Posts by Yurie Miyazawa
Olam raises bid for Australia’s Namoi Cotton to A$0.75 per share
This comes days after independent directors of Namoi unanimously recommended that shareholders accept Louis Dreyfus Company Melbourne’s takeover offer THE tussle for Australia’s largest cotton ginner is heating up as Olam Agri raised its takeover offer to A$0.75 per share for Namoi Cotton, from A$0.70 per share. The new offer by Olam Group’s indirect…
Read MoreUS FAA head to testify before Senate panel on Boeing oversight
THE head of the Federal Aviation Administration will testify on Sept 25 before the Senate Permanent Subcommittee on Investigations on the planemaker’s oversight of Boeing, a committee aide told Reuters. The committee, led by Senator Richard Blumenthal, in June sharply questioned then-Boeing CEO Dave Calhoun on the planemaker’s safety record. The hearing later this month,…
Read MoreMidea raises US$4 billion in upsized Hong Kong listing
CHINESE appliance giant Midea Group raised US$4 billion in its Hong Kong listing in an enlarged deal that was priced at the top of the marketed range, in a show of demand for the city’s biggest share sale in over three years. The Foshan, China-based company sold shares at HK$54.80 apiece, according to terms of…
Read MoreGM looks to Japan’s TDK to make US batteries with China tech
GENERAL Motors (GM) is in discussions to buy electric vehicle (EV) batteries that would use technology from China’s Contemporary Amperex Technology (CATL) and be assembled at a new plant slated to be built in the US, according to sources familiar with the matter. The factory would be funded and operated by TDK, a Japanese company…
Read MoreFlood of new F&B brands, players leaves trail of local casualties
But some operators say cut-throat competition also present new opportunities for incumbents and new players LOCAL food and beverage (F&B) operators are facing increasing pressure from a flood of new entrants into the market – especially overseas players such as those from China. And some homegrown F&B brands are being forced to innovate – or…
Read MoreNvidia CEO says customer relations are ‘tense’ due to shortages
NVIDIA CEO Jensen Huang, whose products have become the hottest commodity in the technology world, said that the scramble for a limited amount of supply has frustrated some customers and raised tensions. “The demand on it is so great, and everyone wants to be first and everyone wants to be most,” he told the audience…
Read MoreLloyd’s of London plans overhaul of ‘unclear’ conduct rules
Lloyd’s of London said on Thursday (Sep 12) it plans to overhaul its rules on dealing with poor conduct in the commercial insurance market as its current processes for dealing with bad behaviour could be “unclear”. The Lloyd’s of London market, which employs nearly 50,000 people across insurance underwriting and broking, has come under scrutiny…
Read MoreTwo Chinese AI chipmakers seek IPOs to mount challenge to Nvidia
TWO of China’s most prominent designers of artificial intelligence (AI) chips are each targeting an initial public offering (IPO) in Shanghai as soon as this year, taking advantage of growing appetite for domestic players seeking to challenge Nvidia. Shanghai Enflame Technology aims to raise as much as two billion yuan (S$366.7 million) in an IPO…
Read MoreIndian state minister to meet Samsung officials in bid to resolve strike
The plant, which has been disrupted for four days, makes appliances that contribute 20 to 30% of the South Korean company’s annual revenue of US$12 billion in India THE labour minister of India’s southern state of Tamil Nadu is set to hold talks on Thursday (Sep 12) with officials of Samsung Electronics, in a bid…
Read MoreSamsung workers to continue India plant strike after talks end without deal
SAMSUNG Electronics employees will continue their strike for the fifth day after a meeting on Thursday (Sep 12) between their union, the company’s management and the state government could not reach any settlement, a union leader said. Tamil Nadu’s labour minister held talks with union representatives and Samsung officials in a bid to resolve a…
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