Posts by Yurie Miyazawa
Oil prices sink to 2021 lows as tariff war fans recession fears
[SINGAPORE] Crude oil prices have plunged to their lowest levels since 2021, when Covid curbs hurt business activity, amid an escalating tariff crisis that is fuelling trade war recession fears and sparking a broad sell-off in commodities tied to global growth. For oil prices, long buoyed by geopolitical tensions and production cuts, the sudden reversal…
Read MoreIBM launches new mainframe in bet that some data stays local
The intense computational requirements of generative AI have increased demand for many kinds of tech hardware [NEW YORK] International Business Machines (IBM) unveiled its latest mainframe system, saying that a chunk of business data will remain on customer-owned servers and never be hosted on the cloud. The new generation of IBM’s mainframes, dubbed z17, will…
Read MoreFinian Tan on US$33.3 million duped in alleged nickel scam
[SINGAPORE] Well-known venture capitalist Finian Tan told the High Court on Tuesday (Apr 8) that he was red-faced by the loss to alleged fraudster Ng Yu Zhi. “I am embarrassed by this loss. If you ever lose in this way, it’s not something you would be proud of or want to repeat,” said Dr Tan…
Read MoreAsia: Markets stage mild rebound but Trump tariff uncertainty reigns
[HONG KONG] Asian markets battled on Tuesday to recover from the previous day’s tariff-fuelled collapse, though Donald Trump’s warning of more measures against China and Beijing’s vow to fight “to the end” raised concerns the trade war could worsen. Equities across the world have been hammered since the US president unveiled sweeping levies against friend…
Read MoreSouth Korea eyes boosting energy imports to cut surplus with US
[SEOUL] A top South Korean trade official said the government is reviewing multiple packages to present to the Trump administration as it seeks to reduce a trade surplus with the US in a bid to negotiate a lower tariff rate. Embarking on a two-day trip to Washington, Trade Minister Cheong Inkyo said on Tuesday (Apr…
Read MoreIndia says ‘no’ to BYD while wooing rival Tesla to invest
With a 100 per cent duty on fully built vehicles – by far the highest among major economies – the country has long shielded domestic players with steep tariffs [DELHI] India will restrict market access to BYD even as it courts investments from US rival Tesla, showing New Delhi’s lingering angst with China despite recent…
Read MoreEmployee Scheduling Laws You’re Probably Breaking
If you’re managing a team and handling employee schedules, you might be unknowingly stepping into a legal minefield. Predictive scheduling laws are becoming more common, and many employers are not fully aware of the requirements. These laws aim to provide workers with more predictable hours and ensure they have a fair chance to manage their…
Read MoreSingapore’s STI edges down 0.4% after Monday’s dramatic selloff
[SINGAPORE] Singapore stocks continued their decline on Tuesday (Apr 8) morning, but the worst of the fallout from Trump’s tariffs appears to be over after yesterday’s beating. Shortly after the market opened, the Straits Times Index (STI) was down 0.4 per cent or 12.3 points at 3528.2. Across the broader market, losers outnumbered gainers 189…
Read MoreSamsung sees Q1 profit beating estimates as looming tariffs spur chip sales
[SEOUL] Samsung Electronics on Tuesday estimated a 0.2 per cent drop in first-quarter operating profit from a year earlier, beating analysts’ estimates by far on solid smartphone sales and better-than-expected sales of memory chips. Sales of conventional memory chips used in consumer electronic devices such as smartphones as well its AI chips likely came in…
Read MoreLevi maintains 2025 outlook in face of tariff turbulence
[NEW YORK] Levi Strauss maintained a full-year outlook that excludes the impact from sweeping new US tariffs that are poised to significantly raise costs for multinational apparel companies. The San Francisco-based company said its guidance for fiscal 2025 “assumes no significant worsening” of macroeconomic pressure on consumers, supply-chain disruptions, increased tariffs or similar factors. Levi…
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