Posts by Mark Darwin
Companies face new reality of Trump tariff chaos
[FRANKFURT/SHANGHAI/NEW YORK] Now that the US has instituted broad tariffs worldwide, businesses will be forced to adjust – but the options to cope with the greater-than-expected levies are limited and unpalatable for companies and their customers. US President Donald Trump ramped up his trade war against the globe on Wednesday (Apr 2) with tariff rates…
Read MoreStarbucks faces new hot spill lawsuits weeks after US$50 million ruling
[LOS ANGELES] Starbucks was facing two new lawsuits over spilled hot drinks on Wednesday (Apr 2), just weeks after a court ordered the coffee giant to pay US$50 million to a man who was injured by a cup of tea. Both suits were lodged in California, and seek damages over what they say are problems…
Read MoreSafe-haven gold hits record peak as Trump announces sweeping tariffs
[BENGALURU] Gold hit a record high on Thursday (Apr 3), as nervous investors rushed towards safe-haven assets after US President Donald Trump announced more aggressive-than-anticipated tariffs against major trading partners, widening the global trade war. Spot gold was up 0.4 per cent at US$3,145.93 an ounce, as at 0018 GMT, after hitting an all-time high…
Read MoreOCBC prices 500 million euro bonds due 2028 at 2.481%
[SINGAPORE] OCBC said on Thursday (Apr 3) that it has priced 500 million euros (S$733.8 million) in fixed-rate covered bonds due 2028. The covered bonds will bear interest at a fixed rate of 2.481 per cent per annum, payable annually in arrears. The net proceeds will be used for general corporate purposes, said OCBC. The…
Read MoreOracle tells clients of second recent hack, log-in data stolen
[NEW YORK] Oracle has told customers that a hacker broke into a computer system and stole old client log-in credentials, according to two sources familiar with the matter. It’s the second cybersecurity breach that the software company has acknowledged to clients in the last month. Oracle staff informed some clients this week that the attacker…
Read MoreOil prices fall into negative territory as Trump announces new tariffs
[NEW YORK] Oil prices fell to negative territory after rising by a US dollar in post-settlement trade on Wednesday (Apr 2) as US President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures settled 46 US cents higher, or 0.6 per cent,…
Read MoreM&A Process: Mastering Due Diligence in Every Acquisition
Are you currently about to embark on a merger or acquisition journey? Congratulations! It’s a thrilling ride that can shape the future of your business. But hold your horses – before you pop the champagne, there’s a crucial pitstop you can’t afford to overlook: Due Diligence. Buckle up as we explore the essential steps in…
Read MoreUS: Wall St tumbles at open as Trump tariffs loom
[NEW YORK] US stock indexes opened sharply lower on Wednesday (Apr 2) as investors awaited details of US President Donald Trump’s tariffs to assess their impact on the global economy, corporate earnings and inflation. The Dow Jones Industrial Average fell 342.35 points, or 0.82 per cent, to 41,647.61, the S&P 500 fell 57.65 points, or…
Read MoreDollar dips as Trump tariff plan keeps traders on edge
[SINGAPORE] The dollar slipped and other currencies held in tight ranges on Wednesday (Apr 2) as traders awaited details of US President Donald Trump’s plans for tariffs, which could upend the global trading system and shake financial markets. The euro last bought US$1.0802, while sterling fetched US$1.2941, both rising a touch ahead of a White…
Read MoreNext generation of ultra-rich to spur take-up of donor-advised funds: Citi
[SINGAPORE] The next generation of ultra-high-net-worth (UHNW) individuals will likely boost the uptake of donor-advised funds (DAFs) to meet their philanthropic needs. Karen Kardos, head of philanthropic advisory at Citi Private Bank, noted that younger family members may not always have the same interests as their parents or grandparents. This is where DAFs can be…
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