Tag Archives: IT Services and Consulting (TRBC)

After LSE’s sharp rebuff, HKEX begins investor attraction offensive

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LONDON (Reuters) – Hong Kong Exchanges and Clearing (0388.HK) is embarking on a three-week attraction offensive with London Inventory Trade (LSE.L) traders because the Asian buying and selling home tries to salvage its proposed $39 billion takeover provide.

FILE PHOTO: The title of Hong Kong Exchanges and Clearing Restricted is displayed on the entrance in Hong Kong, China January 24, 2018. REUTERS/Bobby Yip/File Photograph

LSE’s board is refusing to have interaction with HKEX after emphatically rejecting its method on Friday. The LSE described HKEX’s provide as essentially flawed, saying it could not meet its strategic targets and got here with a excessive threat of being blocked by regulators.

LSE has stated it desires to stay with its plan of shopping for knowledge and buying and selling firm Refinitiv for $27 billion.

However HKEX has vowed to press on, and has arrange conferences with a collection of LSE’s high traders over the following few weeks, in response to two individuals acquainted with the matter, elevating the possibilities that it might make a hostile provide.

One top-25 investor advised Reuters that they had a gathering booked with HKEX later this month and that there might be a hostile method. Others stated they have been eager to listen to extra moderately than dismissing the deal instantly in favor of the Refinitiv tie-up.

“We’d count on there to be some synergy (within the HKEX deal) each when it comes to company overheads and expertise,” stated James Bevan, chief funding officer at CCLA. He added that whereas he was broadly supportive of the Refinitiv deal, he had some considerations in regards to the knowledge agency’s development technique.

HKEX has till Oct. 9 to make a agency provide or stroll away.

HKEX declined to touch upon the deal past its assertion on Friday that it could proceed to have interaction with LSE shareholders and that its provide was of their greatest pursuits.

LSE didn’t reply to a request for touch upon Sunday.

REGULATORY RISK

A supply near HKEX stated the Asian buying and selling home was assured some LSE traders have been fascinated by their provide and that it had an opportunity of success. They identified that round 15 of the highest 20 LSE shareholders additionally had stakes in HKEX.

However the previous decade has seen a collection of makes an attempt at cross-border change offers fail, thwarted by regulators and politicians even when each firms have favored the deal.

HKEX says it has had “constructive” preliminary discussions with regulators and policymakers. Nevertheless, regulatory sources in Britain and Italy – the place LSE owns Borsa Italiana – stated that they had but to carry substantive talks with HKEX on the deal.

HKEX will probably be relying on its lead banker – Moelis’s Caroline Silver – to assist it pull off what can be a significant coup if it succeeds.

One of the vital outstanding change bankers, Silver labored on LSE’s takeover of Borsa Italiana in 2007 when at Morgan Stanley, and represented London Metallic Trade when HKEX purchased it in 2012.

“Her modus is kind of easy: she is aware of everyone within the change and monetary infrastructure world, she understands the markets … and he or she runs a really disciplined course of,” stated Martin Abbott, London Metallic Trade’s former chief govt.

Further reporting by Sinead Cruise, Carolyn Cohn and Huw Jones; Writing by Rachel Armstrong; Enhancing by Dale Hudson

Our Requirements:The Thomson Reuters Belief Rules.

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Good house tech makes inroads into China’s rising aged care market

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WEIFANG, China (Reuters) – Charging aged shoppers simply 1 yuan or about 15 cents a day, little-known Lanchuang Community Expertise Corp has launched into one of the crucial formidable undertakings in aged care by a personal sector agency in China.

FILE PHOTO: An aged lady walks with a stick alongside a road in downtown Beijing, China July 30, 2019. REUTERS/Jason Lee

Supplied with a setup field, a webcam paired with a TV set and “Xiaoyi”, a Siri-like voice assistant, clients achieve entry to telemedicine and an SOS system in addition to for-pay companies that embrace housekeeping and meal deliveries.

A small robotic that may ring up a medical middle in response to verbal requires assist prices an additional 2 yuan per day.

