Posts by Mark Darwin
Singapore shares end higher on Tuesday ahead of FOMC meeting; STI up 0.2%
Singtel is the top gainer on the benchmark index while Yangzijiang Shipbuilding, which is trading ex-dividend, falls the most [SINGAPORE] Stocks on the local bourse ended higher on Tuesday (May 6), ahead of the next US central bank meeting where policymakers are expected to keep interest rates on hold. The benchmark Straits Times Index (STI)…
Read MoreDoorDash agrees to buy Deliveroo in US$3.9 billion deal
Published Tue, May 6, 2025 · 03:30 PM [LONDON] DoorDash has agreed to buy UK-based food-delivery platform Deliveroo for an equity value of about US$3.9 billion, as the US company pushes into more overseas markets. DoorDash has offered 180 pence in cash for each Deliveroo share, the company said in a statement on Tuesday (May…
Read MoreJapan’s SMFG said to be in talks to buy minority stake in India’s Yes Bank
Published Tue, May 6, 2025 · 01:02 PM [MUMBAI] Sumitomo Mitsui Financial Group (SMFG), Japan’s second-biggest lender, is in talks to buy a significant minority stake in India’s Yes Bank, according to sources familiar with the matter. A potential offer for a stake in the Mumbai-based bank will likely be determined by market prices, the…
Read MoreIncome-Allianz deal timeline: A recap of the proposed S$2.2 billion sale
[SINGAPORE] The proposed S$2.2 billion deal involving the sale of Singapore’s Income Insurance to German insurer Allianz – which the government eventually called off – was a major talking point during the 2025 General Election campaigning. Here is a recap of what happened: Jul 17, 2024: Allianz offered to buy a majority stake in Income…
Read MoreServiceNow eyes US$1 billion revenue for AI product by 2026
The company makes software applications that help companies organise and automate their personnel and information technology operations Published Tue, May 6, 2025 · 11:02 AM [NEW YORK] ServiceNow said its flagship artificial intelligence (AI) software product will hit US$1 billion in annual contracted business by next year. The new 2026 guidance for the generative AI…
Read MoreGold hits one-week high on safe-haven demand, Fed decision loom
Published Tue, May 6, 2025 · 10:01 AM [BENGALURU] Gold prices climbed to a one-week high on Tuesday (May 6) as rising concerns over US President Donald Trump’s tariff plans boosted safe-haven demand, while investors also kept a close tab on the upcoming Federal Reserve policy meeting. Spot gold rose 0.1 per cent to US$3,337.69…
Read MoreShein, Temu ramp up advertising in UK and France as US tariffs hit
[NEW YORK] Shein and Temu, fast-fashion e-commerce platforms that ship merchandise from China, boosted their spending on digital ads in Europe in April, data from market intelligence firm Sensor Tower showed, a shift away from the US where the companies face crushing tariffs. Shein and Temu’s ad spending rose the most in France and the UK compared to…
Read MoreGoogle has launched new film and TV production wing: Business Insider
[BENGALURU] Google has launched a new film and TV production initiative to scout projects it could fund or co-produce, Business Insider reported, a move that could help it capitalise on an industry reeling from rising production costs and potential US tariffs. The initiative, called “100 Zeros”, is a multi-year partnership with Range Media Partners, a…
Read MoreOpenAI dials back conversion plan, nonprofit to retain control
OPENAI has dialled back a significant restructuring plan, with its nonprofit parent retaining control in a move that is likely to limit CEO Sam Altman’s power over the pioneering maker of ChatGPT. The announcement follows a storm of criticism and legal challenges, including a high-profile lawsuit filed by rival and co-founder Elon Musk, who has…
Read MoreUS dollar’s fall in Asia stuns investors, spreads across globe
[NEW YORK] The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets. Already under pressure as US President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on Monday (May…
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