Posts by Mark Darwin
HSBC launches US$3 billion buyback after Q1 profit drops 25%, raises tariff alarm
[HONG KONG] HSBC launched a US$3 billion share buyback after reporting a 25 per cent fall in first-quarter profit on Tuesday (Apr 29), and warned of a possible hit to loan demand and credit quality in the face of US President Donald Trump’s global trade war. The London-based bank reported first quarter profit before tax…
Read MoreSome Chinese exporters hasten US dollar conversion amid trade war
[NEW YORK] Some Chinese exporters are speeding up the conversion of their US dollar income into yuan on bets the worst of the tariff-led loss in the local currency may be over. In a Bloomberg survey of 18 Chinese exporters this month, all of them said they’d already converted, or will immediately switch, their greenback…
Read MoreIndonesian bonds set for first foreign outflows in five months
[JAKARTA] Indonesia’s sovereign bond market is on course for its first monthly foreign outflows of the year as economic instability and a falling rupiah erode investor confidence. Foreign investors have net sold US$221 million worth of government debt this month, putting the market on track for its first outflow since November, according to Finance Ministry…
Read MoreFrasers Centrepoint Trust posts 0.5% rise in H1 DPU to S$0.06054
[SINGAPORE] Frasers Centrepoint Trust (FCT) on Tuesday (Apr 29) posted a 0.5 per cent increase in distribution per unit (DPU) for the first half ended Mar 31 to S$0.06054, from S$0.06022 in the same period a year before. The DPU for H1 2025 will be paid on May 30, said the manager. Earlier on Mar…
Read MoreSony weighs chip spinoff that Dan Loeb called for years ago
For the chip business, which makes industry-leading image sensors that go into cameras inside Apple and Xiaomi phones, a spinoff could give it greater flexibility to make faster business decisions and raise funds Published Tue, Apr 29, 2025 · 08:09 AM [NEW YORK] Sony Group is considering spinning off its semiconductor unit, according to sources…
Read MoreTrump to reduce impact of auto tariffs, Commerce secretary says
[WASHINGTON] US President Donald Trump’s administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said. “President Trump is building an important partnership with both the domestic automakers and…
Read MoreS&P removes Boeing’s rating from CreditWatch negative on improving aircraft production
Published Tue, Apr 29, 2025 · 06:59 AM S&P has removed Boeing’s rating from CreditWatch negative on improving aircraft production and lower cash burn, the global ratings agency said on Monday. The US planemaker’s rating was placed on CreditWatch negative after about 33,000 of its workers went on a strike, which halted production of its…
Read MoreMastercard adds stablecoin settlement support for merchants
The firm already partners with numerous crypto firms including MetaMask on crypto-enabled debit cards Published Tue, Apr 29, 2025 · 06:22 AM [NEW YORK] Mastercard announced that it will give merchants the option to receive payments in stablecoins amid increasing global regulatory clarity on the digital assets that are usually pegged to fiat currencies. In…
Read MoreUS: Stocks little changed as market awaits big tech results
Published Tue, Apr 29, 2025 · 06:13 AM [NEW YORK] Wall Street stocks finished little changed on Monday in the first day of a news-jammed week that includes earnings from several tech giants and major economic data releases. Major indices meandered in and out of positive territory in a session devoid of the major economic news catalysts…
Read MoreStoneweg Reit signs lease and upgrade deals with NN Group for office building in The Hague
[SINGAPORE] Stoneweg European real estate investment trust (Reit) has signed a 20-year lease renewal with NN Group for Haagse Poort, a distinctive-looking office building in the central business district of The Hague in the Netherlands. The Reit said in a bourse filing on Monday (Apr 28) that this lease renewal will be effective no later…
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