Connecting Regions of Asia.

Quartz Global Briefs : Goldman Sachs Woes

14

Goldman Sachs finally settled its 1MDB fine. In what is now the largest fine levied over the US Foreign Corrupt Practices Act, Goldman will pay nearly $3 billion—on top of a $3.9 billion payment to Malaysia—to resolve the decade-long scandal. Hong Kong has also fined the Wall Street bank an additional $350 million, and the company’s current and former chief executives will see their compensation clawed back.
UK visas for Hongkongers 
The UK fleshed out its Hong Kong visa deal. The uncapped offer for five-year visas, for which around 3 million people will be eligible, will cost £250 ($330) per person. The UK first proposed granting Hong Kongers visas in July, after deciding that China had violated the terms of a 1984 handover treaty.
Japan for ‘Green Society’
Japan prepares for a “green society.” Following a similar announcement from China last month, prime minister Yoshihide Suga will reportedly pledge to cut the country’s carbon emissions to net zero by 2050.
Ant Financial’s IPO shapes up
Launched 16 years ago as the payment arm of Alibaba, the Hangzhou-based company is on the verge of likely the world’s largest IPO and a valuation of more than $300 billion. John Detrixhe’s latest report rounds up what investors are saying now.
Asian garment workers pay for pandemic price cuts. 
Fashion companies canceled a huge volume of orders earlier this year. Now, even as demand has returned, a new survey reveals that more than half of regional suppliers have been forced to cut their prices.
THE US ELECTION ENTERS THE HOME STRETCH
President Donald Trump and the Democratic nominee, former vice president Joe Biden, are scheduled to debate Thursday evening, local time, the last time voters will see them face off before polls close in less than two weeks. While a mute button should make for a more orderly exchange, there’s still plenty of time for election drama:🇮🇳 A Kamala Harris meme upset Hindu groups for its use of religious imagery.📹 In some swing states, YouTube has run out of slots for political ads.☑️ US voter turnout was 56% in 2016. Would compulsory voting be better or worse for democracy?
CHARTING INDIA’S FANTASY SPORTS STARTUPS
Cricket fans in India are flocking to fantasy sports. The surging popularity has translated into strong growth for these startups, and total industry revenue spiked by three times to Rs2,400 crore ($326 million) during the 12 months ended on March 31.
Apart from Indians’ unending love for cricket, cheap data plans (thanks to Reliance Jio) and increased smartphone penetration have made these startups winning bets for investors, who have pumped $112 million into India’s sports fantasy platforms.
A bar chart showing investment in India’s sport fantasy startups 2016-2020. Investments totaled $0.99 million in 2016, $1.85 million in 2017, $106.42 million in 2018, $1.85 million in 2019, and $0.99 million in 2020.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More