Posts by Mark Darwin
US Federal Reserve chair expected to signal support for rate cuts
US FEDERAL Reserve chair Jerome Powell is widely expected to use a keynote speech at a major central banking conference on Friday to signal support for cutting interest rates ahead of next month’s rate decision. The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial…
Read MoreSabana Reit trustee says requisitionists’ proposed internal manager directors must obtain MAS approval
THE trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) said the requisitionists’ proposed candidates to be directors of the internal manager must first meet regulatory requirements. The six candidates must also be approved by the Monetary Authority of Singapore (MAS) to be appointed as directors, said HSBC Institutional Trust Services on Friday (Aug…
Read MoreSabana Reit trustee: Requisitionists’ proposed internal manager directors must obtain MAS approval
THE trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) said the requisitionists’ proposed candidates for directorship in the internal manager must first meet regulatory requirements. The six candidates must be approved by the Monetary Authority of Singapore (MAS) to be appointed as directors, said HSBC Institutional Trust Services on Friday (Aug 23). This…
Read MoreNestle replaces CEO Schneider with company veteran Freixe
NESTLE chief executive Mark Schneider is leaving the Swiss food group after eight years in charge and will be replaced by Latin America boss Laurent Freixe, the company said on Thursday. Schneider “has decided to relinquish his roles as CEO and member of the Board of Directors”, Nestle said in a statement, adding that the…
Read MoreEurope: Stocks rise on rate cut hopes, healthcare sector hits record high
EUROPE’S main stock index climbed on Thursday, with healthcare and retail stocks leading the charge, while investors cheered growing prospects of interest rate cuts by major central banks and sifted through a wave of economic data globally. The pan-European Stoxx 600 index closed 0.4 per cent higher, rising for the second day and closing at its highest…
Read MoreChina’s real estate woes weigh down S-Reits, but retail sector could be bright spot
Rental reversions in the segment are starting to turn positive amid a recovery in consumer spending SINGAPORE-LISTED real estate investment trusts (S-Reits) with exposure to China will continue to see downward pressure on their valuations in the coming quarters amid the ongoing slump in China’s property market. However, the country’s retail sector, which is starting…
Read MoreUS: Wall St opens higher as prospects of September rate cut grow
Wall Street’s main indexes opened higher on Thursday (Aug 22), as investors were more hopeful the Federal Reserve would kick off its interest rate cut cycle next month, while awaiting policymakers’ commentary at Jackson Hole this week. The Dow Jones Industrial Average rose 41.7 points, or 0.10 per cent, at the open to 40,932.23. The…
Read MorePound at new 13-month high, wage data nudges euro
BUSINESS activity data helped lift the pound to a new 13-month high against the US dollar on Thursday (Aug 22) and kept the euro just shy of a similar peak. Sterling rose 0.21 per cent to US$1.3129, its highest since July 2023. Should it squeeze past the US$1.3143 hit then, the British currency would be…
Read MoreCapitaLand India Trust prices S$150 million notes at 3.7%
CAPITALAND India Trust’s (Clint) trustee-manager announced on Thursday (Aug 22) that it has priced S$150 million notes at 3.7 per cent per annum. The interest on the notes, which are due in 2027, will be payable semi-annually in arrear. The notes are expected to be rated “BBB-” by Fitch Ratings. The trustee-manager added that DBS…
Read MoreChanel buys minority stake in cutting-edge Swiss watchmaker MB&F
Chanel is buying a minority stake in Swiss watch brand MB&F in a deal that will give the independent watchmaker financial security while boosting the French fashion brand’s standing in the high horology industry. Known for its cutting-edge designs and innovative watch movements, the Max Büsser & Friends (MB&F) brand will sell a 25 per…
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