Business
Amazon Seeks to Delay Saks Global’s DIP Financing
Count Amazon as one more party that is feeling ripped off by Saks Global and its march into bankruptcy. The web giant, which has been…
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Business
Business
Alibaba takes major step to link Taobao shopping to main AI app
Alibaba Group Holding plans to link its flagship online shopping and travel services to its artificial intelligence (AI) app, taking its…
Business
Gold slips as profit-taking, softer geopolitical tone hit safe-haven demand
Gold slipped on Thursday (Jan 15) as investors booked profits after three consecutive sessions of record highs, while an apparent softer…
Business
Wells Fargo misses profit estimates on severance costs, shares fall
WELLS Fargo missed analysts’ profit estimates in the fourth quarter on Wednesday, after it booked US$612 million in severance expenses as…
Business
Bank of Korea stands pat as board wary of weak won, property market rally
South Korea’s central bank left its benchmark interest rate unchanged in a widely expected move, as authorities monitor the weakening won…
Business
KKR Asia credit fund draws 75% new investors as decoupling rises
The optimism around Asian private credit runs counter to a broader global pullback KKR raised three-quarters of its US$2.5 billion Asia…
Business
China brokers rebuild ranks, raise pay on dealmaking return
CHINA’S biggest securities firms are back on the offensive after taking a battering over the past few years. Investment banking divisions…
Business
UOB prices S$850 million perpetual securities at 3%
UOB has priced S$850 million in perpetual capital securities at 3 per cent under its US$30 billion Global Medium Term Note Programme, the…
Business
Meta begins job cuts as it shifts from metaverse to AI devices
Reality Labs houses the company’s hardware and other futuristic product efforts Meta Platforms is beginning to cut more than 1,000 jobs…
Business
Can Saks Global Be Fixed?
Geoffroy van Raemdonck and team are on a rescue mission. And they’re going to have to move fast and step right if they want to succeed in…
Business
TSMC likely to post fourth-quarter profit leap driven by AI boom
TSMC, the world’s largest manufacturer of advanced artificial intelligence chips, is expected to post a 28 per cent jump in fourth-quarter…
Business
Renaming the Department of Defense the 'Department of War' could cost up to $125 million
Renaming the Department of Defense the Department of War could cost U.S. taxpayers as much as $125 million depending on how broadly and…
Business
SK Hynix speeds up new chip fab opening to meet memory demand, executive says
SK Hynix plans to accelerate the opening of a new factory by three months and will also begin operating another new plant in February, a…
Business
Europe’s Stoxx 600 ends at record high, lifted by healthcare, chemical stocks
EUROPEAN shares closed at a record high on Wednesday, buoyed by gains in chemicals and healthcare stocks, while investors also monitored…
Business
U.S. Vendors Express Relief and Optimism as Saks Global Restructures Under New Leadership
Vendors let out a sigh of relief Wednesday following the long-awaited bankruptcy of Saks Global, and were glad that there’s finally a…
Business
Prime Matter Labs Acquires Mana Products
Mana Products has been acquired. The New York-based contract manufacturer, which reportedly furloughed its employees and went dark on…
Business
CBS Shares Update on Minnesota ICE Shooting—With Huge Red Flag
Need any more proof that CBS News is being transformed into a mouthpiece for Donald Trump’s administration? Look no further than its…
Business
House passes spending bill for foreign aid and financial services
The House on Wednesday passed a two-bill, $77 billion spending package funding foreign aid and financial services agencies. Source link
Business
SpaceX offers free Starlink access to Iranian demonstrators amid Internet blackout
Iranian demonstrators’ ability to get details of bloody nationwide protests out to the world has been given a strong boost, with SpaceX’s…
Business
Why is Meta laying off workers again?
Social media giant Meta said it’s cutting more than 1,000 workers and closing several content studios as it focuses its efforts on…
Business
Bilt 2.0’s low-interest premium card takes on Chase Sapphire Reserve—with mortgage and rent rewards
As Americans struggle with an affordability crisis—high inflation and an even higher cost of living, especially when it comes to…
Business
Tesla puts ‘Full Self-Driving’ mode behind a monthly paywall
If you’re sick of paying for subscription services, Tesla has some bad news for you. The EV maker announced Wednesday that going forward,…
Business
Why “becoming Chinese” is taking over social media
“I see a bunch of Americans drinking hot water with lemon and honey, eating congee, drinking hot pot, drinking more soup, eating Chinese…
Business
Mane Acquires Belgian Biotech Company
PARIS — French flavor and fragrance supplier Mane Group has acquired Belgian biotech company ChemoSensoryx Biosciences. Financial terms of…