Compass Intelligence Announces Winners of the 2015 Mobility Awards, A-List in M2M, Green Technology and Customer & Digital Experience Awards

Bloomberg
U.K.’s Longest-Maturity Bond Offer Has Buyers Waiting to Pounce
(Bloomberg) -- U.K. bond investors eager for the government to sell more of its longest-dated debt appear to have gotten their way.A bond auction on Tuesday will include a 1 billion-pound ($1.37 billion) offering of gilts maturing in 2071 with more scheduled for sale in June. Minutes of a conference call with the Debt Management Office last month revealed investors asked for more of the bonds because there isn’t enough to go around. It also cited dealers reporting strong demand for the longest-dated gilts.The success of Britain’s vaccination roll-out and plans to gradually reopen the economy have pressured gilts, lifting 50-year yields to their highest since 2019 last month. That’s now unleashing appetite among money managers to pile back in looking for income-bearing assets to match liabilities .The same dealers have also been reluctant to sell their inventory of long-maturity debt this year back to the Bank of England as part of its quantitative easing program in another sign of anticipated demand. This suggests they don’t want to be caught short of any bonds should investors want to buy from them.Also pushing the strong demand theme, oversubscription rates for bonds maturing in 50 years have been the highest on record since the end of last year.“With the U.K. market having most aggressively priced the re-opening story in Europe, even a mild re-assessment of the re-opening and vaccination story, should see gilts recapture some lost ground,” said Megan Muhic, a strategist at RBC Europe Limited.Next WeekEuro area bond issuance from Germany, Italy and the Netherlands is expected to total 12 billion euros next week according to Commerzbank AG; Danske Bank A/S flags that Ireland could sell a new 20-year bond through banks; Italy, Finland and Portugal pay redemptions of about 29 billion euros and coupons of over 2 billion eurosIn the U.K., the Debt Management Office will sell 1 billion pounds of its longest conventional gilt which matures in 2071 and 600 million pounds of a 30-year inflation-linked bond; the Bank of England will buy back 4.4 billion pounds of debt in three operationsData for the coming week in the euro area and Germany is thin and mostly backward-looking, with the exception of the ZEW survey numbers for April on TuesdayU.K. data is also slim with February GDP due on TuesdayECB policy maker speeches are scheduled from Isabel Schnabel, Fabio Panetta and Luis de Guindos all on Wednesday before a self-imposed quiet period kicks in ahead of the following week’s monetary policy decisionBOE policy maker Silvana Tenreyro speaks on Monday followed by Jonathan Haskel on Wednesday and Jonathan Cunliffe on FridayDBRS Ltd. reviews France on FridayFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
16h ago
BBC
'Satan Shoes' to be recalled as Nike agrees to settle lawsuit
The art collective that sold the customised sneakers will recall the shoes and offer full refunds.
2d ago
FX Empire
Price of Gold Fundamental Daily Forecast – Pressured as Yields Rise After Jump in US, China Producer Prices
Gold futures are trading sharply lower on Friday, pressured by rising Treasury yields and a stronger U.S. Dollar. The moves are likely being fueled by profit-taking ahead of the weekend, but some are saying that robust economic data from China boosted hopes of a swift recovery. A fast paced recovery will bring central banks closer to lifting their current easy monetary policy, which would pressure gold prices.
