Tech

Sony brings a knife to global video-games gunfight

19 Jan 2022

Investors erased 10% of its market value after Microsoft's $69 bln swoop for Activision. The Japanese group may lose access to some content but that looks manageable for now. The bigger worry is that Sony is no match against its far-larger rival as gamers look beyond consoles.

The Exchange: Xpeng boldly goes

18 Jan 2022

The Chinese electric-car maker has navigated everything from shrinking subsidies to Covid-19. Embracing new ways of working is critical, President Brian Gu tells Katrina Hamlin. Future forays into Europe, the metaverse and flying cars will test the Tesla rival’s resilience again.

Covid-19 victory lap leaves Beijing exhausted

14 Jan 2022

China gloated over its pandemic control and took advantage of economic stability to launch risky crackdowns on tech and property. Now mini-outbreaks are prompting fresh lockdowns as an export boom looks set to slow. In 2022, malaise could prove harder to manage than disease.

China’s Great Firewall 2.0 will repel smart money

14 Jan 2022

Once focused on blocking offshore websites, authorities are increasingly hiding government pages, ship movements and even bus schedules from prying foreign eyes. They’re confident overseas funds will keep flowing in even with less access to information. That’s only half-right.

Big transitions are better embraced than resisted

4 Jan 2022

The extraordinary actions required to make epochal shifts, like eradicating hydrocarbons or vanquishing Covid-19, are being taken now. Central banks are removing punch-bowl money. Digital is crushing everything. And without social inclusion, it all falls apart. Welcome to 2022.

Taiwan’s TSMC is wisely cashing in more chips

13 Jan 2022

The $620 bln top chipmaker is hiking prices in response to the global shortage, giving up some of its relative restraint versus competitors. Coupled with voracious demand from the likes of Apple, the increase will pad profits even as it ramps up spending to maintain its huge tech lead.

LG revs up Asia’s green-car capital engine

11 Jan 2022

The South Korean company’s $11 bln battery spinoff is just the start of a regional deal frenzy that also includes CATL’s $7 bln share sale. Unlike in Chinese tech, government policies are lifting growth and valuations. For now at least, investors will go along for the ride.

Southeast Asia still loves New York

10 Jan 2022

While U.S.-listed Chinese companies move home, Indonesian and Vietnamese startups are eyeing a berth in the Big Apple. Unlike their northern peers, these hopefuls are starting with home floats. Ensuring IPOs fill local coffers first is good politics and makes financial sense too.

Samsung tech prowess drained by governance woes

7 Jan 2022

Operating profit at the maker of microchips and Galaxy phones is set to hit a four-year high of $11.5 bln. Despite the dominance, it trades at a discount to Apple and TSMC. A recent management shakeup provides a chance to tidy up the leadership mess and boost shareholder returns.

Invesco walks very fine line on Sony-Zee deal

7 Jan 2022

The U.S. fund won key concessions in the $7 bln entertainment merger, but it’s also mixed up in a lawsuit over the Indian broadcaster blocking its call for a shareholder vote. Court defeat would set an ugly governance precedent. Victory, however, risks blowing up the transaction.

Theranos jury draws a line between hype and lies

4 Jan 2022

Elizabeth Holmes, who touted non-existent capabilities for her now-defunct blood-testing startup, has been convicted of defrauding investors. If it stands, she faces jail time. Even in Silicon Valley, there's a limit to how flagrantly founders can fake it until they make it.

Nio’s European road trip will earn bragging rights

4 Jan 2022

The Chinese electric-car maker will win foreign fans with a marketing splurge. While it may take years to grab a big share of the $120 bln global market for battery-powered rides, even modest success abroad can put it ahead of rivals, boosting its sales and stock in 2022.

Wall Street will find ways to satisfy crypto envy

3 Jan 2022

Banks have mostly been shut out of the $2 trln digital asset craze. Many want in, but they will have to deal with murky regulation, a 24/7 market and patchy legal protections. A fight for profit and customers may also obscure other risks in a market untested by the mainstream.

India’s tech stock bubble is poised to deflate

28 Dec 2021

Investors will continue to afford banks and consumer firms dizzying valuations but will increasingly give their money-losing digital brethren a shorter leash. Some mix of rampant competition, slowing user growth and rising data charges will crash the party for the startup crew.

Viewsroom: Some of our 2022 predictions, Part One

23 Dec 2021

Look for an end to the cult of revenue and another milestone for Microsoft. As net-zero efforts falter, investors ready a Plan B. Riyadh becomes strangely appealing. The World Cup pays dividends for the Gulf. And chips become Taiwan’s green calling card. Our columnists explain.

Tencent sets stage for empire tidy-up

23 Dec 2021

The Chinese giant is sitting on a $185 bln investment portfolio that confuses investors and might bother regulators. Its decision to return most of a $19 bln stake in e-commerce ally JD to shareholders makes strategic sense and is financially savvy. Other sales could follow.

Ant will be best among China’s BAD bunch

23 Dec 2021

After a brutal year for tech, ByteDance, Ant and Didi will spearhead the sector’s recovery. A shaky ad market looms for the restructured TikTok owner, however, while the ride-hailing company faces rising driver costs. Jack Ma’s fintech outfit has the clearest path ahead.

Capital Calls: Hedge fund fine

22 Dec 2021

Concise views on global finance: Britain’s FCA fines BlueCrest Capital 41 mln pounds, a third of the fund’s U.S. penalty.

The Exchange: Australian Treasurer Josh Frydenberg

21 Dec 2021

With an election looming early next year, the Liberal Party’s deputy leader discusses everything from booster shots to Big Tech, climate change to China, immigration to inflation, and more. He tells Jeffrey Goldfarb how his country can overcome the many economic challenges ahead.

Alibaba climate tide can lift valuation boat

20 Dec 2021

The e-commerce titan, whose market worth has halved this year, has unveiled bold 2030 carbon neutrality goals. Notably, it wants to widen the scope of consumer and merchant emissions it includes. Details will be key but longer term, the efforts could bolster shareholder returns.