Posts by Stephanie Irvin
UBS Q1 profit tops expectations on tariff-driven volatility in markets
Published Wed, Apr 30, 2025 · 01:12 PM SWISS bank UBS on Wednesday posted better than expected first-quarter net profit, helped by stronger earnings in trading driven by market turbulence in the wake of US tariff turmoil, which it said could delay corporate deals. Switzerland’s biggest bank reported net profit attributable to shareholders of US$1.7…
Read MoreChinese solar losses deepen even before worst of trump tariffs
[NEW YORK] Chinese solar manufacturers continue to plunge deeper into the red, and the outlook is getting gloomier as sky-high tariffs on exports threaten to compound domestic oversupply. Five of the biggest names in the industry – JA Solar Technology, Jinko Solar, Longi Green Energy Technology, Tongwei and Trina Solar – published first-quarter earnings overnight,…
Read MorePop Mart holder sells US$101 million stake after shares hit record
The toy company is the top gainer in the MSCI China Index over the last 12 months, with its shares jumping more than 470 per cent Published Wed, Apr 30, 2025 · 11:15 AM [HONG KONG] An investor in Pop Mart International Group, whose fans include K-pop band Blackpink’s Lisa, raised US$101 million in a…
Read MoreMeta launches standalone AI app to compete with ChatGPT
[SAN FRANCISCO] Meta Platforms released a new standalone artificial intelligence (AI) app on Tuesday (Apr 29) in a bid to compete with other popular chatbots such as OpenAI’s ChatGPT. The AI assistant, called Meta AI, is built on the back of the company’s large language model technology, called Llama, and had been available across the…
Read MorePrudential’s quarterly new business profit rises on strong Hong Kong, China growth
Published Wed, Apr 30, 2025 · 09:05 AM PRUDENTIAL on Wednesday reported a 12 per cent rise in new business profit for the first quarter, as the Asia-focused insurer benefitted from strong performance in its Hong Kong and China segments. The London and Hong Kong dual-listed company posted new business profit, on a traditional embedded…
Read MoreElectronic Arts lays off hundreds, cancels ‘Titanfall’ game
Published Wed, Apr 30, 2025 · 07:15 AM [NEW YORK] Electronic Arts (EA) is laying off hundreds of workers and cancelling a Titanfall game that was in development at its Respawn Entertainment subsidiary. Between 300 and 400 positions were eliminated, including around 100 at Respawn, according to a source familiar with the cuts. “As part…
Read MoreASM’s orders beat estimates on strong demand from China
[NETHERLANDS] ASM International’s first-quarter orders beat estimates, fuelled by high demand for chipmaking equipment in artificial intelligence (AI) linked segments and solid sales in China. Orders rose 14 per cent from a year earlier at constant currency to 834 million euros (S$1.2 billion) in the three months to March, ASM said on Tuesday (Apr 29).…
Read MoreAre the “Magnificent Seven” Still Magnificent?
Have you been following the recent drop in tech stocks? If so, you’ve likely noticed that even the strongest names in the market — the so-called Magnificent Seven — have taken a serious hit. What’s going on? And more importantly, what do these new Trump tariffs mean for the future of big tech? What Just…
Read MoreUS: Stocks rally as Trump tempers auto tariffs
Published Wed, Apr 30, 2025 · 06:12 AM [NEW YORK] Wall Street stocks rose on Tuesday as markets digested mixed earnings while applauding a move by President Donald Trump to ease tariffs on automakers. Trump’s pivot includes limitations on the impact of multiple tariffs on carmakers and a measure to allow carmakers to offset a portion of…
Read MoreIndonesia’s state banks eye bigger share of growing wealth market in Singapore
[JAKARTA] Bank Negara Indonesia (BNI) and Bank Mandiri, Indonesia’s state-owned banks, are pulling out all the stops to make their mark in Singapore’s competitive wealth management sector. This comes as an increasing number of affluent Indonesian individuals and corporate clients funnel their assets into the city-state, tapping into a market estimated to be worth around…
Read More