International
Headlines
America still leads in technology, but China is catching up fast
A RARE THING happened in an industrial park near Washington, DC, last November. Construction began on a $3bn extension to a semiconductor foundry owned by Micron Technologies, a maker of advanced memory chips, based in Idaho. “A few years ago, opening that sort of extension would have people saying, well, that is going to be moving to China soon,...
Approach Art Investment like a VC to make a profit
If you decided at this very moment to invest in your first work of art, how would you start? You might begin by walking into a gallery in search of an expert, or you might go online to gain an understanding of the kind of works that are appreciating in value. Yet for all that you might research, art is still seen by many as an emotional investment,...
“Flanker” banks are seeking to combine the old and new
AT THE ENTRANCE of the glass-and-chrome headquarters of Bank Leumi in Tel Aviv, look left and you will see Mani House, one of the city’s oldest buildings. From a balcony peers a statue of Theodor Herzl, the Zionist leader known as the Father of Israel. The marriage of historical and modern is fitting for Israel’s oldest bank, established before...
How Singapore’s incumbent banks are preparing for competition
IN 2014, AS ALIBABA was preparing to list in New York, Piyush Gupta, the chief executive of DBS, Singapore’s biggest bank, was watching with growing alarm. Together with his bank’s chairman, Peter Seah, he arranged a meeting with Jack Ma, Alibaba’s founder, and Joseph Tsai, then its chief financial officer. “I walked away scared out of my wits...
In South-East Asia, Grab and Gojek bring banking to the masses
BOTH WERE founded by Harvard Business School graduates, from the same year. Both have apps that have been downloaded more than 100m times. Both started with ride-hailing and expanded into other logistics businesses, such as deliveries and food-ordering. The story of two South-East Asian “deca-unicorns”—fintechs valued above $10bn—is usually...
Finance
Trump Accuses Europe of Bolstering Its Economy at America’s Expense
WASHINGTON — To President Trump, economics has always been a zero-sum game: If another country is winning, the United States must be losing.That view became clear on Tuesday, when Mr. Trump accused the European Central Bank of trying to prop up Europe’s economy and weaken its currency to gain a competitive edge over the United States.Mr. Trump directed...
Global Economic Growth Is Already Slowing. The U.S. Trade War Is Making It Worse.
WASHINGTON — President Trump’s trade war is chilling business investment, confidence and trade flows across the world, a development that foreign leaders and business executives say is worsening a global economic slowdown that was already underway.Recent softening in Europe, Australia and other parts of the world coincides with Mr. Trump’s intensified...
Google Pledges $1 Billion to Ease Bay Area Housing Crisis
SAN FRANCISCO — Google pledged $1 billion worth of land and money on Tuesday to build affordable housing in the San Francisco Bay Area, the latest effort by tech industry leaders to address housing shortages near their headquarters.Sundar Pichai, Google’s chief executive, said in a blog post that the company planned to repurpose at least $750 million...
In Japan, It’s a Riveting TV Plot: Can a Worker Go Home on Time?
TOKYO — Last month, as Americans tuned in to the final episode of “Game of Thrones,” Japan was indulging in its own television fantasy world.In this one, a woman dares to leave work at 6 p.m. sharp.The determination of Yui Higashiyama, a 30-something project manager who wants nothing more than to get out of the office and into her favorite bar...
Recession Fears Grow in Europe and E.C.B. Signals Increase in Stimulus
SINTRA, Portugal — The European Central Bank is poised to step up its stimulus to the eurozone economy in response to international tensions and the trade war, Mario Draghi, the bank’s president, signaled Tuesday in his strongest indication yet of concern about the global economy.The stimulus could include an increase in purchases of government...
Legal
DOJ Pursues More Electronic Health Records Cases
On May 31, 2019, the U.S. Attorney for the District of Kansas announced a $250,000 settlement with Coffey Health System, after two whistleblowers filed qui tam suit against Coffey for violations of the False Claims Act. The settlement resolved allegations that Coffey submitted false claims to Medicare and Medicaid pursuant to the Electronic Health Records...…...
