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☆ Kendrick Lamar and Drake's beef explained, from its 2013 origins to their diss tracks "Push Ups" and "6:16 in LA" and latest responses
▼ + stars: | 2024-05-04 | by ( Ayomikun Adekaiyero | Eve Crosbie | ) www.businessinsider.com time to read: +26 min

Both rappers released diss tracks that took blistering personal shots on Friday night. "He doesn't have the heart for the lying, disrespect, and animosity it requires to make an effective diss track," Pierre wrote. Later in the track, Drake references Cole's diss track and apology. At the end of the track, Lamar samples a 1994 Tupac interview to simulate a conversation between the two rappers. "6:16 in LA" also parodies Drake's song titles, which often feature location names and timestamps.

Persons: Kendrick Lamar, Drake's, Drake, —, Lamar's fiancée Whitney Alford, Lamar, Aubrey Drake Graham —, Lamar dissed Drake, J, Cole, Rick Ross, Cole —, Taylor, Joseph Okpako, WireImage Lamar, Jermaine Cole, Big, Wale, Pusha, Meek Millz, Big Sean, Jay, Tyler, Mac Miller, Kunta, Lamar hasn't, Meek, Getty, Tim Mosenfelder, Aubrey, Muhammad Ali, Michael Jackson, Jackson, Prince, Mike Jack, Prince . Prince, “, rics, Organizations: Metro Boomin, Service, Future, Metro, HBO, Drake, Wireless, Lamar, Big, Rocky, Rap Locations: Drake's, Lamar, LA, Florida

☆ Kendrick Lamar spells out what he hates about Drake in new diss track, 'Euphoria.' Here's their beef explained.
▼ + stars: | 2024-04-08 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +19 min

Kendrick Lamar responded to Drake with a new diss track, "Euphoria," as their beef rages on. AdvertisementKendrick Lamar has taken aim at Drake for a second time with his new diss track, "Euphoria," amid the hip-hop heavyweights' feud. Advertisement"He doesn't have the heart for the lying, disrespect, and animosity it requires to make an effective diss track," Pierre wrote. A 'Drake' diss track appears online – but fans are wary it's AI-generated. Later in the track, Drake references Cole's diss track and apology.

Persons: Kendrick Lamar, Drake, Lamar, Taylor, —, Lamar dissed Drake, J, Cole, Rick Ross, Cole —, he's, Joseph Okpako, WireImage Lamar, Jermaine Cole, Big, Wale, Pusha, Meek Millz, Big Sean, Jay, Tyler, Mac Miller, Kunta, Lamar hasn't, Meek, Getty, Tim Mosenfelder, Aubrey, Muhammad Ali, Michael Jackson, Jackson, Prince, Mike Jack, Prince . Prince, “ Organizations: Metro Boomin, Service, Future, Metro, HBO, Wireless, Lamar, Big, Rocky, Rap Locations: Lamar, Canadian, Florida

☆ Nvidia plans to build a $200 million AI center in Indonesia amid push into Southeast Asia
▼ + stars: | 2024-04-05 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California, on Feb. 11, 2015. Nvidia is planning to build a $200 million artificial intelligence center in Indonesia in partnership with local telco giant Indosat Ooredoo Hutchison, as the U.S. tech darling continues its push into Southeast Asia. Indosat did not respond to a request for comment, while Nvidia declined to comment on the matter. Indosat Ooredoo Hutchison is Indonesia's second-largest mobile telco after a 2022 merger between Qatar's Ooredoo and Hong Kong's CK Hutchison. Nvidia's increased presence in Indonesia represents a broader push into Southeast Asia this year as data demand in the region booms on the back of the growing digital economy.

