Posts by Mark Darwin
US: Nasdaq, S&P 500 open lower as Alphabet, AMD forecasts disappoint
THE tech-heavy Nasdaq led losses among the major Wall Street indexes at the open on Wednesday (Feb 5), following downbeat forecasts from Alphabet and AMD in a busy day for corporate earnings. The Dow Jones Industrial Average rose 7.6 points, or 0.02 per cent, at the open to 44,563.63. The S&P 500 fell 17.4…
Read MoreFrasers Hospitality Trust sees improved RevPAR in Q1 on sustained travel demand
FRASERS Hospitality Trust (FHT) recorded an increase in revenue per available room (RevPAR) across its portfolio in the first quarter ended Dec 31, 2024, on sustained travel demand for all its key markets. FHT is a stapled group comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust. All the stapled group’s key…
Read MoreChina mulling probe into Apple’s app store fees, practices, Bloomberg News reports
CHINA’S antitrust regulator is preparing for a possible investigation into Apple’s policies and app store fees, Bloomberg News reported on Wednesday (Feb 5), citing people familiar with the matter. The development comes a day after China announced a wide range of measures targeting US businesses including Google, farm equipment makers and the owner of fashion…
Read MoreGSK plans £2 billion share buyback, boosts long-term outlook
The buyback comes after GSK saw earnings per share, excluding some items, at 23.2 pence in the fourth quarter GSK plans to buy back £2 billion (S$3.4 billion) of shares as it raised its long-term growth outlook on optimism around its drug pipeline. The British drugmaker boosted its 2031 sales forecast to over £40 billion,…
Read MoreInvestors eye more share buybacks, special dividends as DBS, OCBC, UOB release Q4 earnings
The local banking trio are due to report their fourth quarter and full year 2024 results in February INVESTORS are keenly watching the capital management plans of the Singapore banks, which are expected to post yet another resilient set of results for the fourth quarter of 2024, analysts said. The local banking trio are due…
Read MorePhilippine central bank to take ‘measured approach’ in easing as inflation steadies
THE Philippine central bank will take a “measured approach” in easing policy rates, it said on Wednesday (Feb 5), as annual inflation held steady at 2.9 per cent in January, staying within its target range. The increase in the consumer price index (CPI) matched the previous month’s rate, but it was higher than the 2.7…
Read MoreCoinbase urges US regulators to clear path for banks to offer crypto services
The administration is expected to reshape US policy on digital currency, but US bankers have so far remained cautious on cryptocurrencies COINBASE Global on Tuesday (Feb 4) renewed its call for US banking regulators to clarify or revise their position on banks offering cryptocurrency services as well as potentially doing tie-ups with companies in the…
Read MoreGold hits record high as China-US tariff war drives safe-haven demand
GOLD prices touched an all-time-high on Wednesday (Feb 5), underpinned by safe-haven demand after China responded to US tariffs, which were initially imposed by President Donald Trump on the world’s largest consumer of gold. Spot gold was up 0.2 per cent at US$2,847.33 per ounce, as at 0044 GMT, after hitting a record high of…
Read MoreSingapore shares down on tariffs drag; STI dips 0.2%
SINGAPORE shares closed lower for the third consecutive day on Wednesday (Feb 5), after US President Donald Trump announced tariffs on China – the world’s second-largest economy and a key trading partner of Singapore. The Republic’s blue-chip barometer, the Straits Times Index (STI), slid 0.2 per cent or 7.64 points to 3,815.37, despite opening 0.2…
Read MoreGM’s Cruise to cut 1,000 jobs as robotaxi service shuts down
GENERAL Motors (GM) is cutting almost half of the workforce in the Cruise driverless car unit, according to an internal memo and sources familiar with the matter, part of a previously announced plan to halt robotaxi service and absorb the operations into its broader business. Several of Cruise’s leaders, including chief executive officer Marc Whitten,…
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