Posts by Yurie Miyazawa
UPS misses quarterly estimates on high labour costs, weak small-package demand
UNITED Parcel Service (UPS) missed Wall Street estimates for second-quarter earnings on Tuesday (Jul 23), hurt by subdued package delivery demand and higher costs from its Teamsters labour contract. Shares of the delivery company, seen as a bellwether for the global economy, were down 8 per cent in premarket trading, while shares of rival FedEx…
Read MoreJulius Baer picks Goldman Sachs veteran Bollinger as new CEO
JULIUS Baer Group has hired Stefan Bollinger to be its next chief executive officer, a relatively unknown pick to lead the Swiss wealth manager as it seeks to draw a line under last year’s Signa real estate scandal. Bollinger will join from Goldman Sachs Group, where he is currently co-head of private wealth management for…
Read MoreLVMH-backed L Catterton approaches Mattel with acquisition offer: sources
L CATTERTON, the private equity firm backed by luxury goods giant LVMH, has approached Mattel, the toy maker behind Barbie and Hot Wheels, with an acquisition offer, people familiar with the matter said on Monday (Jul 22). The move could prompt other potential suitors to consider bids for Mattel, including rival Hasbro, which has become…
Read MoreWiz calls off US$23 billion deal with Google, memo says
ISRAELI cybersecurity startup Wiz has ended talks with Google-parent Alphabet on a reported US$23 billion deal in which it would have become the US tech giant’s largest-ever acquisition, according to a Wiz memo seen by Reuters. Wiz CEO Assaf Rappaport said the company would now focus on an initial public offering, as it had planned…
Read MoreStocks to watch: Seatrium
THE following company saw new developments that may affect trading of its securities on Tuesday (Jul 23): Seatrium: The offshore and marine specialist has secured S$180 million worth of contracts to repair and upgrade various types of ships, such as offshore vessels, ferries and tankers. All the projects, except one, are slated for completion by…
Read MoreChina F&B brands view Singapore as first stop before expanding to Asean
SINGAPORE consumers are seeing a new wave of Chinese food and beverage (F&B) brands entering the local market as the Republic gains popularity as a point of entry to the region. Such businesses consider Singapore an important first stop as building a strong brand presence here earns them an international reputation, which helps them expand,…
Read MoreUS: Wall St opens higher as investors assess US election after Biden exit
Wall Street’s main indexes opened higher on Monday (Jul 22) as investors weighed the odds of a second term for Republican nominee Donald Trump in the November election after President Joe Biden withdrew from the race and endorsed Kamala Harris’s candidature. The Dow Jones Industrial Average rose 126.96 points, or 0.32 per cent, at the…
Read MoreBoeing secures 40-plane order from Korean Air
The airplane manufacturer also has an order from US group National Airlines for four wide-body cargo planes KOREAN Air lodged a firm order on Monday (Jul 22) for 40 Boeing 787 and 777X wide-body aircraft at Britain’s Farnborough airshow, handing a boost to the embattled US aviation giant. The deal, which includes an option for…
Read MoreTesla to have humanoid robots for internal use next year, Musk says
TESLA will have humanoid robots in low production for the company’s internal use next year, CEO Elon Musk said on Monday (Jul 22), months after he announced that the rollout would be by the end of 2024. The company will have the robots in high production for other companies’ use “hopefully” in 2026, Musk said…
Read MoreNvidia preparing version of new flagship AI chip for Chinese market: sources
NVIDIA is working on a version of its new flagship AI chips for the China market that would be compatible with current US export controls, four sources familiar with the matter said. The AI chip giant in March unveiled its “Blackwell” chip series, which is due to be mass-produced later in the year. The new…
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