Goldman evaluating role in China’s Megvii IPO after US blacklist

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to


Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist. In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to
Goldman evaluating role in China’s Megvii IPO after US blacklist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


Goldman evaluating role in China's Megvii IPO after US blacklist

An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii booth at the MWC Shanghai exhibition in Shanghai, China, on June 27, 2019.

Goldman Sachs said on Tuesday it was reviewing its involvement in Megvii Technology’s planned initial public offering (IPO) after the U.S. government placed the Chinese artificial intelligence firm on a human rights blacklist.

The Trump administration said on Monday that Megvii and seven other Chinese companies were targeted because they were implicated in Beijing’s repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region in the far west of the country.

In an emailed statement in response to a request for comment on the Alibaba-backed Megvii IPO, Goldman said it was “evaluating in light of the recent developments.” Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion.

Risk consultants and Silicon Valley lawyers said that other U.S. companies involved with the blacklisted Chinese firms, whether as investors or as underwriters, are also likely to reevaluate their relationships.

Goldman is a joint sponsor of the Megvii IPO, alongside Citigroup and JPMorgan Chase, which both declined to comment.

Goldman had thoroughly evaluated the Megvii deal before initially signing onto it using its usual due diligence process, a person familiar with the matter said.

Known in the artificial intelligence business for its facial recognition platform Face++, Megvii will become the first Chinese AI firm to go public if the deal goes ahead. The company provides facial recognition and other AI technology to governments and companies including Alibaba, Ant Financial, Lenovo Group and Huawei.


Company: cnbc, Activity: cnbc, Date: 2019-10-09
Keywords: news, cnbc, companies, chinese, firm, goldman, intelligence, evaluating, chinas, recognition, blacklist, shanghai, facial, megvii, ipo, role, public, companies


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Paul Manafort disappointed in verdict, evaluating all his options, lawyer says

President Donald Trump’s former campaign chairman Paul Manafort is evaluating all his options after he was found guilty of eight criminal counts, his lawyer Kevin Downing said Tuesday. “Mr. Manafort is disappointed of not getting acquittals all the way through or a complete hung jury on all counts,” Downing said outside the courthouse in Alexandria, Virginia. A jury found Manafort guilty on five counts of tax fraud, two counts of bank fraud and one count of failing to file foreign bank account r


President Donald Trump’s former campaign chairman Paul Manafort is evaluating all his options after he was found guilty of eight criminal counts, his lawyer Kevin Downing said Tuesday. “Mr. Manafort is disappointed of not getting acquittals all the way through or a complete hung jury on all counts,” Downing said outside the courthouse in Alexandria, Virginia. A jury found Manafort guilty on five counts of tax fraud, two counts of bank fraud and one count of failing to file foreign bank account r
Paul Manafort disappointed in verdict, evaluating all his options, lawyer says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: christine wang, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, guilty, verdict, fraud, lawyer, trial, options, manafort, evaluating, counts, campaign, jury, disappointed, trumps, paul, tax


Paul Manafort disappointed in verdict, evaluating all his options, lawyer says

President Donald Trump’s former campaign chairman Paul Manafort is evaluating all his options after he was found guilty of eight criminal counts, his lawyer Kevin Downing said Tuesday.

“Mr. Manafort is disappointed of not getting acquittals all the way through or a complete hung jury on all counts,” Downing said outside the courthouse in Alexandria, Virginia.

He said Manafort thanked U.S. District Court Judge T.S. Ellis for a fair trial and the jury “for their very long and hard fought deliberations.”

A jury found Manafort guilty on five counts of tax fraud, two counts of bank fraud and one count of failing to file foreign bank account reports. Ellis declared a mistrial on the 10 remaining counts for which the jurors said they had not reached a consensus.

Tuesday’s verdict came after four days of deliberation, which followed a 16-day trial. It also arrived at nearly the same moment that Trump’s longtime personal lawyer, Michael Cohen, pleaded guilty to tax fraud and making an excessive campaign contribution.

Manafort’s trial was the first borne of charges lodged by special counsel Robert Mueller’s investigation into Russian interference in the 2016 campaign. Manafort, 69, faces another federal trial in September in Washington, D.C., which also stems from the Russia probe.

— CNBC’s Dan Mangan and Kevin Breuninger contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: christine wang, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, guilty, verdict, fraud, lawyer, trial, options, manafort, evaluating, counts, campaign, jury, disappointed, trumps, paul, tax


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Papa John’s is evaluating its NFL sponsorship amid declining ratings and player protests

Papa John’s is reconsidering its sponsorship of the NFL amid declining ratings, the pizza chain confirmed to CNBC. Papa John’s executives told The Wall Street Journal that top executives discuss returns on their advertising dollars with the NFL weekly and will see what happens for the rest of the season before making a decision. Additionally, Papa John’s is completely rethinking its advertising strategy as consumers cut the cord and move to digital. The pizza delivery chain has put some of the b


Papa John’s is reconsidering its sponsorship of the NFL amid declining ratings, the pizza chain confirmed to CNBC. Papa John’s executives told The Wall Street Journal that top executives discuss returns on their advertising dollars with the NFL weekly and will see what happens for the rest of the season before making a decision. Additionally, Papa John’s is completely rethinking its advertising strategy as consumers cut the cord and move to digital. The pizza delivery chain has put some of the b
Papa John’s is evaluating its NFL sponsorship amid declining ratings and player protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-03  Authors: angelica lavito, getty images
Keywords: news, games, cnbc, companies, papa, wall, player, johns, evaluating, ratings, amid, told, sponsorship, nfl, executives, protests, street, pizza, declining


Papa John's is evaluating its NFL sponsorship amid declining ratings and player protests

Papa John’s is reconsidering its sponsorship of the NFL amid declining ratings, the pizza chain confirmed to CNBC.

Papa John’s executives told The Wall Street Journal that top executives discuss returns on their advertising dollars with the NFL weekly and will see what happens for the rest of the season before making a decision. Additionally, Papa John’s is completely rethinking its advertising strategy as consumers cut the cord and move to digital.

“We are anxiously awaiting a solution to be created. That’s what will put the league in a positive place for the players, the fan base and the partners associated with them,” Papa John’s president and chief operating officer Steve Ritchie told The Wall Street Journal.

The pizza delivery chain has put some of the blame for the declining ratings on player protests of police brutality during the national anthem.

Papa John’s founder John Schnatter slammed NFL leadership on Wednesday for not resolving the kneeling protests. He blamed the NFL for lackluster third-quarter pizza sales as the company’s stock sank 11 percent.


Company: cnbc, Activity: cnbc, Date: 2017-11-03  Authors: angelica lavito, getty images
Keywords: news, games, cnbc, companies, papa, wall, player, johns, evaluating, ratings, amid, told, sponsorship, nfl, executives, protests, street, pizza, declining


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