Tag: Business
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Starbucks mulls options for Japan business, including stake sale, Bloomberg reports
June 9 : Starbucks is weighing options for its Japanese business, including a stake sale, Bloomberg News reported on Tuesday. A stake sale might be valued at ¥400 billion ($2.5 billion) to ¥500 billion, possibly attracting interest from other industry players and private equity firms, the report added, cit
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‘Iconic’ Australian BBQ chain goes out of business after almost 50 years
Barbecues Galore will close dozens of stores across the country with the loss of about 500 jobs.
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Japan wholesale inflation accelerates to fastest in 3 years as energy costs spike
TOKYO, June 10 : Japan’s wholesale inflation accelerated in May at the fastest pace in three years as price pressures from the Middle East war broadened, data showed on Wednesday, adding to the case for further interest rate hikes by the central bank.The Bank of Japan meets next week and is expected to delive
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Nintendo shares slump as games pipeline disappoints market
TOKYO, June 10 : Nintendo’s shares fell 7.5 per cent on Wednesday after the company’s Nintendo Direct presentation of forthcoming games lacked titles from top franchises such as “Super Mario”.The Kyoto-based company’s stock price has been hammered by concerns over a lack of high-profile games to build momentu
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Japan’s largest banks to jointly issue stablecoins by March 2027
TOKYO, June 10 : Japan’s three largest banks said on Wednesday they will jointly issue stablecoins during the current fiscal year ending in March 2027, a sign of growing momentum for digital payments in a country where cash and credit cards remain popular.The banking arms of Japan’s three largest financial gr
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Kakao union stages four-hour strike and rally in South Korea over pay
PANGYO, South Korea, June 10 : Unionised workers at South Korean tech firm Kakao began a four-hour strike and rally on Wednesday, demanding job security and changes to the company’s bonus system. The strike will run from 10 a.m. to 3 p.m. (0100 GMT to 0600 GMT), with workers set to join a rally at…
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Google Cloud outage in India after third-party data centre fire triggers shutdown
June 9 : Alphabet’s Google Cloud said on Tuesday that some customers in India experienced intermittent network disruptions after a fire at a third-party data centre triggered an emergency shutdown of networking equipment.The cloud-computing unit said the fire led to an emergency power shutdown at the facility
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SoftBank’s attempt to get $6 billion OpenAI margin loan stalls, Bloomberg News reports
June 10 : SoftBank Group’s talks with potential creditors to raise at least $6 billion from a margin loan backed by its OpenAI stake have stalled, Bloomberg News reported on Wednesday, citing sources.The company is considering various fundraising options, the report said, adding that it could still move forwa
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Samsung Elec invests $175 million to become top shareholder in US genetics firm
June 9 : Privately held Element Biosciences said on Tuesday it had raised funds, including $175 million from longtime investor Samsung Electronics, to expand commercialisation of its genetic testing and research products.The San Diego-based company did not disclose the total size of the upsized Series E fund
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Japan wholesale inflation extends surge as energy shock hits
TOKYO, June 10 : Japan’s wholesale prices surged 6.3 per cent in the year to May, data showed on Wednesday, exceeding market expectations and highlighting mounting price pressures from the Middle East conflict.The rise in the producer price index (CGPI), which measures the price companies charge each other fo
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