TOKYO Japan’s Fast Retailing Co. cut its full-year outlook after worse-than-expected quarterly results, hit by Hong Kong protests and a South Korean consumer boycott that dented sales at its Uniqlo stores. The company had come to depend on its Asian growth, especially in China, where Uniqlo’s mix of affordable basics and...
PHNOM PENH (Reuters) Thousands of Cambodians working for a Hong Kong-listed casino company have gone on strike for higher pay and better working conditions, they said on January 8. About 3,000 workers joined the strike in front of the NagaWorld hotel and casino complex, owned by NagaCorp Ltd., in Phnom Penh...
Sam Nussey (Reuters) TOKYO Japanese fashion tycoon Yusaku Maezawa is giving away $9 million to his Twitter followers in what he says is a “social experiment” to see if the payment boosts their happiness. Maezawa will give 1 million yen ($9,000) to 1,000 followers selected at random from those who retweeted a...
Swati Bhat (Reuters) MUMBAI, NEW DELHI India’s current fragile economic conditions call for government action to boost spending in the coming financial year, allowing for a widening in the fiscal deficit to bolster growth, a senior official familiar with government policymaking said. The government should invoke the escape clause under the Fiscal...
SAN FRANCISCO Uber is in advanced discussions to sell its food-delivery business in India, according to two people with knowledge of the plans, as the company moves to stem its losses. The ride-hailing company is nearing a deal to sell its Uber Eats service in India to Zomato, an Indian food-delivery...
TOKYO Japanese stocks fell on Monday, December 16, slipping from an over- one-year high hit in the previous session as investors booked profits following an initial rally sparked by a preliminary trade deal between the United States and China. The Nikkei index ended down 0.29 percent at 23,952.35 with the industrial...
BANGKOK Thailand’s chicken exports to China are forecast to increase by 60 percent next year, a Thai industry association said December 18, as China seeks alternative meat supplies after an outbreak of swine fever nearly halved its pig herd. China’s pig herd is about 40 percent smaller than a year ago,...
SYDNEY Qantas Airways plans to have more experienced pilots on board the world’s longest non-stop flights than on its current long-haul flights for the first 18 months as it evaluates fatigue, said sources with knowledge of the matter. The airline said it could buy up to 12 Airbus SE A350 planes...
MACAO When Macao, the Portuguese colony turned Chinese gambling hub, got a new chief executive in October, the vote by an electoral committee was unanimous. He ran unopposed. No one took to the streets in protest. When young activists applied for permission to demonstrate in support of the protest movement in...
http://URL: https://www.nytimes.com/2019/12/19/business/goldman-sachs-1mdb.html Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty, to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, a person with knowledge of the...