Posts by Mark Darwin
US: S&P 500, Nasdaq dip on the eve of US payrolls data
THE S&P 500 and Nasdaq composite finished lower on Thursday (Jun 6) ahead of a key labour market report, retreating from record highs reached in the previous session. The Dow was slightly higher. Benchmark S&P 500 and Nasdaq rose early and reached fresh intraday record highs, but then they retreated as technology stocks dipped. Nvidia…
Read MoreChina’s CNOOC reports major gas breakthrough in South China Sea
CNOOC has achieved a major exploration breakthrough in an ultra-shallow gas play in ultra-deep water South China Sea, the state-owned oil and gas firm said on Thursday (Jun 6). Its Lingshui 36-1 gas field, located in the western South China Sea, has been tested to produce over 10 million cubic metres per day of open…
Read MoreChina’s Space Pioneer raises 1.5 billion yuan to fund development of reusable rockets
BEIJING-BASED rocket developer Space Pioneer said on Thursday (Jun 6) that it had completed more than 1.5 billion yuan (S$280 million) round of fundraising that will go towards financing the development of its reusable rockets. Space Pioneer, also known as Beijing Tianbing Technology, is among a small group of rapidly growing private-sector rocket developers, spurred…
Read MoreUK firms’ wage growth expectations fall sharply, BOE survey shows
British businesses’ expectations for wage growth over the coming year fell sharply last month, according to a Bank of England (BOE) survey, which may ease policymakers’ worries that it will be hard to keep inflation on target. Expectations for wage growth over the coming year in the BOE’s Decision Maker Panel survey dropped to 4.1…
Read MorePalm oil companies with high ESG transparency are poorly valued: NUS study
EXCELLING in terms of environmental, social and corporate governance (ESG) reporting does not necessarily translate to higher valuations for companies within the palm oil sector. A recent study conducted by the National University of Singapore (NUS) Business School’s Centre for Governance and Sustainability (CGS) found palm oil companies that performed well in terms of ESG were…
Read MoreJasper Investments volume, price surge on S$9 million from investors including Koh Boon Hwee
SHARES of watch-listed Jasper Investments quadrupled in value after the marine player secured S$9 million in capital from strategic investors, including Koh Boon Hwee, a board director of Singapore sovereign wealth fund GIC. As at 3.14 pm on Thursday (Jun 6), shares of Jasper : FQ7 0%were trading up 300 per cent, or S$0.003, to…
Read MoreBillionaire Richard Li’s FWD Group revives Hong Kong IPO plan: sources
BILLIONAIRE Richard Li has revived plans to list pan-Asian insurer FWD Group in Hong Kong, said three sources with direct knowledge of the matter, after regulatory delay and market volatility scuppered previous attempts to take it public. Hong Kong-headquartered FWD could target a valuation of up to US$9 billion in the initial public offering (IPO)…
Read MoreGold prices drift higher ahead of US payrolls data
GOLD prices rose on Thursday (Jun 6), building on the previous session’s gains as investors awaited US non-farm payrolls data that could determine whether interest rates will be cut earlier than expected this year. Spot gold was up 0.4 per cent at US$2,365.40 per ounce, as at 0121 GMT, after a more than 1 per…
Read MoreSingapore shares rise at Thursday’s open; STI up 0.3%
SINGAPORE equities started Thursday (Jun 6) morning on a strong footing, tracking global gains overnight. As at 9.01 am, the Straits Times Index (STI) opened 0.3 per cent or 11.3 points higher at 3,341.31. Across the broader market, gainers outnumbered losers 73 to 21 after 45.8 million securities worth S$74 million changed hands. One…
Read MoreChanel’s record dividend brings owners’ windfall to US$12 billion
THE billionaire family behind Chanel will have pocketed US$12.4 billion in payouts from the luxury brand’s earnings over the past three years, contributing to a massive increase in their personal wealth and underpinning efforts to diversify away from high fashion. The Wertheimers’ Cayman Islands-based holding company for Chanel is to receive a US$5.7 billion dividend…
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