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Didi was delisted from New York a year later amid Beijing's crackdown on Chinese technology giants over antitrust and data security rules. Shein has confidentially submitted its IPO registration with the U.S. Securities and Exchange Commission (SEC), the sources said. The stock market debut could come before the end of 2023, the sources added. Spokespeople for Shein and the SEC did not immediately respond to requests for comment. Reporting by Kane Wu and Julie Zhu in Hong Kong; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Persons: Didi, Shein, Kane Wu, Julie Zhu, Chizu Organizations: New, U.S . Securities, Exchange Commission, SEC, Shein, Thomson Locations: New York, United States, Hong Kong
[1/2] A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. China's long-awaited rules for offshore stock exchange listings form part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. REGULATORY 'BLACKBOX'The new listing regime requires CSRC to respond within 20 working days upon accepting an issuer's listing filing. Submitting additional materials can be time-consuming and thus delay the listing process, said bankers and lawyers. Reporting by Scott Murdoch in Sydney and Kane Wu in Hong Kong; Additional reporting by Selena Li in Hong Kong; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: Tingshu Wang, JD.com, Scott Murdoch, Kane Wu, Selena Li, Sumeet Chatterjee, Muralikumar Organizations: China Securities Regulatory Commission, REUTERS, China, U.S, iMotion Automotive Technology, Reuters, Thomson Locations: China, Beijing, Hong Kong, SYDNEY, HONG KONG, Suzhou, Sydney
Exclusive: China's Shein files for U.S. IPO
  + stars: | 2023-06-29 | by ( Kane Wu Julie Zhu | Kane Wu | Julie Zhu | ) www.reuters.com   time to read: +3 min
[1/3] A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. Shein has confidentially submitted its IPO registration with the U.S. Securities and Exchange Commission (SEC), the sources said. In pressing on with its IPO plans, Shein is braving heightened tensions between the United States and China over trade, sensitive technology, human rights and the future of Taiwan. The United States bans exports from Xinjiang for this reason. U.S. lawmakers are also seeking to restrict the "de minimis" tariff exemption widely used by e-commerce retailers such as Shein to send orders from China to the United States.
Persons: Chen Lin, Didi, Shein, Chris Xu, Kane Wu, Julie Zhu, Chizu Nomiyama, Nick Zieminski Organizations: REUTERS, New, U.S . Securities, Exchange Commission, SEC, General Atlantic, Tiger Global, Sequoia Capital, Thomson Locations: Singapore, New York, United States, China, Taiwan, China's Xinjiang, Xinjiang, Sequoia Capital China, U.S, Ukraine, Nanjing, China's, Jiangsu, Hong Kong
[1/3] Jun 28, 2023; Nashville, Tennessee, USA; Connor Bedard puts on a Chicago Blackhawks jersey after being taken with the first pick in the 2023 NHL Draft at Bridgestone Arena. Mandatory Credit: Christopher Hanewinckel-USA TODAY SportsJune 28 (Reuters) - The Chicago Blackhawks selected Connor Bedard with the first pick of the NHL Draft on Wednesday in hopes the young centre can help bring the storied franchise back into contention for a Stanley Cup. "It's hard to put into words," Bedard said about being drafted by the six-time champions. Bedard's first game as a professional will be Oct. 10 when the Blackhawks face Sidney Crosby and the Penguins in Pittsburgh. The Anaheim Ducks surprised some, including Leo Carlsson, when they used the second pick to draft the big Swedish centre.
