
HK Builder Lai Sun Seeks More Bank Support for Loan Refinancing
The property firm — controlled by local tycoon Peter Lam — has secured commitments from nine out of the original 19 lenders for the five-year refinancing, said the people, who declined to be identified discussing private matters. The existing loan matures on Oct. 5, according to Bloomberg-compiled data, adding urgency to Lai Sun's efforts.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
AMD posts mixed Q2 results but offers better than expected Q3 outlook on AI sales
AMD (AMD) reported its second quarter results after the bell on Tuesday, missing on adjusted earnings per share, but beating analysts expectations on revenue. The company also provided better than anticipated Q3 guidance of between $8.4 billion and $9 billion. Wall Street was expecting $8.3 billion The announcement comes ahead of rival and market leader Nvidia's (NVDA) own earnings report later this month. AMD stock was flat following the report. AMD shares are up 44% year to date and 29% over the last 12 months, while Nvidia shares are up 32% and 77%, respectively. For the quarter, AMD saw adjusted earnings per share (EPS) of $0.48 on revenue of $7.6 billion. Wall Street was expecting EPS of $0.49 on revenue of $7.4 billion, according to Bloomberg consensus estimates. AMD saw an $800 million impact from the Trump administration's ban on the sale of the company's MI308 AI chips for China. Nvidia took a $4.5 billion write-down from the ban in Q1 and said it expects a larger $8 billion hit in its second fiscal quarter. Trump reversed course on the ban last month, which should help make up for some of those losses in the coming quarters. AMD should also benefit from the launch of its MI350 line of AI chips, designed to go toe-to-toe with Nvidia's Blackwell-powered chips. According to AMD, the MI350 line, which includes the MI350X and MI355X, offers four times the AI compute performance and a 35x increase in inferencing capabilities versus its predecessors. AMD's Data Center segment revenue topped out at $3.2 billion, beating Wall street expectations. The company saw $2.8 billion in the segment last year. Beyond the Data Center segment, AMD's Client business, which includes sales of CPUs for desktops and laptops, generated $3.6 billion in revenue versus an anticipated $2.5 billion. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Rivian loss bigger than expected on higher costs, lower credit income
By Akash Sriram and Abhirup Roy (Reuters) -Rivian Automotive reported a higher-than-expected quarterly loss on Tuesday as disruption in supply of rare earth metals used to make parts of its electric vehicles raised costs and income from credits sold to traditional automakers dwindled. Shares of the automaker fell 4% in trading after the bell. China's curbs on the export of heavy rare earth metals —essential components for motors — sharply increased material costs and disrupted supply chains, driving up the cost of EV production in the U.S. The company reported an adjusted loss per share of 80 cents for the second quarter, compared with analysts' average estimate of 65 cents, according to data compiled by LSEG. Rivian also flagged a bigger adjusted core loss this year, expecting it to between $2 billion and $2.25 billion, compared with $1.7 billion to $1.9 billion previously forecast. The company largely blamed a tapering in the value of U.S. regulatory credits for the higher loss estimate. The elimination of penalties for automakers not meeting fuel economy standards by President Donald Trump's administration has drastically reduced demand for regulatory credits, which companies like Rivian previously sold to traditional automakers to help them avoid emissions fines. The company delivered 10,661 vehicles in the second quarter, marking a 22% decline from the same period a year earlier, as Rivian limited production to prepare for its 2026 model year launch. Earlier this year, the company slashed its 2025 deliveries forecast to 40,000 to 46,000 vehicles from an initial 46,000 to 51,000, citing U.S. tariffs resulting in cost pressures that dampened demand. The company said it will pause production for one week less in the second half of 2025 to integrate key components and prepare for the launch of the R2 SUV next year. The $7,500 federal EV tax credit expires at the end of September, eliminating a key competitive advantage that has driven electric vehicle demand, but analysts anticipate a surge in third-quarter sales as consumers rush to purchase EVs before losing access to the incentive. The company said it expects a record number of deliveries in the third quarter across its consumer and commercial vehicle segments. Revenue for the second quarter stood at $1.3 billion, surpassing analysts' average estimate of $1.28 billion, according to data compiled by LSEG. Cash and cash equivalents were $4.81 billion at the end of the June-quarter, compared with $4.69 billion in the preceding three-month period. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Business of Fashion
9 minutes ago
- Business of Fashion
Shein and Temu Outpace Global Retail Giants in South Africa's Fashion Market
China-founded e-commerce retailers Shein and Temu have captured a combined 3.6 percent share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3 percent in 2011 to 74 percent in 2024. Meanwhile, international brick-and-mortar brands like H&M, Zara and Cotton On hold a combined 3.4 percent share. Shein and Temu now command a combined 3.6 percent share of the CTFL market, and 37.1 percent of South Africa's e-commerce CTFL market, with Shein alone accounting for 28 percent of online ladies' CTFL sales. 'Those [international] retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period,' said Sean Mercer, principal consultant at consulting firm BMA. By Siyanda Mthethwa; Editors: Nqobile Dludla and Alexandra Hudson Learn more: South Africa Will Impose New Tax on Fast Fashion Parcels The country's tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.