Persons: Ooredoo Hutchison, Budi Arie Setiadi, Indosat, Blackwell, Indosat Ooredoo Hutchison, Kong's CK Hutchison Organizations: Nvidia, Indonesia's, Information Technology, Qatar's, Kong's Locations: Santa Clara , California, Indonesia, U.S, Southeast Asia, Surakarta, Central Java, Nvidia's

☆ UK regulator refers Vodafone's merger with Three for in-depth competition probe
▼ + stars: | 2024-04-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The U.K. competition regulator on Thursday referred the proposed merger between Vodafone and CK Hutchison's Three mobile network to an in-depth investigation. The CMA has given itself a deadline of Sept. 18 to complete the in-depth probe, also known as a phase 2 investigation. The CMA has previously said the deal could lead to customers facing higher prices and reduced quality, a lessening of competition in the U.K. mobile market. Announced last year, Vodafone and CK Hutchison's transaction would merge the two brands' U.K. businesses, giving Vodafone a 51% controlling stake and leaving CK Hutchison with the minority interest. Vodafone and Three reiterated that "there will be no change to each operator's pricing strategy as a result of the merger."

Persons: Margherita Della Valle, CK Hutchison Organizations: Vodafone, CK, Markets Authority, CMA, Regulators, CK Hutchison Locations: London, British, United Kingdom

☆ 'Vanderpump Villa' isn't 'Vanderpump Rules' in the French countryside. Meet the cast and let them tell you why.
▼ + stars: | 2024-04-01 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +9 min

No, the new reality show "Vanderpump Villa" isn't just a remixed version of "Vanderpump Rules." "This is not Château Shitshow," a frustrated Vanderpump tells a pair of servers at the start of the second episode of her latest reality show, "Vanderpump Villa." AdvertisementUnlike in 'Pump Rules,' the villa staff must work together — and that raises the stakesLisa Vanderpump and the chateau staff in "Vanderpump Villa." 'Vanderpump Villa' is more like 'Below Deck'Lisa crowns Harlan, a villa guest, at her "Rebirth" party in episode three. The first three episodes of "Vanderpump Villa" are now streaming on Hulu, with new episodes released weekly.

Persons: isn't, —, Lisa Vanderpump, Joseph, Vanderpump, Hannah, Marciano Jax, Marciano, Gilles Mingasson, Jax Taylor, Hannah Fouch, Stassi Schroeder, Jax, Stassi's, Stassi, that's, We're, they'll, Hulu It's, Villa, Marciano —, Andre Mitchell, Mitchell, Grace Cottrell, Gabriella Sanon, Eric Funderwhite's flirtations, Caroline Byl, Emily Kovacs, Emily, Lisa, Harlan, Hulu Vanderpump, Kristen Doute Organizations: Service, Hulu, Hollywood resto, of Reality, Villa, Bravo Locations: Château Saint, Vanderpump's, Downton

☆ Australian rugby league player banned for eight matches after being found guilty of using racial slur towards Indigenous rival
▼ + stars: | 2024-03-11 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Sydney Roosters forward Spencer Leniu has been given an eight-match suspension after being found guilty of using a racial slur towards an Indigenous Australian rugby league player during a match. The National Rugby League (NRL) announced on Monday that a judiciary panel had found that Leniu had referred to Brisbane Broncos’ Ezra Mam as a “monkey” in a game in Las Vegas earlier this month. Leniu was charged with contrary conduct after the two teams faced off in the US and following a complaint from Mam. While giving evidence, Leniu said that he had wanted to travel to apologize to Mam – a Torres Strait Islander – in person, but the Broncos’ five-eighth rejected his approach. In no way did he mean to direct this term to Ezra in a racial way.

Persons: Spencer Leniu, Leniu, Ezra Mam, Mam, “, Ezra, ”, Mam –, ” Mam, David Becker, Joe Kelly, Spencer, “ Spencer, He’s, ” Kelly, CNN’s Ben Church Organizations: CNN — Sydney Roosters, Indigenous Australian rugby, National Rugby League, Brisbane Broncos, Broncos, Nine News, Roosters, Aboriginal, CNN Locations: Las Vegas, Torres

☆ Here are Friday's biggest analyst calls: Nvidia, Nike, Tesla, Coinbase, Arm, Meta, Eli Lilly, UPS, Carvana & more
▼ + stars: | 2024-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Meta as buy Bank of America said it's bullish on Meta adding the Broadcom CEO to its board of directors. Bank of America reiterates Nvidia as buy Bank of America said it's standing by the stock heading into earnings next week but that a pullback is possible. Baird upgrades UPS to outperform from neutral Baird said in its upgrade of UPS that the risk/reward is too attractive to ignore. Bank of America downgrades Dropbox to underperform from buy Bank of America said the "bull thesis has played out" for the data storage company. Bank of America upgrades Cellebrite to buy from neutral Bank of America said it sees business trends stabilizing for the digital intelligence company.

