Corporate News

Kia scales back on EV9 in US amid tighter rules

Hyundai Motor Group affiliate Kia is reportedly scaling back US production of its ambitious EV9, a large all-electric sport utility vehicle (SUV), due to stricter Inflation Reduction Act (IRA) regulations.

Insight

Optimistic view of the United States and South Korea alliance

As the dust settles from the 2024 US elections, many US allies and partners, including South Korea, are wondering what happens next as Donald Trump returns to the White House in January.

Corporate News

Expansion plans to buoy Perak Transit

The outlook for Perak Transit Bhd remains positive, with growth expected to be sustained by its strategic expansion plans.According to BIMB Research, the expected commencement of SVETOFOR grocery store as a new tenant at the company’s bus terminals next month will drive higher foot traffic.

Corporate News

Motorola CEO sees Trump as favourable to business

Motorola Solutions Inc chief executive officer (CEO) Greg Brown said the incoming administration of US President-elect Donald Trump will be favourable to a business that’s already doing very well.

Economy

Indonesia seeks to give dairy industry a boost

The government expects its free nutritious meals (MBG) programme to boost demand for milk and is pushing dairy farmers to up their game in terms of quality and quantity.

Banking

Westpac calls for new plan to speed open banking

New Zealand should consider an accreditation regime for emerging financial technology (fintech) firms if it wants open banking to get support from consumers, according to Westpac New Zealand chief executive office Catherine McGrath.

Corporate News

Stellantis delays electric Ram truck debuts to first half 2025

Multinational automaker Stellantis NV will delay the arrival of its two electric pickup trucks to the first half of 2025 from the end of this year, chief executive officer Carlos Tavares says.

Corporate News

Citi, Santander prep US$4.2bil debt for buyout

Citigroup Inc and Banco Santander SA are readying a debt package of up to €4bil (US$4.2bil) to back a potential sale of Spanish waste management company Urbaser SA.

Corporate News

Spirit Airlines files for bankruptcy protection

Spirit Airlines was expected to be one of the big travel industry winners after the pandemic. But the no-frills pioneer never found its wings in a changed business and operating landscape.

Markets

JPMorgan tech chair expects faster reviews

There are hundreds of private technology companies waiting for the market for initial public offerings to open up, according to a JPMorgan Chase & Co global chairman of technology investment banking, with clarity on the US election expected to provide a shot in the arm for listing hopefuls.

Auto

US EV demand to drop 27% without tax credit

Eliminating the US electric vehicle (EV) tax credit would dent future EV demand – perhaps by more than a fourth – while providing a trivial boost to petrol consumption, economists estimate.

Corporate News

Glencore strikes deal to test copper leaching at Chile mine

Glencore Plc is moving forward with a new extraction technology at its copper mine in northern Chile as part of the industry’s efforts to squeeze out more metal from lower quality ore.

Economy

Fed’s Schmid uncertain how far rates can fall

It remains uncertain how far interest rates can fall, though the initial reductions made by the US central bank are a vote of confidence that inflation is returning to its 2% target, Kansas City Federal Reserve (Fed) president Jeffrey Schmid says.

Forex

US election-fuelled dollar surge begins to fade

Some key market metrics are starting to suggest the Trump-inspired rally in the dollar may have plateaued, as bullishness fuelled by the US election wanes.

Economy

Firms urged to grow exports to EU markets

Since the EU-Vietnam Free Trade Agreement (EVFTA) came into effect in August 2020, the the continental block has emerged as a leading trade partner for the South-East Asian nation.

Economy

Can a COP29 deal clean up carbon offsets?

A deal at the COP29 climate talks on trading carbon credits could see billions of US dollars move into emissions-reduction projects this decade, but after a string of scandals, the market will first need to win over wary countries and communities.

Economy

FTAs spur trade growth between Vietnam and Americas

Vietnam’s trade activities with the Americas have been boosted, thanks to effective exploitation of free trade agreements (FTAs).

Economy

Exports grow despite increasing global risks

Japan’s exports picked up more than expected in October as demand from China and the rest of Asia held firm even in the face of mounting uncertainties in overseas markets.

Corporate News

Korea Zinc chief looks to regain trust after huge tactical error

Korea Zinc Co’s chairman is working to regain shareholders’ trust after being forced to scrap a US$1.8bil share sale last week, a setback in the bitter battle for control with the company’s top shareholder that he described as his “one real mistake”.

Economy

Australia prepares for new wave of retirees

The Australian government is proposing a raft of changes for the nation’s A$3.9 trillion (US$2.5 trillion) pension industry, to prepare for the retirement of an estimated 2.5 million people over the next decade.