Posts by Mark Darwin
Seven & 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…
Read MoreAustralia’s Fortescue record Q1 iron ore shipments marred by cost pressures
AUSTRALIA’S Fortescue, the world’s fourth-largest iron ore miner, on Thursday (Oct 24) posted a 4 per cent rise in its first-quarter iron ore shipments but flagged rising costs at its mines while realised prices had fallen, sending its shares to a two-week low. First-quarter iron ore shipments reached a record high of 47.7 million tonnes,…
Read MoreStocks to watch: Keppel, Mapletree Logistics Trust, ComfortDelGro, Hotel Properties Ltd
THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 24): Keppel: The group on Thursday said its net profit for the third quarter ended September 2024 was lower year on year, as the prior quarter had benefited from valuation and divestment gains in the connectivity segment. Excluding the…
Read MoreKeppel’s ‘moat’ gives it an edge in the data centre business: CEO
KEPPEL’s access to greener infrastructure and funds has created a “moat” and given the company an edge in the data centre business, noted its chief executive officer Loh Chin Hua. “Through our infrastructure division, we have direct access to renewables, low-carbon energy and liquid cooling solutions, which are important for sustainable data centre operations,” he…
Read MoreNvidia supplier SK Hynix posts record Q3 profit, beats forecasts
SOUTH Korea’s SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier saw strong sales of its advanced chips such as high bandwidth memory (HBM) ones used in generative AI chipsets. The world’s second-biggest memory chipmaker reported a 7 trillion won (S$6.7 billion) operating profit for the July-September quarter versus a 1.8…
Read MoreServiceNow sales growth fails to impress AI-hungry investors
SERVICENOW reported strong third-quarter sales and bookings, but failed to clear the lofty expectations of investors looking for a bigger boost from artificial intelligence (AI). Subscription sales, which account for the bulk of ServiceNow’s revenue, increased 23 per cent to US$2.7 billion in the period, the company said on Wednesday (Oct 23). Current remaining performance…
Read MoreGucci-owner Kering posts 16% fall in Q3 sales on weak China demand
FRENCH luxury goods group Kering warned on Wednesday its full-year operating income would almost halve after reporting a larger-than-expected drop in third quarter sales, as weak demand in China deepened the struggles of its main label Gucci. Revenue for the group which also owns fashion brands Saint Laurent, Balenciaga and Bottega Veneta, was 3.79 billion…
Read MoreEnnoconn Corp garners 63.77% of NeraTel shares at offer close
This comes after Ennoconn had in September agreed to buy 53.38% of the mainboard-listed company A MANDATORY unconditional cash offer by Taiwan-listed Ennoconn Corporation for Nera Telecommuniations (NeraTel) closed with valid acceptances for only 10.39 per cent of NeraTel’s listed shares on Wednesday (Oct 23). As at the close of the offer at 5.30 pm,…
Read MoreUS: Wall St dips at the open as yields rise, earnings weigh
Wall Street’s main indexes opened lower on Wednesday (Oct 23), pressured by rising Treasury yields and as investors focused on earnings from companies including Coca-Cola, Boeing and Starbucks. The Dow Jones Industrial Average fell 222.65 points, or 0.52 per cent, at the open to 42,702.24. The S&P 500 fell 16.7 points, or 0.29 per cent,…
Read MoreHSBC CEO tells staff senior redundancies inevitable after revamp
SOME senior HSBC staff should brace for job cuts after the bank’s latest restructuring, chief executive Georges Elhedery told staff in a memo seen by Reuters on Wednesday (Oct 23). “Inevitably some of our colleagues will face redundancies as we streamline duplicative senior roles,” Elhedery said in the memo after announcing one of the bank’s…
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