Leadership
Converse to cut jobs as part of Nike’s cost-savings plan
FOOTWEAR brand Converse will cut jobs as part of parent company Nike’s ongoing US$2 billion cost savings plan, a source familiar with the matter said on Tuesday (May 14).Nike...
US cites threat of Chinese EVs made in Mexico as trade concern
THE Biden administration is watching for any attempts by Chinese companies to export cars from Mexico into the US, and considering ways to block them if they seek to...
US: Wall St nearly flat at open after hot inflation data
Wall Street’s main indexes were little changed on Tuesday (May 14) as investors assessed stronger-than-expected producer prices data and awaited Federal Reserve Chair Jerome Powell’s speech later in the...
Jack Ma-backed Ant’s profit fell 19% as regulations curb growth
ANT Group’s quarterly earnings fell 19 per cent as the Chinese fintech pioneer founded by Jack Ma struggles to find new drivers of growth following regulatory clampdowns at home.
The...
Frencken Q1 earnings up 73% to S$9 million on back of revenue growth, higher gross profit margin
SEMICONDUCTOR player Frencken Group : E28 0% reported a net profit of S$9 million for the first quarter ended Mar 31 for FY2023, up 73 per cent from S$5.2...
Sea posts US$23 million Q1 loss, but investors cheer Shopee’s record revenue
E-COMMERCE and gaming company Sea recorded a US$23 million net loss for the first quarter ended Mar 31 – a result investors cheered, though it reversed the company’s year-ago...
China’s Alibaba beats quarterly revenue estimates, profit drops
CHINA’S Alibaba Group Holding beat analysts’ estimates for fourth-quarter revenue on Tuesday (May 14), as a focus on low-cost goods in response to cautious consumer spending helped boost domestic...
China’s Alibaba profit tumbles 86% though revenue beats estimates
CHINA’S Alibaba Group Holding reported an 86 per cent plunge in fourth-quarter profit on Tuesday (May 14) primarily due to valuation changes from equity investments, pushing its US-listed shares...
