Author: admin

13 Mar Scan your receipt to exit? Loblaw facing backlash as it tests receipt scanners at self-checkout

Posted at 08:00h in Canada

In an attempt to combat theft at its stores, Loblaw is testing receipt scanners at four of its locations, the grocery giant told CBC News. Customers who go through self-checkout must use the device to scan their receipt's barcode — confirming that they paid something — which opens...

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13 Mar UK economic growth, January 2024

Posted at 07:44h in Europe

People walk along Waterloo Bridge past the City of London skyline, the capital's financial district, on a sunny and mild day.Sopa Images | Lightrocket | Getty ImagesLONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction...

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13 Mar Country Garden making ‘best effort’ to raise US$13 million bond coupon within grace period as China housing crisis crushes home sales

Posted at 07:38h in Asia

Country Garden Holdings said it is doing its best to raise cash and repay holders of its local-currency bonds and avert a default, after a multi-year housing slump damaged confidence, home sales and cash flows.The distressed developer did not pay the 96 million yuan (US$13.3...

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13 Mar China EV war: BYD prices a fifth car below 100,000 yuan threshold as it takes offensive in market-share battle

Posted at 05:30h in Asia

“BYD appears to be extremely aggressive in driving a transition from petrol cars to EVs in the country’s automotive industry,” said Eric Han, a ­senior manager at Suolei, an advisory firm in Shanghai. “The cheap models will also draw middle-income consumers who have become price...

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13 Mar Samsung to use chip-making tech favoured by SK Hynix as AI race heats up, sources say

Posted at 04:05h in Asia

Samsung Electronics plans to use a chip making technology championed by rival SK Hynix, five people said, as the world’s top memory chip maker seeks to catch up in the race to produce high-end chips used to power artificial intelligence (AI).The demand for high bandwidth...

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13 Mar Geely-backed smartphone maker DreamSmart taps CICC, Huatai for potential Hong Kong IPO, sources say

Posted at 03:54h in Asia

DreamSmart Group, the smartphone maker that last year pivoted towards developing artificial intelligence (AI) for mobile devices, has selected banks to prepare for its Hong Kong initial public offering (IPO) that may value it at more than 15 billion yuan (US$2.1 billion).The start-up behind popular...

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13 Mar Standard Chartered CEO contender Cooper to leave in overhaul as UK bank changes top Greater China jobs

Posted at 03:45h in Asia

A frontrunner to replace Standard Chartered Chief Executive Officer Bill Winters is set to depart as the emerging markets lender pushes through a broader management reshuffle to boost returns.Simon Cooper, who has led the firm’s corporate, commercial and institutional banking division for eight years, will...

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13 Mar Intel still sells to Huawei millions of dollars’ worth of advanced chips, while AMD receives no such licence: sources

Posted at 02:53h in Asia

Intel’s ability to hang on to a licence to sell chips while a rival could not obtain similar permission demonstrates the uneven and uncertain terrain companies face as the US seeks to limit Beijing’s access to sophisticated American technology, especially to a heavily sanctioned company...

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13 Mar Li Auto, BYD put Hong Kong stocks on course for best run in 5 months as buying persists

Posted at 02:48h in Asia

Hong Kong stocks rose for a fourth day, the best winning streak in five months, as mood perked up after the main equity gauges broke through some key technical barriers.The Hang Seng Index rose 0.3 per cent to 17,143.34 as of 9.59am local time. The...

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13 Mar South Korea to review risky financial products after China market slump triggers more than US$4 billion in losses

Posted at 02:01h in Asia

South Korea to review risky financial products after China market slump triggers more than US$4 billion in lossesSouth Korea plans to review the sale of potentially high-risk investments after a probe found that banks mis-sold China-linked structured products to retail investors who are facing more...

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