14 May

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Toshiba unit hacked in Europe, conglomerate to undergo strategic review By Reuters

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By Makiko Yamazaki and Benoit Van Overstraeten TOKYO/PARIS (Reuters) -A unit of Toshiba Corp was hit by a ransomware attack, overshadowing an announcement of a strategic review for the conglomerate and an upbeat profit forecast. Toshiba Tec Corp, which makes point-of-sale systems and copiers, said had been hacked by DarkSide, the group the U.S. FBI has blamed for the Colonial Pipeline attack, its French subsidiary said. It said only a minimal amount of work data had been lost. Reuters could not access DarkSide's public-facing website on Friday. Security researchers said DarkSide's multiple websites had stopped...

14 May

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Britain’s financial watchdog to toughen consumer protection By Reuters

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LONDON (Reuters) - Britain's financial watchdog on Friday proposed a tougher "duty" on companies to protect consumers from scams and mis-selling, saying it will drive a shift in culture and behaviour. "The package of measures we are proposing will enhance our existing rules and is designed to tackle the harms we see in financial services markets, and their causes, as well as put consumers in a stronger position to make good decisions," Sheldon Mills, the Financial Conduct Authority's executive director of consumers and competition, said in a statement. ...

14 May

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Ant leapfrogs banks to top China fund sale rankings By Reuters

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By Andrew Galbraith and Samuel Shen SHANGHAI (Reuters) - Alibaba (NYSE:BABA) affiliate Ant Group became China's largest seller of non-money-market mutual funds in the first quarter, industry data showed, disrupting a market dominated by banks despite a regulatory crackdown. Ant and Alibaba are being targeted by Beijing's anti-monopoly campaign. Regulators have urged Ant to reduce the size of Yu'ebao, China's biggest money market fund managed by Ant-controlled mutual fund house Tianhong. Ant's fund sales arm sold non-money-market mutual funds worth a net 890.1 billion yuan ($138.23 billion) to investors in the first quarter...

14 May

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Thai central bank sees bad loans rising amid new virus wave, but not a concern yet By Reuters

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BANGKOK (Reuters) - Thailand's central bank said bad loans were likely to increase somewhat, but were not a worry yet as the country deals with a third wave of coronavirus infections. The central bank will closely monitor the situation, Deputy Governor Ronadol Numnonda told a briefing on the extension of debt relief measures until the end of the year. ...

14 May

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Analysis: U.S. investors looking for protection as inflation pressures bubble, stocks volatile By Reuters

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By David Randall and Maiya Keidan NEW YORK (Reuters) - U.S. investors grappling with the latest stock volatility and evidence of inflation say they have been positioning themselves for more unexpected kinks in the road to recovery. The moves to hold assets that could withstand a prolonged surge in inflation come as data earlier in the week showed U.S. consumer prices rose by the largest amount in 12 years in April in a jump that was well above Wall Street's expectations. Bottlenecks in global supply chains and scarcity in the labor market were among the reasons...

14 May

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Lines, tokens and money brokers: Myanmar’s crumbling economy runs low on cash By Reuters

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By Thu Thu Aung, Shoon Naing and Antoni Slodkowski (Reuters) - If you need cash in Myanmar, you have to get up early. Queues start forming outside banks at 4 a.m., where the first 15 or 30 customers are given a plastic token that will allow them to enter the bank when it opens at 9:30 a.m. and withdraw cash, according to more than a dozen people who spoke to Reuters. If you do not get a token, you either have to queue for hours for the few functioning cash dispensing machines outside or go...

14 May

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Steinhoff prices Pepco shares at 40 zlotys in Warsaw listing By Reuters

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LONDON (Reuters) - South African conglomerate Steinhoff said on Friday it had set the price of shares in discount retailer Pepco at 40 zlotys (8.8 euros) in its Warsaw listing, giving the company a market capitalisation of 23 billion zlotys. The pricing is towards the lower end of the 38 zloty to 46 zloty-per-share indicative price range. Pepco, which owns Poundland in the United Kingdom as well as the PEPCO and Dealz brands in Europe, trades from more than 3,200 stores across 16 countries and is led by CEO Andy Bond, a former boss of British...

14 May

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Exclusive: TSMC looks to double down on U.S. chip factories as talks in Europe falter By Reuters

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By Stephen Nellis (Reuters) - Taiwan Semiconductor Manufacturing Co is weighing plans to pump tens of billions of dollars more into cutting-edge chip factories in the U.S. state of Arizona than it had previously disclosed, but is cool on prospects for an advanced European plant, people familiar with the matter told Reuters. TSMC is the world's most advanced chip-maker, and its investment plans are being closely watched amid a global chip shortage and new initiatives in the U.S. and Europe to subsidize semiconductor production. TSMC announced last year that it would invest $10 billion to $12...

14 May

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Buyout firm Cinven says Sanne rejects $1.90 billion takeover proposal By Reuters

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(Reuters) - Cinven said on Friday London-listed alternative asset and corporate services firm Sanne Group had rejected the private-equity firm's 1.35-billion-pound ($1.90 billion) buyout offer. Cinven, which made a 830 pence per share offer to Sanne earlier this month, said it was considering its position. It has until June 11 to make a firm offer or walk away. ...

14 May

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In surprise move, Japan adds 3 more prefectures to virus state of emergency By Reuters

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By Chang-Ran Kim TOKYO (Reuters) -Japan will declare a state of emergency in three more prefectures hit hard by the COVID-19 pandemic, Economy Minister Yasutoshi Nishimura said on Friday, in a surprise move reflecting growing concerns about the virus's spread. The rising state of emergency declarations come as Japan grapples with a surge of a more infectious strain of COVID-19 just 10 weeks before the Tokyo Olympics are due to start. Hokkaido, Okayama and Hiroshima will on Sunday join Tokyo, Osaka and four other prefectures under a state of emergency until May 31, said Nishimura, who...

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Toshiba unit hacked in Europe, conglomerate to undergo strategic review By Reuters

Britain’s financial watchdog to toughen consumer protection By Reuters

Ant leapfrogs banks to top China fund sale rankings By Reuters

Thai central bank sees bad loans rising amid new virus wave, but not a concern yet By Reuters

Analysis: U.S. investors looking for protection as inflation pressures bubble, stocks volatile By Reuters

Lines, tokens and money brokers: Myanmar’s crumbling economy runs low on cash By Reuters

Steinhoff prices Pepco shares at 40 zlotys in Warsaw listing By Reuters

Exclusive: TSMC looks to double down on U.S. chip factories as talks in Europe falter By Reuters

Buyout firm Cinven says Sanne rejects $1.90 billion takeover proposal By Reuters

In surprise move, Japan adds 3 more prefectures to virus state of emergency By Reuters

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