Posts by Mark Darwin
UBS quarterly profit smashes expectations, US$3 billion buyback unveiled
UBS Group, Switzerland’s largest bank, on Tuesday (Feb 4) posted net income of US$770 million for the fourth quarter of 2024, trouncing forecasts. The net profit attributable to shareholders compared with an average estimate of US$483 million in a company-provided poll of analysts. The lender also announced a share buyback programme of up to US$3…
Read MoreGrab weighs takeover of rival GoTo at US$7 billion valuation
GRAB Holdings and GoTo Group have accelerated merger talks and are targeting a deal this year, seeking to end years of losses in South-east Asia’s competitive Internet market. The takeover could see a valuation of over US$7 billion, Bloomberg reported. One scenario being discussed is an all-stock purchase valuing shares of Indonesia’s GoTo at more…
Read MoreAI and more: These tech firms top the list of Singapore’s 100 fastest-growing companies
A good variety of sectors are in a list of 100 fastest-growing companies based in in Singapore, going by a study done by The Straits Times and Germany-based global research firm Statista. They span fintech and financial services, real estate, advertising and marketing, construction and engineering, and more. The annual list consists of 100 companies…
Read MoreNippon, US Steel say Biden blocked merger amid ‘sham’ review
NIPPON Steel and United States Steel claimed former President Joe Biden unfairly prejudged their US$14.1 billion merger and gave the companies no chance for feedback on a “sham” national security review before he blocked the deal. The steel makers, which sued last month, said in an opening brief on Monday (Feb 3) that the Committee…
Read MoreGold holds steady near all-time high amid US tariff concerns
GOLD prices on Tuesday (Feb 4) hovered near a record high scaled in the prior session, as investors fretted that US President Donald Trump’s tariffs on Canada, China, and Mexico will fuel inflation and hinder economic growth. Spot gold edged up 0.1 per cent to US$2,816.64 per ounce by 0052 GMT, after hitting a record…
Read MoreSingapore finds its seat at the China+1 table
FOR multinationals looking to reduce their reliance on China, the top alternative locations in Asia so far have been Vietnam and Indonesia. Both economies have witnessed a boom in exports and foreign investments over the past few years. But now someone new wants to play: Singapore. To gauge the city’s seriousness, look no further than…
Read MoreMUFG looks beyond record profits to win global investors
AS JAPAN’S biggest bank heads for record profit that surpasses even its own projections, one thing is on the mind of its chief financial officer: what to do with all those extra earnings and how to make the good times last. Mitsubishi UFJ Financial Group (MUFG) is set to report fiscal third-quarter results on Tuesday…
Read MoreApple blasts EU app laws after first porn app comes to iPhones
From the beginning of the App Store in 2008, Apple executives have banned porn from its platform APPLE lambasted the EU’s Digital Markets Act after the first known porn app for the iPhone arrived on the company’s devices in the region. The app, called Hot Tub, is available in the EU via AltStore PAL, a…
Read MoreCapitaLand Investment to seed future data centre fund with US$700m investment in Japan
It is making disciplined acquisitions without acting like ‘a kid in a toy store’, says CLI’s Manohar Khiatani ASSET manager CapitaLand Investment (CLI) will invest more than US$700 million in a freehold land parcel in Osaka, Japan, to develop a data centre with 50 megawatts (MW) of capacity. The company announced on Tuesday (Feb 4)…
Read MoreThe Real Cost of Starting a Business in 2025
Starting a business in 2025 might sound exciting, but let’s face it, it can be a real wallet-drainer. You’ve got your obvious costs, like rent and supplies, but then there are those sneaky expenses that pop up out of nowhere. And don’t even get me started on the costs that vary depending on where you…
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