Exclusive: Grab to cut more costs amid economic chill
Grab Holdings Southeast Asia’s biggest ride-hailing and food delivery firm, is cutting more costs to cope with an uncertain economic backdrop, the Singapore-based company’s CEO told staff in a memo.
ECB to slow rate hikes and lay out plans to drain cash
The European Central Bank is set to raise interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, and lay out plans to drain cash from the financial system as it fights runaway inflation.
Germany’s half-a-trillion dollar energy bazooka may not be enough
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
Goldman Sachs to stop making unsecured consumer loans – source
Goldman Sachs Group Inc plans to stop originating unsecured consumer loans, a source familiar with the move told Reuters on Monday, in another sign the bank is stepping back from its consumer business.
Exclusive: China readying $143 billion package for its chip firms in face of U.S. curbs
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
U.S. finalizes $2.5 billion loan to GM, LG battery joint venture
The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities.
Exclusive: Morgan Stanley to slash 2022 banker bonuses in Asia by up to half
Morgan Stanley plans to slash investment bankers’ annual bonuses by as much as 50% in Asia, said two people with direct knowledge of the matter, as the Wall Street firm reins in costs to tackle tough market conditions that have hit its revenue.
China shipyards feast on record LNG tanker orders as South Korea builders are full up
China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked.
Exclusive: Air India nears historic order for up to 500 jets
Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said on Sunday.
Israel targets ‘smart’ cities with new 5G mobile auction
Israel urged mobile firms to expand the deployment of fifth-generation sites to allow for ‘smart’ stadiums and hospitals on Wednesday, as the country launched its second 5G tender.
