Posts by Mark Darwin
Google urges tribunal to throw out US$9.3 billion UK lawsuit over search ‘dominance’
Google says the EC’s findings were simply “technical complaints about the particular form by which Google promoted its products” Google parent Alphabet on Wednesday (Sep 18) asked a London tribunal to throw out a mass lawsuit that accuses the tech giant of abusing its dominance in the online search market. The lawsuit – valued at…
Read MoreFlagging investor interest may make 2024 a fine vintage year for private markets
Even so, experts say a consistent allocation strategy works better than trying to time the market WEAKER sentiment has lowered asset valuations in some parts of the private markets, suggesting that now is a good time to invest. Experts caution, however, that because of the way private market funds call capital and invest it, a…
Read MoreHow 7-Eleven can get a big price from Circle K
EVERYONE agrees the takeover battle for the Japanese owner of 7-Eleven is a watershed moment that could prove the Tokyo market is now open to foreign acquirers. But for that to happen, the fate of Seven & i Holdings should be determined by the price of any bid, not the politics. And the convenience store…
Read MoreBoeing, striking union set to resume contract talks on Wednesday
CONTRACT talks between Boeing and its largest union will restart on Wednesday (Sep 18), with federal mediators present, the International Association of Machinists and Aerospace Workers said. This comes after they failed to agree on key issues such as wages and pensions. The union has been pushing for a 40 per cent raise over four…
Read MoreDisney’s India unit seeks US$940 million in damages from Zee Entertainment
The dispute centres around the company’s failure to meet payment deadlines, agreed as part of a US$1.4 billion licensing deal WALT Disney’s Indian unit has sought US$940 million in damages from Zee Entertainment, after the Mumbai-based broadcaster defaulted on payment for TV rights of cricket matches. Disney Star filed the claim for damages and termination…
Read MoreGoogle wins challenge against 1.49 billion euro EU antitrust fine
ALPHABET unit Google won its challenge on Wednesday (Sep 18) against a 1.49 billion euro (S$2.14 billion) antitrust fine imposed five years ago for hindering rivals in online search advertising, a week after it lost a much bigger case. The European Commission in its 2019 decision said Google had abused its dominance to prevent websites…
Read MoreIndian plans to keep buying cheap Russian oil, oil minister says
INDIA is prepared to keep buying oil from Russian companies that are allowed to make such sales, since prices are cheap, Oil Minister Hardeep Singh Puri said on Tuesday (Sep 18). Western sanctions on Russia over its war with Ukraine have capped the price Russia can charge for its crude oil, and India is prepared…
Read MoreBanks to introduce Singpass face verification for customers setting up digital tokens
MAJOR retail banks in Singapore will progressively introduce Singpass Face Verification (SFV) over the next three months as part of the process for retail banking customers setting up digital tokens. Through a face scan, customers’ identities will be verified against national records before their digital tokens can be activated for use. “This makes it more…
Read MoreAustralia’s Harvey Norman served with class action over warranties
AUSTRALIA’S biggest appliance retailer Harvey Norman and one of its units have been served with a class action lawsuit on behalf of consumers who were allegedly sold bad warranties, law firm Echo Law said on Wednesday (Sep 18). The class action is based on allegations that extended warranties sold by Harvey Norman offered “little or…
Read MoreBrokers’ take: RHB raises ST Engineering’s target on upbeat earnings outlook
RHB raised its target price on Singapore Technologies Engineering (ST Engineering) to S$5.32 from S$5 after rolling forward its valuation base year to fiscal year 2025. It has a “buy” recommendation on the counter. The rating comes as the counter’s share price has outperformed the Straits Times Index and is likely to continue, said analyst…
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