1d ago
Bloomberg
ECB Steps Up Warnings to EU Not to Delay Joint Recovery Stimulus
(Bloomberg) -- European Central Bank policy makers stepped up their pressure on the region’s governments to get on with their joint fiscal stimulus, using stronger language to warn of economic chaos for the region if politicians move too slow.Bank of Italy Governor Ignazio Visco called the European Union recovery fund “crucial” in an interview with Bloomberg TV, and Executive Board member Isabel Schnabel said separately that a long delay would be a “disaster.”ECB Vice President Luis De Guindos said it is “crucial that there not be unnecessary delays.” Bank of Greece Governor Yannis Stournaras told Bloomberg TV that he “absolutely” agrees with Schnabel and delays would mean there might not be a recovery this year.The burst of comments suggest escalating concerns, two weeks after Germany’s top court temporarily blocked that nation’s ratification of the 750 billion-euro ($892 billion) fund’s bond issue. All goverments must sign off on that step before the fund can start.The slow timeline for approving spending plans only by the end of this month and starting to disburse funds around the middle of the year is already posing a risk. As the U.S. powers ahead with its own $1.9 trillion stimulus, global bond yields are being pushed higher.The ECB has been forced to accelerate its emergency stimulus to prevent euro-area borrowing costs rising too quickly while the bloc remains bogged down in extended coronavirus restrictions because of a botched vaccine rollout.Read more: Italy’s Draghi Rushing Plans to Borrow Up to $48 Billion MoreStournaras pushed back against suggestions from his Dutch colleague Klaas Knot this week that the ECB could consider paring back its emergency bond-buying in the third-quarter, saying that’s too soon.Both he and Visco said they would rather let stimulus run too long than risk ending it too early.“We see the light at the end of the tunnel but we have to find a way to accelerate the exit from the tunnel,” Visco said, adding that ramping up vaccinations is also “crucial.”The German legal challenge would be an economic disaster for Europe if the disbursement of the funds were to be delayed indefinitely,” Schnabel said in an interview published in German magazine Der Spiegel on Friday. “If that were the case, Europe would have to think about alternative solutions, but that could take some time.”A political group filed an emergency case at the end of March claiming that the EU shouldn’t be allowed to issue the joint debt. In response, the Federal Constitutional Court said it needed to assess whether a preliminary order would be needed -- while that step isn’t uncommon and can usually be done quickly, it has raised concerns that the EU’s cumbersome setup will undermine the recovery.Schnabel, who is responsible for market operations at the ECB, warned that with equity and real-estate prices relatively high, “the risks of a correction are increasing, especially if the economic recovery falls short of expectations.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
1d ago
Bloomberg
China Fines Alibaba Record $2.8 Billion After Monopoly Probe
(Bloomberg) -- China slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. after an anti-monopoly probe found it abused its market dominance, as Beijing clamps down on its internet giants.The 18.2 billion yuan penalty is triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. had to pay in 2015, and was based on 4% of Alibaba’s 2019 domestic revenue, according to China’s antitrust watchdog. The company will also have to initiate “comprehensive rectifications,” from protecting merchants and customers to strengthening internal controls, the agency said in a statement on Saturday.The fine -- about 12% of Alibaba’s fiscal 2020 net income -- helps remove some of the uncertainty that’s hung over China’s second-largest corporation. But Beijing remains intent on reining in its internet and fintech giants and is said to be scrutinizing other parts of billionaire founder Jack Ma’s empire, including Ant Group Co.’s consumer-lending businesses and Alibaba’s extensive media holdings.Alibaba used its platform rules and technical methods like data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage,” the State Administration for Market Regulation concluded in its investigation. The company will likely have to change a raft of practices, like merchant exclusivity, which critics say helped it become China’s largest e-commerce operation.“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of Centre for Chinese Law at the University of Hong Kong. “It’s a stone that kills two birds.”Alibaba’s practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition“ in the domestic online retail market, according to the statement.The government action sends a clear warning to the tech sector as the government scrutinizes the influence that companies like Alibaba and social media giant Tencent Holdings Ltd. wield over spheres from consumer data to mergers and acquisitions.The investigation into Alibaba was one of the opening salvos in a campaign seemingly designed to curb the power of China’s internet leaders and their billionaire founders. The company has come under mounting pressure from authorities since Ma spoke out against China’s regulatory approach to the finance sector in October. Those comments set in motion an unprecedented regulatory offensive, including scuttling Ant Group Co.’s $35 billion initial public offering.Alibaba said it will hold a conference call Monday morning Hong Kong time to address lingering questions around the antitrust watchdog’s decree.