NXP Semiconductors NV and Vanguard International Semiconductor Corp., a Taiwan Semiconductor Manufacturing Co. affiliate, are planning to expand their $7.8 billion chip plant in Singapore. This move aims to diversify chip production amid rising US-Chinese technology tensions. NXP's Executive Vice President Andy Micallef confirmed that discussions for a phase two expansion are underway, although formal approval is still pending.
UBS France's head, Régis Turrini, is on trial for allegedly harassing whistleblowers who exposed the bank's role in tax evasion. The case involves claims of reduced bonuses and retaliation against former auditor Nicolas Forissier and event specialist Stéphanie Gibaud. If found guilty, UBS could face a fine of up to 75,000 euros.
07:18 04.12.2024
Norway's sovereign wealth fund, the largest in the world, has divested all its shares in Israel's Bezeq. The decision follows concerns over the company's provision of telecom services to Israeli settlements in the occupied West Bank.
Citigroup Inc. is facing potential losses of up to A$41 million ($26 million) after struggling to sell a block of shares in Australia’s Goodman Group, which it underwrote for China’s sovereign wealth fund. The bank initiated the sale of 50.4 million Goodman shares at a floor price of A$37.55, reflecting a slight discount of 1.5% from the previous close of A$38.12.
Seven & i Holdings Co. is pursuing a ¥9 trillion ($60 billion) management buyout that will include an IPO for its North American convenience stores and gasoline stations. This move aims to alleviate financing concerns amid a competing ¥7.1 trillion offer from Alimentation Couche-Tard Inc. The Ito family is working to formalize their proposal while planning to use the IPO proceeds to repay loans from three major Japanese banks involved in the buyout.
DBS, Singapore's largest bank, is expanding its services for Russian clients by hiring client advisors from Swiss banks, including Credit Suisse and Julius Baer. With a minimum asset requirement of USD 20 million, DBS has become a key player for Russian clients in Asia, capitalizing on higher fees and a more lenient regulatory environment compared to Swiss banks, which face stricter sanctions. As a result, over one billion dollars in Russian assets have reportedly shifted to DBS since the onset of the Ukraine conflict.
Thomas Koch, Sales Manager at Raiffeisen Bausparkasse for 22 years, highlights the dynamic nature of sales, achieving over 6.5 million home loan and savings contracts. Despite current challenges in real estate financing, he remains optimistic about a market recovery by 2025, emphasizing the importance of expertise and digital solutions in navigating complexities.
07:10 04.12.2024
Daniel Raemy, with extensive experience in private banking, partnered with Panattoni to establish the Newport Logistics Fund, focusing on high-quality logistics properties across Europe. Since its inception, the fund has successfully invested in eight projects, with Fund III launched in September 2024, targeting 300 million euros in equity for at least ten new logistics developments. Investors can expect a competitive yield of 15 percent net per year, benefiting from a robust market position and strategic partnerships.
The European Investment Bank is lending Sateliot €30 million to expand its low Earth orbit network with 16 additional nanosatellites by 2025. The Spanish startup has secured €45 million in a Series B funding round, aiming for a total of €70 million, and plans to deploy 250 satellites for global connectivity, targeting markets like agriculture and mining. Despite funding delays, Sateliot has signed agreements covering nine million devices across 50 countries, projecting over $250 million in annual recurring revenue.
Qatar has announced a £1 billion investment in climate technologies in partnership with the UK, aimed at enhancing cooperation in financial services and promoting economic growth. The funds will support start-ups in both nations focusing on energy efficiency, carbon management, and green power. This initiative follows a two-day state visit by the Emir of Qatar to Downing Street, hosted by British Prime Minister Keir Starmer.
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