Hello and welcome to Asia Business report. Im arunoday mukharji. Electronics giant foxconn is under investigation in china. Authorities are carrying out on Site Investigations in multiple locations the Company Operates in, according to Chinese State media. Business reporter Suranjana Tewari is here with the details. Give us a sense of what we know moment. Chinese state at the moment. Chinese state media say that foxconn is under investigation within china at some of its subsidiaries. Its some of its subsidiaries. Its not clear some of its subsidiaries. Its not clear as some of its subsidiaries. Its not clear as the some of its subsidiaries. It s not clear as the global times did not specify what it is under investigation for but it did allude to something related to taxes, to land use and the breaking of some sort of law and regulation. Foxconn is an Electronics Giant and makes apple iphones for the global market. It is a Taiwanese Company but has had good relations with the Chinese Go
Is a Taiwanese Company has got good relations with the Chinese Government which is why it has so many factories on the mainland. Foxconn says it will cooperate with authorities and respond to whatever it is asked. ~. , respond to whatever it is asked. ~. Respond to whatever it is asked. ,. , asked. What you make of the timin asked. What you make of the timing of asked. What you make of the timing of the asked. What you make of the timing of the developments . J timing of the developments . Its not clear why its happening now. What we do know is its a sensitive time for taiwan. Two and a half months from a president ial election which will be of interest to china. China claims taiwan as its own, although it is a self governed territory. The other interesting thing is that the former foxconn ceo and Chief Executive and founder recently cut ties with the company so he could run in and theres no indication it might be a coincidence and at an interesting time for them to be investigated in
Of the biggest sale of shares in years. A proper us welcome for the crown jewel of uk technology. Arm holdings was born and raised in cambridge, england. Now you may not have heard of arm holdings, but i almost guarantee you own something with Arm Technology inside it. Arm design chips are in 99 of all the smartphones in the world. In fact, 70 of the global population are estimated to have something phone, tablet, gaming, console with arm stuff inside it. And 30 billion arm design chips were sold worldwide last year alone to customers that include google, apple, amazon, microsoft and others, some of whom took a stake in the company today. The boss told me he wanted to be listed with those other global Tech Heavyweights in new york. When we look at all of the opportunities in terms of listing, when we just looked at the size of listing that we had and the Tech Companies that we are peer groups with, we thought new york would be the best location. Does it mean decisions about the future
3.i% of 9.1% in mid 2022 tojust 3.1% in november above the target of 2% and jerome powell said they had not ruled out raising rates again in the future. still, all three major markets finished higher in industrial average more than 500 points to a record close and this is the third time in a row after central bank decided against other hike and for investors, satisfying this the only question on their mind is when will the feds start cutting them. that happened in the us overnight in from investment firms, they gave me her take on what the decision means the rest of the world. i did this is a very good question we have seen in this business cycle is the us praise to delete other markets and we can only take signalled what is happening and the progress on inflation that makes it feel comfortable to cut interest rates and i wonder what the next step will be if other central banks will get to this stage and easing financial conditions in the markets that is a part of the puzzle,
he s there for two days, and the visit is aimed at strengthening ties with its southern neighbour. china is already vietnam s biggest investor. this year, registered investment from mainland china and hong kong combined doubled to more than $8 billion. that s compared to 2022 when pandemic restrictions were still in place in china. but with the us pushing to grow its influence in the region, beijing is also clinging to deepen relations with hanoi even further. raji biswas from s&p global market intelligence describes what s at stake for both countries. i think it s very much reflecting the importance of vietnam for china economically and of course it s an important neighbour as well. so, the political relationship, i think that will be important in terms of president xi s visit to strengthen bilateral ties further. but also, vietnam has become increasingly important in its own right as an export market for china. it s now the fifth largest export market for china and it s gro