“China’s record fine on Alibaba may lift the regulatory overhang that has weighed on the company since the start of an anti-monopoly probe in late December,” Bloomberg Intelligence analysts Vey-Sern Ling and Tiffany Tam said, describing the fine as a small price to pay to do away with that uncertainty.”Further ActionStill, it remains unclear whether the watchdog or other agencies might demand further action. Regulators are said for instance to be concerned about Alibaba’s ability to sway public discourse and want the company to sell some of its media assets, including the South China Morning Post, Hong Kong’s leading English-language newspaper.The Hangzhou-based firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition, and protecting businesses on its platform and consumers’ rights, the regulator said. It will need to submit reports on self-regulation to the authority for three consecutive years.“Alibaba accepts the penalty with sincerity and will ensure its compliance with determination. To serve its responsibility to society, Alibaba will operate in accordance with the law with utmost diligence, continue to strengthen its compliance systems and build on growth through innovation,” the company said in a statement on Saturday.Faced ChallengesChief Executive Officer Daniel Zhang said in a memo to employees on Saturday that Alibaba always reflected and adapted when it faced challenges. He called for unity among staff, saying the company should “make self-adjustments and start over again.”The Communist Party-run People’s Daily newspaper said in a commentary on Saturday that the punishment involves specific anti-monopoly measures regulatory authorities take to “prevent the disorderly expansion of capital.”“It doesn’t mean denying the significant role of platform economy in overall economic and social development, and doesn’t signal a shift of attitude in terms of the country’s support to the platform economy,” the newspaper said. “Regulations are for better development, and ‘reining in’ is also a kind of love.”(Updates with company’s comment from 14th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
12h ago
Bloomberg
Stocks Notch Longest Weekly Rally Since October: Markets Wrap
(Bloomberg) -- Stocks climbed to another record as investors shrugged off concern over inflation and focused on prospects for an economic rebound. Treasuries fell, while the dollar advanced.The S&P 500 closed above 4,100 and posted its third-straight weekly rally -- the longest winning streak since October. Volume on U.S. exchanges hit a new low for this year. Honeywell International Inc. led gains in the Dow Jones Industrial Average on an analyst upgrade. Boeing Co. retreated after grounding dozens of 737 Max jets to repair an electrical flaw that emerged in recently delivered models.Equities extended a surge from their March 2020 lows to about 85% as Federal Reserve officials reassured markets that policy will remain supportive. Vice Chairman Richard Clarida said the Fed is looking for evidence on whether it’s reaching the goals on price stability and employment before adjusting rates. Still, a report showing the rise in producer prices added fuel to the debate about the path of inflation.“It’s noisy data,” said Giorgio Caputo, senior fund manager at J O Hambro Capital Management. “It’s important to remember the positive elements of what is actually happening -- prices are going up because we’re getting demand back together.”These are some of the main moves in markets:StocksThe S&P 500 climbed 0.8% at 4 p.m. New York time.The Stoxx Europe 600 Index gained 0.1%.The MSCI Asia Pacific Index decreased 0.5%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.1%.The euro fell 0.1% to $1.1904.The Japanese yen weakened 0.4% to 109.65 per dollar.BondsThe yield on two-year Treasuries rose one basis point to 0.16%.The yield on 10-year Treasuries rose four basis points to 1.66%.The yield on 30-year Treasuries rose two basis points to 2.33%.CommoditiesWest Texas Intermediate crude fell 0.5% to $59.32 a barrel.Gold slid 0.7% to $1,742.83 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
23h ago
MoneyWise
Fourth stimulus check: Lawmakers pressure Biden to say yes to more payments
The president is being urged to roll more direct aid money into his infrastructure bill.
7h ago
Bloomberg
H-Energy’s Ex-Dubai-Based LNG Trading Arm Being Liquidated
