Posts by Mark Darwin
Hyundai under pressure from Tata, Mahindra as US$3.5 billion India IPO looms
TATA Motors and Mahindra & Mahindra are closing in on Hyundai Motor’s No 2 position in India, putting pressure on the South Korean automaker just as it prepares for a record US$3.5 billion listing of its local unit. While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra – famed for its…
Read MoreCboe files for SEC approval to list Solana ETFs, starts clock for required decision
EXCHANGE operator Cboe Global Markets filed a request with the US Securities and Exchange Commission (SEC) on Monday (Jul 8) seeking to list exchange-traded funds (ETFs) tied to cryptocurrency Solana, requiring the agency to make a decision by March. Under SEC rules, the agency has 240 calendar days to decide whether to approve or deny…
Read MoreDigitalX to list Bitcoin ETF on Australia’s main stock market
DIGITALX will launch a Bitcoin exchange-traded fund (ETF) on Australia’s main stock market after becoming the second asset manager to win approval for such a product from the bourse operated by ASX. The DigitalX Bitcoin ETF will be listed on Jul 12 under the ticker BTXX, according to a statement from the company on Tuesday…
Read MoreGold edges higher as focus turns to Fed Powell’s testimony
GOLD prices ticked up on Tuesday (Jul 9), with investors awaiting Federal Reserve chair Jerome Powell’s testimony and June inflation data to assess the next policy move by the US central bank. Spot gold was up 0.2 per cent at US$2,364.03 per ounce, as at 0112 GMT, after falling more than 1 per cent on…
Read MoreSingapore shares open higher on Tuesday; STI up 0.5%
SINGAPORE equities began trading stronger on Tuesday (Jul 9) morning to track overnight gains on Wall Street. As at 9.01 am, the Straits Times Index (STI) gained 18.14 points or 0.5 per cent to 3,422.61. Across the broader market, gainers outnumbered losers 67 to 34 after 45.5 million securities worth S$63.8 million changed hands. Thai…
Read MoreQualcomm, Microsoft lean on AI hype to spur PC market revival
TECH companies from Microsoft to Qualcomm are embarking on a marketing blitz for a new type of computer they are dubbing “AI PCs”, promising artificial intelligence (AI) features embedded in their laptops and desktops. The new laptops differ from standard devices with the inclusion of an additional processor that’s tailored to speed up AI features…
Read MoreBoeing in talks with US Defence Department on impact of guilty plea, source says
BOEING is in talks with the US Defence Department over how the planemaker’s planned guilty plea could affect its extensive government contracts, a person briefed on the matter said. On Sunday, the Justice Department said in a court filing that Boeing had agreed to plead guilty to a criminal fraud conspiracy charge to resolve an investigation linked to…
Read MoreUnited Airlines flight loses wheel on takeoff, lands safely with no injuries
A UNITED Airlines jet lost a landing-gear wheel on Monday when it took off from Los Angeles but landed safely in Denver, its planned destination, with no injuries, the airline said. The wheel from United Flight 1001, a Boeing 757-200, was recovered in Los Angeles. “We are investigating what caused this event,” United said. The aircraft involved in Monday’s incident…
Read MoreEurope: Stoxx 600 flat as markets assess France’s hung parliament prospects
EUROPEAN shares were muted on Monday as investors mulled chances of a hung parliament in France after the left alliance’s unexpected advance in the election, while weak energy shares were a drag. The pan-European Stoxx 600 index ended flat at 516.43 points. The oil and gas sector was the biggest drag on the benchmark index, down 1.1…
Read MoreUS: Stocks rise ahead of inflation data
Wall Street saw an optimistic start to the week Monday ahead of US inflation data and major earnings reports due this week, with all three major indices logging gains. The Dow Jones Industrial Average advanced 0.6 per cent to 39,597.30, while the S&P 500 Index climbed 0.2 per cent to 5,578.44. The Nasdaq Composite Index…
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