South Korea’s financial authorities have announced their intention to impose record fines on two global investment banks for engaging in illegal short selling activities. The banks, based in Hong Kong, are accused of violating the rules on short selling by selling stocks without borrowing them first. This practice, known as naked short selling, is considered illegal in South Korea and could have given the banks an unfair advantage over other…

Climate tech sector outperforms the overall venture capital market According to a report by PwC, investment and grants in climate tech startups have fallen just over 40% over the last 12 months, but that plunge is less precipitous than the broader venture capital industry globally. The report on the state of climate tech described investors as narrowing their focus to areas that need it most, such as heavy industries; climate…

LinkedIn, the business-focused social media platform owned by Microsoft, announced on Monday that it would be reducing its workforce by approximately 668, becoming the latest tech company to conduct mass layoffs. The company said the roles being cut span across engineering, product, talent and finance teams. Adapting to changing business needs In a blog post, LinkedIn said that the layoffs were a result of adapting organisational structures and streamlining decision-making.…