Posts by Mark Darwin
TSMC’s August revenue climbs 33% as AI chip demand holds up
TAIWAN Semiconductor Manufacturing Company’s (TSMC) revenue rose 33 per cent in August. Its sales reached NT$250.9 billion (S$10.2 billion), slowing from the previous month’s 45 per cent growth pace. Still, this is a positive signal to investors betting on a smartphone market recovery and sustained demand for Nvidia’s artificial intelligence (AI) chips. For the third…
Read MoreJapan’s Nikkei falls for sixth day ahead of US inflation data, Fed decision
The broader Topix also gave up early gains to end 0.35% lower at 2,576.54, its fifth straight session losses Japan’s Nikkei share average fell for a sixth straight session on Tuesday (Sep 10) as investors exercised caution ahead of the US inflation report and the Federal Reserve’s policy decision. The Nikkei ended 0.16 per cent…
Read MoreChina auto suppliers and EV makers flood major trade fair in Germany
NEARLY 900 Chinese auto suppliers and a handful of electric vehicle (EV) makers are showcasing their products at a trade fair in Frankfurt as the country’s car sector defies looming trading barriers to expand its global footprint and counter eroding profitability at home. Chinese carmakers including BYD, Geely, Hongqi and GAC International were set to…
Read MorePoint-to-point fares, earnings have ‘moderated’ as supply outstrips demand: Amy Khor
DRIVERS’ earnings in Singapore’s point-to-point (P2P) transport sector – including taxis and private hire cars (PHCs) – have fallen, as supply has risen more than demand, Senior Minister of State for Transport Amy Khor said in Parliament on Tuesday (Sep 10). In the second quarter of 2024, the number of active PHCs and taxis rose…
Read MoreHong Kong’s CK Hutchison plans to raise up to US$1.5 billion in dollar bonds: sources
HONG Kong conglomerate CK Hutchison is planning to raise up to US$1.5 billion in a two-tranche US dollar bond deal, according to two sources with direct knowledge of the matter. The company is looking at issuing a 5.5-year and 10-year US dollar bond, a term sheet seen by Reuters on Tuesday (Sep 10) showed. CK…
Read MoreBYD lifts annual sales target to four million EVs, plug-in hybrids
CHINESE electric-vehicle (EV) maker BYD has raised its annual sales forecast thanks to a surge in purchases of plug-in hybrid vehicles. The Shenzhen-based EV giant has lifted its annual target to four million units, Morgan Stanley auto analysts led by Tim Hsiao wrote in a note on Monday (Sep 9), citing comments from BYD’s management.…
Read MoreGold prices flat as investors gear up for US inflation report
GOLD prices remained stable on Tuesday (Sep 10) as market participants focused on August inflation figures for hints about a likely reduction in Federal Reserve interest rates this month. Spot gold was flat at US$2,504.98 per ounce, as at 0027 GMT. US gold futures edged 0.1 per cent higher to US$2,533.70. Trader attention on Wednesday…
Read MoreBoeing delays suppliers’ 737 MAX output goal by 6 months: sources
BOEING has told suppliers it is delaying a key production milestone for its 737 MAX by six months, three industry sources said, in a sign the planemaker is struggling to boost production of its best-selling jet. Boeing’s latest 737 supplier master schedule communicated to the industry calls for MAX output to reach 42 a month…
Read MoreUnder Armour expects bigger charges from restructuring plan
UNDER Armour lowered its outlook for its current fiscal year, saying the company’s restructuring plan is going to cost more than management predicted. The athletic-wear brand said it decided to close a distribution centre in Rialto, California by March 2026, which will add about US$70 million in extra expenses to its turnaround strategy. Under Armour…
Read MoreUS takes on Google’s ad tech empire in antitrust trial
GOOGLE faced its second major antitrust trial in less than a year on Monday, with the US government accusing the tech giant of unfairly dominating online advertising and stifling competition. The trial in a Virginia federal court followed a separate case where a judge last month found Google’s search business to be an illegal monopoly.…
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