Posts by Stephanie Irvin
US Supreme Court says Federal Reserve is unique, easing worries over Trump’s ability to fire Powell
A US Supreme Court ruling on Thursday in a legal battle over President Donald Trump’s firing of two federal labour board members contained a line that eased, for now, worries that the cases could open the door for Trump to fire Federal Reserve Chair Jerome Powell at will. The court’s order allows Trump to keep…
Read MoreUBS raises S&P 500 year-end target, eyes more gains in 2026
Published Fri, May 23, 2025 · 07:14 AM UBS Global Wealth Management on Thursday raised its year-end target for the S&P 500 to 6,000 from 5,800 and initiated a June 2026 target of 6,400. The research group also raised its 2025 expectation for S&P 500 earnings per share to US$260 from US$250 and forecast 2026…
Read MoreOil prices settle down on potential further increase in Opec+ output
[HOUSTON] Oil prices settled lower on Thursday as investors weighed a report that Opec+ is discussing a production increase for July, stoking concerns that global supply could outpace demand growth. Brent futures settled down 47 cents, or 0.72 per cent, to US$64.44 a barrel. US West Texas Intermediate crude settled down 37 cents, or 0.6 per cent,…
Read MoreUS: Wall St opens mixed after Trump’s tax Bill narrowly clears House test
Published Thu, May 22, 2025 · 09:47 PM [NEW YORK] Wall Street’s main indexes opened mixed on Thursday (May 22) after the US House of Representatives passed President Donald Trump’s tax Bill, which is expected to burden the country with trillions in debt, by a razor-thin margin. The Dow Jones Industrial Average fell 96.8 points,…
Read MoreRalph Lauren beats quarterly revenue estimates on resilient demand
It posted quarterly revenue of US$1.70 billion, compared with estimates of US$1.65 billion Published Thu, May 22, 2025 · 09:02 PM [WASHINGTON] Ralph Lauren surpassed quarterly revenue estimates on Thursday (May 22), helped by resilient demand for its classic Polo shirts and spring dresses, sending its shares up 3 per cent in premarket trading. Its…
Read MoreXiaomi billionaire touts SUV, Chinese chip in tech showcase
[BEIJING] Xiaomi’s billionaire founder outlined plans for its first SUV and top-end gadgets with self-developed mobile chips, showcasing ambitions to expand its technology portfolio and move past a much-publicised accident that cast doubt on its expertise. Lei Jun, who shot to fame with bold plans to unseat Apple in China, gave online viewers a sneak…
Read MoreBYD beats Tesla in Europe for first time with 169% sales surge
Published Thu, May 22, 2025 · 07:01 PM [FRANKFURT] BYD sold more electric vehicles in Europe than Tesla for the first time, overtaking the American brand that’s long led the continent’s EV segment. China’s leading automaker registered 7,231 new battery-electric vehicles in April, according to market researcher Jato Dynamics. That was up 169 per cent…
Read MoreSingapore shares slide in tandem with regional bourses and Wall Street
Decliners beat gainers 288 to 178 across the broader Singapore market, with 1.1 billion of securities valued at S$1.4 billion changing hands [SINGAPORE] Asian bourses including Singapore’s were largely in the red on Thursday (May 22), after overnight Wall Street’s sell-off as the United States fiscal uncertainty soured market sentiment. Singapore’s Straits Times Index (STI)…
Read MoreCiti launches AI tools for Hong Kong employees
Published Thu, May 22, 2025 · 01:34 PM CITIGROUP has launched Citi AI, a suite of artificial intelligence (AI) tools for its employees in Hong Kong, the bank said on Thursday. The tools support internal operations including information retrieval from Citi’s policy library, document summarisation and creation of electronic communications drafts among others, it said…
Read MoreFormer central bank deputy governor to head Bank of China: sources
Published Thu, May 22, 2025 · 12:31 PM [BEIJING] China will appoint financial veteran Liu Guiping as chairman of Bank of China (BOC), the nation’s fourth-largest state-owned bank, two sources with knowledge of the matter said. Liu, who currently serves as executive vice-mayor of Tianjin city, will replace current chairman Ge Haijiao, who will move…
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