Hong Kong Asks Insurers to Return Investing Roles From Singapore
Over the past year, Hong Kong's insurance regulator has been steering some of the financial hub's biggest life insurers to move investment decision-making functions back to the city following their relocation to Singapore, according to people familiar with the matter.
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Fast Company
19 minutes ago
- Fast Company
Samsung is now tracking employee office attendance
Samsung is one of many companies that have been pushing for employees to return to the office fulltime. However, now the brand is taking RTO efforts in the U.S. one step further with a tool that tracks attendance for a group in its semiconductor business. In an internal email, seen by Business Insider, Samsung informed employees about the new compliance tracking tool. 'This tool will provide each Manager with visibility to the number of days & time in building metrics for each team member,' the email said. It continued, 'This will ensure that team members are fulfilling their expectation regarding in office work – however that is defined with their business leader – as well as guarding against instances of lunch/coffee badging.' In 2023 the brand embraced a global hybrid work model, rolling out 500 new jobs. While the specifics varied, the majority of the postings (58.3%) included the ability to work from home at least part of the work week. The brand also gave employees in the company's corporate offices in South Korea one Friday off a month. However, last April, after posting lower than expected sales, the brand asked its corporate executives to begin working six days a week in order to 'inject a sense of crisis' into its workforce. 'Considering that performance of our major units, including Samsung Electronics Co., fell short of expectations in 2023, we are introducing the six-day work week for executives to inject a sense of crisis and make all-out efforts to overcome this crisis,' a Samsung Group executive told the Korea Economic Daily. This May, Samsung asked employees to begin returning to the office full time. The following month, it updated employees on the RTO initiative. 'We are already experiencing increased foot traffic daily, with more cars in the parking lot and hungry mouths in our cafeterias on Fridays, to name just a few signs,' Samsung said in an email viewed by BI. At the time, Samsung also noted that it was developing a tool to track attendance. Employee tracking might sound offbeat, but workplace surveillance is on the rise. According to a recent ExpressVPN survey, 74% of U.S. employers now use online tracking tools to monitor work activities. That includes real-time screen tracking (59%) and web browsing logs (62%). Likewise, 61% use AI -powered analytics to measure productivity and around 67% collect biometric data to monitor things like behavior and attendance. Still, that doesn't mean it's popular among employees or feels all that ethical. While most companies (three out of four) use biometric surveillance, only 22% of employees know they're being monitored, according to the same report. Likewise, 17% of employees said they'd be 'very likely' to resign over workplace surveillance. Another 32% said they'd strongly consider it. It's unclear how Samsung's new tracking tool will work, how closely employees will be monitored, and how many employees will be impacted. Fast Company reached out to the brand but did not hear back by the time of publication. Samsung told employees they will find out more about the tracking system soon. 'Additional information regarding the new tool will be made available to Managers this month,' the email to employees said.
Yahoo
an hour ago
- Yahoo
China Tower Corp Ltd (CHWRF) (H1 2025) Earnings Call Highlights: Strong Growth in Smart Tower ...
Release Date: August 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points China Tower Corp Ltd (CHWRF) reported an 8% year-on-year increase in net profit for the first half of 2025. The company's revenue from the smart tower business increased by 18.7% year-on-year, showcasing strong growth in this segment. Interim dividend increased by 21.6%, reflecting the company's commitment to sharing profits with shareholders. The company achieved a stable cash flow with net cash flow from operating activities reaching RMB28.68 billion. China Tower Corp Ltd (CHWRF) successfully expanded its battery exchange business, with revenue growing by 14.4% year-on-year. Negative Points The tower business revenue remained flat compared to the same period last year, indicating challenges in this segment. Operating costs and capital expenditure on new site construction and augmentation decreased, which may impact future growth. Net cash flow from operating activities decreased by RMB4.15 billion year-on-year, indicating potential cash flow challenges. The liability to asset ratio stood at 39.5%, which could be a concern for financial stability. The company's revenue growth was partly driven by a change in accounting methods, which may not reflect organic growth. Q & A Highlights Warning! GuruFocus has detected 10 Warning Signs with CHWRF. Q: Can you elaborate on the company's financial performance in the first half of 2025? A: Mr. Zhao Zhiyong, Chairman, reported that China Tower Corp Ltd recorded a net profit increase of 8% year on year, with operating revenue reaching RMB49.6 billion, a 2.8% increase. The EBITDA totaled RMB34.23 billion, up 3.6% year on year. The interim dividend increased by 21.6%, reflecting the company's commitment to sharing results with shareholders. Q: How did the smart tower business perform, and what are its future prospects? A: Mr. Chen Li, Executive Director and General Manager, stated that the smart tower business saw a revenue increase of 18.7% year on year, reaching RMB4.73 billion. The company is focusing on transforming telecom towers into digital towers to serve major national strategies and projects, with a strong emphasis on digital intelligence governance. Q: What strategies are in place for the TSP business amid the growing 5G network penetration? A: Mr. Zhao Zhiyong explained that the company is capitalizing on 5G network expansion by improving resource coordination and sharing. The TSP business remained stable, with 215,000 5G base stations built in the first half, and more than 95% of 5G projects delivered through site co-location. Q: Could you provide insights into the company's energy business performance? A: Mr. Chen Li highlighted that the energy business generated RMB2.21 billion in revenue, a 9.2% increase year on year. The company is focusing on battery exchange and power backup, enhancing product competitiveness, and expanding its customer base in key industries. Q: What are the key focus areas for China Tower's future development? A: Mr. Zhao Zhiyong emphasized the company's commitment to sustainable development, digital intelligence governance, and green transformation. The focus will be on enhancing core competitiveness, promoting high-quality development, and leveraging national policy opportunities to expand the TSP and two wings businesses. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
JPMorgan Names New Global Co-Head of Blockchain Division
JPMorgan Chase & Co. has appointed a new global co-head of its blockchain division Kinexys. Based in Edinburgh, Kara Kennedy will lead Kinexys alongside Naveen Mallela, according to a JPMorgan spokesperson. Kennedy will oversee Kinexys Digital Assets, which focuses on asset tokenization, and Kinexys Labs, which helps clients prototype blockchain projects. Mallela, who is based in Singapore, will continue to run the payments divisions, including Kinexys Digital Payments and Kinexys Liink.
