Company briefs

PHOTO: AGENCE FRANCE-PRESSE

UOB 

The bulk of United Overseas Bank's 26,000-strong workforce will have the option to work remotely two days a week once Covid-19 restrictions are lifted.

This follows a six-month review of the bank's work patterns, workspaces and workforce technology tools, where 65 per cent of bank roles - all of which are non-customer-facing - were assessed to be suited to remote working. The bank took in feedback from its employees across its global network on the strains of having their homes turned into their offices during the Covid-19 pandemic. The move is also in line with broader community sentiment.

THE BUSINESS TIMES


Walt Disney 

Walt Disney on Thursday said it swung to a loss in the just-ended quarter as the global pandemic hit its theme parks and cinema operations.

The media entertainment powerhouse reported a loss of US$710 million (S$958 million) in the period ending Oct 3, compared with a US$777 million profit in the same period a year ago. Revenue slumped 23 per cent from last year to US$14.7 billion. But Disney shares jumped in after-hours trade on news that its streaming television service Disney+ had hit 73 million subscribers in a positive sign as it shifts to compete with rivals like Netflix.

AGENCE FRANCE-PRESSE


Manulife Financial

Manulife Financial doubled its market share in the third quarter in an "exceedingly resilient" Hong Kong from a year earlier, despite challenging conditions, executives said on Thursday after the company's earnings beat analyst estimates.

Canada's biggest life insurer is focusing on acquisition opportunities in Asia and its wealth and asset management business, which helped drive its better-than-expected performance during the quarter, said chief executive Roy Gori.

Manulife has about C$32 billion (S$32.9 billion) of excess capital it can deploy.

REUTERS

A version of this article appeared in the print edition of The Straits Times on November 14, 2020, with the headline 'Company briefs '. Print Edition | Subscribe