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<keyword id="3205550" type="UNKNOWN" weightage="100" keywordseo="LeEco">LeEco</keyword> has swiftly implemented its upgraded strategy by appointing a new top executive for <keyword id="68550" type="COMPANY" weightage="20" keywordseo="asia-pacific">Asia-Pacific</keyword> region while receiving major financial support from investors. 
 Mr. <keyword id="3849042" type="UNKNOWN" weightage="20" keywordseo="Anthony-Gao">Anthony Gao</keyword> (<keyword id="3849326" type="PERSON" weightage="20" keywordseo="Gao-Jun">Gao Jun</keyword>) will assume the position of President of <keyword id="3849329" type="UNKNOWN" weightage="20" keywordseo="leeco-apac">LeEco APAC</keyword>, concurrently the Chief Executive Officer of LeEco <keyword id="24349" type="COMPANY" weightage="20" keywordseo="Hong-Kong">Hong Kong</keyword>. Responsible for operational management and meeting various business targets, <keyword id="16601" type="ORGANIZATION" weightage="20" keywordseo="Gao">Gao</keyword> will report directly to Mr. YT Jia, Founder, and CEO of <keyword id="3849043" type="UNKNOWN" weightage="20" keywordseo="LeEco-Global">LeEco Global</keyword>. 
 Mr. Gao has extensive experience in the technology industry. Before joining LeEco, Gao spent 17 years in <keyword id="6357456" type="CITY" weightage="20" keywordseo="Huawei">Huawei</keyword> in various senior executive positions including CEO of <keyword id="631575" type="COMPANY" weightage="20" keywordseo="Huawei-Device">Huawei Device</keyword> in China, President of <keyword id="3849328" type="UNKNOWN" weightage="20" keywordseo="global-sales-and-technical-service-department">Global Sales and Technical Service Department</keyword>, and President of <keyword id="3849330" type="UNKNOWN" weightage="20" keywordseo="global-strategy-and-marketing-department">Global Strategy and Marketing Department</keyword>. Gao currently heads LeEco’s VR and AR company as well as <keyword id="224533" type="ORGANIZATION" weightage="20" keywordseo="MFL">MFL</keyword> (Made for LeEco), LeEco’s initiative for open smart hardware ecosystem. His leadership in these businesses will remain. 
	 
	On the financing front, LeEco has secured a US$600 million of funding from major Chinese institutional investors today. The first half of the funding will be transferred to LeEco within this November and will support LeEco Global and LeEco’s electric vehicle business. 
	 
	LeEco is undergoing a series of strategic and organizational upgrades as it enters the second phase of its strategy, where the focus shifted from aggressive expansion to positive and sustainable growth and acquisition of high-value user. 
	 “Although there are doubts surrounding LeEco, true innovative entrepreneurs can see the investment value of LeEco and its enormous growth potential in the future,” said <keyword id="3849327" type="UNKNOWN" weightage="20" keywordseo="hank-liu-hong">Hank Liu Hong</keyword>, Co-Founder and Vice Chairman of LeEco.

