Posts by Mark Darwin
HSBC plans biggest investment banking retrenchment in decades
HSBC plans to wind down its M&A and some equities businesses in Europe and the Americas, the bank said on Tuesday (Jan 28), accelerating a shift to Asia in its biggest retrenchment from investment banking in decades. “Our intention is to move to a more competitive, scalable, financing-led model,” Michael Roberts, CEO of HSBC Bank…
Read MoreMicrosoft shares slide as cloud forecast, AI spending disappoint
MICROSOFT on Wednesday (Jan 29) forecast disappointing growth in its cloud computing business, sending its shares down more than 5 per cent as investors worry about big spending, elusive artificial intelligence (AI) revenue and growing competition from cheaper AI models from China. Azure results for the fiscal second quarter also fell below Wall Street expectations.…
Read MoreLas Vegas Sands misses profit estimates on weakness in Macau business
CASINO operator Las Vegas Sands missed analysts’ estimates for fourth-quarter profit on Wednesday (Jan 29), hurt by tepid performance of its Macau business. The Las Vegas, Nevada-based company had previously flagged that it was seeing slowing growth in its integrated resorts and casino business at Macau properties, including the Venetian Macao, which contribute a major…
Read MoreTikTok bidders to offer ‘significantly’ more than US$20 billion
A GROUP of American investors vying to buy TikTok with support from top YouTuber MrBeast has secured more than US$20 billion for their offer, according to Jesse Tinsley, the tech entrepreneur organising the bid. The group has also recruited two additional tech chief executive officers as investors, including Roblox co-founder and CEO David Baszucki and…
Read MoreWolfspeed beats Q2 revenue as business transition takes hold
CHIPMAKER Wolfspeed topped Wall Street estimates for second-quarter revenue and reported a smaller-than-expected net loss on Wednesday (Jan 29), as the company made operational changes to accelerate its profitability. The company closed down some of its facilities in the first quarter of 2025 and transitioned its device business to a 200-millimetre silicon carbide fab, which…
Read MoreTexas Business Boom: Start Your LLC Without the Headache
Thinking about starting a business in Texas? You’re not alone. With its booming economy and business-friendly climate, Texas is a top choice for entrepreneurs looking to form an LLC. But where do you start? The process can seem overwhelming, but it doesn’t have to be. This guide will walk you through the benefits of a…
Read MoreWorld’s richest people lose US$108 billion after DeepSeek selloff
The world’s 500 richest people, led by Nvidia Corp co-founder Jensen Huang, lost a combined US$108 billion on Monday (Jan 27) as a tech-led selloff tied to Chinese AI developer DeepSeek sent major indices plunging. Billionaires whose fortunes are linked to artificial intelligence were the biggest losers: Huang saw his fortune fall US$20.1 billion, a…
Read MoreVibrant Group wins suit against former Blackgold management
Justice Valerie Thean rules in its favour, awarding damages and fees to the group VIBRANT Group has won its civil suit against Peng Yuguo, former chief executive officer of Blackgold Australia, and Tong Chi Ho, the former chairman of Blackgold Australia. The suit arose from irregularities found by a special audit on Chinese coal miner…
Read MoreDBS raises stake in Shenzhen Rural Commercial Bank
SINGAPORE’S largest lender DBS Bank has acquired an additional stake in Shenzhen Rural Commercial Bank (SRCB), increasing its stake from 16.7 per cent to 19.4 per cent, it announced in a bourse filing on Monday (Jan 27). The investment is said to be in line with DBS Group’s strategy to invest in its core markets…
Read MoreDemand falls for latest Singapore Savings Bond with 10-year average return of 2.82%
THE latest Singapore Savings Bond (SSB) allotted on Monday (Jan 27) saw a fall in applications to less than half of the amount offered, as the 10-year average return slipped from the earlier tranche. The February tranche of the Singapore government-backed bonds received a total of S$236.5 million in applications for the S$500 million that…
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