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September23
Wework, Wewait, Weworry
SoftBank has lost faith in Adam Neumann’s ability to lead WeWork and is expected to call for a board meeting to demote him as early as this week, after the lossmaking property group shelved its initial public offering and the chief executive’s volatile behaviour and drug use came to light.
China Sovereign Wealth Fund Recorded 2.35% Loss in 2018
China Investment Corp. (CIC), the nation’s $941 billion sovereign wealth fund, reported a disappointing investment return for last year amid turbulence in global stock markets. The fund reported a 2.35% loss on overseas investments in 2018, a stark contrast to a 17.5% gain a year earlier.
HKEX has roped in UBS to help court LSE investors
Hong Kong Exchanges & Clearing Ltd. has started working with UBS Group AG as it begins its charm offensive to convince London Stock Exchange Group Plc investors on the merits of its takeover bid, people familiar with the matter said.
Ikea pumping coin into China
Ikea is making its biggest annual investment in China, ploughing more than $1.4bn into an expansion drive over the next year after a sharp slowdown in sales growth in the country.
Amazon for everything
Ever since Amazon.com Inc. bought Whole Foods in 2017 for $13.7 billion, shoppers and investors alike have wondered how the e-commerce giant would integrate the upscale grocer into its sprawling online operation. Now, after two years of tinkering, Amazon is betting big on quick delivery from Whole Foods.
China’s subways adopt facial recognition technology
The southern Chinese city of Shenzhen has launched a facial recognition system for entry to its subway system, joining a number of other centres throughout the country embracing the technology
Google claims to have reached quantum supremacy
Google claims to have built the first quantum computer that can carry out calculations beyond the ability of today’s most powerful supercomputers, a landmark moment that has been hotly anticipated by researchers.
New Reference Rate for Bank Loans Edges Down
The national interest rate that Chinese banks now use as a reference for pricing one-year loans edged down 5 basis points to 4.2%, official data showed Friday.The drop in the one-year national loan prime rate (LPR) met market expectations for a rate reduction to help lower businesses’ borrowing costs amid an ongoing economic slowdown.
Jeremy Corbyn accused of stifling Brexit debate
Labour leader Jeremy Corbyn has been accused by Remain campaigners of trying to crush dissent by seeking to prevent any substantial Brexit debate during the party’s annual conference in Brighton
China, U.S. Upbeat on Trade Talk Progress
China and the U.S. struck a positive tone on the outcome of official mid-level trade negotiations this week, even as U.S President Donald Trump said he was in no hurry to strike a trade agreement and wanted a comprehensive pact rather than a smaller interim deal.
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Open Banking Development Drives Data-sharing in China

Open banking is the latest fintech trend in China. Led by the newly emerged digital-only private banks, the trend is also expected to bridge the data gap between conventional banks and digital tech companies.

Tracey Xiang

Open Banking Development Drives Data-sharing in China

Tracey Xiang

Open banking is the latest fintech trend in China. Led by the newly emerged digital-only private banks, the trend is also expected to bridge the data gap between conventional banks and digital tech companies.

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