Date
17 September 2019

Industries

  • Sony says semiconductor business will be a crucial growth driver for the company in the years to come. Photo: Bloomberg

    Sony rejects US hedge fund’s call to spin off chip business

    Sep 17, 2019 6:09pm
    Sony said on Tuesday that it has rejected a call by Daniel Loeb’s activist hedge fund Third Point to spin off the firm’s semiconductor business. The company is of the view that retaining the operations “is...
  • A buyout of Bitauto will allow Tencent to boost its holding in the online automobile retail platform Yixin Group indirectly. Photo: Reuters

    What’s driving Tencent’s privatization bid for Bitauto?

    - Sep 17, 2019 3:11pm
    Crisis brings opportunity. Many years ago, investors learnt a painful lesson after betting heavily on the so-called new economy stocks that subsequently proved toxic amid a sharp slide in the post-IPO performance. Now, the game seems...
  • HKEx CEO Charles Li (inset) has pushed a deal for the LSE Group, but has been rebuffed by the London bourse. Photo: Reuters

    Should HKEx investors be excited about the takeover bid for LSE?

    - Sep 17, 2019 10:16am
    Hong Kong Exchanges and Clearing (HKEx, 00388,HK)) unveiled a surprise US$39 billion takeover bid for the London Stock Exchange (LSE) last week, news that sparked plenty of excitement among mainland netizens as they expect the deal...
  • A Softbank unit will take on the Vivint name after the integration of the home automation firm. Photo: Bloomberg

    Blackstone-backed Vivint Smart Home to merge with SoftBank unit

    Sep 17, 2019 9:43am
    Vivint Smart Home Inc, a home automation company backed by Blackstone Group, on Monday agreed to merge with a company funded by a unit of Japan’s SoftBank Corp, Reuters reports. The merger will create a firm...
  • Apple is mounting a legal challenge over a European Commission order to pay billions of dollars in Irish back taxes. Photo: Reuters

    Apple to begin legal fight over 13 bln euro EU tax order

    Sep 17, 2019 9:34am
    Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros (US$14.4 billion) in Irish back taxes in a landmark case in the EU’s crackdown on tax avoidance by...
  • GM plans to introduce a series of electric vehicles by 2023. Photo: Bloomberg.

    Electric pickup, batteries in GM’s US$7 bln investment pledge

    Sep 17, 2019 9:26am
    An all-electric pickup truck and an advanced battery system will be part of the US$7 billion that General Motors has pledged to invest in the United States as parts of contract talks with the United Auto...
  • A robust real estate industry has helped China counter a broader slowdown in its economy from a protracted trade war with the United States. Photo: CNSA

    China property investment growth at four-month high in August

    Sep 16, 2019 12:07pm
    China’s property investment grew at its fastest pace in four months in August, a boon for the economy as other sectors weaken from the Sino-US trade war and consumer demand slows. Sales growth accelerated to the...
  • Purdue Pharma is accused of aggressively marketing prescription painkillers while misleading doctors and patients about their addiction and overdose risks. Photo: Reuters

    Purdue Pharma files for bankruptcy protection

    Sep 16, 2019 11:37am
    OxyContin maker Purdue Pharma LP filed for bankruptcy protection in New York, succumbing to pressure from more than 2,000 lawsuits alleging the company helped fuel the deadly US opioid epidemic, Reuters reports. Purdue’s board met Sunday...
  • Adam Neumann, 40, is under pressure to proceed with the IPO to raise cash to keep WeWork’s operations going. Photo: Reuters

    WeWork IPO spells rough landing for CEO Neumann

    Sep 16, 2019 9:12am
    Adam Neumann showed he can capitalize on troubled times a decade ago, tapping into demand for workspace by those forced out of jobs in the aftermath of the financial crisis to grow WeWork into a global...
  • A satellite image shows an apparent drone strike on an Aramco oil facility in Abqaiq, Saudi Arabia, on Saturday. Planet Labs/ Handout via Reuters

    Oil prices surge 15% after attack hits global supply

    Sep 16, 2019 8:05am
    Oil prices surged more than 15 percent to their highest level in nearly four months at the open on Sunday after an attack on Saudi Arabia’s oil facilities on Saturday that knocked out more than 5...
  • General Motors workers carry strike signs outside the United Auto Workers local office in Westland, Michigan, on Sunday. Photo: AFP

