Posts by Yurie Miyazawa
Emerging trends in accounting with AI and ESG
The accounting profession is undergoing significant transformation driven by the rise of artificial intelligence (AI) and growing emphasis on environmental, social and governance (ESG) factors. AI is streamlining processes from automating routine tasks such as data entry to enhancing predictive analytics and decision-making capabilities. With these, accountants are freed up to focus more on strategic…
Read MoreEuropean banks’ commercial real estate exposures ‘visibly deteriorating,’ ECB finds
BANKS in the euro region have about 1.3 trillion euros (US$1.4 billion) in outstanding loans to commercial real estate investors and credit quality is “visibly deteriorating,” European Central Bank researchers found in a study of the links between CRE and the financial system. “Exposures are not evenly spread across banks, and a tail of smaller,…
Read MoreYum Brands reports surprise fall in global sales amid KFC’s struggles in US
YUM Brands reported a surprise fall in worldwide same-store sales on Tuesday (Nov 5) as its KFC chain grapples with sluggish demand in the US, as well as choppy international sales. KFC’s same-store sales in the US tumbled 7 per cent, marking their third straight quarter of declines this year. The drop came even as…
Read MoreTax fraud investigators search Netflix offices in Paris and Amsterdam: source
INVESTIGATORS searched the offices of US streaming giant Netflix in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said on Tuesday (Nov 5). French paper Marianne, which first reported the searches, said investigators specialising in financial crime and corruption raided the company’s offices in central…
Read MoreWalmart, other US retailers import fewer Christmas goods ahead of tepid holiday season
SANTA Claus is not delivering as many Christmas trees, toys and decorations to the US this year as in recent years, import data shows, with retailers including Walmart bringing in less holiday product ahead of what is expected to be a so-so holiday season. Walmart, the world’s biggest retailer, has slashed Christmas imports deeply,…
Read MoreTesla increases wages for staff at German gigafactory by 4%
TESLA has raised the wages of all employees at its German gigafactory outside Berlin by 4 per cent since the start of November, the US electric carmaker said on Tuesday (Nov 5). The hike comes a month after Tesla said it would give permanent jobs from Nov 1 to 500 temporary workers there. German union…
Read MoreIPhone maker Hon Hai’s October sales growth slows on weak demand
It has raised concerns about demand momentum for both AI infrastructure and iPhones Apple’s major manufacturing partner Hon Hai Precision Industry reported its slowest monthly sales growth since February, stoking concerns about demand momentum for both AI infrastructure and iPhones. Hon Hai, also a key server assembly partner to Nvidia, on Tuesday (Nov 5) reported…
Read MoreChinese group accused of hacking Singtel in telecom attacks
SINGTEL, Singapore’s largest mobile carrier, was breached by Chinese state-sponsored hackers this summer as part of a broader campaign against telecommunications companies and other critical infrastructure operators around the world, according to two sources familiar with the matter. The previously undisclosed breach was discovered in June, and investigators believe it was pulled off by a…
Read MoreRecord foreign exodus casts a pall over India’s stock market
FOREIGN investors are souring on India’s stock market, selling a record amount of shares amid signs the South Asian nation’s post-pandemic economic boom is losing steam. Global funds pulled out more than US$10 billion on a net basis in October, helping drive the benchmark stock index towards a so-called technical correction. Sustained foreign investor outflows…
Read MoreStamford Tyres chairman Sam Chong Keen steps down amid board reshuffle
Wife of founder becomes executive chairman, ex-SPH veteran Christopher Tan joins board SAM Chong Keen, chairman of the board of Stamford Tyres has stepped down, with two individuals appointed to new positions on the company’s board of directors. The mainboard-listed tyre and wheel distributor announced the changes on Nov 1. Sam will continue as non-executive,…
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