Posts by Stephanie Irvin
Bank of Japan keeps rates steady, cuts growth forecasts
[TOKYO] The Bank of Japan (BOJ) kept interest rates steady and cut its growth forecasts on Thursday (May 1), as uncertainty surrounding US tariffs clouds the outlook for the world’s fourth-largest economy. But the central bank projected inflation would stay roughly on course to hit its 2 per cent target in coming years, a sign…
Read MoreTesla board opened search for a CEO to succeed Elon Musk: report
Published Thu, May 1, 2025 · 11:15 AM [BENGALURU] Tesla board members about a month ago reached out to several executive search firms to find a successor for CEO Elon Musk, The Wall Street Journal (WSJ) reported on Wednesday (Apr 30), citing sources familiar with the discussions. The current status of the board’s push, which,…
Read MoreAirbus tells US airlines they’ll need to pay their own tariffs
[LONDON] Airbus said it will not cover the cost of tariffs on its planes imported by US airlines, setting up a clash with carriers unwilling to shoulder surcharges imposed by US President Donald Trump. The European planemaker is responsible for any added duties on supplies it imports to its own aircraft assembly plant in Mobile,…
Read MoreCouche-Tard clinches deal to deepen Seven & i Takeover talks
[TOKYO] Alimentation Couche-Tard and Seven & i Holdings have signed a non-disclosure agreement that will give the Canadian company access to the 7-eleven operator’s financial data as it seeks to formalise a buyout offer, the companies said. They also agreed to a standstill provision, Seven & i said on Thursday (May 1), adding that the…
Read MoreVisa, Bridge partner to launch stablecoin-linked cards
[NEW YORK] Visa and stablecoin infrastructure provider startup Bridge are partnering to offer stablecoin-linked Visa cards to customers across multiple countries in Latin America, which the companies say will allow users to make everyday purchases in cryptocurrency tokens. The move comes as the US Congress appears likely to pass a bill creating stablecoin rules for…
Read MoreMeta quarterly profit climbs despite big cloud spending
[SAN FRANCISCO] Tech giant Meta on Wednesday (Apr 30) reported quarterly profits that were well above expectations, brushing aside market worries that its heavy investments in cloud computing and artificial intelligence (AI) would hamper growth. The company reported a US$16.6 billion profit in the first three months of the year on revenue of US$42.3 billion,…
Read MoreOil settles lower, posts steepest monthly decline since 2021
[NEW YORK] Oil prices settled down on Wednesday (Apr 30) and recorded the largest monthly drop in almost 3½ years after Saudi Arabia signalled a move towards producing more and expanding its market share, while the global trade war eroded the outlook for fuel demand. Brent crude futures settled US$1.13, or 1.76 per cent, lower…
Read MoreTrump should revise rules for AI chip exports, says Nvidia CEO
Huang says policies and support from the administration are crucial to accelerating the global diffusion of American AI technology Published Wed, Apr 30, 2025 · 11:22 PM [WASHINGTON] Nvidia chief executive officer Jensen Huang said he would like the Trump administration to change regulations for exporting artificial intelligence technology from the US to the rest…
Read MoreTikTok plans to build 1b euro data centre in Finland
[HELSINKI] TikTok plans to invest 1 billion euros (S$1.48 billion) to build its first data centre in Finland as it moves data storage for European users to the continent, a TikTok spokesman confirmed on Wednesday (Apr 30). The spokesman declined to give further details as he confirmed the plan revealed to Reuters by two sources…
Read MoreMiu Miu’s momentum powers Prada sales growth
Published Wed, Apr 30, 2025 · 08:03 PM [MILAN] Net revenues at Italian luxury group Prada rose 12.5 per cent at constant exchange rates in the first quarter, slightly above analysts expectations, thanks to a 60 per cent jump in retail sales at its smaller brand Miu Miu. The group, which this month struck a…
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