Launched simply 4 months in the past, Lanchuang’s good care system has already signed up 220,000 aged shoppers in 16 cities, half of that are in Shandong, a quickly growing older province in jap China the place the corporate relies.

It’s concentrating on as many as 1.5 million customers this yr, 12 million subsequent yr and 30 million in 2021, when it hopes to listing on China’s new Nasdaq-style tech board.

The goal, nonetheless, is to not generate income from its shoppers, a few of whom get by on pensions as little as a number of hundred yuan a month, however to take a lower from suppliers of offline companies.

“China’s marketplace for aged care is big, however companies within the business are fragmented,” CEO Li Libo advised Reuters in an interview at his firm’s headquarters in Weifang metropolis.

“Scattered on the bottom are pearls,” Li, 47, mentioned of the services accessible, including it was his firm’s goal to string them collectively.

Lanchuang, which can be working with China Cellular Ltd (0941.HK) on a smartphone for seniors, is an instance of rising, albeit nonetheless nascent, makes an attempt by entrepreneurs to supply complete good house care companies for China’s huge variety of aged.

China has 1 / 4 of a billion folks aged 60 or over, and by 2050, that quantity is about to climb to virtually half a billion, or 35% of the inhabitants, in keeping with authorities estimates.

Liu, 66, a local of Jinan, Shandong’s capital, is aware of how arduous taking good care of the aged may be. In her mom’s last years, her urinary tract would get obstructed regardless of sporting a catheter and infrequently in the midst of the night time, to her daughter’s despair.

“If solely I had been in a position to attain a physician to assist my mom, however medical doctors should not reachable 24 hours a day,” mentioned Liu, who solely gave her surname.

The retired accountant, who was unaware of tech merchandise aimed on the aged, now lives alone and is reluctant to bother her personal daughter and son-in-law.

Care of growing older dad and mom has historically fallen on the shoulders of kids, however in fashionable China, the place the one-child coverage was abolished solely in 2016, the son or daughter has to take care of as many as 4 growing older folks together with in-laws. Typically, youngsters have moved to cities distant for work.

Retirement and nursing properties are on the rise, however are too expensive for many households and largely perceived as ridden with abuse. Three-quarters of outdated folks desire to reside out their days at house, official surveys present.

LOCAL AUTHORITIES

Whereas Beijing has been keen to ascertain a coverage framework for a proper aged care system, native governments have been reluctant to help aged-care companies which they see as nice-to-haves or simply an excessive amount of work.

However change is afoot.

In April, Beijing issued an in depth coverage doc outlining companies to be developed for the sector, together with good know-how, in addition to monetary help.

The central authorities supplied virtually 22 million yuan ($three million) in subsidies for Lanchuang’s good platform and the Shandong provincial authorities has given three million yuan.

That degree of encouragement is a far cry from a decade in the past when entrepreneurs persistently met with native resistance.

“Why are you doing this? What has this obtained to do with me?” mentioned U.S. entrepreneur Wang Jie, 59, as he recalled skeptical appears when he sounded out native authorities in China about trials of movement sensors at folks’s properties.

Wang needed to go to Canada for his trials. When he returned to Beijing in late 2013 to kick begin a enterprise, Wang needed to persuade native authorities, district by district, of the virtues of his sensors – which assist members of the family monitor exercise ranges of aged folks through an app however should not as intrusive as cameras.

Wang, who sits on the Nationwide Advisory Committee on Good Aged Care, has since managed to make inroads into two Beijing districts, with talks underway with three others.

The 2 districts have helped Wang establish high-risk people, sometimes these aged 70 and above, who reside alone and may be keen to make use of his sensors.

His agency, Beijing eCare Good Tech Co, has offered a number of hundred units of sensors in Beijing to this point this yr underneath three-year contracts with group organizations. Wang’s firm additionally helps practice grassroots emergency response crews as a part of the deal. Households pay nothing.

“If an aged particular person dies and the physique is barely found after three days, this creates unfavourable publicity for the native authorities, publicity that it needs to keep away from,” Wang mentioned.

