Posts by Mark Darwin
Nidec founder and chairman Nagamori quits board after spate of accounting issues
The 81-year-old has voluntarily resigned his post, the world’s largest maker of mini-motors says [TOKYO] Nidec said its founder Shigenobu Nagamori will step down from his position as chairman of the board, following the discovery of a series of accounting issues dating back years. The 81-year-old has voluntarily resigned his post, the world’s largest maker…
Read MoreOpenAI inks deals with US colleges, seizing early lead in education market
The company has sold more than 700,000 ChatGPT licences to about 35 public universities [NEW YORK] OpenAI has established a beachhead at many US colleges, overcoming university administrators’ wariness of artificial intelligence and giving ChatGPT a headstart on becoming the go-to assistant for the next generation of workers. The company has sold more than 700,000…
Read MoreBank of Japan hikes interest rates to 30-year-high of 0.75%
THE Bank of Japan on Friday hiked interest rates to 0.75 per cent, marking the first increase since January and its highest level in 30 years. The bank decided by a unanimous vote to raise its main rate from 0.5 per cent, it said in a statement. AFP Decoding Asia newsletter: your guide to navigating…
Read MoreBaht soars to 3-year high against Singdollar as it climbs on gold spike, yuan strength
Thai currency’s rise is fuelled by a soft US dollar, recent Fed easing and sharp acceleration in gold prices [SINGAPORE] The baht’s rally has pushed it to hit records and outshine regional peers as Asia’s second-best performing currency for 2025, sparking fears of the impact on the country’s export-driven economy, as well as highlighting tourism…
Read MoreStoneweg Europe Stapled Trust divests office asset in Italy for 34 million euros
Following the divestment, the trust’s exposure to Italy will fall from 18% to 17% [SINGAPORE] The managers of Stoneweg Europe Stapled Trust (Sert) on Friday (Dec 19) said that it has entered an agreement to sell a non-core office property in Italy – Amba Aradam Rome (Maxima) – for a consideration of 34 million euros…
Read MoreNike’s China conundrum deepens as turnaround stagnates
Nike’s stock is down 13% so far this year, on track for a fourth straight year of declines [NEW YORK] Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 per cent drop in footwear – underscores…
Read MoreWall Street opens higher as inflation eases; forecast boosts Micron
[NEW YORK] Wall Street’s main indexes opened higher on Thursday (Dec 18) after softer-than-expected inflation data boosted expectations for more interest rate cuts by the Federal Reserve, while chipmaker Micron’s blowout forecast briefly eased worries about tech-sector valuation. The Dow Jones Industrial Average rose 215.2 points, or 0.45 per cent, at the open to 48,101.18.…
Read MoreBank of England lowers rates after tight vote but signals caution about further cuts
Five MPC members vote to lower the benchmark rate for the fourth time in 2025 to 3.75% [LONDON] The Bank of England (BOE) cut interest rates on Thursday (Dec 18) after a narrow vote by policymakers but it signalled that the already gradual pace of lowering borrowing costs might slow further. After a sharp drop…
Read MoreChina solar industry’s losses narrowing on overcapacity push, association says
[BEIJING] Losses in China’s slumping solar sector narrowed in the third quarter, data presented by an industry group official revealed, as the government’s war on industrial overcapacity targeted manufacturers. The solar industry’s capacity reached levels capable of satisfying global demand roughly twice over, figures from earlier this year showed, making it a focus of Beijing’s…
Read MoreIndia insurance move opens pension firms to 100% foreign holding
The move comes amid a surge in foreign investment in Indian banks and deeper reliance on Indian tech hubs [NEW DELHI] India’s move to lift investment caps on the insurance industry also applies to the US$177 billion pension fund sector, paving the way for 100 per cent foreign ownership, according to the industry regulator. The…
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