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☆ Jim Cramer says Apple’s new Vision Pro headset just went from ‘boutique to upside surprise’
▼ + stars: | 2024-02-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

The future for Apple's Vision Pro looks promising despite Wall Street's muted enthusiasm. Wall Street doesn't expect the Vision Pro to drive a ton of revenue at first though. Bank of America estimates the Vision Pro could add 46 cents per share to earnings-per-share (EPS) within the next five years. "We tested the Vision Pro and walked away positively from the overall extremely unique and immersive experience," BofA analysts wrote in a Monday research note. While it'll take time, the Vision Pro has the potential to boost sales and earnings in the future.

Persons: Jim Cramer, Todd Haselton, Morgan Stanley, Apple's, It's, Jim, Haselton, Chi Kuo, preorders, Kuo, Apple, Jim Cramer's, Tim Cook, Brendan McDermid Organizations: Apple's, UBS, Bank of America, Vision, Apple, Pro, Hollywood, Apple Watch, International Securities, Vision Pro, CNBC Locations: U.S, Manhattan, New York City

☆ It looks like YouTube is planning to build a Vision Pro app down the line: 'It's on our roadmap'
▼ + stars: | 2024-02-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

YouTube seemingly wants to create an app on Apple's Vision Pro. On Monday, the company suggested to The Verge that a Vision Pro app was also on the cards. AdvertisementYouTube has said an app for Apple's Vision Pro is "on our roadmap." We do not have any specific plans to share at this time, but can confirm that a Vision Pro app is on our roadmap." AdvertisementWhile preorders for the Vision Pro reportedly exceeded analysts' estimates, some have expressed concerns about the headset's hefty price tag and niche audience.

Persons: —, Jessica Gibby, Gibby, TF International Securities analyst Ming, Chi Kuo Organizations: YouTube, Service, Vision, Business, Netflix, Spotify, Bloomberg, Vision Pro, TF International Securities analyst, Apple's Vision Pro

☆ Microsoft's full set of Office apps will be available on Apple's Vision Pro — including the company's new AI assistant, Copilot
▼ + stars: | 2024-02-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Microsoft is bringing a full suite of Office apps to Apple's Vision Pro. AdvertisementMicrosoft is bringing a full suite of Office apps to Apple's Vision Pro. The tech giant said programs including Microsoft Word, Excel, and PowerPoint would be available on Apple's new tech on its launch day. In a blog post, the company also said its new everyday AI companion, Copilot, would be available for users. Microsoft, however, is making all its productivity apps, including its workplace platform Teams, available for Apple users.

Persons: —, Preorders, TF International Securities analyst Ming, Chi Kuo Organizations: Microsoft, Vision, Service, Apple, Apple Vision, TF International Securities analyst, Netflix

☆ Apple iPhone shipments may see 'significant decline' in 2024, analyst says
▼ + stars: | 2024-01-30 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook holds a new iPhone 15 Pro during the Wonderlust project launch event at the company's headquarters in Cupertino, California, Sept. 12, 2023. Kuo wrote that Apple's weekly shipments in China have dropped by 30% to 40% from a year earlier in recent weeks, "and this downward trend is expected to continue." "Apple may have the most significant decline among the major global mobile phone brands in 2024," Kuo wrote. Samsung has upped shipments of its new Galaxy S24 series this year by 5% to 10% as it sees "higher-than-expected" demand thanks to its AI-powered features, Kuo wrote. Apple, meanwhile, has lowered its shipment forecast for the iPhone 15 in the first half of 2024, he added.

Persons: Tim Cook, Ming, Chi Kuo, Kuo, Huawei's, Apple didn't Organizations: Apple, International Securities, Samsung Locations: Cupertino , California, China

☆ Apple has already sold more than 200,000 Vision Pro headsets, report says
▼ + stars: | 2024-01-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Apple has already sold around 200,000 Vision Pro headsets, MacRumors reported. Apple's Vision Pro officially launches in the US on February 2. AdvertisementApple has sold around 200,000 Vision Pro headsets since preorders opened, MacRumors reported, citing a source familiar with the company's sales numbers. The Vision Pro is Apple's first new product category since it announced the Apple Watch in 2014. AdvertisementApple is set to embark on its biggest hardware launch in a decade with the Vision Pro.

