Posts by Mark Darwin
US companies storm debt markets after risk premiums plunge
COMPANIES of all stripes are diving into the debt market on Tuesday (Nov 12), taking advantage of robust demand and relatively favourable borrowing costs. Banks including Citi, Goldman Sachs, HSBC and BNP Paribas are among 13 firms selling investment-grade bonds on Tuesday. That marks the busiest day for high-grade deals since Sep 4, which featured…
Read MoreMan Group plans job cuts as it reviews budget, talent needs
MAN Group is planning a round of job cuts as the world’s biggest publicly traded hedge fund firm reviews its staffing needs. Chief executive officer Robyn Grew told staff the firm is reviewing its annual budget and talent needs, according to sources with knowledge of the matter. The review will lead to job cuts in…
Read MoreCapitaLand Ascott Trust’s divestments could help it buffer against higher-for-longer interest rate scenario
It should seize opportunities available in market, as long as exit yields remain favourable THE managers of CapitaLand Ascott Trust (Clas) have announced a flurry of divestments for the lodging trust in recent months. Most recently, Clas in October said that it will be selling the Somerset Olympic Tower Tianjin serviced residence in China for…
Read MoreCanada moves to end disputes at ports of Vancouver and Montreal
CANADIAN Labour Minister Steven MacKinnon said on Tuesday (Nov 12) he had directed the country’s labour relations board to order an end to disputes at the ports of Vancouver and Montreal, citing the economic damage inflicted. The move marked the second time in a few months that the Liberal government has stepped in to end…
Read MoreAmazon offers free computing power to AI researchers, aiming to challenge Nvidia
AMAZON.COM’S cloud computing unit on Tuesday (Nov 12) said it will offer free computing power to researchers who want to use its custom artificial intelligence chips, aiming to challenge Nvidia’s popularity among those researchers. Amazon Web Services (AWS) said it will offer credits to use its cloud data centres that it values at US$110 million…
Read MoreQuarz pares stake in Sabana Reit as Volare adds
The transaction increases Volare’s deemed interest in the trust to 19.79% from 17.79% SWISS group Volare has scooped up the 22.5 million shares in Sabana Industrial Real Estate Investment Trust (Sabana Reit) that was dumped by activist investor Quarz Capital for S$7.8 million on Nov 8. The transaction increases Volare’s deemed interest in the trust…
Read MoreUS dollar roars with Bitcoin as Trump trades shine; euro and yuan slump
THE US dollar rose to a four-month peak versus major peers on Tuesday (Nov 12), while Bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished at a seven-month trough and the yuan slumped to its lowest in more than three…
Read MoreSea remains in the black, posts US$153.3 million Q3 profit
GAMING and e-commerce player Sea reported a US$153.3 million net profit for Q3 2024, reversing from a US$144 million loss a year ago, and marking a second consecutive quarter in the black. The figure beat estimates from a Bloomberg poll of 13 analysts, which projected a net profit of US$128.6 million. Revenue for the quarter…
Read MoreBukit Sembawang reports surge in H1 FY2025 earnings to S$62.9 million
PROPERTY developer Bukit Sembawang reported a 149 per cent surge in H1 FY2025 ended Sept 30 earnings to S$62.9 million from S$25.2 million the previous year. In a bourse filing on Tuesday (Nov 12), Bukit Sembawang posted a 23 per cent rise in H1 FY2025 revenue to S$324 million from S$264.3 million in H1 FY2024. …
Read MoreSingapore stocks fall as US dollar strength weighs on Asian stock indices; STI drops 0.8%
The trade-weighted US dollar index is at its highest since Jul 2, and up 4.9% in this quarter SINGAPORE stocks fell on Tuesday (Nov 12) as regional sentiment weakened after the US dollar strengthened overnight. The benchmark Straits Times Index (STI) fell 0.8 per cent or 27.99 points to 3,711.48. Across the broader market, losers…
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