Persons: Connor Bedard, Christopher Hanewinckel, " Bedard, Sidney Crosby, Bedard, Patrick Kane, Connor McDavid, Western Hockey League's Regina, Kane, Leo Carlsson, " Carlsson, University of Michigan's Adam Fantilli, Will Smith, David Reinbacher, Rory Carroll, Frank Pingue, Muralikumar Anantharaman, Chris Reese Organizations: Chicago Blackhawks, Bridgestone Arena, The Chicago Blackhawks, NHL, Stanley, Blackhawks, Penguins, Chicago, Western Hockey League's, Western Hockey League's Regina Pats, WHL, Anaheim Ducks, University of Michigan's, Columbus Blue Jackets, San Jose Sharks, Montreal Canadiens, Thomson Locations: Nashville , Tennessee, USA, Pittsburgh, American, Nashville, Los Angeles, Toronto
HONG KONG, June 27 (Reuters) - China's new offshore listing rules for domestic companies have left bankers and lawyers who work on listings unsure how to take on liabilities and avoid breaching tightened confidentiality rules, Asia's largest financial lobby group said on Tuesday. China's long-awaited rules for offshore stock exchange listings came into effect on March 31 as part of a regulatory tightening on cross-border listings after years of a laissez-faire approach. Chao said the concept of such papers is vaguely defined, and also gave rise to disputes among investment banks and law firms over which side was primarily responsible for storing the documents. It's not good for Chinese companies who need to seek capital from the world," Chao said. The slowing Chinese economy, dimming offshore fundraising prospects, and heightened geopolitical tensions have prompted Wall Street and European banks to layoff investment bankers working on China deals in the last few months.
Persons: China's, Lyndon Chao, ASIFMA, Chao, Goldman Sachs, It's, Hong, Wall, Selena Li, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Susan Fenton, Himani Organizations: China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, JPMorgan, UBS, Thomson Locations: HONG KONG, Beijing, New York, Hong Kong, China
Asian stocks teeter as Russia, rates and China risks weigh
  + stars: | 2023-06-27 | by ( Kane Wu | ) www.reuters.com   time to read: +3 min
MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 0.08% at 0126 GMT, after dropping 0.06% an hour earlier. "Asian equities are set for a downturn on Tuesday, prompted by Wall Street's risk-aversion behavior," said Anderson Alves, a global macro analyst at ActivTrades. All three major U.S. stock indexes ended in the red on Monday, with megacap momentum stocks pulling the tech-heavy Nasdaq down the most. The Dow Jones Industrial Average (.DJI) fell 0.04%, the S&P 500 (.SPX) lost 0.45% and the Nasdaq Composite dropped 1.16%. Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) opened up 0.3% and 0.1%, respectively, shaking off losses from the past four sessions.
Persons: Wall, Anderson Alves, Alves, Goldman Sachs, Redmond Wong, Wong, Vladimir Putin's, Brent, Kane Wu, Sam Holmes Organizations: Nikkei, ActivTrades, Dow Jones, Nasdaq, U.S, Global, China, Saxo Markets, Treasury, Thomson Locations: HONG KONG, Russia, Asia Pacific, Japan, Europe, U.S, ActivTrades, Asia
Bedard offers Blackhawks a chance to fast-track the rebuild
  + stars: | 2023-06-27 | by ( ) www.reuters.com   time to read: +3 min
There is no reason to think the Chicago Blackhawks will not use the top pick of the NHL Draft on Wednesday in Nashville to select Canadian Bedard, who has positioned himself as the best prospect since Connor McDavid entered the league in 2015. "Connor Bedard is one of those unique, elite talents who belongs in the same category as other generational talents before him such as Connor McDavid and Sidney Crosby," said Dan Marr, Vice President of NHL Central Scouting. At age 15, Bedard became the first WHL player to be granted exceptional player status to enter the league at an early age. The NHL Draft, featuring 224 selections, will take place over two days starting with the first round on Wednesday. Reporting by Frank Pingue in Toronto Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.
Persons: Connor Bedard, Bedard, Connor McDavid, Sidney Crosby, Dan Marr, Western Hockey League's Regina, Patrick Kane, Kane, Frank Pingue, Toby Davis Organizations: Stanley, Chicago Blackhawks, NHL, NHL Central Scouting, Western Hockey League's, Western Hockey League's Regina Pats, WHL, Blackhawks, Chicago, Thomson Locations: Nashville, American, Toronto
Sky Sports News chief reporter Kaveh Solhekol analyses this transfer market trend... Why are Saudi Arabia spending huge sums on foreign players all of a sudden? Saudi Arabia is looking to expand its economy through other industries in order to help guarantee its financial future. It wants to put Saudi Arabia on the map and raise its profile. What else is Saudi Arabia hoping to achieve? Has Saudi Arabia distorted the transfer market forever?
