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Hohn, who runs hedge fund TCI Fund Management, owns 3.1% of Cellnex's shares and 5.9% in derivatives, corporate records show. However, Hohn last month wrote to Airbus, in which TCI has a 3% stake, demanding it drop a deal. "We believe that the subsequent hiring process for a new CEO has been mishandled by the board and resulted in insufficient progress to recruiting a suitable replacement," Hohn wrote in the letter, published on TCI's website. "We intend to exercise our shareholder rights to request certain shareholder resolutions be added to the next AGM," the letter said. Kan was named Cellnex's chairman in 2021 and has been an independent member of the board since 2015.

☆ TikTok congressional hearing: CEO Shou Chew grilled by US lawmakers
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

TikTok, which has more than 150 million American users, was repeatedly hammered in the ongoing hearing where no lawmaker offered any support. PARENTS UNHAPPYRepresentative Diana DeGette, a Democrat, said TikTok's efforts to prevent the spread of misinformation on the platform were not working. REUTERS/Evelyn Hockstein 1 2 3 4 5"You gave me only generalized statements that you're investing, that you're concerned, that you're doing work. Wedbush analyst Dan Ives on Twitter said, "TikTok CEO testimony so far we would characterize as a 'mini disaster' for this key moment for TikTok. TikTok is now poster child of the US/China tensions and lawmakers have a lot of q’s with not enough concrete answers."

☆ Shou Zi Chew: Who is the TikTok CEO testifying before Congress?
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Evelyn HocksteinMarch 23 (Reuters) - TikTok Chief Executive Shou Zi Chew has mostly kept a low profile since taking the job in 2021 but on Thursday he is testifying before U.S. lawmakers, many of them suspicious of the popular Chinese-owned social media app. Chew previously worked as an investment banker at Goldman Sachs and investment firm DST, which was an early backer of ByteDance, the company that owns TikTok. TikTok pointedly said in a letter to lawmakers last year that Chew was not from China and that the company is independent of ByteDance. Chew, who is married and has two children, raised his public profile last year by creating his own TikTok account, @shou.time. Chew has told media that TikTok does not threaten U.S. interests.

☆ TikTok CEO Seeks to Convince Congress Chinese-Owned App Isn’t Security Threat
▼ + stars: | 2023-03-23 | by ( John D. Mckinnon | Ryan Tracy | ) www.wsj.com time to read: 1 min

WASHINGTON—TikTok CEO Shou Zi Chew testifies Thursday morning at a high-stakes congressional hearing, as safety and security concerns over the Chinese-controlled platform deepen even as its popularity in the U.S. grows. Mr. Chew, a Harvard-educated Singaporean army reservist and former Goldman Sachs banker, will testify before the House Energy and Commerce Committee, whose members have already signaled concerns that Beijing could influence TikTok content and harvest user data.

☆ Investors cut bearish bets on most Asian FX as policy rate bets shift
▼ + stars: | 2023-03-23 | by ( Savyata Mishra | ) www.reuters.com time to read: +3 min

The currency firmed on Thursday, following dovish comments from the U.S. Federal Reserve that reined in expectations for more interest rate hikes and lifted sentiment for other Asian currencies. The dollar index slipped to near seven-week lows following the Fed's latest policy statement that no longer says that "ongoing increases" in rates will likely be appropriate. Bearish bets on Singapore's dollar eased to their lowest since Nov. 18, 2021. Short bets on the Indonesian rupiah and the Indian rupee rose slightly from a fortnight ago, while sentiment toward South Korea's won improved. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.

EV made up almost 12% of all car sales in Singapore last year, up from almost 4% in 2021, according to the Land Transport Authority. Still, EVs represented just 1% of cars on the road, a Reuters analysis of ownership data found. In Singapore, a small island with an extensive public transport system, only about 12 cars are owned per 100 people. Over the past decade, the number of Ferraris (RACE.MI) in Singapore has grown by 67% and Lamborghinis by 38%. ($1 = 1.3264 Singapore dollars)Reporting by Xinghui Kok; additional reporting by Kevin Krolicki; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ TikTok and its CEO are fighting to save the app in the US
▼ + stars: | 2023-03-22 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +10 min

