Posts by Yurie Miyazawa
Volkswagen weighs first-ever Germany plant closures to cut costs
Volkswagen (VW) is considering unprecedented factory closures in Germany in a bid for deeper cutbacks, delivering another blow to Chancellor Olaf Scholz’s government. The potential measures, targeting its main passenger car brand as well as other group operations, also include trying to end the company’s pact with unions to keep jobs secure until 2029, the…
Read More‘Stars are aligning’ for UK property stocks, Morgan Stanley says
BRITISH real estate stocks could be flipping the script on a “lost decade,” according to Morgan Stanley analysts, who have the UK as their preferred region in the European property sector amid signs of a pick-up. “Confidence is returning, balance sheets are healthy and assets have been marked down,” analysts including Bart Gysens and Ana…
Read MoreMalaysia’s Kenanga Investment Bank invests US$5.2 million in Singapore fintech Helicap
The investment is part of Helicap’s Series B funding round and represents an 8% stake in the fintech MALAYSIA-BASED Kenanga Investment Bank on Monday (Sep 2) announced it has invested in Singapore fintech company Helicap to advance the bank’s digitalisation initiatives. The Business Times understands the investment amount is US$5.2 million. Kenanga said it has…
Read More10-year average return on latest Singapore Savings Bond falls to 2.77%
The 10-year average return for the October tranch is lower than that for September, which was 3.1% SINGAPORE Savings Bond (SSB) yields continued to fall in the latest tranche, ahead of the anticipated rate cuts by the US Federal Reserve in September. The October tranche, which opened on Monday (Sep 2), is offering a first-year…
Read MoreByteDance eyes US$9.5 billion in record Asia dollar corporate loan
ByteDance, the Chinese owner of TikTok, is tapping banks for a US$9.5 billion loan that would be the biggest dollar-denominated corporate facility in Asia ex-Japan, according to people familiar with the matter. Citigroup, Goldman Sachs and JPMorgan are the coordinators of the latest financing, which carries a tenor of three years and can be extended…
Read MoreApple set for music, TV streaming fight in India after Airtel deal
APPLE’S partnership with India’s second-biggest telecoms firm will give the iPhone maker a sorely needed boost in a content market where it lags far behind the likes of Spotify and Walt Disney. The US technology giant, working to boost revenue globally from services including apps, payments and media, is set to offer free music and…
Read MoreFintech Validus bags US$50 million loan to fund Indonesian MSMEs
VALIDUS has secured a debt facility of up to US$50 million from HSBC under the lender’s Asean growth fund strategy. Proceeds will be deployed through Validus’ Indonesian subsidiary Batumbu to micro, small and medium-sized enterprises (MSMEs) to help these smaller businesses with access to financial resources, the digital financing platform said on Friday (Aug 30).…
Read MoreStocks to watch: Nio, Sats, Sembcorp
THE following companies saw new developments that may affect trading of their securities on Monday (Sep 2):
Read MoreWeakness in ferrous metal prices expected to persist amid China’s property, economic recovery woes
A sluggish Chinese economy has dampened the industrial metal markets, particularly the demand for iron and steel FERROUS metal prices are taking the hardest hit, analysts said, as concerns over a slow economic recovery and prolonged real estate woes in China – the world’s largest industrial metals consumer – weigh on the metal markets. Prices…
Read More‘Wrong instructions’ by EC World Reit sponsor CEO led to illegal mortgages, says legal counsel
THE chief executive officer of EC World Real Estate Investment Trust’s (Reit) sponsor gave wrong instructions to employees, and this led to the creation of unauthorised mortgages, investigations into the matter have found. In January, the manager revealed that three properties owned by EC World Reit had been mortgaged without its consent or knowledge. The…
Read More