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Latest: Fintech News

World’s Largest iPhone Factory Hit by Covid in China – SCMP
World’s Largest iPhone Factory Hit by Covid in China – SCMP

Reports of Foxconn's Zhengzhou campus operating in a “production bubble” went viral on Chinese social media platforms

Poor Corporate Earnings in US, Asia Point to Slowdown
Poor Corporate Earnings in US, Asia Point to Slowdown

Korean tech groups SK Hynix and LG Display joined US tech giants in reporting big slowdowns in growth and warning things are going to get worse, fanning recession fears.

Asian Banks Test Trans-Border CBDC Transfers on Blockchain – Nikkei
Asian Banks Test Trans-Border CBDC Transfers on Blockchain – Nikkei

Central banks from Hong Kong, Thailand, China and the UAE issued CBDCs worth $12m on BIS’ mBridge platform to test cross-border transfers to and from commercial banks and foreign exchanges

Chipmaker SK Hynix to Slash Investment as Recession Looms
South Korea’s Mirae Asset to Help Fund Musk’s Twitter Deal
India Hits Google With $113m Fine Over Payments Breaches
US Charges Chinese Citizens With Spying in Huawei Probe – ST
China Sees Smart Glasses Popularity Rise – Pandaily
China’s Communist Party Puts Scientists Into Top Roles – SCMP
China’s YMTC Asks US Staff to Leave After US Chip Curbs – FT

Fintech: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors