Friday, April 29, 2022

Business

Apple sees bigger supply problems after strong start to year

Chief financial officer Luca Maestri warns that the war in Ukraine, which led Apple to stop sales in Russia, will leave a bigger dent on sales in the fiscal third quarter.

Amazon reports rare quarterly loss, sees ‘challenges’ ahead

Sales at the online retail colossus were in line with analyst expectations, but chief executive Andy Jassy warned of testing times in the months ahead.

Twitter sticks with ambitious targets despite earnings miss

For the full year 2021, the group's revenue came in at US$5.08 billion and was US$1.57 billion in the quarter, slightly below analyst expectations.

Singapore state fund buys UK tech firm for US$7 billion

Temasek says the deal to buy Element Materials Technology would enable it to offer customers more environmentally-friendly product solutions.

Pandemic darlings face the boot as investors eye return to normal life

Life is returning to something approaching normality in many countries, leaving companies like Netflix and Peloton struggling to sustain high sales figures.

China’s debt-crippled Evergrande defaults for first time

Fitch also declared Kaisa, a smaller property company but one of China's most indebted, had defaulted on US$400 million of bonds.

Grab’s Nasdaq debut to set tone for regional listings

The backdoor listing on Nasdaq marks the high point for the Singapore company that began as a ride-hailing app and now operates across 400 cities in eight countries.

Grab’s third quarter takes a hit from virus curbs

Grab's mobility business brought in US$88 million in revenue, down 26% from a year earlier, while sales at its deliveries unit rose 58%.

Uniqlo operator Fast Retailing posts record net profit

Fast Retailing says business has 'recovered markedly' as infections are contained around the world, including a sharp recovery in sales in Europe and North America after virus lockdowns were lifted.

China property shares slide as Evergrande crisis reverberates

Evergrande, which has more than US$300 billion in liabilities and 1,300 real estate projects in over 280 cities, missed a third round of interest payments on its international bonds this week.

Toyota cuts production target on parts and chips shortages

The Japanese carmaker now expects to build nine million vehicles in the year to March 31, rather than 9.3 million.

Australia, Malaysia, Singapore and South Africa launch cenbank digital currency scheme

The project will allow allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks.

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