Posts by Mark Darwin
Netflix 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 MoreManchester United posts smaller Q1 loss on cost cuts
Adjusted net loss was £349,000 (S$591,428) for the three months ended Sept 30, compared with a loss of £8.6 million a year earlier Manchester United on Tuesday (Nov 26) reported a smaller adjusted net loss for the first quarter, helped by cost cuts and benefits from favourable exchange rates. Adjusted net loss was £349,000 (S$591,428)…
Read MoreMalaysia plans to produce sustainable jet fuel in 2027
MALAYSIA plans to start producing sustainable aviation fuel (SAF) in 2027, with an initial production capacity of one million tonnes per year, Plantation and Commodities Minister Johari Abdul Ghani said on Tuesday (Nov 26). The production capacity will gradually increase based on factory output and feedstock availability, the minister told parliament. Malaysia, the world’s second-largest…
Read MoreSingPost should quickly cut borrowings by divesting its non-core properties now
Over the past two years, the group has shuttered 12 post offices, leaving another 44 that are located at SLA properties, ground floors of HDB shophouses and other commercial setups such as malls ON THE face of it, national postal service provider SINGAPORE Post (SingPost) delivered an impressive improvement to its bottom line for the…
Read MoreMaybank’s Q3 net profit rises 7.6% to RM2.5 billion
MAYBANK’s net profit for the third quarter ended Sep 30, 2024, amounted to RM2.5 billion (S$770 million), up 7.6 per cent from RM2.4 billion in the previous corresponding period. The group’s earnings per share for the quarter stood at 21.04 sen, up from 19.56 sen in the same period last year. Profit before tax for…
Read MoreGlobal airfares set to rise yet again in 2025, Amex GBT says
GLOBAL airfares are set to become more expensive in 2025 even as gains moderate, according to an American Express Global Business Travel Group (GBT) forecast, with ticket prices reflecting higher costs and lingering supply-chain disruptions. The slower climb in ticket expenses is a levelling off from this year’s steep post-Covid increases, the global corporate travel…
Read MoreTPG is said in advanced talks to buy Siemens Gamesa India assets
TPG is in advanced talks to buy the Indian wind energy assets of Siemens Energy’s Gamesa unit, sources familiar with the matter said. TPG has emerged as the likeliest buyer after outbidding rivals including industry players and private equity firms, the sources said, asking not to be identified because the matter is private. A transaction…
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