Posts by Mark Darwin
Private-jet boom comes to muni market with high-yield bond deal
MILLION Air, a luxury aviation company catering to the ultra-rich and high-flying executives, is borrowing US$120.5 million from Wall Street to expand its operations in Austin to meet pent-up demand for hangar space to park private jets. Originally founded for the Mary Kay cosmetics company, a wholly-owned subsidiary of Million Air’s parent company plans to…
Read MoreCDL Hospitality Trusts’ Q3 net property income falls 6.8% to S$36.3 million
CDL Hospitality Trusts (CDLHT) posted a net property income (NPI) of S$36.3 million for the third quarter ended Sep 30, down 6.8 per cent from S$39 million in the previous corresponding period. Revenue for the quarter was down 3.7 per cent on the year to S$67.5 million. The declines were mainly due to a normalisation…
Read MoreToyota, NTT to make 500 billion yen R&D investment for AI self-driving: report
TOYOTA Motor and Japan’s Nippon Telegraph and Telephone (NTT) will invest 500 billion yen (S$4.3 billion) in research and development (R&D) to create artificial intelligence (AI) software to improve self-driving, Nikkei reported on Tuesday (Oct 29). The carmaker and the Tokyo-headquartered telecommunications major are planning to develop automotive software which will use AI to anticipate…
Read MoreStarbucks threatens to fire staff who don’t come back to office
STARBUCKS is telling its corporate staff they could be fired if they do not come to work at the office three days a week. Starting in January, Starbucks will implement a “standardised process” to hold workers accountable if they do not abide by the coffee chain’s return-to-office policy, according to a memo sent to one…
Read MoreMcDonald’s sales slump after E coli outbreak spooks diners
MCDONALD’S sales plummeted following news of E coli infections linked to the chain’s Quarter Pounders. Transactions fell as much as 6 per cent from the prior year in the days after the outbreak became public on Tuesday (Oct 29), dragging down total sales, according to Bloomberg Second Measure data to Oct 25. The group tracks…
Read MoreUS: Wall Street opens higher ahead of megacap earnings
Wall Street rose at the open on Monday (Oct 28), recovering some losses following a turbulent trading week, ahead of key corporate earnings and the final phase before the Nov 5 presidential election. The Dow Jones Industrial Average rose 150.1 points, or 0.36 per cent, at the open to 42,264.54. The S&P 500 rose 25.8…
Read MoreIndia’s Bharti Airtel posts bigger Q2 profit, boosted by higher tariffs
BHARTI Airtel reported an over two-fold rise in its second-quarter profit on Monday (Oct 28), as the telecom operator’s first tariff hike in over two years boosted its revenue per user. India’s No 2 wireless carrier’s consolidated net profit jumped 168 per cent to 35.93 billion rupees (S$564.9 million) in the July-to-September quarter. Bharti Airtel…
Read MoreJapfa swings into the black with US$87.5 million net profit; declares one-off S$0.01 dividend per share
JAPFA swung into the black with a net profit of US$87.5 million for its first nine months ended Sep 30, 2024, compared with a net loss of US$22.7 million in the same period a year earlier. This was mainly due to improved contributions from its Indonesian unit and its “animal protein other” segment in Vietnam,…
Read MoreSingapore shares fall, bucking regional trend; STI slides 0.3%
Among the region’s bourses that ended higher, Japan’s Nikkei 225 rose 1.8% after the LDP’s worst parliamentary defeat since 2009 SINGAPORE shares started the week in the red on Monday (Oct 28), even as most regional exchanges ended higher. The benchmark Straits Times Index (STI) fell 0.3 per cent or 9.33 points to 3,584.08. …
Read MoreMajor Indian solar panel maker dazzles in market debut
India’s top solar module producer, Waaree Energies shone on its market debut on Monday (Oct 28) after raising US$514 million, as traders bet on increased global demand for clean energy components. A booming stock market in the world’s fifth-largest economy has stoked an initial public offering frenzy over the last two years, with start-ups and…
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