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Taiwan aims to reassure about TSMC's commitment to the island.
  • by  Despite American investment, Taiwan aims to reassure about TSMC's commitment to the island.
  • Dec 07, 2022
 Despite American investment, Taiwan aims to reassure about TSMC's commitment to the island.

The Island continues to be the most significant production base for chipmaker TSMC, according to Taiwan's economy minister on Wednesday.

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Foxconn's large China plant has lost over 20,000 newly hired employees, according to the source
  • by Foxconn's large China plant has lost over 20,000 newly hired employees, according to the source
  • Nov 25, 2022
Foxconn's large China plant has lost over 20,000 newly hired employees, according to the source

More than 20,000 workers, mostly new hires who were not yet working on production lines, have left Foxconn's sizable Chinese facility, according to a source familiar with the situation who spoke to Reuters on Friday.

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Banking

Global regulator: $80 trillion "blind spot" in FX swap debt.

The Bank for International Settlements (BIS) reported that pension funds and other "non-bank" financial institutions have hidden, off-balance sheet dollar debt in FX swaps totaling more than $80 trillion.

Asia's stocks decline as China opens; oil prices rise.

Asian shares extended their rally on Monday.

Citigroup seeks to do more business in the Gulf region

In the past two years, Citigroup Inc.'s investment banking team has grown by 50%, and more employees are being hired in Saudi Arabia and the United Arab Emirates (UAE), joining rivals looking to profit from the booming Gulf IPO market.

Australian Medibank is aware of the 24-hour data leak threat from hackers.

A day after the health insurer declined to pay a ransom to the hacker, Australia's Medibank Private Ltd. said on Tuesday that it was aware of media reports about a criminal's threat to publish stolen customer data within 24 hours.

Westpac, an Australian lender, raises its cost target as profit declines due to charges.

Westpac Banking Corp., Australia's third-largest lender, reported lower annual earnings on Monday.