Posts by Mark Darwin
Wall Street opens lower as yields rise after GDP data
[NEW YORK] US stock indexes opened lower on Tuesday (Dec 23) after stronger-than-expected economic data drove Treasury yields higher, weighing on heavyweight technology stocks. At 09.30 am ET, the Dow Jones Industrial Average fell 62.81 points, or 0.13 per cent, to 48,299.87. The S&P 500 lost 4.69 points, or 0.07 per cent, to 6,873.80, while…
Read MoreChina’s renminbi climbs to 15-month high, overcoming weak PBOC fixing
On Dec 23, onshore yuan ends at 7.0287 per US dollar, while its offshore counterpart fetches 7.0181 at 4.30pm SGT [SHANGHAI] China’s renminbi climbed to a 15-month high against a weakening US dollar on Tuesday (Dec 23), even as the central bank signalled rising unease over the currency’s recent rally via its official guidance fix.…
Read MoreA Trump-inspired ‘Big Beautiful’ baby bonus could help birth the next boom for Singapore equities
It wouldn’t cost much relatively, and it could pave the way for stock investments to be part of our lives – while helping to make SGX great again [SINGAPORE] US President Donald Trump is one of the most divisive figures in recent history. And it is not often that his policies – and outlandish remarks…
Read MoreCitigroup, Daiwa are latest to expand Japan dealmaking teams
This is due to hostile takeovers no longer being taboo, and private equity and activist investors are more prominent [TOKYO] It is a good time to be an investment banker in Japan, with Citigroup and Daiwa Securities Group joining a raft of firms that are seeking to expand their advisory teams during the nation’s dealmaking…
Read MoreFu Yu’s largest shareholder Victor Lim reinstated as director of strategy, makes new bid for board membership
Reinstatement is in view of his ‘ability to contribute to the group’, says company without further elaboration [SINGAPORE] Components manufacturer Fu Yu has since Nov 1 reinstated its largest shareholder Victor Lim as director of strategy, a role he held for four years before leaving the company in March. The nominating committee is currently reviewing…
Read MoreSaks mulls bankruptcy year after raising billions for turnaround
SAKS Global Enterprises, facing limited options ahead of a more than US$100 million debt payment due at the end of this month, is considering Chapter 11 bankruptcy as a last resort, according to people with knowledge of the situation. The company is also weighing additional ways to shore up liquidity, including raising emergency financing or…
Read MoreWall Street climbs as tech rebound gathers momentum
[NEW YORK] US stocks rose on Monday (Dec 22), kicking off the holiday-shortened week on a positive note, as technology stocks continued to rebound from last week’s sell-off, while investors awaited key economic data later this week. The Dow Jones Industrial Average rose 0.45 per cent, the S&P 500 gained 0.58 per cent and the…
Read MoreNvidia aims to begin H200 chip shipments to China by mid-February
It will provide access to processors roughly 6 times more powerful than the H20, a downgraded chip designed for China [WASHINGTON] Nvidia has told Chinese clients it aims to start shipping its second-most powerful artificial intelligence (AI) chips to China before the Chinese New Year holiday in mid-February, said three people familiar with the matter.…
Read MoreHTC bets its open AI strategy to drive smart glasses sales
The glasses support multiple platforms, letting users benefit from improvements by various models [TAIPEI] Taiwan’s HTC is betting its open platform strategy will allow it to build market share in the fast-growing smart glasses industry, as its newly launched artificial intelligence (AI)-powered eyewear lets wearers choose which AI model they want to use, its executive…
Read MoreChina’s power reforms, global data centre buildout usher in battery boom
[BEIJING] A revamp of China’s electricity market is boosting the economics of storing power just as international demand surges, sparking a boom for the Chinese energy storage manufacturers that already dominate globally. Chinese firms are on track for a 75 per cent jump this year in global shipments of lithium-ion battery cells for energy storage,…
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