Persons: it's, Hock Tan, NVDA, Goldman Sachs, Goldman, TD Cowen, Grosvenor, KBW, TTD, Baird, Wells, Tommy Hilfiger, Tommy, Raymond James downgrades Carvana, Raymond James, Wayfair, Oppenheimer, Morgan Stanley, Tesla, Guggenheim, SunPower, Jefferies, Eli Lilly, Roku Organizations: Bank of America, Meta, Broadcom, " Bank of America, Nvidia, Informatica, BMO, Trade, Google, U.S, UPS, JPMorgan, Daiwa, CY2025, UBS, Newell Brands, RBC, Nike, of America, Barclays, Netflix, JPMorgan downgrades Bloom Energy, BE, Pharma Locations: CY24, CY2024, Wayfair, U.S

☆ If you want to age in place in retirement, experts say these are the things you should consider
▼ + stars: | 2024-02-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

Westend61 | Westend61 | Getty ImagesThere's no place like home — especially as you age. "People might say, 'I want to age in place as the default plan, because that's what I'm already doing,'" said Carol Chiang, CEO of Evolving Homes, a company providing personalized consulting for individuals and families who want to age in place. The costs of the upgrades necessary to age in place can vary, experts say. Chiang said she has seen the prices of bathroom upgrades vary within Florida, where her practice is based. To make sure your home upgrades are successful, experts say it's wise to keep several things in mind.

Persons: I'm, Carol Chiang, Chiang, Carolyn McClanahan, Curt Kiriu, Kiriu, there's, Thomas West Organizations: Westend61, Getty, AARP, Finance, Social Security, CNBC's FA, CK, Builders, National Association of Home Builders, Signature Estate, Investment Advisors Locations: CNBC's, Florida, Mililani, Hawaii, Oahu, Tysons Corner , Virginia

☆ UK opens antitrust probe into Vodafone merger with CK Hutchison's Three mobile network
▼ + stars: | 2024-01-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

A pedestrian walks past a Vodafone store in central London on May 16, 2023. British mobile giant Vodafone is to axe 11,000 jobs over three years in the latest cull to hit the tech sector, as new boss Margherita Della Valle slammed recent performance. Britain's competition watchdog on Friday said it is opening an investigation into the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison . The initial probe will look at whether the deal will lead to a "substantial lessening of competition," according to the U.K. Competition and Markets Authority (CMA). "The CMA will assess how this tie-up between rival networks could impact competition before deciding next steps."

Persons: Margherita Della Valle, CK Hutchison, Sarah Cardell Organizations: Vodafone, CK, U.K, Competition, Markets Authority, CMA Locations: London, British

☆ Meet Brother Spirit, the Buddhist monk who doesn't believe in competition and is behind one of the great partnerships in Silicon Valley
▼ + stars: | 2023-11-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

Brother Spirit is a monk in the French monastic community of Plum Village. Brother Spirit played a role in connecting Salesforce CEO Marc Benioff with Humane's founders. Brother Spirit said competition is not the best way to drive innovation. Brother Spirit did not respond to Insider's request for a comment, so it's unclear exactly when he befriended Benioff. Brother Spirit, who also goes by Brother Pháp Linh, appears to be active on social media.

Persons: Brother Spirit, Marc Benioff, Imran Chaudhri, Bethany Bongiorno, Benioff, Times ., Spirit, He's, Barack Obama, Tim Cook, Fleetwood Mac, —, Brother Pháp Linh, CK Lin, Lin Organizations: Brother, Humane's, Service, Apple, Google, The New York Times, Times, Salesforce, Cambridge University Locations: Plum, Salesforce, Bordeaux, France, San Francisco

☆ A court artist covering Trump's trial had the perfect response to a Fox commentator calling her work a 'travesty'
▼ + stars: | 2023-11-07 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Kayleigh McEnany poked fun at a courtroom sketch of Trump on "The Five" on Monday. The artist, Elizabeth Williams, said that "dumping on court artists" is becoming more and more common. AdvertisementAdvertisementA courtroom sketch artist has responded to a Fox News commentator who called her drawings of Donald Trump a "travesty." Although other artists' work had been shown in the segment, an image by courtroom sketch artist Elizabeth Williams was displayed on screen at the time. AdvertisementAdvertisementWilliams has been a courtroom artist for decades, and recapped her coverage of Trump going back to the 1980s.

