Posts by Mark Darwin
Amazon’s quarterly profit doubles as cloud business grows
AMAZON reported on Thursday its profit in the recently ended quarter doubled to US$13.5 billion with the help of renewed momentum of its AWS cloud computing business. The e-commerce giant’s sales of US$148 billion fell just shy of lofty market expectations, however, and shares slid more than four per cent to US$176.50 in after-market trades.…
Read MoreFrasers Hospitality Trust reports mixed RevPAR performance across markets in 9M FY2024
FRASERS Hospitality Trust (FHT) had mixed performance in revenue per available room (RevPAR) across its markets for the nine months ended June, indicated its business update on Thursday (Aug 1). The trust had a 7.2 per cent year-on-year drop in 9M RevPAR in Singapore, with occupancy down six percentage points. “This was largely due to…
Read MoreHongkong Land posts H1 underlying loss of US$7 million on non-cash provisions to China properties
PROPERTY developer Hongkong Land on Thursday (Aug 1) posted an underlying loss of US$7 million for the six months ended Jun 30, compared with an underlying net profit of US$422 million in the corresponding period last year. This was attributed to a non-cash provision of US$295 million in the carrying value of some projects in…
Read MoreUS dollar climbs after Fed decision while pound slides as BOE cuts rates
THE US dollar rallied on Thursday (Aug 1) after falling the previous day as central banks continued to roil currency markets, while sterling fell to a four-week low after the Bank of England (BOE) cut interest rates from a 16-year high. The dollar index, which tracks the currency against six others, was up 0.35 per…
Read MoreThomson Reuters raises sales forecast as earnings top estimates
THOMSON Reuters reported second-quarter earnings that topped Wall Street expectations on Thursday (Aug 1) as revenue rose 6 per cent and it continued to aggressively deploy artificial intelligence technology for its customers. The company now forecasts full year revenue at the high end of projections, or a rise of about 7 per cent. The Toronto-based…
Read More🙍 Has your work and personal life been affected by adverse childhood experiences?
💸 Trauma costs (literally) Everyone has been through some degree of hardship in their lives – but when do these events have more longstanding and severe consequences than expected 🤔? A study that began in 2016 conducted by the Institute of Mental Health (IMH), in collaboration with KK Women’s and Children’s Hospital (KKH), found that…
Read MoreMUFG profit beats estimates with tailwind from rising rates
MITSUBISHI UFJ Financial Group reported quarterly profit that beat estimates, joining smaller rival Mizuho Financial Group in pointing to higher revenue from loans driven by rising rates in Japan. The nation’s largest bank said net income came in at 555.9 billion yen (S$5 billion) for its fiscal first quarter ended in June, accounting for…
Read MoreDHL beats expectations on Q2 sales and profit
GERMAN logistics giant DHL reported second-quarter revenue and earnings slightly above expectations on Thursday (Aug 1) as air and ocean freight volumes showed modest improvements from a low starting level. Quarterly revenue rose 2.7 per cent from a year earlier to 20.6 billion euros (S$29.8 billion), ahead of analysts’ mean forecast of 20.3 billion euros,…
Read MoreSK Innovation sees strong refining margins; battery unit keeps break-even target
SK INNOVATION said on Thursday (Aug 1) it expects strong oil refining margins in the second half of the year as Opec+ production cuts buoy prices and the peak demand season for transportation, cooling and industrial use begins. The owner of South Korea’s biggest refiner, SK Energy, posted an operating loss of 46 billion won…
Read MoreBig tech beats Bitcoin as unwinding Donald Trump trade weighs on token
BITCOIN missed out on a cross-asset rally stoked by dovish Federal Reserve comments as a tightening US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda. The digital asset slid 2.4 per cent on Wednesday (Jul 31), trailing a Fed-fuelled surge in an index of the Magnificent…
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