Posts by Mark Darwin
US: Stocks make small gains ahead of Nvidia results
WALL Street stocks ended Tuesday slightly higher as markets look ahead to an earnings report by chipmaker Nvidia this week. The broad-based S&P 500 gained 0.2 per cent to 5,625.80, as did the tech-rich Nasdaq Composite Index, which closed at 17,754.82. The Dow Jones Industrial Average was flat at 41,250.50. Stocks are treading water as investors await AI…
Read MoreWalmart takes on Amazon by adding pre-owned watches, collectibles to marketplace
WALMART is bringing pre-owned watches and collectible trading cards to its online marketplace as the retailer looks to further beef up its e-commerce business and grab more spending from rivals such as eBay and Amazon.com The company is expanding the assortment on its marketplace, which offers merchandise from third-party vendors, to meet customer demand, according…
Read MoreLum Chang swings back to black with S$3.7 million H2 net profit
CONSTRUCTION company Lum Chang posted a net profit of S$3.7 million for the second half of its 2024 fiscal year ended Jun 30, reversing its net loss of S$29.3 million over the same period last year. Revenue for H2 FY2024 rose 36 per cent to S$267.8 million, from S$196.7 million in the year-ago period. Earnings…
Read MoreUS says escorting Philippine ships in South China Sea an option
Washington has repeatedly assured Manila of its “ironclad” commitment to defend its long-time ally The US is willing to accompany Philippine vessels during resupply missions in the disputed South China Sea amid recurring confrontations with Chinese ships, according to a senior military official. “Certainly within the context of consultations, every option between two sovereign nations…
Read MoreWing Tai’s H2 net loss widens to S$99.2 million
PROPERTY developer Wing Tai Holdings widened its net loss in the second half of its 2024 fiscal year ended Jun 30 to S$99.2 million, nearly doubling its losses from S$50 million a year ago. Its revenue also fell by 67 per cent to S$71.5 million over the same period, mainly due to lower contributions from…
Read MoreWing Tai H2 net loss widens to S$99.2 million
PROPERTY developer Wing Tai Holdings widened its net loss in the second half of its 2024 fiscal year ended Jun 30 to S$99.2 million, nearly doubling its losses from S$50 million a year ago. Its revenue also fell by 67 per cent to S$71.5 million over the same period, mainly due to lower contributions from…
Read MoreSony, India’s Zee settle dispute over scrapped US$10 billion merger
INDIA’S Zee Entertainment Enterprises and Sony’s unit in the country have agreed to withdraw all claims against each other related to their failed US$10 billion merger, Zee said on Tuesday (Aug 27). The two companies scrapped the merger in January, in part because Zee failed to meet some financial terms of the deal, Reuters had…
Read MoreNew listings, liquidity, regulatory framework, governance among priorities for MAS review of equities market
THE Monetary Authority of Singapore’s (MAS) new review group has identified priority areas for two workstreams amid its ongoing review of local equity markets. Called the Equities Market Review Group, the panel was set up earlier this month to recommend measures to aid in the development of equities in Singapore. It is chaired by Second…
Read MorePDD’s US$55 billion stock crash sends warning on Chinese economy
ONE of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods. In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD Holdings on Monday (Aug 26) surprised investors with an…
Read MoreSkydance set to seal Paramount merger after Bronfman drops out
PRODUCER David Ellison’s Skydance Media is set to become the new owner of Paramount Global after Seagram heir Edgar Bronfman Jr dropped out, ending one of the industry’s most dramatic acquisition contests. The storied Hollywood studio said it expects to complete the deal with Skydance in the first half of 2025 as it confirmed Bronfman’s…
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