Posts by Stephanie Irvin
Southwest CEO says US airline industry is already in a recession
The Dallas-based carrier is more dependent on domestic leisure travellers for revenue than US peers with more extensive international operations and corporate business clients Published Fri, Apr 25, 2025 · 09:50 AM [DALLAS] Southwest Airlines’s chief executive officer is not waiting for economists to declare a technical downturn in the US economy: As far as…
Read MoreJD.com’s delivery clash with Meituan may worsen US$70 billion rout
[HONG KONG] While much of the world is focused on a volatile international trade war, two of China’s largest Internet companies are inflicting greater damage on each other at home. JD.com has launched a costly battle to steal market share away from food-delivery leader Meituan, while the latter has been encroaching on the former’s e-commerce…
Read MoreUS bank regulators pull back guardrails on bank crypto activities
Published Fri, Apr 25, 2025 · 08:05 AM [WASHINGTON] US banking regulators announced on Thursday (Apr 24) that they were pulling back several documents that urge banks to show caution when dabbling in cryptocurrency and related activities. The US Federal Reserve said it was withdrawing a pair of supervisory letters stipulating that banks should seek…
Read MoreIntel delivers disappointing forecast, moves to slash jobs
[SAN FRANCISCO] Intel, the chipmaker attempting a comeback under new chief executive officer Tan Lip-Bu, gave a weak forecast for the current period and said it’s cutting workers to bring costs in line with the business’s smaller size. Second-quarter revenue will be between US$11.2 billion and US$12.4 billion, the company said on Thursday (Apr 24).…
Read MoreUS: Stocks rise for 3rd straight day
Published Fri, Apr 25, 2025 · 06:06 AM [NEW YORK] Wall Street stocks rallied for a third straight session on Thursday (Apr 24), shrugging off mixed earnings and signs US trade deals with China and the European Union are not imminent. China poured water on the likelihood of a speedy deal with Washington, with a…
Read MoreUS: S&P 500 edges higher with trade negotiations, earnings in focus
Published Thu, Apr 24, 2025 · 09:48 PM [NEW YORK] The S&P 500 edged up at the open on Thursday (Apr 24), as investors assessed a bevy of mixed corporate results and developments in the US-China trade war. The Dow Jones Industrial Average fell 75.5 points, or 0.19 per cent, at the open to 39,531.05.…
Read MoreHong Kong bourse operator to shift headquarters in US$812 million deal
Published Thu, Apr 24, 2025 · 07:56 PM [HONG KONG] Hong Kong’s bourse operator will shift its headquarters, it said on Thursday (Apr 24) and will take over the top nine floors of a building in a complex owned by developer Hongkong Land for HK$6.3 billion (S$1.06 billion). Hong Kong Exchanges and Clearing’s (HKEX) new…
Read MoreSuntec Reit posts 3.4% rise in Q1 DPU to S$0.01563
[SINGAPORE] Suntec Real Estate Investment Trust’s (Reit) distribution per unit (DPU) rose by 3.4 per cent to 1.563 Singapore cents for its first quarter ended Mar 31, 2025, from 1.511 cents in the same period a year earlier. Revenue was up 3.4 per cent at S$113.5 million for the quarter, from S$109.8 million in the…
Read MoreSingapore stocks end flat on Thursday; markets across Asia end mixed
[SINGAPORE] Local stocks ended Thursday (Apr 24) muted, following a mixed performance in other Asian markets after China signalled its openness to trade talks and US President Donald Trump suggested potential tariff cuts on Beijing. The benchmark Straits Times Index (STI) closed almost flat, down 0.4 points at 3,831.92. Across the broader market, decliners outnumbered…
Read MoreHuawei raises record 20 billion yuan in Chinese debt issuance spree
[BEIJING] The parent of Huawei Technologies is tapping low borrowing costs in China’s credit market to raise a record amount of debt, as trade tensions with the US spur a shift towards local financing. Huawei Investment & Holding has raised 20 billion yuan (S$3.4 billion) via ultra-short-term commercial paper issuance since late March, its biggest…
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