Posts by Yurie Miyazawa
China vows to address ‘irrational competition’ in EV sector
[BEIJING] China pledged to rein in “irrational competition” in its electric vehicle (EV) sector, reflecting authorities’ increasing urgency to tackle deflationary price wars threatening economic and industrial growth. The vow came in a State Council meeting on Wednesday (Jul 16) that was chaired by Premier Li Qiang, according to a readout published by Xinhua News…
Read Moremm2 Asia evaluating all available options, including winding up Cathay Cineplexes
[SINGAPORE] Cathay Cineplexes parent company mm2 Asia said on Thursday (Jul 17) that it is evaluating all available options to address its financial challenges, including winding up the cinema chain. The other options included continued negotiations with Cathay’s landlords, with the aim of restructuring existing obligations consensually, and restructuring the cinema’s existing obligations under a…
Read MoreCity Energy launches app-free electric vehicle charging across Singapore, Malaysia
[SINGAPORE] City Energy’s electric vehicle (EV) charging arm, Go by City Energy, on Wednesday (Jul 16) introduced the first app-free EV charging experience in Singapore. The new “AutoCharge” system will enable EV drivers to plug in and charge their vehicles, with no QR codes or logins required apart from a one-time set-up on the Go…
Read MoreWhat is Laopu Gold? Its stock soared 2,000% and now it’s opened a store in Marina Bay Sands
[SINGAPORE] Up-and-coming Chinese jewellery label Laopu Gold has made waves in the past year with both consumers and investors alike. There has been rapidly rising demand for its offerings – and a stock price that has soared more than 2,000 per cent since its blockbuster Hong Kong listing at an initial public offering price of HK$40.50…
Read MoreWalmart eliminates hundreds of store-support and training jobs
The company aims to staff the academies differently based on the needs and number of participants and plans to add some new roles Published Thu, Jul 17, 2025 · 11:27 AM [CHICAGO] Walmart is cutting hundreds of store-support roles, its latest move to simplify structure at the world’s largest retailer. The company is eliminating the…
Read MoreScale AI to cut 14% of staff following Meta investment
[SAN FRANCISCO] Scale AI is laying off hundreds of employees from its data-labelling business, one-month after Meta Platforms invested US$14.3 billion in the startup and hired away its chief executive officer. The company cut 200 full-time employees, about 14 per cent of its global workforce, and will provide severance, Scale spokesperson Joe Osborne said on…
Read MoreFrench prosecutors demand Fiat face trial in diesel scandal
Published Thu, Jul 17, 2025 · 10:50 AM [PARIS] French prosecutors have demanded Italian car maker Fiat face trial on fraud charges over the emissions-tampering scandal that struck German giant Volkswagen, a source told AFP on Wednesday. It is the fourth trial demanded in France against major car makers after cases against Volkswagen and the…
Read MoreGold dips as US dollar firms, Trump’s Powell remarks ease market jitters
Published Thu, Jul 17, 2025 · 10:22 AM [BENGALURU] Gold prices dipped in early Asian trade on Thursday (Jul 17), pressured by a firmer US dollar and easing market tensions after US President Donald Trump said it was “highly unlikely” he would dismiss Federal Reserve chair Jerome Powell. Spot gold was down 0.2 per cent…
Read MoreST Engineering unit, SP Group to sell joint venture for S$290 million to Singapore fund manager Seraya Partners
[SINGAPORE] ST Engineering Urban Solutions, a wholly owned subsidiary of ST Engineering, has entered into an agreement with national grid operator SP Group to divest their joint venture (JV) SPTel, an enterprise broadband connectivity provider. On Thursday (Jul 17), ST Engineering and SP Group said that the proposed transaction will better position SPTel to scale…
Read MoreMarkets rattled by ‘credible threat’ of Trump trying to fire Jerome Powell
[NEW YORK] Once again, US President Donald Trump demonstrated his power to shake up global financial markets. This time, by returning to one of his favourite topics: whether to fire Federal Reserve chair Jerome Powell. In an echo of the havoc that Trump unleashed with his trade war in early April, markets were briefly turned…
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