Persons: —, MacRumors, Min, Chi Kuo, Kuo Organizations: Apple, Vision Pro, Service, TF International Securities, Business, Apple Watch

☆ Vision Pro demand 'may quickly taper off' after diehard Apple fans order it, analyst predicts
▼ + stars: | 2024-01-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Read previewApple fans scooped up enough Vision Pro headsets to push back delivery times for new orders, but one analyst isn't so sure the initial hype will last. The Apple Vision Pro headset became available for preorder on Friday, and shipping times quickly extended from early February to March. Ming-Chi Kuo, an analyst at TF International Securities who specializes in Apple's supply chain, estimated Apple sold between 160,000 and 180,000 units during the Vision Pro's preorder weekend. "It indicates that demand may quickly taper off after the core fans and heavy users place their orders," Kuo wrote. AdvertisementKuo said the Vision Pro is "still a very niche product."

Persons: —, isn't, Chi Kuo, Kuo, isn't snowballing, Apple Organizations: Service, Business, Apple, preorder, TF International Securities, Meta, Vision Pro

☆ Initial demand for Apple’s Vision Pro headset could wane, top analyst cautions
▼ + stars: | 2024-01-22 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Apple 's Vision Pro quickly sold out after preorders for it opened Friday, but early signs could mean demand is waning, according to top Apple analyst Ming-Chi Kuo of TF International Securities. He estimated that Apple sold 160,000 to 180,000 Vision Pro units over the weekend. "Popular iPhone models also sell out immediately upon pre-order, and shipping times typically increase to several weeks within hours," Kuo wrote. Kuo wrote in his blog that it "should not be challenging" for Apple to ship 500,000 Vision Pro units in total this year. "Right now, Vision Pro is still a very niche product," Kuo wrote.

Persons: Ming, Chi Kuo, preorders, Kuo, Morgan Stanley Organizations: Apple, International Securities . Shipping, Vision, Vision Pro, Pro

☆ Foxconn's electric car unit falls in market debut amid tough industry outlook
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

A view of a Foxtron logo on a electric vehicle on display during the company's annual Tech Day in Taipei, Taiwan, October 18, 2022. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 20 (Reuters) - Shares in Foxtron Vehicle Technologies (2258.TW), a unit of Taiwanese contract manufacturer Foxconn (2317.TW), fell in their market debut on Monday, hurt by concerns over headwinds in the highly competitive electric vehicle market. Foxtron shares did recover some ground from earlier losses of as much as 9%, ending down 2.7% which gave it a market capitalisation of around $2.7 billion. Foxtron is a joint venture between Foxconn - the world's largest contract manufacturer for iPhones and other consumer electronics - and local car maker Yulon (2201.TW). Young Liu, chairman of both Foxtron and Foxconn, said, however, the company has a clear strategy for growth.

Persons: Ann Wang, Foxtron, Yulon . Young Liu, Liu, Foxconn, Terry Gou, Ben Blanchard, Faith Hung, Anne Marie Roantree, Navaratnam, Edwina Gibbs Organizations: Tech Day, REUTERS, Rights, Vehicle Technologies, Mega International Securities, Yulon, Thomson Locations: Taipei, Taiwan, Rights TAIPEI, Foxconn, North America, Southeast Asia, China

☆ Nomura reassesses mainland China business plan as losses mount
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

The logo of Nomura Securities is seen at the company's Head Office in Tokyo, Japan, November 28, 2016. Nomura's majority-owned joint venture has struggled to grow since its launch in 2019, dragged down by the pandemic and a slowing economy. In 2022, the joint venture lost 225 million yuan ($30.75 million), after losing 84 million yuan in 2021, according to Nomura's filings. Nomura's China joint venture headcount has dropped to 259 from 281 in July, far short of the original target of increasing it to 500 by this year. The joint venture is 51% owned by Nomura, 24.9% by Orient International Holding, and 24.1% by Shanghai Huangpu Investment Holding Group.