Persons: Cristiano Ronaldo, Mohammed Saad, Ballon, Karim Benzema, Sergio Ramos, Bernardo Silva, Heung, Min Son, Kaveh, Mason Mount Chelsea, Declan Rice, Saudi Arabia —, sportswashing, Jamal Khashoggi, Oscar, West Ham's Marko Arnautovic, Lionel Messi, Ruben Neves, Kalidou Koulibaly, Hakim Ziyech, Erling Haaland, Harry Kane, Mohammed Hamdi, It's, Son Organizations: Saudi Pro League, Al, Alawwal, Anadolu Agency, Getty Images, Real, Chelsea, Premier League, Sky Sports News, Sky Sports, Manchester United, Arsenal, Soccer, Qatar, eventual, Argentina, Amnesty, Rights, Rights Watch, United, Super League, Brazil, Communist Party, Chinese Super League, MLS, Al Jazira FC, Saudi, Tottenham, Spurs Locations: Al, Shabab, Riyadh, Saudi Arabia, Getty Images Saudi Arabia, Real Madrid, Bournemouth, Saudi, United Nations, Kingdom of Saudi Arabia, Greece, Egypt, China, Europe, Al Hilal, Al Jazira, Abu Dhabi, Qatar
HONG KONG, June 21 (Reuters) - UBS (UBSG.S) will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as the banks move towards integrating businesses. In the Asia Pacific region, there will be significant reduction in Credit Suisse investment bankers covering Australia and China, where the two banks overlap most, two of the sources said. UBS is also looking to axe most of Credit Suisse's Asia consumer and retail and general industrial group coverage teams, the two sources said. Both UBS and Credit Suisse declined to comment. The bulk of Credit Suisse investment bankers in Southeast Asia have left, said one of the three sources and a fourth person with knowledge of the matter.
Persons: Kane Wu, Selena Li, Yantoultra Ngui, David Goodman Organizations: UBS, Credit Suisse, Credit, Former Credit Suisse, Thomson Locations: HONG KONG, Asia, Credit Suisse, Australia, China, Credit, South Korea, Thailand, Vietnam, India, Southeast Asia, Hong Kong, Singapore
CNN —Kylian Mbappé scored his 54th goal of the season for club and country in France’s 1-0 win over Greece in Euro 2024 qualifying, setting a new French goalscoring record. The previous record was 53 goals in a single season set by the late striker Just Fontaine during the 1957-58 campaign. Mbappé scored the winning goal from the penalty spot 10 minutes into the second half after Antoine Griezmann was fouled by Konstantinos Mavropanos, maintaining France’s perfect qualifying record with four wins from four matches. “The only regret I have is to not be able to play safe because we had chances to score the second goal,” France head coach Didier Deschamps told uefa.com. France, yet to concede a goal in qualifying, continues its campaign against the Republic of Ireland at the Parc des Princes in September.
Persons: Kylian Mbappé, Just Fontaine, Germain, Erling Haaland’s, Mbappé, Antoine Griezmann, Konstantinos Mavropanos, Odysseas Vlachodimos, Mavropanos, Randal Kolo Muani, , Didier Deschamps, , Olivier Giroud’s, Les, Harry Kane, England’s, Bukayo Saka, Marcus Rashford, Kalvin Phillips Organizations: CNN, Paris Saint, Manchester City, don’t, France, Les Bleus, Parc des Princes, Three Lions, Arsenal, Bukayo Locations: Greece, Paris, Norway, Cyprus, ” France, Germany, France, Republic of Ireland, Parc des, England, North Macedonia, Ukraine
Editor’s Note: In the new season of “Chasing Life,” CNN Chief Medical Correspondent Dr. Sanjay Gupta explores how to make the most of whatever age you’re at. Tune in to hear Dr. Sanjay Gupta interview his parents, and learn how changing our mindset around aging can influence our health and longevity. Another topic that we explore in the podcast is the idea of a midlife crisis. But Sin also told me that the whole concept of “midlife crisis” has shifted since millennials, in particular, have started hitting middle age. So what does midlife, and the midlife crisis, look like for them?
