Posts by Mark Darwin
Euro’s bruising leaves global investors on edge
AS THE euro heads for its worst month since early 2022, analysts warn that a wild ride in the currency could be the next source of global market volatility after gyrations in Japan’s yen sparked a bout of cross-asset turmoil in August. Europe’s single currency has slumped by around 3.8 per cent against the US…
Read MoreFinancial institutions, companies in Singapore have enough buffer to weather shocks: MAS
COMPANIES and financial institutions in Singapore have enough buffers to manage shocks to their incomes and financing costs as their strong balance sheets can help them cope with higher borrowing costs and market volatility, said the Monetary Authority of Singapore (MAS) on Wednesday (Nov 27). As most corporates have low debt levels, overall bank credit…
Read MoreRBNZ flags another big cut after second half-point move
NEW Zealand’s central bank chief suggested a further large cut in interest rates would be delivered early next year if the economy evolves as expected, after easing policy by a half-percentage point at Wednesday’s (Nov 27) meeting. The Reserve Bank of New Zealand’s (RBNZ) Monetary Policy Committee lowered the Official Cash Rate (OCR) to 4.25…
Read MoreCrowdStrike raises annual forecast on steady cybersecurity demand
CYBERSECURITY firm CrowdStrike raised its annual revenue and profit forecasts and beat third-quarter revenue on Tuesday (Nov 26), betting on growing demand for cybersecurity services amid growing online threats. Businesses are increasingly investing in Crowdstrike’s comprehensive cybersecurity services to combat the widespread threat of online hacking and digital fraud. Several companies, including AT&T, Live Nation…
Read MoreCrypto exchange Kraken shuts down NFT marketplace
THE crypto exchange Kraken is shutting down its non-fungible token (NFT) marketplace almost two years after the platform was launched, saying it’s shifting more resources into new products and services. “Clients have been informed of the changes and our team will support them as they move their NFTs to their Kraken Wallet or a self-custodial…
Read MoreCouche-Tard not giving up on bid to acquire 7-Eleven’s owner
CANADIAN convenience store and fuel retailer Alimentation Couche-Tard remains committed to snapping up its Japanese rival Seven & i Holdings despite a new management buyout proposal valued at about US$58 billion. “We will be persistent and continue our friendly approach to creating what we see as the most compelling outcome for all shareholders, employees and…
Read MoreNetflix defeats shareholder lawsuit over growth forecasts
NETFLIX won the dismissal on Tuesday of a shareholder lawsuit accusing the streaming company of downplaying the impact on subscriber growth of account sharing, where paying members share user names and passwords with nonpaying members in other households. The proposed class action led by a Texas-based trustee began after Netflix revealed in April 2022 it…
Read MoreHP gives lacklustre profit outlook on slow PC market recovery
HP GAVE an outlook for profit in the current quarter that fell short of estimates, suggesting a setback in the personal computer (PC) market’s recovery from a yearslong slump. Earnings, excluding some items, will be 70 US cents to 76 US cents a share in the fiscal first quarter, the company said on Tuesday (Nov…
Read MoreSingapore-listed Dow ETF offers local investors a gateway to US stocks, say panellists
PANELLISTS Jermyn Wong, head of intermediary, South-east Asia, State Street Global Advisors Geoff Howie, market strategist, Singapore Exchange Sue Lee, director and Asia-Pacific head of index investment strategy, S&P Dow Jones Indices Moderated by: Ben Paul, senior correspondent, The Business Times Why has the US market performed so strongly in the last 10 years and…
Read MoreBank of America down a notch on ‘too big to fail’ list
THE body that monitors the global financial system on Tuesday (Nov 26) moved US lender Bank of America down a notch and French counterpart Credit Agricole up one on its “too big to fail” list of banks. BOA dropped down to category two from three previously while no bank enjoys top-ranked “bucket five” status on…
Read More