Persons: Toru Hanai, Nomura, headcount, Goldman Sachs, Makiko Yamazaki, Selena Li, Sonali Paul Organizations: Nomura Securities, REUTERS, Rights, Nomura Holdings, Bloomberg, Reuters, Citigroup, Nomura Orient International Securities, Nomura, Orient International Holding, Shanghai Huangpu Investment Holding Group, Thomson Locations: Tokyo, Japan, China, Shanghai, Hong Kong, Asia

☆ China bans Nomura senior investment banker from leaving mainland -sources
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

The logo of Nomura Securities is pictured at the company's Otemachi Head Office in Tokyo, Japan, November 18, 2016. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Asked why the Nomura banker was barred from leaving, Chinese foreign ministry spokesperson Wang Wenbin said he did not have knowledge of the situation at a regular news briefing on Monday. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Toru Hanai, Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong, Selena Li, Kane Wu, Makiko Yamazaki, Liz Lee, Sumeet Chatterjee, Clarence Fernandez Organizations: Nomura Securities, REUTERS, Authorities, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, HK, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities, Thomson Locations: Tokyo, Japan, HONG KONG, China, Hong Kong, Beijing, Shanghai

☆ China bans Nomura senior investment banker from leaving mainland — sources
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

Signage for Nomura Holdings Inc. displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Monday, April 24, 2023. Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong Organizations: Nomura Holdings Inc, Nomura Securities Co, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities Locations: Tokyo, Japan, China, Hong Kong, Beijing, Shanghai

☆ Nomura is merely first in line for new China risk
▼ + stars: | 2023-09-25 | by ( Una Galani | ) www.reuters.com time to read: +4 min

After all, Nomura is a minnow in China, ranking 82nd in investment banking in the country by net revenue in 2021, data from Dealogic shows. Like most of its more successful global investment banking peers, Nomura has an eye on deepening its business in China. It acquired a license for a majority-owned securities joint venture, Nomura Orient International Securities, in 2019. Follow @ugalani on TwitterCONTEXT NEWSAuthorities in China have barred Charles Wang Zhonghe, China investment banking chair at Nomura, from leaving the mainland, Reuters reported on Sept. 25 citing two sources with knowledge of the matter. Beijing’s investigation into Cong, former president of China Renaissance Holdings, resulted in the investment bank’s founder Bao being taken away by Chinese authorities in February.

Persons: Charles Wang Zhonghe, Nomura, Goldman Sachs, Morgan Stanley, Wang, Bao Fan, hasn’t, Xi Jinping, Banks, Cong Lin, Bao, Cong, Nomura’s Wang, Antony Currie, Oliver Taslic Organizations: Reuters, Financial Times, UBS, HK, China Securities, Nomura, Commercial Bank of China, China, Apple, Nomura Orient International Securities, Authorities, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Thomson Locations: MUMBAI, China, Hong Kong, It’s, Singapore, People’s Republic

Apple CEO Tim Cook speaks during Apple's Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023. Apple is holding its annual iPhone launch event Tuesday at Apple Park, its headquarters in Cupertino, California. The company is expected to announce new iPhone models, as well as new Apple Watches and AirPods, according to reports from Bloomberg News, Wall Street analysts and TF International Securities hardware analyst Ming-Chi Kuo. Last year, the launch event duration was about an hour and a half. We'll post live updates below, and you can also watch the Apple event YouTube live stream right here.

Persons: Tim Cook, Ming, Chi Kuo, Here's what's Organizations: Apple, Apple's Worldwide, Bloomberg News, Wall Street, TF International Securities, CNBC Locations: Cupertino , California

The Mate 60 is priced from 5,999 yuan ($817.70), the same as Apple's iPhone 14 in China. Huawei's launch also comes days before Apple is expected to launch its new iPhone 15 on Sept. 12.WHO ARE THE MATE 60'S SUPPLIERS? The Mate 60 Pro contains more Chinese-made chip components than previous models, TechInsights also said. WHAT COULD IT MEAN FOR APPLE IN CHINA'S SMARTPHONE MARKET? And cumulative shipments of Mate 60 Pro could reach at least 12 million units 12 months after launch, according to Kuo.

