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Negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement over the acquisition of the largest oil producer in Permian basin. So far, shareholders profited as the share price more than doubled since early 2021 when activist investors publicly pushed for changes. Big Oil is responsible for the bulk of human-induced greenhouse gas emissions and pressure for action is building. "Investor pressure has decreased; they're backtracking... the big investors are enabling this," said climate investment group Follow This founder Mark van Baal. Privately, investors worried if Exxon bowed out of production, someone else would pick up the slack and nothing would be gained for shareholders or energy transfer.

Persons: Olaf Scholz, Exxon Mobil's, Jim Rossman, that's, Andrew Logan, tussles, Mark van Baal, Charlie Penner, Ceres, Logan, Marguerita Choy Organizations: Environmental, Exxon, Republique, New Global Financial, Big Oil, Energy, Natural Resources, Pioneer, Barclays, Oil, Public, International Energy Agency, Investors, Ancora, Holdings, Algonquin Power & Utilities, Elliott Investment Management, NRG Energy, Smart, Thomson Locations: Paris, France, BOSTON, Ukraine

☆ Tiger Woods and Rory McIlroy's TGL golf league will air on ESPN
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Disney' s ESPN has nabbed the broadcast rights to air matches from TGL, the startup golf league led by Tiger Woods and Rory McIlroy. TGL, which is in partnership with the PGA Tour, will have its debut Jan. 9 as part of a multiyear deal. Both TGL matches will air on traditional TV's ESPN and streamer ESPN+. The agreement between the PGA Tour and LIV has yet to be finalized. TGL, a new primetime, high-tech golf league created by Woods, McIlroy and former NBC Sports executive Mike McCarley, has attracted stars from the PGA Tour.

Persons: Rory McIlroy, Tiger Woods, TGL, LIV Golf, LIV, Woods, McIlroy, Mike McCarley, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler, Billy Horschel, Steve Cohen Organizations: Augusta National Golf Club, Disney, ESPN, PGA, ABC, College Football, NFL, Tour, Saudi Arabia's Public Investment Fund, Endeavor Group Holdings, Fenway Sports Group, CNBC, NBC Sports, Major League Baseball's New York Mets, New York, Private Ventures Locations: Augusta , Georgia, TGL, Palm Beach Gardens , Florida

☆ Embattled Chinese property firm Evergrande up 20% after trading resumes in Hong Kong
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Evergrande's market valuation has been hovering around 5 billion Hong Kong dollars ($639.8 million), a fraction of its value prior to the developer's default in late 2021. The stock rose 20.31% after briefly touching 46 Hong Kong cents shortly after the open. Other Hong Kong listed property stocks were firmly in the red. Country Garden Holdings plunged 7.67%, while Longfor Group Holdings lost 4.82%. China's property market has faced faltering consumer confidence, with Evergrande and Country Garden steeped in debt problems.

Persons: Hui Ka Yan, Evergrande Organizations: Hong Kong, Company, Hong, Garden Holdings, Longfor, Holdings, Henderson Land Development Locations: Nanchuan, Xining, Qinghai province, China, Hong Kong

☆ Endeavor, Fenway Sports consider investment in the PGA Tour
▼ + stars: | 2023-09-28 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017. The discussions, which are in preliminary stages, stem from a PGA Tour investment vehicle created as part of the framework agreement for its proposed deal with PIF. "Throughout 2023, the PGA Tour has demonstrated its strength, reach and value as an enterprise. In June, the PGA Tour announced a proposed deal that would see it combine with rival LIV Golf following months of lawsuits and competition between the two. The deal between LIV and the PGA Tour has faced criticism and controversy.

Persons: LIV, Saudi Crown Prince Mohammed bin Salman, PIF Organizations: Investment, Endeavor Group Holdings, Fenway Sports Group, PGA Tour, PGA, Public Investment Fund, Endeavor, Fenway, Bloomberg, LIV Golf, Saudi Crown, LIV, UFC, Wrestling Entertainment, Major League Baseball's Boston Red Sox, Liverpool Football Club, National Hockey League's Pittsburgh Penguins Locations: Cromwell , Connecticut, Saudi

Trading information and logo for Endeavor Group Holdings, Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 28 (Reuters) - Endeavor Group (EDR.N) and Boston Red Sox owner Fenway Sports Group have expressed interest in investing in the PGA Tour, according to a source familiar with the negotiations. After a very public war of words, PGA, DP World Tour and Saudi-backed LIV Golf circuit in June announced a shocking agreement to merge and form one unified commercial entity. PGA's talks with Endeavor and Fenway are still at an early stage, the source said, requesting anonymity because the matter is confidential. Both Fenway and Endeavor are already major players in the sporting industry.

