CNA938 Rewind - $130 yearly pay raise: Enough to attract workers to join the retail sector?
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
23 minutes ago
- CNA
CNA938 Rewind - X-Inc – Bringing MrBeast's Burger Culture to Singapore
CNA938 Rewind - X-Inc – Bringing MrBeast's Burger Culture to Singapore In 'Culture Club', Melanie Oliveiro finds out about importing the culture and cult status of the MrBeast Burger brand to Singapore; MrBeast being the social media star and businessman. X-Inc's Nichol Ng, CEO of Xolutions – a food industry strategy and solutions provider – will talk about how MrBeast Burger, a virtual brand, will operate out of existing restaurant kitchens, allowing F&B operators – including social enterprises like Dignity Kitchen - to tap into alternative revenue streams. She'll also talk about the pop culture appeal of MrBeast and his business acumen. Ng will then discuss Xcelerate Academy, a training and transformation IHL which is also aimed at Singapore's foodservice and wholesale businesses.
CNA
23 minutes ago
- CNA
Japan's Minebea Mitsumi raises tender offer price for Shibaura
TOKYO :Japanese components maker Minebea Mitsumi has decided to raise its tender offer price for thermistor maker Shibaura Electronics to 6,200 yen ($42.31) from 5,500 yen ($37.53), the companies said on Thursday. The new price matches the tender offer price presented by Taiwanese components supplier Yageo in its unsolicited bid to acquire Shibaura Electronics. The bidding battle has become a test of Japan's openness to unsolicited takeovers. Stigma around such offers has eased recently, yet unsolicited bids from foreign firms remain rare. After Yageo's overture in February, Shibaura Electronics tapped Minebea Mitsumi as a white knight and called on it to submit a competing bid. Both Minebea Mitsumi and Yageo extended their tender offer period for Shibaura Electronics until August 18. Japan's Finance Ministry last week formally classified Shibaura Electronics as core to national security. Yageo, the world's largest maker of chip resistors, is awaiting the outcome of the security review under the Foreign Exchange and Foreign Trade Act. ($1 = 146.5400 yen)
CNA
26 minutes ago
- CNA
Foxconn sees robust AI demand continuing after Q2 profit tops forecast
TAIPEI: Foxconn expects higher third-quarter revenue, it said on Thursday (Aug 14), on robust demand for artificial intelligence servers, which helped the world's largest contract electronics maker report a forecast-beating 27 per cent increase in second-quarter profit. Foxconn said it should see significant year-on-year revenue growth in the third quarter, with AI server revenue expected to leap more than 170 per cent year-on-year, though it also warned on uncertainty from US tariffs. Nvidia's biggest server maker and Apple's top iPhone assembler has been riding a data centre boom, as cloud computing firms such as Amazon, Microsoft and Alphabet's Google spend billions of dollars to expand their AI infrastructure and research capacity. That boom helped Foxconn's revenue from its cloud and networking business, which includes AI servers, exceed that from smart consumer electronics - such as iPhones - for the first time ever in the second quarter. The contribution from the server business to its revenue is set to grow further in the current quarter, as Foxconn expects a slight decline in smart consumer electronics revenue, as some experts expect slowing iPhone sales after sales surged in the June quarter ahead of the expected imposition of US tariffs. "AI has been the primary growth driver so far this year," Kathy Yang, rotating CEO of Foxconn, said on a call with media and analysts. But she also warned that "close attention is needed due to the impact of changes in tariffs and exchange rates." The company said on Thursday its capital spending would rise more than 20 per cent this year, as it plans to boost server production capacity in its manufacturing sites in Texas and Wisconsin. Yet, global trade uncertainty could dim the prospects for its outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing this week extended a tariff truce for another 90 days. Most of the iPhones Foxconn makes for Apple are assembled in China, but the bulk of those sold in the United States are now produced in India. The company is also building factories in Mexico and Texas to make AI servers for Nvidia. LORDSTOWN SOLD Foxconn has also been looking to expand its footprint in electric vehicles, which the company sees as a major future growth generator, though that has not always gone smoothly. Earlier this month, Foxconn said it had struck a deal to sell a former car factory at Lordstown, Ohio, for US$375 million, including its machinery, that it purchased in 2022 to manufacture EVs. However, it will continue to occupy the facility. The company said the Ohio plant would be used to manufacture cloud-related products. "In response to the rapidly growing demand for AI computing power in the US market, we will also leverage the Ohio plant to manufacture cloud network products," Yang said, without giving details. The goal of manufacturing the Model C EV for the US market remains unchanged, although initial production will take place in Taiwan, Foxconn said. Overall, the company reported net profit for the April-June period was NT$44.4 billion (US$1.48 billion), higher than the consensus estimate of NT$38.8 billion compiled by LSEG. Foxconn, formally called Hon Hai Precision Industry, last month reported record second-quarter revenue on strong demand for AI products but cautioned about geopolitical and exchange rate headwinds. Foxconn's shares have risen 8.4 per cent so far this year, outperforming the broader Taiwan index's 5.2 per cent gain.
