Posts by Yurie Miyazawa
Merck snags Chinese cancer drug for up to US$3.3 billion
MERCK & Co licenced an experimental cancer antibody from a closely held Chinese company in a deal worth US$588 million upfront, plus as much as US$2.7 billion in milestone payments. The deal with LaNova Medicines bolsters Merck’s push into the promising new field of dual-targeted antibodies. Under the agreement, it will gain exclusive global rights…
Read MoreEU fines Meta 797 million euros over abusive practices benefiting Facebook Marketplace
THE European Commission on Thursday (Nov 14) fined Meta Platforms 797.72 million euros (S$1.1 billion) over abusive practices benefiting Facebook Marketplace, it said in a statement, confirming an earlier report by Reuters. “The European Commission has fined Meta … for breaching EU antitrust rules by tying its online classified ads service Facebook Marketplace to its…
Read More‘Deadpool & Wolverine’ helps Disney beat earnings forecasts
WALT Disney reported earnings that topped Wall Street’s estimates on Thursday (Nov 14), propelled by blockbuster ticket sales from the rude and irreverent summer Marvel film Deadpool & Wolverine, and provided an upbeat forecast for the coming year. Shares of the company rose 2.3 per cent in premarket trading. The company projected adjusted earnings-per-share percentage…
Read MorePrime US Reit Q3 distributable income falls to US$8.5 million
PRIME US Reit’s distributable income for the third quarter ended Sep 30, fell to US$8.5 million from US$14.7 million the year before, said its manager on Thursday (Nov 14) in a business update. This was due to lower contribution from its properties Waterfront At Washingtonian, which saw lower occupancy as it underwent an asset enhancement…
Read MoreIndia’s top clean energy agency weighs criminal proceedings against Reliance Power
This comes as the company looks to expand into the domestic and overseas renewable energy sector INDIA’S top renewable energy agency has sent a notice to Reliance Power, a company run by Anil Ambani. According to a notice dated Wednesday (Nov 13), the agency asked why it should not initiate criminal proceedings after a subsidiary…
Read MoreChina’s JD.com struggles to shake off consumption weakness, misses revenue estimates
CHINESE e-commerce group JD.com missed market estimates for quarterly revenue on Thursday (Nov 14), as a persistent slowdown in the world’s second-largest economy pressured consumers to keep a tight hold on their purse strings. JD.com’s US shares fell 1.2 per cent in pre-market trading. A prolonged property sector crisis, a macroeconomic slowdown and heightened job…
Read MoreChina’s JD.com misses quarterly revenue estimates amid weak consumer spending
CHINESE e-commerce group JD.com missed market estimates for quarterly revenue on Thursday (Nov 14), as persistent economic woes pressured consumers to cut back on spending. A prolonged property sector crisis, a macroeconomic slowdown and heightened job insecurity have hammered consumer confidence in the world’s second-largest economy, hurting retail sales. While the Chinese government has outlined…
Read MoreLoss-making Burberry puts focus back on outerwear in turnaround plan
BURBERRY will put the focus back on its core trench coats and scarves, be less ambitious with prices for bags and shoes, and use its British heritage appeal to win back customers, the struggling luxury brand said on Thursday (Nov 14) in a strategy update. The company reported a loss for the first half of…
Read MoreTuan Sing to redevelop Melbourne properties with Grand Hyatt hotel asset
TUAN Sing has submitted a town planning application for a major mixed-use development of its properties at 121 to 131 Collins Street, and 23 to 25 George Parade, in Melbourne, Australia. This was done through Tuan Sing’s wholly owned subsidiary Grand Hotel Group (GHG), which instructed Hong Kong-based architect Urbis to submit the plan, announced…
Read More‘Good results’ from ongoing push to strengthen Singapore’s accounting sector: Indranee
EFFORTS to implement recommendations from a report aimed at boosting Singapore’s accountancy sector are yielding good results, Minister in the Prime Minister’s Office Indranee Rajah said on Thursday (Nov 14). To maintain this momentum and advance further recommendations, Singapore’s national accounting body and regulator have jointly established a new committee. Indranee, who is also Second…
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