(Bloomberg) -- A liquefied natural gas trading company that was until recently based in Dubai and part of India’s Hiranandani Group is being liquidated, according to a letter to creditors seen by Bloomberg News.HE Mideast Ltd. had insufficient funds to meet its debts, according to the letter, dated April 1, seen by Bloomberg. The firm defaulted on at least $50 million worth of debt to LNG suppliers including Malaysia’s Petroliam Nasional Bhd and Royal Dutch Shell Plc, said people with knowledge of the matter.The company took speculative positions on physical and paper LNG trades over the last few years, which strapped them with debt they were unable to repay, said the people, who requested anonymity as the matter is private.Novato Investing Ltd., current owner of HE Mideast, declined to comment on any liquidation. Shell declined to comment, and Petronas didn’t respond to a request to comment. Petronas signed a supply deal with the company in 2018. Shell and Petronas declined to comment.Novato has appointed FTI Consulting as liquidator for HE Mideast, and will hold its first meeting with creditors on April 20, according to the letter to creditors. FTI declined to comment.HE Mideast changed its name from H-Energy Mideast DMCC in July 2020, and was established as a Dubai-based trading firm by H-Energy Global Ltd. in 2014, according to a certificate of name change and trading license seen by Bloomberg News. The company recently had ownership transferred to Novato Investing Ltd. and was re-domiciled to the British Virgin Islands, the people said.H-Energy Global, a member of India’s Hiranandani Group, is a smaller, new entrant in the LNG space.(Updates with no comment from Shell and Petronas in the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
1d ago
Bloomberg
Stocks Climb on Powell’s Reassurance; Dollar Falls: Markets Wrap
(Bloomberg) -- Stocks climbed as Federal Reserve Chairman Jerome Powell said the central bank has the tools to curb any inflation pressures, which are expected to be temporary as the economy reopens.The S&P 500 notched a fresh record amid slow trading. Volume on U.S. exchanges remained under 10 billion shares, hitting another low for the year. The Nasdaq 100 outperformed major equity benchmarks as giants such as Apple Inc. and Tesla Inc. rallied. Energy producers and banks retreated. Treasuries rose, while the dollar fell.One day after the Fed’s March minutes struck a dovish tone for the path of monetary policy, Powell said the central bank would react if inflation expectations started “moving persistently and materially” above levels officials are comfortable with. He also noted that disparate efforts to vaccinate people globally is a risk to progress for the economic rebound, which remains “uneven and incomplete.”“The doves are in control, and today’s cautious comments from Fed Chair Powell delivered another reiteration of their ultra-accommodative stance,” said Edward Moya, senior market analyst at Oanda in New York.Meanwhile, Fed Bank of St. Louis President James Bullard said it’s too soon for central bankers to discuss tapering asset purchases as long as the pandemic continues. Data Thursday showed applications for U.S. state unemployment insurance unexpectedly rose for a second week, underscoring the choppy nature of the labor-market recovery.Some key events to watch this week:China’s consumer and producer prices data are due Friday.These are some of the main moves in markets:StocksThe S&P 500 rose 0.4% at 4 p.m. New York time.The Stoxx Europe 600 Index climbed 0.6%.The MSCI Asia Pacific Index gained 0.3%.CurrenciesThe Bloomberg Dollar Spot Index slid 0.3%.The euro advanced 0.4% to $1.1917.The Japanese yen appreciated 0.5% to 109.27 per dollar.BondsThe yield on two-year Treasuries fell one basis point to 0.15%.The yield on 10-year Treasuries slid five basis points to 1.62%.The yield on 30-year Treasuries fell five basis points to 2.31%.CommoditiesWest Texas Intermediate crude settled at $59.60 a barrel.Gold strengthened 1.1% to $1,756.68 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2d ago
CoinDesk
Bitcoin Price Shoots Past $60K, Ether Hits New All-Time High in Early Saturday Trading
The price action comes just ahead of a highly anticipated Nasdaq listing for leading U.S. crypto exchange Coinbase.
15h ago
MarketWatch
Whether you’re retiring in 30 years or 5 years, you still need to do this one thing religiously
Investing is a crucial part of accumulating enough money in retirement — and the best results come with proper asset allocation. Retirement tip of the week: Check the asset allocation of your retirement portfolios, and if you’ve done it recently, make it a regularly scheduled task once a year. “The time to review your asset allocation and overall retirement investment strategy should be a proactive process throughout the year,” said Jon Ulin, chief executive officer of Ulin & Co. Wealth Management.
6h ago
MarketWatch
‘51% to go’: Reddit crowd rejoices at report that Melvin Capital rang up a 49% first-quarter loss
Melvin Capital is giving the Reddit crowd something to cheer about on a Friday, after the hedge fund rang up a 49% first-quarter loss, according to a report from Bloomberg News on Friday.
22h ago
Investopedia
Must-Know Rules for Converting a 401(k) to a Roth IRA
You should be able to roll over your 401(k) plan account into a Roth IRA, but be sure you first understand the tax consequences of doing so.
1d ago
Reuters
S&P 500, Dow climb for third day and close at records
(Reuters) -The S&P 500 and the Dow rose on Friday to close at record highs, posting a third straight weekly rise partly on a lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. A pullback in the 10-year U.S. Treasury yield from a 14-month high hit in late March encouraged buying in growth.