In his talk, Chew, the CEO of TikTok, said the social network would not provide US user data to the Chinese government and has never been asked to do so. Chew stressed the steps TikTok has taken to protect US user data. The Harvard event is just one of several media appearances Chew has made in recent weeks amid mounting scrutiny of TikTok and of himself. “It’s life or death for TikTok, from their perspective,” said Justin Sherman, the CEO of Global Cyber Strategies, D.C.-based research and advisory firm, who was among the researchers TikTok invited to be briefed on “Project Texas,” the company’s $1.5 billion initiative to address lawmakers’ security concerns. But for some lawmakers with security concerns, the latest push “may be too little too late.”In his TikTok video on Tuesday, Chew appealed directly to users of the app.

☆ TikTok says it has 150 million US users amid renewed calls for a ban
▼ + stars: | 2023-03-21 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —TikTok now has 150 million monthly active users in the United States, CEO Shou Chew confirmed on Tuesday, in a clear attempt to highlight the platform’s vast and growing reach in the country amid renewed calls for a ban. “That’s almost half the US coming to TikTok to connect, to create, to share, to learn, or just to have some fun,” Chew said in a TikTok video on Tuesday. The figure also includes about five million businesses that use TikTok to reach customers, Chew said. TikTok acknowledged to CNN last week week that federal officials are demanding the app’s Chinese owners sell their stake in the social media platform, or risk facing a US ban of the app. In 2020, when the Trump administration made a similar threat, TikTok said it had 100 million US users.

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

☆ Crypto founders are running out of bank options after the collapses of SVB and Signature. Here's where they're scrambling to move their money.
▼ + stars: | 2023-03-15 | by ( April Joyner | Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Crypto founders face dwindling banking options after the collapses of Silvergate and Signature Bank. After back-to-back collapses of several crypto- and startup-friendly banks — Silvergate, Signature, and Silicon Valley Bank — crypto founders face a huge void. Silvergate and Signature, in particular, filled a vital role in the financial system for crypto startups, several founders told Insider. Well before the collapse of SVB and downfall of Signature, crypto founders had found banking havens outside the US in locales such as Dubai and Singapore. "It's a recurring conversation that crypto companies have that are based out of the states," she said.

☆ This teenager is breaking records at soccer and training with the boys — and she's hungry for more
▼ + stars: | 2023-03-06 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +6 min

I think I worked very hard, I put my head down and continued to work," said 18-year-old Danelle Tan. The perception that soccer is a "male sport" isn't new, but Tan said she believes that's changing. Snakes and laddersTan knows all about breaking barriers — she's already made history more than once at a young age. I don't think there's anybody in the entire world who can be motivated every single day ... "I don't think there's anybody in the entire world who can be motivated every single day.

☆ Dow said it was recycling our shoes. We found them in Indonesia
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +19 min

While the sample was small, the fact that none of these shoes made it to a Singapore recycling facility underscores weaknesses in the system. Dow said these builds will use the 10,000 kilograms (22,000 pounds) of recycled shoe material that have been produced through the Singapore recycling project so far. Reuters had dropped those shoes into a Dow recycling bin at a Singapore community center in September, three months earlier. Recycling flopsThis is not the first novel recycling scheme launched by Dow that hasn’t lived up to its billing. In its Jan. 18 statement, Dow said the shoe recycling partners are “energized by the common vision of sport championing a greener and more sustainable Singapore.” Dow did not comment on the Journal of Consumer Psychology study.

☆ China's millennial managers are confronting a pissed-off wave of Gen-Z staff out to 'rectify' the workplace
▼ + stars: | 2023-02-22 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +8 min

China's Gen Z is out to "rectify" the workplace, and they want their millennial bosses to give in. The Weibo hashtag "The post-2000s generation is rectifying the workplace" is a forum filled with Gen Z rage. The hashtag documents Chinese Gen Z rage in all its varied formsIt is unclear exactly how the hashtag started. At times, the posts on the Gen Z workers' threads devolve into rants about their "evil" millennial bosses. The rumblings from Gen Z, however, stand in stark contrast to narratives about Chinese millennials that have dominated popular culture.

