Sam Bankman-Fried—Convicted Fraudster And Disgraced FTX Mogul—Sentenced To 25 Years In Prison
forbes.com/sites/zacharyfolk/2024/03/28/sam-bankman-fried-convicted-fraudster-and-disgraced-crypto-mogul-faces-prison-sentencing-today/
Quick Glance: Sam Bankman-Fried's Verdict: 25-Year Prison Term - BBC News
- Sam Bankman-Fried received a 25-year prison sentence. Key details from the court hearing in New York were summarized, focusing on his defense lawyer's arguments and the judge's ruling.
- The judge criticized SBF's lack of remorse, noting that he had never expressed a word of regret for committing terrible crimes. Customers who lost money in the collapse reported experiencing nightmares.
- SBF admitted to making a series of poor decisions but claimed that customers could be reimbursed. The judge pointed out that the assertion that customers would be fully repaid through the bankruptcy process was misleading.
- The court hearing also included testimonies from customers who lost significant amounts of money, insights into SBF's background, and the reasons behind the collapse of his company FTX.
Country Garden, China's largest private property developer, delayed the publication of its 2023 financial results saying it needed to collect more information ... Show more
Alibaba Calls Off Cainiao’s IPO After Market Slump Worsens: Alibaba Group Holding Ltd. is calling off an initial public offering for its Cainiao logistics arm in ...
bloomberg.com/news/articles/2024-03-26/alibaba-calls-off-cainiao-s-ipo-after-market-slump-worsens
Chinese EV maker BYD targets 20% jump in annual sales - sources: Chinese electric vehicle maker BYD has set a 3.6- million-unit sales target for 2024 ...
reuters.com/business/autos-transportation/chinese-electric-vehicle-maker-byd-targets-20-jump-annual-sales-2024-03-27/
China's Xiaomi to enter cut-throat EV market for the first time: BEIJING: Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference ...
channelnewsasia.com/business/china-xiaomi-ev-car-market-4227246
China's BYD slows down plans for EV factory in Vietnam, industrial park says: Chinese electric vehicles maker BYD has slowed down its plans to build an EV ...
reuters.com/business/autos-transportation/chinas-byd-slows-down-plans-ev-factory-vietnam-industrial-park-says-2024-03-28/
China's distressed property developer losses start to pile up: HONG KONG -- The severity of the financial damage to China's distressed property developers ...
asia.nikkei.com/Business/Markets/China-debt-crunch/China-s-distressed-property-developer-losses-start-to-pile-up
Electromobility: Price war slows down Chinese electric car manufacturer BYD: In the past quarter, the Group grew more slowly than it has for almost two years ...
handelsblatt.com/unternehmen/industrie/elektromobilitaet-preiskampf-bremst-chinesischen-elektroautobauer-byd/100027957.html
Mumbai has overtaken Beijing as Asia's billionaire capital for the first time. asia.nikkei.com/Economy/Mumbai-becomes-Asia-s-billionaire-capital-topped-by-Mukesh-Ambani
China’s Biggest Airlines Post Loss on Slow International Return: China’s three biggest airline companies reported annual losses for 2023 as international traffic ...
bloomberg.com/news/articles/2024-03-28/china-s-biggest-airlines-post-loss-on-slow-international-return
Chip Escalation: The Bloomberg Open, Europe Edition: Good morning. The US is said to consider sanctioning Huawei’s chip network. Global attention turns to the ...
bloomberg.com/news/newsletters/2024-03-20/chip-escalation-the-bloomberg-open-europe-edition
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Live news: Princess Catherine undergoing treatment for cancer
ft.com/content/b1bf8de1-e4a0-42dd-a97f-4dd1f10852b5
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From @Breakingviews : BYD, the world's largest electric-vehicle maker, is driving down prices in China with aggressive discounts. Yet its top and bottom lines are ... Show more
How HSBC Transformed Its Customer Experience - SPONSOR CONTENT FROM HSBC: Sponsor content from HSBC.
hbr.org/sponsored/2024/03/how-hsbc-transformed-its-customer-experience
HSBC’s Top Tech Banker Winston Cheng Exits to Join Tech Firm: HSBC Holdings Plc’s global co-head of technology, media and telecom Winston Cheng is leaving the ...
bloomberg.com/news/articles/2024-03-25/hsbc-s-top-tech-banker-winston-cheng-exits-to-join-tech-firm
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Chinese TikTok sellers complain of under-fire platform tightening US rule enforcement
reuters.com/technology/chinese-tiktok-sellers-complain-under-fire-platform-tightening-us-rule-2024-03-27/
An AI-driven “factory of drugs” claims to have hit a big milestone: Insilico is part of a wave of companies betting on AI as the "next amazing revolution" in ...
technologyreview.com/2024/03/20/1089939/a-wave-of-drugs-dreamed-up-by-ai-is-on-its-way/
Quick Glance: UN adopts groundbreaking global AI resolution
- The resolution underscores the need for guidelines for safe, trustworthy AI systems and excludes military AI.