Persons: Brendan McDermid, LIV, PGA's, Niket, Shilpi Majumdar, Shweta Agarwal Organizations: Endeavor Group Holdings, Inc, New York Stock Exchange, REUTERS, Endeavor, Boston Red Sox, Fenway Sports, PGA, Saudi Arabia's Public Investment Fund, U.S, Senators, Fenway, Bloomberg News, Public Investment Fund, Major League Baseball's Boston Red Sox, Premier League club Liverpool, World Wrestling Entertainment, Thomson Locations: New York City, U.S, Saudi, Bengaluru

☆ Once dubbed a 'zombie' index, this Asian stock market is trying European-style trading to reinvent itself
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.

Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe

☆ Australia fines lender ANZ $9.6 mln for misleading customers over funds
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO: A pedestrian is reflected in the window of a branch of ANZ in central Sydney, Australia, October 25, 2017. The Australian lender falsely indicated to customers that they could avail cash advance from funds stated to be their 'Available Funds' without incurring fees and interest, according to the Australian Securities & Investments Commission (ASIC). The error resulted in customers being charged with thousands of dollars in fees while the average remediation paid was around $45 per affected account. "Many ANZ customers relied on the account information displayed by the bank and were charged fees that were inconsistent with that information," said ASIC Deputy Chair Sarah Court. "ANZ accepts responsibility for what has occurred and apologises to its customers, and has addressed the issues that gave rise to the contraventions," the lender said.

Persons: Steven Saphore, Sarah, Himanshi Akhand, Aishwarya Nair, Sherry Jacob, Phillips Organizations: ANZ, REUTERS, ANZ Group Holdings, Australian Securities & Investments Commission, National Consumer Credit, Thomson Locations: Sydney, Australia, Bengaluru

☆ Not much exciting about Aussie banks as high costs pressure earnings - Macquarie
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Australia's "Big Four" banks - among the top seven listed companies in the country - control 75% of the country's A$2 trillion mortgage market. That euphoria is now largely over as high living costs impact borrowers' capacity to repay loans. Macquarie, an investment bank with a small retail banking operation, said banks' cost bases are likely to remain under pressure as more than 70% of their expenses related to personnel. Macquarie added that it expects banks' expenses to grow by around 1% to 7% in fiscal 2023 through to fiscal 2025, with third-biggest lender Westpac Banking Corp (WBC.AX) seen being impacted more than its peers. The regional banks will remain disadvantaged in the current environment as they will have to continue to invest to keep up, Macquarie said, estimating up to 4% higher expenses than consensus.

Persons: Macquarie, Sameer Manekar, Janane Organizations: Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Bendigo, Bengaluru

☆ Not much exciting about Aussie banks as high costs pressure earnings, Macquarie says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Persons: Loren Elliott, Macquarie, Sameer Manekar, Janane Organizations: Central Business, REUTERS, Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Sydney, Australia, Bendigo, Bengaluru

Shinsuke Nakamura and Karrion Kross wrestle during the WWE SmackDown at Coliseo de Puerto Rico José Miguel Agrelot on May 5, 2023, in San Juan, Puerto Rico. WWE's "Friday Night SmackDown" will return to USA Network in October 2024 as part of a five-year domestic media rights partnership between TKO Group Holdings and NBCUniversal , WWE said Thursday. WWE does not expect to reach a rights agreement for its flagship show "Raw" until next year. "SmackDown" has been on Fox since October 2019, with a rights agreement for $205 million per year in a five-year deal. "SmackDown" last appeared on USA Network from 2016 to 2019.

Persons: Shinsuke Nakamura, Karrion Kross, Coliseo de Puerto Rico José Miguel Agrelot, WWE's, Frances Berwick, we'll Organizations: WWE, Coliseo, Coliseo de Puerto Rico, USA Network, NBCUniversal, CNBC, Fox, Holdings, Endeavor, NYSE, NBC, NBCUniversal Entertainment Locations: Coliseo de Puerto, San Juan , Puerto Rico, USA

The capability, which Intel showed off during a software developer conference held in Silicon Valley, could let businesses and consumers test ChatGPT-style technologies without sending sensitive data off their own computer. It is made possible by new AI data-crunching features built into Intel's forthcoming "Meteor Lake" laptop chip and from new software tools the company is releasing. Intel said on Tuesday that it was building a new supercomputer that would be used by Stability AI, a startup that makes image-generating software. China's Alibaba Group Holdings (9988.HK) is using its newest central processors to serve up chatbot technology, Intel said. If Intel Chief Gelsinger can make AI "so that anyone can use it, that creates a much bigger market for chips – the chips that he makes," Hutcheson said.