LeEco gets new APAC President and secures US$600 million new funding

New Delhi, Apr 21 () Markets regulator Sebi on Tuesday disposed of insider trading charges against Kotak Mahindra Life Insurance Company in the matter of Manappuram Finance. It was alleged that Kotak Mahindra Life Insurance Company (earlier known as Kotak Mahindra Old Mutual Life Insurance) sold shares of Manappuram Finance Ltd (MFL) while in possession of unpublished price sensitive information (UPSI) about the company and thereby violated insider trading norms. Sebi, pursuant to investigation in the matter of selective disclosure of UPSI by MFL, observed that Kotak had sold its shares while allegedly in possession of UPSI during March 1-20, 2013 and allegedly violated PIT (Prohibition of Insider Trading) Regulations. Sebi noted that officials of MFL met Ambit Capital Pvt Ltd's research analysts on March 18, 2013 to seek market guidance about the quarterly results and future outlook. Ambit published a research report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours. In the research report, Ambit had changed its rating of MFL's stock from "buy" to "under review." Ambit published the report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours. The information of negative profit for the fourth quarter of FY2012-13, which is deemed to be price sensitive information, was disclosed to the stock exchanges by MFL on March 20, 2013 after market hours and the information was already in the public domain before that. Sebi said Kotak was not in a position to know that the information that was distributed in the research report or discussed in the conference call or being covered by media is UPSI. The transactions of Kotak was purely from the point of view of the individual holding life insurance policies issued by the company, and selling of the scrip of MFL during that time was necessary to avoid significant loss to the policy holders in the scheme, since the price of the scrip was rapidly falling after the research report was issued in the morning of March 19, 2013, it added. "It may be noted that the noticee (Kotak) is bound by its fiduciary responsibility with the policy holders to act in their best interest," Sebi said. "I do not find a reasonable and acceptable degree of probability towards proving beyond doubt or even, without existence of significant doubt that Noticee (Kotak) had traded in the scrip of MFL when in possession of UPSI and hence, the allegation of violation of...PIT Regulations...does not stand established," Sebi Adjudicating Officer Vijayant Kumar Verma said while disposing of the show cause notice without any penalty. Earlier, Sebi had disposed of insider trading allegations against four mutual fund houses -- SBI Funds Management, Aditya Birla Sunlife AMC, IDFC Asset Management Company and BNP Paribas Asset Management -- in the same matter. SP RVK

Manappuram Fin: Sebi disposes of insider trading charges against Kotak Mahindra Life Insurance Co 

New Delhi, Apr 13 () Markets regulator Sebi on Monday disposed of insider trading charges against two mutual fund houses - SBI Funds Management and Aditya Birla Sunlife AMC - in the matter of Manappuram Finance.It was alleged that the two fund houses had sold shares of Manappuram Finance Ltd (MFL) while in possession of unpublished price sensitive information (UPSI) about the company and thereby violated insider trading norms.Sebi, pursuant to investigation in the matter of selective disclosure of unpublished price sensitive information by MFL, observed that the two fund houses had sold its shares while allegedly in possession of UPSI during March 1-20, 2013 and allegedly violated PIT (Prohibition of Insider Trading) Regulations.Sebi noted that officials of MFL met Ambit Capital Pvt Ltd's research analysts on March 18, 2013 to seek market guidance about the quarterly results and future outlook.Ambit published a research report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours.In the research report, Ambit had changed its rating of MFL's stock from "buy" to "under review."Ambit published the report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours.The information of negative profit for the fourth quarter of FY2012-13, which is deemed to be price sensitive information, was disclosed to the stock exchanges by MFL on March 20, 2013 after market hours and the information was already in the public domain before that.Sebi said the asset management companies (AMCs) were not in a position to know that the information that was distributed in the research report or discussed in the conference call or being covered by media is UPSI.The transactions of the asset management companies was purely from the point of view of the unit holders in the mutual fund and selling of the scrip of MFL during that time was necessary to avoid significant loss to the unit holders in the scheme, since the price of the scrip was rapidly falling after the research report was issued in the morning of March 19, 2013, it added."I do not find a reasonable and acceptable degree of probability towards proving beyond doubt or even, without existence of significant doubt that Noticee (the two fund houses) had traded in the scrip of MFL when in possession of UPSI and hence, the allegation of violation of...PIT Regulations...does not stand established," Sebi Adjudicating Officer Vijayant Kumar Verma said in similarly worded separate orders."I hereby dispose of the SCN (show cause notice) in the matter without any penalty," he added.Last month, Sebi had disposed of insider trading allegations against IDFC Asset Management Company and BNP Paribas Asset Management in the same matter. SP SHWBAL

Manappuram Fin: Sebi disposes of insider trading charges against SBI MF, Aditya Birla Sunlife MF