Persons: TechInsights, Chi Kuo, Kuo, Yelin Mo, Brenda Goh, Emelia Sithole Organizations: China's Huawei Technologies, Apple, Huawei, Semiconductor Manufacturing International Corp, HK, WHO, South Korea's SK Hynix's, SK Hynix, Dongguan Chitwing Technology, ., Visionox Technology, Reuters, TF International Securities, Thomson Locations: BEIJING, SHANGHAI, China, Kirin, SMIC, South, United States, Dongguan, Suzhou, U.S, Washington, Beijing

Some analysts feel the Huawei moves could be a first step in comeback efforts by China's "national champion" to rival Apple. By contrast with the hit for Apple suppliers, Huawei's extended recent gains. Reuters GraphicsSCOPE OF CURBS UNCLEARIt was not immediately clear how wide China's iPhone curbs are, but one employee at an affected state-owned enterprise (SOEs) in the capital said they extended to visitors. However, Canalys analyst Nicole Peng said Huawei could present a greater threat to domestic peers, such as Honor, which had benefited from Huawei's woes. The U.S. Commerce Department is seeking more information on the "character and composition" of the new Huawei chip that may violate trade curbs, it said on Thursday.

Persons: Ann Wang, chipmaker TSMC, China's, Ivan Lam, Ming, Chi Kuo, Nicole Peng, TechInsights, Jeanny Kao, David Kirton, Jason Xue, Yelin Mo, Ellen Zhang, Sam Nussey, Miyoung Kim, Clarence Fernandez Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Huawei, Apple, Largan, Industry, Semiconductor Manufacturing International Corp, Reuters, Bank of America, TF International Securities, Street, Washington, U.S . Commerce Department, Shanghai Newsroom, Thomson Locations: Hsinchu, Taiwan, Rights SHANGHAI, TAIPEI, U.S, Beijing, Taipei, TW, iPhones, China, Shenzhen, Shanghai, Tokyo

☆ Apple's iPhone 15 event kicks off on Tuesday. Here's what to expect
▼ + stars: | 2023-09-08 | by ( Kif Leswing | ) www.cnbc.com time to read: +7 min

Last year, Apple announced new iPhones, Apple Watches, and updated AirPods at its September event. Here's what to expect from this year's edition:iPhone 15: USB-C and titaniumApple's invite to its Sept. 12 event. This year, the biggest change is expected to be a USB-C charging port, replacing Apple's proprietary Lightning port, which was introduced in 2012 as the iPhone charger "for the next decade." A USB-C charging port on iPhones will match the same charging port on Android phones, newer laptops, iPads, wireless headphones, and other gadgets. The change is being spurred by new European regulations which require a common charging port.

Persons: Tim Cook, Carlos Barria, Ming, Chi Kuo, Greg Joswiak, Apple's, Jakub Porzyck, Sofia Pitt, Apple, AirPods, Todd Haselton Organizations: Reuters Apple, Apple, YouTube, Apple's, Huawei, Vision, CNBC, Apple Apple, Bloomberg News, TF International Securities, Wall Street, Union, Nurphoto, Getty, Bloomberg, U.S, Apple Watch, Sofia Pitt Last Locations: Cupertino , California, iPhones

☆ Apple to host fall event on Sept 12, analysts expect new iPhones
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman Acquire Licensing RightsAug 29 (Reuters) - Apple (AAPL.O) said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches. The event will be hosted at the Steve Jobs Theater at its headquarters in Cupertino, California, according to invites from the world's most valuable company. Apple posted a 2.4% decline in iPhone sales for its fiscal third quarter - a rare drop for the product that has for years powered the company's growth. Reporting by Chavi Mehta in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman Acquire, Steve Jobs, TF International Securities analyst Ming, Chi Kuo, Chavi Mehta, Sriraj Organizations: Apple, REUTERS, Steve, Wall Street, TF International Securities analyst, Bloomberg, Thomson Locations: Brussels, Belgium, Cupertino , California, Bengaluru

