Posts by Mark Darwin
Oil prices up 2% to two-month high on summer demand hopes, supply worries
OIL prices gained about 2 per cent to a two-month high on Monday (Jul 1) on hopes of rising demand during the Northern Hemisphere’s summer driving season and worries that conflict in the Middle East could spread and reduce global oil supplies. Brent futures rose US$1.60, or 1.9 per cent, to settle at US$86.60 per…
Read MoreSingapore’s COE system is both boon and bane for used EVs
A BRUTAL price war among electric vehicle (EV) makers has dragged down the resale value of such used cars in China, the United States and Europe. But what about Singapore? In Singapore, used EVs do seem to take longer to sell than conventional equivalents. But it is less clear whether they have a lower resale…
Read MoreNvidia set to face French antitrust charges: sources
NVIDIA is set to be charged by the French antitrust regulator for allegedly anti-competitive practices, people with direct knowledge of the matter said, making it the first enforcer to act against the company. The French so-called statement of objections or charge sheet would follow dawn raids in the graphics cards sector in September last year,…
Read MoreSamsung Electronics union in South Korea declares general strike
Union membership increased rapidly after Samsung in 2020 pledged to end to its practice of discouraging the growth of organised labour A workers’ union at Samsung Electronics in South Korea said on Monday (Jul 1) it would launch a general strike until its demands for better pay and time off were met, warning of more…
Read MoreAmazon sidesteps carbon offset standard Bezos helped fund
AMAZON has become the first company to sidestep a global standard for verifying carbon offsets, which was developed by a non-profit funded mainly by founder of the US technology conglomerate and executive chair, Jeff Bezos. The company is supporting the development of a new standard that could allow the online retailer and cloud computing provider…
Read MoreEuro rises as French far right faces narrow road to majority
THE euro climbed on Monday (Jul 1) after a convincing and historic win by the French far right in the first round of parliamentary elections fell slightly short of some expectations, leaving the final result dependent on party deals before a second round next weekend. Meanwhile, the yen hovered around a 38-year low after data…
Read MoreCivmec bags multiple contracts worth A$174 million
CONSTRUCTION and engineering group Civmec Limited on Monday (Jul 1) said it has bagged multiple projects with a combined contract value of approximately A$174 million (S$157.5 million). These include a “significant” contract for the supply, manufacture and offsite assembly of a new shiploader for the Dalrymple Bay Terminal in Queensland, Australia, said Civmec, which is…
Read MoreAir France sees revenue hit as fliers avoid Paris Olympics
After the Olympics, travel to and from France will likely go back to normal, and the carrier said it’s seeing “encouraging demand” for the end of August and for September Air France-KLM is experiencing pressure on projected unit revenue this summer season at French units because passengers are avoiding Paris in the summer months to…
Read MoreConfidence returns to US IPOs with best start to year since 2021
For the first time in three years, Wall Street’s equity capital markets bankers appear to have the wind at their backs. Initial public offerings have gotten off to their best start to a year since the heady days of 2021, with more than US$20 billion raised in the first six months, according to data compiled…
Read MoreMorgan Stanley ending bonus caps for city of London staff
The Wall Street bank said that it continues “to pay competitively and reward strong performance” MORGAN Stanley is scrapping a cap on bonuses for bankers in the City of London, underlining the shift among US and UK lenders towards paychecks that look more like the bonus-heavy packages of their New York counterparts. The Wall Street…
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