Posts by Mark Darwin
Gold prices flat, focus on US inflation print
Gold prices barely moved on Wednesday (Nov 13), as attention shifted to a key US inflation print due later in the day, which could shed more light on the Federal Reserve’s monetary policy path. Spot gold was flat at US$2,599.19 per ounce by 0021 GMT, after hitting its lowest since Sep 20 in the previous…
Read MoreFrasers Property remains keen on Singapore housing development but is cautious over entry costs and margins
FRASERS Property posted a net profit of S$148.9 million for the second half of its financial year ended Sep 30, reversing losses of S$52.6 million in the same period the prior year. This came as revenue for H2 FY2024 stood at S$2.7 billion, up 33.2 per cent from S$2 billion the previous year, it said…
Read MoreBoeing, Airbus throw supplier lifeline ahead of takeover
BOEING and Airbus will provide more than US$450 million in financial assistance to help keep key supplier Spirit AeroSystems Holdings afloat ahead of their planned purchase of the company’s assets next year. The US planemaker is providing a US$350 million advance to support the production of components for its commercial aircraft, Spirit disclosed in a…
Read MoreSingtel’s H1 profit falls 42.4% to S$1.23 billion in absence of exceptional gain
SINGTEL’S net profit for the first half ended September fell 42.4 per cent year on year to S$1.23 billion from S$2.14 billion. This was in the absence of a S$1.2 billion exceptional gain booked in the same period a year prior, for the issuance of Telkomsel shares to integrate Indonesian broadband provider IndiHome. On Wednesday…
Read MoreUS 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…
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