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On November 14th, Morgan Stanley stated that JD Healths (06618.HK) management is confident in achieving or exceeding its 2025 revenue growth target of 22% year-on-year, and has raised its adjusted net profit target to RMB 6.2 billion (previously approximately RMB 5.6 billion to 5.7 billion). Due to gross margin expansion and prudent cost control, adjusted operating profit (up 59.9% year-on-year) and adjusted net profit (up 42.4% year-on-year) are 39% and 15% higher than market expectations, respectively. Morgan Stanley maintains an "Equal-weight" rating on JD Health with a target price of HKD 60.On November 14th, Google (GOOG.O) submitted a restructuring plan to the European Commission after being fined €2.95 billion (approximately $3.42 billion) by the European Union for monopolistic practices in its ad technology business. However, the company did not propose splitting up the relevant business. In a statement on Friday, Google said, "Our proposal fully complies with the European Commissions decision while avoiding disruptive splitting measures that could harm thousands of European publishers and advertisers who rely on Google tools to expand their businesses." The company stated that it has submitted several proposals to adjust its ad technology operating model in the EU, including allowing publishers to set differentiated minimum prices for different bidders when using the Google Ads Management platform, and improving the interoperability of Google tools with third-party products to broaden customer choices. Google stated that it will continue to cooperate with EU officials during their evaluation of the proposals.South Koreas Ministry of Trade: South Korea and the United States will select an implementation plan for strategic investment by January 2029.South Koreas Ministry of Trade: South Korea and the United States signed a memorandum of understanding on a $350 billion strategic investment.Market news: Alphabets Google (GOOGL.O) has indicated its willingness to adjust its adtech business policies to comply with EU antitrust orders. Google has refused to sell parts of its adtech business, arguing that a breakup would disrupt publishers and advertisers.

U.S. House committee chair says Bankman-Fried subpoena ‘definitely on the table’

Jimmy Khan

Dec 08, 2022 15:35

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Sam Bankman-subpoena Fried's was "certainly on the table," according to Maxine Waters, chair of the U.S. House of Representatives Financial Services Committee.


Waters' tweet was in response to a CNBC report that said she had no plans to summon Bankman-Fried to testify before Congress on December 13 earlier in the day.


The FTX founder must appear in court, according to Waters, who had stated on Twitter that the committee was "prepared to schedule continued hearings if there is more material to be disclosed later."