Persons: Kayleigh, Trump, Elizabeth Williams, Williams, —, Donald Trump, Kayleigh McEnany, Letitia James, Dana Perino chimed, Greg Gutfeld, Louis CK, Trump's, Colin Jost, YouTube Jost, Donald Trump Jr, Judge Arthur Engoron, Laura Italiano Organizations: Service, Fox, White House Press, Fox News, New York, Trump, USFL, NFL, SNL, YouTube, Team Trump Locations: Miami

☆ The 5 most memorable moments from the Sam Bankman-Fried trial
▼ + stars: | 2023-11-03 | by ( Jordan Valinsky | Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Sam Bankman-Fried was found guilty Thursday following a monthlong trial that was almost as wild as the rapid rise and fall of cryptocurrency exchange FTX itself. He was found guilty of stealing billions of dollars from accounts belonging to customers of FTX. During the trial, Bankman-Fried took the unusual – and risky – decision to testify in his own defense. “I was kind of busy and lazy and didn’t bother getting a haircut for long periods of time,” Bankman-Fried said. “No offense to the Kansas City Royals, but we didn’t want to be known as the Kansas City Royals of crypto exchanges,” SBF testified.

Persons: Sam Bankman, Fried, Bernie Madoff’s, Caroline Ellison, SBF’s, Mark Cohen, ” Cohen, “, ”, Cohen, SBF, Ellison, ” SBF, Lewis Kaplan, Kaplan interjected, Bankman, Danielle Sassoon, …, Sassoon, ’ Organizations: New, New York CNN, Alameda Research, Miami Heat, American Airlines, FTX, New Orleans Saints, Kansas City Chiefs, Kansas City Royals, Kaseya, PR, Alameda Locations: New York, FTX, Bahamas, United States, Kansas City, Bankman, China, Alameda

☆ Takeaways from Sam Bankman-Fried’s second day in front of a jury
▼ + stars: | 2023-10-30 | by ( Lucy Bayly | Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Prosecutors grilled former crypto king Sam Bankman-Fried on Monday as his criminal fraud trial entered its third week. The pace of withdrawals then increased further, with about $4 billion in net withdrawals the following day, or 100 times more than a typical day. A market downturn meant that assets associated with FTX’s sister company, the hedge fund Alameda Research, “declined massively in value,” he said. Ellison agreed Alameda should have been hedgedBankman-Fried on Monday recalled a conversation he had with Caroline Ellison, his ex-girlfriend and then-CEO of Alameda Research. “Do you recall saying FTX and Alameda acted separately?” Sassoon asked.

Persons: Sam Bankman, Bernie Madoff, ”, Fried, Judge Lewis Kaplan, Bankman, FTX, “, SBF, Ellison, Caroline Ellison, Danielle Sassoon, ” Sassoon, “ I’m, Sassoon, ” SBF, What’s Organizations: New, New York CNN, Prosecutors, Alameda Research, “, PR Locations: New York, Alameda, Alameda . Alameda

☆ UK mobile operator EE eyes growth with new retail platform
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 18 (Reuters) - EE, Britain's biggest mobile operator, on Wednesday announced the launch of a sales platform called EE ID that will offer gaming consoles and other electronics to its customers and others. In Britain's mature mobile market, where EE, owned by UK telecoms giant BT (BT.L), competes with VM O2, Vodafone (VOD.L) and Three, mobile network providers are hunting for new ways to grow. EE, which is already Britain's largest retailer of smartphones and has 25 million customers many on monthly deals, said the new platform will sell gaming consoles, tablets, upgrade packages and subscriptions to existing EE customers plus the rest of the market. EE ID will also offer customers cyber security, home security and insurance products for electronics, said Christian Thrane, EE's managing director of marketing. EE's push to add consumer revenue comes at a time of proposed consolidation in Britain's mobile market.

