Posts by Mark Darwin
Apple accused by NLRB of deterring employees from discussing pay equity
APPLE has been accused by the National Labor Relations Board (NLRB) of trying to prevent employees from discussing pay equity and forcing an engineer who circulated a wage survey to quit, the agency said on Friday (Nov 1). The complaint issued by the NLRB General Counsel on Thursday is the third in a month to…
Read MoreMajor airlines criticise Biden’s air competition review, seek more time
GROUPS representing major airlines on Friday (Nov 1) criticised the Biden administration’s broad public inquiry into the state of competition in air travel, saying the review needs more time and could dramatically impact the future of US aviation. Carrier groups including Airlines for America and the International Air Transport Association urged the Justice Department’s Antitrust…
Read MoreBoeing gains on optimism that lengthy strike is nearing an end
BOEING’S shares rose after union leaders endorsed the latest offer to boost wages, spurring optimism that the company could finally be close to ending a lengthy strike that’s crippling its jetliner manufacturing. The planemaker’s fourth proposal for a four-year contract would raise pay by 38 per cent, give hourly workers a US$12,000 signing bonus upon…
Read MoreChevron flags possible job cuts in US$3 billion cost plan
CHEVRON indicated potential US job cuts as part of a new cost-cutting plan. The US$3 billion in targeted “structural” cost savings will come from asset sales, the use of new technology and workflow changes, chief executive officer Mike Wirth said. Chevron recently opened up a US$1 billion innovation hub in Bengaluru, India, which is hiring…
Read MoreNvidia 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…
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