January, 2021

• 25 January

  And blockchain brings unicorns to millennials

  Why should only the wealthy get to ride unicorns to further riches? Privately held firms with at least $1 billion in value come with daunting price tags that freeze out ordinary investors. Banks that help unicorns raise money are glad to chalk up a few bulky subscriptions — $1 million and more — from top clients. It works fine with ...

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• 25 January

  Samsung considers $10bn chipmaking plant in Texas

  

  Bloomberg Samsung Electronics Co is considering spending more than $10 billion building its most advanced logic chipmaking plant in the US, a major investment it hopes will win more American clients and help it catch up with industry leader Taiwan Semiconductor Manufacturing Co. The world’s largest memory chip and smartphone maker is in discussions to locate a facility in Austin, ...

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• 25 January

  Tencent in talks with banks for a $6b loan

  

  Bloomberg Tencent Holdings Ltd, the creator of the messaging platform WeChat, is in talks with banks for a $6 billion loan, according to people familiar with the matter. That would be the biggest dollar loan syndicated in Asia for a Chinese firm since 2019, according to data compiled by Bloomberg. It would also mark a flurry of potential debt financings ...

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• 25 January

  Hong Kong Life’s owners revive sale after failed deal

  Bloomberg The owners of Hong Kong Life Insurance Ltd are reviving a sale of the business after a deal was scrapped more than two years ago, according to people familiar with the matter. A sale of Hong Kong Life, whose owners include OCBC Wing Hang Bank Ltd, could fetch $400 million to $500 million, the people said, asking not to ...

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• 25 January

  Ambani’s Reliance doubles down on 5G pledge after record profit

  Bloomberg Indian billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd reported a record profit aided by its consumer businesses. The group’s wireless operator, Reliance Jio Infocomm Ltd — India’s largest — has started advance tests to prepare the fifth-generation, high-speed network, ...

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• 25 January

  Indian cement firm doubles profit on demand

  Bloomberg UltraTech Cement Ltd doubled profit in the three months ended on December 31 on sustained demand for housing, the company said in a statement. Net income jumped to 15.8 billion rupees ($217 million) from 7 billion rupees a year earlier, beating analyst estimates, the unit of billionaire Kumar Mangalam Birla’s Aditya Birla Group said in an exchange filing. “While ...

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• 25 January

  Indonesia sees risks to growth on virus curbs, disasters

  

  Bloomberg Indonesia sees downside risks for economic growth in the first quarter as the government imposed more restrictions to curb a worsening coronavirus outbreak, said the finance minister. The first quarter is “very tough,” Finance Minister Sri Mulyani Indrawati said in an interview with Bloomberg Television. “We hope in February and March we can still catch up despite the January ...

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• 25 January

  US urges China to cease pressure against Taiwan

  

  Bloomberg The US State Department urged China to engage in dialogue with Taiwan’s democratically elected representatives and cease putting military, diplomatic and economic pressure on the island. The US statement came as Taiwan said a fleet of 13 Chinese military planes, including eight H-6K bombers, entered its air defense identification zone, in an apparent stepping up of Beijing’s almost constant ...

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• 25 January

  Biden, Johnson discuss ways to boost US-UK ties

  

  Bloomberg UK Prime Minister Boris Johnson became the first European leader to speak with US President Joseph Biden since his inauguration in a phone call that focused on ways to strengthen bilateral ties, collective defense and fight climate change. Biden pledged to work closely with Johnson as the UK hosts both the G-7 and the United Nations Climate Change conference ...

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• 25 January

  Italian PM resists pressure to quit as senate vote looms

  Bloomberg Italian Prime Minister Giuseppe Conte is resisting pressure to resign in the run-up to a critical vote in the Senate that could topple his fragile administration, newspapers said. While the premier isn’t currently planning to quit, he may change his mind if he fails to recruit enough senators ahead of a vote on Wednesday or Thursday to approve the ...

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