Posts by Stephanie Irvin
SIA and Scoot among Asia airlines rerouting flights amid flare-up in India-Pakistan hostilities
[SINGAPORE] Singapore Airlines (SIA) and its budget arm Scoot have stopped flying over Pakistani airspace after fighting broke out between Pakistan and neighbouring India. The Singapore carriers have been using alternative flight paths since Tuesday (May 6) to avoid the war zone. In response to queries from The Business Times, an SIA spokesperson said the…
Read MoreUOB not ‘overly alarmed’ by US tariff situation, impact unlikely to match Covid-era: Wee Ee Cheong
[SINGAPORE] A strong balance sheet and capital base will help UOB navigate uncertainties arising from US tariffs, said deputy chairman and chief executive officer Wee Ee Cheong. Speaking at the bank’s first-quarter earnings call on Wednesday (May 7), he noted that trade forms only about 10 per cent of UOB’s total loans portfolio, limiting the…
Read MoreUOB not ‘overly alarmed’ by US tariffs as its trade finance lending is mostly intra-regional: Wee Ee Cheong
[SINGAPORE] A strong balance sheet and capital base will help UOB navigate the uncertainties arising from US tariffs, said deputy chairman and chief executive officer Wee Ee Cheong. Speaking at the bank’s first-quarter earnings call on Wednesday (May 7), he noted that trade forms only about 10 per cent of the bank’s total loans portfolio,…
Read MoreAustralian dollar hits new five-month high on US-China trade talks
[SYDNEY] The Australian dollar hit a new five-month peak on Wednesday, buoyed by progress in US-China trade talks scheduled for later this week, while the New Zealand dollar found little support following a mixed picture on jobs. The Aussie fetched US$0.6514 for the first time since early December, although it was still battling sellers at…
Read MoreChina central bank governor says will cut banks’ reserve requirement ratio
Published Wed, May 7, 2025 · 09:42 AM — Updated Wed, May 7, 2025 · 09:52 AM [BEIJING] China’s central bank governor said on Wednesday the bank would cut the amount of cash that banks must hold as reserves by 50 basis points, the first reduction in 2025 as policymakers seek to boost liquidity and…
Read MoreWeightWatchers files bankruptcy as GLP-1 drugs reshape market
Prepackaged bankruptcies generally allow companies to exit Chapter 11 quickly and without disruption to their business or unsecured creditors Published Wed, May 7, 2025 · 09:05 AM [NEW YORK] WeightWatchers, known for its diet programmes once endorsed by celebrities including Oprah Winfrey, has filed for bankruptcy after struggling to compete with weight-loss drugs such as…
Read MoreStocks to watch: UOB, FLCT, Aims Apac Reit, Acrophyte Hospitality Trust, Sats
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (May 7). UOB: The bank’s net profit for its first quarter was flat amid broad-based growth, it said on Wednesday. Net profit for the three months ended Mar 31, 2025, stood at S$1.49 billion, almost unchanged from S$1.487 billion…
Read MoreTrump hosts LVMH boss as tariffs threaten luxury goods
Published Wed, May 7, 2025 · 07:58 AM [WASHINGTON] Donald Trump hosted the head of luxury giant LVMH, Bernard Arnault, at the White House on Tuesday as the group confronts a dent in sales from the US president’s tariffs. Europe’s richest man, whose firm produces Louis Vuitton bags and Dom Perignon champagne, made a surprise…
Read MoreDelta must face passenger lawsuit over massive computer outage
DELTA Air Lines must face a proposed class action by passengers who said it refused to offer full refunds after delaying or cancelling their flights following a massive computer outage last July, a federal judge ruled on Tuesday. US District Judge Mark Cohen in Atlanta said five of the nine plaintiffs may pursue breach of…
Read MoreUS: Wall St opens lower on fresh tariff threats
Published Tue, May 6, 2025 · 09:48 PM [NEW YORK] Wall Street’s main indexes opened lower on Tuesday, after US President Donald Trump’s latest plans for pharma tariffs further dampened investor sentiment amid subdued corporate earnings. The Dow Jones Industrial Average fell 218.6 points, or 0.53 per cent, at the open to 41,000.19. The S&P…
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