Company briefs: Mastercard
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Mastercard
Mastercard is set to face a £14 billion (S$26.1 billion) class action over its payment fees after a London tribunal gave the group bringing the suit the green light to proceed.
The Competition Appeal Tribunal ruled on Wednesday in favour of Mr Walter Merricks, the former head of the British Financial Ombudsman Service, saying that he can represent some 46 million consumers. Still, the judges stopped short of allowing him to add dead individuals to the lawsuit, which would have boosted the class size to almost 60 million people.
BLOOMBERG
Toyota Motor
Toyota Motor Corp will reduce global production for September by 40 per cent from its previous plan, the Nikkei business daily reported yesterday, due to critical shortages of semiconductors.
Shares in the world's largest automaker by sales volume slid on the report, ending down 4.4 per cent in their biggest daily drop since December 2018.
A company representative said checks were being made on the report.
REUTERS
Shanaya Environmental Services
Ship waste management company Shanaya Environmental Services debuted on the Catalist board yesterday following the completion of the reverse takeover of CPH, a printed circuit board company, a day earlier.
Shanaya shares opened at 22 cents, down 17 per cent from its adjusted closing price of 26.5 cents on Wednesday. This gives it a market capitalisation of about $25 million.
The stock closed at 22.5 cents yesterday.
THE BUSINESS TIMES
