Posts by Mark Darwin
Yangzijiang 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…
Read MoreAdani plans 1.1 trillion rupees of new investments in India growth push
Billionaire Gautam Adani said his group is planning more than 1.1 trillion rupees (S$17 billion) of new investments in India, signalling the conglomerate’s focus on growing in its home market while fighting corruption charges in the US. This will fund projects ranging from pumped storage to cement and mining to smart-metres and thermal energy, Adani…
Read MoreChinese firms dump Europe for Hong Kong to raise funds
CHINESE companies that once pursued additional listings in Europe are abandoning those plans after Beijing’s securities regulator tightened some rules, pushing many issuers to sell shares in Hong Kong instead. Take Contemporary Amperex Technology Co Ltd (CATL). The car-battery giant considered selling at least US$5 billion of global depositary receipts in Switzerland, people familiar with…
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