New Delhi, Mar 30 () Shares of Shriram Transport Finance Company Limited (STFC) on Monday plunged 16 per cent after Fitch Ratings downgraded long-term issuer default ratings of the NBFC alongwith two others on increasing macro-economic challenges following the coronavirus pandemic. These non-banking financial companies are Shriram Transport Finance Company Limited (STFC), Muthoot Finance Limited (MFL) and India Infoline Finance Limited (IIFL). Scrip of Shriram Transport declined 15.92 per cent to close at Rs 609.10 on the BSE. During the day, it dropped 17.73 per cent to Rs 596. Muthoot Finance fell by 1.01 per cent to close the trade at Rs 612 after falling 4.73 per cent to Rs 589 in intra-day. The long-term issuer default ratings (IDRs) of STFC and MFL have been downgraded to BB from BB+, while that of IIFL to B+ from BB+. "The rating actions reflect increasing macro-economic challenges for the Indian non-bank financial institution (NBFI) sector. These include the growing effects from measures to contain the COVID-19 pandemic, which will compound the tightening in funding conditions for NBFIs in recent weeks," it added. The RBI's recent liquidity and regulatory support measures should help to improve the funding environment in near-term, but it also underlines the severity of the situation and Fitch sees continued uncertainty in the coming months nonetheless, the global ratings agency said. Meanwhile, the broader market also depicted a weak trend as the BSE benchmark tumbled 1,375.27 points to close at 28,440.32. SUM SHWSHW

Shriram Transport shares tank 16 pc after ratings downgrade '

