Posts by Stephanie Irvin
UPS profit beats estimates, to cut 20,000 jobs on economic worries
The parcel giant is not providing any updates to its full-year outlook due to the economic uncertainty Published Tue, Apr 29, 2025 · 06:51 PM [LOS ANGELES] United Parcel Service reported a better-than-expected profit for its first quarter on Tuesday (Apr 29) and said it will cut 20,000 jobs to control costs against a tough…
Read MoreSingapore stocks end lower; STI down 0.2%
[SINGAPORE] Stocks on the local bourse closed slightly lower on Tuesday (Apr 29) after US President Donald Trump’s administration said it will move to reduce the impact of his automotive tariffs. The benchmark Straits Times Index (STI) ended 0.2 per cent or 6.6 points lower at 3,805.18. Across the broader market, gainers outnumbered losers 259…
Read MoreTemasek’s Gabriel Lim to lead Seviora Holdings as CEO
[SINGAPORE] Temasek Holdings’ head of corporate strategy Gabriel Lim will exit his post to lead the Temasek-owned asset management group Seviora Holdings, the group announced in a statement on Tuesday (Apr 29). Lim will join the group on May 1 as designated chief executive officer, and will also be appointed to the board. He will…
Read MorePorsche’s Q1 profit margin plunges on China weakness, US tariffs
Published Tue, Apr 29, 2025 · 03:24 PM [FRANKFURT] Luxury sports carmaker Porsche on Tuesday (Apr 29) said its operating margin fell to 8.6 per cent in the first quarter, below analyst estimates, hit by weaker demand in China as well as US import tariffs. “The macroeconomic situation will remain challenging. We can’t completely escape…
Read MoreCarlsberg maintains full-year outlook, warns of volatile consumer sentiment
Carlsberg expects between 1% and 5% growth in organic operating profit for the current year Published Tue, Apr 29, 2025 · 02:52 PM [COPENHAGEN/LONDON] Danish brewer Carlsberg on Tuesday (Apr 29) reported first-quarter sales slightly below expectations and kept its outlook for the full year unchanged despite warning of volatile consumer sentiment. “It was a…
Read MoreBusiness 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…
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