Business

U.S. says Nvidia-Arm deal harms market for networking, self-driving car chips

(Reuters) – The U.S. Federal Trade Commission (FTC) on Monday argued that competition in the nascent markets for chips in self-driving cars and a new category of networking chips could be hurt if Nvidia Corp carries out its $80 billion purchase of Arm Ltd.FILE PHOTO: A NVIDIA logo is shown at SIGGRAPH 2017 in Los […]

Business

Dow climbs over 1% on cyclical boost; Nvidia weighs on Nasdaq

(Reuters) -The Dow rallied over 1% on Monday as economy-linked banks and energy stocks roared back after sharp declines in the previous week, while Nasdaq struggled to keep pace as Nvidia dragged down chipmakers.Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2021. REUTERS/Brendan McDermidBlue-chip […]

Business

Finance Watch: A new era in wealth management beckons

SINGAPORE – One of the biggest challenges – and opportunities – facing the wealth management industry, especially in Asia, is the transfer of inter-generational wealth. As the first-generation creators of wealth reach retirement age, they are starting to restructure their asset holdings. This will add complexity to the wealth management marketplace, says Bank of Singapore […]

Business

Ikea opening here: NZ debut at Kiwi Property Group site, Auckland’s Sylvia Park

Swedish furniture and homeware giantIkea is opening at Mt Wellington’s Sylvia Park. Two years after announcing it would open here,it has just announced an agreement to buy land at New Zealand’s biggest shopping centre, owned by NZX-listed Kiwi Property Group at Mt Wellington, Auckland. Mirja Viinanen, chief executive officer and chief sustainability officer for Ikea […]

Business

Westpac to likely pay $110.5m for charging dead people, other breaches

BENGALURU (REUTERS) – Westpac Banking Corp said on Tuesday (Nov 30) it will likely be fined A$113 million (S$110.3 million) for alleged compliance failures across its business over many years, including charging financial advice fees to thousands of dead customers. Australia’s No. 3 lender admitted to six civil penalty proceedings filed by the country’s securities regulator, […]

Business

The big KiwiSaver transfer: 230,000 members expected to change providers

Around 230,000 KiwiSaver default scheme members are due to have their details passed to a new provider in the next week but their savings could take until February to catch up. On Wednesday five providers – ANZ, ASB, AMP, Fisher Funds and Mercer – who lost their default status as part of a government tender […]

Business

Firms are paying up to deal with Hong Kong's Covid-19 quarantine rules

HONG KONG (BLOOMBERG) – Companies including JPMorgan Chase are stepping up to compensate employees ensnared by Hong Kong’s strict quarantine regime as businesses in the city struggle to retain and recruit staff almost two years into the Covid-19 pandemic. As most of the rest of the world is opening up, including rival financial hubs such as […]

Business

Fran O’Sullivan: Judith Collins may yet have last laugh on Simon Bridges

OPINION: It’s no accident that Judith Collins reached for the nuclear option on Wednesdaynight to thwart an imminent challenge that would have paved the way for Simon Bridges to become National’s leader. Bridges wasn’t directly fronting the campaign to unseat Collins, although he was certainly stoking uncertainty by the manner in which he was engaging […]

Business

Google blinks first in 11-month privacy showdown with UK regulator

The UK markets watchdog said on Friday it had secured additional commitments from Google in its 11-month-long tussle over the technology giant’s privacy plans. In January, the Competitions and Markets Authority (CMA) launched an investigation in to Google’s plans to remove third-party tracking cookies from Chrome, the most used desktop web browser in the world. […]

Business

China Evergrande soccer stadium taken over by government: Source

HONG KONG (REUTERS) – A government body has taken over China Evergrande Group’s soccer stadium with a view to selling it, a person with direct knowledge of the matter told Reuters, as the debt-laden property developer scrambles to meet liabilities. Evergrande, which has been struggling to meet repayments on over US$300 billion (S$410 billion) in […]