Posts by Stephanie Irvin
Shein, Temu, Amazon Haul set for price hikes as US shuts trade loophole
SHEIN, Temu and Amazon Haul prices are likely to rise for American shoppers, analysts and industry experts said, after US President Donald Trump this week shut a trade loophole that has been used to ship low-value packages duty-free from China. Fast-fashion retailer Shein and online dollar-store Temu, both of which sell products ranging from toys…
Read MoreFTI Consulting now in acting management of scandal-hit Indonesian unicorn eFishery
The move ‘aims to facilitate a thorough and objective business review to determine the best path forward for the group’, says eFishery’s board INDONESIAN aquaculture startup eFishery on Tuesday (Feb 4) announced that it has involved business consulting and management advisory FTI Consulting in the acting management of the company, with immediate effect. This comes…
Read MoreSpotify forecasts profit above estimates on subscriber growth, price increases
In the fourth quarter, premium subscribers rose 11 per cent to 263 million, compared with Visible Alpha estimates of 260 million. SPOTIFY forecast first-quarter profit above market estimates on Tuesday (Feb 4) as the Swedish audio-streaming giant benefits from steady user growth, price hikes and a cost-cutting drive. Spotify expects operating income of 548 million…
Read MoreEstee Lauder forecasts bleak quarterly profit, to cut up to 7,000 jobs
ESTEE Lauder on Tuesday (Feb 4) forecast third-quarter profit well below estimates, citing persistent weak demand at airports and travel destinations such as Korea and China, while also expanding its restructuring plan to include up to 7,000 job cuts. Estee Lauder expects to take restructuring and other charges of between US$1.2 billion and US$1.6 billion. …
Read MoreNumber of compulsory wind-ups rise more than 50% in 2024
AS MANY as 307 companies were forced to wind up last year, based on figures released by the Ministry of Law’s Insolvency Office. This was a 52.7 per cent jump from the number of compulsory wind-ups in 2023, when 201 companies were forced to shut for good. The Insolvency Office also received 399 applications from…
Read MoreHK-listed Chinese stocks hit 3-month high despite China, US tariffs
CHINESE stocks listed in Hong Kong surged on Tuesday (Feb 4) as investors loaded up on artificial intelligence and electric vehicle shares while shrugging off news of tit-for-tat Sino-US tariffs on each other’s goods. China’s finance ministry announced a package of tariffs on a range of US products in an immediate response to President Donald…
Read MoreInfineon more positive on revenue outlook after Q1 stronger than expected
It expects revenue for the fiscal year until end-September 2025 to be flat to slightly up compared with the prior year German chipmaker Infineon slightly revised up its full-year revenue outlook on Tuesday (Feb 4) due to expected currency effects after a fall in fiscal first-quarter revenue was not as bad as expected. Infineon said…
Read MoreGrab, GoTo accelerate merger talks and aim for deal in 2025
GRAB Holdings and GoTo Group have accelerated merger talks and target a deal this year, seeking to end years of losses in South-east Asia’s competitive Internet market. Discussions have intensified in recent weeks and the companies see 2025 as an opportune year for a deal, according to sources familiar with the situation. The unprofitable firms…
Read MoreIndonesian fund, Mitsui vie for US$300 million stake in toll operator RKE: sources
INDONESIA’S sovereign wealth fund, Indonesia Investment Authority (INA), and Japan’s Mitsui are among prospective buyers of CVC Capital Partners’ 25 per cent stake in Indonesian toll road operator RKE International, valued at up to US$300 million, two sources with knowledge of the matter said. CVC, a Luxembourg-based investment firm, initiated the sale process for its…
Read MoreDutch lender ING looking for acquisitions to grow in Germany, Italy and Spain, says CEO
DUTCH lender ING Group is looking for opportunities to buy rival banks in major European countries to boost its size, its chief executive said, potentially joining a wave of takeovers sweeping the region’s financial sector. The remarks from the head of one of Europe’s biggest banks are a clear signal that it is open to…
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