Posts by Mark Darwin
Singapore shares slump at Thursday’s open; STI down 0.3%
SINGAPORE stocks were pulled into negative territory on Thursday (Nov 14) after global equities ended mixed overnight. As at 9.02 am, the Straits Times Index (STI) slid 12.62 points or 0.3 per cent to 3,707.72. Across the broader market, losers outweighed gainers 51 to 45 after 80.6 million securities worth S$69.5 million changed hands. Door…
Read MoreStocks to watch: Jardine C&C, StarHub, First Resources, Civmec, GP Industries, Japan Foods
THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 14): Jardine Cycle and Carriage (Jardine C&C): The investment holding company’s earnings for the first nine months of the year were down slightly year on year, it announced on Wednesday. This was due to currency exchange differences that offset…
Read MoreMeta will face antitrust trial over Instagram, WhatsApp acquisitions
FACEBOOK owner Meta Platforms must face trial in a US Federal Trade Commission (FTC) lawsuit seeking its break-up over claims that it bought Instagram and WhatsApp to crush emerging competition in social media, a judge in Washington ruled on Wednesday (Nov 13). Judge James Boasberg largely denied Meta’s motion to end the case filed against…
Read MoreCivmec wins shiploader project; order book remains above A$800 million
Company cautions that delays to the timing of key project awards in FY2025 is expected to result in lower levels of activity in Q3 and potentially Q4 of FY2025 CONSTRUCTION and engineering services company, Civmec has been awarded a design and construction contract for a new major shiploader. In a bourse filing on Wednesday (Nov…
Read MoreTencent’s revenue climbs 8% after blockbuster games summer
TENCENT Holdings’ revenue rose 8 per cent after the summer release of Dungeon & Fighter Mobile helped China’s most valuable company resist a severe economic downturn. Sales for the three months ended September rose to 167.2 billion yuan (S$31 billion), broadly in line with the average estimate. Net income was 53.2 billion yuan, compared with…
Read MoreAllianz beats forecasts with 22% rise in profit and rosier outlook
GERMANY’S Allianz on Wednesday (Nov 13) beat expectations with a 22 per cent rise in third-quarter net profit, helped by lower claims from natural catastrophes, and it gave an improved outlook for 2024. The property and casualty division was cited as a particular area of strength because claims from natural catastrophes were down from a…
Read MoreVietnam tech champion accelerates AI push with Japan expansion
VIETNAM’S software and telecommunications champion FPT plans to open an artificial intelligence (AI) data centre in Japan next year, capitalising on rising AI demand to accelerate its expansion abroad. The plant is scheduled to start operating as early as January 2025, with a first-phase investment of US$200 million with partners, FPT chairman Truong Gia Binh…
Read MoreBNP cuts 10% of China dealmaker jobs after 2022 expansion
BNP Paribas made its first round of layoffs in China investment banking since an expansion two years ago, cutting about 10 jobs amid a sluggish market for deals, sources familiar with the matter said. BNP let go seven Hong Kong-based staff across investment banking, corporate finance and equity capital markets last week, along with three…
Read MoreSiemens Energy boosts mid-term targets on infrastructure boom
SIEMENS Energy raised its mid-term targets after demand for its grid technologies helped offset losses at its beleaguered wind-turbine division. Revenue is likely to grow at a high single-digit to low double-digit percentage, with a profit margin of 10 to 12 per cent by fiscal 2028, the company said on Tuesday (Nov 12). Siemens Energy…
Read MoreGlobal EV sales up 35% in October, Europe ekes out a gain
GLOBAL sales of fully electric and plug-in hybrid vehicles rose 35 per cent in October from the same month last year, with growth across all regions led by a 54 per cent jump in sales in China, market research firm Rho Motion said on Wednesday (Nov 13). European sales rose just 0.8 per cent, but…
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