Posts by Stephanie Irvin
Business Structure Showdown: LLC vs. Going Solo
When starting a business, one of the first big decisions you’ll face is choosing the right business entity. Should you go solo as a sole proprietor or form a Limited Liability Company (LLC)? Each option has its own set of pros and cons that can impact your liability, taxes, and overall growth. In this article,…
Read MoreVolvo Cars to cut costs by 18 billion Swedish crowns as earnings drop
Published Tue, Apr 29, 2025 · 01:46 PM [STOCKHOLM] Sweden-based Volvo Cars launched cost cuts of 18 billion Swedish crowns (S$2.4 billion) on Tuesday (Apr 29) as its operating profit fell heavily amid difficult market conditions for the automotive industry. Operating profit at the company, which is majority-owned by China’s Geely, was 1.9 billion Swedish…
Read MoreHSBC Q1 profit drops 25%; launches US$3 billion share buyback
Published Tue, Apr 29, 2025 · 12:35 PM [HONG KONG] HSBC launched a US$3 billion share buyback after reporting a 25 per cent fall in first-quarter profit on Tuesday due to one time charges related to business disposals in Canada and Argentina. The London-based bank reported profit before tax of US$9.5 billion in the first…
Read MoreHSBC sounds Trump tariff alarm, taking shine off Q1 profit and buyback
HSBC warned that loan demand and credit quality could suffer from the broader fallout of US President Donald Trump’s global trade war, signalling tougher times for trade-focused banks even as the lender’s first-quarter profit beat forecasts. Europe’s largest bank reaffirmed targets and unveiled a fresh $3 billion share buyback on Tuesday (Apr 29) as it…
Read MoreThese Singapore names are potential winners from election Budget, tariff volatility: Maybank
[SINGAPORE] The Republic’s domestic-oriented stocks could emerge as spillover beneficiaries amid tariff volatility in spite of Singapore’s high trade dependency, said Maybank. That includes sectors such as property and consumer as potential winners, it said. In a Friday (Apr 25) research report, Maybank analyst Thilan Wickramasinghe said that the city-state could offer a “relative safe…
Read MoreGold falls on easing trade war concerns; US data awaited
Published Tue, Apr 29, 2025 · 10:47 AM [BENGALURU] Gold prices fell on Tuesday (Apr 29) as easing trade tensions between the US and its trading partners dented the metal’s safe-haven appeal, while investors awaited US economic data to assess the Federal Reserve’s policy path. Spot gold fell 0.3 per cent to US$3,332.99 an ounce…
Read MoreChina’s CICC eyes Middle East, South-east Asia in global push
[NEW YORK] China International Capital Corporation (CICC), one of the nation’s largest brokerages, is seeking to tap the growing demand for cross-border financial services in the Persian Gulf and South-east Asia as the firm pushes its global expansion. Beijing-based CICC is gearing up to open a new branch in Dubai to target sovereign wealth funds…
Read MoreUOI Q1 profit before tax dips 3% to S$7.8 million on lower non-underwriting income
The fall is attributed to lower non-underwriting income, which dropped 12% to S$3.7 million [SINGAPORE] United Overseas Insurance (UOI), the general insurance arm of UOB, posted a profit before tax of S$7.8 million for the first quarter of FY2025, down 3 per cent from the S$8 million logged in the previous corresponding period. The fall…
Read MoreIBM to invest US$150 billion in US over next five years to aid quantum push
[BENGALURU] IBM will invest US$150 billion in the US, including on facilities for quantum computer production, over the next five years, the latest American technology company to back the Trump administration’s push for local manufacturing. The company’s announcement on Monday (Apr 28) follows similar pledges by tech giants such as Nvidia and Apple, both of…
Read MoreThree Abu Dhabi giants plan stablecoin backed by UAE’s currency
Growing popular worldwide, stablecoins are typically pegged to traditional currencies, which makes them less vulnerable to price volatility like other digital tokens, such as Bitcoin Published Tue, Apr 29, 2025 · 06:38 AM [CAIRO] Three major Abu Dhabi entities, including a sovereign wealth fund, plan to launch a stablecoin fully regulated by the central bank…
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