Posts by Mark Darwin
GSK plunges as drugmaker must face Zantac cases in Delaware
Citi estimates Zantac settlement costs at US$3 billion GSK shares plunged in the wake of a court ruling that the UK drugmaker, alongside others including Sanofi, must face trials over whether the former heartburn treatment Zantac causes cancer. The ruling is a blow to GSK, paving the way for multiple trials in Delaware state…
Read MoreSouth Korea’s Yoon approves exploration of vast oil, gas prospects
South Korean President Yoon Suk Yeol gave the green light on Monday (Jun 3) to conduct exploratory drilling for potentially vast oil and gas prospects found off the east coast of the nation that is one of the world’s largest energy importers. There is a “very high” possibility the area contains as much as 14…
Read MoreBarrenjoey opens Abu Dhabi office as Australian bank expands
Barrenjoey, an Australian investment bank, began offering fixed-income sales and trading services in Abu Dhabi in an expansion that marks the opening of its first overseas office. The move will allow the Sydney-based firm to provide extended coverage during European and US trading hours, it said in a statement. It currently has about 10 people…
Read MoreChinese courier giant SF Holding gets regulatory nod for Hong Kong listing
China’s SF Holding, the country’s largest express delivery company, said it has received regulatory approval for a second listing in Hong Kong, which it expects to complete in the next year. It is the latest company to receive the go-ahead for a listing outside the mainland from the China Security Regulatory Commission (CSRC) after the…
Read MoreToyota halts sales of three cars as Japan safety scandal deepens
Japan suspended the delivery and sales of six vehicles currently on the road, including three manufactured by Toyota Motor, escalating a safety scandal that’s embroiled some of the world’s top automakers. Toyota submitted faulty data during pedestrian-safety tests for three current models – the Corolla Fielder, Corolla Axio and Yaris Cross – and used modified…
Read MoreFreeport Indonesia says yet to receive copper concentrate export permit extension
COPPER miner Freeport Indonesia has not yet received a copper concentrate export permit extension from Indonesia’s government, the company’s spokesperson said on Monday (Jun 3). Freeport’s previous permit was valid until May 31. The government has agreed to extend the export permit until Dec 31 with an additional export levy, but the regulation has not…
Read MoreKKR weighs entering private credit in Japan to challenge banks
KKR is considering entering the private credit market in Japan to provide an alternative to bank loans. “It will be a medium to long-term initiative,” Hiro Hirano, the head of KKR Japan said. “I think it is very important in Japan that we do it ourselves.” The US$1.7 trillion private credit industry has swelled…
Read MoreStocks to watch: Nio, Sembcorp, Paragon Reit, Oiltek
THE following companies saw new developments that may affect trading of their securities on Monday (Jun 3):
Read MoreQatar Airways closes in on major Boeing, Airbus widebody order
QATAR Airways is nearing a decision on a major widebody order split between Boeing and Airbus, according to sources familiar with the matter. The Middle East carrier is looking at ordering about 200 jets, with a decision possible as soon as the Farnborough Air Show in the United Kingdom late next month, said the sources,…
Read MoreTrend Micro taps Nvidia software tools for AI cybersecurity offering
TREND Micro said on Sunday (Jun 2) that it is working with Nvidia to create new cybersecurity tools that use artificial intelligence (AI) and are designed to protect the data centres where AI work happens. The tools, which Trend Micro planned to show at the Computex conference in Taiwan beginning on Sunday, will be capable…
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