will continue to remain elevated in the first half of this year. Client cash sorting refers to clients moving cash out of lower-yielding bank deposits into higher-yielding alternatives such as money market funds. Charles Schwab outperformed last year, gaining 0.1%, and is "arguably the biggest beneficiary of higher interest rates across diversified financials," the analyst said. Regardless, the analyst expects Charles Schwab's revenue and profit growth will decelerate this year due to a constricting balance sheet.

☆ Here are Thursday's biggest analyst calls: Netflix, Meta, Apple, Tesla, Charles Schwab, Roblox, Amazon & more
▼ + stars: | 2023-01-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America downgrades Charles Schwab to underperform from buy Bank of America said in its double downgrade of Schwab that the Fed will stop hiking this summer, "removing a powerful near-term profit driver." Wells Fargo names Meta, Amazon and Alphabet top 2023 picks Wells says Meta, Amazon and Alphabet have "solid fundamentals" and should outperform in 2023. Deutsche Bank reiterates Tesla as buy Deutsche said the automaker could be a top performer in 2023. JPMorgan names Meta a top pick into earnings JPMorgan said Meta is well positioned into earnings next week. Bank of America reiterates Disney as buy Bank of America said the return of Bob Iger has been a boost to investor sentiment and that selling ESPN is not a slam dunk.

☆ Chinese billionaire Jack Ma to relinquish control of Ant Group
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Jan 7 (Reuters) - Ant Group's founder Jack Ma will no longer control the Chinese fintech giant after the firm's shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights, the group said on Saturday. This trend will continue the erosion of the most productive parts of the Chinese economy. DUNCAN CLARK, CHAIRMAN OF INVESTMENT ADVISORY FIRM BDA, BEIJING:"Yes, it's obviously significant if he is no longer the controlling shareholder. This in theory should pave the way for an IPO assuming the other key issue - oversight/ownership of data - is also resolved. At least Ant investors can (now) have some timetable for an exit after a long period of uncertainty."

☆ Ant Group founder Jack Ma to give up control in key revamp
▼ + stars: | 2023-01-07 | by ( ) www.cnbc.com time to read: +3 min

Alibaba founder Jack Ma attends the 5th World Zhejiang Entrepreneurs Convention at Hangzhou International Expo Centre on November 13, 2019 in Hangzhou, Zhejiang Province of China. Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. China's domestic A-share market requires companies to wait three years after a change in control to list. Hangzhou Yunbo, an investment vehicle for Ma, had control over two other entities that own a combined 50.5% stake of Ant, the prospectus showed. "At least Ant investors can (now) have some timetable for an exit after a long period of uncertainty," said Clark, who is also an author of a book on Alibaba and Ma.

☆ Shares of Charles Schwab could rise 20% as interest rates peak, Goldman Sachs says in upgrade
▼ + stars: | 2023-01-04 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

This could be a strong year for Charles Schwab , according to Goldman Sachs. The analyst also has a price target of $98 per share, implying upside of roughly 20% from Tuesday's close. "We think that most of the macro-driven earnings upside from higher rates is already in the run-rate, but select upside opportunities still exist," Blostein wrote in a Wednesday note. Charles Schwab has "under-appreciated earnings and capital return opportunities" through 2024 that will boost the stock, according to the analyst. "SCHW is likely to see the most growth in cash revenues (NII + BDA fees) in 2024 vs. 4Q22 levels at an estimated +26%," the analyst wrote.

Celebrul antreprenor chinez a apărut în public ultima oară la un forum organizat la Shanghai, la finele lunii octombrie, ocazie cu care a criticat sistemul de reglementare din China, într-un discurs care l-a pus în opoziţie cu oficialii chinezi. Rezultatul a fost suspendarea procedurii de listare publică iniţială a Ant Group, una dintre diviziile Alibaba, operaţiune evaluată la 37 de miliarde de dolari. Cotidianul Financial Times susţine că Jack Ma a fost înlocuit de altcineva în poziţia de jurat pentru episodul final al unui show de televiziune pentru antreprenori denumit Africa's Business Heroes. În replică, un purtător de cuvânt de la Alibaba a spus luni că înlocuirea lui Jack Ma a fost determinată de programul încărcat al antreprenorului, dar nu a oferit detalii. Este vorba de o situaţie destul de unică, care are legătură cu mărimea Ant Group şi sensibilităţile ce ţin de reglementarea financiară”, a apreciat Duncan Clark, preşedintele firmei de consultanţă BDA China.

Persons: Jack Ma, Duncan Clark Organizations: Ant Group, Times, Heroes, Alibaba, consultanţă, JD.com, Pinduoduo, Alibaba Group Holding Ltd Locations: Shanghai, China, China continentală

☆ Dispariția misterioasă a celui mai bogat om din China ridică semne de întrebare: Unde a fost văzut miliardarul ultima oară
▼ + stars: | 2021-01-04 | by ( ) www.jurnal.md time to read: +2 min

Persons: Jack Ma, Duncan Clark Organizations: Ant Group, Times, Heroes, Alibaba, Agerpres, consultanţă, JD.com, Pinduoduo, Alibaba Group Holding Ltd Locations: Shanghai, China, China continentală

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