☆ ChatGPT failed miserably in Singapore's 6th-grade tests, averaging 16% for math and 21% for science. Days later, it was getting answers right.
▼ + stars: | 2023-02-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

OpenAI's ChatGPT failed math and science tests that sixth-graders in Singapore take. It made errors in simple addition and could not comprehend any diagrams, per The Straits Times. It scored an average of 16 out of 100 marks for the three mathematics papers it took, per The Straits Times. ChatGPT fared a little better at the science papers, getting an average of 21 out of 100 marks. But on Monday, when Insider tested ChatGPT on two PSLE science questions — one from 2020 and another from 2022 — it got both questions right.

☆ StanChart’s takeover defences are getting stronger
▼ + stars: | 2023-02-16 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

This year, he reckons the bank will churn out a near-10% return, rising to more than 11% in 2024. But if Winters can convince investors his new targets are remotely plausible, he’ll have a stronger case for StanChart’s independence. A typical offer pitched 30% above the price before the latest takeover speculation would value StanChart at just three-quarters of forward tangible book value. StanChart’s stronger takeover defences may be a problem for its suitors. StanChart earned an 8% return on tangible equity (ROTE), excluding restructuring expenses and a writedown of goodwill on the bank’s balance sheet.

☆ Banning TikTok in the US 'should be looked at,' says Chuck Schumer
▼ + stars: | 2023-02-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —A proposal to ban TikTok in the United States “should be looked at,” according to US Senator Chuck Schumer. “We do know there’s Chinese ownership of the company that owns TikTok. TikTok is owned by ByteDance, one of the most valuable private companies in China. US officials have raised concerns that China could use its laws to pressure TikTok or ByteDance to hand over US user data that could be used for intelligence or disinformation purposes. Those worries have prompted the US government to ban TikTok from official devices, and more than half of US states have taken similar measures, according to a CNN analysis.

☆ In Beijing's backyard, U.S. demonstrates its military might
▼ + stars: | 2023-01-27 | by ( Joseph Campbell | ) www.reuters.com time to read: +3 min

We're going to do that safely and we're going to be resolute about that," Sweeney told Reuters on Friday. China claims historic jurisdiction over almost the entire South China Sea, which includes the exclusive economic zones of Vietnam, Malaysia, Brunei and the Philippines. The Nimitz Carrier Strike Group 11 includes the guided-missile cruiser Bunker Hill and the guided-missile destroyers Decatur, Wayne E. Meyer and Chung-Hoon. Sweeney said it was crucial for international rules to be followed and said the U.S. presence in the South China Sea demonstrated its commitment to its regional allies. "We're going to sail, fly and operate wherever international waters allow us to, so we're not going anywhere."

☆ The Offshore Oil Business Is Gushing Again
▼ + stars: | 2023-01-21 | by ( Bob Henderson | ) www.wsj.com time to read: 1 min

The $1.2 billion Deepwater Titan sat idle in a Singaporean shipyard for five years, looking like an abandoned cruise ship with a derrick attached to its deck. Soon this vessel that spans nearly three football fields will depart for the deepest waters of the Gulf of Mexico, where its crew will be able to drill 8 miles below the seafloor in search of oil for Chevron Corp. The hunt for offshore petroleum is on again, fueled by a surge in global demand for energy, supply disruptions triggered by the war in Ukraine and crude prices that remain above prepandemic levels. Other giant rigs such as Titan that were dormant near the end of the last decade are also now operating in deep waters along the coast of Brazil, while rigs lacking propulsion are mining shallower waters in the Middle East after hitching rides to that part of the world on tugboats.

☆ Who is Shou Zi Chew? Mounting scrutiny on TikTok could put new spotlight on its CEO
▼ + stars: | 2023-01-20 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

Months later, when TikTok was grilled by Congress over privacy and security concerns, Pappas was the TikTok executive in the hot seat fielding questions. But Chew, who took over as TikTok CEO in April 2021, has largely stayed out of the spotlight at a time when the app he leads can’t seem to avoid it. He eventually went on to become the CFO of Chinese tech giant Xiaomi, which he helped take public in 2018. While Chew is not a Chinese national, Quint noted Chinese tech companies and leaders that have drawn too much attention to themselves have faced tough government crackdowns. Ultimately, Quint said, “I don’t think the CEO of TikTok has much relevance at all” for US lawmakers scrutinizing its ties to China.

