ASIA

Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No. 2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the …

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China markets tank as protests erupt over Covid lockdowns

Hong Kong CNN Business — China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment. Hong Kong’s Hang Seng (HSI) Index fell as much as 4.2% in early trading. It was last down 3.5%. The Hang Seng (HSI) …

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Morocco vs Belgium: Big World Cup upsets as Atlas Lions shock Red Devils and Costa Rica defeats Japan

CNN — It was a day of big upsets at the World Cup as Belgium and Japan both succumbed to shock defeats against Morocco and Costa Rica respectively. Morocco won its first World Cup match since 1998 – and its third ever – securing a sensational 2-0 victory over heavyweight Belgium to ensure that it …

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Germany looks to bounce back from shock defeat and revive World Cup hopes against dangerous Spain

CNN — If Germany is to avoid the ignominy of consecutive World Cup group stage exits, it will need to earn a positive result against a Spain side that looked like the tournament’s most dangerous team after the opening round of fixtures. Finishing bottom of the group at Russia 2018, a tournament Germany went into …

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Apple has a huge problem with its supplier’s iPhone factory in China

Hong Kong CNN Business — A workers’ revolt at the world’s largest iPhone factory this week in central China is further scrambling Apple’s strained supply and highlighting how the country’s stringent zero-Covid policy is hurting global technology firms. The troubles started last month when workers left the factory campus in Zhengzhou, the capital of the …

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Kris Wu: Chinese-Canadian pop star sentenced to 13 years in prison for rape in China

Hong Kong CNN — A Chinese court in Beijing has sentenced Chinese-Canadian pop star Kris Wu, also known as Wu Yifan, to 13 years in jail after finding him guilty of sexual offenses, including rape, the court said in a post on its official Weibo account. Wu rose to fame as a member of popular …

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BTS singer Jin set to begin South Korea military service, source says

Seoul, South Korea CNN — K-pop superstar Jin will begin his mandatory military service next month, a source with direct knowledge of the situation confirmed Friday, after the BTS singer appealed to the supergroup’s devoted fans to stay away from his South Korean army training center. The source said the 29-year-old star, BTS’ oldest member, …

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Nexperia and Elmos cases show how the US-China chip war is spilling over to Europe

Hong Kong CNN Business — Two European chip deals have run into trouble over their links with China, a sign of concern spreading in the West over potential Chinese control of critical infrastructure. Last week, the new owner of Britain’s biggest chipmaker was ordered to unwind its takeover, just days after another chip factory sale …

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Foxconn’s woes to take bigger toll on giant China iPhone plant as more workers leave – source

Foxconn Zhengzhou plant’s Nov shipments to fall further – source Worker unhappiness at plant escalated into protests this week Over 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone plant in China is set to see its November shipments further reduced by the latest bout of …

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Consumer inflation in Japan’s capital rises at the fastest pace in 40 years

Tokyo Nov core CPI up 3.6% vs f’cast +3.5% Tokyo CPI stays above BOJ’s 2% target for the 6th straight month Data underscores broadening inflationary pressure TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and …

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