ACHIEVABLE GOAL: The department store chain said in the first five months of the year it had already recorded a 15 percent annual increase in sales
Shin Kong Mitsukoshi Department Store (新光三越百貨) yesterday said it aims to grow its business 20 percent annually in the mid-year sales season, as people regain interest in in-person shopping activities.The mid-year sales season begins on Thursday and runs through June 25 to keep buying interest alive
Venture capital powerhouse Sequoia Capital is breaking into three entities, splitting its Chinese and US operations as tensions grow between the world’s two largest economies.The firm, known for its early backing of Google, Instagram and some of China’s biggest Internet companies, plans to split up
The EU yesterday agreed to create a trade tool aimed at punishing countries that seek to put pressure on one of its member countries, after China targeted Lithuania.The new weapon would allow the 27-nation bloc to impose tariffs, restrict investment and limit access to public contracts for nations s
People wanting a New York hotel near a Christmas market, a vegan restaurant or any another attraction need look no further than artificial intelligence (AI) from Alphabet Inc’s Google at Priceline as early as this summer, the companies said.The online travel agency, part of Booking Holdings Inc, aim
A model presents a creation designed by Escola de Divines and made from recycled railway company uniforms, during a fashion show marking World Environment Day at Central do Brasil train station in Rio de Janeiro on Monday.
BLACKOUTS: Searing summer temperatures are straining the nation’s power grid and thousands of factories have been forced to curb their consumption of electricity
Vietnam’s northern province of Bac Giang, home to suppliers for Apple Inc and other global electronics companies, has promised daytime power to factories as blackouts sweep the nation.Outages have hit industrial parks in some northern provinces including Bac Giang and Bac Ninh, state utility Vietnam
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, on Monday issued a statement about the balanced life environment it provides its employees, in response to a Fortune article at the weekend in which several former and current employees in the US were quoted c
People gather at an electronics store to purchase fans during a nationwide heat wave in Dhaka, Bangladesh, yesterday.
ELECTRONICSHon Hai pay date unveiledKey iPhone assembler Hon Hai Precision Industry Co (鴻海精密) yesterday said it plans to distribute a cash dividend to shareholders on July 28. At the company’s annual general meeting on Wednesday last week, shareholders approved the company’s proposal to distribute a
SCRUTINIZED: The commission has accused Binance, the world’s largest asset trading platform, of mishandling funds and breaking securities rules, amid a flurry of allegations
The US Securities and Exchange Commission’s (SEC) lawsuit against crypto exchange Binance Holdings Ltd (幣安) and its cofounder and CEO Zhao Changpeng (趙長鵬) injects fresh uncertainty into a sector that is struggling to maintain mainstream relevance.The SEC accused Binance and Zhao of mishandling custo
Apple Inc on Monday unveiled a long-rumored headset that would place users between the virtual and real world, while also testing the technology trendsetter’s ability to popularize new-fangled devices after others failed to capture the public’s imagination.After years of speculation, Apple CEO Tim C
INCENTIVES OFFERED: The updated 274-page strategy said Tokyo expects the TSMC and Kioxia projects to raise Japan’s GDP by ￥4.2 trillion and create about 463,000 jobs
The Japanese government has revamped its chip strategy with a goal of tripling sales of domestically produced semiconductors to more than ￥15 trillion (US$107.7 billion) by 2030, as the nation centers chips at the heart of its economic security policy.The revised strategy, released yesterday, aims t
Australia’s central bank yesterday hiked interest rates to an 11-year high and warned that further increases might be on the horizon to get surging prices under control.The Reserve Bank of Australia lifted the key rate 25 basis points to 4.1 percent, its highest level since May 2012, with Governor P
Morgan Stanley aims to move to a new office in Singapore, seeking a bigger space in the financial district to accommodate its expansion.The US firm is in advanced discussions for five floors at the upcoming IOI Central Boulevard Towers, which would give it certain signage rights, people familiar wit
TECHNOLOGYIntel to cut Mobileye stakeIntel Corp plans to sell part of its holdings in Mobileye Global Inc, to raise about US$1.48 billion for its ambitious spending plans. The US company is offering 35 million shares with an option to sell a further 5.25 million shares of the Israeli automated drivi
WEAK PROSPECTS: The contract electronics manufacturer expects revenue to drop this quarter due to product transitions and a high comparison base a year earlier
Hon Hai Precision Industry Co (鴻海精密), a major iPhone assembler, yesterday posted a second straight monthly growth in revenue to NT$45.07 billion (US$1.47 billion) last month, thanks to a pickup in smartphone demand.Last month’s revenue marked its best performance since January. On an annual basis, s
LCD panel maker AUO Corp (友達) yesterday said that customers have stepped up buying in preparation for new television or notebook computer launches in the second half of this year or next year after supply chain inventories recovered to healthy levels.With demand for inventory rebuild emerging, price
Community movie theater Star Cinema (新民生戲院) and adjoining storefronts are to be auctioned off next month with a floor price of nearly NT$200 million (US$6.52 million), as their property owner, Shin Kong Life Insurance Co (新光人壽), seeks to revitalize old assets, bid organizer Colliers International Ta
Apple Inc was yesterday expected to show off a pricey mixed-reality headset at its annual Worldwide Developers Conference, challenging Facebook owner Meta Platforms Inc in a market that has yet to sizzle.The iPhone maker has remained mum on reports that it is poised to unveil a headset for augmented
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