1d ago
TipRanks
JPMorgan Says These 2 Stocks Could Surge Over 80%
After a volatile first quarter, Q2 has kicked off in style, and the major indexes sit at – or hover near – all-time highs. The government bond market has also been steadying as yields have pulled back after rising higher earlier in the year, soothing investor fears that inflation could get out of hand. Moreover, the economic recovery seems to be gathering steam at a faster pace than anticipated. “We had been expecting the data to improve about this time, and early signals are that the recovery is absolutely on track,” said Hugh Gimber, J.P. Morgan’s global market strategist. “This is the period where the forecast of a strong recovery in growth is starting to look more like the fact of a strong recovery in growth.” Against this backdrop, the analysts at J.P. Morgan have pinpointed 2 names which they believe are set for strong growth in the year ahead; both are expected to handsomely reward investors with at least 80% of gains over the coming months. We ran them through TipRanks database to see what other Wall Street's analysts have to say about them. Tencent Music Entertainment (TME) We’ll start in China, where Tencent Music Entertainment is the offspring of China’s giant online venture company, Tencent, and Spotify, the Swedish streaming company that makes music and playlists easy. Tencent Music has seen consistently strong sales and earnings for the past year, with the top line growing year-over-year in each quarter of 2020. The Q4 report showed $1.26 billion in the top line, the highest in the last two years, along with 12 cents per share in earnings, up 33% year-over-year. Strong streaming revenue, which showed 29% growth, helped drive the results. And, Tencent Music, through its variety of apps, is the top music streaming service in the Chinese online market – as shown by the 40.4% yoy increase in paid subscribers during Q4. In its quarterly results, the company reported 4.3 million net new users in Q4, to reach 56 million active premium accounts across its apps. That said, the stock has pulled back sharply recently, as like many other high-flying growth names, worries regarding an overheated valuation have come to the fore. But pullbacks often spell opportunity, and covering the stock for JPM, Alex Yao notes the strong subscription growth, as well as the potential in the company’s other businesses, online ads and long-form audio, for monetization. “We believe TME is entering a healthy development cycle with successive growth engines: 1) music subscription remains the core revenue driver with consistent paying ratio improvement, 2) ads revenue ramps up quickly, and 3) active investments in long-form audio initiative, which could become a new growth driver in 2022 and afterwards," Yao noted. To this end, Yao puts a $36 price target on TME, suggesting a one-year upside of 84%, to back his Overweight (i.e. Buy) rating on the stock. (To watch Yao’s track record, click here) Overall, TME has a thumbs up from Wall Street. Of the 11 reviews on record, 7 are to Buy, 3 are to Hold, and 1 says Sell, making the analyst consensus a Moderate Buy. The shares are priced at $19.50, and their $30.19 average price target implies an upside of 55% for the months ahead. (See TME stock analysis on TipRanks) Y-mAbs Therapeutics (YMAB) The next JPM pick we’re looking at is Y-mAbs, a late-stage clinical biopharma company with a focus on pediatric oncology. The company is working on the development and commercialization of new antibody-based cancer therapeutics. Y-mAbs has one medication – Danyelza – approved for use to treat neuroblastoma in children age 1 and over, and a ‘broad and advanced’ pipeline of drug candidates in various stages of the clinical process, as well as five additional products in pre-clinical research stages. Having an approved drug is a ‘holy grail’ for clinical biopharmaceutical companies, and in 4Q20 Y-mAbs saw considerable income from Danyelza. The company announced at the end of December that it had agreed to sell the Priority Review Voucher for the drug to United Therapeutics for $105 million. Y-mAbs will retain the rights to 60% of the net proceeds from the sale, under an agreement with Memorial Sloan Kettering. Also in December, the company announced a license agreement with SciClone. The partnership gives Y-mAbs and Danyelza an opening for treating pediatric patients in China. The agreement includes Mainland China, Taiwan, Hong Kong, and Macau, and is worth up to $120 million for Y-mAbs. The company has entered other agreements making Danyelza available in Eastern Europe and Russia. Danyelza is Y-mAbs flagship product, but the company also has omburtamab in advanced stages of the pipeline. This drug candidate saw a setback in October last year, when the FDA refused to file the company's Biologics License Application, proposed for the treatment of pediatric patients with CNS/leptomeningeal metastasis. Y-mAbs has been in steady communication with the FDA since then, with a new target date for the BLA at the end of 2Q21 or early in 3Q21. These two drugs – one approved and one not yet – form the basis of the JPM outlook on this stock. Analyst Tessa Romero writes, “Our thesis revolves around the de-risked nature of the pediatric oncology pipeline. Our recent KOL feedback is enthusiastic about use of lead asset Danyelza in patients with high-risk neuroblastoma (NB). For second lead asset omburtamab in NB metastatic to the central nervous system (CNS/LM from NB), while the ‘Refuse to File’ last year and subsequent regulatory delays were certainly disappointing, we still see a high probability of approval for the product in the 2Q/3Q22 timeframe…” Looking ahead, Romero sees an upbeat outlook for the company: “Coupling our anticipation of a healthy launch for Danyelza, with regulatory/clinical momentum expected in the near- to mid-term, we see shares poised to rebound and see an attractive buying opportunity at current levels.” The analyst puts a $52 price target on YMAB shares, implying an upside of 86% for the year ahead, and supporting an Overweight (i.e. Buy) rating. (To watch Romero’s track record, click here) Overall, the Wall Street reviews break down 3 to 1 in favor of Buys versus Holds on Y-mAbs, giving the stock a Strong Buy consensus rating. The shares have an average price target of $61.25, suggestive of a 121% upside potential this year. (See YMAB stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
1d ago
Black Enterprise
Citigroup, Wells Fargo, Bank of America, Goldman Sachs And JPMorgan Urge Shareholders To Vote Against Racial Equity Oversight
