Goldman Sachs is cautious on Chinese tech behemoth Tencent Holdings , removing it from its Asia-Pacific “conviction list” of top picks. The company was added to the U.S. Department of Defense’s list of “Chinese military companies” on Jan. 7. That means that the government body will be prohibited from procuring goods or services directly from entities in the list in June 2026, and indirectly from June 2027, according to the National Defense Authorization Act for fiscal year 2024 . Goldman also removed Japan’s Sumitomo Mitsui Financial Group and China’s Sungrow Power Supply from its Asia conviction list for January, and added…
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A view of Damac logo in Dubai city center. February 10, 2018, Dubai, United Arab Emirates.Artur Widak | NurPhoto via Getty ImagesDUBAI, United Arab Emirates — The sky’s the limit when it comes to Dubai property giant Damac’s investment in the United States, the company’s chairman told CNBC on Thursday.Two days prior, President-elect Donald Trump announced a $20 billion foreign investment by the Emirati company to build new data centers across the U.S. — adding that its founder and chairman Hussein Sajwani was pledging “at least” that amount.Asked by CNBC’s Dan Murphy if he would eventually invest more in the U.S., Sajwani…
On-the-go food retailer Greggs posts 2.5% rise in like-for-like fourth quarter salesBritish baker and on-the-go food retailer Greggs on Thursday reported that like-for-like sales rose 2.5% in the fourth quarter of 2024, which it said was reflective of a “more subdued High Street footfall.””Trading performance reflected a well publicised more challenging market backdrop in the second half of 2024,” the company noted in a trading update.Across the full year 2024, Greggs’ total sales rose above £2 billion ($2.45 billion) for the first time, the company said, climbing 11.3%. That, however, fell short of expectations, with analysts having forecast a 12.2%…
An Israeli reservist left Brazil in a hurry this week after a Brazilian judge ordered an investigation into whether he committed war crimes in Gaza.Israeli consular officials helped the soldier, Yuval Vagdani, fly out of the country on Sunday after the order became public. It was prompted by a criminal complaint filed by a Belgium-based non-profit group, the Hind Rajab Foundation, which “focuses on offensive legal action against perpetrators, accomplices, and inciters of war crimes and crimes against humanity in Palestine.” On Wednesday, the Israeli military announced that it would no longer identify soldiers by name in the media, “fearing…
Elon Musk’s plan to host a chat with the leader of the Alternative for Germany (AfD) party on his X social media platform has angered European politicians— but they’ll struggle to stop him.The tech billionaire is set to speak on Thursday with Alice Weidel, head of the AfD — Germany’s far-right party. It is currently polling second ahead of general elections on Feb. 23 on a platform that includes “defending freedom of speech,” tighter asylum laws, ending financial support for asylum seekers, and the reversal of planned restrictions on combustion engine cars among other points.Despite the party’s classification as a…
Former Goldman Sachs executive Ayesha Ofori was confident that investors would be keen to fund her investment platform startup — then came the wall of rejections.Some of the venture capitalists who gave the cold shoulder to Ofori’s female-focused financial investment platform, Propelle, ultimately rejected her, citing her lack of experience. Ofori notes her background at Morgan Stanley, Goldman Sachs and her MBA from London Business School. “Fundraising is phenomenally difficult,” Ofori told CNBC. “I try not to think about it, because it gets you down… It’s like your gender and the color of your skin is the reason why you’re not progressing as fast as…
A man looks in the window of a money changer showing the rate of various currencies against the Japanese yen, along a street in central Tokyo on April 29, 2024. Richard A. Brooks | Afp | Getty ImagesCentral banks in Asia face a catch-22 in 2025.A relentless rise in the U.S. dollar has sent Asian currencies such as the Japanese yen, South Korean won, Chinese yuan and the Indian rupee reeling to multi-year lows against the greenback.While a cheaper currency could in principle make exports competitive just as President-elect Donald Trump threatens to impose tariffs, central banks in Asia would need…
Singapore has the world’s most powerful passport, according to the 2025 Henley Passport Index.The nation-state was one of six countries which tied for the top spot in 2024 in the list produced by the migration consultancy Henley & Partners, which ranks passports by the number of destinations that holders can access without needing a visa.Singapore broke ahead of the other five countries — Japan, Germany, Italy, Spain and France — with its citizens granted visa-free access to 195 out of 227 global destinations, according to the ranking published Wednesday.Japan is ranked No. 2, with visa-free access to 193 spots, while…
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LOS ANGELES, CA – SEPTEMBER 24, 2024 – Hundreds of Los Angeles County SEIU 721 members rally to announce overwhelming support for an Unfair Labor Practice (ULP) strike authorization vote during a rally in front of the Kenneth Hahn Hall of Administration in downtown Los Angeles on September 24, 2024. Dozens of SEIU 721 county workers shut down a Board of Supervisors meeting for several minutes inside the Hall of Administration. “We have had it with LA County’s attempts at union busting and we are ready to strike,” said SEIU 721 President David Green, a Children’s Social Worker with the…