Persons: Sanjay Gupta, – I’ve, I’m, Archie Bunker, Diana Nyad, Jack LaLanne, ” We’ll, Justine Bateman, Paul Holbrook, spry, Holbrook, haven’t, Nancy Sin, Sin, , Dr, Becca Levy, CNN’s Andrea Kane Organizations: CNN, Pew, US Centers for Disease Control, University of British, CNN Health, Yale University Locations: University of British Columbia
CNN —Monitoring software that uses artificial intelligence (AI) found almost 20,000 abusive social media posts were aimed at players, officials and coaches during the Qatar World Cup, according to a new report released by FIFA. In total, 20 million posts and comments were analyzed across all major social media platforms, successfully verifying the identity of 306 account owners that sent abusive messages. In total, 434,000 posts were flagged by AI and reviewed by humans, the report said, with the abusive messages coming from 12,600 different accounts. It hurts our families.”Of the abusive messages, 38% came from Europe, 36% from South America, 10% from Asia, 8% from Africa and 8% from North and Central America. When grouped together by country – all players, teams and official member association social media handles – France received the most abuse, with England in second and Brazil third.
Persons: , FIFPro –, , Mark, Anthony Kaye, It’s, Harry Kane, Kellyn Acosta Organizations: CNN, Monitoring, Qatar, FIFA, Canada Men’s National Team, England, France, Men’s National Locations: Canada, Europe, South America, Asia, Africa, North, Central America, France, Brazil, England
Despite a nagging Achilles injury, Saka shone in England's fourth straight Group C win that has top with 12 points. "Then when the team were playing well he was still a key player and performing at a really high level. At the end of a long season in which Arsenal finished runners-up to Manchester City in the Premier League, Saka could have sat the game out with the injury, Southgate said. Despite what Southgate called "an outrageous" scoreline, Kane did not open the floodgates until the 27th minute. "That wasn't really how we were expecting the game to be because there's no evidence that Macedonia would suffer like that," Southgate said.
Persons: Molly Darlington, Saka, Gareth Southgate, Southgate, Harry Kane, Marcus Rashford, it's, Kane, I've, I'd, Lori Ewing, Ken Ferris Organizations: Soccer Football, UEFA, Arsenal, Manchester City, Premier League, Southgate, FA, League, Thomson Locations: England, North Macedonia, Old Trafford, Manchester, Britain, Molly Darlington MANCHESTER, Macedonia, Qatar
On Thursday when questioned about his PSG future, he told reporters that Macron has no influence on his career. I’ve already answered, I’ve said that my objective is to stay at PSG, that’s my only option at the moment. Kylian Mbappé, Lionel Messi and Neymar were unable to guide PSG to Champions League glory. Every team in the world would undoubtedly love to sign Mbappé, but his list of realistic suitors will be rather short. Regardless of the final outcome, love it or hate it this saga looks set to rumble on for the foreseeable future.
