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Latest: Fintech News

China’s Top Bank Paid Ransom After Cyber Attack, Gang Says
China’s Top Bank Paid Ransom After Cyber Attack, Gang Says

Notorious hacking gang Lockbit claims the Industrial and Commercial Bank of China paid a ransom to resolve the attack on the bank's unit in the United States

Japan Pledges $13bn to Boost Chip Sector Leadership Bid
Japan Pledges $13bn to Boost Chip Sector Leadership Bid

Tokyo is set to issue nearly $59.8 billion in bonds to fund the commitment, raising concerns in some quarters about ballooning debt

China’s Didi Posts Quarterly Profit as Comeback Continues
China’s Didi Posts Quarterly Profit as Comeback Continues

The ride-hailing outfit’s three-month surplus was its first since 2021 when it was the target of China’s cyberspace regulator

India Pondering EV Tariff Cuts to Tempt Tesla – FT
China’s Focus on High-Tech Manufacturing Spurs Trade Fears
Biden Keen to Resume Military Ties With China to Avoid Flare-ups
Chinese Chipmaker Sues Micron For Alleged Patent Infringements
‘Serious’ Cyber Attack Halts Work at Four Australian Ports
China’s E-Commerce Giants Say Sales up on Singles Day
US Playing a ‘Sad Game’ With Nvidia, Chip Firms: Chinese Media

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