In a last-ditch effort to clinch a deal both companies consider vital, Western Digital Corp plans to raise its offer for Toshiba Corp’s prized semiconductor unit to $18 billion or more, reported the media quoting sources familiar with the matter. A consortium led by a Japanese government-backed fund include the U.S. chipmaker. The last day…
According to Deutsche Bank, while shares in export-oriented U.K. companies could see a further rally, in the wake of the shock hung parliament result in the country’s general election, shares of U.K. companies focused on the domestic market could tumble. As soon as it was suggested that incumbent Prime Minister Theresa May and her Conservative…
Led by Cathay Pacific Airways Ltd.’s strongest gain in six years, shares of Chinese carriers surged Thursday. Just a sliver off record highs and rising 24 percent in a year is the Bloomberg World Airlines Index. And under siege for years by their unlisted rivals in the Persian Gulf have been the members of the…
As Citigroup Inc. seeks to boost its base of affluent customers in the region by at least 10 percent this year, the bank is expanding its digital-banking channels in Asia. According to Gonzalo Luchetti, Citigroup’s Singapore-based head of Asia-Pacific retail banking, deployment of technologies that allow customers to make transactions through its Internet and mobile platforms…
Established flag carriers have been forced to set up budget subsidiaries or lower fares and a club of major airlines meeting in Mexico this week were shaken by low-cost, long-haul air travel which has taken off across the Atlantic. According to data from air travel intelligence company OAG, budget carriers are trying to grab a…
Construction of one of the largest greenfield thermal coal developments approved in recent years, have been decided to be started by India’s Adani Group. However, controversy over the level of public subsidies that should be offered to the Carmichael coal, rail and port project, which could cost as much as A$16.5bn (US$12.4bn) to complete, has…
In order to facilitate the use of renewable energy like solar to charge electric vehicles in the country, SoftBank Group is in talks with the Indian government, reported the media quoting a senior executive at the Japanese group’s local unit. In a plan that could boost SoftBank’s solar ambitions in the country if the government…
Paul Polman, CEO of Unilever said in a television interview that the counter-intuitive effect of speeding the pace of meeting environmental goals would be a result of U.S. President Donald Trump’s decision to abandon the Paris climate pact. “You see groups of mayors, states, the business community, civil society really accelerating its pace of implementation,” Polman…
There can be a shortage of steel for the world’s top steelmaker. A shortfall of the key product helps to explain a divergence between the price of the commodity it digs up with the alloy it’s made into, says iron ore miner Fortescue Metals Group Ltd., and it adds that China has a lack of rebar.…
Some countries are likely already eyeing the positives from the move, experts said, even as U.S. President Donald Trump’s decision to exit an international climate agreement sparked outrage from many quarters. “This opens up opportunities for other countries to occupy the power vacuum that the U.S. is leaving when it pulls out of these sorts of agreements,” said director…
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