Posts by Mark Darwin
HP reports sales that top estimates on first PC boost since 2022
HP REPORTED quarterly revenue that topped analysts’ estimates, including the first increase in personal computer (PC) sales in two years, an optimistic signal for a long-awaited rebound in the market. Revenue from HP’s computer unit increased 3 per cent to US$8.4 billion in the fiscal second quarter, compared with the US$8.3 billion expected by analysts.…
Read MoreEurope: Shares suffer worst day in over 6 weeks as rate jitters persist
EUROPEAN shares declined on Wednesday as worries that global interest rates will stay elevated for longer pushed bond yields higher, with fresh evidence of persistently high inflation in the region’s biggest economy only exacerbating such concerns. The pan-European Stoxx 600 index closed 1.1 per cent lower, touching a three-week low, clocking its biggest single-day fall since April…
Read MoreUS: Stocks slide amid worries over interest rates
WALL Street stocks fell on Wednesday as rising Treasury bond yields prompted a wave of selling after recent records. “Now that the (first-quarter earnings) period is essentially over, inflation and interest rates are front of mind,” said Sam Stovall, chief investment strategist at CFRA Research, noting that the Dow has pulled back after topping 40,000 points earlier…
Read MoreFossil fuel players turn to private markets where transition gets wider definition
PRIVATE markets investors in Asia are stepping in where banks will not tread, offering financing and doing deals in the brown spaces of fossil fuels and extractive industries. Willingness to put money on the table is driven partly by family offices that have greater familiarity with these traditional industries and greater tolerance for assets that…
Read MoreUS tells owners to stop driving older Nissan vehicles over airbag concerns
Owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata airbags should immediately stop driving them due to a safety hazard, the US National Highway Traffic Safety Administration (NHTSA) said on Wednesday (May 29). The agency made its announcement after the Japanese automaker issued a warning on Wednesday telling…
Read MoreSats H2 profit surges more than 10 times to S$64.1 million on aviation recovery, WFS acquisition
IN-FLIGHT caterer and ground handler Sats reported earnings of S$64.1 million for the six months ended Mar 31, a jump of more than ten times from the S$6 million booked in the previous corresponding period. This comes amid a robust post-pandemic recovery by the aviation sector, and the acquisition of global air-cargo handling company World…
Read MoreAbercrombie raises outlook, extending ‘90s fashion comeback
Abercrombie & Fitch raised its full-year outlook after it blew past first-quarter sales estimates and extended its bounce back from the teen fashion graveyard. The retailer now expects net growth to rise around 10 per cent for the year, up from a previous estimate of 4 per cent to 6 per cent, the New Albany,…
Read MoreGoldman racks up US$21 billion for its largest private credit pool
Goldman Sachs Group has put together US$21 billion for private credit wagers, its biggest war chest yet for Wall Street’s buzziest asset class. The firm just closed the latest iteration of its direct-lending fund, drumming up firepower that includes fresh capital, borrowed funds and co-investments. That along with separately managed accounts will be put to…
Read MoreDemand for latest Singapore Savings Bonds hits year-to-date high
DEMAND for the latest tranche of the Singapore Savings Bonds (SSBs) has reached a year-to-date high, with its 10-year average return having hit a new peak for the year thus far, the allotment results released on Wednesday (May 29) indicated. The June issuance pulled in S$1.6 billion in applications, exceeding the S$1 billion on offer.…
Read MoreYangzijiang steams ahead, but STI dips 6.89 points in line with Asian market slide
THE Straits Times Index (STI) ended Wednesday (May 29) at 3,323.2, down 6.89 points or 0.2 per cent, as most markets across Asia witnessed a decline. Advancers were outnumbered by decliners, 255 to 311, while securities value traded was a relatively high S$1.3 billion. Overnight, United States 10-year Treasury yields had risen as high as 4.556…
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