Posts by Mark Darwin
Cost to ship goods from China jumps as tariff truce spurs demand
The cost for a 40-foot container from Shanghai to Los Angeles has jumped 15.6 per cent from the prior week to US$3,136, the biggest gain in percentage terms since December Published Fri, May 16, 2025 · 07:51 AM [LONDON] Spot container rates to ship goods to the US from China jumped by the most this…
Read MoreGeely appoints Zeekr head as new group CEO in shakeup
[HONG KONG] Billionaire Li Shufu is shaking up his sprawling Geely auto empire, lining up a new chief executive weeks after a shock move to take its US-listed premium electric car brand Zeekr private. Andy An, Zeekr’s CEO, will also head parent Zhejiang Geely Holding Group after the subsidiary’s privatisation by Geely Automobile Holdings is…
Read MoreEurope: Stoxx 600 recovers declines; defence stocks gain after Russia-Ukraine meet
EUROPEAN shares reversed early declines to close higher on Thursday, with industrial stocks getting the biggest boost, while corporate earnings remained in the spotlight. The continent-wide Stoxx 600 index closed 0.56 per cent higher at 546.95. Most major regional indexes were higher, with Germany’s up 0.7 per cent. Russian President Vladimir Putin spurned a challenge to…
Read MoreAmara loses free float, trading to be suspended
[SINGAPORE] The mandatory cash offer for hotel group Amara by a consortium led by property company Hwa Hong has turned unconditional. As at 6 pm on Thursday (May 15), the total number of shares owned, controlled or agreed to be acquired by the offeror together with valid acceptances of the offer amounted to 522,529,331 shares,…
Read MoreUS: Wall St opens lower as trade truce rally fades
Published Thu, May 15, 2025 · 09:46 PM [WASHINGTON] Wall Street’s main indexes opened lower on Thursday (May 15) as euphoria from the US-China tariff truce waned, while UnitedHealth’s stock was pressured following a report that the DOJ was investigating the health insurer for fraud. The Dow Jones Industrial Average fell 273.1 points, or 0.65…
Read MoreJapan’s megabanks forecast more record profits despite tariff uncertainty
[TOKYO] Japan’s three largest banking groups posted record annual net profit in the last financial year, benefitting from increased corporate activity due to the end of deflation in Japan. The banks also expect to increase earnings this financial year – forecasting record profits once again – even though the economic outlook has been muddied by…
Read MoreSats to invest over S$250 million to upgrade operations, cargo handling infrastructure at Changi Airport
These strategic initiatives will also enhance operational reliability and safety, and optimise turnaround times [SINGAPORE] Catering and ground handling company Sats announced on Thursday (May 15) that it will invest over S$250 million to upgrade its ground operations and cargo handling infrastructure at Changi Airport. These strategic initiatives will enhance operational reliability and safety, optimise…
Read MoreSIA posts 65% rise in net profit to S$2 billion for H2 FY25 on non-cash gain
[SINGAPORE] Singapore Airlines (SIA) posted a 65 per cent surge in net profit to S$2 billion for the second half of FY2025 ended March, boosted by the non-cash accounting gain from the Air India-Vistara merger. In 2024, Vistara was merged with Air India, resulting in SIA holding a 25.1 per cent share in the merged…
Read MoreSGX RegCo consults on regulatory changes to streamline IPO rules
[SINGAPORE] Listed issuers on the Singapore Exchange (SGX) will be expected to take on a more proactive role in providing timely and relevant disclosures, focusing on material information rather than following prescriptive requirements. The change comes as the Singapore Exchange Regulation (SGX RegCo) seeks market feedback on the proposed regulatory changes aimed at transitioning to…
Read MoreUK insurer Aviva reports 9% rise in Q1 general insurance premiums
The company reported £2.9 billion in general insurance premiums for the quarter ended March 31 Published Thu, May 15, 2025 · 02:41 PM [LONDON] Insurer Aviva reported a 9 per cent rise in first-quarter general insurance premiums on Thursday (May 15) on strong growth in both personal and commercial lines in Britain, driven by the…
Read More