Posts by Mark Darwin
Nvidia to take Intel’s spot on Dow Jones Industrial Average
INTEL will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, underscoring the shift in the chipmaking market and marking another setback for the struggling semiconductor firm. Nvidia will join the index next week along with paint-maker Sherwin-Williams, which will replace Dow, S&P Dow Jones Indices said on…
Read MoreApple to invest up to US$1.5 billion in Globalstar for satellite coverage expansion
APPLE will invest up to US$1.5 billion in Globalstar to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday (Nov 1). Shares of Globalstar jumped over 30 per cent, while Apple was down around 1.4 per cent a day after it forecast tepid quarterly revenue growth. …
Read MoreKKR sees US$250 billion spent annually from data centre boom
SOARING demand for data centres to support artificial intelligence and cloud-computing will boost global spending in the sector to US$250 billion a year, according to KKR. The US is the biggest developer of data centres. That infrastructure consumes about 16 to 18 gigawatts of power, compared with about six gigawatts each in Europe and Asia,…
Read MoreExxon’s US$8.6 billion profit beats as volume offsets price weakness
EXXON Mobil beat Wall Street’s third-quarter profit estimate on Friday (Nov 1), boosted by strong oil output in its first full quarter that includes volumes from US shale producer Pioneer Natural Resources. Oil industry earnings have been squeezed this year by slowing demand and weak margins on petrol and diesel. But Exxon’s year-over-year profit fell…
Read More10-year average return on Singapore Savings Bond picks up to 2.81%
INTEREST rates on the latest issuance of the Singapore Savings Bond (SSB) have risen, after the November tranche saw yields slip to record lows for 2024. The latest tranche, which opened for application on Friday (Nov 1) and will be issued in December, is offering a first-year interest rate of 2.66 per cent, and a…
Read MoreSingapore stocks edge down on Friday; STI falls 0.1%
SINGAPORE equities closed in the red on Friday (Nov 1) as the market returned from a one-day Deepavali break. The Singapore Exchange’s blue-chip barometer, the Straits Times Index (STI), lost 0.1 per cent or 3.45 points to end at 3,555.43. Across the broader market, losers edged out winners 279 to 260, while 1.3 billion securities…
Read MoreUBS senior banker who pioneered ESG debt swaps leaves firm
He is among a select group of former Credit Suisse bankers who made it into top roles at UBS, after it acquired its troubled Swiss rival last year A SENIOR banker at UBS – best known for his role in pioneering debt-for-nature swaps – has left the firm, said people familiar with the matter. Ramzi…
Read MoreGIC-backed Coda Payments gets MAS’ in-principle nod for major payment institution licence
Holders are allowed to conduct multiple transactions without being subjected to certain threshold limits on transaction volume or float PAYMENTS firm Coda Payments has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution licence. On Friday (Nov 1), the GIC-backed company said that the in-principle approval marks a “critical…
Read MoreOlam exploring sale of remaining agribusiness stake to Saudis
OLAM Group has received a non-binding indicative offer for its remaining 64.57 per cent stake in Olam Agri from Saudi Agricultural & Livestock Investment Company (Salic), a unit of Saudi Arabia’s Public Investment Fund. Salic currently holds a 35.4 per cent minority stake in Olam Agri after investing US$1.24 billion in the unit. The deal…
Read MoreStocks to watch: Singtel, Wilmar, First Reit
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 1): Singtel: The Australian Competition and Consumer Commission (ACCC) filed court proceedings against Singtel’s subsidiary Optus Mobile over allegations of inappropriate sales conduct. The ACCC is pursuing penalties, consumer redress, a compliance programme and costs from Optus, said the…
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