<ul class="summary-list"><li>Candidates in the Conservative leadership contest can spend up to £300,000.</li><li>Insider has analysed donations to the 10 declared candidates, plus Priti Patel.</li></ul>Voting in the Conservative Party leadership contest is due to begin Tuesday afternoon, with the UK expected to learn the name of its new prime minister by September 6. So far there are 10 candidates confirmed, although Home Secretary Priti Patel has yet to say whether she is running, and has accrued at least 13 supporters without declaring.Candidates can spend £300,000 this year, double the spending limit in the 2019 contest, and equivalent to the spending limit for three Parliamentary by-elections.That only covers funds spent after the formal beginning of the campaign, which will be good news for those with flashy videos released (and possibly re-released) last week. Teams don't have to declare for a month after receiving the donation. In the meantime Insider takes you through the 11 candidates's declared donations to see what their war chests could be, should they make it past the <a href="https://www.businessinsider.com/boris-johnsons-replacement-to-be-announced-september-5-2022-7?r=US&amp;IR=T">first few elimination rounds</a>. <h2>Ready for Rishi </h2>Rishi Sunak declared £50,000 received by his local party organisation in November 2021, but has received no personal donations in the past year. The £50,000 came from Dean Benson, a Teesside millionaire.All being said, Sunak's <a href="https://www.thetimes.co.uk/article/rishi-sunak-becomes-first-frontline-politician-to-join-sunday-times-rich-list-2022-zksx9bprq">probably rich enough</a> to put his hand in his own pocket – and the £16,876 redundancy payment he's entitled to for resigning from being Chancellor will help too. But Sunak's team have told Insider he will not be funding his own campaign and they'll be taking donations. There's been <a href="https://twitter.com/AVMikhailova/status/1546178782444359681/photo/1">awkward news in the Mail on Sunday already about his launch video</a> and how it features Diageo and Guinness, given his campaign is being run by Beer APPG vice-chair Lord Smith of Hindhead. <h2>PM4PM</h2>Penny Mordaunt has had nothing coming her way in the past year, but Mordaunt's previously received £20,000 from First Corporate Consultants, a firm run by Bristol Port Company owner Terence Mordaunt (no relation).The Port Company gave £25,000 to Boris Johnson and Jeremy Hunt each last time they ran for the leadership.Mordaunt's local association received £3,000 from billionaire donor Sir Michael Hintze in October 2019, but that was part of nearly £300,000 given by Hintze to the Conservative Party for the general election. Hintze is also in line for a peerage in Johnson's resignation honours, <a href="https://www.thetimes.co.uk/article/boris-the-cat-with-nine-lives-has-finally-been-neutered-nq7hnwndv">The Sunday Times reported</a>.<a href="https://www.businessinsider.com/minister-criticises-tory-mps-for-meeting-with-donor-alexander-temerko-2022-3?IR=T&amp;r=US&amp;utm_medium=referral&amp;utm_source=yahoo.com">Mordaunt is unlikely to be accepting donations from Alexander Temerko, though</a>.<h2>Tom: A Clean Start</h2>Tom Tugendhat, the Foreign Affairs Committee chair, <a href="https://www.businessinsider.com/tom-tugendhat-urges-more-caution-in-taking-political-donations-2022-3?r=US&amp;IR=T">warned in</a><a href="https://www.businessinsider.com/tom-tugendhat-urges-more-caution-in-taking-political-donations-2022-3?r=US&amp;IR=T"> a March interview with Insider</a> that MPs and political parties should exercise greater caution in accepting donations, noting he had "declined" donations "from certain people" who would go on to or had given money to other politicians.Tugendhat's launch event was attended by Michael Tory, a political donor and investment banker who has previously given the Conservatives nearly £350,000 but most recently gave £15,000 to the Liberal Democrats in the 2019 general election. Tory told the Sunday Times in early June that <a href="https://www.thetimes.co.uk/article/baa63336-e412-11ec-a6dd-97fa9f1901cf?shareToken=b4f93cdd5a1c9015cc22417c2c4fa25c">Johnson had to resign</a>. Tugendhat has also raked in £65,000 to support his work on the committee in the past year, including £25,000 from former Tory Party treasurer Lord (Michael) Spencer, who gave £20,000 to Sajid Javid in 2019. <h2>Liz for Leader</h2>Liz Truss's only entry in the register of members' interests for the past year is the £229.25 royalty payment for "Britannia Unchained", the page-turning 2012 treatise she co-authored with Kwasi Kwarteng, Priti Patel, Dominic Raab, and Chris Skidmore.Her donors since her 2010 election are pretty limited: £4,000 from Norfolk logistics businessman Richard Johnston and £2,000 from David Meller in 2015, last <a href="https://www.opendemocracy.net/en/dark-money-investigations/record-profits-tory-donors-firm-won-huge-ppe-contracts/">primarily seen in the PPE VIP fast-track lane, as openDemocracy reported</a>. Truss's own flashy video has got into a bit of hot water already over questions about <a href="https://twitter.com/ShippersUnbound/status/1546427236349247492">the use of footage filmed by civil servants, not special advisers</a>.Her HQ is based at Lord Greville Howard's 11 Lord North Street townhouse, where one Boris Johnson ran his campaign in 2019.