SoftBank
SoftBank Group plans to sell its first bond in more than a year, joining a rush by companies globally to tap credit markets while borrowing costs are low.
The Japanese technology conglomerate is preparing to sell about 100 billion yen (S$1.28 billion) of hybrid bonds, according to co-lead underwriter Nomura Holdings. It plans to price the deal this month.
SoftBank Group’s bonds and stock price rebounded sharply last year after initially diving when markets convulsed in early March due to the pandemic and concerns about the company’s large debt burden.
BLOOMBERG
Michelin
Michelin plans to cut as many as 2,300 jobs in France over about three years as it focuses on the premium tyre market while diversifying into recycling, new materials and projects in areas including hydrogen.
Although no factories will be closed, a revamp of Michelin plants will result in as many as 1,200 job losses, mostly through early retirement and voluntary redundancy, it said in a statement yesterday.
The remainder of the cutbacks will be in services to help boost efficiency by 5 per cent a year, it said.
BLOOMBERG
Amazon
Amazon.com said on Tuesday it bought 11 Boeing 767-300 aircraft, as it looks to boost its delivery capabilities to cater to a surge in online orders.
The aircraft, including seven from Delta Air Lines and four from WestJet Airlines, will join Amazon’s air cargo network by next year, the online retailer said in a statement.
In June last year, Amazon had leased 12 Boeing 767-300 converted cargo aircraft from Air Transport Services Group, bringing its total fleet to more than 80.
REUTERS
