Posts by Mark Darwin
Australia’s Harvey Norman served with class action over warranties
AUSTRALIA’S biggest appliance retailer Harvey Norman and one of its units have been served with a class action lawsuit on behalf of consumers who were allegedly sold bad warranties, law firm Echo Law said on Wednesday (Sep 18). The class action is based on allegations that extended warranties sold by Harvey Norman offered “little or…
Read MoreBrokers’ take: RHB raises ST Engineering’s target on upbeat earnings outlook
RHB raised its target price on Singapore Technologies Engineering (ST Engineering) to S$5.32 from S$5 after rolling forward its valuation base year to fiscal year 2025. It has a “buy” recommendation on the counter. The rating comes as the counter’s share price has outperformed the Straits Times Index and is likely to continue, said analyst…
Read MoreChina’s central bank delays one-year loan operation again
CHINA’S central bank announced it will inject one-year liquidity to domestic lenders on Sep 25, marking another delay amid a broad overhaul of its policy toolkit. The People’s Bank of China (PBOC ) will renew the medium-term lending facility (MLF) funds maturing Sep 18 later this month, according to a statement on Wednesday (Sep 18).…
Read MoreGoldman Sachs taps Rob Drake-Brockman as CEO for Singapore business
GOLDMAN Sachs appointed Rob Drake-Brockman as chief executive officer of its Singapore office, as the city-state rises in importance for the Wall Street firm. Drake-Brockman, who will continue as head of equities distribution and execution for Asia-Pacific, takes over from James Ellery, who is moving to London, according to a statement. Goldman Sachs employs more…
Read MoreStocks to watch: Sembcorp, LMIRT
THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 18): Sembcorp: The group’s subsidiary Sembcorp Utilities agreed to acquire a 30 per cent interest in energy supplier Senoko Energy for an undisclosed sum in a purchase agreement signed with energy solutions provider Engie Global Developments, said Sembcorp on…
Read MoreTikTok is becoming a popular news source for American adults
TIKTOK is becoming a regular news source for a growing number of Americans, including young adults, according to a new survey, a sign more people are turning to the video app for online debate about politics. About 17 per cent of US adults say they regularly get news from the site owned by China-based ByteDance…
Read MoreElectronic Arts confident about annual bookings, announces new ‘Battlefield’ title
VIDEOGAME publisher Electronic Arts (EA) said it expects to achieve the high end of its annual bookings forecast and unveiled the next instalment of its multi-player shooter game Battlefield at its investor day conference on Tuesday (Sep 17). The new title will mark a return to the modern-day setting, after three consecutive games set in…
Read MoreFighting the good fight for small investors
IN ONE of its early battles, the Securities Investors Association (Singapore), or Sias, found itself in the middle of a heated dispute involving NatSteel, a company then listed on the Singapore stock exchange. The company had proposed making dividend payments conditional on shareholders approving a change to its memorandum and articles of association, an amendment…
Read MoreLuckin Coffee to buy US$2.5 billion worth of Brazilian coffee
CHINA’S Luckin Coffee is set to announce later this year an agreement with Brazil to buy some US$2.5 billion worth of coffee from the South American country’s producers, a Brazilian official said on Tuesday (Sep 17). “We have already negotiated the next Luckin Coffee announcement, they want to disclose it at the time of the…
Read MoreUS Fed begins two-day meeting set to end with rate cut
The US Federal Reserve began a two-day interest rate discussion on Tuesday (Sep 17) that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease. The meeting began at 10.30am in Washington (1430 GMT), the US central bank announced in a statement. The Fed’s rate decision will be announced…
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