Posts by Mark Darwin
McDonald’s CEO says company is preparing for ‘challenging’ 2025
MCDONALD’S expects that the wallets of their lower-income customers will remain stretched into next year, chief executive officer Chris Kempczinski said on Thursday (Oct 10). “We are starting to talk about 2025, and my message to our teams has been: ‘We need to be preparing for another challenging year,’” he said in remarks at a…
Read MoreCiti, Mastercard team up on cross-border debit-card payments
MASTERCARD and Citigroup are collaborating to facilitate around-the-clock, cross-border payments with debit cards, giving consumers and companies another way to conduct business worldwide. Citigroup is the first global bank to use the service, known as Mastercard Move, which will allow users to make transactions such as insurance payouts, airline refunds and e-commerce payments, the…
Read MoreAutonomous driving profit margins will take years to grow, Uber CEO says
UBER Technologies has been prioritising safety over profits, as the company develops its autonomous driving fleet. “The most important factor is, ‘Can we make this technology safe? Can we build trust for riders, for example, in markets where we offer autonomous, half of our riders say, no thank you?’” said chief executive officer Dara Khosrowshahi.…
Read MoreStraits Trading Company, SDAX to leverage cross offerings in new partnership
The tie-up offers Straits Trading Shareholders’ Club members and SDAX clients access to exclusive investment opportunities THE Straits Trading Company (STC) has partnered Singapore’s Digital Asset Exchange (SDAX) to offer clients from both sides access to their respective services. On Thursday (Oct 10), STC said the collaboration will offer members of Straits Trading Shareholders’ Club access…
Read MoreJapanese stocks see biggest weekly foreign inflows in six months
Exchange data showed that foreigners pumped about 395.55 billion yen into Japanese cash equities Foreign investors increased their purchases of Japanese stocks in the week ended Oct 5, as the yen weakened following Prime Minister Shigeru Ishiba’s dovish remarks, boosting appetite for local exporters. Foreigners acquired Japanese stocks worth 919.3 billion yen (S$8.06 billion) on…
Read MoreSeven & i restructuring, profit outlook are in focus at earnings
SEVEN & i Holdings is set to report quarterly earnings at a critical time, with much of the focus on what it will say about restructuring and its profit outlook, after the Japanese retailer received a higher buyout offer from Alimentation Couche-Tard. News has been trickling out over the past week suggesting that the owner…
Read MoreChina sets terms for merger to create US$226 billion brokerage
GUOTAI Junan Securities and Haitong Securities unveiled the terms of their proposed merger to create a state-backed brokerage with US$226 billion in assets to compete with Wall Street firms expanding in the country. Under the share swap deal, Guotai Junan will issue A shares and H shares to all holders of its smaller rival Haitong…
Read MoreIndia’s Adani Enterprises launches 166 billion rupees share sale to institutional investors
ADANI Enterprises on Wednesday (Oct 9) launched a share sale to institutional investors to raise up to 166 billion rupees (S$2.6 billion), as billionaire Gautam Adani’s flagship firm seeks to shore up capital to fund expenses and repay debt. The share sale marks the company’s return to equity fund-raising after it scrapped a US$2.5 billion…
Read MoreMizuho buys ‘safe’ assets on risk that US soft landing fails
MIZUHO Financial Group is preparing for short-term market disruptions if investors’ predictions of a soft landing in the US prove wrong, by stocking up on easy-to-sell assets such as Treasuries. Market players appear overconfident that US policymakers will be able to tame inflation without causing a recession, Kenya Koshimizu, co-head of global markets at Japan’s…
Read MoreMetro acquires freehold Sydney prime office property for A$196.4 million
MAINBOARD-LISTED Metro Holdings on Wednesday (Oct 9) announced the acquisition of a freehold prime office property in Sydney, Australia, for A$196.4 million (S$172.3 million). The 27-storey office building is located in the financial core of Sydney’s central business district, and was bought by Metro with its joint venture partner, Sim Lian Group of Companies. Refurbished…
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