Persons: Marc Allera, Christian Thrane, CK Hutchison, Sarah Young, Sachin Ravikumar Organizations: Wednesday, BT, VM O2, Vodafone, Apple TV, Reuters, CK, HK, Thomson

☆ Vodafone, Three execs tell lawmakers their UK merger will benefit 5G, jobs
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Branding is displayed for Vodafone at one of its stores in London, Britain, June 14, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Executives from Vodafone (VOD.L) and CK Hutchison's (0001.HK) Three UK unit said their 15 billion pound ($18 billion) merger would benefit Britain's consumers, infrastructure and jobs, as lawmakers scrutinise the planned tie-up. Vodafone and Three UK have pledged to invest 11 billion pounds to build a 5G network for Britain as part of their bid to secure backing from politicians, unions and competition authorities for the merger announced in June. They warned that without the deal, Britain's 5G network would continue to lag that of other European nations. "Neither us nor Vodafone can invest sufficiently to build the type of 5G network that's needed," Three's Chief Technical Officer David Hennessy said.

Persons: Toby Melville, CK Hutchison's, Nicki Lyons, David Hennessy, Stephen Lerner, Sarah Young, Mark Potter Organizations: Vodafone, REUTERS, HK, Trade, VM O2, Telefonica, Liberty Global, Thomson Locations: London, Britain

The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. The plaintiffs said Morgan Stanley convinced them to invest about $281 million, but hid details of a Brightline preferred share transaction that should have required the loan be prepaid at a "make-whole" amount they estimated at $750 million. Morgan Stanley was also accused of having swapped out one document with the signature of a Certares affiliate, to make it seem like the affiliate had read and agreed to the preferred share transaction. In a statement, Morgan Stanley said "the firm does not believe the claims have merit and will defend itself vigorously." The case is CK Opportunities Fund I LP et al v Morgan Stanley Senior Funding Inc et al, New York State Supreme Court, New York County.

Persons: Morgan Stanley, Andrew Kelly, Morgan, Brightline, Tatiana Bautzer, Jonathan Stempel, Rosalba O'Brien Organizations: New York Stock Exchange, REUTERS, Certares Management, Knighthead Capital Management, Brightline Holdings, Fortress Investment Group, Las, New York, Court, Thomson Locations: Manhattan , New York City, U.S, New York, Manhattan, Florida, Los Angeles, Las Vegas, Brightline, New, Court , New York County

TORONTO (AP) — Louis C.K. Now, a new documentary premiering in Toronto, where C.K.’s downfall began, is delving into one of most debated #MeToo cases. “In the early years, the advice I was given was: Don’t make this movie,” says Suh, who directed the Barack Obama-narrated docuseries “Working: What We Do All Day.”Suh, herself, was a big fan of Louis C.K. In his 2020 self-distributed special “Sincerely Louis C.K,” he began by asking the crowd about their last few years. “It feels like every time there’s a news event, it’s like: ‘#MeToo is failing’ or ‘#MeToo is succeeding,’” says Lingo.

Persons: — Louis C.K, ”, Caroline Suh, Cara Mones, ’, Suh, Barack Obama, ” Suh, Louis C.K, didn’t, Harvey Weinstein, Bill Cosby, “, Abby Schachner, Kathleen Lingo, Jen Kirkman, Megan Koester, Michael Schur, Noam Dworman, it’s, isn’t, ‘ Woo, It’s, MeToo, ’ ”, “ It’s, We’re, Jake Coyle Organizations: TORONTO, Toronto, Film, New York Times, Times, Greenwich Entertainment, C.K, Twitter Locations: Toronto, Madison, C.K, “ Parks

☆ Samsonite’s baggage is heavy with geopolitics
▼ + stars: | 2023-09-12 | by ( Thomas Shum | ) www.reuters.com time to read: +4 min

Of the restless group, luggage maker Samsonite International (1910.HK) has the least financial reason to mull a move. The $5 billion U.S. and Luxembourg-based company was one of the first Western companies to list in Hong Kong. Sales from Asia - Samsonite’s most profitable region – accounted for almost 40% of the total in the first half of 2023. Reuters Graphics Reuters GraphicsFrom a liquidity point of view too, Samsonite has had a better experience in Hong Kong than other international arrivals. That’s better than other international consumer brands that boast similar levels of prestige.

