Apr 26, 2023

Goldman Has Currency Trades for Contrasting Policy Rate Views British Chip Startup With CIA Ties Sees a Future in US or China Asian Stocks Set to Fall, US Futures Gain on Tech: Markets Wrap SNB Faces Day of Discord With Venting on Climate, Credit Suisse Heat Waves, Cyclones Are Impacting Stock Markets Across Asia Retail Investors Bearish on Japan Stocks as Foreigners Pile In Oil Holds Drop as Demand Weakness Spurs Talk of Refinery Cuts ECB Has No Choice But to Raise Rates Further, Vujcic Tells Delo New Phase of Key China Renewables Push Extends Beyond Deserts RBA Overhaul Is Unlikely to Have Major Policy Impact, AMP Says Ukraine Latest: Russia Says Drone Attacks Threaten Grain Deal LG Energy Solution Profit Beats Estimates on US Tax Credit Top Gas Exporter Australia Seeks to Extend Domestic Price Cap China Stock Selloff Eases After $446 Billion in Value Wiped Out McCarthy Searches for Debt-Limit Bill Support on Eve of Expected Vote Japan’s Ispace Says It Lost Contact With Moon Lander US Companies in China Grow More Pessimistic About Bilateral Ties China’s Consumer Recovery Under Scrutiny as Economy Rebounds Yen Traders Need to Be Wary of One-Way Bullish Bets, RBC Says 'Give yourself time and space': How to manage your finances during times of grief Experts explain how to cope with money stress No reprieve for last-minute tax filers despite labour turmoil Experts share effective ways to tackle student debt As thousands flock to day trading during lockdown, experts urge caution Dual income, no kids: Why some young Canadians are choosing this lifestyle Paper filing is dying but free income tax software lives on: Dale Jackson 'Ask a lot of questions' before deciding what to do with your tax refund: experts How claiming income from side gigs can lower your tax bill As Canadians miss out on benefits, Ottawa promises automatic tax filing is on the way Here's a list February inflation rates for Canadian provinces Is your retirement portfolio ready for what's to come? Women more likely to bag $100,000 jobs despite fewer applications Quitting your job? Experts say it's best to have a plan before you do Household debt-to-income ratio edges lower as interest payments expand Canadians making fewer trips to the grocery store as inflation pinches: RBC report With airfares rising, here's how to find a travel deal this year Young Canadians keep up pandemic-inspired DIY projects to save money Here are the most risky types of scams in Canada: Report China Paves Way for National Property Tax With New Network China’s Consumer Recovery Under Scrutiny as Economy Rebounds New Zealand Housing Slump May Be Tempered By Eased Lending Rules Advent Claims Mexico Funeral Home Owner Lawsuit is ‘Extortion’ Bank Groups Warned Regulators About Losses in Months Before SVB, Signature Failed Lawyer Laundered Russian Oligarch’s Money by Paying Bills for His NY Homes Nomura Hunts for New Manhattan Offices as Firm Seeks to Downsize Housing-Market Bottom Raises Hopes That US Can Avoid Recession Real Estate Woes Weigh On Brookfield After December Spinoff You’re Doing Points and Miles All Wrong, Says Barbara Corcoran US Consumer Confidence Dips to Lowest Since July as Outlook Dims US New-Home Sales Unexpectedly Increase to a One-Year High US Home-Price Gains Cool as Buyers Squeezed by Higher Rates Riksbank Set to Test Swedes’ Pain Threshold With Another Rate Hike Persimmon, Aviva Bet £70 Million on Goldman-Backed Factory Homes UAE Says Escape From Gray Listing Hinges on Policy Effectiveness Adler Creditors Lose Bid to Appeal €6 Billion Debt Restructuring ESG Push in UK May Falter Without Simpler Rules, Say Lawmakers Wanda Unit’s Hong Kong IPO Application Lapses for Third Time Russia Seizes Fortum, Uniper Plants in Response to Asset Freezes Private Health Care Booms in Britain as State-Run NHS Buckles British Chip Startup With CIA Ties Sees a Future in US or China Citi Names Mark Woodruff Head for Australia and New Zealand Asian Stocks Set to Fall, US Futures Gain on Tech: Markets Wrap SNB Faces Day of Discord With Venting on Climate, Credit Suisse Heat Waves, Cyclones Are Impacting Stock Markets Across Asia South Africa Solicits Proposals Under Renewable Power