Posts by Mark Darwin
Japan competition authorities raid Amazon Japan: source
JAPAN’S Fair Trade Commission on Tuesday conducted an on-site inspection of Amazon Japan on suspicion of violating anti-monopoly laws, a government source said. The unit of Amazon.com Inc is suspected of inappropriately urging sellers to lower their prices on its e-commerce site in exchange for giving their products advantageous placement on the site, the source…
Read MoreQualcomm’s takeover interest in Intel is said to cool
QUALCOMM’s interest in pursuing an acquisition of Intel has cooled, according to sources familiar with the matter, upending what would have likely been one of the largest technology deals of all time. The complexities associated with acquiring all of Intel has made a deal less attractive to Qualcomm, said some of the sources, asking not…
Read MoreGold falls further on stronger US dollar, easing geopolitical tensions
GOLD prices fell on Tuesday (Nov 26) to their lowest in more than a week, weighed down by a stronger US dollar and reports of a potential Israel-Hezbollah ceasefire that dampened safe-haven demand. Spot gold was down 0.2 per cent at US$2,621.06 per ounce, as at 0023 GMT, after hitting its lowest since Nov 18…
Read MoreSTI edges down, following mixed Asia markets amid threat of Trump tariffs
SINGAPORE stocks were trading lower on Tuesday (Nov 26), following a mixed picture in other Asian markets after US president-elect Donald Trump said he would impose an extra 10 per cent tariff on Chinese goods. As at noon, the Straits Times Index (STI) was down 0.3 per cent or 11.15 points to 3,720.24. Across the…
Read MoreStarbucks using pen and paper to track pay after vendor hack
STARBUCKS said a ransomware attack at a third-party software supplier has disrupted its system for tracking employee schedules, forcing the coffee giant to manually tally workers’ hours and pay. Blue Yonder Group, a Panasonic subsidiary that provides supply chain management software, said its systems were disrupted by a Nov 21 “ransomware incident”. Starbucks is among…
Read MoreStocks to watch: Sats, Sembcorp
THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 26): Sats: The in-flight caterer and ground handler intends to divest 49 per cent of its interest in its Saudi Arabia cargo-handling subsidiary for S$52.6 million to a private limited company incorporated in the kingdom. Sats will continue to…
Read MoreTrump crypto project gets US$30 million investment from Justin Sun
THE controversial China-born crypto entrepreneur Justin Sun has invested US$30 million in President-elect Donald Trump’s World Liberty Financial, making him the largest investor in the decentralised finance (DeFi) project. “The US is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump!,” Sun, the founder of the cryptocurrency firm Tron, announced in a post on…
Read MoreRBNZ set to join aggressive rate cutters with second big move
NEW Zealand’s central bank is expected to lower interest rates by half a percentage point for a second straight meeting, becoming one of the most aggressive cutters among its Western peers. The Reserve Bank of New Zealand (RBNZ) will reduce the Official Cash Rate by 50 basis points to 4.25 per cent on Wednesday (Nov…
Read MoreMacy’s delays Q3 report on accounting issue, expects weaker sales
Macy’s on Monday (Nov 25) delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations. A single employee “intentionally” made wrong accounting entries to hide about US$132 million to US$154 million of delivery expenses from the…
Read MoreSats unit to shed stake in Saudi Arabia subsidiary for S$52.6 million
IN-FLIGHT caterer and ground handler Sats intends to divest 49 per cent of its interest in its Saudi Arabia cargo-handling subsidiary for S$52.6 million to a private limited company incorporated in the kingdom. Mainboard-listed Sats and its wholly owned subsidiary Sats Airport Services (SAS) on Monday (Nov 25) entered into a share purchase agreement with…
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