Posts by Yurie Miyazawa
Australian consumer regulator sues Singtel unit Optus over alleged sales misconduct
THE Australian Competition and Consumer Commission (ACCC) has filed court proceedings against subsidiary Optus mobile, said Singtel in a bourse announcement on Thursday (Oct 31). The court proceedings, filed in the Federal Court of Australia, alleged that Optus mobile acted unconscionably in its dealings with about 429 customers. Optus is reviewing the matters raised and…
Read MoreAI’s US$1.3 Trillion future increasingly hinges on Taiwan
When Jung Yoonseok was looking for an assembly partner for his artificial intelligence (AI) chip startup, he had his pick of almost any country in Asia, including his native South Korea. Instead, the Rebellions strategy chief opted for Taiwan because of what he sees as an unparalleled combination of talent, cost and speed. “Taiwan is…
Read MoreSiemens agrees to buy software group Altair in US$10 billion deal
Siemens reached an agreement to buy software maker Altair Engineering for US$10 billion including debt in its largest-ever acquisition. The German engineering group will pay Altair investors US$113 a share, according to a statement confirming an earlier report by Bloomberg News that the two companies were nearing a deal. The transaction, expected to close in…
Read MoreApple launches new, more powerful versions of MacBook Pro
APPLE on Wednesday (Oct 30) unveiled new MacBook Pro models that feature more powerful processors for tasks such as photo and video editing, aiming to bolster its appeal among creative professionals. The new line of MacBook Pro laptops will start at US$1,599 for the 14-inch variant, with the higher-end versions sporting more powerful M4 Pro…
Read MoreDHL cuts earnings outlook on weak B2B volumes
DHL cut its guidance for 2024 earnings before interest and taxes (Ebit) on Wednesday (Oct 30), citing continuously weak business-to-business mail volumes and lower-than-expected margins in its air freight forwarding business. The company now expects an Ebit of 5.8 billion euros (S$8.3 billion) for the year, down from a previously expected range of 6 billion…
Read MoreTencent-backed Airwallex seeks funding at US$6 billion value
FINTECH company Airwallex is in talks with investors to raise about US$200 million in a new funding round to finance its growth, according to people familiar with the matter. The Tencent Holdings-backed company is seeking to close the funding around year-end, the people said, asking not to be named discussing private information. The Singapore-based…
Read MoreSingapore stocks end lower despite Hongkong Land’s rally; STI declines 0.9%
SINGAPORE shares finished in negative territory on Wednesday (Oct 30), before the Deepavali public holiday. The benchmark Straits Times Index (STI) ended 0.9 per cent or 31.48 points down at 3,558.88. On the local bourse, decliners outnumbered advancers 344 to 217, as 1.4 billion securities worth S$1.7 billion changed hands. Hongkong Land had a strong…
Read MoreAston Martin posts smaller-than-expected quarterly loss
BRITISH luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday (Oct 30) and reaffirmed its annual forecast, saying supply disruptions that had caused factory delays were being “proactively managed”. Shares in the company rose as much as 6 per cent in early trade following the results, which come as European carmakers grapple with…
Read MoreMalaysian ringgit set for biggest monthly decline since 2015
MALAYSIA’S currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election. The ringgit is down more than 6 per cent against the US dollar in October, putting it on pace for its biggest monthly loss since August 2015. The…
Read MoreUBS posts bigger-than-expected net profit in third quarter
UBS Group on Wednesday (Oct 30) reported a forecast-beating quarterly net profit of US$1.4 billion helped by cost reductions and revenue growth as the bank carried out its first wave of client migrations from Credit Suisse since acquiring its old rival last year. The net profit attributable to shareholders for Switzerland’s largest bank in the…
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