AngloGold back into black
AngloGold Ashanti Ltd swung to a first-half profit after costs declined and output rose as the world’s third-largest gold producer prepares for a change in leadership. AngloGold reported adjusted headline earnings, which exclude some one-time items, of US$85 million for the six months through June, compared with a loss of US$93 million in the same period last year. Net debt dropped 17 percent year-on-year, to US$1.79 billion, the company said. So-called all-in sustaining costs fell 5 percent to US$1,020 per ounce and production from retained operations rose 4 percent. For the full year, AngloGold has forecast all-in sustaining costs of US$990 to US$1,060 an ounce and production of 3.33 million to 3.45 million ounces.
AirTrunk raises US$621m
Goldman Sachs Group Inc-backed AirTrunk has raised A$850 million (US$621 million) to fund the expansion of its two Australian datacenters and a move into Asia to take advantage of a growing cloud computing market. AirTrunk is taking advantage of a surge in cloud computing as companies that once ran in-house servers shift storage and processing off-site. AirTrunk provides its clients with the physical space, Internet connections, power and cooling for their own servers. The bulk of the money raised in loans, about A$750 million, is to be spent expanding its current facilities in Sydney and Melbourne, AirTrunk founder Robin Khuda said.
Rocket CFO leaving firm
Rocket Internet SE CEO Oliver Samwer will take on chief financial officer (CFO) duties from October, with Peter Kimpel, the CFO who oversaw the German Internet company’s 2014 initial public offering, departing the business. Kimpel is to leave that month to pursue a new management challenge, the Berlin-based company said in a statement yesterday, without giving further details. The former Goldman Sachs Group Inc banker joined Rocket Internet four years ago ahead of its initial listing and has helped it become known as one of Germany’s few successful Internet companies. His departure puts more responsibility in the hands of Samwer, who started the company with his brothers Marc and Alexander.
Dota 2 pool nears US$25m
Multiplayer online battle game Dota 2’s marquee event has broken its own record for the biggest prize pool in e-sports history with a purse approaching US$25 million. “The International” surpassed last year’s total of US$24,787,916 on Sunday night, marking the sixth straight year of increasing prize pools since the tournament moved to a crowd-funded format in 2013. Fans boost the tournament pot via in-game microtransactions, with Dota 2 developer Valve Corp also supplying US$1.6 million in prize money.
PepsiCo to buy SodaStream
PepsiCo yesterday said that it plans to buy SodaStream, an Israeli maker of carbonation products, for US$3.2 billion as the beverage and snacks giant makes further inroads with in-home goods. The cash deal would see PepsiCo pay US$144 per share for SodaStream’s outstanding stock, a 32 percent premium over its average price of the past 30 days. While the boards of directors of both companies have approved the deal, it is still subject to a SodaStream shareholder vote, regulatory approvals and other conditions, PepsiCo said. PepsiCo last year had US$63 billion in revenue.
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
’WHITE BOX’: The open platform would give local firms access to Cisco’s cloud-based mobile network to develop 5G telecom equipment and tap into the global market The Ministry of Economic Affairs (MOEA) yesterday introduced a new 5G “open lab” in collaboration with US-based information technology and networking giant Cisco Systems Inc to address the rapidly growing “white box” 5G networking equipment market. The open lab will be a platform where Taiwanese manufacturers can access Cisco’s cloud-based mobile network to develop their own 5G telecom equipment, such as small-cell base stations, network switches, modems and Internet of things (IoT) devices, a ministry statement said. The open platform would allow Taiwanese manufacturers to tap into the lucrative 5G telecom equipment market, which was previously monopolized by Nokia Oyj, Ericsson AB
Nintendo Co is raising its target for Switch production to about 25 million units this fiscal year, people familiar with the matter said, as the ongoing COVID-19 pandemic keeps lifting demand and component shortages ease. The Kyoto, Japan-based company, which in April hiked orders to 22 million units by March next year, is asking partners to tack on another few million units, said the people, who did not want to be identified discussing internal goals. Assembly partners plan to work at maximum capacity through December. The new production target suggests that Nintendo is likely to outperform its Switch sales forecast of 19 million
‘BIG LOSS’: This year might see the last generation of Huawei’s Kirin chips, as their production would stop next month because they are made using US technology Chinese tech giant Huawei Technologies Co (華為) is running out of processor chips to make smartphones due to US sanctions and would be forced to stop production of its own most advanced chips, a company executive has said, in a sign of growing damage to Huawei’s business from US pressure. Huawei, one of the biggest producers of smartphones and network equipment, is at the center of US-Chinese tension over technology and security. Washington last year cut off Huawei’s access to US components and technology, and those penalties were tightened in May, when the White House barred vendors worldwide from using US