Posts by Mark Darwin
Hanwha’s offer for Dyna-Mac turns unconditional on acceptances; closing date extended to Nov 20
Some 84.8 million shares or 6.81% of total issued shares in Dyna-Mac had been accepted as at 6 pm on Nov 4 HANWHA Ocean SG’s voluntary conditional cash offer for Dyna-Mac was declared unconditional as to acceptances on Tuesday (Nov 5), resulting in an extension of the closing date to 5.30 pm on Nov 20…
Read MoreStocks to watch: SIA, CapitaLand Investment, NetLink NBN Trust, Aims Apac Reit, Dyna-Mac
THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 5): Singapore Airlines (SIA), SIA Engineering Company (SIAEC): Singapore’s national carrier will spend S$1.1 billion to retrofit its Airbus A350 fleet and refresh offerings as rival airlines pump billions into upgrades. Set to finish by 2030, the makeovers will…
Read MoreCrypto firms including Robinhood, Kraken launch global stablecoin network
A CONSORTIUM of financial technology and cryptocurrency companies including Robinhood, Kraken and Galaxy Digital on Monday (Nov 4) introduced a joint stablecoin pegged to the US dollar. The aim of the newly formed Global Dollar Network is to accelerate the usage of stablecoins worldwide and promote an asset that provides proportionate economic benefits to its…
Read MoreUber proposes cut to New York City driver base pay on lower gas prices
UBER Technologies is proposing a cut to New York City drivers’ base pay rate, among other recommendations, as it seeks to lower prices of rides in one of its largest markets. The company would like the city’s Taxi and Limousine Commission (TLC), which sets minimum driver pay, to reduce the per-mile rate in its driver…
Read MorePalantir raises 2024 revenue forecast again on robust AI adoption; shares surge
PALANTIR Technologies on Monday (Nov 4) raised its annual revenue forecast for the third time, betting on strong spending from governments and rising demand for its software services from businesses looking to adopt generative artificial intelligence (AI) technology. Shares of the company rose about 8 per cent in extended trading. The data analytics company has…
Read MoreMarriott trims 2024 profit forecast on sluggish China domestic travel demand
MARRIOTT International cut its annual profit forecast on Monday (Nov 4) as weak domestic travel in China overshadows strong group and international demand, sending its shares down 3.4 per cent in early trading. Hotel operators have signalled weak demand in the world’s second-biggest economy nation during the reported quarter amid efforts by the government to…
Read MoreNew York Times tops estimates as digital subscribers grow
NEW York Times reported third-quarter earnings that beat analysts’ expectations, as the company saw an increase in its subscriber count in the months leading up to the 2024 Presidential Election. The newspaper publisher reported earnings of 45 cents a share on Monday (Nov 4), excluding some items. The results exceeded Wall Street estimates of 41…
Read MoreUS CEOs fired more quickly over low stock prices this year, report says
US COMPANIES with lagging stock prices are now quicker to blame management and fire their top executive, but the process of finding a replacement has remained largely unchanged for the last decade, according to a report released on Monday (Nov 4). Over the last seven years, financial performance and most notably a company’s stock price…
Read MoreUS dollar drops to two-week low as investors take profit on ‘Trump trades’
THE US dollar dipped on Monday (Nov 4) as investors braced for wide-ranging implications for the global economy this week from the outcome of US elections and a likely interest rate cut from the Federal Reserve. The euro jumped 0.7 per cent to US$1.0906. The dollar fell nearly 1 per cent on the yen to…
Read MoreTesla China shipments slip 5% in october after bumper quarter
TESLA’s Shanghai factory deliveries slipped in October, the unexpected softness coming after a record quarter for China shipments at Elon Musk’s carmaker. The US electric vehicle maker shipped 68,280 Model 3 sedans and Model Y sport utility vehicles last month, down 5.3 per cent year-on-year and a sharp 23 per cent contraction from September, preliminary…
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