Posts by Mark Darwin
Dr Martens slips into the red; says festive season off to a good start
It reported a pre-tax loss of £28.7 million for the six months ended Sept 29, compared with a profit of £25.8 million a year earlier Dr Martens said on Thursday (Nov 28) that the autumn-winter festive season had got off to an encouraging start after the struggling bootmaker swung to a first-half pre-tax loss on…
Read MoreAustralia shares hit record high again on boost from banks
Australian shares hit a record high on Thursday (Nov 28), helped by a sustained rally in the heavyweight banking stocks, despite concerns over valuation and the impact of high interest rates. The S&P/ASX 200 index hit an all-time high of 8,477.10 earlier, its third this month and second this week. It ended the day with…
Read MoreToyota’s sales, output plateau as slump persists in Japan, China
TOYOTA Motor’s sales and production plateaued last month, buoyed by a slight rebound abroad after a prolonged slump in Japan. Global sales, including that of subsidiaries Daihatsu Motor and Hino Motors, rose 0.4 per cent in October compared with last year to 974,245 units – the first uptick in three months and a record for…
Read MoreMizuho weighs new push to target private equity boom in India
MIZUHO Financial Group is considering making a push into a new area for the lender in India focusing on private equity and venture capital firms, seeking to tap some of the most prolific dealmakers in the country. Japan’s third-largest bank has held internal discussions on targeting this segment and is drawing up the potential talent…
Read MoreAmazon says it injected S$2 billion into its Singapore businesses in 2023
AMAZON on Thursday (Nov 28) announced that it injected more than S$2 billion into its retail and cloud businesses in Singapore in 2023. The outlay comprised capital expenditure, including improvements to existing infrastructure such as fulfilment centres, delivery stations and data centres. It also covered operating expenditure, such as expenses related to technology, safety, the…
Read MoreBlackRock has deal to buy private credit manager HPS: report
BLACKROCK has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday (Nov 27). The final deal value would be closer to US$12 billion, which offers a significant premium over HPS’s post-IPO valuation of US$10 billion, the report said, citing two sources familiar with the matter. The two…
Read MoreChina’s EV boom threatens to push petrol demand off a cliff
From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet – and the demise of petrol – are everywhere. Chinese sales of electric vehicles (EVs) and hybrids have reached a tipping…
Read MoreChina keeps buying US soy in surprise move after Trump’s win
CHINA is continuing to buy US soybeans, confounding some traders who had expected the flow of shipments to slow down ahead of a potential trade war between both countries. A Chinese state buyer picked up at least eight cargoes last week to build national reserves, according to traders familiar with the sales. Sales equivalent to…
Read MoreFirst Sponsor to increase stake in Netherlands’ NSI for 18.9 million euros
Acquisition will be funded by net proceeds from a rights issue of perpetual convertible capital securities in September FIRST Sponsor is proposing to lift its stake in Dutch property developer NSI to about 22 per cent from around 17.5 per cent with a proposed share purchase amounting to 18.9 million euros (S$26.6 million), or 20.50…
Read MoreCitadel, Pimco set to own stakes in Spirit Airlines post-bankruptcy
KEN Griffin’s Citadel Advisors, Pacific Investment Management Company (Pimco) and Western Asset Management are among the investment firms poised to own equity in Spirit Airlines after the budget carrier restructures its balance sheet in bankruptcy. The three firms are part of a group that owns Spirit’s 8 per cent senior secured notes due in 2025…
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