Posts by Mark Darwin
A month after Trump’s tariff madness, shock waves are still being felt around the world
IF US President Donald Trump’s sole intention was to tank the US economy, he could not have done a more efficient job of it than his recent actions that have effectively caused a global trade war. US stocks and bonds immediately went into a tailspin after Trump announced sweeping tariffs on Apr 2, and have been…
Read MoreTesla board looked for new CEO as Musk focused on White House: WSJ
[BENGALURU] Tesla board members reached out about a month ago to several executive search firms to find a successor to CEO Elon Musk, The Wall Street Journal (WSJ) reported on Wednesday (Apr 30), citing sources familiar with the discussions. The current status of the board’s push, which, according to the report, was sparked by Musk’s…
Read MoreRobinhood tops quarterly profit estimates as volatility fuels trading volumes surge
[BENGALURU] Retail trading platform Robinhood’s first-quarter profit more than doubled and beat analysts’ estimates on Wednesday (Apr 30), driven by a surge in trading volumes from clients looking to hedge their positions amid choppy markets. The company’s transaction-based revenue, or income generated from fees for facilitating trading in options, cryptocurrency and equities, jumped 77 per…
Read MoreUber Mideast unit delivers gold coins to doorsteps in Dubai
[DUBAI] Dubai residents can now have 24-carat gold coins delivered to their homes in less than an hour as super app Careem targets millions of Indians in the United Arab Emirates. Dubai-based Careem Technologies, a spin-out from Uber Technologies’ Middle Eastern subsidiary, has launched a campaign that allows users to buy up to 10,000 dirhams…
Read MoreCanadian firm advances deal talks for Japan’s Seven & i with access to books
[TOKYO] Alimentation Couche-Tard (ACT) and Japan’s Seven & i said that they have signed a non-disclosure agreement (NDA) that will give the Canadian company access to the Japanese retailer’s financial data as it seeks a US$47 billion acquisition. The move represents significant progress in takeover talks for Couche-Tard, which operates Circle-K convenience stores in Canada…
Read MoreeBay announces CFO transition; sees quarterly revenue ahead of estimates
The company’s use of generative artificial intelligence, including its “magical” listing tool, and improvements in search and targeted advertising are helping simplify both selling and buying for the platform’s users Published Thu, May 1, 2025 · 06:55 AM [MEXICO CITY] E-commerce firm eBay said on Wednesday (Apr 30) that its chief financial officer Steve Priest…
Read MoreUS: Stocks end mostly up, rebounding from bad GDP report
Published Thu, May 1, 2025 · 06:07 AM [NEW YORK] Wall Street stocks finished mostly higher on Wednesday (Apr 30) after digesting a poor US GDP reading that was offset by solid consumer spending data. Markets opened sharply lower after government data showed the US economy shrank by an annual rate of 0.3 per cent…
Read MoreUS: Wall Street tumbles at the open as US economy contracts in first quarter
Published Wed, Apr 30, 2025 · 09:49 PM [NEW YORK] Wall Street’s main indexes opened sharply lower on Wednesday (Apr 30) after data showed the world’s largest economy contracted in the first quarter, amplifying worries about the economic hit from President Donald Trump’s tariff policies. The Dow Jones Industrial Average fell 237.2 points, or 0.59…
Read MoreSasseur Reit CEO Cecilia Tan steps down
[SINGAPORE] Cecilia Tan, chief executive officer at Sasseur Asset Management, manager of Sasseur Real Estate Investment Trust (Reit), will be stepping down on Oct 28, after over four years in the role. In a bourse filing on Wednesday (Apr 30), the manager of the trust said Tan will be resigning to pursue other professional interests. …
Read MoreGoldman sees central banks buying more renminbi, won, Singapore dollars
[SYDNEY] South Korea, Singapore and China’s currencies are likely to be the biggest Asian beneficiaries as central banks look to diversify their reserves away from the US dollar, according to Goldman Sachs Group. While the greenback and euro remain pre-eminent reserve assets, there’s scope for central banks to boost their allocations to “non-traditional” peers as…
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