Five of the nation's largest banks are asking shareholders to reject racial equity resolution audit less than a year after the Black Lives Matter movement
2d ago
Bloomberg
Arm Battle With China CEO Escalates, Complicating SoftBank Sale
(Bloomberg) -- The battle for control of Arm Ltd.’s China business is escalating with new lawsuits aimed at keeping the unit’s controversial chief executive in power, further complicating SoftBank Group Corp.’s efforts to sell the business to Nvidia Corp.The dispute erupted almost a year ago in June after the board voted to oust Arm China Chief Executive Officer Allen Wu for conflicts of interest, but he refused to leave. Now the Chinese unit, which remains under Wu’s control, has filed lawsuits against three senior executives the board designated to replace him, according to people familiar with the matter. The previously unreported suits could take years to resolve, suggesting Wu may remain entrenched.Wu fired the three men -- including co-CEO Phil Tang -- but they were subsequently reinstated by the board. In the new lawsuits, Arm China is suing the trio, demanding they return company property, according to the people.Arm China declined to comment on any ongoing legal cases or possible settlement talks. It did say the three executives had caused “material damages” to the company and they had been terminated for legitimate reasons.Tang didn’t return requests for comment. Arm Ltd. declined to elaborate, saying it won’t comment on pending legal matters.The complex tussle has thrown into question the future of Arm, whose semiconductor technology is the world’s most widely used for smartphones and is increasingly deployed in computers. SoftBank founder Masayoshi Son agreed to sell the British chip designer to Nvidia for $40 billion last year, but the path for completing that transaction is growing increasingly difficult.The China dispute also raises questions about Beijing’s willingness to protect foreign investment in the world’s second-largest economy. Arm Ltd. sold a majority stake in the China unit to a consortium of investors, including Beijing-backed institutions. That has complicated the British firm’s efforts to manage Arm China and Wu, who has support from local authorities in Shenzhen.Both sides appear to be at a stalemate. Wu, a Chinese-born U.S. citizen, pulled back from signing settlement agreements worth tens of millions of dollars if he would leave the company, the people said, asking not to be identified talking about legal matters. At the same time, two minority shareholders in Arm China linked to Wu have filed lawsuits to overturn his June 4 dismissal, they said.SoftBank opened negotiations with him last year and had hoped to reach some sort of resolution, they said. Instead the court battles are deepening and the Japanese company has soured over the increasingly complicated dispute, the people said. SoftBank is now resigned to letting the legal proceedings take their course and there are no current negotiations with Wu, according to one of the people.“We are going through a leadership change in China; it’s taking time to resolve,” said Arm Ltd.’s Chief Executive Officer Simon Segars in an interview with Bloomberg Television recently. “It’s hard. But we are confident that’s going to get resolved.”SoftBank and Nvidia declined to comment on the dispute in China.Arm China said in a statement that Wu’s position “is compliant with legal registration and confirmed by China law and regulations.”Read more: Arm Takes Aim at Intel Chips in Biggest Tech Overhaul in DecadeThe standoff accords a relatively unknown executive outsized influence over one of the industry’s most important pieces of technology, in the world’s biggest internet and semiconductor market. Chinese companies need unfettered access to Arm’s products to push forward with the country’s attempts to make itself more independent in chip technology, an area where it’s largely reliant on imports. Beyond resolving the stalemate, Nvidia and SoftBank also need Beijing’s signoff to seal their deal, and it’s unclear whether Wu’s presence would complicate that.Wu’s hold on Arm China is partially due to local laws which make it difficult to change control of a company unless you’re physically in control of the company stamp and registration documents. He’s refused to give them up and has used company funds to pay for legal fees incurred in his attempt to fight off his dismissal, the people said.Arm China said payment of legal fees “is made in compliance with company policies as well as China laws and regulations.”His ultimate goals appear to be a large cash payoff and immunity from subsequent legal action, according to people who’ve spoken with him. Inside Arm China, which is responsible for selling licenses to its chip designs and fundamental technology in the country, Wu has told local staff he’s not going anywhere. He recently gave employees Chinese New Year cash presents in a red envelope with his surname on it.Arm China said the money came from Wu personally to show his appreciation to colleagues, a tradition at Chinese New Year in the country.Hearings in the case against the three executives are expected to take place in late May, one of the people said. Separately, two minority shareholders in Arm China have sued the Chinese entity in Shenzhen to nullify the board’s decision to oust Wu. These two cases are now being merged and hearings are slated for late April, the people said.Son told investors as recently as February that he expects to close the Arm sale and “I don’t have any Plan B.”Arm, for its part is trying to make sure that its technology remains pervasive in China despite U.S. sanctions intended to curb the supply of American technology to major companies like Huawei Technologies Co. While Arm is a U.K.-based company part of its operations are in the U.S. making its products subject to controls.The Chinese government has not stated its position on the Arm China leadership struggle, but the unit has several government-backed shareholders including sovereign wealth fund China Investment Corp. and the Silk Road Fund.In his interview with Bloomberg Television, Arm Ltd. CEO Segars said that the ten-month standoff hasn’t hurt Arm’s business in China. Lack of travel for face-to-face meetings during the pandemic has prolonged the process of changing leadership in China, he said.“When we announced the deal in September, we said it would take about 18 months,” he said. “We remain confident in that timeline.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
20h ago
Barrons.com
The Electric-Vehicle Future Is Nearly Here. This Overlooked Auto Components Giant Is Ready.