Persons: Arnd, Taylor Swift, Pat Gelsinger, Gelsinger, Sachin Katti, Dan Hutcheson, TechInsights, Hutcheson, Stephen Nellis, Max Cherney, Peter Henderson, Lincoln, Josie Kao Organizations: Intel Corporation, REUTERS, JOSE, Intel, ., Taiwan Semiconductor Manufacturing, Nvidia, Stability, Alibaba, Holdings, Meta, Reuters, Thomson Locations: Davos, Switzerland, California, Silicon Valley, HK, San Francisco, San Jose , California

☆ Alibaba tells Erdogan it plans to invest $2 billion in Turkey
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Shopping trolley is seen in front of Alibaba logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsISTANBUL, Sept 18 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK) has told Turkish President Tayyip Erdogan it plans to invest $2 billion in Turkey. Michael Evans, president of Alibaba, made the comments in a meeting with Erdogan, according to a statement from the company's Turkish unit. Evans also said Alibaba has invested $1.4 billion in Turkey through its unit Trendyol, one of Turkey's best known e-commerce platforms, the statement said. Erdogan is in the United States to attend the 78th session of the U.N. General Assembly.

Persons: Dado Ruvic, Tayyip Erdogan, Michael Evans, Alibaba, Erdogan, Evans, Trendyol, Caglayan Cetin, Daren Butler, Edwina Gibbs Organizations: REUTERS, Rights, Alibaba, Holding, HK, Turkish, General, Istanbul, Thomson Locations: Rights ISTANBUL, Turkey, Turkish, United States, Ankara

☆ Australia's Costa Group gets lower buyout offer from PE firm Paine Schwartz
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

Under the proposal, Costa's shareholders would receive A$3.20 apiece for the remaining 85.16% stake PSP does not already own, lower than the A$3.50 apiece offer received in July. The latest offer still represents a 8.8% premium to Costa's last closing price. Costa, Australia's leading grower, packer and marketer of fresh fruit and vegetables, said it is considering the lower offer and is continuing to engage with PSP regarding the terms and conditions. PSP paid A$2.60 a share for a 13.78% stake in Costa in October, which it increased to 14.84% in late March. Costa had given PSP access to its books on a non-exclusive basis for eight weeks after receiving the initial offer in July.

Persons: Daniel Munoz, Paine Schwartz, packer, Costa, Himanshi, Lisa Shumaker, Stephen Coates Organizations: REUTERS, Costa Group Holdings, Monday U.S, Paine Schwartz Partners, PSP, Thomson Locations: Sydney, Costa, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

TOKYO (AP) — The Japanese boys-band production company at the center of an unfolding sexual abuse scandal, Johnny & Associates, chose three former judges Wednesday to head its effort to compensate hundreds of victims. “We recognize that the late Johnny Kitagawa carried out sexual assaults over a long period, and we apologize to the victims from the bottom of our hearts,” the company said. Among the latest was Kao Corp., a chemical and cosmetics company, which cited “considerations for people’s various feelings” on Tuesday. McDonald’s Japan has also said it will stop using Johnny’s stars in future deals, but past ads featuring them remained on its official site. Johnny’s stars are extremely popular, leading to sponsorship revenue and hit TV shows.

Persons: Johnny Kitagawa, Kitagawa, Julie Keiko Fujishima, Johnny's, Noriyuki Higashiyama, Johnny’s, “, ”, McDonald’s, ___ Yuri Kageyama Organizations: TOKYO, Johnny & Associates, Asahi Group Holdings, Suntory Holdings, Kao Corp, Public, NHK, Japan Federation of Bar, Business, Rights Locations: Tokyo, Japan, McDonald’s Japan

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, FedEx, Match, Ford, Amazon, Microsoft and more
▼ + stars: | 2023-09-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating after Apple's iPhone event Tuesday. F (Buy) earnings more resilient than appreciated driven by Pro business." Morgan Stanley reiterates Darden as overweight Morgan Stanley said it's bullish heading into the owner of Red Lobster's earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its recent upgrade of the stock despite investor pushback. TD Cowen reiterates FedEx as outperform TD Cowen said it's cautiously optimistic heading into FedEx earnings next week.