Persons: Kylian Mbappé, Germain, Mbappé, Neymar, ’ Mbappé, , Emmanuel Macron, Macron, I’ve, – Mbappé, meekly, Lionel Messi, Sergio Ramos, Carl Recine, Erling Haaland, Edinson Cavani, Jude Bellingham, Karim Benzema, It’s, Real, Harry Kane, Frenchman, Kane, scupper, Christophe Simon Organizations: CNN, spurn Real, Paris Saint, PSG, AS Monaco, Real, Twitter, Reuters, Real Madrid, lowball PSG, Champions League, Ligue, Parc des Princes, Qatar Sports Investment, League, Bayern Munich, Borussia Dortmund, Tottenham Hotspur, Manchester United Locations: spurn Real Madrid, Los, Le, , France, Paris, Real, Lens, Parc des, Al, Ittihad, Saudi Arabia, AFP
HONG KONG, June 15 (Reuters) - Goldman Sachs Group (GS.N) is cutting more than 30 banking jobs in Asia, two sources with knowledge of the matter said, as a challenging markets environment weighs on Wall Street banks' dealmaking and trading revenues. The reduction in regional jobs, most of which are in the global banking & markets division, started on Wednesday, said the sources. Citigroup has started to cut more than 20 jobs in Asia, mostly at junior levels, Bloomberg reported on Thursday. All sources declined to be identified as they were not authorised to speak to the media. Reporting by Julie Zhu, Kane Wu and Selena Li in Hong Kong; Editing by Sumeet Chatterjee, Muralikumar Anantharaman and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Goldman Sachs, Morgan Stanley, Julie Zhu, Kane Wu, Selena Li, Sumeet Chatterjee, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Goldman Sachs, Reuters, Citigroup, Bloomberg, Thomson Locations: HONG KONG, Asia, China, Beijing, Hong Kong, dealmaking
Real's history, not money, motivation for move, says Bellingham
  + stars: | 2023-06-15 | by ( ) www.reuters.com   time to read: +3 min
MADRID, June 15 (Reuters) - Jude Bellingham's decision to join Real Madrid was not driven by money but by a desire to contribute to the Spanish side's rich footballing history, the England international said on Thursday. I don't think about money at all when I make these kind of decisions. The respect that England has for Real Madrid is so high. The legacy within the club and this number," Bellingham said. Bellingham declined to comment on the reports, saying: "(Kane) is a world class player, he's my captain for the national team.
Persons: Jude Bellingham's, Bellingham, Toni Kroos, Luka Modric, Federico Valverde, Eduardo Camavinga, Zinedine Zidane, Zinedene Zidane, Jude, Harry Kane, Mbappe, Kane, he's, Aadi Nair, Toby Davis Organizations: Real Madrid, England, Real, Borussia Dortmund, Dortmund, Tottenham Hotspur, Paris St, Thomson Locations: MADRID, Bellingham, Madrid, England, Europe, Paris, Paris St Germain's, Nashik, India
June 15 (Reuters) - Kunlun Tech (300418.SZ) is planning a $400 million capital boost for a subsidiary expected to buy a stake in an artificial intelligence firm via a share issue, as Chinese tech firms ramp up efforts to develop rivals to Microsoft-backed OpenAI's ChatGPT. Kunlun Tech said late on Wednesday its holding subsidiary Star Group Interactive Inc has agreed to acquire the entire equity in Singularity AI Technology Limited, which is working with Kunlun on a large language model, via share issue. After the acquisition, Star Group will receive another $400 million from its biggest shareholder, a wholly owned unit of Kunlun Tech, the filing showed. Singularity AI reported a net loss of 23.7 million yuan ($3.32 million) in the first three months of 2023 and 10.9 million yuan in full year 2022, the filing showed. ($1 = 7.1470 Chinese yuan renminbi)Reporting by Roxanne Liu and Kane Wu; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.
Persons: ChatGPT, Roxanne Liu, Kane Wu, Toby Chopra Organizations: Kunlun, Microsoft, Alibaba, Huawei, Tech, Star Group Interactive Inc, AI Technology Limited, Singularity AI Holdings, Star Group, Reuters, Thomson Locations: China, Kunlun Tech
VIVA Biotech said it will use the net proceeds to redeem convertible bonds in a bid "to settle its outstanding liabilities without occupying its internal resources." The deal included capital injection into VIVA Shanghai by new investors and sale of existing interest in VIVA Shanghai from Viva Investment, another unit of VIVA Biotech, the filing showed. Ltd, will altogether hold 17.55% stake in VIVA Shanghai after the deal, according the filing. HLC SPV and Qingdao Hongyi, both linked to HighLight Capital, will obtain a total of 6.66% stake from the transaction. VIVA Biotech has initiated a restructuring which will transfer all assets and personnel related to its early-stage drug discovery business to VIVA Shanghai, and move out of the Shanghai unit any assets and personnel related to drug development and manufacturing service, the filing showed.
