Posts by Mark Darwin
Shein, Temu, Amazon Haul set for price hikes as US shuts trade loophole
SHEIN, Temu and Amazon Haul prices are likely to rise for American shoppers, analysts and industry experts said, after US President Donald Trump this week shut a trade loophole that has been used to ship low-value packages duty-free from China. Fast-fashion retailer Shein and online dollar-store Temu, both of which sell products ranging from toys…
Read MoreKKR quarterly profit beats expectation on dealmaking revival
ALTERNATIVE asset manager KKR & Co reported a fourth-quarter profit that beat Wall Street expectations on Tuesday (Feb 4), as a rebound in dealmaking activity boosted its income from asset sales. The Federal Reserve’s recent interest rate cuts and Donald Trump’s return to the White House have powered a resurgence in deals. KKR’s fee-related earnings…
Read MoreScandal-hit unicorn eFishery ropes FTI Consulting into acting management team
The move ‘aims to facilitate a thorough and objective business review to determine the best path forward for the group’, says eFishery’s board INDONESIAN aquaculture startup eFishery on Tuesday (Feb 4) announced that it has involved business consulting and management advisory FTI Consulting in the acting management of the company, with immediate effect. This comes…
Read MoreUBS has cut 10,000 jobs since Credit Suisse takeover in 2023
UBS Group has cut more than 10,000 roles since it bought Credit Suisse, marking a milestone in the lender’s efforts to integrate its former rival. Global headcount stood at 108,648 at the end of last year, UBS said on Tuesday (Feb 4). That’s down from a peak of 119,100 at the end of June 2023,…
Read MoreNintendo cuts outlook for final months before Switch 2 debut
Nintendo revised its full-year forecast down after profit and revenue plummeted over the holiday period, with gamers increasingly looking forward to the release of its next-generation console. The Kyoto-based company now expects 280 billion yen (S$2.44 billion) in operating income in the fiscal year to March, slashing more than a fifth from its prior forecast.…
Read MoreTemasek and CenterSquare launch US$100 million commercial real estate debt co-investment vehicle
The portfolio continues a strategy across the global real state investment manager’s debt fund series TEMASEK and CenterSquare Investment Management have launched a US$100 million commercial real estate debt co-investment vehicle that will invest in commercial real estate loans. Once fully funded, the vehicle will have US$200 million to deploy and will invest in high-quality…
Read MoreGIC makes senior leadership changes, appoints new group CIO
Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm GIC’S deputy group chief investment officer (CIO) Bryan Yeo will ascend to the role of group CIO on Apr 1, following the retirement of Jeffrey Jaensubhakij. Jaensubhakij steps down after almost three decades at the firm to take on…
Read MoreUBS trounces profit forecasts, US$3 billion share buyback conditional on capital rules
UBS Group on Tuesday (Feb 4) posted fourth-quarter profit that beat forecasts by a wide margin and said it would buy back up to US$3 billion in shares this year if there were no major changes to bank capital rules in Switzerland in the near term. The country’s largest lender, which has made progress in…
Read MoreUBS quarterly profit smashes expectations, US$3 billion buyback unveiled
UBS Group, Switzerland’s largest bank, on Tuesday (Feb 4) posted net income of US$770 million for the fourth quarter of 2024, trouncing forecasts. The net profit attributable to shareholders compared with an average estimate of US$483 million in a company-provided poll of analysts. The lender also announced a share buyback programme of up to US$3…
Read MoreGrab weighs takeover of rival GoTo at US$7 billion valuation
GRAB Holdings and GoTo Group have accelerated merger talks and are targeting a deal this year, seeking to end years of losses in South-east Asia’s competitive Internet market. The takeover could see a valuation of over US$7 billion, Bloomberg reported. One scenario being discussed is an all-stock purchase valuing shares of Indonesia’s GoTo at more…
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