Posts by Mark Darwin
Ray-Ban maker EssilorLuxottica misses sales expectations as China slows
FRANCO-ITALIAN eyewear maker EssilorLuxottica, opens new tab missed third-quarter revenue expectations on Thursday (Oct 17), dented by a slowdown in consumer spending in China. Group revenue for the three months ended Sep 30 came in at 6.4 billion euros (S$9.1 billion), below analysts’ forecasts of 6.58 billion euros, according to a Visible Alpha consensus cited…
Read MoreDollar jumps as retail sales confirm strong US economy
THE US dollar jumped to an 11-week high on Thursday (Oct 17) after data showed that US retail sales increased slightly more than expected in September, boosting confidence that the US economy remains strong. It followed a relatively muted currency reaction to the European Central Bank’s decision to cut rates by 25 basis points, as…
Read MoreUniCredit in court limbo over ECB’s Russia demands: sources
UNICREDIT is still awaiting a court decision over whether it must immediately reduce its Russia business to comply with an order by the European Central Bank (ECB), months after filing an objection, people familiar with the situation told Reuters. The near four-month wait for a decision increases pressure on the lender to show it is…
Read More🤑 Is financial freedom just about getting rich quick and retiring early? Here’s what we think
🧮 Numbers game We’re familiar with various financial goals such as saving S$100,000 by 30, or retiring by 45 with enough to live comfortably for the rest of one’s life. But let’s take a step back – how were these figures decided on? Could they simply be arbitrary markers of success? The FIRE movement is…
Read MoreHyundai Motor India’s record US$3.3 billion IPO oversubscribed on final day
The US$3.3-billion IPO of Hyundai Motor India, the country’s largest yet, was fully subscribed on its final day on Thursday (Oct 17) as institutional investors bid aggressively, though pricing concerns deterred retail investors. As companies rush to go public after a sharp run-up in the Indian equities market this year, Hyundai Motor’s first listing outside…
Read MoreSelf-driving startup Pony.ai plans to publicly file for US IPO: sources
It develops and operates self-driving fleets in the US and China, and manages vehicles which include trucks and robotaxis AUTONOMOUS driving startup Pony.ai plans to file publicly for an initial public offering (IPO) in the US as soon as this week, sources said. The company is looking to raise as much as US$300 million from…
Read MoreNokia Q3 profit beats expectation, sees signs of recovery
FINNISH telecom equipment supplier Nokia on Thursday (Oct 17) reported a 9 per cent rise in third-quarter operating profit, and echoed rival Ericsson in seeing demand recovery in some areas. “I am optimistic we are now turning the corner in many parts of our business, even if some continue to experience market weakness,” chief executive…
Read MoreCathay Pacific’s new business class is all about quiet luxury
ON EMIRATES, passengers in business class have a bartender to mix a cocktail mid-flight. Virgin Atlantic Airways offers the Loft Lounge, a sky-high saloon where travellers can relax on red leather banquettes. Now Cathay Pacific Airways is introducing an airborne art gallery. Hong Kong’s flag carrier revealed its refreshed business class cabin on Wednesday (Oct…
Read MoreGold holds below record high ahead of US data
GOLD prices held below record levels on Thursday (Oct 17) as investors looked forward to a slew of US economic data that could offer more clues on the Federal Reserve’s monetary easing path. Spot gold was little changed at US$2,674.96 per ounce, as at 0025 GMT. Prices rose to a session high of US$2,685.16 on…
Read MoreSembcorp secures 150 MW wind-solar power project in India
STATE-OWNED Solar Energy Corporation of India (SECI) has awarded a 150 megawatt (MW) wind-solar hybrid power project to Sembcorp Green Infra – Sembcorp Industries’ wholly owned renewables subsidiary. The build-own-operate project, which will be connected to India’s interstate transmission system for electricity, is part of a 600 MW bid issued by the SECI. On Thursday…
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