Posts by Mark Darwin
France’s Wendel to acquire Monroe Capital for US$1.13 billion
The French company will also invest US$1 billion to support the US firm’s growth, which will retain its brand and continue to operate autonomously FRENCH investment company Wendel will acquire US asset investment firm Monroe Capital, it said on Tuesday (Oct 22), with an initial investment of about US$1.1 billion for 75 per cent of…
Read MoreChina’s Horizon Robotics raises HK$5.4 billion in biggest Hong Kong IPO of 2024
CHINESE autonomous driving firm Horizon Robotics has priced its shares at the top of its range to raise HK$5.4 billion (S$913.4 million) according to a term sheet seen by Reuters, making it the biggest Hong Kong initial public offering this year. The company sold 1.355 billion shares in a price range of HK$3.73 to HK$3.99…
Read MoreBrokers’ take: OCBC initiates coverage on PropNex with ‘buy’
OCBC Investment Research has initiated coverage on PropNex with a “buy” call and a fair value estimate of S$0.91. It anticipates that upcoming project launches in the second half of 2024 and first half of 2025, and a potential increase in sales momentum could boost “positive sentiment” towards the real estate agency’s stock. “We believe…
Read MoreAutomakers are mired in first Europe sales slump in two years
CAR sales in Europe fell in September for the first consecutive monthly decline in more than two years as the region’s economy continued to stagnate and consumers trimmed spending. New car registrations fell 4.2 per cent compared to a year ago, to 1.1 million units, the European Automobile Manufacturers’ Association said on Tuesday (Oct 22).…
Read MoreLogitech raises full-year outlook as sales and profit expectations climb
LOGITECH International raised its full-year outlook after a strong performance and a growth in demand in the second quarter, the computer keyboard and mouse maker said on Tuesday (Oct 22). The Swiss-American technology company now expects its full-year sales in the range of US$4.4 billion to US$4.5 billion, up from its previous guidance US$4.3 billion…
Read MoreHoneywell partners with Google to integrate data with generative AI
HONEYWELL has signed a deal with Google to connect artificial intelligence (AI) technology with its industrial data, both companies said on Monday (Oct 21), with a view to offer streamlined autonomous operations for its customers. The partnership will bring together Alphabet-owned Google’s Gemini – its most advanced AI technology – and Honeywell’s industrial data collected…
Read MoreStripe confirms plans to acquire stablecoin platform Bridge
STRIPE co-founder and chief executive officer Patrick Collison confirmed in a X post on Monday (Oct 21) that the payments company plans to buy stablecoin startup Bridge. The deal, first reported by Bloomberg News on Oct 16, is still subject to regulatory approvals and closing conditions. The parties expect to complete the transaction in the…
Read MoreStocks to watch: Keppel, Sembcorp, Seatrium, Keppel Reit, AcroMeta
THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 22): Keppel: The asset manager’s private fund has formed a joint venture with digital infrastructure company Digital Decarbonization Solutions Platform to build an 80-megawatt greenfield data centre campus in northern Taiwan. This comes as Keppel is positive on the…
Read MoreProcter & Gamble back in market after record-tight 10-year sale
PROCTER & Gamble (P&G), the maker of Tide laundry detergent and Crest toothpaste, is planning to sell corporate bonds on Monday (Oct 21), according to a source with knowledge of the offering. The sale will be in as many as two parts. The longer portion of the offering, a 10-year fixed-rate security, may yield 0.6…
Read MoreSEC to increase scrutiny of AI tools used by brokers, advisers
THE US Securities and Exchange Commission’s (SEC) examiners will step up scrutiny of financial firms’ use of artificial intelligence (AI) next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect the SEC to focus on their statements about AI tools to ensure they…
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