Business

Singtel flags $216 mln exposure in Australia tax case defeat

Singapore Telecommunications Ltd (STEL.SI) has estimated it faces A$304 million ($216 million) in tax exposure, interest and penalties, after an Australian court dismissed its appeal against an assessment by the country’s taxation office. The case is related to its acquisition of Singtel Optus Pty Limited in 2001. Singtel’s Australian subsidiary, Singapore Telecom Australia Investments (STAI), […]

Business

Toyota to halt production at 5 factories in January due to supply chain issues

Toyota Motor Corp (7203.T) said on Monday it would suspend production at five domestic factories in January due to supply chain issues, chip shortages. Japan’s top automaker said that the stoppage at the factories will affect about 20,000 vehicles, but won’t impact their annual target to manufacture nine million vehicles. Last week, Toyota said it […]

Business

China cuts lending benchmark, market sees more easing in 2022

China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months on Monday, in a bid to prop up growth in the slowing economy, although it remains wary of loosening conditions in the country’s highly leveraged property market. The one-year LPR was lowered by 5 basis points to 3.80% from […]

Business

Bank of Montreal in advanced talks to buy BNP Paribas’s U.S. unit – WSJ

Canada’s Bank of Montreal is in advanced talks to buy the U.S. arm of French bank BNP Paribas SA (BNPP.PA), the Wall Street Journal reported late on Sunday, citing people familiar with the matter. The Canadian lender could finalize an agreement as soon as this week, assuming the talks don’t fall apart, according to the […]

Business

China urges real estate project acquisitions to aid struggling developers -state media

China is urging large private and state-owned property companies to acquire real estate projects from troubled developers to reduce risks that mounting debt piles will destabilise the economy, the official China Securities Journal said on Monday. The People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) recently issued a notice […]

Business

BOJ’s Kuroda: too early to consider normalising monetary policy

Bank of Japan Governor Haruhiko Kuroda said on Monday it was too early to consider normalising monetary policy, bolstering the view that the Japanese central bank would lag behind other central banks in dialing back monetary stimulus. Kuroda made the remark as the Bank of England last week became the first G7 central bank to […]

Business

Google’s YouTube TV reaches deal to restore access to Disney channels

Alphabet Inc’s (GOOGL.O) YouTube began restoring access to Walt Disney Co (DIS.N) channels on its platform on Sunday, after the companies reached a distribution agreement to end a two-day blackout. YouTube tweeted that “we’ve reached a deal with Disney and have already started to restore access to channels like ESPN and FX.” Neither company disclosed […]