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Bloomberg
41 minutes ago
- Bloomberg
UBS, Citi Among Banks Punished in Singapore Laundering Scandal
Singapore imposed S$27.5 million ($21.5 million) in penalties on nine financial firms, including a few of the world's biggest banks, for lapses related to the city's largest money laundering case. Credit Suisse 's Singapore branch was slapped with the highest amount of S$5.8 million, the Monetary Authority of Singapore said Friday in a statement. The local units of UBS Group AG and Citigroup Inc. were also rapped for breaching anti-money laundering rules.
Yahoo
41 minutes ago
- Yahoo
Apple Inc. (AAPL) 'Cannot Get Out Of Its Own Way,' Says Jim Cramer
We recently published . Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer recently discussed. Apple Inc. (NASDAQ:AAPL)'s shares have struggled quite a lot in 2025. The stock has lost 14.7% year-to-date on the back of concerns about the firm's China supply chain and market opinions about its AI products. Cramer has continued to defend Apple Inc. (NASDAQ:AAPL) throughout 2025. He believes that the firm's product quality is unparalleled in the market, which lends it a stable demand for its smartphones in particular. The CNBC host has also outlined earlier that he will change his mind about Apple Inc. (NASDAQ:AAPL) if the firm starts losing market share to Samsung. here are his recent thoughts: '. . .Apple, which cannot get out of its own way. And I think probably could go down to 25 times earnings. Which is a substantial decline. Apple's a share donor. It's a share donor. A wide view of an Apple store, showing the range of products the company offers. Earlier, Cramer discussed Apple Inc. (NASDAQ:AAPL)'s troubles in China: 'Apple's pulling off something amazing, moving about 20% of their iPhone manufacturing to India, but the rest are still coming from China. Still, the White House doesn't care. They want those phones made in America, so they're threatening a 25% tariff on the ones from India… What a shame. Apple is a huge employer in China, and China's a huge market for Apple, but the White House is making them leave, and they're not even getting any credit for it. If Trump wants leverage with China, he should be doing everything he can to make Apple move its manufacturing literally anywhere else and not tariff them… You have to play with the cards you've been dealt. And for decades, our government did everything it could to encourage outsourcing to China. They left us with a pretty lousy darn hand, both Republicans and Democrats. Between NVIDIA and Apple, Trump has a lot of leverage, but he doesn't want to use it. Those two companies seem hostage to totally different agendas inside the White House.' While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio


Bloomberg
an hour ago
- Bloomberg
China Exempts Major EU Brandy Makers From Anti-Dumping Duty
China imposed anti-dumping duties on European brandy for five years, while exempting major cognac makers that meet a price commitment. The duties of as much as 34.9% will be imposed on European brandy shipments from July 5, according to a statement from the Ministry of Commerce. Exemptions apply to those that meet the price commitment made by some industry associations and companies from the bloc, the ministry said.