☆ Tesla to hit record quarterly sales in China even as market share shrinks - analysts
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, June 28 (Reuters) - Tesla (TSLA.O) is set to hit another record quarter with its China sales while it faces mounting pressure from local competitors such as BYD eating into its share in the world's largest auto market, analysts say. Deutsche Bank predicted Tesla's China sales to hit 153,000 units in the second quarter, while globally it could sell 448,000 units in total. Tesla will announce global sales numbers over the weekend, while China sales will be available from association data in the first week of July. It has outsold Tesla in Singapore in the first five months while its Atto 3 outsold Tesla's Model 3 in Australia in May. As its Shanghai plant achieves an annual production capacity of over 1 million units, Tesla is selling into new markets in the region including Thailand and Malaysia with China-made cars.

Persons: Shi Ji, Shi, Tesla, Yale Zhang, BYD, Zhang Yan, Brenda Goh, Lincoln Organizations: U.S, China Merchants Bank International Securities, Guangzhou Automobile Group, Deutsche Bank, Automotive Foresight, EV, HK, Thomson Locations: SHANGHAI, China, Shanghai, North America, Singapore, Australia, Thailand, Malaysia

☆ Nasdaq to sell debt worth $5 bln to fund Adenza deal
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - Nasdaq (NDAQ.O) said on Thursday it aims to sell debt worth $5.07 billion to fund its purchase of Thoma Bravo-owned software company Adenza. The $10.5 billion deal, announced earlier this month to help transform the exchange operator into a financial technology company, comprises $5.75 billion in cash and 85.6 million shares of Nasdaq common stock. Nasdaq is looking to sell senior notes worth $4.25 billion and 750 million euros ($821.33 million), according to a statement. Nasdaq and many of its peers have been morphing into financial technology firms, largely through deals, as regulatory and nationalist pushback effectively killed big cross-border exchange mergers, and as trading volumes fell after the 2008-2009 financial crisis, stunting transaction-based revenue. ($1 = 0.9132 euros)Reporting by Juby Babu in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma, pushback, Juby Babu, Sherry Jacob, Phillips Organizations: Nasdaq, Thoma Bravo, OMX, International Securities Exchange, Thomson Locations: New York, U.S, Bengaluru

Adenza was created in 2021 when Thoma Bravo merged Calypso Technologies with AxiomSL and is expected to generate about $590 million in revenue this year. As part of the Adenza deal, Thoma Bravo will get a 14.9% stake in Nasdaq, making the private equity firm one of the company's biggest shareholders. Nasdaq said buying Adenza is expected to increase the medium-term organic revenue growth outlook for its Solutions Businesses, which designs and develops financial software for investors, from 7%-10% to 8%-11%. Goldman Sachs & Co and J.P. Morgan Securities are financial advisers to Nasdaq, while Qatalyst Partners is lead financial advisor to Thoma Bravo and Adenza. Wachtell, Lipton, Rosen & Katz is serving as legal adviser to Nasdaq, while Kirkland & Ellis is serving as legal adviser to Thoma Bravo and Adenza.

Persons: Thoma, Adena Friedman, Morningstar, Michael Miller, Friedman, Adenza, Andrew Bond, Holden Spaht, Thoma Bravo's Spaht, Goldman Sachs, Wachtell, Lipton, Katz, Ellis, Manya Saini, Anirban Sen, John McCrank, David French, Milana, Michelle Price, Sruthi Shankar, Nivedita Bhattacharjee, Nick Zieminski, Lisa Shumaker Organizations: Thoma Bravo, Nasdaq Nasdaq, Nasdaq, Calypso Technologies, REUTERS, OMX, International Securities Exchange, Rosenblatt Securities, Solutions, Goldman Sachs & Co, Morgan Securities, Qatalyst, Rosen, Kirkland, Adenza, Thomson Locations: New York City, U.S, Adenza, Bengaluru, New York, Washington

