Posts by Yurie Miyazawa
US proposes US$7.5 billion loan to Stellantis, Samsung SDI battery joint venture
THE US Energy Department said on Monday (Dec 2) it is planning to loan up to US$7.5 billion to a joint venture of Chrysler parent Stellantis and Samsung SDI to help build two electric vehicle (EV) lithium-ion battery plants in Indiana. The conditional commitment award must still be finalised and includes US$6.9 billion in principal…
Read MoreApple accused of silencing workers, spying on personal devices
APPLE has been accused in a new lawsuit of illegally monitoring its workers’ personal devices and iCloud accounts while also barring them from discussing their pay and working conditions. The complaint filed in California state court on Sunday (Dec 1) by Amar Bhakta, who works in digital advertising for Apple, claims the company requires employees…
Read MoreChina’s central bank chief signals support for economy in 2025
CHINA’S central bank governor reaffirmed plans for a supportive monetary policy to promote growth next year, as the economy faces fresh challenges from a looming trade war with the US during Donald Trump’s second term. The People’s Bank of China (PBOC) will “adhere to an accommodative monetary policy stance and orientation” in 2025, Governor Pan…
Read MoreSociete Generale on sales hiring push in Tokyo amid bond market revival
SOCIETE Generale has hired four senior salesmen in Japan as it seeks to capitalise on the country’s invigorated bond market along with local banks’ appetite for higher-yielding investments. Former NatWest Group manager Isao Sam Namba is among the additions to the French lender’s Tokyo securities unit, said Tomoyuki Sasai, head of global markets sales, confirming…
Read MoreBank of Japan weighs case for first triple hike since Japan’s bubble burst
BANK of Japan (BOJ) governor Kazuo Ueda has plenty of data to support the case for raising the benchmark rate in December, an outcome that would mark the first tightening of policy three times in a calendar year since the peak of Japan’s asset bubble in 1989. The governor appears determined to weigh his options…
Read MoreStocks to watch: Yangzijiang Shipbuilding, CapitaLand Investment, Dasin Retail Trust, Sembcorp Industries
THE following companies saw new developments that may affect trading of their securities on Tuesday (Dec 3): Yangzijiang Shipbuilding: The maritime vessel maker announced on Monday that it had secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion in the year to date. This follows the company’s quarterly business update on Nov…
Read MoreBig Pharma’s bet on China biotech is a rare trade bright spot
AT A time when geopolitical tensions are hitting industries from semiconductors to electric vehicles, pharmaceutical dealmaking has become a rare bright spot for collaboration between China and the West. Industry watchers are holding their breath to see how the incoming Trump administration changes that. So far this year, seven major pharma companies have licensed or…
Read MoreMicrochip says it will shut Arizona plant, updates outlook
MICROCHIP Technology, a maker of chips for cars, consumer devices and other products, said it would close a plant in Tempe, Arizona, affecting about 500 employees. The company also said that orders have been slower than anticipated and it was revising the December quarter’s outlook to near the low end of its original forecast of…
Read MoreCastle Water to offer £4 billion equity to rescue Thames Water
Castle Water will offer to inject £4 billion (S$6.82 billion) into Thames Water this week to help save the beleaguered utility from administration, according to a person familiar with the matter. Thames, the UK’s biggest water and sewage company, has asked potential investors to submit indicative, non-binding bids by Dec 5. Castle Water, which bought…
Read MoreCapitaLand Malaysia Trust to acquire Selangor logistics property for RM180 million
CAPITALAND Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment, has entered into a sale-and-purchase agreement to acquire a freehold automated logistics property in Selangor, Malaysia, for RM180 million (S$54.2 million), announced the trust’s manager on Monday (Dec 2). The property, Elmina Logistics Hub, is a 40-metre high single-storey automated warehouse with a total built-up area…
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