Netflix Restructures Film Group As it Scales Back Movie Output – Bloomberg News
Video streaming service Netflix Inc (NASDAQ:NFLX) is restructuring its film group, which will result in layoffs and the departure of two of its most experienced executives, Bloomberg reported on Thursday. As part of the restructuring, Netflix will combine small and midsize picture productions units, resulting in a few job cuts, and scale back the company’s […]
Miki House Taps ‘Made in Japan’ Appeal For $760 Kids Pyjamas As Home Market Shrinks
Japan’s Miki House, a maker of luxury baby and children’s goods in a country with ever-fewer births, is looking overseas for both production and customers for products like its 100,000 yen ($760.40) Gold Label brand pyjamas. President Koichi Kimura said the Osaka-based company, which has developed a global reputation based on Japanese technology and quality, […]
Alibaba’s Hong Kong Shares jump Nearly 15% on Six-Way Split Plans
Alibaba Group’s Hong Kong shares rose sharply on Wednesday, tracking an overnight jump in its American stock after the e-commerce giant said it plans to split into six units, with potential fundraising and listings for most of them. The stock (HK:9988) rose 13.5% to an over one-month high of HK$95.55 shortly after the open, and […]
Gold Prices Dip From $2,000, Banking Crisis in Focus
Gold prices retreated on Monday as traders locked in profits after a strong run of gains, but remained near key levels hit last week as fears of a global banking crisis kept safe haven demand high. Bullion prices surged to the over $2,000 last week amid concerns over the next domino to fall among U.S. […]
Apple CEO Praises China’s innovation, Long History of Cooperation on Beijing Visit
Apple (NASDAQ:AAPL) CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. Apple CEO Tim Cook on Saturday used his first public remarks in China in recent years […]
Financial Turbulence Widens Door to Private Equity in Fast-Growing Aerospace Sector
Financial sector headwinds are creating fresh openings for private equity investments in aerospace, as suppliers’ need for capital to meet soaring demand for planes and parts risks further turbulence, executives said. Demand from aircraft manufacturing giants has soared on the back of surging global air travel following a pandemic-induced slump. Some of their suppliers rely […]
Chinese Tech Stocks Rise, Tencent Surges On Strong FY Results
Major Chinese technology stocks rose on Thursday, with shares of Tencent up sharply after the internet giant logged stronger-than-expected annual earnings, while less hawkish signals from the Federal Reserve also aided sentiment. Tencent Holdings Ltd (HK:0700) rose over 6% to HK$368.40 a share, and was set for its best day since early-March, as easing COVID […]
Chinese Tech Stocks Rise, Tencent Surges On Strong FY Results
Major Chinese technology stocks rose on Thursday, with shares of Tencent up sharply after the internet giant logged stronger-than-expected annual earnings, while less hawkish signals from the Federal Reserve also aided sentiment. Tencent Holdings Ltd (HK:0700) rose over 6% to HK$368.40 a share, and was set for its best day since early-March, as easing COVID […]
Asia FX Surges, Dollar Sinks on Fed’s ‘Dovish Hike’
Most Asian currencies rose sharply on Thursday, while the dollar fell to a seven-week low after the Federal Reserve raised interest rates but hinted at a potential pause in its tightening cycle, although rates are likely to remain higher for longer. China’s yuan surged 0.7%, while the South Korean won was the best performer for […]
Dollar Subdued Ahead of Fed Decision; Sterling Rise on CPI jump
The U.S. dollar traded near five-week lows in early European trade Wednesday ahead of the latest Federal Reserve interest rate decision, while surprisingly strong U.K. inflation data lifted the pound. At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 102.825, just […]