Program Erdogan’s Most Faithful Followers Reconsider Loyalties as Turkey Election Looms Circle’s Allaire Signals Risks in US Are Impacting USDC Stablecoin Retail Investors Bearish on Japan Stocks as Foreigners Pile In Singapore Sees Some Relief Ahead in Soaring Rental Costs Singapore Warns of Uncertain Economic Outlook, Keeps Growth View Hybrid Work Is Getting a Little Better for Women New Phase of Key China Renewables Push Extends Beyond Deserts Ukraine Latest: Russia Says Drone Attacks Threaten Grain Deal LG Energy Solution Profit Beats Estimates on US Tax Credit US, Philippines Fire at Old Ship in Drills Near Disputed Waters China Paves Way for National Property Tax With New Network Asian Stocks Set to Fall, US Futures Gain on Tech: Markets Wrap SNB Faces Day of Discord With Venting on Climate, Credit Suisse Heat Waves, Cyclones Are Impacting Stock Markets Across Asia South Africa Solicits Proposals Under Renewable Power Program Oil Holds Drop as Demand Weakness Spurs Talk of Refinery Cuts New Phase of Key China Renewables Push Extends Beyond Deserts Ukraine Latest: Russia Says Drone Attacks Threaten Grain Deal LG Energy Solution Profit Beats Estimates on US Tax Credit Top Gas Exporter Australia Seeks to Extend Domestic Price Cap McCarthy Searches for Debt-Limit Bill Support on Eve of Expected Vote China’s Consumer Recovery Under Scrutiny as Economy Rebounds FTX Sells LedgerX to Miami Exchange Owner for $50 Million Wheat Farmers Ask Canada to Step in as Strike Threatens Exports UK Food Bank Demand Hits An All-Time Record Carrier to Buy Viessmann Climate Solutions for €12 Billion Canada Oil Sands Scale Seen Helping Decarbonization: BNEF Update Betting on Bacteria to Fix the Cement Industry’s Emissions Problem US Says It Will Lift Sanctions as Venezuela Returns to Democracy Lithium Mining Decisions Must Be in the Public Interest, Chile Economy Minister Says Weak on-time record of Canadian airports, airlines raises questions for summer travel The Daily Chase: Markets point to a negative open; CN Rail raises growth forecast Passenger rights overhaul draws criticism from both sides — airlines and advocates The Daily Chase: Markets point to flat open; Federal employees strike continues Russian airspace ban means pricier flights for Canadian travellers and airlines Small business owners working eight-day week equivalent due to staff shortages: CFIB What's ahead under President Joe Biden, industry by industry Trudeau eyes billions to patch Canada's creaking health system U.S. is open as Canada shuts down. The difference? premier speaks out against Glencore’s Teck bid; Tesla under pressure PSAC strike could have domino effect for unionized workers: labour experts How becoming common-law or getting hitched changes tax-filing season The Daily Chase: Markets point to a weak open; Teck gains support in coal operations split TSX recap: Index finishes slightly lower amid losses in energy stocks Tech companies shouldn't be labelling media companies in ad hoc way: academics ​Will a weak Canadian dollar impact inflation? The Daily Chase: Glencore's pursuit of Teck continues; Metro beats Q2 profit expectations Major reforms to air passenger rights needed, says House committee report Competition Ltd.: Why big banks dominate Canada's financial landscape South Africa Backtracks on ICC Stance Before Possible Putin Trip Erdogan’s Most Faithful Followers Reconsider Loyalties as Turkey Election Looms RBA Overhaul Is Unlikely to Have Major Policy Impact, AMP Says Ukraine Latest: Russia Says Drone Attacks Threaten Grain Deal Singapore Executes Smuggler of One Kilo of Cannabis Amid Outcry US, Philippines Fire at Old Ship in Drills Near Disputed Waters McCarthy Searches for Debt-Limit Bill Support on Eve of Expected Vote US Companies in China Grow More Pessimistic About Bilateral Ties China’s Consumer Recovery Under Scrutiny as Economy Rebounds Supreme Court Justices Issue Statement on Ethics Practices Manhattan DA Seeks to Stop Trump From Discussing Evidence Chief Justice Roberts Has Declined to Testify on Court Ethics Erdogan Live Interview Cut Short After Brief Off-Camera Illness Canada Oil Sands Scale Seen Helping Decarbonization: BNEF Update US Says