Posts by Yurie Miyazawa
‘Storm has truly passed’: Top Glove swings back into the black with RM50.7 million Q3 profit
Return to profit boosted by customers replenishing their glove inventories; managing director says group well-positioned to meet growing glove demand MALAYSIAN glove maker Top Glove Corporation on Wednesday (Jun 19) reported a net profit of RM50.7 million (S$14.5 million) for the third quarter ended May 31, reversing a loss of RM130.6 million in the same…
Read MoreJaguar Land Rover to revive Freelander as a made-in-China EV
A DECADE after it ceased production of the Freelander, Jaguar Land Rover Automotive is reviving the four-wheel drive car as an electric vehicle (EV) made and sold in China. The heritage marque and China’s Chery Automobile signed a letter of intent to license the Freelander brand in order to create a new lineup of EVs,…
Read MoreTaiwan’s Cathay United Bank follows client money to Singapore
CATHAY Financial Holding, Taiwan’s largest financial firm by assets, is hiring more staff in Singapore to follow shifting regional money flows as its clients expand their presence in South-east Asia. The group’s Cathay United Bank is ramping up headcount in the city-state to around 200 by 2025, from 100 two years ago, said Winfield Wong,…
Read MoreGold holds ground as traders gauge Fed rate-cut bets
GOLD prices were steady on Wednesday (Jun 19) after softer-than-expected US retail sales data reinforced bets of imminent Federal Reserve rate cuts. Spot gold held its ground at US$2,327.76 per ounce, as at 0115 GMT. US gold futures edged 0.2 per cent lower to US$2,342.00. US retail sales rose 0.1 per cent last month, the…
Read MoreRBNZ chief economist Conway says progress being made on bringing inflation back to target
RESERVE Bank of New Zealand chief economist Paul Conway said on Wednesday that good progress is being made in bringing inflation back to target but a period of restrictive policy was needed to give confidence it would meet the goal. Conway said in a speech that was live-streamed that increasing spare capacity in the economy…
Read MoreNintendo surprises fans by announcing new ‘Zelda’ game
NINTENDO surprised fans on Tuesday (Jun 18) by announcing a new chapter in its 40-year-old Zelda saga, one of the Japanese video game giant’s biggest cash-cows. During an event broadcast on the web, the firm said The Legend of Zelda Echoes of Wisdom would be scheduled for release on the Switch console on Sep 26.…
Read MoreApple turns to third parties for ‘buy now, pay later’ after sunsetting product
ALTHOUGH Apple is discontinuing its buy now, pay later (BNPL) service launched last year, the company is sticking with the product, with a successor to the offering launching later this year via third parties such as Affirm. BNPL exploded in popularity as the Covid-19 pandemic forced more shoppers online, and the product has continued to…
Read MoreCiti CFO Mark Mason says investment banking fees likely up 50%
CITIGROUP said it expects banking fees to surge 50 per cent in the second quarter compared with a year earlier on better prospects for merger advice and debt and equity underwriting. By contrast, revenue from the markets business will be “flatish to down a bit”, chief financial officer Mark Mason said at the company’s investor…
Read MoreTaiwan’s CTCI plans water plant as chipmakers clamour for supply
TAIWAN’S CTCI and partners will develop and operate a 508 million euros (S$737 million) water-desalination plant as demand from chipmakers soars. The island’s Water Resources Agency awarded the contract, which includes a 15-year operation and maintenance clause, to a group that also includes Hung Hua Construction and France’s Suez, the companies said in a joint…
Read MoreBarclays’ UK corporate bank to cut costs by £100 million, expand lending
BARCLAYS will cut about £100 million (S$172 million) of annual costs from its UK corporate banking business by 2026, it said on Tuesday (Jun 18), under broader plans to ramp up investment in the under-achieving unit. The UK-based lender seeks to deepen lending relationships with corporate clients, the division’s CEO Matt Hammerstein told analysts on…
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