CBS News has terminated the contract of 60 Minutes correspondent Scott Pelley, two sources at the network said on Tuesday, joining more than half a dozen departures in recent weeks. “Your antipathy to the future of the show has come through loud and clear. And I have heard you,” the show’s executive producer, Nick Bilton, wrote in a Tuesday email to Pelley that was seen by Reuters. “I therefor...
CBS News has terminated the contract of 60 Minutes correspondent Scott Pelley, two sources at the network said on Tuesday, joining more than half a dozen departures in recent weeks. “Your antipathy to the future of the show has come through loud and clear. And I have heard you,” the show’s executive producer, Nick Bilton, wrote in a Tuesday email to Pelley that was seen by Reuters. “I therefore write on behalf of CBS News, Inc. (“CBS”) to inform you that your employment with CBS is...
PaXini Tech , a maker of dexterous robotic hands and humanoid robots, is considering a Hong Kong initial public offering, people familiar with the matter said, the latest in the sector looking to tap investor demand. Backed by electric-car maker BYD Co. and e-commerce giant JD.com Inc. , PaXini is working with banks on the potential offering and may file with the Hong Kong exchange in the coming m...
PaXini Tech , a maker of dexterous robotic hands and humanoid robots, is considering a Hong Kong initial public offering, people familiar with the matter said, the latest in the sector looking to tap investor demand. Backed by electric-car maker BYD Co. and e-commerce giant JD.com Inc. , PaXini is working with banks on the potential offering and may file with the Hong Kong exchange in the coming months, the people said, asking not to be identified because the information is private. The Shenzhen-based company in March raised more than 1 billion yuan ($150 million) in a funding round that pushed its valuation above 10 billion yuan. Its products include tactile sensors, dexterous hands and humanoid robot Tora. Considerations are ongoing and details such as the size and timing of the IPO haven’t been finalized. A representative for PaXini declined to comment. Excitement is building among investors about Chinese innovation in areas such as robotics. Unitree Robotics recently received approval for a Shanghai IPO, while others such as Beijing Galbot Co. have filed in Hong Kong. Humanoid Robot Maker Galbot Said to Pick Banks for 2026 HK IPO China Robotics Firms Line Up IPOs to Pitch Next Phase of AI China’s Humanoid Robot Tech Gets Pulses Racing: Bloomberg Deals Beijing has made developing its homegrown high-tech sector a priority as it jostles with the US for technological supremacy. Artificial intelligence, semiconductors and robotics are some key flashpoints. For the latest news on equity capital markets activity in the Asia-Pacific region, follow the channel or visit NI BFWECMAS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here .
JHVEPhoto/iStock Editorial via Getty Images Shares of Willis Towers Watson ( WTW ) have been a very poor performer over the past year, losing about a fifth of their value and missing out on a large market rally. The insurance broker and consultant has been weighed down by fears that AI agents could disintermediate much of its business and threaten long-term profits. Beyond this longer-term fear, r...
JHVEPhoto/iStock Editorial via Getty Images Shares of Willis Towers Watson ( WTW ) have been a very poor performer over the past year, losing about a fifth of their value and missing out on a large market rally. The insurance broker and consultant has been weighed down by fears that AI agents could disintermediate much of its business and threaten long-term profits. Beyond this longer-term fear, recent financial results have been mixed given geopolitical uncertainty and slowing insurance inflation. Given my view that AI fears had grown excessive, in March , I upgraded Willis to a “buy,” which was a mistake given the 13% decline since then. With updated financials and ongoing AI fears, now is a good time to revisit WTW to determine if the sell-off is overdone or if further underperformance is likely. Seeking Alpha Willis Towers Watson is primarily an insurance broker. Unlike an insurance company, it does not take actual underwriting risk. Rather, it works as an intermediary between clients and insurance companies to craft the best policies for their needs. Most of its clients are medium and large businesses that have fairly customized needs, such as an apartment REIT that needs to insure buildings across multiple states. Given the bespoke nature of policies it crafts, I do not see AI agents quickly disintermediating business like they might for more commoditized products, like auto insurance. Willis also has a career consulting business, and to the extent AI ends up being a significant negative for employment, that would be a risk. Undoubtedly, this technology will disrupt some jobs, but in the past, we have seen how transformative technologies also create new careers, and the US has more employment than ever today and more technology than ever. I do not personally view mass unemployment as a risk, and if this occurred, countless businesses, not just WTW, would be impacted. In fact, incorporating AI into the workplace may require more consulting work, especially when...
