Posts by Yurie Miyazawa
Prosus sells entire stake in China’s Trip.com
This comes after Walmart sold its entire holding in Chinese e-commerce company JD.com for US$3.6 billion INTERNET investing company Prosus has sold its entire stake in online travel agency Trip.com in a US$743 million block trade, sources said, becoming the latest international investor to exit a Chinese tech company. Prosus sold 14.5 million shares in…
Read MoreSouth Korea’s Hanwha hits back at estate of Dyna-Mac’s founding shareholder
SOUTH Korean conglomerate Hanwha rebutted criticism from the estate of Dyna-Mac’s founder that its voluntary conditional offer is not compelling, maintaining that its proposition is based on a “rigorous review” of factors affecting Dyna-Mac’s business outlook. This includes its growth prospects and order book, as well as geopolitical tensions, macroeconomic uncertainties, volatility in oil prices…
Read MoreMozilla hit with privacy complaint over Firefox user tracking
VIENNA-BASED advocacy group NOYB on Wednesday (Sep 25) said it has filed a complaint with the Austrian data protection authority against Mozilla accusing the Firefox browser maker of tracking user behaviour on websites without consent. NOYB (None Of Your Business), a digital rights group founded by privacy activist Max Schrems, said Mozilla has enabled a…
Read MoreVolkswagen squares off with union over German plant closures
VOLKSWAGEN and unions start negotiations over wide-ranging cost cuts on Wednesday (Sep 25), with tensions between both sides higher than they have been in years. The talks centre on the carmaker’s plan to potentially shutter factories in Germany for the first time, after scrapping decades-old job protections earlier this month. Metalworkers’ union IG Metall has…
Read MoreNomura faces fine for Japan government bond market manipulation
NOMURA Holdings faces a 21.8 million yen (S$194,514) fine for allegedly manipulating the Japanese government bond futures market, a setback for the nation’s biggest brokerage during a revival of trading in the securities. An employee at the company’s domestic securities unit is suspected of fraudulently moving Japanese government bond futures prices in 2021, the Securities…
Read MoreChina unveils new measures to boost M&A, restructuring
CHINA’S securities regulator rolled out new guidelines to promote mergers and restructuring among listed companies as part of Beijing’s latest stimulus package to bolster the sagging economy. The China Securities Regulatory Commission (CSRC) will actively support deals involving strategic industries and key assets to upgrade towards the “new productive forces,” as President Xi Jinping’s…
Read MoreMAS sets up cyber and technology resilience experts panel
It will advise the central bank on key emerging technology risks and threats facing the financial sector THE Monetary Authority of Singapore (MAS) has set up a Cyber and Technology Resilience Experts (CTREX) panel to help ensure the robustness of the country’s financial sector in these two areas. This replaces the Cyber Security Advisory Panel…
Read MoreBillionaire’s China supermarket deal causes swift wealth wipeout
UNTIL recently, China’s budget retail billionaire Ye Guofu had been on a roll, building his fortune as his stores proved a hit in the nation’s slowing economy. Then his Miniso Group Holding announced a surprise bid to acquire a majority stake in struggling mega-supermarket Yonghui Superstores for 6.3 billion yuan (S$1.2 billion). Ye’s fortune tumbled…
Read MoreChina billionaire’s 6-billion yuan supermarket deal with Giant owner, JD.com sees swift wealth wipeout
UNTIL recently, China’s budget retail billionaire Ye Guofu had been on a roll, building his fortune as his stores proved a hit in the nation’s slowing economy. Then his Miniso Group Holding announced a surprise bid to acquire a majority stake in struggling mega-supermarket Yonghui Superstores for 6.3 billion yuan (S$1.2 billion). Miniso said in…
Read MoreAustralian dollar strikes 19-month peak, kiwi on highs for the year
THE Australian dollar was enjoying the view near 19-month peaks on Wednesday after inflation data slowed much as expected and failed to move the dial on rate cuts, while its New Zealand counterpart touched the highest for the year so far. Both had been boosted by hopes the latest package of Chinese stimulus measures might…
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