Posts by Mark Darwin
Singapore shares open higher on Friday; STI up 0.4%
Genting Singapore is the most actively traded by volume, while banking stocks are mixed SINGAPORE stocks were in positive territory during early trading on Friday (Nov 8) after the US cut interest rates by a quarter point, as global markets continued to rally after Donald Trump’s election victory this week. As at 9.03 am, the…
Read MoreStocks to watch: UOB, OCBC, Sats, Far East Orchard, Daiwa House Logistics Trust
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 8):
Read MoreEV growth expectations for Trump years are already being slashed
SLOWING electric vehicle (EV) adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”. Automotive forecaster GlobalData on Wednesday (Nov 6) cut its outlook for EV market share in the US for 2030 to 28 per cent from 33…
Read MoreAirbnb revenue narrowly beats on strong growth in international markets
VACATION home rental company Airbnb narrowly beat estimates for third-quarter revenue on Thursday (Nov 7), helped by strong growth in its Asia-Pacific and Latin American markets, sending its shares soaring as much as 15 per cent in volatile after-hours trading. The travel company, which has been investing heavily to bolster its presence globally, said the…
Read MoreCan B Corps save the world?
THE “shareholder primacy” doctrine that promoted profit maximisation as the purpose of business is fading. The increasing wealth gap, widening social inequality and environmental degradation are a blemish on our report card. We stand at the crossroads of this identity crisis, which offers extraordinary opportunities. Businesses are now called to create value for employees, customers,…
Read MoreHSBC’s Roberts says first round of job losses coming in weeks
THE head of HSBC Holdings’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks. Michael Roberts, chief executive officer of the British lender’s corporate and institutional banking and head of Western markets, told Bloomberg Television…
Read MoreWarner Bros Discovery posts surprise profit as Olympics boost streaming
WARNER Bros Discovery reported a surprise quarterly profit on Thursday (Nov 7) as cost controls and an Olympics-driven record jump in streaming subscribers helped make up for a lack of major box office hits from its studio. Shares of the company rose nearly 10 per cent in premarket trading. The stock has lost about a…
Read MoreSats Q2 profit trebles to S$69.7 million, declares S$0.015 dividend per share
The group also reports a half-year profit of S$134.7 million, reversing from the red IN-FLIGHT caterer Sats on Thursday (Nov 7) announced a second-quarter profit of S$69.7 million, soaring 214 per cent from S$22.2 million in the corresponding year-ago period. Revenue for the three months ended Sep 30 increased 14.1 per cent to S$1.5 billion,…
Read MoreAttika Group’s Catalist IPO fully snapped up, shares to begin trading on Nov 8
Group has raised around S$4.6 million from the initial public offering of 21 million placement shares, with each share priced at S$0.22 COMMERCIAL interior decoration and engineering company Attika Group on Thursday (Nov 7) said that the placement shares from its listing on the Catalist board of the Singapore Exchange have been fully subscribed. The…
Read MoreSMIC reports profit jump, revenue growth as chip sector recovers
CHINA’S largest chipmaker Semiconductor Manufacturing International Corp (SMIC) reported on Thursday (Nov 7) a 58.3 per cent jump in third quarter net profit as the sector showed signs of recovery following a prolonged downturn since late 2022. Net income totalled US$148.8 million for July-to-September quarter but fell short of analysts’ estimates of US$199.71 million, according…
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