For all the hard-charging talk about electric cars, you might think that they were taking over the U.S. market. Electric cars there are suddenly 14% of the market, or 23% if we count plug-in hybrids that burn fossil fuel for backup. In the U.S., meanwhile, a $7,500 credit for every electric vehicle phases out after companies sell 200,000 of them, so (TSLA) (ticker: TSLA) and (GM) (GM), the biggest EV players, no longer benefit.
22h ago
MarketWatch
Alphabet CEO Pichai sells more stock as prices rally to a record
Alphabet Inc. Chief Executive Sundar Pichai sold another chunk of shares this week, valued at nearly $7 million, as the stock surged to record highs.
1d ago
MarketWatch
Jessica Alba’s Honest Co. files for IPO
The Honest Co., the consumer-products company co-founded by actress Jessica Alba, has filed for an initial public offering.
23h ago

2015 MOBILITY AWARD
Smartphones
	Consumer	Apple iPhone 6
	Industrial, rugged	Samsung Galaxy S5 Active
	Phablets	Samsung Galaxy Note 3
Wearables
	Smart Watches	Moto 360 (Lenovo)
Tablets
	Large screen	Apple iPad Air
	Small Screen	Apple iPad Mini
	eBook Readers	Amazon Kindle
	Industrial, rugged	Panasonic Toughbook FZ-G1
Notebooks/Laptops
	Ultraportables & Ultrabooks (SSD)	Apple MacBook Air (13")
	Convertible/Detachable (11"-13")	Microsoft Surface Pro 3
	Productivity notebooks (14"-15.6")	Apple MacBook Pro
	Large screen (16" or greater)	Lenovo Essential G Series Laptop
	Industrial, rugged	Panasonic Toughbook Series
Technology Innovation
	Software	EyeVerify Eyeprint Verification
	Hardware	Uber (Ridesharing Service)
Mobile Device Hardware
	Accessories	Duracell Powermat (DPM) wireless charging
Mobile Software
	SmartPhone and/or tablet OS	Google Android
	Application Development (Consumer)	Adobe Air
	Mobile Gaming Platforms	Electronic Arts
	Browsers & Enhancements	Google Chrome
	Network Software & Services & Analytics	Ericsson
	Speech-Based Services	Google Voice Search
	Productivity	Office 365 for iOS
Wireless Communications
	Cellular Network Hardware	Verizon Wireless LTE Network
	Cellular Network Software & Services	Verizon Wireless
	Device & Network Analytics	CarrierIQ
	Wi-Fi	Boingo Wi-Fi service
	Femtocells/Small Cells/Signal Boosters	Airvana's Hubbub Femtocell
	Mobile VoIP	Microsoft Skype
Mobile Apps
	Testing/Certification	Keynote Platform
Enterprise Mobility
	Platforms	Qualcomm The 2net Platform and 2net Hub
	Mobile Video Conferencing	Vidyo
	Application Development (Native & Web)	IBM Worklight
	Mobile Device Management (MDM)	AirWatch by VMware MDM
	Mobile App Management (MAM)	AirWatch by VMware MAM
	Mobile Content Management (MCM)	Dropbox
	Integrated Mobile Management (Suite)	AirWatch By VMware EMM Suite
Messaging & Alerts
	Alerting Services	Google Alerts
	Integrated Messaging	WhatsApp
Mobile Services
	On-Device	AirWatch by VMware
	Biometrics	EyeVerify Eyeprint Verification
	Content Delivery	Flipboard
	File sharing (Cloud)	Box
	Location Based Services	Google Maps / Navigation
	Social Networking	Twitter
	Prevent Texting While Driving	Safely Go by Location Labs
	Streaming music	Pandora Internet Radio
	Mobile Video Services	Microsoft Skype
	Mobile Search	Google
	Customer Care	Nuance Mobile Customer Service
Mobile Marketing
	Mobile Couponing	Scanbuy
	Mobile Marketing Platforms	Phunware MaaS
	Mobile Advertising	Google AdMob
	Mobile Ad Networks	Opera MediaWorks