EARLY DAYS

Entrepreneurs in different graying economies resembling america, Britain and South Korea have equally seized on alternatives within the sector, touting applied sciences from voice recognition for house home equipment to robotic companions for lonely outdated folks.

However it’s nonetheless early days in China.

In Weifang, Zhuojing Healthcare Heart, one in every of 147 group medical service suppliers linked to the Lanchuang community, mentioned it has solely receives 1-2 calls by the system a day.

On a Reuters go to organized by Lanchuang to the properties of two aged shoppers in Weifang, each mentioned they use the platform primarily for video chats with household.

Zhao Xi’e, 55, mentioned she makes use of it to speak to her mom who lives close by.

Slideshow (14 Photos)

Zhao’s purchasing and meals supply panels on her TV show have been grayed out, indicating zero service suppliers in her neighborhood.

She was additionally unaware the purple button on her handheld management had an SOS operate.

“Is that an on/off button?” she requested.

Reporting by Ryan Woo; Extra reporting by Beijing newsroom; Modifying by Edwina Gibbs

Our Requirements:The Thomson Reuters Belief Rules.

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Apple faces investigation for suspected unfair competitors in Russia

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The emblem of Apple firm is seen outdoors an Apple retailer in Bordeaux, France, March 22, 2019. REUTERS/Regis Duvignau

MOSCOW (Reuters) – Apple (AAPL.O) is beneath investigation in Russia following a criticism from cybersecurity firm Kaspersky Lab and could also be abusing its dominant market place, Russia’s anti-monopoly watchdog stated on Thursday.

Watchdog FAS stated it was investigating why a brand new model of Kaspersky Lab’s Protected Youngsters utility had been declined by Apple’s working system, leading to a major loss in performance for the parental management app.

It stated Apple had launched model 12 of its personal parental management app, Display Time, which had related features to the Kaspersky program. Parental management apps enable dad and mom to regulate their kids’s cellphone and pill utilization.

Requested in regards to the Russian investigation, Apple referred Reuters to an April 28 assertion during which it stated it had not too long ago eliminated a number of parental management apps from its App Retailer as a result of they “put customers’ privateness and safety in danger.”

It stated a number of of those apps had been utilizing a “extremely invasive” expertise referred to as Cell Machine Administration (MDM) and that its use in a consumer-focused app was a violation of App Retailer insurance policies.

Kaspersky stated Apple’s App Retailer pointers allowed for a restricted use of MDM, however that it was not clear methods to get hold of Apple’s permission to take action. It additionally stated the necessities diminished the competitiveness of third social gathering builders.

Reporting by Maria Kiselyova, Nadezhda Tsydenova; writing by Tom Balmforth; modifying by Jason Neely/Keith Weir

Our Requirements:The Thomson Reuters Belief Rules.

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Amazon founder Bezos’ divorce final with $38 billion settlement: report

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FILE PHOTO: 2018 Vanity Fair Oscar Party – Arrivals – Beverly Hills, California, U.S., 04/03/2018 – Amazon CEO Jeff and wife MacKenzie Bezos. REUTERS/Danny Moloshok

(Reuters) – Amazon.com Inc (AMZN.O) founder Jeff Bezos’ divorce from his wife of 25 years, MacKenzie Bezos, was finalized by a Seattle-area judge on Friday, paving the way for her to receive $38.3 billion worth of Amazon stock, Bloomberg reported.

In April, Amazon, the world’s biggest online retailer, said in a filing that 4% of its outstanding stock or 19.7 million shares would be registered in MacKenzie Bezos’ name after court approval of the divorce.

The couple announced their plan to divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with reduced Amazon voting power or that he or MacKenzie would liquidate large position.

He retains a 12% stake worth $114.8 billion and remains the world’s richest person, Bloomberg said. MacKenzie Bezos has said she would give him voting control of her shares.

MacKenzie in May pledged to give half her fortune to charity to join the “Giving Pledge,” a campaign announced by billionaire Warren Buffett and Microsoft Corp (MSFT.O) co-founder Bill Gates in 2010.

Reporting by Maria Ponnezhath and Mekhla Raina in Bengaluru; Editing by Cynthia Osterman

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