Michael Hartono , an Indonesian billionaire and major shareholder of the country’s largest lender by market value, PT Bank Central Asia , has died. He was 86. Hartono passed away in Singapore on Thursday afternoon, according to Budi Darmawan, corporate secretary of Djarum Group, one of Hartono’s companies. Together with his younger brother, Budi Hartono , 85, the pair have a combined net worth of ...
Michael Hartono , an Indonesian billionaire and major shareholder of the country’s largest lender by market value, PT Bank Central Asia , has died. He was 86. Hartono passed away in Singapore on Thursday afternoon, according to Budi Darmawan, corporate secretary of Djarum Group, one of Hartono’s companies. Together with his younger brother, Budi Hartono , 85, the pair have a combined net worth of around $31 billion, according to the Bloomberg Billionaires Index . Born on Oct. 2, 1939 in Central Java, Hartono, along with his brother, took over his father’s cigarette factory in 1963 after a devastating factory fire. The two helped rebuild it and turned the company into one of Indonesia’s largest conglomerates, with interests in banking, technology and consumer goods. Their most consequential move came after the Asian financial crisis in the late 1990s, when Indonesia’s banking sector collapsed under the weight of bad debt. Through their conglomerate, Michael and Budi acquired a controlling stake in BCA from the Indonesian Bank Restructuring Agency. Under their ownership, BCA emerged as Indonesia’s largest private bank and one of its most profitable financial institutions, deeply embedded in the country’s payments and lending system. The Hartono family later diversified further into electronics, telecommunications infrastructure, property and digital businesses, although banking remained at the core of their wealth. Michael Hartono’s death comes as Indonesian President Prabowo Subianto steps up government scrutiny of the nation’s richest families . Last year, Hartono’s nephew, Victor Hartono, was temporarily barred from leaving the country in connection with a tax-related corruption probe. Unlike many tycoons, Hartono kept a very low profile. He rarely spoke to the media or appeared in public, preferring to work quietly behind the scenes. Bridge was among his passions and he represented Indonesia at the 2018 Asian Games.
Novo Nordisk A/S is seeking to broaden access to obesity treatments in Japan by targeting patients willing to pay out-of-pocket for GLP-1 drugs such as Wegovy. The Danish drugmaker will work with physicians and patients on self-funded treatment pathways, Keisuke Kotani, the head of Novo’s Japan unit, said at a briefing in Tokyo Thursday. “There are many people who can’t access the treatment becaus...
Novo Nordisk A/S is seeking to broaden access to obesity treatments in Japan by targeting patients willing to pay out-of-pocket for GLP-1 drugs such as Wegovy. The Danish drugmaker will work with physicians and patients on self-funded treatment pathways, Keisuke Kotani, the head of Novo’s Japan unit, said at a briefing in Tokyo Thursday. “There are many people who can’t access the treatment because of various reasons,” he said. Strict reimbursement rules and limited prescribing access have constrained Japan’s uptake of GLP-1 obesity drugs, even as demand grows globally for such treatments. Only a small share of eligible patients in the country receive therapies, creating a gap between clinical need and broader demand. Novo Nordisk’s push into self-funded care reflects a broader industry effort to expand treatment in under-penetrated markets. Japan has strict eligibility criteria for insurance-covered treatments with the blockbuster semaglutide drug, which limits the number of those who are potentially treatable and has proved to be a bottleneck in the country’s obesity treatment market. Access remains tightly restricted, with various regulatory hurdles in place before GLP-1 treatments can be prescribed by doctors. “The challenge becomes how best to serve the patients in any way possible,” Kotani said. Wegovy has been on the market in Japan since February 2024, and is available at roughly 1,200 facilities in a country with more than 100,000 hospitals and clinics. Patients must meet strict clinical thresholds: a body mass index of 35 or above, or a BMI of 27 with related conditions and insufficient improvement after months of diet and exercise, according to Japan’s health ministry. Eli Lilly & Co. ’s Zepbound also faces similar restrictions. As a result, uptake remains modest. About 14,000 people in Japan are currently receiving obesity drugs, a fraction of the roughly 6 million who meet treatment criteria and the broader 26.6 million classified as obese — defined as ...
The limit on contactless spending with a credit or debit card has been scrapped, and banks will be allowed to set their own restrictions. The City watchdog, the Financial Conduct Authority (FCA), said the move would allow banks to respond to changing consumer demands, inflation and new technology. Here we look at how the rules have changed and what the impact may be. What were the rules? When you ...
