Posts by Liam Redmond
DFI Retail’s Mannings shutters in mainland China
The beauty and wellness business intends to integrate its operations across Hong Kong and Macau [SINGAPORE] DFI Retail Group’s beauty and wellness business Mannings on Wednesday (Dec 17) announced the closure of all stores across mainland China, due to “consumer behaviour” changes. Its physical stores will stay open until Jan 15 next year, said Mannings…
Read MoreColiwoo disposes Pasir Panjang co-living space in S$43.9 million sale-and-leaseback deal
It will sell its 80% stake in Coliwoo PP, which owns and manages Coliwoo Hotel Pasir Panjang [SINGAPORE] Co-living operator Coliwoo has entered into a sale-and-leaseback agreement to dispose of a co-living hotel property in Pasir Panjang owned and managed by its subsidiary Coliwoo PP. It will sell its entire 80 per cent stake in…
Read MoreColiwoo disposes Pasir Panjang co-living hotel space in S$43.9 million sale-and-leaseback deal
Estimated net proceeds of S$15.3 million will be used to repay working capital loans owed to LHN Group and for general working capital purposes [SINGAPORE] Coliwoo has entered into a sale-and-leaseback agreement to dispose of a co-living hotel property in Pasir Panjang owned and managed by its subsidiary Coliwoo PP. The co-living operator and Globalpoint…
Read MoreHochul admin demands answers from Con Ed over warnings of 2026 blackouts: ‘I will not risk rolling outages’
ALBANY – New York’s electricity regulator is demanding Con Ed devise a plan to address the reliability of the Big Apple’s grid — after frightening concerns about the potential for blackouts came to light. The move follows stark warnings from the independent operator of the Empire State’s electric grid that increased electricity demand and decreasing…
Read MoreStoneweg Europe Stapled Trust divests office asset in Italy for 34 million euros
Following the divestment, the trust’s exposure to Italy will fall from 18% to 17% [SINGAPORE] The managers of Stoneweg Europe Stapled Trust (Sert) on Friday (Dec 19) said that it has entered an agreement to sell a non-core office property in Italy – Amba Aradam Rome (Maxima) – for a consideration of 34 million euros…
Read MoreStocks to watch: Stoneweg Europe Stapled Trust, Coliwoo
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Dec 19): Stoneweg Europe Stapled Trust (Sert) : The managers of Sert on Friday said that it has entered into an agreement to divest a non-core office property in Italy – Via Amba Aradam Rome – for a consideration…
Read MoreExclusive | Prince Harry injures his hand at Snow Polo in Aspen
Talk about a royal pain. Prince Harry hurt his hand while playing in Thursday’s St. Regis World Snow Polo Championship in Aspen, Colorado, a source tells Page Six. But we hear the Duke of Sussex soldiered on. A source tells Page Six Prince Harry hurt his hand at Snow Polo today. LaGOSSIPTV/ The Daily Stardust…
Read MoreNike’s China conundrum deepens as turnaround stagnates
Nike’s stock is down 13% so far this year, on track for a fourth straight year of declines [NEW YORK] Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 per cent drop in footwear – underscores…
Read MoreNike reports sales beat overshadowed by Converse, China slumps
NIKE posted better-than-expected sales in the latest quarter, showing progress in its turnaround efforts, but weakness persisted in China and the Converse brand. Revenue in the fiscal second quarter rose 1 per cent to US$12.4 billion, above the average of analyst estimates. Earnings per share also outpaced expectations. Direct-to-consumer sales missed expectations, however. The shares…
Read MoreTikTok says it signed agreements to create new US joint venture
TIKTOK chief executive officer Shou Chew told employees that the social media app’s parent company, ByteDance, signed binding agreements to create a US joint venture majority-owned by American investors. In an internal memo reviewed by Bloomberg, Chew said he was “pleased to share some great news” and said agreements with Oracle Corp, Silver Lake and…
Read MoreThank you, Cardinal Dolan, for your stalwart service to all New Yorkers
Timothy Cardinal Dolan won New Yorkers’ hearts from the start, with his inaugural Mass as archbishop invoking the heroes of 9/11 as he vowed to fight for “the dignity of every human person, the sanctity of human life, from the tiny baby in the womb.” He kept up that fight all these 16 years, however…
Read MoreInstacart to pay US$60 million to settle FTC claims it deceived shoppers
INSTACART has agreed to pay US$60 million in refunds to settle the US Federal Trade Commission’s allegations that the online grocery delivery platform deceived consumers about its Instacart+ membership and free delivery offers, according to court documents filed in San Francisco on Thursday. Instacart’s offer of “free delivery” for first orders was illusory because shoppers…
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