It Will Lift Sanctions as Venezuela Returns to Democracy Ted Cruz Says ‘Under No Circumstances’ Should US Default on Debt Lithium Mining Decisions Must Be in the Public Interest, Chile Economy Minister Says Mexico Congress to Allow State-Operated Airlines, Monreal Says Trump Trial in Rape Suit Renews Focus on His Treatment of Women British Chip Startup With CIA Ties Sees a Future in US or China Circle’s Allaire Signals Risks in US Are Impacting USDC Stablecoin LG Energy Solution Profit Beats Estimates on US Tax Credit Japan’s Ispace Says It Lost Contact With Moon Lander Travelers Lose Ultra-Cheap First Class Tickets After ANA Cancellation US Companies in China Grow More Pessimistic About Bilateral Ties China’s Consumer Recovery Under Scrutiny as Economy Rebounds Chipmaker SK Hynix’s Losses Widen After Tech Slump Deepens Japan Regulator Asks Banks to Examine Social Media Risks After SVB FTX Sells LedgerX to Miami Exchange Owner for $50 Million Tucker Carlson’s Fox News Exit Wipes Out $690 Million in Value SpaceX Gets Nod for Second Launch Site from Base in California US-Listed China Stocks See $100 Billion Wipeout in Jittery Month Microsoft Sees AI Shaking Up Search While Google Calms Investors Texas Instruments Outlook Shows Chip Demand Remains Sluggish Salesforce Loses Longtime Executive Ebony Beckwith Canada Oil Sands Scale Seen Helping Decarbonization: BNEF Update Big Tech Gains as Microsoft, Alphabet Results Ease Concerns Meta’s Clegg Invokes Anti-China Rhetoric to Rail Against TikTok The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. JPMorgan Overthrows JPMorgan for Crown of Largest Actively Managed ETF Hedge Funds, Buybacks Drive $2.3 Billion Into Stocks, Bank of America Says 21Shares, Cathie Wood Revive Bitcoin ETF Bid After Price Rebound Four Reasons Why Investors Expect US Dollar to Keep Sliding Citi's Japan Clients Bet on US Dollar, Aussie as Ueda Cools BOJ Bets Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000 Tech Surge Sends Valuations to Extremes, but Traders Don’t Care Money Is Pouring Into Stock ETFs at a Time When Bearish Warnings Soar Do-Good Funds Spurned for Safer Bets as Quarterly Losses Mount Bill Gross Scoops up Regional Bank Stocks This Week in China: Death Cross Shows Fatigue in Reopening Trade Wary Stock Traders Eye Options Deadline for End to Eerie Calm Bitcoin’s 70% Surge Fuels an ETF Showdown Between Bulls and Bears Weed Stock Fund Is Down 72% Even as Legalization Spreads Beaten-Down Biotech Stocks Get Boost from M&A Boom, Lofty Prices Barclays to Shut 21 ETNs a Year After ‘Staggering’ Note Blunder Cathie Wood’s Popular Touch Deserts Her in ARK Flows, Venture Fund Anti-Ark ETF Creator Looks to Repeat Trick After Losing Fund Canada’s New Crypto Rules Push Trading Platforms to Comply or Leave BCE CEO says tech hiring & donations continue despite tough economy Cenovus CEO Pourbaix to step down, become executive chair; Jon McKenzie to be new CEO Manulife CEO on diversification, insurance demand and digital transformation Decision on new Suncor CEO expected 'very soon' Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Reed Hastings explains why he's stepping down as Netflix CEO in blog post Bankman-Fried says in court that he's ready for U.S. extradition SBF sent back to Bahamian jail after catching lawyer off guard with U.S. extradition plan Disney's Iger returns to reckon with his own 15-year Legacy Women making small gains, but still troublingly under-represented in the C-suite Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Dominic Barton on Canada-China relations, future at Rio Tinto 'We’re serving Canadians better' following the pandemic: McKesson Canada CEO Rebecca McKillican World's richest family loses US$11.4B in Walmart rout 'Fine balance': Rania Llewellyn on fitting her long-term inclusion goals into Laurentian's revamp First female bank CEO in Canada leads with younger self in mind ​Company holiday parties are making a comeback, but many employers have a plan B Elon Musk and Jeff Bezos now worth almost half a trillion dollars BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Thomas Seal, Bloomberg News (Bloomberg) -- A British chip-making startup funded by the CIA’s venture