Posts by Mark Darwin
Volkswagen plans stop to production at jointly-owned China plant
VOLKSWAGEN is planning to stop production at one of its combustion engine car plants in China, a person with direct knowledge of the matter said, in a sign of carmakers’ struggles to manage overcapacity in the world’s biggest car market. The carmaker, along with its joint venture partner SAIC Motor, will gradually shift production of…
Read MoreYouTube and Shopee partner in South-east Asia e-commerce tie-up
ALPHABET’S YouTube and e-commerce platform Shopee said on Wednesday (Sep 18) they were launching an online shopping service in Indonesia and planned to expand it in South-east Asia as competition picks up with a rival operator owned by TikTok. Under the YouTube Shopping tie-up, people will be able to purchase goods viewed on YouTube through…
Read MoreGoogle 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 More