Indonesia Central Bank Sees 7%-9% Loan Growth in 2022

Fourth EstateBank of Indonesia

Indonesia is expected to see more business loans this year as result of improving economic activity, central governor Perry Warjiyo said on Friday. Warjiyo told an online briefing that Indonesia’s strong economic recovery from the pandemic — GDP grew 5.1% …

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Softbank Reports Staggering $27.5 Billion Loss

Fourth EstateSoftbank Sign - MIKI Yoshihito

Investment giant Softbank announced that its Vision Funds unit lost 3.5 trillion yen ($27.5 billion) in the fiscal year that ended in March. SoftBank’s Vision Fund, which invests in high-growth firms was founded by Masayoshi Son in 2017 as a …

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JPMorgan Drops Philippines to Worst ASEAN Investment Confidence as Dictator’s Son Leads Polls

JPMorgan dropped the Philippines to the bottom of an investment preference list of Southeast Asian countries as the son of a late dictator appears to be headed for a landslide win to the nation’s presidency. The U.S. investment bank did …

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Stanford Announces First Climate Change School With $1.1B From Venture Capitalist

Fourth EstateAnn and John Doerr provided $1.1 billion to create the Stanford Doerr School of Sustainability, - E. Caldwell | Stanford Univ.

Stanford University is launching a new school focused on climate change, with funding from John Doerr, a renowned Silicon Valley venture capitalist. Doerr and his wife Ann donated $1.1 billion to fund the Stanford Doerr School of Sustainability, the largest …

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EU Watchdog Eyes Crackdown on Misleading Ads for Online Financial Services

Fourth EstateThe European Securities and Markets Authority (ESMA),

The European Union’s securities watchdog proposed on Friday that regulators should have more powers to scrutinize financial services to protect retail investors from misleading marketing strategies. The European Securities and Markets Authority (ESMA) gave recommendations to the EU’s executive European …

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Huawei’s Profit Drops 67% After US Sanctions

Fourth EstateHuawei headquarters

Huawei announced a 67 percent drop in its profits during the first quarter of the year as the tech giant battles U.S. trade and investment sanctions. The company reported 131 billion yuan ($20.63 billion) in revenue for the first quarter, …

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Donald Trump Appeals Civil Contempt Order and $10,000 Daily Fine

Fourth EstateDonald Trump speaking at a "Make America Great Again" campaign rally in 2020 at Phoenix Goodyear Airport in Goodyear, Arizona. - Gage Skidmore

Former President Donald Trump filed to appeal the civil contempt order imposing a $10,000 daily fine for failing to comply with a subpoena, according to court documents filed on April 27. The fine went into effect on April 26 after …

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New York Judge Holds Donald Trump in Contempt for Failing to Produce Documents in Attorney General’s Investigation

A New York judge on April 25 held Donald Trump in contempt and fined him $10,000 a day until he turns over documents subpoenaed by the state attorney general’s office. New York County State Supreme Court Judge Arthur Engoron found …

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Netflix Loses Subscribers for the First Time in a Decade

Fourth Estate"Netflix Headquarters - "Netflix Headquarters" by HackingNetflix

Netflix lost subscribers for the first time in a decade at the start of the year and said it expects to lose even more. According to its first-quarter 2022 earnings released on April 19, the streaming giant lost 200,000 global …

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Philippines’ PLDT Sells Telecom Towers to Malaysian Firms for $1.5B

Fourth EstatePhilippines' PLDT Sells Telecom Towers to Malaysian Firms for $1.5B

PLDT, the Philippines’ largest telecom company, announced on Tuesday that it sold thousands of its telecoms towers to two Malaysian firms for 77 billion pesos ($1.47 billion). Smart Communications and Digitel Mobile Philippines, both PLDT subsidiaries, have signed deals to …

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