Posts by Mark Darwin
Trump team seeks to toughen Biden’s chip controls over China
DONALD Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts…
Read MoreYangzijiang Shipbuilding dives 11% to S$2.66 after US proposed fees for Chinese-built ships
SHARES of maritime vessel maker Yangzijiang Shipbuilding fell on Tuesday (Feb 25) morning amid news of the Trump administration’s proposed imposition of fees for Chinese-built vessels entering US ports. At 9.35 am, the counter was down S$0.33 or 11 per cent at S$2.66, with 29.7 million securities changing hands. The last time it traded at…
Read MoreYangzijiang Shipbuilding dives further after US proposed fees for Chinese-built ships
SHARES of maritime vessel maker Yangzijiang Shipbuilding tumbled further on Tuesday (Feb 25) in early trade, after the US Trade Representative (USTR) office proposed to slap fees on Chinese-built vessels entering US ports. At 11.21 am, the counter was down 12.7 per cent or S$0.38 at S$2.61, with nearly 57 million shares switching hands. The last…
Read MoreBank of Korea cuts rate to boost demand as Trump tariffs threaten exports
THE Bank of Korea (BOK) cut its benchmark interest rate in a widely expected move to support an economy jolted by political turmoil and threatened by the trade impact of Donald Trump’s tariff plans. The central bank lowered its seven-day repurchase rate by a quarter-percentage point to 2.75 per cent on Tuesday (Feb 25). The…
Read MorePropNex H2 profit down 14.9% at S$21.9 million; proposes special S$0.025 per share anniversary dividend
REAL estate agency PropNex reported a 14.9 per cent year-on-year fall in net profit for its second half ended Dec 31 to S$21.9 million, from S$25.8 million. Its revenue was down 7.7 per cent at S$437.4 million from S$473.8 million in the previous corresponding period, based on the company’s financial results released on Tuesday (Feb…
Read MoreBrookfield makes US$1.7 billion bet on power needs by AI, data
BROOKFIELD Asset Management agreed to spend US$1.7 billion in a deal to expand its US onshore renewables business as the company bets there will be increasing demand for electricity from data centres and artificial intelligence (AI). The transaction with the UK’s National Grid indicates investors are still confident in robust power consumption growth from technology…
Read MoreChevron reorganises business structure, reshuffles leadership
CHEVRON said on Monday it would reorganise some of its business structures and reshuffle the leadership team, the latest move by the US energy major to simplify its operations. The company has said it would lay off up to 20 per cent of its global workforce by the end of 2026, as it navigates cost…
Read MoreStarbucks cuts 1,100 corporate jobs in bid to speed turnaround
STARBUCKS is eliminating 1,100 corporate jobs in a move aimed at increasing efficiency and quickly enacting changes to revitalise the company. The cuts represent about 7 per cent of the global employee base working outside of company-owned stores. Starbucks does not disclose how many corporate workers it has, and the bulk of its employees around…
Read MoreApple plans Texas factory for AI servers, 20,000 research jobs
APPLE on Monday (Feb 24) said it plans to help bring online a quarter-million-square-foot factory in Texas by 2026 to build artificial intelligence servers and will add about 20,000 research and development jobs across the US Apple said that it plans to spend US$500 billion in the US over the next four years, though that…
Read MoreSingapore shares slip on Monday after MAS unveils stock market measures; STI down 0.1%
Across the broader market, gainers beat losers 298 to 286, after 1.4 billion securities worth S$1.7 billion change hands SINGAPORE stocks closed marginally lower at the end of the first trading session since the Monetary Authority of Singapore (MAS) unveiled plans to boost the stock market. The benchmark Straits Times Index (STI) dipped 0.1 per…
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