Persons: Roxanne Liu, Kane Wu, Stephen Coates Organizations: Singapore's Temasek, Capital, VIVA Biotech Holdings, HK, VIVA, VIVA Shanghai, VIVA Biotech, Viva Investment, Daxue Investments, Temasek Holdings, Temasek, Ltd, SPV, Qingdao Hongyi, Investors, Thomson Locations: Shanghai, Viva
[1/6] An art installation dubbed "Double Ducks" by Dutch artist Florentijn Hofman, is seen at Victoria Harbour, in Hong Kong, China June 9, 2023. Hofman said his pair of ducks represent "twice the fun, double the happiness" and bring new excitement to Hong Kong. "We would like more installation art like the rubber ducks in Hong Kong. Right now there isn't much space for art in Hong Kong if we compare it to Macau or Shenzhen, they have more art installations." A 40-year-old engineer named Kane said the ducks were positive for Hong Kong.
Persons: Florentijn Hofman, Tyrone Siu, Hofman, peng, Anna, Kane, It's, Justin Fung, Jessie Pang, Joyce Zhou, Farah, Michael Perry Organizations: Victoria Harbour, REUTERS, Ducks, Thomson Locations: Victoria, Hong Kong, China, Tyrone Siu HONG KONG, Hong, Victoria Harbour, Netherlands, France, Brazil, Hong Kong's, Tamar, Macau, Shenzhen
Remote jobs aren't disappearing — they're just moving out of expensive coastal metros like New York and San Francisco. Faced with labor shortages and rising wages, companies are hiring for more remote jobs overseas and in smaller U.S. cities. Where remote jobs are goingRemote hiring is expanding beyond its traditional strongholds, like India, creating new "Zoomtowns" overseas and in pockets of the U.S. Midwest. The number of North American companies with remote workers in Central America and the Caribbean, for example, has grown 300% between 2020 and 2023, according to new research from Lightcast. How to stand out in a more competitive remote job market
Persons: Nicholas Bloom, Kim Rutledge, Rutledge, George Denlinger, Robert Half, Layla O'Kane, Bloom Organizations: Companies, U.S . Midwest, Stanford, U.S, U.S ., Lightcast Locations: New York, San Francisco, Phoenix, Asheville, Boise, India, U.S, Mexico, Philippines, Central America, Caribbean, Lightcast, Austin, Monterrey, Bengaluru, California, Robert Half . Illinois , Ohio, Nebraska, Denlinger
CNN —As a father of three teenage girls, one of my biggest parenting challenges has been navigating smartphones and social media. Would smartphones and social media be given that same level of dire warning? I often think about social media less like tobacco and more like junk food. And you can also help them understand what’s a safe and unsafe interaction or engagement on social media. How to talk about screen timeNot sure how to start a conversation with your kids about internet and social media use?
Persons: Vivek Murthy, , , , That’s, ” Murthy, we’ve, Murthy, they’re, you’re, can’t, Dr, Sanjay Gupta, CNN’s Andrea Kane Organizations: CNN, Pew Research Center, YouTube, Big Tech, CNN Health
George Clinical declined to comment. The private equity firm has entered a deal to buy most of George Clinical, the clinical research organisation said in December, adding the transaction was subject to FIRB approval. George Clinical did not disclose a sale price but said its parent, the George Institute, a medical research group, would retain an undefined stake. The George Clinical deal would involve the holding of healthcare and patient data which is considered sensitive in Australia. Hillhouse has offered to ensure data remains onshore and not be shared overseas, the people said.
