As Southeast Asian leaders descend on Cebu in the Philippines for the 48th Asean summit on May 8, immediate concerns such as the global energy crunch will top the agenda. Yet a year-end deadline to finalise a long-delayed code of conduct in the South China Sea looms for bloc chair Manila. At a panel at Atma Jaya University in Jakarta on Thursday, Philippine Foreign Affairs Secretary Theresa Lazaro...
As Southeast Asian leaders descend on Cebu in the Philippines for the 48th Asean summit on May 8, immediate concerns such as the global energy crunch will top the agenda. Yet a year-end deadline to finalise a long-delayed code of conduct in the South China Sea looms for bloc chair Manila. At a panel at Atma Jaya University in Jakarta on Thursday, Philippine Foreign Affairs Secretary Theresa Lazaro stressed that completing the code this year was “something that we owe the world as well as the...
lakshmiprasad S California is moving ahead with a measure that would ban children under the age of 16 from social media platforms such as TikTok ( TIKTOK ), Instagram ( META ), and Snapchat ( SNAP ). The bill targets social media platforms with "addictive features" like algorithmic content recommendation, endless scrolls, autoplay, and notifications. If the bill is passed, social media apps would ...
lakshmiprasad S California is moving ahead with a measure that would ban children under the age of 16 from social media platforms such as TikTok ( TIKTOK ), Instagram ( META ), and Snapchat ( SNAP ). The bill targets social media platforms with "addictive features" like algorithmic content recommendation, endless scrolls, autoplay, and notifications. If the bill is passed, social media apps would be required to verify the ages of users and delete accounts of children under 16. Companies that don't comply will be subject to civil penalties of up to $50,000 per affected minor for a knowing violation and up to $25,000 per affected minor for a negligent violation. "A substantial and growing body of research shows that children under 16 are especially vulnerable to addictive digital environments, given that their brains have not yet developed the executive functioning skills necessary for impulse control or emotional regulation and long-term decision-making," State Assemblymember Josh Lowenthal (D-Long Beach), who introduced the bill, said this week. The bill , which cleared two committees this month, is on track for a full Assembly vote next month. Governor Gavin Newsom has signaled his support for the bill. Earlier this month, the Massachusetts House of Representatives approved legislation that would ban under-14s from using social media, while kids aged 14 and 15 would need parental consent. The bill needs to clear the state Senate before heading to Governor Maura Healey's desk. Florida passed a ban on children under 14 from creating social media accounts, although this move has faced legal challenges. More on kids' online safety Australia orders Roblox, Minecraft to explain their child safety measures Greece to ban social media for kids under 15 from 2027 Australia weighs legal action against Meta, Snapchat over teen ban breaches Jury finds Meta, Google liable for social media addiction in young woman
Obe Ejikeme, global equities fund manager at Carmignac, discusses cyclicals and the sentiment-driven rally of the past few months. "If you get this big disconnect between what the market is doing, or what the underlying potential macro risks are, then I think the chance of seeing an equity market unwind, or at least a reversal of some of these riskier trades, is quite high," he tells Bloomberg Tel...
Obe Ejikeme, global equities fund manager at Carmignac, discusses cyclicals and the sentiment-driven rally of the past few months. "If you get this big disconnect between what the market is doing, or what the underlying potential macro risks are, then I think the chance of seeing an equity market unwind, or at least a reversal of some of these riskier trades, is quite high," he tells Bloomberg Television. (Source: Bloomberg)
Eoptolink Technology Inc. , a Chinese maker of optical transceivers, has picked banks for a listing in Hong Kong that could raise about $3 billion, according to people familiar with the matter. The Chengdu-based company is working with Citic Securities Co. and JPMorgan Chase & Co. on the potential share sale, the people said, asking not to be identified discussing confidential information. Deliber...
Eoptolink Technology Inc. , a Chinese maker of optical transceivers, has picked banks for a listing in Hong Kong that could raise about $3 billion, according to people familiar with the matter. The Chengdu-based company is working with Citic Securities Co. and JPMorgan Chase & Co. on the potential share sale, the people said, asking not to be identified discussing confidential information. Deliberations are ongoing and the deal size may change, they said. Eoptolink didn’t respond to requests for comment. Citic and JPMorgan declined to comment. Read More: AI Boom Sparks Rush Into Chinese Optical Stocks as Top Trade Eoptolink already trades in Shenzhen, where its shares have surged in the past year, giving it a market capitalization of $78 billion. The rally — similar to gains by other Chinese companies making optical transceivers — has been driven by rising demand for artificial intelligence computing power. Data centers need optical transceivers to link thousands of advanced chips known as graphics processing units, or GPUs, in AI clusters. The buyers of the transceivers are some of the world’s biggest technology companies like Alphabet Inc. and Amazon.com Inc., which plan to spend hundreds of billions of dollars building data centers. Read More: AI Boom Powers Triple-Digit Gains in China’s Hardware Stocks Eoptolink’s competitors are also pursuing second listings in Hong Kong. Zhongji Innolight Co. — the world’s largest maker of optical transceivers — has filed confidentially for what could be one of the city’s biggest share sales this year, while Suzhou TFC Optical Communication Co. also filed earlier this month. International Financing Review reported last week that Eoptolink was planning a $3 billion Hong Kong listing. Eoptolink on Thursday reported record annual profit and a surge in first-quarter earnings. Still, on a sequential basis, quarterly revenue was flat and net income dipped, missing expectations, Bloomberg Intelligence analyst Sean Chen wrote . Eoptol...
Anna Edwards, Guy Johnson, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Guy Johnson, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)