The fortunes of Foxconn, Apple’s main supplier, are closely tied to the US iPhone maker. As iPhone 12 sales soared, so did first-quarter profits at Hon Hai, as Foxconn is listed in Taiwan. Foxconn’s efforts to reduce its reliance on Apple will prove costly. In the last quarter, net income rose to NT$28.2bn ($1bn) with…
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Good morning from New York. Today we are proud to launch our second Moral Money Forum report. This time we are diving headfirst into the environmental social and governance (ESG) world’s alphabet soup problem and we’d like to thank everyone who answered our call for input on how they think it could be fixed. Read…
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The UK’s vaccines minister said on Friday that the jab rollout programme may be adapted to deal with the growing spread of a new Covid-19 variant in some parts of the country. Ministers are concerned that infections from the variant known as B. 1.617.2, which originated in India, are spreading rapidly in some communities. There…
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Apple supplier Foxconn reported a 13.5-fold jump in net profit for the first quarter of 2021 compared with the same period last year, when the company’s China-based factories were heavily hit by the first pandemic lockdown. Net earnings at the world’s largest contract electronics manufacturer were NT$28.2bn (US$1bn), up from just NT$2.1bn a year earlier,…
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This week our experts brought you the following insights based on their experience as investors, entrepreneurs & executives. Monday Ilias Hatzis our Greece-based crypto entrepreneur (Founder & CEO at Kryptonio a “keyless” non-custodial bitcoin and cryptocurrency wallet, that lets users manage bitcoin and crypto, without private keys or passwords and Weekly Columnist at Daily Fintech) @iliashatzis…
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A subsidiary of Japanese industrial conglomerate Toshiba said its European operations were hit by a cyber attack earlier this month that appeared to have been perpetrated by the hacker group DarkSide. DarkSide has been blamed by the FBI for the ransomware attack on the Colonial petroleum pipeline last week that caused a five-day shutdown of…
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The UK and the UN are exploring the possibility of a special vaccination programme to ensure the global climate conference in Glasgow can proceed face-to-face in November. Pressure is building on the UK to find a way to safely host the UN COP26 in person as climate ministers say face-to-face discussions are imperative, while a…
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HCA Healthcare and University Health didn’t see a way to meaningfully expand their market share in the competitive Atlanta market, leading to a string of recent hospital deals that are poised to benefit Piedmont Healthcare, merger and acquisition experts said. Piedmont will add seven hospitals to its current 11-hospital footprint via back-to-back transactions, courtesy of…
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Companies to borrow £ 7 billion less this year as UK economy rebounds New figures out from Leading accountants Ernst and Young suggest that companies will be borrowing less this year as the UK economy bounces back strongly. While this is not too surprising, the Bank of England says that the UK has not seen…
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One. That’s the number of African tech companies that have gone public on the NYSE in the last 10 years. Two, if you’re counting local exchanges. The former is African-focused e-commerce company Jumia and the latter is Egyptian fintech company Fawry. As a tech company, Fawry’s listing on the Egyptian Stock Exchange is a rarity.…
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