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Grab to cut 5% of workforce amid Covid-19 pressures
SUPER-APP player Grab will be laying off about 360 employees - representing just under 5 percent of its workforce - due to financial pressures arising from the Covid-19 pandemic.
World
Uber agrees to acquire Postmates in a $2.65 billion deal
Uber has agreed to acquire Postmates in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter.
Tencent buys Southeast Asian streaming platform Iflix
Chinese entertainment titan Tencent said it has purchased Southeast Asian streaming service Iflix to extend the reach of its own streaming platform WeTV into the region.
SoftBank CEO Masayoshi Son Quits Alibaba Board
Softbank announced in May that Alibaba’s Jack Ma would step down from its board
- U.S. forced labor laws strain China-dependent garment supply chains 1
- Southeast Asia's internet economy growth to slow in 2023 2
- Southeast Asia's fintechs fill lending gap with data 3
- Thai, Singapore tech firms surge in market value 4
- Global rice supplies tighten after India's July export ban 5
- Domino effect: India rice export ban puts market on edge for copycat curbs 6
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J&J loses bid to overturn baby powder verdict, but damages cut to $2.1 billion
Johnson & Johnson faces more than 19,000 lawsuits claiming that its talc products caused cancer because of contamination from asbestos.
Jio Platforms raises nearly $14bln in 2 months
Jio Platforms, the digital services arm of Indian conglomerate Reliance Industries, has now raised a total of $13.7 billion across 10 deals in a little less than two months.
U.S. firms can work with Huawei on 5G and other standards
U.S. firms can work with Huawei on setting standards for next-generation technologies, the Department of Commerce said Monday.
BP takes $17.5 billion write-down, expects oil price to stay low
The coronavirus pandemic has forced the oil major to take the largest write-down in the industry in years.
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UK economy contracted by 20.4% in April, the largest monthly fall on ...
The U.K. posted the biggest monthly fall in GDP (gross domestic product) in the country’s history in April, according to the Office for National Statistics.
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Tech’s big five lost nearly $270 billion in value in Thursday’s market ...
The five most valuable tech companies lost more than $269 billion in value on Thursday, the worst day for U.S. stocks since March.
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SoftBank's $100bn Vision Fund to shed 15% of staff
SoftBank Group's $100 billion Vision Fund is shedding 15% of its staff following the investment vehicle's aggressive bets on startups that wiped $16.7 billion off its value, Nikkei has learned.
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Japan's Fujifilm to spend $928 million to double capacity of Danish drug ...
Fujifilm Holdings will spend $928 million to double capacity at a drug manufacturing facility in Denmark, which it has pledged to use in producing COVID-19 treatments.
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Grab to double down on GrabMart as Covid-19 boosts deliveries
Grab said it has expanded its daily essentials and grocery delivery service into eight countries in Southeast Asia amid the Covid-19 pandemic.
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China Halts Some U.S. Farm Imports, Threatening Trade Deal
Chinese government told state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong.
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Apple Reopening Flagship Tokyo Stores as Japan Eases Restriction
Apple Inc. is set to reopen its biggest stores in Japan from midday on Wednesday, bringing its physical retail network back online in one of its biggest markets.
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ByteDance reportedly hit $3b in profit last year
China’s ByteDance, the parent company of video-sharing app TikTok, has recorded a net profit of more than US$3 billion last year, people familiar with the matter told Bloomberg.
