Posts by Yurie Miyazawa
Chinese stock traders ponder just how bad the economy can get
A slew of poor economic data from China is deepening pessimism among equities traders wondering what it’d take for authorities to initiate forceful stimulus. Figures released on Saturday (Sep 14) showed Chinese factory output, consumption and investment all slowed more than forecast for August, and the jobless rate unexpectedly rose to a six-month high. Home…
Read MoreUS: Wall St opens slightly higher on rising bets of bigger Fed rate cut
Wall Street opened slightly higher on Friday (Sep 12) as investors reevaluated the possibility of a bigger interest rate cut by the Federal Reserve next week. The Dow Jones Industrial Average rose 56.9 points, or 0.14 per cent, at the open to 41,153.7. The S&P 500 rose 7.6 points, or 0.14 per cent, at the…
Read MoreDSV to create global logistics giant with US$15.9 billion Schenker takeover
DENMARK’S DSV has agreed to buy Schenker, the logistics arm of German state rail operator Deutsche Bahn, for 14.3 billion euros (S$20.6 billion) in a deal that would make it the world’s biggest logistics company. The acquisition will be the biggest by a Danish company and propel DSV above Swiss group Kuehne und Nagel in…
Read MoreRussian hackers hit Taiwan bourse, bank in surprise attack
RUSSIAN hacker groups briefly disrupted Taiwanese financial platforms, including the stock exchange and lender Mega Financial’s website, exposing the vulnerability of the island to foreign cyberattacks. Two groups that go by the handles “NoName057” and “RipperSec” on Telegram swamped targeted websites with a so-called Distributed Denial of Service (DDoS) attack, which caused unstable connection issues…
Read MoreDeal between Vodafone and Three could harm mobile market, UK’s competition watchdog says
THE UK challenged Vodafone and Three’s claims that their £15 billion (S$25.6 billion) combination would leave the country’s mobile networks better off, saying the deal raises serious competition concerns, while still leaving a potential path for its completion. The UK’s Competition and Markets Authority (CMA) said on Friday (Sep 13) that it had found issues…
Read MoreFord plans to restart manufacturing plant in India’s Tamil Nadu state
“The move will see the facility re-purposed to focus on manufacturing for export to global markets,” says Ford Ford Motor plans to restart a manufacturing plant for exports in the southern Indian state of Tamil Nadu, the company said on Friday (Sep 13), potentially re-entering a market it exited three years ago. Ford said it…
Read MoreJapan’s Mitsubishi to buy stake, offtake ammonia from ExxonMobil in Texas
JAPANESE trading house Mitsubishi said on Friday (Sep 13) it has reached a preliminary agreement to buy a stake in and offtake low-carbon ammonia from ExxonMobil’s hydrogen facility in Texas. As part of its decarbonisation drive, Japan is aiming to increase the usage of hydrogen and its derivative, ammonia, for co-firing at power plants, usage…
Read MoreWill airline stocks manage turbulence?
In this issue:
Read MoreSam’s Club, Lululemon among brands defying China consumption dip
AMID anaemic consumer demand in China, some brands are still seeing double-digit sales growth in signs that it’s not all gloom and doom in the world’s No 2 economy. While top luxury brands and discount retailers alike are struggling with sluggish demand, a select few consumer companies have managed to deliver astronomical gains reminiscent of…
Read MoreBank of Korea to consider timing for rate cut while keeping policy tight
THE Bank of Korea (BOK) said it will consider the timing to reduce its benchmark interest rate while keeping its policy restrictive, suggesting its cautious approach remains ahead of a key decision next month. In a regular report to parliament, the central bank said on Thursday (Sep 12) that risks for financial stability will be…
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