The limit on contactless spending with a credit or debit card has been scrapped, and banks will be allowed to set their own restrictions. The City watchdog, the Financial Conduct Authority (FCA), said the move would allow banks to respond to changing consumer demands, inflation and new technology. Here we look at how the rules have changed and what the impact may be. What were the rules? When you paid for something in person using a credit or debit card there was a limit of £100 on each single contactless transaction, under rules set by the FCA. There were also limits on cumulative spending. You could spend up to £300, or make five contactless taps, before you will be asked for verification – typically your four-digit pin number. Anytime you used your pin or pay online the total is reset to £0. There continues to be no limit on payments using digital wallets, such as Apple Pay. What has changed? The FCA is allowing banks and card providers to remove the limits – on the single transaction and cumulative spending. Rising shop prices mean people were more likely to bump up against the £100 limit than they were when it was introduced in October 2021. However, the FCA has said it does not expect providers to take up the offer in the foreseeable future as most consumers are content with the current limits. Many high street banks – including Nationwide, NatWest, HSBC, Barclays, Lloyds and Santander have said they are not making any changes. Challenger banks such as Starling, Monzo and Revolut are also keeping the £100 limit for now. Isn’t this making life easier for fraudsters? There is a concern that criminals who get their hands on a contactless card will be able to rack up more spending before they are stopped. The single transaction limit reduces the possibility to buy very expensive items and the cumulative limits keep a lid on the total spend. The last figures from the banks’ trade body, UK Finance, show contactless fraud rates are low, at 1.2p for every £100 of tran...
Macy's Inc.’s ( M ) shares climbed 4.7% after the company reported fourth-quarter fiscal 2025 adjusted earnings of $1.67 per share, surpassing the Zacks Consensus Estimate of $1.53 per share. M Shares of General Mills Inc. ( GIS ) tumbled 3% after the company reported third-quarter fiscal 2026 adjusted earnings of $0.64 per share, missing the Zacks Consensus Estimate of $0.74 per share. GIS Shares...
Macy's Inc.’s ( M ) shares climbed 4.7% after the company reported fourth-quarter fiscal 2025 adjusted earnings of $1.67 per share, surpassing the Zacks Consensus Estimate of $1.53 per share. M Shares of General Mills Inc. ( GIS ) tumbled 3% after the company reported third-quarter fiscal 2026 adjusted earnings of $0.64 per share, missing the Zacks Consensus Estimate of $0.74 per share. GIS Shares of Williams-Sonoma Inc. ( WSM ) rose 1.1% after posting fourth-quarter fiscal 2026 adjusted earnings of $3.04 per share, outpacing the Zacks Consensus Estimate of $2.89 per share. WSM Weibo Corp.’s ( WB ) shares plunged 10.7% after reporting fourth-quarter 2025 adjusted earnings of $0.25 per share, lagging the Zacks Consensus Estimate of $0.31 per share. Quantum Computing Stocks Set To Soar Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time. Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macy's, Inc. (M) : Free Stock Analysis Report General Mills, Inc. (GIS) : Free Stock Analysis Report Williams-Sonoma, Inc. (WSM) : Free Stock Analysis Report Weibo Corporation (WB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Hong Kong has overtaken the U.S. to become the second-most popular intended study-abroad destination for Chinese students. Meanwhile, the financial burden of studying overseas continues to mount, with students’ average study-abroad budgets reaching 605,000 yuan ($87,649), prompting Chinese families to place greater emphasis on costs and value for money. You've accessed an article available only to...
Hong Kong has overtaken the U.S. to become the second-most popular intended study-abroad destination for Chinese students. Meanwhile, the financial burden of studying overseas continues to mount, with students’ average study-abroad budgets reaching 605,000 yuan ($87,649), prompting Chinese families to place greater emphasis on costs and value for money. You've accessed an article available only to subscribers Subscribe today for just $.99. VIEW OPTIONS
KanawatTH New research from Omdia shows the semiconductor market surpassed $830B in 2025, marking a second straight year of 20%+ growth, as AI-driven demand continued to fuel expansion. Unlike 2024, when automotive, consumer, and industrial segments declined, all major semiconductor application segments recorded revenue growth in 2025. DRAM was the standout among all components, with revenue nearl...
