The Wall Street firm’s $8.9 bln earnings were buffeted by surging markets and fines for its role in a giant bribery scandal. Underneath it all, Goldman is becoming more efficient. And as a latecomer to retail banking, it is spared the painful impact of falling rates and lending.
TSMC, the $560 bln chipmaking powerhouse, showcases the island s clout in supply chains, semiconductors, 5G and more. That bodes well for bilateral trade and investment flows. Closer economic ties should help ease fears of potential changes in Washington’s approach to Taipei.
Latest
– IPO market
Straight and narrow. U.S. retailer Target said on Wednesday that same-store sales during November and December rose 17% compared to the same two months in 2019. The pandemic helped a surge in online shopping, which more than doubled. The $550 million acquisition of Shipt three years ago, part of Target’s push into e-commerce, proved to be a gem of a deal. The service, which allows for same-day shipping, grew more than 300%.
Something else jumps out: Target said that about 95% of its sales were fulfilled by stores. That will help the $100 billion chain compete with mega-rival Amazon.com on price and, crucially, quality – by collecting goods at the store, people know what they are getting. The fact that customers are willing participants in curbside pick-up, which rose a whopping 500%, means Target is making its physical footprint, once a burden, into an arrow in its quiver. (By Jennifer Saba)
American Tower is paying 7.7 bln euros for Telefonica’s 31,000 sites in Europe and Latin America. The rich price tag makes the Spanish firm a clear winner. By creating a new rival to leader Cellnex, the deal may also help peers like Orange or Deutsche Telekom sell their assets.
The region’s hot tech companies, Tokopedia, Grab and Gojek, are mulling consolidation. Any of them could be swallowed by Singapore’s $106 bln gaming-to-shopping giant Sea which has a war chest of cash and rich stock. But boss Forrest Li has good reason to sit back.