capital firm says that if the UK government doesn’t come up with a supportive semiconductor strategy, it may shift its operations abroad. Pragmatic Semiconductor Ltd. makes tiny, flexible circuit boards that can be embedded into almost anything, from packaging to clothing. Its founder Scott White says the UK’s efforts to fund more domestic chip production may fall short of what the Cambridge, England-based company needs to build more factories. White said he may turn to the US, where the $52.7 billion CHIPS Act provides federal funding and tax breaks to semiconductor companies, or take on more investment from China. Rising geopolitical tensions between China and the West have caused a schism over ownership and access in the semiconductor industry. The so-called ‘chip war’ has led to sanctions, like those imposed by the White House on Chinese telecommunications giant Huawei Technologies Co., and the UK’s recent decision to order Shanghai-listed Wingtech Technology Co Ltd. to sell most of its stake in a Wales-based semiconductor factory, citing national security. Since a $125 million Series C funding round in December, Pragmatic has been part-owned by In-Q-Tel, the Central Intelligence Agency’s venture capital firm. It’s also received investment from the UK government’s National Security Strategic Investment Fund. The company is also backed by Hangzhou-headquartered Puhua Capital, though White said he’s intentionally kept the level of Chinese funding low. Accepting both western and Chinese funding may become more difficult. If Pragmatic opts to expand in the UK, which is more likely if the government offers generous subsidies in its semiconductor strategy, the company will set limits on how much Chinese investment it will take, White said. “It’s a tricky balancing act,” White said in an interview. “Because there isn’t the ability to raise funding for this kind of business effectively in the UK, you end up going to foreign investors.” Without sufficient UK backing, White raised the prospect that Pragmatic could re-base operations or list overseas in the future, which would add to an exodus of British business symbolized by the decision of chip software giant ARM Ltd. to list in New York rather instead of London. “If all of our manufacturing ends up being overseas and all of our customers are overseas, it just wouldn’t make any sense,” White said of listing on the London Stock Exchange. Chinese Investment Along with other British chip executives, White recently traveled to Washington to explore the possibility of funding from the US CHIPS Act. In contrast to vast and expensive silicon fabs, which can cost billions of dollars, Pragmatic plans small, low-cost plants, because its bendy chips are made of a different material, indium gallium zinc oxide. The goal is to open more than a hundred of these fabs around the world over the next decade, White said. White didn’t disclose the size of Puhua’s stake but public filings say it owned 43,000 C shares as of October 2022, implying about 4.5% ownership before the latest funding round. The Chinese investors are interested in having Pragmatic fabs in China, White said. Puhua didn’t respond to a request for comment. NSSIF and In-Q-Tel are “comfortable” with the level of Puhua’s shareholding, but Pragmatic may have to weigh future Chinese investment against its expansion plans, White said. “Any foreign direct investments in areas of national and security defense interest are made subject to requirements set out in the National Security and Investment Act 2021,” said a spokesperson for the British Business Bank, the umbrella organization for NSSIF and British Patient Capital, both of which invested in Pragmatic. In-Q-Tel didn’t respond to requests for comment. Other investors include fellow Cambridge-based semiconductor firm ARM, Saudi Aramco, and packaging giants Avery Dennison Corp. and Amcor Plc. White called the latter firms strategic investors, because Pragmatic’s small flexible processors are suited for radio tagging the packaging of fast-moving consumer goods, which he said is the company’s “biggest customer demand pool” at the moment. --With assistance from Henry Ren. ©2023 Bloomberg L.P.