Persons: Andrew Kelly, Tim Parker, Samsonite, Kyle Gendreau, CK Hutchison, It’s, Calvin Klein, Prada, ” Gendreau, Una Galani, Katrina Hamlin Organizations: Woodbury, REUTERS, Reuters, Global, Samsonite, HK, Reuters Graphics Reuters, Prada, Swire Pacific, CK, Bloomberg, Thomson Locations: Central Valley , New York, U.S, HONG KONG, Hong Kong, mull, Luxembourg, Asia, New York, Washington, Beijing, China

Shivon Zilis was pictured alongside Elon Musk and their twins for the first time on Wednesday. Insider first reported that Musk quietly fathered twins with Zilis, a director at Neuralink, in 2021. AdvertisementAdvertisementGrimes, whose legal name is Claire Boucher, said on X that communication about Zilis' twins "wasn't handled super well." Last week, in a since-deleted post on X Grimes accused Zilis of blocking her on social media. The Neuralink director has also taken to posting about her children in recent months.

Persons: Shivon Zilis, Elon Musk, Musk, Zilis, Elon Musk's, Walter Isaacson, —, Isaacson, Musk wasn't, Justine, Grimes, He's, he's, Tesla, Justin Sullivan, Ray Kurzweil, I've, Sam Altman, OpenAI's, Jonathan Raa, Neuralink, Lorena Gonzalez Fletcher, ck Elon Musk, Gonzalez, Austin Zilis, Claire Boucher, wasn't, Musk's, X Grimes, Tau, ftw Organizations: Service, Yale University, Yale, IBM, Bloomberg Beta, Forbes, Canadian, Conference, Neuralink, Getty, Food and Drug Administration, California, Twitter, SpaceX Locations: Zilis, Wall, Silicon, Austin, Ontario, Canada, Markham , Ontario, California, Texas, Boca Chica, South Texas

☆ Hong Kong property stocks surge as China takes action to revive property sector
▼ + stars: | 2023-09-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Residential buildings stand at the Metro Town development, jointly developed by CK Asset Property Holdings Ltd., Nan Fung International Holding Ltd. and MTR Corp., in Hong Kong, China, on Thursday, Jan. 11, 2018. Hong Kong-listed property stocks surged on Monday, leading gains on the Hang Seng Index and powering the benchmark to be the top gainer in Asia. Shares of real estate companies like Evergrande , Logan Group and Longfor Group spiked over 9% on Monday, with Country Garden Holdings leading gains at 14.61% up. The Hang Seng Mainland Property Index was up 9.09%. Country Garden is still scheduled to pay $22 million in coupon payments on two U.S. dollar bonds it missed in early August.

Persons: Nan Organizations: Metro Town, CK Asset Property Holdings Ltd, Nan Fung International Holding Ltd, MTR Corp, Index, Logan Group, Longfor, Country Garden Holdings, Mainland, Garden, Reuters, Bloomberg, Malaysian Locations: Hong Kong, China, Asia

☆ Shelved port deal will test Temasek’s private push
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, July 13 (Reuters Breakingviews) - Temasek is having a bad weather week. The Singaporean investor’s wholly owned port operator PSA International is shelving plans to sell its 20% stake in CK Hutchison’s (0001.HK) port business, per Bloomberg. PSA was seeking $4 billion for its stake, a touch less than what it paid. This week, Temasek itself reported a 5.2% drop in the net value of its portfolio to $285 billion in the 12 months to the end of March, as public markets remain weak. The world’s 10th-largest sovereign investor has 53% of its portfolio parked in unlisted assets, double the level a decade ago.