Persons: George Clinical, Hillhouse, Zhang Lei, George, George Clinical's, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Christopher Cushing Organizations: Hillhouse Capital, Foreign Investment, Board, of, Treasury, George Institute, Yale University, Tencent Holdings, HK, JD.com Inc, Baidu Inc, Koninklijke Philips NV, Thomson, & $ Locations: HONG KONG, Beijing, Hong Kong, Singapore, London, United States, Australia, China, Refinitiv, Netherlands, Asia, Pacific, Sydney
Economic challenges and geopolitical tensions have made fundraising and investment difficult, and eaten into global venture funds' returns. "It has become increasingly complex to run a decentralized global investment business," Sequoia said in the statement. Sequoia China will retain its current Chinese name and adopt the name HongShan in English, while Sequoia India and Southeast Asia will become Peak XV Partners, the firm said. Sequoia started to invest in local companies in China, India and Southeast Asia more than 15 years ago, according to the statement. Sequoia China, founded and led by former entrepreneur and investment banker Shen, has invested in more than 1,200 companies in sectors ranging from technology to healthcare.
Persons: Sequoia, Roelof Botha, Neil Shen, Shailendra Singh, Shen, Biden, Weiheng Chen, Wilson, Steven Yu, Yu, Trump, we've, Singh, Oyo, Kane Wu, Julie Zhu, Sriram, Roxanne Liu, Krystal Hu, Bernadette Baum, Mark Potter, Paul Simao Organizations: Sequoia Capital, Economic, Investment, Sequoia, XV Partners, HK, PDD Holdings, Reuters, Global Law, China -, Thomson Locations: HONG KONG, China, India, Southeast Asia, COVID, Sequoia China, Sequoia India, Shanghai, U.S, China - U.S, Hong Kong, Mumbai, Beijing, San Francisco
HONG KONG, June 6 (Reuters) - Global venture capital giant Sequoia announced Tuesday that it is planning to separate its China, and India and Southeast Asia businesses into two independent firms. The China and India and Southeast Asia businesses will become independent and distinct with separate brands, by March 31, 2024, Sequoia said in a statement signed by managing partners Roelof Botha, China head Neil Shen and India head Shailendra Singh. Sequoia China will retain its current Chinese name and adopt the name HongShan in English, while Sequoia India and Southeast Asia will become Peak XV Partners, the firm said. The firm partnered with local leaders in China and India and Southeast Asia over 15 years ago, according to the statement. Singh and his team raised a $2.5 billion India and Southeast Asia fund last year, its biggest yet.
Persons: Sequoia, Roelof Botha, Neil Shen, Shailendra Singh, Shen, Singh, Kane Wu, Julie Zhu, Sriram, Louise Heavens, Bernadette Baum Organizations: Sequoia, Sequoia Capital, XV Partners, HK, PDD Holdings, Thomson Locations: HONG KONG, China, India, Southeast Asia, Europe, Sequoia China, Sequoia India, Oyo, Mumbai
But China, which bristles at visits to Taiwan by foreign government officials, tends to ignore trips by business executives, who usually keep clear of politics. Dimon will meet bank employees and clients in Taiwan on his visit, said the source, who sought anonymity as the plans were not public, while adding that no meetings were planned with Taiwan officials. As part of his Asia tour, Dimon will also visit South Korea after the Taiwan trip, said the source. But there was no plan for President Tsai Ing-wen to meet Dimon, her office said on Friday. Dimon favours East-West "derisking" rather than decoupling, he told the three-day JPMorgan Global China Summit event in the city on Wednesday.
Persons: Jamie Dimon, Andrew Collier, Dimon, Nvidia Corp's, Jensen Huang, Pat Gelsinger, Dimon's, Ma Ying, Tsai Ing, Chen Jining, Selena Li, Kane Wu, Scott Murdoch, Ben Blanchard, Emily Chan, Mrinmay Dey, Sumeet Chatterjee, Clarence Fernandez Organizations: JPMorgan Chase &, JPMorgan, Orient Capital Research, Bloomberg, Wall, U.S, Nvidia, Intel, Financial, Commission, Shanghai's Communist, JPMorgan Global China, Thomson Locations: Taiwan, China, Taipei, Beijing, Hong Kong, Asia, South Korea, East, United States, Sydney, Bengaluru
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