Author: Tammy Cunningham

MOSCOW (Agency): A legal review in Germany examining alleged foreign trade law violations linked to Alisher Usmanov has been formally concluded. Legal representatives acting on behalf of the businessman stated that prosecutors agreed to close the proceedings after assessing the available material. The matter related to questions over payments and declarations tied to property use and asset reporting in Germany during 2022. The closure brings an end to a process that had remained under examination for more than two years within the German legal system. The review was handled by prosecutors in Germany and focused on activities connected to two…

NEW YORK (Business Emerge): U.S. financial markets recorded renewed sensitivity in early November after policy signals revived concerns about long-term government borrowing and legal uncertainty around trade measures. Treasury officials indicated they were evaluating higher issuance of longer-maturity debt on the same day that legal proceedings began examining the validity of broad tariff actions. The combination triggered a sharp move in benchmark government bonds, with the 10-year yield rising notably in a single session. The reaction highlighted how quickly market stability can be disrupted despite recent periods of lower volatility in government debt trading. The developments unfolded in the United…

MILAN (Business Emerge): The EU Council has agreed on a negotiating position for the digital euro that supports functionality for both connected and disconnected environments. The position confirms that the digital euro would be issued by the European Central Bank and made available for use regardless of internet access. The framework allows transactions to be carried out online through existing payment infrastructure as well as offline through locally stored value that can later be reconciled with central systems. The decision was taken during a Council meeting held in mid-December and applies across all member states of the European Union. Finance…

WASHINGTON (Business Emerge/Morning USA Team): A recent executive order issued by U.S. President Donald Trump has directed federal regulators to expand scrutiny of proxy advisers, firms that guide institutional investors on corporate voting decisions, marking a significant regulatory move affecting shareholder rights. The order instructs the U.S. Securities and Exchange Commission and other federal bodies to examine the role and oversight of proxy advisory firms, including Institutional Shareholder Services and Glass Lewis. These firms provide voting recommendations to mutual funds, pension funds, and asset managers that collectively hold large stakes in major publicly listed companies. Proxy advisers influence decisions on…

SAN FRANCISCO (Business Emerge): OpenAI has confirmed the appointment of Albert Lee, previously a senior director of corporate development at Google, as its new vice president of corporate development. Lee officially begins his role on Tuesday and will report directly to OpenAI’s finance chief, Sarah Friar. Lee’s appointment aims to place an experienced executive with extensive company-wide visibility in a position empowered to accelerate strategic initiatives. The move follows OpenAI’s recent expansion of its executive team in corporate and business development functions. During his tenure at Google, Lee managed corporate development for Google Cloud, DeepMind, and the strategy and scouting…

BEIJING/HONG KONG (Business Emerge): Chinese artificial intelligence chip company Biren Technology is preparing to launch an initial public offering in Hong Kong within the next few weeks, aiming to raise approximately $300 million. The Shanghai-based firm, established in 2019, plans to issue up to 372.5 million new shares in the Hong Kong market. In addition, its existing shareholders intend to convert around 873.3 million onshore shares into Hong Kong-listed stock. The offering could commence this month, with trading potentially starting in January. Biren’s IPO follows a trend among Chinese AI semiconductor firms seeking capital amid growing domestic demand for alternatives…

BUSAN (Business Emerge/Asia): Two major shareholders of Korea Zinc requested a Seoul court to block the company’s proposal to issue new shares intended to finance a $7.4 billion zinc and critical minerals smelter in the United States. The legal move cast uncertainty over the project and caused Korea Zinc’s shares to fall by 14 percent. The filing was submitted to the Seoul Central District Court on Tuesday. The plan, unveiled a day earlier, involves constructing a U.S.-based refinery in partnership with the U.S. government. The project is designed to reduce America’s reliance on Chinese-sourced critical materials essential for electronics and…

LONDON (Business Emerge Finance Desk): The global shadow banking system expanded at a significantly faster pace than traditional banks last year, pushing the non-bank financial sector to more than half of worldwide financial assets. The segment, which includes financial entities operating outside conventional banking structures, increased its footprint as asset prices rose and borrowing conditions eased. The expansion occurred across a wide range of financial intermediaries that do not take deposits like commercial banks. These entities include investment funds, private credit firms, pension managers, insurers, and other financial vehicles that provide credit or manage large pools of capital. Together, they…

Broadcom’s share price moved lower on Friday as investors reviewed the company’s latest financial outlook, which included a projection of higher revenue for the upcoming quarter while also signalling a possible reduction in margins tied to its expanding artificial intelligence business. The share movement came a day after the company issued its quarterly update, outlining expectations for first-quarter revenue that surpass analysts’ estimates. Trading in Frankfurt reflected a decline of nearly five percent as market participants evaluated the cost structure associated with Broadcom’s AI-related operations. Broadcom has been increasing its presence in the AI semiconductor segment, an area that requires…

TAIPEI (Asia Tech Desk): Foxconn has announced a plan to establish a new headquarters complex in Kaohsiung as part of its broader development strategy for southern Taiwan. The company confirmed that it will allocate T$15.9 billion, equivalent to roughly $510 million, for the project. Foxconn stated that the headquarters site will include commercial and office facilities along with a residential tower. Construction is expected to begin in 2027, and current planning indicates the project could be completed by 2033. Initial details shared by the company show that the upcoming complex will bring together multiple units involved in future technology development.…