Posts by Liam Redmond
Mitsubishi Motors signs MOU to outsource EV model development to Foxconn unit
Published Wed, May 7, 2025 · 02:23 PM [TOKYO] Japanese automaker Mitsubishi Motors and Foxconn subsidiary Foxtron Vehicle Technologies have signed a memorandum of understanding (MOU) for the supply of an electric vehicle (EV) model, the companies said on Wednesday (May 7). The EV model will be developed by Foxtron, manufactured in Taiwan by automaker…
Read MoreTemu, Shein see US sales drop in week after tariff price hikes
[NEW YORK] Shein Group and Temu saw double-digit sales declines in the week after they raised retail prices to cover the costs of increased US tariffs, an initial sign that US President Donald Trump’s punitive trade measures have taken a toll on the shopping platforms’ popularity. Shein posted a 23 per cent drop in observed…
Read MoreBiden defends last-minute decision to end 2024 re-election bid in first interview since leaving WH: ‘I don’t think it would have mattered’
Former President Joe Biden defended his eleventh-hour decision to end his 2024 re-election bid, telling the BBC Wednesday “I don’t think it would have mattered” to the election outcome if he stepped aside sooner. Biden, now 82, bowed out of the race on July 21 following a Democratic Party revolt over his disastrous performance in…
Read MoreLatest Singapore six-month T-bill cut-off yield falls to 2.3%
[SINGAPORE] The cut-off yield for Singapore’s latest six-month Treasury bill (T-bill) fell to 2.3 per cent, according to auction results released by the Monetary Authority of Singapore on Wednesday (May 7). This declined from the 2.38 per cent cut-off yield offered in the previous six-month auction that closed on Apr 24, marking the fourth consecutive issuance in…
Read MoreHong Kong dollar interest rate falls most since 2008 after intervention
[NEW YORK] The Hong Kong dollar’s funding costs plunged the most since 2008, as the monetary authority’s intervention to defend the currency peg helped boost liquidity in the financial system. The one-month Hong Kong Interbank Offered Rate declined 58 basis points to 3.08 per cent on Wednesday (May 7), the most since 2008, according to…
Read MoreRivian cuts EV delivery outlook, sees tariff impact
[AUSTIN] Rivian Automotive said full-year deliveries will decline more sharply than it anticipated just a month ago, citing risks that US President Donald Trump’s trade war will further dampen demand for pricey electric vehicles (EVs). The company now expects to sell 40,000 to 46,000 battery-powered pickups, SUVs and delivery vans this year, it said on…
Read MoreSIA and Scoot among Asia airlines rerouting flights amid flare-up in India-Pakistan hostilities
[SINGAPORE] Singapore Airlines (SIA) and its budget arm Scoot have stopped flying over Pakistan airspace after fighting broke out between the country and neighbouring India. The Singapore carriers have been using alternative flight paths since Tuesday (May 6) to avoid the war zone. In response to queries from The Business Times, an SIA spokesperson said…
Read MoreAsian airlines re-route, cancel flights due to India-Pakistan fighting
Published Wed, May 7, 2025 · 12:11 PM [TAIPEI] Several Asian airlines said on Wednesday they were re-routing or cancelling flights to and from Europe because of fighting between India and Pakistan. India attacked Pakistan and Pakistani Kashmir and Pakistan said it had shot down five Indian fighter jets in the worst fighting in more…
Read MoreAsia: Stocks rise as China-US trade talks boost optimism
[HONG KONG] Asian equities rose on Wednesday after China and the United States said they would hold trade talks at the weekend, fanning optimism that the superpowers can row back eye-watering tariffs that have raised recession fears. Beijing’s moves to ease some key monetary policy tools to kickstart the world’s number two economy boosted hope…
Read MoreWorld’s trade superhighway feels strain from US-China decoupling
[HONG KONG] Container liners are starting to sever shipping routes that link the US and China across the Pacific, as US President Donald Trump’s trade war upends the industry and forces the two largest economies apart. Among signs of disruption are plunging fees, fewer services, and a pall of uncertainty over what for decades has…
Read MoreGilbert Arenas reveals frightening details of son Alijah’s crash that led to coma, ‘angels’ who saved him
Gilbert Arenas told Dan Patrick that his son Alijah was “doing very well” following the scary car accident that put the former NBA All-Star’s son in a medically induced coma at the end of April. Alijah was involved in the car crash in in the San Fernando Valley area of Los Angeles after he lost…
Read MoreAustralian dollar hits new five-month high on US-China trade talks
[SYDNEY] The Australian dollar hit a new five-month peak on Wednesday, buoyed by progress in US-China trade talks scheduled for later this week, while the New Zealand dollar found little support following a mixed picture on jobs. The Aussie fetched US$0.6514 for the first time since early December, although it was still battling sellers at…
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