Persons: Morgan Stanley, Apple, it's, BEV, Darden, Red, Commerce Max, Tesla, pushback, Michael Kors, Guggenheim, TD Cowen, Hershey, Cowen, Bernstein, Roth, Roth MKM, BTIG, Lennar, F3Q, Needham Organizations: JPMorgan, UBS, Ford, General Motors, Pro, Citi, Commerce, JPMorgan downgrades Oracle, WWE, UFC, Holdings, NYSE, Microsoft, FedEx, " Bank of America, Garden Entertainment, Bank of America, YouTube Locations: China, Capri, Lennar, GOOGL

☆ 3-Stock Lunch: UPS, CASY & TKO
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: UPS, CASY & TKORyan Belanger, Claro Advisors managing principal and founder, joins ‘Power Lunch’ to discuss three stocks: UPS, Casey's General and TKO Group Holdings.

Persons: Ryan Belanger Organizations: CASY, Claro Advisors, Casey's, TKO, Holdings

☆ Alibaba CEO warns of being ‘displaced’ if the Chinese tech giant doesn’t keep up in AI
▼ + stars: | 2023-09-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Signage at the Alibaba Group Holding Ltd. booth at the Smart China Expo in Chongqing, China, on Monday, Sept. 4, 2023. Alibaba needs to be "user first" and "AI-driven," new CEO Eddie Wu told employees on Tuesday, as he laid out the strategic priorities for the Chinese tech giant. As the world progresses, Alibaba needs to evolve even faster!," Wu said in a letter to employees that was seen by CNBC. However, in a surprise move, Zhang this week quit as CEO of the cloud business with Wu taking over in the interim. It comes months after Alibaba split its company into six different business groups, the biggest shakeup in its history.

Persons: Eddie Wu, Wu, Jack Ma's, Daniel Zhang, Zhang, Alibaba Organizations: Alibaba, Holding, Smart, CNBC Locations: Chongqing, China

TOKYO (AP) — Several major Japanese companies have decided to stop using stars who are represented by Johnny & Associates, an entertainment company at the center of a sexual assault scandal. Victims have come forward, demanding an apology and financial compensation from Johnny & Associates, which remains one of this nation’s most powerful entertainment companies. Critics say the mainstream news media kept silent because it didn’t want to lose access to Johnny’s stars for their programming. But public opinion has shifted dramatically in recent months, with the wave of companies dropping Johnny's expected to grow. Suntory Holdings said it will stop using Johnny’s personnel in its ads and has formally demanded improved corporate governance.

Persons: Johnny &, Junichi Okada, Toma Ikuta, Sho Sakurai, Johnny, Julie Keiko Fujishima, Johnny Kitagawa, Fujishima, Kitagawa, Hibiki, Hokuto, Atsushi Katsuki, Johnny's, ”, ___ Yuri Kageyama Organizations: TOKYO, Johnny, Johnny & Associates, Beverage, Asahi Group Holdings, Johnny’s, Japan Airlines, Nippon Life Insurance, Suntory Holdings, Asahi, Twitter Locations: Tokyo, SixTONES

☆ TKO, the newly merged UFC-WWE, aspires to grow beyond fighting
▼ + stars: | 2023-09-12 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Ultimate Fighting Championship and World Wrestling Entertainment executives decided to name their new publicly traded company TKO to honor the companies' expertise in fighting, but they have broader aspirations than just owning combat sports. That includes eventually going to market together for international media rights and bringing together the company's production efforts and back offices, Shapiro said. After that, TKO plans to swing into acquisition mode to grow the company, he said. Endeavor also owns Professional Bull Riders and two tennis tournaments — the Mutua Madrid Open and the Miami Open. In the coming months, TKO executives will also negotiate new media deals for WWE "Raw" and "SmackDown" on traditional pay TV.

Persons: WME, Mark Shapiro, Shapiro Organizations: Wrestling Entertainment, New York Stock Exchange, Endeavor Group Holdings, UFC, Hollywood, WWE, CNBC, Endeavor, Professional Bull Riders, Madrid, Miami, WME, Fox

☆ Alibaba's grocery unit IPO put on ice amid disappointing valuation - Bloomberg News
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Alibaba said in May that Freshippo's IPO would be completed in six to 12 months and that it was also considering listing its logistic unit, Cainiao. Alibaba's capital management committee, which is overseeing the breakup of the company, recently decided to wait for a more favorable market before moving forward with a Freshippo IPO and will prioritize listings of other units, the report added. Reuters reported last year that Freshippo was seeking to raise funds at a valuation of about $6 billion, much lower than a hoped-for valuation of up to $10 billion earlier. The Freshippo business is a supermarket chain in China and also offers services like dine-in and 30-minute home delivery. Reporting by Shubhendu Deshmukh and Yuvraj Malik in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Alibaba, Freshippo, Shubhendu Deshmukh, Yuvraj Malik, Anil D'Silva Organizations: REUTERS, Holding, Bloomberg, Reuters, Thomson Locations: HK, Hong Kong, China, Bengaluru