	Mobile Ad & App Analytics	Flurry by Yahoo
	Near Field Comms (NFC)	Samsung NFC
Mobile Commerce
	Mobile Purchase of Digital Assets	Boku
	Mobile Cash Transfer	SAP mCommerce
	Mobile Payments	PayPal
	Integrated Mobile Commerce	Ericsson Wallet Platform
	Mobile Banking and Payments	SAP mBanking Solutions
Rookie of the Year		SmartThings (A Samsung Electronics Company)
M&A Transaction		Microsoft acquires Nokia
Enterprise Product Innovation of the Year		Atheer Labs

2015 A-LIST IN M2M AWARDS
A-List M2M Company of Excellence
	M2M Cellular Service Provider of the Year	AT&T
	M2M Satellite Service Provider of the Year	Orbcomm
	M2M IoT Enabler Company of the Year	Numerex
	M2M Semiconductor / Module Company of the Year	ARM
	M2M Sensor Company of the Year	GE
	M2M Enabling Technology of the Year	ThingWorx, A PTC Business
	M2M Emerging Company of the Year	Camgian Microsystems
	M2M Embedded Hardware Company of the Year	Sierra Wireless
	M2M App Development / Enablement Platform of the Year	ThingWorx, a PTC Business
	M2M OSS BSS Platform of the Year	Jasper Wireless
	M2M Enterprise Software Company of the Year	SAP
	M2M Large System Integrator Company of the Year	IBM
	M2M Network Equipment / Technology Company of the Year	Ericsson
	M2M Project/Deployment of the Year	AT&T-GM
	M2M Innovative Product / Solution of the Year	AT&T (for OnAsset Implementation)
	M2M Security Platform of the Year	Numerex
	Gateways for Branch Offices, Fast Food, Casual Dining, etc.	Cradlepoint
	M2M Battery Technology/Product of the Year	Panasonic
	M2M Enabling /company of the Year	Axeda
A-List IoT Company of Excellence
	Connected Home Device of the Year	Nest Labs (a Google Company)
	Connected Home Company of the Year	Google
	Connected Home Retail Outlet of the Year	Amazon
	Connected Home Platform of the Year	Revolv (a Google Nest Company)
	Connected Car Device of the Year	Delphi Connect
	Connected Car Platform of the Year	Ericsson
	Consumer Wellness Product of the Year	Fitbit
	Personal Emergency Response Company of the Year	Philips Lifeline
	IoT Emerging Company of the Year	SenseIoT
	IoT Innovative Product of the Year	Camgian Microsystems
	Most Connected Device Platform	wot.io
	Connected Vehicle of the Year	Audi A3
	Smart Appliance of the Year	Samsung

2015 BAMBOO MOBILE GREEN TECHNOLOGY AWARDS
	Consumer Mobile Recycling/Buyback Program (In-store)	ecoATM
	Consumer Mobile Recycling/Buyback Program (Online)	Best Buy
	Consumer Mobile Recycling/Buyback Program (Overall)	Best Buy
	Business Mobile Recycling/Buyback Program (Overall)	Arrow Value Recovery
	Recycling/Buyback Support Vendor	HYLA Mobile
	Most Eco-Focused Carrier	Sprint
	Best Green Designed Device/Product	Apple
	Eco/Green Innovator	HYLA Mobile

2015 CUSTOMER & DIGITAL EXPERIENCE AWARDS
	Top Wireless Business Experience Award (Carrier)	AT&T
	Top Wireless Consumer Experience Award (Carrier)	AT&T
	Top Creative Digital Experience Award	Samsung Mobile
	Best Purchasing Experience for Business Users	Verizon Wireless
	Best Purchasing Experience for Consumers	T-Mobile
	Top Customer & Digital Experience Platform	Samsung Knox

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Compass Intelligence Announces Winners of the 2015 Mobility Awards, A-List in M2M, Green Technology and Customer & Digital Experience Awards

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