Posts by Stephanie Irvin
Boeing may have installed bad 737 parts, whistleblower alleges
A Boeing quality inspector alleged that the planemaker mishandled and lost track of hundreds of faulty parts, some of which he said may have been installed on new 737 Max planes, the latest revelation by a whistleblower pointing out possible misconduct at the manufacturer. The claims were detailed in a June 11 complaint by Boeing…
Read MoreBOJ index shows more Japan firms passing on wage costs in services prices
The price Japanese companies charge each other for services with high labour costs rose 2.8 per cent in April from a year earlier, the fastest increase in nearly four years, central bank data showed on Tuesday (Jun 18). The data highlights how prospects of steady wage increases are prompting more companies to charge more for…
Read MoreSP Group to design district cooling, heating system for Chengdu development
SP Group announced on Tuesday (Jun 18) that it secured a bid to design, build, develop and operate a district cooling and heating system for the new International Sports Park City in Chengdu, China. The utilities group is expected to invest more than 200 million yuan (S$37.3 million) in the sustainable energy project under a…
Read MoreAustralia holds key rate at 12-year high on inflation worries
AUSTRALIA’S central bank kept interest rates at a 12-year high as it awaits a shift lower in stubbornly sticky inflation before being ready to signal policy easing. The Reserve Bank of Australia (RBA) held its cash rate at 4.35 per cent for a fifth straight meeting on Tuesday (Jun 18) and restated that it was…
Read MoreSingapore’s air freight up 20% in May; port’s box throughput highest this year
WITH the congestion at sea benefiting air transport, Singapore’s Changi Airport reported 170,000 tonnes in air freight handled in May, a 20 per cent year-on-year jump from 142,000 tonnes. Statistics published by Changi Airport Group on Monday (Jun 17) showed that the freight movement was the second-highest in the first five months this year. Only…
Read MoreMeteoric rise of South Korea’s webtoons powers Nasdaq IPO
WHEN Bae Jin Soo quit his well-paying job at one of South Korea’s biggest conglomerates to write stories, his parents were so upset they kicked him out of the house. But around seventeen years later, Bae is one of the biggest names in South Korea’s thriving billion-dollar webtoon industry, having taught himself to draw and…
Read MoreEV maker Fisker files for bankruptcy after its glitchy SUV flops
FISKER filed for bankruptcy on Monday (Jun 17), months after the electric-vehicle startup stopped production of its only model, the oft-malfunctioning Ocean SUV. The company listed between US$500 million and US$1 billion of assets, and between US$100 million and US$500 million of liabilities, in its petition filed in Delaware. The filing protects Fisker from creditors…
Read MoreJapan e-comics platform Infocom to decide on Blackstone takeover offer
JAPANESE digital comic distributor Infocom will announce its board’s decision on a takeover bid from Blackstone once all its disclosure documents are ready, the company said on Tuesday (Jun 18). Infocom was responding to a report in the Nikkei newspaper that Blackstone had reached a final agreement to acquire Infocom, priced at around 6,000 yen…
Read MoreBitcoin touches a one-month low in a broad crypto market sell-off
BITCOIN touched a one-month low as outflows from digital-asset investment products and the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market. The largest digital asset shed as much as 2.7 per cent on Tuesday (Jun 18), reaching a level last seen in mid-May, before paring the drop to trade at US$65,740 as at…
Read MoreBitcoin drops to a one-month low in broad crypto market sell-off
BITCOIN slid to a one-month low as outflows from digital-asset investment products and the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market. The largest digital asset at one point fell as much as 2.7 per cent on Tuesday (Jun 18) and was trading at about US$65,300 as at 10:26 am in Singapore. Smaller…
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