Posts by Stephanie Irvin
Wall Street banks said to steer clear of Chery’s US$1.5 billion Hong Kong IPO
[HONG KONG] One of this year’s biggest listings is coming together in Hong Kong without the involvement of Wall Street banks. Chery Automobile’s planned Hong Kong initial public offering (IPO), which sources familiar say could raise about US$1.5 billion, is being led by an all-Chinese bank roster after others decided not to participate. JPMorgan Chase…
Read MoreAccounts Payable: Pay Now or Pay Later?
Managing accounts payable (AP) is a vital part of running a business. It involves tracking what a company owes its suppliers for goods and services received on credit. Understanding how to handle AP effectively can help businesses maintain a healthy cash flow, build strong vendor relationships, and avoid financial pitfalls. In this article, we’ll explore…
Read MoreUS lawmaker targets Nvidia chip smuggling to China with new bill
[SAN FRANCISCO] A US lawmaker plans to introduce legislation in the coming weeks to verify the location of artificial intelligence (AI) chips like those made by Nvidia after they are sold. The effort to keep tabs on the chips, which drew bipartisan support from US lawmakers, aims to address reports of widespread smuggling of Nvidia’s…
Read MoreAsia: Dollar recovers some losses, stocks gain as traders eye tariff deals
[HONG KONG] The dollar rose in Asia on Tuesday fuelled by hopes for trade deals to avert Donald Trump’s sweeping tariffs, while equities mostly rose as investors await the Federal Reserve’s latest policy decision. Oil also staged a comeback after tanking on news of an output hike by key producers that came despite growing concerns…
Read MorePalantir sales forecast falls short of Wall Street’s hopes
[SAN FRANCISCO] Palantir Technologies dropped more than 8 per cent in late trading on Monday (May 5) after its results failed to live up to investors’ loftiest expectations for a company whose stock has led the S&P 500 in gains this year. The company described the rising demand for artificial intelligence (AI) software as a…
Read MoreBig 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…
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