Apple has agreed to pay $490 million to end a class-action lawsuit accusing its CEO of misleading investors with a false assurance about demand for iPhones in China. The suit was sparked by Apple’s unexpected announcement on Jan. 2, 2019, that the company planned to cut its quarterly revenue forecast by as much as
Photo shows the headquarters of the People’s Bank of China. (Xinhua/Cai Yang) China’s yuan-denominated loans rose by 6.37 trillion yuan (899.8 billion U.S. dollars) in the first two months of this year, maintaining a relatively fast growth momentum, central bank data showed Friday. China has been adopting proactive monetary policies and intensifying macro-control since the
By Samuel Shen and Summer Zhen SHANGHAI/HONG KONG (Reuters) – China’s computer-driven “quant” hedge funds are beefing up risk management and retooling their portfolios to conform to the state’s definitions of fair play, as regulators clamp down on the $260 billion sector to revive retail investor confidence. Hedge fund Leon Capital said it will monitor
The Enforcement Directorate has filed a chargesheet under anti-money laundering laws against 299 entities, including 10 individuals of Chinese origin. This action follows an investigation into allegations of defrauding investors through schemes involving mining cryptocurrencies like Bitcoins, stated the ED. The ED stated that a special court in Dimapur, Nagaland, has acknowledged the prosecution complaint filed
Chinese workers stand in front of the Eiffel tower replica at Tiandu Cheng, a Parisian-themed … [+] resident development. (Photo by Jackson Lowen/Construction Photography/Avalon/Getty Images) Getty Images Not many days ago, rumors surfaced about Beijing’s grand plans to take over huge swatches of China’s residential property market. If Beijing were to go this route, it
New Delhi: A majority of World Trade Organization (WTO) members rejected the China-backed group’s proposal on investment facilitation for development, saying it could only be done by consensus, some non-government advocacy groups have said. This vindicates the stand of India and South Africa against any such move that is not on the table at WTO
The stellar rally in Indian equities that’s made them an investor favorite has run into headwinds that go beyond elevated valuations. Earnings misses, the attractiveness of rival markets amid expectations of a dovish policy shift by the Federal Reserve and a nascent recovery in Chinese equities are casting doubts over India extending a rally that
A man walks past the People’s Bank of China (PBOC) building on Dec. 25, 2023 in Beijing, China. China’s central bank left a key policy rate unchanged as expected on Sunday when rolling over maturing medium-term loans, with uncertainties around the timing of an easing by the Federal Reserve limiting Beijing’s room to maneuver on monetary
Persson is currently the richest person in Sweden and the 116th richest in the world, with a net worth of US$16 billion, per the Bloomberg Billionaires Index. His father, Erling Persson, founded a women’s clothing store called Hennes in 1947, which later became Hennes & Mauritz (H&M). Stefan joined the company as head of UK
Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. Bloomberg | Bloomberg | Getty