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Prime Group Holdings Llc FollowNEW YORK, Sept 5 (Reuters) - Prime Group Holdings LLC, a private equity firm based in Saratoga Springs, New York, has agreed to pay $20.5 million to settle U.S. Securities and Exchange Commission charges related to disclosure failures, the regulator said on Tuesday. Prime Group failed to adequately disclose millions of dollars in real estate brokerage fees paid to a firm owned by its CEO. Prime Group did not adequately disclose to its investors that an affiliated firm was booking real estate brokerage fees related to an investment fund the group launched in 2017, the SEC said. A representative for Prime Group, which did not admit or deny the SEC's charges, declined to comment.

Persons: Andrew Kelly, Chris Prentice, Chizu Nomiyama, Jonathan Oatis Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Prime Group Holdings, U.S, Securities, Exchange, Prime, SEC, Prime Group, Thomson Locations: Washington ,, Saratoga Springs , New York

☆ Alibaba's cloud division eyes state firms for up to $3 bln fundraising- Bloomberg News
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 4 (Reuters) - Alibaba Group Holding Ltd's (9988.HK) cloud division is weighing raising funds via a private round from Chinese state-owned enterprises ahead of the business' market debut in Hong Kong, Bloomberg News reported on Monday. The tech giant is working with advisers on a potential fundraise by its Cloud Intelligence unit that could mop up about 10-20 billion yuan ($1.38-$2.75 billion), the report said, citing people with knowledge of the matter. Earlier this year, Alibaba announced plans to restructure into six units following a two-year regulatory crackdown on China's tech sector. It approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders, aiming to complete the public listing within the next 12 months.

Persons: Dado Ruvic, Alibaba, Shivani Tanna, Dhanya Ann Thoppil Organizations: REUTERS, Bloomberg, Cloud Intelligence, Cloud Intelligence Group, Ant, Thomson Locations: HK, Hong Kong, Alibaba, Bengaluru

Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., May 14, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies CURO Group Holdings Corp FollowAug 22 (Reuters) - A U.S. consumer finance regulator sued a subsidiary of fintech lender Curo Group Holdings Corp. (CURO.N) on Tuesday, alleging it pushed struggling borrowers to refinance short-term loans to keep them in debt and reap fees. Curo acquired Heights Finance for $360 million in late 2021 from private equity firm Milestone Partners. The agency said Heights Finance generated 40% of its net revenue from repeated refinances. The case is CFPB v. Heights Finance Holding Co. et al., No.

Persons: Andrew Kelly, Rohit Chopra, Curo, refi, Jody Godoy, Mark Potter Organizations: Consumer Financial Protection Bureau, Washington , D.C, REUTERS, CURO Group Holdings, Curo Group Holdings Corp, U.S, Finance Holding Co, Heights Finance, Milestone Partners, Finance, Heights Finance Holding, District of, Thomson Locations: Washington ,, U.S, Greenville , South Carolina, Texas , Oklahoma , Alabama, Georgia , Tennessee, South Carolina, District of South Carolina, New York

☆ ANZ Group reports higher late mortgage payments in stiff market
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney, Australia, October 25, 2017. REUTERS/Steven Saphore/File Photo/File Photo Acquire Licensing RightsSummaryCompanies Reports rise in customer depositsMarginal increase in gross impaired assetsAug 17 (Reuters) - ANZ Group Holdings (ANZ.AX) said on Thursday late mortgage repayments past 90 days edged higher in the June quarter but were still below historic levels while logging higher customer deposits in a stiff market. The country's fourth-largest bank is still dealing with rising financial stress among mortgage customers as higher cash interest rates put pressure on its margins. "Liability portfolio mix continued a shift towards higher interest rate, lower margin, savings accounts and term deposits," ANZ said in a statement. ANZ recorded a continued growth in retail and institutional customer deposits while flagging a marginal rise in its gross impaired assets.

Persons: Steven Saphore, Rishav Chatterjee, Nausheen, Shilpi Majumdar, Sherry Jacob, Phillips Organizations: New Zealand Banking Group, ANZ, REUTERS, ANZ Group Holdings, Thomson Locations: Australia, Sydney, Bengaluru

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