News
Saks mulls bankruptcy year after raising billions for turnaround
SAKS Global Enterprises, facing limited options ahead of a more than US$100 million debt payment due at the end of this month, is considering Chapter 11 bankruptcy as a...
Electronic Arts shareholders approve US$55 billion sale to Saudis
ELECTRONICS Arts shareholders approved the US$55 billion sale of the company, a leading video-game publisher, in a deal led by Saudi Arabia’s Public Investment Fund. Investors in the Redwood City,...
US bars approvals of new models of DJI, all other foreign drones
DJI, the world’s largest dronemaker, sells more than half of US commercial drones[WASHINGTON] The Federal Communications Commission said on Monday it is adding China’s DJI, Autel and all foreign-made...
European shares muted at start of holiday-shortened week
EUROPEAN shares were little changed on Monday, with beverage stocks weighing on the index, as investors navigated a holiday-shortened week on a tepid note after a record close in the previous...
Telefonica to cut 5,500 jobs with total cost of 2.5 billion euros
The Spanish carrier has signed an agreement with unions to implement the exit plans[MADRID] Telefonica will book a cost of 2.5 billion euros (S$3.8 billion) to pay for the...
Ever Glory United to move to SGX mainboard on Dec 29; public offer 7.6 times subscribed
[SINGAPORE] Catalist-listed engineering services provider Ever Glory United will transfer to the mainboard of the Singapore Exchange (SGX) on Dec 29. Trading in its shares on the mainboard will...
HTC bets its open AI strategy to drive smart glasses sales
The glasses support multiple platforms, letting users benefit from improvements by various models[TAIPEI] Taiwan’s HTC is betting its open platform strategy will allow it to build market share in...
HSBC hires ex-Citi executive Ida Liu to lead its private bank
[LONDON] HSBC Holdings has hired former Citigroup executive Ida Liu to run its global private banking business, according to people familiar with the matter. Liu replaces Gabriel Castello, who...
Chinese AI firm MiniMax to launch Hong Kong IPO in early January
The firm develops multimodal AI models which can process text, audio, images, video and music[HONG KONG/BEIJING] Chinese artificial intelligence (AI) firm MiniMax is seeking to launch a Hong Kong...
China to scrub small overdue debts from credit records to help spur lending
[BEIJING] China’s central bank on Monday unveiled a one-off credit repair scheme to allow overdue personal debts of up to 10,000 yuan (S$1,835) incurred since 2020 to be removed...
