Posts by Yurie Miyazawa
Amazon CEO vows leaner teams amid bloat, ends work from home
AMAZON.COM chief executive officer Andy Jassy is moving to streamline the world’s largest online retailer and cloud-computing company, cutting management layers and ordering employees to return to the office five days a week beginning in January. The shakeup, announced in a memo to employees on Monday (Sep 16), echoed what some company veterans have been…
Read MoreBlackRock shakes up private credit to chase industry leaders
BLACKROCK is overhauling its private credit business as the world’s largest asset manager races to catch up to competitors in the booming market. The firm is setting up a new division, Global Direct Lending, appointing Stephan Caron, head of the European middle-market private debt business, to lead it. Jim Keenan, the global head of BlackRock’s…
Read MoreBoeing imposes hiring freeze, takes steps to conserve cash after strike starts
BOEING is pausing hiring and taking sweeping steps to conserve cash after about 33,000 workers went on strike on Sep 13 including considering temporary furloughs for many employees, managers and executives in the coming weeks. Boeing chief financial officer Brian West said the “strike jeopardises our recovery in a significant way and we must take…
Read MoreCiti taps tech chief Ryan to fix data management issues alongside COO
This comes after the bank agreed to a sweeping plan to fix its data faults in 2020 CITIGROUP has tasked technology head Tim Ryan to work alongside chief operating officer Anand Selva to fixing the bank’s longstanding data management issues, said a memo seen by Reuters on Monday (Sep 16). Ryan, who joined Citi in…
Read MoreEmbraer says Boeing will pay US$150 million for withdrawal from tie-up talks
BOEING will pay Embraer a gross amount of US$150 million over its decision to walk away from talks for a commercial aviation tie-up in 2020, the Brazilian planemaker said on Monday (Sep 16). The deal marks the completion of a lengthy arbitration process that begun after the US company aborted a US$4.2 billion agreement to…
Read MoreNestle gets rare ‘sell’ rating as Morgan Stanley adds to tide of growing scepticism
NESTLE received a rare negative rating as Morgan Stanley turned bearish on the consumer-goods giant, adding to a recent turn in the tide of analyst opinion. Shares in the maker of Kit Kat fell as much as 1.2 per cent in Zurich to the lowest since February 2019 after analyst Sarah Simon cut her recommendation…
Read MoreMidea shares rise 4.9% in Hong Kong grey-market trading
It is poised to be the Hong Kong market’s largest debut since Kuaishou Technology listed at US$6.2 billion in early 2021 CHINESE appliance maker Midea Group’s shares gained as much as 4.9 per cent in grey-market trading ahead of their Tuesday (Sep 17) debut in Hong Kong. The shares traded as high as HK$57.50 on…
Read MoreDBS has twice as many technologists as bankers in 2023: Harvard Business School study
LAST year, DBS had around 2,500 data scientists, analysts and engineers on its payroll. They formed part of the bank’s technology workforce, which is double the number of bankers it had. This came as demand for data analysts, scientists and artificial intelligence (AI) specialists significantly outpaced supply, according to a Harvard Business School study from…
Read MoreIndia’s Bajaj Housing Finance more than doubles in debut, fetches US$16 billion valuation
Shares of Bajaj Housing Finance more than doubled in their trading debut on Monday (Sep 16), giving the company a market capitalisation of US$16 billion and making it India’s most valuable listed home loan financier. The blockbuster listing is the latest in India’s booming IPO market that has seen over 200 companies raise more than…
Read MoreVolkswagen may book up to US$4.4 billion in provisions on capacity cuts
Volkswagen is considering shutting plants in Germany for the first time in its history Volkswagen may book up to US$4.4 billion in provisions for planned capacity cuts as early as the fourth quarter, analysts at brokerage Jefferies said in a note after travelling with company executives in North America. Volkswagen said earlier this month it…
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