China’s Startups Attract Record Funding Despite Tech Clampdown

Unlike in previous years, when most Chinese tech funding went to internet startups in e-commerce, the bulk of the money in the past year headed into areas that hew more closely to Communist Party priorities, such as semiconductors, biotechnology and information technology. Venture-capital investors put $129 billion into more than 5,300 startups in China in … Read more

Covid-19 Pill Developer to Spend SPAC IPO Funds on Clinical Trial, Hiring

Biopharmaceutical firm Pardes Biosciences Inc. plans to spend a large chunk of the funds it raised through a public offering late last month on a pill it is developing to treat Covid-19, including on manufacturing and hiring more clinical staff. The clinical-stage company, which is based in Carlsbad, Calif., on Dec. 27 listed on Nasdaq … Read more

Hungry for Chips, Huawei Invests in Chinese Companies That Make Them

HONG KONG—Blocked by the U.S. from buying many of the chips it needs, Huawei Technologies Co. is stepping up investments in companies that are racing to build China’s semiconductor supply chain. The Chinese technology giant is investing in the companies through a fund that it launched in 2019, around the time Washington began putting export … Read more

John Legend Sells His Music Catalog to KKR, BMG

KKR & Co. Inc. and BMG have acquired the songwriting catalog of John Legend. The deal, disclosed in a regulatory filing, closed last fall and illustrates how red-hot the market for music investments has become. Mr. Legend, at 47 years old—still an active songwriter, recording artist and performer—is younger and earlier in his career than … Read more

Four attractive investment options in a high interest rate scenario

As far as surplus liquidity is concerned, the normalisation process has accelerated in the US with the Federal Reserve initiating the tapering of bond purchases by $15 billion. This amount has been subsequently enhanced to $30 billion due to high inflation. In India, the Reserve Bank of India (RBI) intensified the process of liquidity normalisation … Read more

The market may be ignoring risk of Omicron shutdowns

The Dow fell more than 530 points Friday, about 1.5%, as fears grew that the Fed could potentially cause an economic slowdown by tightening too aggressively. Such concerns are global: Investors everywhere are worrying about inflation and the likelihood central banks will follow the Bank of England’s lead and soon raise their own interest rates. … Read more

Inflation is bad enough. One country is making it even worse

You can quibble over the timing or the size of interest rate hikes, but just about every economist agrees that when prices rise quickly, higher borrowing costs can help reduce demand and inflation. Not in Turkey, however, where President Recep Tayyip Erdogan has repeatedly pushed the country’s not-so-independent central bank to cut interest rates despite … Read more

SenseTime delays its IPO after being hit by another US blacklist

The Chinese artificial intelligence startup announced Monday that it would delay its initial public offering in Hong Kong, where it had planned to raise up to $767 million. It was set to start trading as soon as this week. On Friday, the US Treasury Department placed the firm on a list of “Chinese military-industrial complex … Read more

SenseTime’s public debut may be spoiled by US-China tensions

The Chinese artificial intelligence startup is supposed to price shares Friday as it readies an initial public offering in Hong Kong, where it plans to raise up to $767 million. But the news is being overshadowed by reports that Washington could spoil the party by adding SenseTime to another trading blacklist. The Financial Times reported … Read more

Should retailers like Kohl’s and Macy’s break themselves up?

“The public market is not appreciating Kohl’s in its current form,” Engine Capital, an activist fund, said in a letter to Kohl’s board of directors published Monday. “There is no excuse for the Board to cling to the status quo.” The firm, which has built up a 1% stake in Kohl’s (KSS), says it should … Read more