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The Latest Breaking News from Greater China

Nike shares dive in after-hours trading after it warns of 'increased macro headwinds' in Greater China and EMEA

Nike trimmed its annual sales forecast, and also announced that it wants to cut $2 billion in costs over the next three years.

Fortune

Xi’s crackdowns drive Chinese billionaires to booming Singapore

One of the hottest wine bars for Chinese billionaires isn’t atop a Shanghai office tower or within a Beijing courtyard house. It’s in a modest black-and-white bungalow next to a six-lane thruway in the heart of Singapore.

Bangkok Post

Axa to focus on Asia for long-term growth

Southeast Asia, Greater China and Japan will remain the three pillars of Axa Group as it grows its business in the coming years, the Paris-based insurer says, noting that the Thai insurance industry is poised for an upward growth trend from 2022 onwards.

Bangkok Post

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Nike Stock Slides As As Margin Pressures, China Worries Offset Q4 Earnings Beat

"We think we're well positioned for growth in fiscal year 2023 ... having said that, we did take a cautious approach to Greater China," said CFO Matthew Friend.

The Street

BlackRock To Expand Its Singapore Footprint: Bloomberg

BlackRock, Inc. (NYSE:BLK) is planning a significant expansion in Singapore, following in the footsteps of other international firms hoping to capitalize on capital flows into Southeast Asia, reported Bloomberg. According to people familiar with the matter, BLK is in talks to double its floor space at an office building in the city-state's…

Benzinga

MorphoSys Stock Skyrockets On Entering Equity Participation and License Agreements With HIBio

MorphoSys AG (NASDAQ:MOR) and Human Immunology Biosciences, Inc. (HIBio), a biotechnology company, have established an equity participation agreement and license agreements to allow HIBio to develop and commercialize MorphoSys’ felzartamab, an anti-CD38 antibody, and MOR210, an anti-C5aR1 antibody. HIBio is a biotechnology company based in South San Francisco that focuses on discovering and…

Benzinga

Adidas Shares Slide As China Lockdown Weighs On Q1 Earnings, FY22 Outlook

Adidas AG (OTC:ADDYY) reported first-quarter FY22 sales growth of 0.6% year-on-year to €5.3 billion. Currency-neutral sales declined 3% as supply constraints reduced the top-line by €400 million. Currency-neutral sales across North America rose 13%, EMEA improved 9%, and Latin America jumped 38%. The challenging market environment and COVID-19-related lockdowns in Greater China and…

Benzinga

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Shake Shack Plans Southeast Asia Expansion With 2023 Bangkok Opening

Shake Shack Inc (NYSE:SHAK) plans to expand in Southeast Asia through a partnership with Maxim's Caterers Limited. The company plans to launch fifteen Shacks in Thailand by 2032, with the first one to open in 2023 in Bangkok. The menu in Thailand will feature signature items, including the ShackBurger, Chicken Shack, and Chicken…

Benzinga

Read How Adidas Fared In Q4

Adidas AG (OTC:ADDYY) reported a fourth-quarter FY21 sales decline of 0.1% year-on-year, to €5.1 billion. Currency-neutral revenues in Q4 declined 3%. Supply shortages due to the lockdowns in Vietnam, challenging market environment in Greater China, and COVID-19 related lockdowns in Asia-Pacific reduced revenue growth by more than €400 million in Q4. Currency-neutral revenues…

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