Posts by Stephanie Irvin
Big Four accounting firm PwC to slash about 1,500 jobs in the US
Published Tue, May 6, 2025 · 09:05 AM [BENGALURU] Big Four accounting firm PwC is laying off about 1,500 employees in the United States, a company spokesperson said on Monday (May 5). The workforce reduction equates to approximately 2 per cent of our US firm, the spokesperson said. PwC employs more than 75,000 people in…
Read MoreFrasers Hospitality Trust H1 DPS falls 6% to S$0.010257 on higher finance costs
[SINGAPORE] Frasers Hospitality Trust on Tuesday (May 6) posted a 6 per cent drop in distribution per stapled security (DPS) to S$0.010257 for its first half year ended Mar 31, from S$0.01091 in the corresponding year-ago period. The decline was attributed to lower net property income (NPI) and higher finance costs arising from the refinancing…
Read MoreJPMorgan says AI helped boost sales, add clients in market turmoil
[NEW YORK] JPMorgan Chase’s artificial intelligence (AI) tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April’s market rout, the bank’s CEO of asset and wealth management said. The largest US lender has been ramping up its use of AI, along with its peers. Goldman…
Read MoreHong Kong ramps up FX intervention to defend currency peg
[MELBOURNE] Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (S$10.1 billion) of the city’s currency, according to an alert sent on its Bloomberg page on Tuesday (May 6) in Asia, after it tested the…
Read MoreFord pulls guidance, warns it will take US$1.5 billion hit from Trump’s tariffs
[DETROIT] Ford Motor suspended its annual guidance on Monday because of uncertainty around US President Donald Trump’s tariffs, saying the levies would cost the company about US$1.5 billion in adjusted earnings before interest and taxes. “It’s still too early to fully understand our competitors’ responses to these tariffs,” Ford CEO Jim Farley told analysts on…
Read MoreSaudi Arabia reports first-quarter deficit of US$15.65 billion
Declining oil prices and voluntary production cuts have weighed on Saudi revenue in recent years Published Mon, May 5, 2025 · 10:01 PM [RIYADH] Saudi Arabia’s deficit widened significantly to US$15.65 billion in the first quarter of 2025 from US$3.30 billion a year before as oil revenues fell 18 per cent to 149.810 billion riyals…
Read MoreTyson Foods beats quarterly profit estimates on strong chicken demand
The company witnessed sustained demand for its frozen meat and ready-to-eat food as consumers increasingly preferred eating at home Published Mon, May 5, 2025 · 09:02 PM [NEW YORK] Tyson Foods beat Wall Street expectations for second-quarter profit on Monday (May 5), driven by increased demand for its chicken products and lower costs. The company…
Read MoreProcurri Corp moves towards delisting by appointing IFA for privatisation offer
[SINGAPORE] Procurri Corp has appointed Evolve Capital Advisory as the independent financial adviser (IFA) for the acquisition offer from parent company Exeo Global Asset Holdings amid a potential delisting from the Singapore Exchange (SGX). The mainboard-listed IT solutions provider said in a regulatory filing on Monday (May 5) that the IFA will advise its independent…
Read MoreSIC proposes changes to takeovers and mergers code to protect competitive process, improve disclosures
[SINGAPORE] The Securities Industry Council (SIC) on Monday (May 5) issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers, with the aim to enhance regulation around such deals. The proposed changes intend to protect the competitive process of takeover and merger transactions, improve the timeliness of schemes of arrangement, and enhance…
Read MoreSingapore stocks end higher on Monday; STI up 0.2%
Top gainer is DFI Retail Group at US$2.71, while the biggest decliner is Yangzijiang Shipbuilding at S$2.11 [SINGAPORE] Stocks in Singapore ended higher on Monday (May 5), tracking Friday’s gains on Wall Street. The benchmark Straits Times Index (STI) rose 0.2 per cent or 7.93 points to 3,853.07. Across the broader market, gainers outnumbered losers…
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