- It promotes the positive potentials of AI, calls for bridging digital divides and ensuring equitable access to achieve UN Sustainable Development Goals.
- The resolution was a step forward to address the promises and risks of AI, aiming to support developing countries.
- Concerns regarding negative impacts of AI on human rights and data protection are highlighted, emphasizing the need for responsible regulation of the technology.
China's BYD lowers starting price of new version of Seal electric sedan: China electric vehicle (EV) maker BYD on Monday lowered the starting price of a new ...
reuters.com/business/autos-transportation/chinas-byd-lowers-starting-price-new-version-seal-electric-sedan-2024-03-25/
BYD takes on EV laggards Toyota, VW with steep China price cuts: Not content with unseating Tesla Inc. as the world’s top-selling electric car maker, BYD Co ...
dailymaverick.co.za/article/2024-03-25-byd-takes-on-ev-laggards-toyota-vw-with-steep-china-price-cuts/
BYD’s new EV, starting at less than $10,000, is stoking fear across the industry: Leading EV maker BYD shook the industry after unveiling the new Seagull ...
electrek.co/2024/03/22/byds-new-ev-starting-under-10000-stoking-fear-rivals/
Shares in Australia, HK edges higher, while Japan, China stocks decline: Treasuries were mostly steady following a rally on Friday that wiped seven basis points ...
business-standard.com/world-news/shares-in-australia-hk-edges-higher-while-japan-china-stocks-decline-124032500376_1.html
Evergrande's liquidators say company, SJ and Tianji withdraw Chapter 15 applications in US
reuters.com/business/evergrandes-liquidators-say-company-sj-tianji-withdraw-chapter-15-applications-2024-03-24/
Ping An and Vanke look made for each other: Chinese regulators are ordering financial institutions to step up approval and issuance of loans to property ...
reuters.com/breakingviews/ping-an-vanke-look-made-each-other-2024-03-26/
Huawei Tests Brute-Force Method for Making More Advanced Chips: Huawei Technologies Co. and a secretive chipmaking partner in China have filed patents for a ...
bloomberg.com/news/articles/2024-03-22/huawei-tests-brute-force-method-for-making-more-advanced-chips
China's Ping An hit by $2.7bn loss in asset management business: HONG KONG -- Share prices of China's Ping An Insurance slumped on Friday after the ...
asia.nikkei.com/Business/Finance/China-s-Ping-An-hit-by-2.7bn-loss-in-asset-management-business
Chinese e-commerce giant Alibaba's bumpy restructuring journey: Alibaba said on Tuesday it would shelve plans to list its logistics arm, the latest twist in the ...
reuters.com/technology/chinese-e-commerce-giant-alibabas-bumpy-restructuring-journey-2024-03-26/
China football captain Zhang Linpeng quits after 2-2 draw with Singapore: “We could not even beat the Singapore team. I think it’s unacceptable ...
straitstimes.com/sport/football/china-football-captain-zhang-linpeng-quits-after-2-2-draw-with-singapore
Morning Bid: Volatile yuan, fragile yen cool sentiment: A look at the day ahead in Asian markets.
reuters.com/markets/asia/global-markets-view-asia-graphic-pix-2024-03-25/
The rise and fall of Sam Bankman-Fried: The former CEO of the failed cryptocurrency exchange FTX could be sentenced to half-a-century in prison this week
qz.com/sam-bankman-fried-ftx-sbf-rise-fall-prison-sentence-1851354212
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Quick Glance: The Rise and Fall of Sam Bankman-Fried: Unrepentant Ex-Mogul Faces Lengthy Prison Term
- Sam Bankman-Fried, founder of FTX cryptocurrency exchange, was found guilty of wire fraud and money laundering conspiracy.
- Prosecutors urged a 40 to 50-year sentence to emphasize the severity of harm to victims and deter financial misconduct.
- Victims shared impact statements detailing loss of savings and financial distress caused by Bankman-Fried's actions.
- Once a prominent figure in the crypto world, Bankman-Fried faced accusations of embezzling funds and engaging in fraudulent activities.
