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Latest: Fintech News

Foxconn Spends $62.5 Million on New Vietnam Site – SCMP
Foxconn Spends $62.5 Million on New Vietnam Site – SCMP

The world’s largest manufacturer of electronic parts has recently ramped up efforts to diversify production outside of China

SoftBank’s Chip Tech Firm Arm China Sees 90% Drop in Profit
SoftBank’s Chip Tech Firm Arm China Sees 90% Drop in Profit

The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm

Tether Gains After Investors Pull $2.5bn from Binance Coin
Tether Gains After Investors Pull $2.5bn from Binance Coin

Most of the $2.5 billion that flowed out of Binance's stablecoin this week, after US regulators put a spotlight on the token, has gone to Tether; meanwhile, the US has charged Do Kwon with fraud

TikTok Plans More Data Centres in Europe Amid Security Concerns
Top China Dealmaker Bao Fan Disappears, Bank Stock Plunges
TSMC Dumped by Several Funds Other Than Buffett’s Berkshire
China Aiming to Boost Consumer Spending and Childcare
ASML Accuses China Employee of Chip Tech Theft – FT
Air India’s ‘Historic’ $80bn Deal Took Months of Secret Talks
TSMC Shares Fall as Buffett-Backed Berkshire Dumps Stake

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