Posts by Mark Darwin
New Zealand central banker says inflation hit from higher tariffs ‘more ambiguous’
Since the start of April, global markets have been rocked by volatility, while policymakers have been grappling with heightened recession risks [WELLINGTON] Higher tariffs and uncertainty about global trade policy could result in weaker-than-expected economic activity worldwide and at home, a top New Zealand central banker said on Tuesday (Apr 15). “At this stage, the…
Read MoreChina suppliers mock tariffs with Nike, Lululemon deals on TikTok
[NEW YORK] TikTok users in the US are being inundated with videos from Chinese influencers encouraging American buyers to overcome punitive Trump tariffs by buying direct from the “world’s factory” – China. Mostly filmed at Chinese factories purporting to supply top US brands from Lululemon Athletica to Nike, the influencers aim to “expose” how the…
Read MoreLVMH sales fall as shoppers curb spending on luxury goods
[PARIS] LVMH sales fell more than expected in the first quarter, weighed down by weak demand for luxury goods in China and the US and the threat of a trade war. Revenue at the French luxury group’s fashion and leather goods division, its largest unit, dropped 5 per cent on an organic basis, LVMH Moet…
Read MoreNvidia to produce AI servers worth up to US$500 billion in US over four years
[BENGALURU] Nvidia said it is planning to build AI servers worth as much as US$500 billion in the US over the next four years with help from partners such as TSMC, the latest American tech firm to back the Trump administration’s push for local manufacturing. Monday’s (Apr 14) announcement includes production of its Blackwell AI…
Read MoreApple takes top spot for first-quarter smartphone sales, data shows
[NEW YORK] Apple took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16’s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday (Apr 14). Apple had 19 per cent of the smartphone market, despite flat or declining…
Read MoreGoldman Sachs’ profit jumps as traders deliver gains
[NEW YORK] Goldman Sachs reported a 15 per cent rise in first-quarter profit as market volatility led to record revenue in equities trading and boosted fixed income results. The Wall Street lender joined rivals JPMorgan Chase and Morgan Stanley in reporting higher profits. But investors have shifted their focus on to economic projections, which are…
Read MoreWilmar maintains innocence after Indonesian judges who acquitted it are arrested on corruption charges
[SINGAPORE] Wilmar International maintained its innocence after four judges who cleared it – as well as two other palm oil companies – in a corruption case related to obtaining export permits, were reportedly arrested. “We believe we are not guilty of the charges as our actions during that period to increase the supply of palm…
Read MoreSingapore shares and STI close higher on Monday, mirroring regional indices
Across the broader market, advancers outnumber decliners 377 to 181 after 1.1 billion shares worth S$1.4 billion change hands [SINGAPORE] The Straits Times Index (STI) closed higher, mirroring most regional indices on Monday (Apr 14). The STI closed up 1 per cent or 36.38 points to 3,548.91. Across the broader market, advancers outnumbered decliners 377…
Read MoreCiti transformation pays off amid tariff troubles, with room for optimism
[SINGAPORE] In 1902, Citi established an office in Singapore. Fast forward 123 years, Citi has thrived and grown along with Singapore and has a much larger presence here. But with US President Donald Trump imposing hefty tariffs right, left and centre, will banking and trade activities be derailed? When asked for his reaction to…
Read MoreThese China sectors and stocks are bucking the trend amid market volatility
[SINGAPORE] Global markets have been nothing but volatile on the back of tariff-induced swings – but China stocks were an outlier last week. From Apr 7, the Hang Seng Index and the CSI 300 Index were steadily rising even as other markets in the region were still volatile. The indices were up around 2.2 per…
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