Posts by Yurie Miyazawa
Japanese carmakers face US$19 billion hit from Trump’s tariffs
[TOKYO] Japan’s biggest carmakers are looking at a hit of more than US$19 billion from US President Donald Trump’s tariffs that have left the global auto industry reeling. The industry’s top brands warned of a weaker financial performance this year, or withheld guidance altogether, as they tallied up the potential cost of Trump’s ever-changing policies…
Read MoreEurope: Shares pull back after rally, earnings disappoint
EUROPEAN shares eased on Wednesday after a four-day rally fuelled by the US-UK and US-China trade deals that relieved some concerns over the global trade war, while downbeat corporate earnings also weighed. The continent-wide Stoxx 600 index closed 0.24 per cent lower at 543.88, its first loss in five sessions. The rise had started on Thursday…
Read MoreDatabricks to buy Neon for US$1 billion to boost AI-agent development
[SAN FRANCISCO] Databricks said on Wednesday (May 14) it would buy database startup Neon in a deal valued at about US$1 billion, aiming to strengthen its analytics platform with technology that can help businesses develop and use artificial intelligence agents more easily. Demand for AI agents, programmes that need little human intervention in executing routine…
Read MoreTencent quarterly revenue up 13% on AI, gaming boost
[BEIJING] Tencent Holdings, China’s biggest technology company by market capitalisation, posted a 13 per cent rise in first-quarter revenue on Wednesday (May 14), boosted by growth in gaming and AI-enhanced advertising. Tencent, also the world’s largest video game company and operator of the WeChat messaging platform, reported revenue of 180 billion yuan (S$32.4 billion) for…
Read MoreGSK to buy liver disease drug for as much as US$2 billion
The drug has the potential to become a best-in-class medicine to treat a form of fatty liver disease Published Wed, May 14, 2025 · 04:39 PM [LONDON] GSK agreed to buy an experimental medicine to treat liver disease for as much as US$2 billion as the UK drugmaker seeks to shore up its pipeline of…
Read MoreBurberry to cut 1,700 jobs as sales drop
[LONDON] Burberry Group plans to cut almost one-fifth of its work force as its new chief executive officer tries to turn around the British trench-coat maker, after its push into high fashion flopped amid a downturn in global demand for luxury goods. The London-based company plans an additional £60 million (S$103.9 million) of savings in…
Read MoreTaiwan tech giant Foxconn’s Q1 profit soars
Net profit in the first three months rose 91% year-on-year to NT$42.1 billion (S$1.8 billion) Published Wed, May 14, 2025 · 03:27 PM [TAIPEI] Taiwanese tech giant Foxconn said on Wednesday (May 14) its first-quarter net profit soared 91 per cent, beating expectations, on strong demand for artificial intelligence servers. The world’s biggest contract electronics…
Read MoreSingapore Airlines to operate out of Changi Airport’s Terminal 5; internal train to cover 2km distance
[SINGAPORE] Changi Airport’s upcoming Terminal 5 (T5) will host the operations of Singapore Airlines (SIA) group, with the terminal’s first phase designed to handle about 50 million passengers annually. When the mega terminal opens in the mid-2030s, it will see a consolidation of operations for Singapore Airlines and Scoot, which are now spread across three…
Read MoreBaidu prepares to launch driverless taxi in Europe: report
The company has been in discussions with Switzerland’s bus service provider PostAuto to debut its robotaxi service in Switzerland, WSJ reports Published Wed, May 14, 2025 · 02:18 PM [BENGALURU] Chinese technology major Baidu is preparing to test its driverless ride-hailing service, Apollo Go, in Europe for the first time, The Wall Street Journal (WSJ)…
Read MoreGXS Bank CEO to retire, GX Bank CEO to take over
[SINGAPORE] GXS Bank has announced that chief executive Muthukrishnan Ramaswami will be retiring on May 31. His successor will be Lai Pei-Si, CEO of GX Bank, the Malaysian arm of GXS, it said on Wednesday (May 14). Lai will take over as GXS CEO on Jun 1, with GX Bank deputy CEO Kaushik Chowdhury taking…
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