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Latest: Fintech News

Alibaba Pulls Plug on Cloud Unit Spin-Off Over US Chip Curbs
Alibaba Pulls Plug on Cloud Unit Spin-Off Over US Chip Curbs

The e-commerce outfit had unveiled plans in March to list its cloud business as part of the biggest restructuring in its 24-year history

SoftBank Accused of Deliberately Trashing Social Media App – FT
SoftBank Accused of Deliberately Trashing Social Media App – FT

The Japanese tech investment house claimed IRL’s app was populated by ‘bots’ but its founders say SoftBank invented the accusation to close it down

Tencent to Turn to Chinese Chips as US Bans Risk Cloud Service
Tencent to Turn to Chinese Chips as US Bans Risk Cloud Service

Tencent is the second large Chinese technology company to look for domestic alternatives to Nvidia amid tightening US sanctions

China Claims Fastest Internet Link: 1.2 Terabits a Second – SCMP
Huge Huawei Sales Boom Turns Around China Smartphone Market
Hang Seng, Nikkei Lead Asian Stocks Higher on Soft US Inflation
China’s Xi to Court US Firms at Pricey San Francisco Dinner
Report Explains How China Got Round US’s Initial Chip Curbs
China Plans New Checks For Auditors, Accounting Firms
Kishida-Xi Talks May Touch on Arrests Killing Bilateral Business

Fintech: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors