Posts by Mark Darwin
Hot stocks: US office S-Reits rise on Federal Reserve’s rate cut
PURE-PLAY US office real estate investment trusts (Reits) listed in Singapore were trading in positive territory on Thursday (Sep 19) morning, following interest rate cut of 50 basis points by the US Federal Reserve. Manulife US Reit (MUST) hit a high of US$0.135 shortly after the market opened, gaining 8.9 per cent or US$0.011. Prime…
Read MoreGold flat after bumper Fed rate cut
GOLD struggled for momentum on Thursday (Sep 19) as market participants digested Federal Reserve chair Jerome Powell’s comments after the US central bank delivered a super-sized rate cut. Spot gold was little changed at US$2,558.00 per ounce, as at 0033 GMT. Bullion rose to a record high of US$2,599.92 on Wednesday before closing lower. US…
Read MoreUpdate makes X available again to many in Brazil
SOCIAL-MEDIA platform X became accessible to many users in Brazil on Wednesday (Sep 18) as an update to its communications network circumvented a block order by the country’s Supreme Court. The X update used cloud services offered by third parties, allowing some Brazilian users to take a route outside of the country to reach X,…
Read MoreLondon house prices defy national mood with drop in July
HOUSE prices in London backtracked in July as uncertainty around the tax plans of the new Labour government weighed on sentiment in the capital. The average price of a home fell 0.4 per cent in the year till July to £521,000 (S$891,747), according to Land Registry data reported by the Office for National Statistics (ONS).…
Read MoreTupperware lenders fight over assets, including brand name
UNTIL Tuesday (Oct 17), Tupperware had been a familiar, but fading, American brand, synonymous with storing leftovers in the fridge. Now, the name Tupperware itself stands to grow even more stale as lenders fight each other and the company in bankruptcy court. Tupperware Brands filed for Chapter 11 protection on Tuesday in Wilmington, Delaware. The…
Read MoreBarclays expands industrial franchise with US hires, promotion
BARCLAYS is expanding its investment banking franchise in North America with two hires and a promotion in its industrial practice. The bank hired Derek McNulty as global co-head of chemicals investment banking, Derek Davidson as head of Americas commercial, residential and industrials services and named Jared Itkowitz as head of Americas transportation and logistics, according…
Read MoreCordlife’s business reset may give minority shareholders the best chance to bail out fast
There is much uncertainty for the company’s minority shareholders amid substantial shareholder dispute, possible lawsuits CORDLIFE Group has been granted a reprieve, following the Ministry of Health’s (MOH) notice on Aug 29 that it could resume some cord-blood banking services in a “controlled manner” from Sep 15. Although this signals that things could be getting…
Read MoreEU says no merger scrutiny of Microsoft’s hiring of Inflection staff
MICROSOFT’S hiring of artificial intelligence startup Inflection’s staff including its co-founders will not be scrutinised under European Union merger rules, EU antitrust regulators said on Wednesday (Sep 18). The European Commission said seven EU countries had dropped their requests asking it to examine the deal. The move followed a ruling from Europe’s top court earlier…
Read MoreVolkswagen plans stop to production at jointly-owned China plant
VOLKSWAGEN is planning to stop production at one of its combustion engine car plants in China, a person with direct knowledge of the matter said, in a sign of carmakers’ struggles to manage overcapacity in the world’s biggest car market. The carmaker, along with its joint venture partner SAIC Motor, will gradually shift production of…
Read MoreYouTube and Shopee partner in South-east Asia e-commerce tie-up
ALPHABET’S YouTube and e-commerce platform Shopee said on Wednesday (Sep 18) they were launching an online shopping service in Indonesia and planned to expand it in South-east Asia as competition picks up with a rival operator owned by TikTok. Under the YouTube Shopping tie-up, people will be able to purchase goods viewed on YouTube through…
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