☆ Analysis: Struggling China local governments find a fundraising loophole, lifeline in "pearl bonds"
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, May 31 (Reuters) - China's cash-strapped local governments have suddenly rushed to an unusual corner of the debt market in Shanghai where ambiguous rules offer ways to skirt restrictions on onshore borrowing. LGFVs accounted for about two-thirds of the issuers and 60% of the debt sold this year nation-wide, according to Reuters' calculations. Among all the newly-issued FTZ bonds this year, 55, or two-thirds of all 82 issuers, were LGFVs, according to Reuters' calculations. The "pearl" or free trade zone (FTZ) bonds have been around since 2016 but are only now becoming popular as tighter central government supervision on LGFV debts starts to bite. AMBIGUOUS POSITIONING"Pearl bonds" differ from other offshore bonds as trades are cleared by the state-owned China Central Depository & Clearing Co, rather than a global clearing house.

Persons: Shi Xiaoshan, Fitch, Royston Quek, Tim Fang, Pearl, Zhang Hong, Georgina Lee, Tom Westbrook, Kim Coghill Organizations: U.S, Haitong International Securities, China Central Depository, Industrial, Group, Credit Agricole CIB, Shanghai Pudong Development Bank, Bank of Communications, Pudong New, Financial, Reform Commission, Reuters, The, Administration of Foreign Exchange, Shanghai, Thomson Locations: SHANGHAI, HONG KONG, Shanghai, Beijing, U.S . Federal, Hong Kong, China, Zhejiang, Pudong, SINGAPORE

Companies Genesis Global Capital, Llc FollowMay 4 (Reuters) - Bankrupt crypto exchange FTX received U.S. bankruptcy court permission on Thursday to sell its LedgerX business for $50 million, raising additional funds to repay creditors. Miami International Holdings owns the Bermuda Stock Exchange and several U.S.-registered securities exchanges, including the Miami International Securities Exchange. FTX said in a court filing that Genesis owes it that money as a result of transactions that took place shortly before FTX's bankruptcy filing. Genesis, unlike other creditors, was largely repaid before FTX went bankrupt, FTX said. FTX, a once-prominent crypto exchange, filed for Chapter 11 amid allegations that founder Sam Bankman-Fried used FTX customers' money to prop up Alameda's balance sheet.

☆ Bankrupt crypto firm FTX to sell LedgerX for $50 million
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

April 25 (Reuters) - FTX has reached an agreement to sell its crypto derivatives platform LedgerX LLC to an affiliate of Miami International Holdings Inc for $50 million, the bankrupt crypto exchange said on Tuesday. Since filing for bankruptcy in November, FTX has recovered over $7.3 billion in cash and liquid crypto assets, the company reported earlier this month. It continues to sell assets as part of that effort, recently agreeing to sell its stake in Web3 startup Mysten Labs for $95 million. The buyer, Miami International Holdings, owns the Bermuda Stock Exchange and several U.S.-registered securities exchanges, including the Miami International Securities Exchange. FTX may consider restarting or selling its crypto exchange as part of that process.

☆ Cirrus Logic slumps as analyst says Apple to abandon button design change
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Shares of Apple Inc (AAPL.O) supplier Cirrus Logic Inc (CRUS.O) tumbled about 12% after a renowned analyst said the iPhone maker will abandon the solid-state button design for premium variants of its iPhone 15 series of smartphones. Amid speculation Apple would use a button format that remains static, TF International Securities analyst Ming-Chi Kuo, known for his accurate predictions related to Apple's product launches, said in a blog post the company decided to abandon the design shift. "Investors had anticipated that the new solid-state button design would increase suppliers' revenues and profits," Kuo said. Shares of integrated circuit maker Cirrus Logic have hit their lowest in over two months and are set for their worst day in about two years. Cirrus Logic declined to comment.

☆ Apple Needs to Take Its Time With Augmented Reality
▼ + stars: | 2023-01-12 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Much like the Apple Watch touted by CEO Tim Cook in the past, Apple’s AR device might be shown off months ahead of its retail launch. Apple ‘s real world will likely be a harsh one this year. That doesn’t mean the company should rush into a virtual one. Apple’s long-rumored augmented reality headset may finally see the light of day soon. Bloomberg News also reported over the weekend that the company is planning to unveil the product this spring.

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