LONDON: A boom in corporate dealmaking, surging input costs and a focus on short-term cash flows in the pandemic have sent companies rushing to hedge their currency exposures this year, giving a boost to banks that sell foreign exchange products. Corporate treasurers say the pandemic, which sent revenues tanking in […]
Business
MELBOURNE : Australia’s coal mines are at risk of becoming stranded assets under three out of four scenarios that consider how the global energy transition will unfold, according to a report by the country’s central bank. Australia is the world’s biggest exporter of coal and liquefied natural gas, with fossil […]
TOKYO: Some clothing releases at Uniqlo stores will be delayed due to COVID-19 lockdowns at partner factories in Vietnam, Uniqlo’s Japanese parent firm Fast Retailing said on Thursday. The delays will affect four items of the company’s Uniqlo U brand which were due to be released in Japanese stores in […]
ST. LOUIS : When night fell, a clerk at a bustling 24-hour MotoMart flipped a switch from behind the counter. Electromagnetic locks sealed the doorway. A window sign, now illuminated in red, warned “facial recognition technology in use” and directed customers to “look up at the camera.” On this recent […]
SEOUL : South Korea’s Hyundai Motor Co plans to use an auto chip it has developed itself for one of its upcoming vehicles next year, the Seoul Economy Daily reported on Friday. Hyundai Motor, which together with affiliate Kia Corp is among the world’s top 10 biggest automakers by sales, […]
PARIS: Former French prime minister Francois Fillon, who is appealing a five-year jail sentence for embezzling public funds, is under investigation again by financial prosecutors over payments to an assistant, his lawyer said today. Lawyer Antonin Levy accused the National Financial Prosecutor’s (PNF) office of a witch hunt and said […]
TOKYO : Japan’s trade ministry is ready to back Western Digital’s bid to merge with memory chipmaker Kioxia provided control of cutting edge technology stays in Japan, two sources with knowledge of the industry regulator’s internal discussions said. The tie-up could give Japan greater leverage in geopolitical rivalries increasingly dominated […]
Facebook has told that it took part in an effort to help 175 citizens leave Afghanistan after the Taliban took control of the country. The company said some staff members were also on the flight to Mexico City. The Mexican government confirmed the flight was carrying activists and independent journalists […]
TOKYO : The Bank of Japan must avoid reducing stimulus even if rising raw material costs push up inflation, deputy governor Masazumi Wakatabe said, reinforcing expectations it will fall behind major counterparts in dialling back crisis-mode policies. An advocate of aggressive monetary easing, Wakatabe also said the BOJ was unlikely […]
SEOUL : The U.S. Treasury Department said the acquisition of Magnachip Semiconductor Corp by a Chinese private equity firm posed “risks to national security”, in another hurdle for Chinese companies trying to invest abroad in critical tech industries. In March, Chinese private equity firm Wise Road Capital agreed to acquire […]