Posts by Mark Darwin
Fed rate cuts have mixed impact on stocks, so don’t get carried away
Investors should carefully examine the thesis for any purchases, especially since equities have been on a generally upward trajectory for the last two years THE United States Federal Reserve is almost certain to deliver an interest rate cut next month, and strategists are predicting positive movements in many parts of the market. Past trading patterns,…
Read MoreOil traders remain split on whether Opec+ will revive supplies as planned
Oil watchers remain divided over whether Opec+ will go ahead with a planned production revival next quarter, as demand fears continue to pressure prices. Twelve respondents in a Bloomberg survey of traders, refiners and analysts predicted the cartel will proceed, while 11 expect it will postpone the hike. Another five forecast the increase will either…
Read MoreChinese electric car maker BYD posts 33% profit rise
CHINESE electric vehicle maker BYD reported a 32.8 per cent rise in second-quarter net profit on Wednesday (Aug 28), its fastest growth since end-2023, despite faltering spending on big-ticket items in the world’s largest automobile market. Net profit hit 9.1 billion yuan (S$1.7 billion) in the April-to-June quarter, while revenue was up 25.9 per cent…
Read MoreChinese electric car maker BYD posts 33% profit rise
CHINESE electric vehicle maker BYD reported a 32.8 per cent rise in second-quarter net profit on Wednesday (Aug 28), its fastest growth since end-2023, despite faltering spending on big-ticket items in the world’s largest automobile market. Net profit hit 9.1 billion yuan (S$1.7 billion) in the April-to-June quarter, while revenue was up 25.9 per cent…
Read MoreAdani Enterprises’ debut public bond sale to see strong demand, bankers say
THE maiden public issue of bonds by India’s Adani Enterprises is expected to witness strong demand as yields are attractive, four merchant bankers said on Wednesday (Aug 28). The company plans to raise up to eight billion rupees (S$124.2 million) through this issue, which includes a greenshoe option of four billion rupees. The issue, which…
Read MoreNvidia’s earnings will test the S&P 500’s US$4 trillion recovery
The almost US$3 trillion rally in Nvidia shares over the roughly two years since ChatGPT’s unveiling has virtually rewired the US stock market, giving the artificial intelligence chipmaking giant an outsized influence on a bevy of equity indexes. Wall Street witnessed that sway during the equities rout earlier this month and the subsequent rebound, in…
Read MoreWarren Buffett reaps almost US$1 billion from sale of more BofA shares
WARREN Buffett sold an additional US$982 million of Bank of America (BofA) stock as his conglomerate continues to shrink its investment in the second-largest US bank. His Berkshire Hathaway has trimmed the stake by a total of almost 13 per cent in a series of sales since mid-July, generating US$5.4 billion in proceeds. Berkshire disclosed…
Read MoreMalaysia’s Starbucks operator hurt by anti-Israel boycott
BERJAYA Food, which operates the Starbucks coffee chain in Malaysia, posted a loss in the fourth quarter as consumer sentiment on the Middle East conflict hurt sales. The company, part of conglomerate Berjaya Corporation, reported a net loss of RM38.2 million (S$11.5 million) for the three months that ended in June, a reversal from a…
Read MoreCybercrime and sabotage cost German firms 267 billion euros in past year
CYBERCRIME and other acts of sabotage have cost German companies around 267 billion euros (S$388 billion) in the past year, up 29 per cent on the year before, according to a survey published on Wednesday (Aug 28). Industry association Bitkom surveyed around 1,000 companies from all sectors and found that 90 per cent expect more…
Read MoreHyundai to double hybrid lineup; unveils US$3 billion buyback
Hyundai Motor plans to double its lineup of hybrid cars as demand for pure electric vehicles slows, and announced a US$3 billion share buyback as part of a plan to boost investor returns. Unveiling a new strategy at its 2024 investor day on Wednesday (Aug 28), the world’s third-biggest carmaker said it will increase the…
Read More