Persons: CK Hutchison’s, Li Ka, China's Cosco, Breakingviews, Daga, Una Galani, Thomas Shum Organizations: Reuters, Temasek, CK, Bloomberg, Twitter, Thomson Locations: SINGAPORE, HK, Hong Kong, Singapore, China

☆ Central bankers lay out digital currency cyber threat
▼ + stars: | 2023-07-07 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, July 7 (Reuters) - The central bankers' central bank, the Bank for International Settlements (BIS), has laid out a seven-point plan designed to help countries prevent cyber hacks on the new wave of digital national currencies under development. The BIS acts as an umbrella body for the U.S. Federal Reserve, European Central Bank, Bank of England and other central banks around the world and has been co-ordinating a lot of work on CBDC development. Hackers have struck a number of central banks in recent years from Denmark to Bangladesh. Specifically, it calls on central banks to:• Recognise the complexity and new threat landscape brought by CBDC systems. It also called for central banks to use the global "MITRE ATT&CK" database of past cyber attacks, and for an "official extension" of the MITRE ATT&CK framework to help central banks beef up their security measures.

Persons: MITRE, Marc Jones, Susan Fenton Organizations: Bank for International Settlements, BIS, U.S . Federal Reserve, European Central Bank, Bank of England, Polaris, Thomson Locations: Denmark, Bangladesh

☆ China-bashing throws Vodafone a curveball
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 27 (Reuters Breakingviews) - Vodafone's (VOD.L) M&A ambitions in Britain are falling prey to anti-China rhetoric. Parliamentarians are also fretting over the security impact on contracts with government departments once the deal goes through. Vodafone may face similar scrutiny, leading to inevitable delays. The fact that CK Hutchison has retained the right to appoint the chief financial officer may be a red flag. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: CK Hutchison's, Li Ka, Franco, Patrick Drahi, Hakan Koc, Pyrros Koussios, Roman Abramovich, CK Hutchison, Pamela Barbaglia, Aston Martin, Lisa Jucca, Streisand Neto Organizations: Reuters, HK, Vodafone, BT, UK's National Security and Investment Act, Twitter, Siemens, Thomson Locations: Britain, China, Hong Kong, Canada

☆ 8 money habits that are preventing you from growing your wealth, according to an ex-banker
▼ + stars: | 2023-06-22 | by ( Tim Denning | ) www.businessinsider.com time to read: +10 min

Ex-banker and personal-finance writer Tim Denning says a poor money mindset is what keeps you stuck. You also need to act on investments instead of waiting for the right time and seek out tax savings. I got this poor money mindset from the 2008 recession. "Don't pay in full. When you don't pay, they charge predatory fees and make you poorer.

Persons: Tim Denning, —, Katie, Austin Rief, Austin, Katie Gatti, I've, Cash, Lehman Brothers, you'll, Gordon Ramsay, It's, it's, There's Organizations: Service, Facebook, Morning, doesn't, Navy SEAL, Google, Microsoft, CNBC Locations: Australian

☆ Vodafone and Three merger faces scrutiny from competition regulators
▼ + stars: | 2023-06-15 | by ( Paul Sandle | ) www.reuters.com time to read: +5 min

The $19 billion tie-up will be scrutinised by Britain's Competition and Markets Authority, the antitrust regulator which made global headlines in April when it blocked Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard. The long-awaited mobile deal reduces the number of networks from four to three, challenging a tenet long held by regulators that four help to keep prices low in major markets. "The government's desire to make the UK a 5G powerhouse requires a lot of investment," he said. One London-based investment banker, who declined to be named, said he put the chance of the deal receiving the green light from regulators at 50%. A major telecoms investor said the deal could be approved, but only with strong remedies, and that could risk undermining its rationale.

Persons: CK Hutchison, Activision Blizzard, Hutchison, Paolo Pescatore, Peter Broadhurst, Moring, James Gray, Sarah Cardell, Robert Finnegan, Gray, Paul Sandle, Amy, Jo Crowley, Sinead Cruise, Kate Holton, Emelia Organizations: Microsoft, Activision, Hutchison, O2, Vodafone, CK, HK, Britain's Competition, Markets Authority, Ofcom, European Commission, Foresight, Hutchison's, UK plc, Victoria, Crowell, CMA, Reuters, National Security and Investment, Britain's, Tesco Mobile, Telefonica, Thomson Locations: Hong Kong, Britain, Europe, China, London, Germany

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