Posts by Mark Darwin
UPS sees profit growth for first time in nearly 2 years
United Parcel Service (UPS) returned to sales and profit growth for the first time in nearly two years as the company benefited from higher volumes, more profitable packages, and steadying labour costs. The company highlighted a 6.5 per cent increase in average daily US volume, pricing growth and additional air cargo volume. The company’s shares…
Read MoreLSEG’s third-quarter income tops forecasts, shares hit record
LONDON Stock Exchange Group said on Thursday (Oct 24) that its income rose a better-than-expected 9.5 per cent in the third quarter after strong growth in its capital markets business, sending its shares to a record high. LSEG’s total income, excluding recoveries, came in at £2.12 billion (S$3.6 billion) in the three months to Sep…
Read MoreMPACT’s Q2 DPU declines 11.6% to S$0.0198 amid mixed overseas sentiments
MAPLETREE Pan Asia Commercial Trust’s (MPACT) distribution per unit (DPU) fell 11.6 per cent to 1.98 Singapore cents for its second quarter ended Sep 30, from 2.24 cents the year before. Revenue was down 6.1 per cent year on year to S$225.6 million, from S$240.2 million. Net property income (NPI) fell 8.5 per cent to…
Read MoreNew real-time fraud surveillance duty for financial institutions; loss-sharing framework to begin on Dec 16
Rules require Fi’s and telcos to mitigate phishing scams, sets expectations of payouts for affected victims FINANCIAL institutions (FIs) will now be required to implement real-time fraud surveillance on unauthorised transactions from phishing scams, under the shared responsibility framework (SRF). This in response to feedback received on a consultation paper on the framework, said the…
Read MoreSTI bucks regional rout but rises only 0.1%
Across the broader market, decliners beat gainers 313 to 217 amid a trading volume of 1.3 billion securities worth S$1.1 billion SINGAPORE’S 30-blue-chip barometer, the Straits Times Index (STI), was spared the rout in most regional markets on Thursday (Oct 24), after Wall Street closed in the red overnight. The benchmark was 0.1 per cent…
Read MoreParkway Life Reit’s five-year journey to the West
It is marking its first foray into Europe with the acquisition of 11 nursing homes in France SIXTEEN years after it first expanded its portfolio beyond Singapore to Japan, healthcare-focused Parkway Life Real Estate Investment Trust (Reit) is finally making headway into a third key market. The Reit announced on Tuesday (Oct 22) that it…
Read MoreChina’s CATL unveils new battery for extended-range hybrids
CHINESE battery giant CATL on Thursday (Oct 24) launched its first battery product focused on extended-range hybrids at a time when this category of electrified cars is seeing the fastest growth in sales among all segments. The battery, known as Freevoy, is the world’s first hybrid battery with a range of over 400 km, according…
Read MoreHorizon Robotics’ shares jump 38% in Hong Kong after US$696 million IPO
SHARES of Horizon Robotics jumped nearly 38 per cent early in their trading debut in Hong Kong on Thursday (Oct 24), adding to optimism over a revival in initial public offerings (IPOs) in the Asian financial hub. The stock opened at HK$5.12, versus an issue price of HK$3.99. The US$696 million IPO of the Chinese…
Read MoreLas Vegas Sands to pump in US$8 billion to develop MBS expansion project
LAS Vegas Sands (LVS) – the parent company of Singapore’s Marina Bay Sands (MBS) – is set to invest US$8 billion in the integrated resort’s (IR) expansion project dubbed “Marina Bay Sands IR2”. The massive project includes a fourth hotel tower with a sky roof, a 15,000-seat entertainment arena, and additional premium Mice (meetings, incentives,…
Read MoreSeven & i seeks to convince investors sales will double by 2030
SEVEN & i Holdings’s plan to split in two and expand abroad will help the retailer almost double group revenue, chief executive officer Ryuichi Isaka said in an appeal to shareholders as Alimentation Couche-Tard seeks to buy the Japanese convenience-store operator. The retailer aims to reach 30 trillion yen (S$197 billion) in group sales by…
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