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Texas electricity firm files for bankruptcy citing US$1.8 billion in claims from grid operator

Texas's largest and oldest electric power cooperative on Monday filed for bankruptcy protection in federal court in Houston, citing a disputed US$1.8 billion bill from the state's grid operator.

Markets

China says underpricing rare earths will lead to race to bottom

China's rare earths are underpriced due to vicious competition and face low resource utilisation, which would lead to a race to the bottom, the country's industry minister said on Monday.

Markets

China to develop tech to deal with misbehaving apps, plug personal information leaks

BEIJING: China will improve detection technologies to find information protection "loopholes" as more effort is being made this year to regulate the country's huge mobile app market, the information technology minister said. "Those apps that refuse to accept rectification must be resolutely ...

Markets

Logitech warns on FY 2022 outlook after pandemic-boosted FY 2021

Computer goods maker Logitech International on Monday warned operating income for fiscal 2022 will drop back from a 2021 boom driven stoked by demand for mice and keyboards for work and leisure at home amid the coronavirus pandemic.

Markets

Biden defends workers’ rights, warns of ‘threats’ as Amazon employees vote on union

President Joe Biden defended workers' right to unionize and urged them to "make your voice heard" in a video statement posted on Twitter on Sunday night, as Amazon.com Inc employees in Alabama vote on whether to unionize.

Markets

Tech demand drives Asia’s factory revival, China’s slowdown puts dampener

Solid demand for technology goods drove extended growth in Asia's factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow.

Markets

Singapore bank lending up 0.7% in January: MAS data

SINGAPORE'S bank lending rose for the third straight month in January on higher loans to businesses, data from the Monetary Authority of Singapore (MAS) showed on Monday.

Markets

DBS appoints Raof Latiff as new Malaysia country head

DBS on Monday announced that it has appointed a new Malaysia country head to replace Jeffrey Ling, who will be retiring from the role.

Markets

Asian stocks rally, battered bond market tries to steady

Asian shares rallied on Monday as some semblance of calm returned to bond markets after last week's wild ride, while progress in the huge U.S. stimulus package underpinned optimism about the global economy and sent oil prices higher.

Markets

Exclusive: An ‘industry custom’ – Little-known fees help Japan trust banks dominate profitable niche market

When Japan's Honda Motor Co Ltd stopped using Sumitomo Mitsui Trust Bank Ltd as its stock transfer agent last year, the lender slapped it with a roughly US$4 million termination fee, according to two people familiar with the matter.

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