Posts by Yurie Miyazawa
Greenback pares gains after US retail sales miss expectations in May
THE US dollar pared gains against the euro on Tuesday (Jun 18) after retail sales data indicated signs of exhaustion among US consumers, boosting the case for Federal Reserve rate cuts later this year. US retail sales increased less than expected in May as lower prices for petrol and motor vehicles weighed on receipts at…
Read MoreVodafone to sell 10% stake in India’s Indus Towers for up to US$1.1 billion
Vodafone Group will sell about 10 per cent stake in India’s Indus Towers for as much as US$1.1 billion on Wednesday (Jun 19), per a term sheet seen by Reuters, as a part of the British firm’s efforts to repay debt. Last week, Reuters reported that Vodafone was mulling to sell its stake in mobile-tower…
Read MoreFrench watchdog asks court to fine Carrefour over franchise operations
FRANCE’S finance ministry has asked a court to fine retailer Carrefour over contracts with franchisee stores that it says were unbalanced in its favour, it said on Tuesday (Jun 18), a move the group denounced. The ministry’s General Directorate for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) said in a statement that its investigations…
Read MoreStrong momentum in India’s economic activity seen sustaining, says central bank chief
Strong momentum in India’s economic activity has continued in the first quarter of the new financial year that started in April, with private investment also picking pace, Reserve Bank of India governor Shaktikanta Das said on Tuesday (Jun 18). The RBI kept the key repo rate unchanged at 6.5 per cent for an eighth straight…
Read MoreBerkshire Hathaway boosts stake in Occidental Petroleum to nearly 29%
BILLIONAIRE Warren Buffett’s Berkshire Hathaway acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the US oil producer’s common stock to nearly 29 per cent. Berkshire disclosed in a US Securities and Exchange Commission filing on Monday (Jun 17) that it paid about US$176 million in three separate…
Read MoreHitachi to plan selling stake in Johnson Aircon JV
Hitachi is planning to sell its 40 per cent stake in an air-conditioning joint venture with Johnson Controls International, according to people familiar with the matter. Such a move would likely mean an outright sale of Johnson Controls-Hitachi Air Conditioning. Johnson, which owns the other 60 per cent, has for months been exploring a sale…
Read MoreMore central banks to increase gold reserves within 12 months
More central banks plan to add to their gold reserves within a year and more of them expect others to do so as well, due to ongoing macroeconomic and political uncertainty despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey. Demand for gold from central banks has…
Read MoreCapitaLand Investment adopts cooling-as-a-service at flagship Singapore properties
CapitaLand Investment (CLI) will adopt cooling-as-a-service (Caas) systems in Raffles City Singapore, Plaza Singapura and The Atrium@Orchard, the global real asset manager announced on Tuesday (Jun 18). This comes amid the company’s efforts to drive for sustainability and cost efficiency. The cooling systems across the three flagship properties will cover 4.8 million square feet (sq…
Read MoreBrokers’ take: Maybank downgrades Grab to ‘hold’ on monetisation hurdles
MAYBANK Securities downgraded its call on Grab to “hold” from “buy” and reduced its target price by 11.1 cent to US$4 from US$4.50. This came as the research house sees mild growth headwinds and monetisation hurdles for the Nasdaq-listed transportation and fintech platform, despite its scale advantages and structural growth drivers, it said in a…
Read MoreTroubled electric vehicle maker Fisker files for bankruptcy
ELECTRIC vehicle (EV) startup Fisker has filed for bankruptcy after discussions with a major automaker about an investment ended without a deal. Fisker listed assets of between US$500 million and US$1 billion and liabilities of between US$100 million and US$500 million in its bankruptcy petition filed on Jun 17 in Delaware. The filing protects Fisker…
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