Posts by Yurie Miyazawa
Uber, Lyft reach deal with Massachusetts on driver benefits
Uber Technologies and Lyft agreed to a series of worker benefits to resolve a longstanding state lawsuit in Massachusetts that challenged drivers’ employment status as independent contractors, putting a stop to the companies’ bid to take the issue before voters in November. The companies will also pay a combined US$175 million to the state to…
Read MoreUS: Nasdaq, S&P 500 open higher as cool inflation data lifts rate cut bets
The tech-heavy Nasdaq and the benchmark S&P 500 opened higher on Friday (Jun 28) as a report closely watched by the Federal Reserve showed inflation moderating in line with expectations, strengthening hopes for early interest rate cuts this year. The Dow Jones Industrial Average fell 71.67 points, or 0.18 per cent, at the open to…
Read MoreDel Monte posts higher loss for Q4 FY2024, expects less red ink next FY
PHILIPPINE food-and-beverage manufacturer Del Monte Pacific fell deeper in the red with a net loss of US$76.7 million for the fourth quarter ended Apr 30, from its loss of US$11.9 million in the corresponding period last year. The company attributed the performance to higher variable product and waste cost, and warehousing and distribution costs related…
Read MoreWilmar raises its stake in Pakistan edible oils maker to 42.17%
The group’s subsidiary and a related company buy around US$15.4 million worth of shares in Unity Foods WILMAR International has upped its effective stake in Unity Foods, a Pakistan-listed edible oils and industrial fats producer, to 42.17 per cent, the Singapore mainboard-listed agribusiness announced on Friday (Jun 28). It increased its interest through its wholly…
Read MoreIndia’s Jio, Bharti Airtel hike call tariffs for first time in three years
RELIANCE’S Jio and Bharti Airtel, India’s two largest telecom operators, raised their tariffs for the first time in three years, aiming to begin recouping the billions poured into 5G technology over two years. Bharti Airtel said on Friday it would raise tariffs by 10 to 21 per cent, a day after market leader Jio said…
Read MoreAsia to emerge as hot spot for equity deals as India activity surges
A POSSIBLE revival in IPOs in Hong Kong after a pickup in Chinese regulatory approvals, and a string of mega deals in India are expected to make Asia a bright spot for equity deals in the second half of this year, bankers and analysts said. Despite the extended downturn in Asia initial public offerings (IPOs),…
Read MoreAt least four companies launch Hong Kong IPOs to raise about US$500 million
Bankers are hoping an increase in Chinese regulatory approvals and a surge in Indian deals will make Asia an equity capital market hotspot in H2 2024 At least four companies ranging from a US-based jet manufacturer to a Chinese generative artificial intelligence (AI) firm launched Hong Kong initial public offerings (IPOs) on Friday (Jun 28)…
Read MoreAt least four companies launch Hong Kong IPOs to raise about US$500 million
Bankers are hoping an increase in Chinese regulatory approvals and a surge in Indian deals will make Asia an equity capital market hotspot in the second half of 2024 At least four companies ranging from a US-based jet manufacturer to a Chinese generative AI firm launched Hong Kong initial public offerings on Friday (Jun 28)…
Read MoreJapan’s Topix reaches 34-year peak as financials gain, tech rebounds
Japan’s Topix stock index climbed to a 34-year high on Friday (Jun 28), as banks gained amid a gradual rise in domestic bond yields and technology shares rebounded from a sell-off in the previous day. The Topix ended the day up 0.57 per cent at 2,809.63, having earlier hit its highest since the country’s asset…
Read MoreRoof collapses at Delhi airport, one dead, departures cancelled
A ROOF collapsed under heavy rainfall and winds at the main airport in India’s capital New Delhi on Friday (Jun 28), killing one person and causing authorities to cancel flights from one terminal, officials and media said. A portion of the canopy at the departures area of Delhi airport’s terminal 1 collapsed at 5 am…
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