Fugitive Diamantaire Faces Extradition from UK to India
A UK court recently fixed a remand hearing in the extradition case of Nirav Modi, a fugitive diamond merchant and the prime accused in a USD 2 billion Punjab National Bank (PNB) fraud case. After Vijay Mallya (Indian businessman) and Sanjeev Chawla (alleged cricket bookie), Mr. Modi’s case is the third in a series of...… Continue ReadingRead...
Lax Data Security Leads to $3 Million Fine
Another example about the costs of lax data security involves a medical imaging company in the U.S. The company did not perform a risk analysis and failed to respond properly when alerted to problems. See the full post here on the Triage blog.… Continue ReadingRead More
Russian Duma Revisits Criminalization as Counter-sanction
Russian Duma Revisits Criminalization as Counter-sanction The Russian Duma is considering a bill that would prohibit media communications that reveal non-compliance with sanctions or facilitate imposition of sanctions and would also impose criminal penalties on those that disclose or transfer information to organizations “directly or indirectly”...
OFAC Compliance Guidelines
Five months after Sigal Mandelker, Under Secretary of the US Treasury for Terrorism and Financial Intelligence, presented five of the hallmarks of an effective sanctions compliance program, the Office of Foreign Assets Control (OFAC) has finally published long-awaited guidance for national and international organizations subject to its regulation...
Deals
Uber to acquire Careem to expand the greater Middle East regional opportunity together
Careem to become a wholly-owned subsidiary of Uber, operating as an independent company under the Careem brand and led by Careem foundersOpportunity for both companies to rapidly expand and capitalise on the region’s underpenetrated mobility opportunity and growing digital economy Transaction would be largest-ever technology industry transaction...
Litigation funding to double in five years as asset class becomes mainstream
Litigation funding is undeniably becoming a mainstream asset class with the market set to double in the next five years. This is the prediction from Dilip N Massand of Legal Ventures, a UAE based fund by Phoenix Advisors that specialises in emerging markets. It is backed by Dalma Capital, a leading alternative investment manager. Litigation ...
Offshore deal value jumps usd 100 billion in 2018
Record 196 offshore IPOs completed over course of the year, Appleby reports The total value of offshore M&A deals rose by a massive 47% in 2018 when compared to the previous year, driven in part by a surge in megadeals each valued at USD 5 billion or more, according to a report released today by offshore law firm Appleby. The latest edition of...
EMEA Deal Drivers in 2018
This exclusive and comprehensive report presents an in-depth review of all M&A activities across Europe, the Middle East and North Africa (EMEA), with analyses of specific geographical regions and market sectors. It also identifies key trends set to develop over the course of 2019. The report key highlights include: 2018 saw uneven progress for M&A,...
Intralinks® Deal Flow Predictor for Q2 2019
The number of announced M&A deals in Europe, the Middle East & Africa is forecast to fall by around 1 percent year-over-year during the first six months of 2019, with the Real Estate, Energy & Power and Materials sectors in Southern Europe and the Middle predicted to lead growth, according to the latest issue of the Intralinks Deal Flow Predictor. Along...
Acq Lite
At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners
EDITOR’S NOTE: This news is courtesy of iCopyright, so GNN has no control over the ads. Please remember we do not endorse the advertisements. The post At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners appeared first on Good News Network. Read More
Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives
Six lives were saved at a hospital this week, and it is all thanks to one woman's decision to “be selfless for a day”. The post Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives appeared first on Good News Network. Read More
10 Things I Wish I Would Have Told My Kids
Mindfulness is the ability to pay attention to your current experience—both the internal and external—without judgment. Practicing mindfulness allows us to make wiser choices and pursue healthier and more beneficial avenues in life. Had I learned them earlier in life, I would have taught my kids the valuable life lessons that I’ve gleaned from...
DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive
The nurse was stationed at his medical outpost 100 miles away from the nearest hospital when he realized that he was about to have a heart attack. The post DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive appeared first on Good News Network. Read More
Daily Dose of Cute: Dachshund Shows Off Skills by Maneuvering Maze of Plastic Water Bottles
If you’re mourning the end of the Winter Olympic Games in Pyeongchang, you might like these games of skill involving a long-haired Dachshund. Takao showed off his thinking abilities earlier this week when he successfully maneuvered a maze of plastic water bottles that was erected by his owner. In the videos posted to his Instagram page, the...