Business
Bain Capital to sell China data centre business likely valued at over US$4 billion: sources
US investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value…
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Business
Emirates airline group announces record US$6.2 billion gross profit
The 18% rise in profit, slimmed to US$5.6 billion after the UAE’s recently introduced corporate tax Dubai’s Emirates Group, which includes…
Business
Wall Street banks said to steer clear of Chery’s US$1.5 billion Hong Kong IPO
One of this year’s biggest listings is coming together in Hong Kong without the involvement of Wall Street banks. Chery Automobile’s…
Business
ServiceNow eyes US$1 billion revenue for AI product by 2026
The company makes software applications that help companies organise and automate their personnel and information technology operations…
Business
CATL starts gauging interest for potential US$5 billion Hong Kong listing
The company is barrelling ahead with the offering in spite of the turbulent markets that have been whipsawing on the back of US President…
Business
Changi Airport Terminal 5 contracts worth S$4.75 billion awarded
Changi Airport Group (CAG) announced on Monday (May 5) that contracts of around S$4.75 billion in value for substructure and airside…
Business
Saudi Arabia reports first-quarter deficit of US$15.65 billion
Declining oil prices and voluntary production cuts have weighed on Saudi revenue in recent years Saudi Arabia’s deficit widened…
Business
GM slashes guidance with up to US$5 billion hit from tariffs
General Motors cut its full-year profit outlook citing as much as US$5 billion of exposure to auto tariffs, among the biggest financial…
Business
Telegram weighs US$2 billion bond sale to refinance 2021 debt
[DUBAI/LONDON] Telegram is holding investor meetings about a bond sale worth about US$2 billion as the social media app seeks to refinance…
Business
Amazon to invest US$4 billion to expand rural delivery network in US
The investment will grow its rural delivery network to more than 200 delivery stations and create 100,000 jobs, the company says…
Business
Chinese sovereign fund CIC to sell US$1 billion of US private equity investments: sources
Chinese sovereign investor China Investment Corporation (CIC) is selling about US$1 billion of its private equity (PE) investment…
Business
Volvo Cars to cut costs by 18 billion Swedish crowns as earnings drop
Sweden-based Volvo Cars launched cost cuts of 18 billion Swedish crowns (S$2.4 billion) on Tuesday (Apr 29) as its operating profit fell…
Business
HSBC Q1 profit drops 25%; launches US$3 billion share buyback
launched a US$3 billion share buyback after reporting a 25 per cent fall in first-quarter profit on Tuesday due to one time charges…
Business
China’s Sinopec partners with Saudi Aramco’s unit in 29 billion yuan JV
China’s state-run Sinopec said on Monday (Apr 28) it had signed an agreement with a unit of Saudi Aramco to establish a joint venture…
Business
China’s Sinopec partners with Saudi Aramco’s unit in 28.8 billion yuan JV
China’s state-run Sinopec said on Monday (Apr 28) it had signed an agreement with a unit of Saudi Aramco to establish a joint venture…
Business
Tencent Music in talks to buy Ximalaya for US$2.4 billion
Tencent Music Entertainment Group is in advanced talks to buy Chinese podcasting startup Ximalaya in a US$2.4 billion deal that would…
Business
Toyota chairman proposes record buyout of its supplier at US$42 billion valuation
Toyota Motor chairman Akio Toyoda has proposed a buyout of supplier Toyota Industries, people familiar with the matter said, seeking to…
Business
JD.com’s delivery clash with Meituan may worsen US$70 billion rout
While much of the world is focused on a volatile international trade war, two of China’s largest Internet companies are inflicting greater…
Business
Google says will buy back US$70 billion in shares, posts earnings beat
[BENGALURU/SAN FRANCISCO] Google parent Alphabet said it would buy back US$70 billion worth of shares as it reported first-quarter profit…
Business
Nissan sees 750 billion yen loss as restructuring charges mount
Nissan Motor said it will post a net loss of as much as 750 billion yen (S$6.9 billion) for the fiscal year that ended in March as…
Business
Huawei raises record 20 billion yuan in Chinese debt issuance spree
The parent of Huawei Technologies is tapping low borrowing costs in China’s credit market to raise a record amount of debt, as trade…
Business
Marina Bay Sands Q1 revenue holds steady at US$1.2 billion amid strong operating environment
Net revenue for Marina Bay Sands (MBS) remained steady at around US$1.2 billion for Q1, with the business improving service offerings and…
News
Brazilian police probe a pension fraud scheme that stole $1 billion from retirees
SAO PAULO (AP) — Brazil 's federal police said Wednesday they are investigating a scheme that diverted over 6 billion reais ($1.05…
Business
Boeing to sell Jeppesen unit to Thoma Bravo for US$10.55 billion
Boeing said on Tuesday (Apr 22) it would sell portions of its Digital Aviation Solutions business, including navigation unit Jeppesen, to…