Posts by Mark Darwin
Meta lays off more than 100 employees across Reality Labs unit
[SAN FRANCISCO] Meta Platforms is laying off more than 100 people across its Reality Labs division focused on creating virtual reality (VR) and wearable devices, according to a source familiar with the matter. The latest round of job cuts impacted Reality Labs staff focused on creating VR experiences for Meta’s Quest headsets, as well as…
Read MoreEurope: Stoxx 600 up as automakers, materials gain; Trump policy shifts in focus
[BENGALURU] European shares ended higher on Thursday (Apr 24), boosted by automakers and materials stocks, as investors digested a mixed set of corporate earnings and evaluated the ever-shifting US trade rhetoric. The pan-European Stoxx 600 index erased earlier losses to close 0.4 per cent higher, building on this week’s rally. An index of automobiles and…
Read MoreRenault to cut costs as US tariffs lash car market
[PARIS] French carmaker Renault said on Thursday (Apr 24) it will seek to further cut costs as US tariffs shake up the global car market. Renault does not sell cars in the United States, so it will not be directly affected by the 25 per cent levy imposed on vehicles built in Europe, but the…
Read MoreSats appoints new group CFO as part of leadership renewal
[SINGAPORE] In-flight caterer and ground handler Sats said on Thursday (Apr 24) that it has appointed a new chief financial officer as part of its leadership renewal. The company named Timothy Tang as group CFO-designate as part of its succession plans and “continuous renewal of its senior management team”. Tang was chief financial officer at…
Read MoreCapitaLand India Trust Q1 total property income up 14% at 4.7 billion rupees
[SINGAPORE] CapitaLand India Trust (Clint) posted a total property income of 4.7 billion rupees (S$74.6 million) for its first quarter ended Mar 31, 2025, up 14 per cent from the 4.2 billion rupees in the same period a year earlier. This was due to higher rental income from existing properties and income contributions from the…
Read MoreCars didn’t arrive after months – so Singapore dealer for China EV brand Neta closed: sources
[SINGAPORE] Evology Automobile – the dealer/distributor for China automotive brand Neta – closed abruptly earlier this month after the expected delivery of the cars did not take place, The Business Times learnt. Industry sources told BT Evology’s management decided not to continue operations when its initial shipment of Neta cars did not arrive after months…
Read MoreCars didn’t arrive after months – so Singapore dealer for China EV brand Neta closed: sources
[SINGAPORE] Evology Automobile – the dealer/distributor for China automotive brand Neta – closed abruptly earlier this month after the expected delivery of the cars did not take place, The Business Times learnt. Industry sources told BT that Evology’s management decided not to continue operations when its initial shipment of Neta cars did not arrive after…
Read MoreRevolut Singapore in the black, targets South-east Asia
[SINGAPORE] Neobank Revolut announced that its Singapore operations turned profitable, amid a continuing streak in the black for the wider company in its annual report released on Thursday (Apr 24). Its earnings grew to S$1.4 billion for FY2024 ended Dec 31, up from S$587.9 million in FY2023. Interest income rose 58 per cent from S$853.9…
Read MoreVietnam Airlines signs funding deal with Vietcombank for 50 narrow-body planes
Published Thu, Apr 24, 2025 · 01:21 PM [HANOI] Flag-carrier Vietnam Airlines said on Thursday (Apr 24) it had signed a memorandum of understanding with the country’s top lender Vietcombank for funding to purchase 50 narrow-body planes. The plane purchases are part of Vietnam Airlines’ fleet development strategy for the next decade, it said. “The…
Read MoreKeppel posts more than 25% jump in Q1 net profit, expects limited direct tariff impact
[SINGAPORE] Keppel’s net profit rose more than 25 per cent for the first quarter ended March, driven by improvements in its real estate and asset management arms. These profits, compared to Q1 in 2024, exclude legacy offshore and marine assets such as shares of Seatrium and legacy rigs remaining from the company’s divestment of its…
Read More