Posts by Yurie Miyazawa
Bain sought US$10 billion valuation for Japan’s Kioxia, investors only wanted to pay half
Investors pushed Bain Capital to almost halve the valuation it was seeking for Japan’s Kioxia in an IPO, leading the US buyout firm to scrap its plans for an October listing of the memory chipmaker, two sources said. Kioxia, known as Toshiba Memory when it was acquired from Toshiba by a Bain-led consortium in 2018…
Read MoreJapan to suspend Nomura from bond group after manipulation
JAPAN’S Ministry of Finance plans to temporarily exclude Nomura Holdings from taking part in government debt auctions after the firm admitted to manipulating the bond futures market, according to sources familiar with the matter. The ministry plans to suspend Nomura from the primary group of Japanese government bond dealers for a month from Oct 15,…
Read MoreAsia: Markets mixed after Wall Street drop, Shanghai dips before briefing
MOST Asian markets were mixed on Friday (Oct 11) as investors digested disappointing US inflation data that further dampened expectations for another bumper interest rate cut next month. Chinese stocks dipped a day before a highly anticipated news conference at which it is hoped the country’s finance minister will outline fresh fiscal stimulus to add…
Read MoreByteDance cuts over 700 jobs in Malaysia in shift towards AI moderation: sources
CHINA’S ByteDance, the parent of social media platform TikTok, has laid off more than 700 workers from its Malaysian unit as the company shifts focus towards greater use of artificial intelligence (AI) in content moderation, two sources familiar with the matter said. The employees, most of whom were involved in the firm’s content moderation operations,…
Read MoreSouth Korea’s central bank cuts rates as slumping economy slows inflation
SOUTH Korea’s central bank cut policy interest rates for the first time in four and a half years, making a shift away from quashing inflation, currently below its 2 per cent target, to focus on reviving growth. The Bank of Korea (BOK) lowered its benchmark interest rate by a quarter percentage point to 3.25 per…
Read MoreTesla CEO Musk unveils two-door robotaxi, seen as key to long-term growth
TESLA CEO Elon Musk showcased a long-promised robotaxi with two gull-wing doors and without a steering wheel or pedals at a much-hyped event on Thursday (Oct 10), paving the path for what he has bet will drive long-term growth for the electric vehicle (EV) maker. Musk, who arrived at the stage in one of the…
Read MoreBoeing would be biggest-ever US ‘fallen angel’ if cut to junk
IF CUT to junk status, Boeing will be the biggest US corporate borrower to ever be stripped of its investment-grade ratings and join junk bond indexes, flooding the high-yield market with a record volume of new debt to absorb. On Tuesday (Oct 8), S&P Global Ratings said it’s considering downgrading the planemaker to junk as…
Read MoreBlackRock, GIC to invest in Hyundai Motor India IPO
BLACKROCK and Singaporean sovereign wealth fund GIC are among those that have made bids to buy stock in Hyundai Motor India’s US$3.3 billion initial public offering (IPO), according to sources familiar with the matter. The record-breaking IPO in Mumbai is also attracting other local and international institutional investors, the sources said, asking not to be…
Read MoreOil prices jump 4 per cent on US storm and Israel-Iran fears
OIL prices jumped about 4 per cent on Thursday (Oct 10) on a spike in US fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that demand for energy could grow in the US and China. Brent futures rose US$2.82, or 3.7 per cent, to settle at US$79.40 a barrel,…
Read MoreWhiteCoat to acquire Indonesian telemedicine startup Good Doctor
The Singapore-headquartered digital health provider has secured a round of fresh funding led by Raffles Family Office WHITECOAT Global is acquiring telemedicine platform Good Doctor Indonesia in what it calls “the biggest merger and acquisition involving two dominant telehealth companies in South-east Asia to date”. In a statement on Friday (Oct 11) morning, the Singapore-headquartered…
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