Posts by Stephanie Irvin
US opens probe into 1.4 million Honda vehicles over engine issues
THE National Highway Traffic Safety Administration (NHTSA) said on Monday (Nov 11) that it is opening a probe into 1.4 million Honda vehicles after reports of serious engine issues. Honda in November 2023, recalled 249,000 vehicles in the United States with a 3.5 litre V6 engine after the Japanese automaker said a manufacturing defect in…
Read MoreMicroStrategy’s US$2 billion Bitcoin buy is largest since 2020
MICROSTRATEGY bought about 27,200 Bitcoin for around US$2.03 billion, the largest purchase by the crypto hedge-fund proxy since just after it began acquiring the digital asset more than four years ago. The enterprise software maker, whose corporate strategy now includes buying the cryptocurrency, bought the tokens between Oct 31 and Nov 10, according to a…
Read MoreAmazon developing driver eyeglasses to shave seconds off deliveries: sources
AMAZON is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings, as it tries to smooth the final stretch of an order’s journey to a customer’s home, five people familiar with the matter said. If successful, the glasses would provide drivers with turn-by-turn navigation on a small embedded screen,…
Read MoreSingapore stocks rise despite tepid regional sentiment; STI up 0.4%
Across the broader market, losers beat gainers 354 to 229 with 1.9 billion securities worth S$1.5 billion changing hands SINGAPORE stocks were in the black on Monday (Nov 11) as investor sentiment in the region weakened. The benchmark Straits Times Index (STI) rose 0.4 per cent or 15.1 points to 3,739.47. Across the broader market,…
Read MoreUK’s Direct Line to cut 550 jobs amid motor insurance woes
DIRECT Line Insurance Group plans to cut 550 roles or about 5 per cent of its global workforce, the British insurer said on Monday (Nov 11), as its underperforming motor insurance arm continued to weigh on the business. Direct Line has been trying to reinvigorate its business under a turnaround strategy launched by CEO Adam…
Read MoreVietnam says Temu, Shein must register with government or be blocked
VIETNAM said Chinese online retailers Shein and Temu need to register with the government before the end of November or it will block their Internet domains and apps from being used in the country. Vietnam’s government and local businesses have expressed concern about the impact of Chinese online platforms on local markets due to deep…
Read MoreADB increases climate finance after US, Japan give world’s first sovereign guarantees
THE Asian Development Bank (ADB) will increase its climate-related lending by up to US$7.2 billion after the United States and Japan agreed to underwrite risk for some existing loans, an ADB executive said, marking the first-ever sovereign guarantees for climate finance. The new strategy, shared exclusively with Reuters, offers a potential template for other development…
Read MoreSIA expects passenger yields to further moderate
Current yields remain higher than pre-pandemic levels due to preparations for a post-Covid recovery SINGAPORE Airlines (SIA) expects passenger yields to continue to moderate amid rising industry capacity, even as dipping yields across all its markets and customer segments have hit the group’s bottom line. At the financial results briefing for the second quarter of…
Read MoreStocks to watch: Singapore Airlines, Sembcorp Industries, Seatrium, Venture Corp
THE following companies saw new developments that may affect trading of their securities on Monday (Nov 11): Singapore Airlines (SIA): The national carrier on Friday posted a 59 per cent fall in net profit to S$290 million for the second quarter ended Sep 30, compared to the corresponding period in the previous year. Revenue for…
Read MoreToyota aims to ramp up China production in a strategy pivot: sources
TOYOTA aims to make at least 2.5 million vehicles a year in China by 2030, three sources said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development, The plan, which has not been previously reported, represents a strategic pivot by…
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