UBS to Nearly Double Planned HK Office and Occupy Entire Tower: UBS Group AG will lease an entire 14-story office tower in Hong Kong — almost double the space it ...
bloomberg.com/news/articles/2024-03-27/ubs-to-nearly-double-planned-hk-office-and-occupy-entire-tower
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Chinese cities to close local financial asset exchanges to defuse risks: Four Chinese provinces and cities are shutting down their financial asset exchanges as ...
reuters.com/world/china/chinese-cities-close-local-financial-asset-exchanges-defuse-risks-2024-03-26/
Nissan to launch 30 new models by 2027 and boost global sales volumes: Nissan was a pioneer in EVs but the carmaker has been eclipsed by the likes of U.S ...
japantimes.co.jp/business/2024/03/25/companies/nissan-new-models/
Quick Glance: Nissan Aims for 30 New Cars by 2027
- Nissan plans to introduce 30 models over the next three years as part of the Arc business plan, including 16 electrified and 14 ICE vehicles.
- Apart from the U.S. and Canada, the Arc includes various regional strategies that involve the introduction of seven completely new models.
- While maintaining secrecy regarding the lineup of 30 models, Nissan appears to have a strong focus on crossovers and SUVs.
- No specifics about a potential collaboration between Nissan and the struggling startup company Fisker are outlined in the Arc business plan.
China Accuses Evergrande of $78 Billion Fraud, Worse Than Luckin and Enron: China Evergrande Group’s alleged $78 billion revenue overstatement escalates the ...
bloomberg.com/news/articles/2024-03-19/china-accuses-evergrande-of-78-billion-fraud-among-worst-ever
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BYD shares rebound on China's latest push for EV buying: TOKYO -- Shares in Chinese electric-vehicle maker BYD have bounced back about 30% from recent lows after ...
asia.nikkei.com/Spotlight/Electric-cars-in-China/BYD-shares-rebound-on-China-s-latest-push-for-EV-buying
Chinese authorities are examining the role of PricewaterhouseCoopers(PwC) in China Evergrande Group's accounting practices after the developer was accused of a ... Show more
Cathay Pacific budget carrier HK Express eyes mainland China for expansion, aims to boost capacity
scmp.com/news/hong-kong/transport/article/3256836/cathay-pacifics-budget-carrier-hk-express-eyes-mainland-china-expansion-aims-boost-capacity
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Has China lost its taste for the iPhone?: Evidence is mounting that, for many in China, the iPhone no longer holds the appeal it used to.
thestar.com.my/tech/tech-news/2024/03/25/has-china-lost-its-taste-for-the-iphone
Nvidia expands ties with Chinese EV makers as auto AI race heats up: Nvidia said on Monday it is expanding its collaborations with BYD and other Chinese ...
reuters.com/technology/nvidia-expands-ties-with-chinese-ev-makers-auto-ai-race-heats-up-2024-03-18/
Quick Glance: Nvidia Expands Partnerships with Chinese EV Makers
- Nvidia expands collaborations with Chinese automakers to advance self-driving vehicles and AI technology.
- BYD to utilize Nvidia's Drive Thor chips for autonomous driving and digital functions.
- Chinese auto brands intensify partnerships with Nvidia to enhance global presence.
- Nvidia announces partnerships with companies like Cerence and Lenovo for AI technology development.
China drone maker EHang starts selling flying taxis on Taobao: Chinese drone maker EHang Holidings has started selling its EH216-S model flying taxi on Taobao ...
reuters.com/business/aerospace-defense/china-drone-maker-ehang-starts-selling-flying-taxis-taobao-2024-03-18/
E-premium for the people: BYD wants to drive with the mainstream: BYD once copied Toyota. Today, the Chinese company is the global benchmark for e-mobility ...
n-tv.de/wirtschaft/BYD-will-mit-dem-Mainstream-fahren-article24812428.html
Nvidia deepens BYD ties as it taps China EV makers' demand for AI: TAIPEI -- U.S. chipmaker Nvidia is expanding its partnership with Chinese EV maker BYD to ...
asia.nikkei.com/Business/Automobiles/Nvidia-deepens-BYD-ties-as-it-taps-China-EV-makers-demand-for-AI
China-made vehicles will comprise a quarter of Europe’s EV sales this year, study shows
cnbc.com/2024/03/28/china-made-vehicles-will-make-up-a-quarter-of-europes-ev-sales-this-year.html
Hong Kong welcomes 100,000 visitors this month on 20 cruise ships, as Serenade of the Seas arrives for first-time visit
scmp.com/news/hong-kong/transport/article/3256898/hong-kong-welcomes-100000-visitors-month-20-cruise-ships-serenade-seas-arrives-first-time-visit
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China Evergrande's flagship unit, founder punished for securities fraud: China Evergrande Group founder Hui Ka Yan will be barred from the securities market for ...
