Posts by Yurie Miyazawa
HSBC starts search for next chairman: report
HSBC’s board has appointed headhunters to start the recruitment of its next chairman, Sky News reported on Saturday (Nov 30), with incumbent Mark Tucker due to stand down by 2026. The London-listed, Asia-focused bank has assigned headhunters including MWM Consulting to run the process, and will consider both existing non-executive directors and outsiders to succeed…
Read MoreEV maker Lion Electric wins temporary creditor relief, halts US factory
ELECTRIC bus manufacturer Lion Electric is temporarily laying off about 400 workers and halting operations at its Illinois factory to save cash after receiving a short-term lifeline from its lenders. The Saint-Jerome, Quebec-based company made the announcement after a Saturday (Nov 30) deadline to meet its obligations to key creditors passed. The extensions until Dec…
Read MoreMeta tightens ad rules to curb financial scams aimed at Australians
INSTAGRAM and Facebook-owner Meta Platforms said on Monday (Dec 2) it had introduced stricter rules for advertisers of financial products and services targeting Australians, in a bid to crack down on scams on the social media platforms. The move comes after Meta in October said it took down 8,000 so-called “celeb bait” ads, as part…
Read MoreFedEx throws weight behind freight to fire up Apac growth engine
Its three major hubs in Incheon, Tokyo and Singapore are full-sized warehouses capable of life science logistics to serve the biomedical and pharmaceutical industries THE idea that American transportation and logistics giant FedEx wants to boost its earnings from freight forwarding appears puzzling at first. After all, its chief business is that of handling freighting.…
Read MoreVirtual power plants turn energy savings into cash for China’s industrial users
IMAGINE being paid hundreds of dollars a day just to tweak your energy consumption – using less electricity at night and more during the day. For a casting and smelting company in Shanxi province, this idea became reality. By joining a virtual power plant (VPP) network, the company raked in a cumulative 1.4 million yuan (S$258,896)…
Read MoreBritain’s jobs statistics crisis gives banks a growing headache
Britain’s banks may be putting extra money aside to cover bad loans due to confusion around the country’s faulty labour market data. Lenders use the unemployment rate alongside other metrics, including GDP, property prices, inflation and interest rates, to try to project how many people will default on their loans. However, the UK’s Office for…
Read MoreNio delivers 20,575 vehicles in November; marks 10th anniversary
15,493 vehicles are from Chinese EV maker’s flagship premium EV line, while 5,082 are from its family-oriented Onvo brand Chinese electric vehicle (EV) maker Nio delivered 20,575 vehicles in November, a 28.9 per cent increase from the same month last year. The latest figure was slightly lower than the 20,976 vehicles delivered in October. Of…
Read MoreEuropean-focused S-Reits broaden their mandate, confident that continent has moved beyond the market trough
MARKET conditions in the European property sector are showing signs of improvement, which is expected to positively impact Singapore-listed real estate investment trusts (S-Reits) with exposure to this segment. Global investment firm KKR noted that recovery for the European real estate market has started, after the market experienced one of the largest repricings over the…
Read MoreDBS buys back nearly S$15m of its shares; AGT Partners becomes Oiltek’s substantial shareholder
OVER the five trading sessions from Nov 22 to 28, institutions were net buyers of Singapore stocks, resulting in a net institutional inflow of S$188 million, reversing the net outflow of S$38 million observed over the five preceding sessions up to Nov 21. Stocks that led the net institutional inflow over the five sessions to…
Read MoreNg Yu Zhi trial: Defence accuses investor of caring only about revenue
NG YU ZHI’S lawyer on Nov 29 accused investor Veronica Shim Wai Han of caring only about generating income from his client’s nickel investment scheme, and not about whether the underlying transactions were genuine. Shim, a private banker for 20 years and former chief executive of a fund management company, emphatically disagreed. She was being…
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