Posts by Mark Darwin
Goodwill Entertainment Catalist IPO 1.5 times oversubscribed
KARAOKE and live show operator Goodwill Entertainment has announced that its initial public offering (IPO) on the Catalist board of Singapore Exchange has been 1.5 times oversubscribed. In a press release on Thursday (Oct 31), the company said that anchor investors for the IPO are Asew Acquisition, ICH Capital and K-IX Capital. Vincent Toe, CEO…
Read MoreUber issues muted holiday forecast as it hits record profit
UBER Technologies reported weaker-than-expected ride bookings and issued a middling forecast for the holiday quarter, even as it delivered record operating profit. The company posted US$1.06 billion in operating income for the three months ended Sep 30, it said on Thursday (Oct 31), far exceeding estimates for a metric that only turned positive last year. …
Read MoreWinking Studios seeks dual listing on AIM Market
WINKING Studios announced its intention to seek a listing on the AIM Market of London Stock Exchange (LSE) in November to support expansion into western markets. In a bourse announcement on Thursday (Oct 31), the gaming-related company stated its intention to be dual-listed on the secondary boards of the Singapore Exchange and the LSE. Winking…
Read MoreSamsung rises after signalling progress with Nvidia on AI memory
Samsung Electronics declared progress in supplying its most advanced artificial intelligence (AI) memory chips to Nvidia, offering some reassurance to investors who fear the company’s falling further behind SK Hynix in a red-hot market. Samsung’s stock rose as much as 3.6 per cent after an executive told analysts the company has made “meaningful” progress in…
Read MoreCoinbase pledges further US$25 million of political funding for crypto
Coinbase Global committed another US$25 million of funding to Fairshake, a political action committee for the digital-asset industry that has become an influential player in the US election. Fairshake will use the money in the lead up to the 2026 midterm vote to support pro-crypto candidates, Coinbase’s chief executive Brian Armstrong said in a post…
Read MoreAustralia takes Optus to court for allegedly selling mobiles to vulnerable customers
Australia’s competition watchdog is taking Singtel-owned Optus to court, alleging it engaged in misconduct while selling mobile phones and plans, particularly to vulnerable customers. The Australian Competition and Consumer Commission (ACCC) on Thursday (Oct 31) alleged that Optus’ conduct “disproportionately” impacted consumers and its practices were, in a way, backed by remuneration for sales staff.…
Read MoreMeta sales narrowly beat on AI boosting advertising revenue
Meta Platforms projected stronger-than-expected holiday quarter sales, and touted artificial intelligence (AI) improvements to its core advertising business. But it wasn’t enough to satisfy Wall Street. Meta told investors on Wednesday (Oct 30) that revenue for the current quarter would be between US$45 billion and US$48 billion. Analysts were expecting fourth-quarter revenue of US$46 billion.…
Read MoreNew Starbucks CEO is testing investors’ US$21 billion bet
Starbucks’ new chief executive Brian Niccol is facing a key test: convincing investors he’s worth the US$21 billion in market value the coffee chain notched after his appointment. On Wednesday (Oct 30), during his first earnings call since taking the helm, Niccol needed to present a path out of the deepening sales slump that prompted…
Read MoreOil rises on US stockpiles drawdown, Opec+ mulls output hike delay
Oil prices rebounded on Wednesday (Oct 30), rising more than 2 per cent after data showed US crude and gasoline inventories fell unexpectedly last week and on reports that the Opec+ may delay a planned oil output increase. After falling more than 6 per cent earlier in the week on the reduced risk of wider…
Read MoreKKR and Energy Capital Partners form US$50 billion AI partnership
KKR and Energy Capital Partners agreed to a US$50 billion partnership to accelerate the development of infrastructure for artificial intelligence. The agreement between the alternative investment manager and the private owner of power generation and renewables would focus on developing data centres and power generation and transmission infrastructure, the firms said in a statement on…
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