<h2>NZ4PM</h2>Nadhim Zahawi is so rich, <a href="https://www.politicshome.com/news/article/nadhim-zahawi-says-hes-unsure-how-wealthy-he-is">he doesn't quite know how rich he is</a> – though seemingly not rich enough to spark the interest of the Sunday Times Rich List research team.He could self-fund his campaign, potentially getting another mortgage out on either his property and 31 acres of land in Warwickshire with <a href="https://www.theguardian.com/politics/2013/nov/10/nadhim-zahawi-admits-taxpayers-electricity-stables">(heated) stables</a>; his London house; or his Dubai apartment. Or he could sell his shares worth more than £70,000 in BT.Zahawi has had no donors in the past year, but during the 2019 general election his constituency was helped out by £3,000 from Lord Peter Cruddas; £5,000 from Jo Bamford, heir to the JCB empire; and £2,000 from Iraqi-born financier Raed Hanna's MFL Finance.The newly-appointed Chancellor has pledged more transparency about his finances following a series of allegations <a href="https://www.independent.co.uk/news/uk/politics/chancellor-nadhim-zahawi-tax-investigation-hmrc-b2119590.html">he is under investigation by HMRC</a>, after he was previously probed by the National Crime Agency, and for good measure the Serious Fraud Office – but only once he's made PM, of course.Tory donor Dr Maurizio Bragagni told Insider <a href="https://twitter.com/nzforleader/status/1546609289778847748?s=24&amp;t=jJhXJM2O0DDwSLLLYjs06g">he'd be backing Zahawi</a>.A spokesperson for Zahawi's campaign told Insider: "Like all candidates we will be seeking donations from our supporters. These will all be declared in due course in line with the rules."<h2>Kemi for Prime Minister</h2>Kemi Badenoch has declared relatively little in the way of donors to date, aside from having her ticket to a Tory Party fundraiser last November paid by Hintze, and £26,755.20 worth of legal research on online abuse from branding consultant Jeremy Hildreth.But she has received the backing of Michael Gove, who may be able to assist given he was handed £100,000 from property developer Zak Gertler in August 2021, and £20,000 from Aberdeen-based property tycoon Alan Massie in May 2021.<h2>Priti Patel</h2>Priti Patel has not yet announced she's running, but if she does, she has been given £140,000 since February 2022: <a href="https://www.theguardian.com/politics/2022/apr/01/priti-patel-accepts-100000-donation-from-firm-run-by-oil-trader-pierre-andurand">£100,000 from venture capital firm Andurand Ventures</a>, and £40,000 from the directors of investment management firm Njord Partners.<h2>Win Back Trust with Jeremy Hunt</h2>Jeremy Hunt is back again for another pop at the top job. The former foreign secretary has not declared any donations in the past year to build up a war chest in advance.Insider has asked Alexander Temerko if he'll be backing him again, <a href="https://www.businessinsider.com/minister-criticises-tory-mps-for-meeting-with-donor-alexander-temerko-2022-3?r=US&amp;IR=T">after the two had lunch earlier this year.</a><h2>Suella 4 Leader</h2>Suella Braverman has had no donations in the past year, but she's previously been supported by telecommunications business boss Darren Ridge.Otherwise there is little in the way of apparent financial support to run a campaign, though she has been backed by Tory MP Richard Drax, <a href="https://www.theguardian.com/world/2021/apr/04/wealthy-mp-with-slave-trade-links-failed-to-publish-accounts-for-four-of-his-firms">believed to be worth more than £150 million</a>.<h2>Team Saj</h2>Sajid Javid earned almost £150,000 from JP Morgan from August 2020 to June 2021, another £113,000 from C3.ai, and nine months worth of C3.ai shares worth £45,000 per month.He's also previously been supported by Tory donor Lord Rami Ranger, so even <a href="https://twitter.com/sajidjavid/status/1546226346539483136">if he's not commissioned a brand new leadership bid film</a>, he's certainly got the earnings to do so. Team Saj told Insider funding would "all be declared in usual way in due course".<h2>Rehman Chishti</h2>Please get in touch with Insider if there's anything secretly damning hidden in Rehman Chishti's <a href="https://www.theyworkforyou.com/regmem/?p=24920">entry in the register of members' interests</a> that might stop a campaign that has barely begun, with Chishti yet to receive the public endorsement of any MPs other than, presumably, himself.

11 Tory leadership candidates' donors and war chests analysed ahead of £300,000 contest

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Early in 2015, I was invited to partake in a nine-year-old fantasy football league called the MFL - the Moscatiello* Football League.My girlfriend's father, his brothers, nephews, and friends get together each year for a fantasy football league more competitive, time-consuming, torturous, and, frankly, fun than any league I've ever heard of."Most leagues, it's all about money," John Moscatiello, one of the founding members and host of the draft each year, told me. "Our league - it's all about the wins, it's about getting the silly trophy, it's about trying to get a gold jacket, it's about trying not to be a clown."The MFL, as John told me, "is a unique league for reasons."First, a little background....*Pronounced "Musk-uh-tell-oh."

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LeEco gets new APAC President and secures US$600 million new funding

BI India Bureau

Manappuram Fin: Sebi disposes of insider trading charges against Kotak Mahindra Life Insurance Co

PTI

Manappuram Fin: Sebi disposes of insider trading charges against SBI MF, Aditya Birla Sunlife MF

PTI

Shriram Transport shares tank 16 pc after ratings downgrade '

PTI

11 Tory leadership candidates' donors and war chests analysed ahead of £300,000 contest

Henry Dyer

I went to the most insane fantasy football draft in New Jersey - here's how it went down

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