Posts by Mark Darwin
Kraken 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.…
Read MoreAbbott raises annual profit forecast as strong medical device sales power quarterly beat
The company now expects a profit of US$4.61 to US$4.71 per share for the full year ABBOTT Laboratories raised its annual profit forecast and beat Wall Street estimates for second-quarter earnings on Thursday (Jul 18), buoyed by strong sales of its cardiac and diabetes care devices. Much like the rest of the industry, the company’s…
Read MoreSats to partner Japan’s Mitsui in expanding its food solutions business
SATS will partner Japanese trading and investment company Mitsui & Co to develop and grow their respective food and retail solutions businesses. A new wholly owned subsidiary has been established as a holding vehicle through which the two will jointly pursue potential food solutions-related investments, the airport-services provider said in a bourse filing on Thursday…
Read MoreProposed Allianz-Income deal will push German financial giant to top five insurers in Singapore
THE proposed offer from Allianz to acquire a majority stake in Income Insurance is likely to cement its position as the top general insurer in Singapore, a high-growth insurance market in the Asia-Pacific (Apac) region, said industry observers. Some also noted that the local insurance market may see some consolidation, given the strong interest…
Read MoreLVMH names third Tag Heuer CEO in a year in latest shakeup
LVMH named its third chief executive officer of watch brand Tag Heuer in just a year in the latest management shakeup for the division that’s now led by the son of the luxury empire’s founder, Bernard Arnault. Tag Heuer, the motor sports racing-inspired brand, said Bulgari’s head of watches Antoine Pin will take over in…
Read MoreHong Kong fund’s Fancl stake portends challenge to Kirin bid
INVESTORS are betting that Kirin Holdings will need to raise its offer price for Fancl to complete a proposed takeover, as concerns among shareholders that it’s undervaluing the Japanese skincare brand spill into the open. MY.Alpha Management HK Advisors disclosed a surprise 5.1 per cent stake in Fancl this week, a move seen as…
Read More👷 Constructing your first investment portfolio (examples included)
🧢 Recap Before we jump into examples, here’s a recap of what investment portfolios are all about: A portfolio is a collection of valuable assets you own for investing These assets can include stocks, bonds, investment funds, property or even rare Pokémon cards Constructing a portfolio is about deciding how you want to allocate your…
Read MoreKeppel inks MOU with Sojitz to pursue clean energy business ventures in Asia-Pacific
GLOBAL asset manager Keppel, through its infrastructure division, on Thursday (Jul 18) signed a memorandum of understanding (MOU) with Tokyo-based investment and general trading company Sojitz, to pursue decarbonisation and clean energy business opportunities in the Asia-Pacific. Both companies will identify and develop projects in bioenergy and resource recovery, as well as invest in and…
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