Daily Brief - 9 May 2024

Takeda invests $900 million in major restructuring for better profits

Takeda Pharmaceutical Co. is set to undergo a significant restructuring, investing 140 billion yen (about $900 million) in the process during the fiscal year 2024.

The Japanese company aims to boost its core operating profit margin by more than 30% through this plan. They will streamline their workforce and put money into technology and data systems. This strategy is designed to increase the company's efficiency and ultimately provide greater value to patients.

The initiative marks a strategic move to strengthen Takeda's long-term financial health and market position.

Segantii Capital reports slight gain amid insider trading allegations

Segantii Capital Management, an Asian hedge fund, has reported a modest gain of about 0.3% in April, despite facing insider trading charges. The firm, which manages the $4.8 billion Segantii Asia-Pacific Equity Multi-Strategy Fund, also noted a first quarter return of 2.51%.

These updates were shared after Hong Kong authorities charged the fund with insider trading related to a block trade. Segantii is reassuring investors that operations continue as normal, even as they face these serious allegations.

The company's CEO, Kurt Ersoy, has chosen not to comment on the charges. The fund, known for its strong performance over 16 years, is currently preparing to defend itself vigorously in court.

WhatsApp unexpectedly accessible for some in China despite ban

In a surprising turn of events, WhatsApp has started working for some users in Beijing and Shanghai without the need for VPNs. This unusual access emerged shortly after Apple complied with Beijing's request to remove WhatsApp from its Chinese app store.

The sudden accessibility of WhatsApp, which is owned by Meta Platforms Inc., has not been officially commented on by either WhatsApp or the Chinese authorities.

It remains unclear how widespread this access is or what has caused the change, especially as other foreign social media services remain unavailable in China. This incident could represent a rare glitch in China's extensive internet restrictions.