Posts by Mark Darwin
Semicon still stumbling
In this issue:
Read MoreGold prices poised for monthly gain; focus on US data
GOLD prices were little changed on Friday, but were poised for a monthly gain on prospects of a US interest rate cut in September, while traders awaited key US inflation data for further insights. Spot gold was down 0.1 per cent at US$2,517.91 per ounce, as of 0037 GMT, and was on track to log its second consecutive…
Read MoreCharacter.AI lays off at least 5% of its staff, The Information reports
CHATBOT startup Character.AI laid off at least 5 per cent of its staff, The Information reported on Thursday, citing a person briefed by company leaders. The employees who were laid off mostly worked on marketing and recruiting for the startup, the report said. “We are refocusing the company to ensure all roles align with our…
Read MoreThyssenkrupp crisis deepens as heads of steel unit quit
THE crisis at the steel unit of Thyssenkrupp deepened on Thursday as its chief executive and the head of its supervisory board quit over their ongoing conflict with the German conglomerate’s CEO. Sigmar Gabriel, a former economy minister from the Social Democrat party, said at a press conference that he was quitting as head of…
Read MoreEurope: Inflation data helps stocks shake off Nvidia results; Delivery Hero surges
EUROPE’S Stoxx 600 rose on Thursday and Germany’s DAX closed at a record high, led by tech stocks, after softer inflation data lifted hopes for interest-rate cuts and offset some disappointment around Nvidia’s quarterly results. German inflation eased to 2 per cent in August, data showed, below the 2.3 per cent forecast by analysts. Prices…
Read MoreCo-lending makes headway as South-east Asia’s private credit space matures
The practice may catch on as roles of banks change, and they look to boost expertise or diversify portfolio PRIVATE credit managers are making inroads into South-east Asia with co-lending offerings, as the industry grows and investors develop a deeper understanding of the asset class. Co-lending is to private credit what co-investing is to private…
Read MoreEuro slips after inflation data, concerns over German politics
THE euro fell versus the dollar after inflation data from Germany and Spain led investors to increase their bets on the European Central Bank (ECB) interest rate easing cycle. Inflation fell in six important German states in August, suggesting that national inflation could decline noticeably this month, while dropping to its slowest pace in a…
Read MoreUS: Wall Street opens higher after Nvidia results, economic data
WALL Street’s main indices opened higher on Thursday (Aug 29) following AI chip firm Nvidia’s largely in-line forecast and as data showed the US economy remained robust, adding to expectations of a September interest rate cut. The Dow Jones Industrial Average rose 254.08 points, or 0.62 per cent, at the open to 41,345.50. The S&P…
Read MoreIHH Healthcare Q2 net profit more than doubles to RM623 million
PRIVATE healthcare group IHH Healthcare posted a net profit of RM623 million (S$188 million) for the second quarter of its 2024 fiscal year ended Jun 30. Net profit more than doubled from RM301 million for the same period the year before, on the back of strong operational performance and the positive impact of deferred tax…
Read MoreSingapore shares gain on Thursday; STI up 0.4%
This comes after chipmaker Nvidia posts Q2 revenue of US$30 billion, beating estimates, though pace of growth is slower SINGAPORE equities gained on Thursday (Aug 29), as investors assessed chip giant Nvidia’s second-quarter revenue growth. The benchmark Straits Times Index (STI) rose 0.4 per cent or 13.44 points to 3,404.47. Across the broader market, gainers…
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