Posts by Mark Darwin
HSBC unveils share buyback, cost cut targets as new CEO looks to boost returns
HSBC posted an annual profit on Wednesday (Feb 19) that beat estimates, helped by increased revenue in wealth and markets businesses, and set stiff cost-cut targets as its new CEO implements a revamp of the Asia-focussed bank to boost returns. The Asia-focused lender also announced a new US$2 billion share buyback which it plans to…
Read MoreCisco and IBM show old-school tech names can be AI winners too
WHILE many of the biggest and most popular technology stocks have stumbled out of the gates in 2025, some of the sector’s legacy names are drawing renewed attention. Companies such as Cisco Systems, International Business Machines (IBM), and Oracle are outperforming this year, as they signal that they, too, can be winners in the crucial…
Read MoreHong Kong expands virtual asset push with new licensing, trading options
HONG Kong is expanding the ways investors can trade virtual assets, its financial regulator said on Wednesday (Feb 19), as the city races to become Asia’s digital assets hub and attract capital. The Securities and Futures Commission will establish new licensing regimes for over-the-counter trading in virtual assets and for custody services, aiming to boost…
Read MoreBorrowing strain hits NAB’s Q1 profit, shares dive
NATIONAL Australia Bank, the country’s biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling. The result amounts to what Australian banks hope is the end of a tough period dominated by rising arrears and margin sacrifices…
Read MoreSingapore shares rise at Wednesday’s open; STI up 0.5%
SINGAPORE shares started trading in positive territory on Wednesday (Feb 19). As at 9 am, the Straits Times Index (STI) opened 0.5 per cent or 17.67 points higher at 3,943.23. Across the broader market, gainers outnumbered losers 54 to 36 after 22 million securities worth S$73.9 million changed hands. As at 9.01 am, among the…
Read MoreSingtel’s Q3 profit surges 183.4% to S$1.3 billion on exceptional gains
SINGTEL’S net profit for the third quarter ended Dec 31 climbed 183.4 per cent to S$1.3 billion from S$465 million in the same period the year before. This was mainly attributed to a net exceptional gain of S$639 million, compared to a net exceptional loss of S$94 million in the same period the previous year,…
Read MoreStocks to watch: UOB, Singtel, Parkson Retail Asia, Cordlife
THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 19). UOB: The lender on Wednesday posted a net profit of S$1.52 billion for the fourth quarter ended December, up 8.6 per cent from S$1.4 billion in the previous corresponding period. This included S$17 million in one-off expenses from…
Read MoreBP weighs sale of Castrol lubricants unit amid Elliott push
BP, IN which activist investor Elliott Investment Management has built up a nearly 5 per cent stake, is considering a potential sale of its lubricants business, according to sources familiar with the matter. The oil major’s unit, which operates under the Castrol brand, could be worth about US$10 billion in a deal, the sources said,…
Read MoreTrump floats 25% tariffs on cars, pharmaceuticals and chips
US PRESIDENT Donald Trump said on Tuesday (Feb 18) he intends to impose auto tariffs “in the neighbourhood of 25 per cent” and similar duties on semiconductors and pharmaceutical imports, the latest in a series of measures threatening to upend international trade. On Friday, Trump said levies on automobiles would come as soon as Apr…
Read MoreFinal curtain for Cathay Cineplexes at West Mall as struggling chain exits after settling S$12 million rent arrears
ROLL the end credits – beleaguered cinema chain Cathay Cineplexes is closing its West Mall outlet on Thursday (Feb 20), the same day its lease at the Bukit Batok shopping complex expires. The closure aligns with its strategy to “optimise its operational footprint”, said mainboard-listed media company mm2 Asia, which operates the cinema chain, in…
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