By Anton Bridge TOKYO (Reuters) – WeWork’s $3 billion debt for equity swap deal with its creditors marks the latest effort by top shareholder SoftBank to revive the troubled office-space provider and recoup some of the billions it has invested. Whether the bet succeeds now depends on WeWork renegotiating the costly long-term leases it signed …
SoftBank makes another bet on WeWork, hoping landlords will too Read More »
By Makiko Yamazaki TOKYO (Reuters) – Sumitomo Mitsui Financial Group (SMFG) said on Tuesday it would post an after-tax loss of $560 million from the sale of its U.S. freight car leasing unit as the Japanese lender embarks on a portfolio review for better capital efficiency. Japan’s No. 2 banking group said in a statement …
Japan’s SMFG logs $560 million loss on sale of US freight car leasing unit Read More »
TOKYO (Reuters) – Japan’s real wages slipped in September for an 18th month, while consumer spending extended a months-long decline, with rising prices squeezing households’ purchasing power, and likely to add to pressure from labour groups for higher wage increases. Financial markets worldwide pay close attention to the wage trends in the world’s third-largest economy. …
Japan’s wages, consumer spending extend declines in test for BOJ policy Read More »
(Reuters) – Japanese drugmaker Eisai said on Tuesday it was targeting revenue of 10 billion yen ($66.5 million) from its recently approved Alzheimer’s drug, Leqembi, by March 2024. The company said the launch of Leqembi in the United States was progressing as planned and that 10,000 patients were expected to be on the drug by …
Eisai expects Alzheimer’s drug to rake in revenue of $66.5 million by March Read More »
By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) -The Philippine central bank said on Tuesday it was prepared to take further monetary policy action if needed to anchor consumer price expectations even as inflation eased for the first time in three months in October. The consumer price index rose 4.9% in October, less than …
Philippines central bank ready to act if needed despite slower inflation Read More »
(Reuters) – China will have more than 80% of the world’s solar manufacturing capacity through 2026 and will be capable of satisfying annual global demand for much of the next decade, according to a report published on Tuesday. The forecast by energy research firm Wood Mackenzie comes as nations like the United States and India …
China will dominate solar supply chain for years -Wood Mackenzie Read More »
DHAKA (Reuters) -Bangladesh will raise the minimum wage for garment workers by 56.25%, the first hike since 2019, the junior labour minister said on Tuesday after a week of protests calling for higher salaries. The minimum wage for workers will be increased from 8,000 taka to 12,500 taka ($114) per month from Dec. 1, State …
Bangladesh hikes minimum wage for garment workers after protests Read More »
By Julian Luk and Mai Nguyen (Reuters) -Chile’s Codelco cut the premium for selling copper to its biggest Chinese clients by 36% for next year and is trying to fix it in a way that would guarantee its revenues, three sources with knowledge of the matter said this week. Codelco, the world’s largest copper producer, …
Codelco cuts 2024 copper premium to China, changes contract structure -sources Read More »
By Selena Li HONG KONG (Reuters) -Top global banking chiefs on Tuesday said they are concerned the financial sector’s next crisis may come from rising geopolitical uncertainty which could test financial market resiliency, while the industry remains vulnerable to regulatory tightening. The trigger for the next global financial crisis is likely to come from the …
Banking chiefs say market vulnerable to ‘geopolitical escalation’, regulatory push Read More »
By Yantoultra Ngui SINGAPORE (Reuters) – Columbia Asia, a Southeast Asian healthcare firm backed by TPG, has emerged as the frontrunner to buy Malaysia-based private hospitals operator Ramsay Sime Darby Health Care for around $1.5 billion, said two sources with direct knowledge of the matter. The acquisition will be the largest Southeast Asian healthcare acquisition …