Blackstone Inc. is exploring a sale of its payments services provider SP.LINKS Inc., likely turning a profit a little more than two years after it bought the firm, according to people familiar with the matter. A bidding process is under way, and SoftBank Group Corp. ’s telecom unit SoftBank Corp. is among the parties that have advanced to the second round for the firm, the people said, asking not ...
Blackstone Inc. is exploring a sale of its payments services provider SP.LINKS Inc., likely turning a profit a little more than two years after it bought the firm, according to people familiar with the matter. A bidding process is under way, and SoftBank Group Corp. ’s telecom unit SoftBank Corp. is among the parties that have advanced to the second round for the firm, the people said, asking not to be identified because the information is private. A private equity fund is also on the short list, they said. Second-round bids may be be made around mid-July, and the seller is seeking a price tag of about ¥100 billion ($625 million), the people said. A representative for Blackstone declined to comment. A representative for SoftBank didn’t immediately respond to a request for comment. Blackstone acquired an 80% stake in the former Sony Payment Services Inc. from Sony Group Corp. in January 2024 for about ¥40 billion. Sony Bank Inc., a unit of Sony Financial Group Inc., retained a 20% stake, giving the company an overall enterprise value of ¥50 billion at the time. The final acquisition price may vary depending on whether Sony Bank agrees to sell its stake as part of the deal. Booming Market Japan’s cashless payments market has expanded for more than a decade as consumers who once overwhelmingly favored paper money turn to electronic services. Cashless payments reached 58% of transactions in 2025, rising from 53% a year earlier, and just 17% in 2010, according to data from the Ministry of Economy, Trade and Industry. Such transactions totaled about ¥163 trillion in 2025, surging from ¥86 trillion five years earlier. That growth has been a boon for payment processing companies such as GMO Payment Gateway Inc., SB Payment Service Corp. and SP.LINKS. SoftBank already owns SB Payment Service, one of SP.LINKS’ major competitors. Blackstone acquired an 80% stake in the former Sony Payment Services from Sony Group Corp. in January 2024 for about ¥40 billion. Sony Bank Inc., a u...
Goldman Sachs Group Inc. boosted its outlook for South Korean and Taiwanese stocks, as the artificial intelligence boom drives profits in the tech-heavy markets. “We lean into north Asia where earnings growth is strongest,” strategists including Timothy Moe wrote in a note, upgrading Taiwan to overweight with a 12-month target of 51,000 for the benchmark Taiex . They lifted their target for Korea’...
Goldman Sachs Group Inc. boosted its outlook for South Korean and Taiwanese stocks, as the artificial intelligence boom drives profits in the tech-heavy markets. “We lean into north Asia where earnings growth is strongest,” strategists including Timothy Moe wrote in a note, upgrading Taiwan to overweight with a 12-month target of 51,000 for the benchmark Taiex . They lifted their target for Korea’s Kospi to 12,000 from 9,000. The Wall Street titan’s endorsement comes as investors grow wary over the sustainability of an AI rally that’s been driven by a small number of stocks. The Taiex is up 60% this year, largely on the back of Taiwan Semiconductor Manufacturing Co. , while the Kospi has doubled on gains in Samsung Electronics Co. and SK Hynix Inc. The three chipmakers have each reached a valuation of more than $1 trillion in the past year, powered by blockbuster earnings. The Goldman strategists expect the positive trend to continue. “AI investment will enable tech hardware to deliver strong earnings growth to and beyond 2028,” the team wrote. They expect Korea to lead Asia with profit growth of 320% this year, followed by Taiwan at 48%. S. Korea Surpasses India as World’s Sixth-Largest Stock Market Memory Chip Frenzy Sends SK Hynix, Micron Into $1 Trillion Club Goldman Hikes Kospi Target Again to 9,000 After Blistering Rally The AI Stocks Boom Fueling Record Rallies in Korea and Taiwan Goldman has repeatedly raised its Kospi outlook this year. The latest call is among the highest from Wall Street strategists, with JPMorgan Chase & Co. seeing 10,000 in their bull-case scenario released in May. Moe’s team acknowledged the possibility of corrections in the markets following their big gains, which make them “vulnerable to profit taking.” Foreign investors have been especially wary, selling a net $70 billion worth of Korean shares this year. “The outsized performance of Korea and Taiwan raises the risk of a sharp pullback, particularly given increases in speculative po...