Posts by Yurie Miyazawa
Convertible bond mania intensifies as Trip.com follows Alibaba
THERE’S no let up in the rush by Chinese technology companies to issue convertible bonds, with online travel agency Trip.com now following industry giants such as Alibaba Group Holding into the action. Trip.com announced on Tuesday (Jun 4) a proposed offering of US$1.3 billion convertible senior notes due in 2029 to help repay debt, expand…
Read MoreAsia: Most markets rise on US jobs data but fears temper optimism
EQUITIES mostly rose on Wednesday (Jun 5) on building optimism that the Federal Reserve will cut interest rates before the end of the year after the latest batch of data indicated the long-resilient US jobs market was showing signs of easing. However, after a big downside miss on factory activity the day before – and…
Read MoreLand business unit not involved in sale of Thai properties, says Yoma
YOMA Strategic : Z59 0% has clarified that its land unit, Yoma Land, is not involved in the business of selling properties in Thailand. On Wednesday (Jun 5), the Myanmar-focused conglomerate emphasised that Yoma Land’s focus is solely on selling Myanmar properties. Any past or present property sales events related to condominiums in Bangkok are…
Read MoreChinese move billions into Hong Kong banks seeking higher yields
HSBC Holdings attracted more than 130,000 new bank customers in Hong Kong in the first quarter. Bank of China (Hong Kong) gained 200,000 new cross-border clients in 2023, while at Hang Seng Bank, new account openings for non-residents jumped 342 per cent last year. The surge is in large part being driven by mainland Chinese…
Read MoreChina AI chip firms downgrading designs to secure TSMC production: sources
SOME Chinese AI chip companies are now designing less powerful processors to retain access to Taiwan Semiconductor Manufacturing Company (TSMC) production in the face of US sanctions, four sources with knowledge of the matter said. Aiming to impede breakthroughs in artificial intelligence (AI) and supercomputing by China’s military, Washington has imposed a series of export…
Read MoreApollo Global to provide US$11 billion to Intel for Ireland facility
BUYOUT firm Apollo Global Management will acquire a 49 per cent equity interest in Intel’s manufacturing facility in Ireland for US$11 billion, the company said on Tuesday (Jun 4). Apollo will acquire the stake in the Fab 34 facility in Leixlip, Ireland, the US chipmaker’s first high-volume location for its Intel 4 manufacturing process using…
Read MoreFew exits, limited investor appetite to test South-east Asia’s PE managers
PRIVATE equity (PE) funds operating in South-east Asia will need a strong domestic presence to pull off roll-ups and trade sales in the face of mounting challenges, including difficulties exiting investments and raising funds. Investors are showing a preference for larger funds and managers with a pan-Asia focus, but various industry players The Business Times…
Read MoreUnited Airlines cuts hiring plans for 2024 due to Boeing delays
UNITED Airlines will hire fewer-than-expected employees this year due to delays in aircraft deliveries from Boeing, a company executive said on Tuesday (Jun 4). Kate Gebo, head of United’s human resources and labour relations, told reporters the airline currently expects to hire close to 10,000 new employees in 2024 compared with 13,000 to 15,000 employees…
Read MoreMicrosoft takes its AI push to customer service call centres
MICROSOFT on Tuesday (Jun 4) said it will introduce new artificial intelligence tools for customer service call centres. Microsoft, which has backed ChatGPT creator OpenAI, is taking AI technology into a number of fields of the business world with what it calls Copilot technology, which is capable of summarising emails and crafting PowerPoint slides as…
Read MoreUS: Wall Street edges lower as growth worries resurface
Wall Street’s main indexes inched down on Tuesday (Jun 4) as concern grew about the health of the world’s largest economy, even as investors eyed key economic data due this week for clues on how much growth has slowed. The Dow Jones Industrial Average fell 52.17 points, or 0.14 per cent, at the open to…
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