reuters.com/business/chinas-regulator-ban-evergrande-chairman-entering-securities-market-life-2024-03-18/
China's BYD launches new version of Destroyer 07 hybrid at lower starting price: Chinese electric vehicle giant BYD launched on Monday a new version of its ...
reuters.com/business/autos-transportation/chinas-byd-launches-new-version-destroyer-07-hybrid-lower-starting-price-2024-03-18/
Charging points for electric cars: fast is not fast enough: The Federal Network Agency reports many charging points for electric cars. But the analysis shows: ...
faz.net/aktuell/wirtschaft/unternehmen/elektroauto-die-meisten-ladesaeulen-laden-nicht-schnell-genug-19608854.html
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Ford plans affordable small electric pickup and SUV, starting around $25,000: Amid a flood of new competition, Ford is shifting plans to build more affordable ...
electrek.co/2024/03/18/ford-plans-affordable-ev-pickup-suv-starting-25000/
Alibaba Raises $317 Million From Sale of Stake in EV Maker XPeng: Alibaba Group Holding Ltd. raised $317 million from the sale of about 33 million of US-traded ...
bloomberg.com/news/articles/2024-03-20/alibaba-is-said-to-raise-317-million-from-ev-maker-xpeng-stake
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Chief Executive John Lee signs the Safeguarding National Security Ordinance into law, effective March 23, 2024. Photo: GovHK. Full coverage: hongkongfp.com/article23-security-law/
Quick Glance: Australia and Britain Condemn China's Actions in Hong Kong and South China Sea
- Australia and Britain criticized China for its actions in Hong Kong and the South China Sea, as well as its support of Russia.
- In a statement following a meeting where London and Canberra deepened their security ties, the two countries expressed concerns about security and rights in Hong Kong, as well as human rights abuses in China.
- The ministers also strongly criticized Russia's invasion of Ukraine and called on China to play a role in ending the conflict.
- They also warned of the potentially severe consequences of an Israeli ground invasion of Rafah in the Gaza Strip.
Ping An Profit Falls Unexpectedly on China Stock Market Rout: Ping An Insurance (Group) Co.’s profit unexpectedly fell 22.8% last year as stock-market declines ...
bloomberg.com/news/articles/2024-03-21/ping-an-profit-falls-unexpectedly-on-china-stock-market-rout
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Greater Bay Airlines launches Singapore-Hong Kong flights, one-way fares from RM288
thestar.com.my/aseanplus/aseanplus-news/2024/03/26/greater-bay-airlines-launches-singapore-hong-kong-flights-one-way-fares-from-rm288
XMAS & NEW YEAR: 4* Huihua International Hotel in Dongguan, China for only $27 USD per night (breakfast included)
secretflying.com/posts/4-huihua-international-hotel-in-dongguan-china-for-only-27-usd-per-night
European patent applications hit record high in 2023: The European Patent Office (EPO) received a record number of patent applications last year ...
reuters.com/markets/europe/european-patent-applications-hit-record-high-2023-2024-03-18/
Hints of a yuan versus yen currency war: TOKYO – The costs of a chronically weak yen just grew by US$18 trillion as China’s economy, Asia’s biggest ...
asiatimes.com/2024/03/hints-of-a-yuan-versus-yen-currency-war/
China's BYD pushes into emerging markets amid policy uncertainty in the U.S., Europe
cnbc.com/2024/03/19/tesla-rival-byd-pushes-into-emerging-markets-amid-western-uncertainty.html
Tencent Music beats quarterly revenue estimates: China's Tencent Music Entertainment Group , beat fourth-quarter revenue estimates on Tuesday ...
reuters.com/technology/tencent-music-beats-quarterly-revenue-estimates-2024-03-19/
Flood of e-cars from China: "Real danger that European industry will be destroyed"
fr.de/wirtschaft/china-e-autos-elektromobilitaet-byd-ora-hersteller-subventionen-preise-deutschland-europa-zr-92909166.html
Has China Lost Its Taste for the iPhone?: Apple has deep ties in the country, its second-largest market. But there are signs that Chinese consumers are becoming ...
nytimes.com/2024/03/25/business/china-apple-iphones.html
Nissan Drops After Setting Targets for EVs, Car Sales to Compete With BYD: Nissan Motor Co. shares fell the most in six weeks after the Japanese automaker ...
bloomberg.com/news/articles/2024-03-26/nissan-drops-after-setting-new-mid-term-targets-for-evs-sales
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Commentary: A battery price war is kicking off that could soon make electric cars cheaper
channelnewsasia.com/commentary/electric-vehicles-battery-price-war-cheaper-catl-byd-tesla-4211236
Crypto Hackers, Huawei’s Gamble, J-Pop: Saturday Asia Briefing: Something for the weekend.