KanawatTH New research from Omdia shows the semiconductor market surpassed $830B in 2025, marking a second straight year of 20%+ growth, as AI-driven demand continued to fuel expansion. Unlike 2024, when automotive, consumer, and industrial segments declined, all major semiconductor application segments recorded revenue growth in 2025. DRAM was the standout among all components, with revenue nearly tripling from just over $50B in 2023 to more than $150B in 2025, making it the fastest-growing semiconductor component with 50%+ annual growth. At the company level, Nvidia ( NVDA ) led the market with $150.3B in revenue (+54% Y/Y), followed by Samsung Electronics ( SSNLF ) at $85.8B (+14.2%) and SK Hynix ( HXSCL ) at $67.2B (+42%), according to the report. Micron Technology ( MU ) was among the fastest growers, with revenue jumping to $45.6B (+56.3%), while Broadcom ( AVGO ) reached $39.5B (+28%) and Advanced Micro Devices ( AMD ) climbed to $32.7B (+33%). Apple ( AAPL ) generated $34.4B (+37.5%) in semiconductor-related revenue, while Qualcomm reported $38.9B (+11.6%). In contrast, Intel was the only top-10 player to post a decline, with revenue at $48.5B (-3.7%). The surge since 2023 has also driven market concentration, with the top 10 semiconductor companies growing revenue by 90%, compared with just 8% growth for the rest of the market. Memory suppliers and Nvidia ( NVDA ) alone expanded their combined market share from 24% in 2023 to 42% in 2025, underscoring the outsized impact of AI demand. Looking ahead, if AI-driven growth continues into 2026 and the industry delivers another year of 20%+ expansion, the semiconductor market could surpass $1T for the first time, Omdia said. More on Micron Technology, AMD, etc. Micron Technology, Inc. (MU) Q2 2026 Earnings Call Transcript Micron Technology, Inc. 2026 Q2 - Results - Earnings Call Presentation Micron Technology, Inc. (MU) Q2 2026 Earnings Call Transcript Oscars ratings fall to 17.86M, snapping post-pandemic growth ...
KanawatTH New research from Omdia shows the semiconductor market surpassed $830B in 2025, marking a second straight year of 20%+ growth, as AI-driven demand continued to fuel expansion. Unlike 2024, when automotive, consumer, and industrial segments declined, all major semiconductor application segments recorded revenue growth in 2025. DRAM was the standout among all components, with revenue nearl...
KanawatTH New research from Omdia shows the semiconductor market surpassed $830B in 2025, marking a second straight year of 20%+ growth, as AI-driven demand continued to fuel expansion. Unlike 2024, when automotive, consumer, and industrial segments declined, all major semiconductor application segments recorded revenue growth in 2025. DRAM was the standout among all components, with revenue nearly tripling from just over $50B in 2023 to more than $150B in 2025, making it the fastest-growing semiconductor component with 50%+ annual growth. At the company level, Nvidia ( NVDA ) led the market with $150.3B in revenue (+54% Y/Y), followed by Samsung Electronics ( SSNLF ) at $85.8B (+14.2%) and SK Hynix ( HXSCL ) at $67.2B (+42%), according to the report. Micron Technology ( MU ) was among the fastest growers, with revenue jumping to $45.6B (+56.3%), while Broadcom ( AVGO ) reached $39.5B (+28%) and Advanced Micro Devices ( AMD ) climbed to $32.7B (+33%). Apple ( AAPL ) generated $34.4B (+37.5%) in semiconductor-related revenue, while Qualcomm reported $38.9B (+11.6%). In contrast, Intel was the only top-10 player to post a decline, with revenue at $48.5B (-3.7%). The surge since 2023 has also driven market concentration, with the top 10 semiconductor companies growing revenue by 90%, compared with just 8% growth for the rest of the market. Memory suppliers and Nvidia ( NVDA ) alone expanded their combined market share from 24% in 2023 to 42% in 2025, underscoring the outsized impact of AI demand. Looking ahead, if AI-driven growth continues into 2026 and the industry delivers another year of 20%+ expansion, the semiconductor market could surpass $1T for the first time, Omdia said. More on Micron Technology, AMD, etc. Micron Technology, Inc. (MU) Q2 2026 Earnings Call Transcript Micron Technology, Inc. 2026 Q2 - Results - Earnings Call Presentation Micron Technology, Inc. (MU) Q2 2026 Earnings Call Transcript Oscars ratings fall to 17.86M, snapping post-pandemic growth ...
Nvidia restarts production of H200 chips for China Nvidia Corp. has obtained a U.S. license to sell its advanced H200 artificial intelligence (AI) chips to Chinese customers and has restarted production to meet demand, CEO Jensen Huang said. Orders are advancing and the supply chain is recovering, Huang told Caixin and other media outlets on Tuesday during Nvidia’s GTC conference in San Jose, Cali...
Nvidia restarts production of H200 chips for China Nvidia Corp. has obtained a U.S. license to sell its advanced H200 artificial intelligence (AI) chips to Chinese customers and has restarted production to meet demand, CEO Jensen Huang said. Orders are advancing and the supply chain is recovering, Huang told Caixin and other media outlets on Tuesday during Nvidia’s GTC conference in San Jose, California. The breakthrough ends a roughly 10-month freeze on Nvidia’s advanced chip supplies to the world’s second-largest economy.