Posts by Mark Darwin
US: Wall St mixed at start of holiday-shortened week
Wall Street’s main indexes were muted at the start of a holiday-shortened week on Monday (Dec 23), as a stopgap government funding bill averted a partial shutdown and investors contended with a slower pace of rate cuts from the US central bank next year. The Dow Jones Industrial Average fell 39.8 points, or 0.09 per…
Read MoreXerox to buy printer maker Lexmark from Chinese owners in US$1.5 billion deal
The office equipment manufacturer has seen its revenue shrink for five straight quarters OFFICE equipment manufacturer Xerox will buy Chinese-owned printer and printing software maker Lexmark International in a US$1.5 billion deal to bolster its mainstay business, the companies said on Monday (Dec 23). The purchase from Ninestar Corp, PAG Asia Capital and Shanghai Shouda…
Read MoreDollar Bill Symbols: Complete Guide
Ever wondered about the symbols on a dollar bill? They’re everywhere, and each one tells a story. From the face of George Washington to the mysterious pyramid and eye, every detail has a purpose. This guide will take you through the different parts of a dollar bill, revealing the history, myths, and artistry behind America’s…
Read MoreChinese EV makers hit EU wall as tariffs inflate cost of imports
CHINESE automakers captured their smallest share of Europe’s electric vehicle (EV) market in eight months after new tariffs added as much as 35 per cent to the cost of importing cars to the region. Manufacturers such as BYD and Saic Motor’s MG accounted for 7.4 per cent of EV registrations across the European Union in…
Read MoreTwo new ride-hailing operators awarded provisional licences in Singapore
TWO new ride-hail service operators – Geo Lah and Trans-cab Services – will enter the Singapore market in 2025. The news comes as licensed operators of point-to-point (P2P) transport services were announced by the Land Transport Authority (LTA) on Monday (Dec 23), ahead of rule updates to the sector that come into force in 2025.…
Read MoreUS investors pay biggest premium for TSMC shares in two months
TAIWAN Semiconductor Manufacturing Company’s (TSMC) US-listed shares cost almost 25 per cent more than those in its domestic market at the end of last week, a sign that global investors are still willing to pay up for stocks that can benefit from the artificial intelligence boom. The chipmaker’s American depositary receipts (ADRs) have long traded…
Read More1MDB sues Amicorp for over US$1 billion for allegedly facilitating US$7 billion fraud
The lawsuit seeks damages of more than US$1 billion from the financial services provider SCANDAL-HIT Malaysian state fund 1MDB and its subsidiaries have filed a claim against Amicorp and co-founder Toine Knipping for allegedly facilitating more than US$7 billion in fraudulent transactions. The lawsuit accuses Amicorp, a Hong Kong-based financial services provider, of playing “a…
Read MoreJapan’s bond market is set to absorb biggest supply in a decade
INVESTORS are set to face the largest supply of Japanese sovereign bonds in at least a decade as the central bank plans to shrink its balance sheet, adding to debtholders’ woes from rising interest rates. The Ministry of Finance typically releases a plan in late December on the amount of debt it will sell in…
Read MoreHonda, Nissan formalise merger talks, aim to combine by 2026
Honda Motor and Nissan Motor took their first historic steps toward merging to create a new force in the world’s automotive industry, as aggressive competition from China forces legacy carmakers to rethink their business models. The two Japanese auto manufacturers signed a basic agreement for merger talks on Monday (Dec 23), according to a joint…
Read MoreOCBC, UOB to pay out second cost-of-living bonuses for junior staff
FOR the second year in a row, OCBC and UOB will each be giving out a one-off payment to its junior employees to help them cope with ongoing cost-of-living pressures. About S$7.5 million will be distributed among close to 11,000 employees across OCBC and its subsidiaries including Bank of Singapore and OCBC Securities, or 40…
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