bloomberg.com/news/articles/2024-03-23/crypto-hackers-huawei-s-gamble-j-pop-saturday-asia-briefing
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Bank of China (Hong Kong) pioneers Greater Bay Area home mortgage solutions for Hong Kong residents
scmp.com/presented/business/topics/seamless-mortgage-experience-all/article/3253653/bank-china-hong-kong-pioneers-greater-bay-area-home-mortgage-solutions-hong-kong-residents
Tesla is raising Model Y prices in the U.S. and Europe even as a China price war rages
qz.com/elon-musk-tesla-model-y-prices-us-china-byd-1851343054
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Singapore Airlines to suspend flights to Chengdu and Chongqing from March 31: SINGAPORE: Singapore Airlines (SIA) will suspend flights to Chengdu and Chongqing ...
thestar.com.my/aseanplus/aseanplus-news/2024/03/22/singapore-airlines-to-suspend-flights-to-chengdu-and-chongqing-from-march-31
Chinese developer Vanke's credit pursuit clouded by clamour for collateral: A rare Beijing directive to help Vanke beat a liquidity crisis has left lenders ...
reuters.com/markets/asia/chinese-developer-vankes-credit-pursuit-clouded-by-clamour-collateral-2024-03-19/
The Biden administration is considering blacklisting a number of Chinese semiconductor firms linked to Huawei Technologies Co (HWT.UL) ... Show more
‘Different logic’: China EV firm XPeng CEO says he will not speed into global market
channelnewsasia.com/asia/china-xpeng-tesla-byd-electric-vehicle-ev-price-war-global-expansion-he-xiaopeng-4213961
China Property Developer Vanke Dollar Bonds Signal Fears of Default: Cash-strapped Chinese developer China Vanke Co. has been fighting to avoid its first-ever ...
bloomberg.com/news/articles/2024-03-13/china-vanke-s-dollar-bonds-signal-fears-of-default-down-the-road
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Why are Chinese nationalists turning on Chinese brands?: Even Huawei isn’t patriotic enough, apparently
economist.com/business/2024/03/14/why-are-chinese-nationalists-turning-on-chinese-brands
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Hong Kong has dropped four places to 86th out of 144 countries and territories in the World Happiness Report. The three-yearly study was released on Wednesday ... Show more
Quick Glance: New Report: Kenya Ranks 114th in Happiness Index
- For the seventh consecutive year, Finland has secured the title of the world's happiest country, with Kenya ranking 114th out of a total of 143 countries. Conversely, Afghanistan finds itself at the bottom of the ranking as the unhappiest nation.
- The latest findings were unveiled on March 20, 2024, coinciding with the International Day of Happiness.
- This annual report relies on six key factors, encompassing social support, income, health, freedom, generosity, and absence of corruption. The economic dimension serves as a pivotal gauge for happiness levels across different nations.
- Attaining happiness is contingent on various elements like career progression and tackling specific challenges. The United Nations advocates for a harmonized economic growth strategy that fosters happiness and well-being for all.
Bank of Ireland app: Some phone users may not be able to acccess account after update
irishtimes.com/your-money/2024/03/28/bank-of-ireland-app-message-leaves-users-with-older-phone-systems-unhappy/
Hong Kong’s Cathay Pacific insists it must stick to prudent spending, holds off on passenger perks
scmp.com/news/hong-kong/transport/article/3256295/hong-kongs-cathay-pacific-insists-it-must-stick-prudent-spending-holds-passenger-perks
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BYD releases last year’s profit report, and it falls a little short: Chinese EV giant BYD just released its 2023 annual profit report, and it looks like it ...
electrek.co/2024/03/26/byd-releases-last-years-profit-report-and-it-falls-a-little-short/
OnePlus 12 review: with super bright display and super fast charging, phone is a match for Samsung, Google flagships
scmp.com/lifestyle/gadgets/article/3256219/oneplus-12-review-super-bright-display-and-super-fast-charging-phone-match-samsung-google-flagships
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BYD launches lower-priced version of its Tesla Model 3 rival electric sedan, starting at $25K
electrek.co/2024/03/25/byd-undercuts-tesla-model-3-with-its-new-electric-sedan/
Hong Kong’s Greater Bay Airlines CEO Plans to Step Down by April: Hong Kong carrier Greater Bay Airlines Co.’s Chief Executive Officer Stanley Hui is preparing ...
bloomberg.com/news/articles/2024-03-18/hong-kong-s-greater-bay-airlines-ceo-plans-to-step-down-by-april
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