    General Motors workers call first nationwide strike in 12 years

    Sep 16, 2019 7:51am
    The United Auto Workers (UAW) said its roughly 48,000 hourly workers at General Motors facilities would go on strike as of midnight on Sunday after US labor contract talks reached an impasse, the first nationwide strike...
  • The Hong Kong Exchanges and Clearing has reportedly set up meetings with top investors of the London Stock Exchange over the next few weeks. Photo: AFP

    After LSE rebuff, HKEx begins investor charm offensive

    Sep 16, 2019 7:39am
    Hong Kong Exchanges and Clearing (HKEx, 00388.HK) is embarking on a three-week charm offensive with London Stock Exchange investors as the Asian trading house tries to salvage its proposed US$39 billion takeover offer, Reuters reports. LSE’s...
  • Smoke billows from an Aramco factory in Abqaiq, Saudi Arabia, on Saturday. Photo: Screenshot from video obtained by Reuters via Reuters

    Attacks knock out half of Saudi oil output

    Sep 15, 2019 9:08am
    Yemen’s Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, knocking out more than half the Kingdom’s output, in a move expected to send oil prices soaring...
  • Washington is believed to have told its allies in the Persian Gulf region to think carefully before using Huawei equipment in 5G networks. Photo: Reuters

    US flags Huawei 5G network security concerns to Gulf allies

    Sep 13, 2019 9:28am
    The United States has flagged concerns with its Gulf allies over a possible security risk in using Huawei’s technology for 5G mobile infrastructure, Reuters reports. “We shared a … message about the importance of securing 5G...
  • Google pays little tax in most European countries because it reports almost all sales in Ireland. Photo: Bloomberg

    Google to pay US$1 bln in France to settle fiscal fraud probe

    Sep 13, 2019 9:26am
    Google agreed to pay close to 1 billion euros (US$1.10 billion) to French authorities to settle a fiscal fraud probe that began four years ago in a deal that may create a legal precedent for other...
  • The London Stock Exchange reportedly wants to focus on completing its US$27 billion proposed acquisition of Refinitiv rather than risk it being derailed by the Hong Kong bourse, Photo: Bloomberg

    LSE board set to meet for decision on HKEx bid: report

    Sep 13, 2019 9:19am
    The London Stock Exchange’s board will meet in coming days to decide on the Hong Kong bourse’s surprise US$39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured...
  • Low interest rates are good for economic growth, but one can’t say the same thing about negative rates, US Treasury Secretary Steven Mnuchin said. Photo: Bloomberg

    US to consider ultra-long Treasury bonds: Mnuchin

    Sep 13, 2019 9:15am
    The United States will issue 50-year government bonds if there is “proper demand”, and could also explore the possibility of 100-year debt, US Treasury Secretary Steven Mnuchin said on Thursday. “We are going to start with...
  • Following a slide in passenger numbers in the wake of the social disturbances in Hong Kong, Cathay is seeking to cut costs in various ways. Photo: Reuters

    Cathay Pacific freezes new hiring, to focus on cost cuts

    Sep 12, 2019 3:13pm
    Cathay Pacific Airways has put a freeze on new hiring as it battles a slump in demand from fliers avoiding Hong Kong amid the months-long civil unrest in the city, Reuters reports. In a memo to staff...
  • Tim Cook speaks at Apple’s annual fall event at the firm’s headquarters in Cupertino, California, on September 10. Photo: Reuters

    Apple’s fall event: It’s more than just about new iPhones

    - Sep 12, 2019 1:35pm
    Apple held its annual fall event on Tuesday, taking the lid off new products and services and aiming to generate excitement in the market ahead of the crucial holiday season.  As expected by many industry observers,...
  • Zozo’s founder Yusaku Maezawa will step down as CEO after selling most of his stake in the firm to Yahoo Japan. Photo: Reuters

    Yahoo Japan to buy control of online fashion retailer Zozo

    Sep 12, 2019 11:15am
    Yahoo Japan said on Thursday that it aims to buy 50.1 percent stake in online fashion retailer Zozo for about 400 billion yen (US$3.7 billion), Reuters reports. Zozo founder Yusaku Maezawa will sell around 30 percent...