The Sundance Film Festival has long been known for premiering some of the most original — and ultimately the most award-winning — indie titles of the year. As the most notable international film festivals increasingly feature queer titles in their lineups, it’s no surprise that much of the exciting content premiering at this year’s Sundance Film Festival comes from LGBTQ filmmakers or features queer themes. The Premieres sectionAs usual, many of the year’s most high-profile films, including those from queer creators and featuring queer storylines, are coming out of the festival’s Premieres section. Courtesy of Sundance InstituteEnglert’s film will screen in the world cinema dramatic section alongside queer films “Girl,” from U.K. filmmaker Adura Onashile, and “Mamacruz,” from Spanish director Patricia Ortega. The list of LGBTQ creators and titles doesn’t end there, making this perhaps the most significant Sundance Film Festival for queer cinema yet.

☆ StanChart suitors track banking’s flighty fortunes
▼ + stars: | 2023-01-06 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

But one reliable rule of thumb is that Standard Chartered (STAN.L) will be the subject of periodic bouts of takeover speculation. The latest prospective suitor, First Abu Dhabi Bank (FAB.AD), reflects the shifting fortunes of global banking. Under UK rules, First Abu Dhabi cannot make an offer for StanChart for six months, unless another bidder emerges. The Abu Dhabi lender said it had been in “the very early stages of evaluating a possible offer” for the emerging markets-focused bank. Standard Chartered declined to comment.

☆ Singapore is set to hike its goods and services tax in January. Here's how it will work
▼ + stars: | 2022-12-29 | by ( Natalie Tham | ) www.cnbc.com time to read: +6 min

Singapore's goods and services tax will be raised to 8% in January 2023. Ore Huiying | Bloomberg | Getty ImagesCome Jan. 1, Singapore will raise its goods and services tax, otherwise known as the GST, from 7% to 8%. The GST is a consumption tax imposed on nearly all goods and services in Singapore. With the change, all goods and services imported into Singapore, including imported goods purchased online, will be subject to the tax. Economists who spoke to CNBC held conflicting views on whether the tax hike will hit the nation's lowest earners harder than others.

Like many residents, he's been on a spree - because on Jan. 1 Singapore's sales tax goes up for the first time in 15 years. From next year, the sales tax on everything from groceries to diamond rings goes from 7% to 8%. By buying everything now before the hike, Soif said he's saving S$250 ($185) on his purchases, now in storage at retailers' facilities. The upbeat spending comes against a backdrop of concern, and some opposition, among the population about the tax hike. It has also said it would review the second step of the tax hike if there was a major global downturn next year.

☆ The Asian nation where 35% of people say they’ll 'never travel' again
▼ + stars: | 2022-12-19 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +7 min

Yet, no country came close to the travel reluctance shown in Japan, where some 35% of respondents said they don't intend to travel again. The survey asked about "any leisure travel" and did not differentiate between domestic or international travel plans, said Lindsey Roeschke, a travel and hospitality analyst at Morning Consult. The number of people who say they'll "never travel" again is nearly six times greater in Japan (35%) than in Germany (6%), according to Morning Consult's "The State of Travel & Hospitality" report. We expect to see a return to the pre-2020 demand for international travel sooner rather than later. The British artist known as Miles Takes told CNBC Travel that "international travel still seems a while away" for him.

☆ Asian FX bulls return as easing China COVID curbs improves outlook - Reuters poll
▼ + stars: | 2022-12-15 | by ( Upasana Singh | ) www.reuters.com time to read: +4 min

Long positions on most other emerging Asian currencies also firmed, with those on the Malaysian ringgit and South Korean won at around two-year highs, a fortnightly poll of 10 analysts showed. Elsewhere, sentiment on China's yuan was mostly neutral, while investors turned bullish on the Philippine peso for the first time since July 2021. Long positions on the Thai baht were at their highest level since late February, while those on the Singaporean dollar were highest since early February. A turnabout of that impulse should benefit high-beta, risk-sensitive and commodity-linked FX," Barclays' analysts wrote in a note. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.

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