Posts by Mark Darwin
Biden’s decision on US Steel deal followed divide in his orbit
TWO weeks after the US presidential election last November, hundreds of allies gathered at the White House to soothe Joe Biden in defeat. Tracking the closed-door bash for clues was a group rarely interested in the routine preening of Washington: arbitrage traders. The traders, who buy and sell the stock of companies in the middle of mergers…
Read MoreOil heads for weekly gains on colder weather, Chinese policy support
OIL prices rose on Friday (Jan 3), closing the week higher on the back of cold weather in Europe and the US as well as additional economic stimulus flagged by China. Brent crude futures settled 58 cents, or 0.8 per cent, higher at $76.51 a barrel, the highest level since Oct 14. US West Texas…
Read MoreUS: Wall St opens higher as markets await data, policy changes
WALL Street’s main indexes opened higher on Friday (Jan 3), as investors kept a close eye on upcoming economic data and geared up for potential policy shifts under the incoming Trump administration. The Dow Jones Industrial Average rose 103.5 points, or 0.24 per cent, at the open to 42,495.76. The S&P 500 rose 22.5…
Read MoreRolex kicks off 2025 by hiking watch prices after gold soars
ROLEX, the biggest luxury Swiss watch brand, raised prices on some of its most popular models after gold values surged in 2024. The Geneva-based company, controlled by a Swiss foundation named for its co-founder Hans Wilsdorf, began the year by hiking prices as much as 8 per cent on some models made from precious…
Read MoreCSE Global seeks to dispose US industrial property for US$29.3 million
Technology solutions provider says this would allow it to monetise asset and free up capital to help it expand in America CSE Global’s indirect wholly owned subsidiary, Volta Properties, entered a purchase and sale agreement with Gladstone Commercial on Dec 31 for the proposed disposal of an industrial property in the United States for US$29.3…
Read MoreComfortDelGro adds Toyota Alphard Hybrid models to limousine taxi fleet
Move is said to align with the growing demand for premium transportation services LAND transport operator ComfortDelGro (CDG) has introduced new Toyota Alphard Hybrid models to its existing fleet of limousine taxis alongside the Mercedes Viano, Toyota Vellfire, Mercedes E-Class, and Lexus ES300 models. On Friday (Jan 3), CDG Taxi’s chief executive Tommy Tan said…
Read MoreChinese AI firm SenseTime cuts back on Singapore office space: sources
SENSETIME Group is reducing its office footprint in Singapore, scaling back once-lofty ambitions at a time when it’s struggling to compete in the post-ChatGPT era. The Chinese artificial intelligence (AI) pioneer is moving from a prime downtown location to a smaller office in a less expensive neighbourhood, people familiar with the matter said. The company…
Read MoreChina AI firm SenseTime cuts back on Singapore office space: sources
SENSETIME Group is reducing its office footprint in Singapore, scaling back once-lofty ambitions at a time when it’s struggling to compete in the post-ChatGPT era. The Chinese artificial intelligence (AI) pioneer is moving from a prime downtown location to a smaller office in a less expensive neighbourhood, people familiar with the matter said. The company…
Read MoreMaybank says SingPost can potentially offer a ‘significant’ special dividend after sales of assets
The bank says that the sale of Famous Holdings should conclude by end January 2025 BELEAGUERED national postal service provider SingPost could offer a potentially “significant” special dividend after it completes its planned sales of two business units, said Maybank on Friday (Jan 3). The bank referred to SingPost’s proposed divestment of its Australian logistics…
Read MoreTesla annual deliveries fall for first time as incentives fail to drum up demand
TESLA reported its first fall in yearly deliveries on Thursday as lucrative year-end incentives for the Elon Musk-led electric vehicle maker’s aging lineup and the new Cybertruck pickup failed to lure customers wary of high borrowing costs. Musk had earlier predicted “slight growth” in 2024 deliveries and offered a range of promotions including interest-free financing…
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