Posts by Mark Darwin
Tesla’s China-made EV sales grows 3% year on year in August
This comes even as the country’s sales force is downsizing as part of the US company’s global layoffs SALES of US automaker Tesla’s China-made electric vehicles (EV) grew 3 per cent in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday (Sep 2). Deliveries of its China-made Model…
Read MoreHSBC new CEO Elhedery ‘committed’ to build on current strategy
HSBC’s new chief executive Georges Elhedery, who took the helm at the Europe’s largest lender on Monday (Sep 2), said he was committed to build on the bank’s current strategy, according to an internal staff memo. Elhedery, who joined HSBC in 2005, takes over the reins at the bank from Noel Quinn as the bank…
Read MoreIron ore tumbles back below US$100 as China property woes deepen
THE price of iron ore fell back below US$100 a tonne to snuff out a rebound, as pessimisim over China’s economic prospects weighed on industrial commodities. The steelmaking material rose almost 10 per cent during the past two weeks on tentative signs that the worst of China’s summer steel rout might be over. However, soft…
Read MoreGoh family garners 85.9% of Ossia International shares at offer close
THE Goh family’s shareholding in Ossia International has risen to 85.9 per cent as at the close of its privatisation offer on Aug 30, the lifestyle products retailer and distributor said on Monday (Sep 2). In a bourse filing, the group said it had received valid offer acceptances for over 23.5 million shares, representing around…
Read MoreSTI rises 0.6% on first trade day of September; regional markets close mixed
SINGAPORE equities kicked off the first trading day of September in the black, even as regional exchanges turned in a mixed performance. The benchmark Straits Times Index (STI) rose 0.6 per cent or 20.15 points to 3,463.08 on Monday (Sep 2). Across the broader market, gainers outnumbered losers 291 to 258, as 1.1 billion shares…
Read MoreHuawei sets up Apple showdown with event hours after new iPhone
HUAWEI Technologies is preparing to launch new products at an event mere hours after Apple’s debut for the iPhone 16, setting the stage for the two tech giants’ next clash. Consumer group chief Richard Yu announced the Sep 10 reveal on Weibo, teasing “an epoch-making product” that took five years of work and investment. Huawei…
Read MoreChinese heiress takes over beverage empire after power struggle
CHINESE beverage heiress Kelly Zong Fuli has been appointed as chairman of Hangzhou Wahaha Group, the beverage giant founded by her father, according to business registration information. Zong was listed as chairman, general manager and legal representative for Hangzhou-based Wahaha in the latest update of its business registration profile, according to corporate information platform Tianyancha. …
Read MoreChina warns Japan of retaliation for possible new chip curbs
CHINA has threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, complicating US-led efforts to cut the world’s second-largest economy off from advanced technology. Senior Chinese officials have repeatedly outlined that position in recent meetings with their Japanese counterparts, according to sources familiar with the…
Read MoreNippon Steel calls for Japanese tariffs on China’s exports
THE Japanese steel giant that helped China modernise its mills is worried that a glut of the metal in its neighbour could hurt its domestic market. Nippon Steel, the world’s fourth largest steelmaker, wants the Japanese government to impose an anti-dumping tariff on Chinese steel, according to executive vice-president Takahiro Mori. The company is lobbying…
Read MoreCiti boosts Australia and New Zealand Markets business with key appointments
CITIGROUP announced seven new appointments for its Australia and New Zealand business on Monday (Sep 2) across verticals, as the financial services major aims to strengthen these markets. The appointments are across markets sales, asset-backed securitisation & financing, G10 rates trading, corporate access, forex and equities electronic execution teams, it said. Citi Markets business supports…
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