Posts by Stephanie Irvin
Cyberattacks blight Britain’s retailers as M&S, Co-op’s systems’ breached
[LONDON] Britain’s Marks & Spencer (M&S) entered a second week unable to take online orders on Friday (May 2) following a major cyberattack, while food retailer the Co-op Group said hackers had stolen customer data. Some £700 million (S$1.2 billion) has been wiped off the stock market value of M&S since the hack was revealed…
Read MoreOil posts biggest weekly loss in a month ahead of Opec+ meeting
[NEW YORK] Oil prices fell more than 1 per cent lower on Friday (May 2) and recorded their biggest weekly losses since the end of March, as traders turned cautious ahead of an Opec+ meeting to decide the group’s output policy for June. US West Texas Intermediate (WTI) crude futures settled 95 US cents or…
Read MoreInnovative Fashion Agent Empowers Shopping Discovery
This article summarizes a detailed conversation between a prominent investor and a successful founder. The discussion covers the origin story of a fashion technology company, the role of natural language search in online shopping, and the practical challenges of building a modern startup. The exchange explores insights from early inspirations to using artificial intelligence (AI)…
Read MoreTikTok fined 530 million euros in EU over China data transfer
[DUBLIN] TikTok was hit with a massive EU fine of 530 million euros (S$779 million) on Friday (May 2), accused of sending personal data of Europeans to China and failing to guarantee it was shielded from access by Chinese authorities. TikTok, which is also in the crosshairs of the US, said it planned to appeal…
Read MoreUS: Wall Street opens higher on tariff, jobs data optimism
Published Fri, May 2, 2025 · 10:04 PM [NEW YORK] US stock indexes opened higher on Friday (May 2), as signs of a de-escalation in the trade war with China and a stronger-than-expected jobs report calmed concerns around the economic toll of tariffs. At 09:30 am ET, the Dow Jones Industrial Average rose 414.53 points,…
Read MoreHSBC warns trade turmoil poses serious risks to global growth
[LONDON] Shifting global trade relations have increased economic uncertainty with serious risks to growth, making it difficult for international banks to provide the medium term outlook effectively, HSBC chairman Mark Tucker said on Friday (May 2). Speaking at the bank’s annual shareholder meeting in London, a day after it announced he would retire by the…
Read MoreCICT sells stake in CapitaSpring serviced residence component for S$37.8 million
[SINGAPORE] The manager of CapitaLand Integrated Commercial Trust (CICT) on Friday (May 2) announced the sale of its stake in the serviced residence component of CapitaSpring. CICT owns a 45 per cent interest in Glory SR Trust, which holds the serviced residence component of the integrated development. CICT’s manager did not disclose the purchasers, but…
Read MoreSingapore shares close higher ahead of GE2025; STI up 0.3%
[SINGAPORE] Stocks on the local bourse ended higher on Friday (May 2), a day before Singaporeans head to the polls. The Straits Times Index (STI) gained 0.3 per cent or 12.63 points to 3,845.14. On the STI, Jardine Matheson was the top gainer. It rose 3.9 per cent or US$1.74 to US$46.20. CapitaLand Investment came in…
Read MoreShell Q1 profit drops 28%, beats estimates, keeps share buybacks steady
[LONDON] Shell reported a 28 per cent drop in first-quarter net profit to US$5.58 billion on Friday (May 2), beating analyst expectations, while it held steady the pace of its share buyback programme despite falling oil prices and lower refining margins than last year. It said it would buy back US$3.5 billion worth of shares…
Read MoreAirAsia-owner Capital A eyes Hong Kong listing
[BENGALURU] Malaysia’s Capital A, the owner of budget carrier AirAsia, said on Friday (May 2) it was exploring listing on the Hong Kong stock exchange, as it looks to broaden access to global capital once it exits its financially distressed status. The company, hard hit by pandemic travel restrictions, was classified by Malaysia’s stock exchange…
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