Posts by Mark Darwin
Economists expect MAS to hold currency band steady amid sticky prices
SINGAPORE is set to buck the global easing trend and keep its policy bearings on hold as officials use the strength of the currency to tackle still-exorbitant living costs. The Monetary Authority of Singapore (MAS) is expected to keep the slope, centre and width of its currency band steady, though policymakers may strike a dovish…
Read MoreJ&J talc bankruptcy stays in Texas despite ‘forum-shopping’ opposition
A JOHNSON & Johnson (J&J) subsidiary can pursue its third attempt to resolve tens of thousands of lawsuits alleging its talc products caused cancer in a federal bankruptcy court in Texas, a judge ruled on Thursday (Oct 10), allowing the company to avoid a venue that shot down its two previous efforts. US bankruptcy judge…
Read MoreSeven & i will split into two to fend off Couche-Tard takeover
SEVEN & i Holdings is embarking on its biggest-ever overhaul, betting that a bold breakup will help fend off an unsolicited takeover proposal from a smaller rival and make up for a sluggish profit outlook. “We are going to speed up our transformation,” chief executive officer Ryuichi Isaka said in his first remarks since a…
Read MoreMcDonald’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…
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