Posts by Mark Darwin
Goldman’s top stock analyst is waiting for AI bubble to burst
OVER three decades on Wall Street, Jim Covello has learned how painful it can be to bet against an inflating tech stock bubble. The market has a way of minting riches, month after month, even after it’s clear the latest breakthroughs are not playing out quite as expected. It happened with dot-com companies in the…
Read MoreUS streaming rivals team up to catch Netflix
US VIDEO streaming companies are joining forces to attract new viewers, boost ad sales, and finally turn a profit – something only Netflix has managed to accomplish so far. Be it Disney Plus, Hulu, and Max, or ESPN, Warner Brothers Discovery and Fox – the streaming world is reshaping into unlikely alliances. The sudden team…
Read MoreHot stock: Yoma Strategic falls 8.8% after response to SGX queries about chairman in Myanmar junta custody
SGX has asked if Serge Pun’s presence in the capital and his meetings with authorities have any impact on Yoma’s financials, operations and businesses SHARES of Yoma Strategic fell 8.8 per cent on Friday (Jul 19) morning, following its responses to questions from the Singapore Exchange Securities Trading (SGX-ST) about claims that its executive chairman…
Read MoreStocks to watch: Sats, Keppel
THE following companies saw new developments that may affect trading of their securities on Friday (Jul 19): Sats: The in-flight caterer and ground handler will partner Mitsui & Co, a Japanese trading and investment company, to develop and grow their respective food and retail solutions businesses. The group said on Thursday that the partnership is…
Read MoreECB policymakers back more rate cuts as inflation heads back to goal
TWO European Central Bank policymakers on Friday (Jul 19) backed further interest rate cuts, expressing greater confidence that inflation was heading to the ECB’s goal next year. The ECB held rates steady on Thursday and its president, Christine Lagarde, said its next decision on Sep 12 was “wide open” – stopping well short of declaring…
Read MoreTesla’s California sales plunge with competitors moving in
TESLA new-car registrations fell 24 per cent year over year in California in the second quarter, the third time in a row the carmaker’s sales have fallen in the Golden State, according to a report released on Thursday (Jul 18) by the California New Car Dealers Association (CNCDA). While the Model Y remains the state’s…
Read MoreNetflix adds 8 million customers; forecast worries investors
NETFLIX extended its lead over the streaming competition, adding eight million customers in the second quarter, but a cautious forecast sent the shares lower in extended trading. The subscriber results, announced in a shareholder letter on Thursday (Jul 18), topped expectations in every region around the world and included 2.8 million new customers in the…
Read MoreKraken expands crypto institutional services to UK, Australia
CRYPTO exchange Kraken’s recently launched institutional business unit has begun offering custody services to customers in the United Kingdom and Australia. Kraken Institutional is designed for users such as hedge funds and exchange-traded fund issuers and was launched in the US by the San Francisco-area-based firm in March. The private company expects to expand its…
Read MoreAmazon Prime Day drives US online sales up 11% to US$14.2 billion
US SHOPPERS spent US$14.2 billion online during Amazon.com’s 48-hour Prime Day sale, up 11 per cent from a year ago and in line with estimates, according to Adobe. Consumers took advantage of steep discounts to update their electronics, apparel and small home appliances, according to Adobe, which tracks online spending across all US retailers during…
Read MoreYen retreats from 6-week high against greenback
THE Japanese yen grazed six-week highs before retreating against the US dollar on Thursday (Jul 18), keeping traders alert to any signs of official buying. The euro held steady, as did eurozone government bond yields, after the European Central Bank (ECB) left interest rates unchanged and did not signal a cut in September was imminent.…
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