Australia’s labor market strengthened for a fourth month in June led by a remarkable comeback in full-time jobs — an upbeat outcome that could bring nearer the day when the country’s central bank starts considering a rate hike. The data will offer much-needed relief to the Reserve Bank of Australia (RBA) which has been fretting […]
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Showdown brewing: With lessons learned in China, a rival is taking on Facebook, Snapchat and YouTube
Chinese live-streaming company YY has been profiting on a revenue model that Silicon Valley once lambasted, but now its global spin-off is aiming to take on U.S. rivals live Facebook, Snapchat, YouTube and Amazon’s Twitch. YY, founded in 2005, is a major Chinese-language social media platform that boasts more than 122 million monthly active users. […]
Read moreLittle action was expected at Wednesday’s U.S.-China Comprehensive Economic Dialogue, but despite the low bar, the event still yielded lackluster results — an indication of further bilateral strains ahead. “It was a little bit of a disappointment,” said Nicholas Consonery, senior director at business advisory firm FTI Consulting. Small deliverables, potentially a new opening in […]
Read moreThe Bank of Japan was expected to lower its inflation forecast in a continued battle with stubbornly weak price growth even as the wider economy is now on firmer footing, economists said ahead of the release of the central bank’s monetary policy statement. The BOJ, which ends its two-day meeting on Thursday, was also expected […]
Read moreSenior U.S. and Chinese officials on Wednesday U.S.-time failed to agree on major steps needed from Beijing to help reduce the U.S. trade deficit with China during an annual economic dialogue meeting, a Trump administration official said. The official, who was not authorized to speak publicly on the talks and requested anonymity, said that the […]
Read moreSoutheast Asia’s largest telecommunications company may be on the hunt for acquisitions following the highly anticipated public listing of Netlink NBN Trust, which raised about 2.35 billion Singapore dollars ($1.72 billion). The newly public trust was the broadband arm of Singapore Telecommunications (Singtel), which said it took in a sizable haul from the public debut. […]
Read moreAsian private equity players are pointing to one big deal opportunity ahead: People in Asia are getting older. Kyle Shaw, managing director at ShawKwei & Partners, a private equity firm focused on medium-sized industrial and industrial-tied services in Asia, said Wednesday that demographics is a major and “unstoppable” trend for investments. “In the 1980s through […]
Read moreMcCormick & Co said it would buy the food business of British consumer goods conglomerate Reckitt Benckiser Group for $4.2 billion to expand its footprint in the attractive condiments category. McCormick expects the hot sauce category will continue to see robust growth and said it would integrate the business, RB Foods, into its consumer and […]
Read moreThe current weakness in the U.S. dollar may be short lived, as a pick-up in inflation and expected rate hikes by the Federal Reserve will support the greenback in the coming months, JPMorgan Asset Management said Wednesday. “We’re thinking that the dollar will actually rebound in the second half, and this is mainly as the […]
Read moreAn increasingly assertive China is making its presence felt in Hong Kong, which is a development Taiwan is watching closely as the self-governed island marks 30 years after the lifting of martial law. “The Hong Kong experience provided a glimpse of what might happen to Taiwan should the ‘One Country, Two Systems’ formula apply (to […]
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