Posts by Stephanie Irvin
Nvidia supplier SK Hynix’s profit soars 158% on AI demand boost
[SEOUL] SK Hynix’s operating profit jumped a bigger-than-expected 158 per cent, helped by both a global race in artificial intelligence (AI) and stockpiling ahead of US tariffs of both advanced chips and memory used in PCs and smartphones. The Icheon, South Korea-based company on Thursday (Apr 24) warned that macroeconomic uncertainty create volatility in demand…
Read MoreKering sales drop more than expected in first quarter as Gucci crisis deepens
[PARIS] The crisis at Kering’s flagship Gucci label deepened in the first quarter, the company said on Wednesday (Apr 23) as it flagged possible job cuts with no signs of improvement in sight. Kering’s first-quarter sales, marked by a 14 per cent annual decline with a 25 per cent drop at Gucci came in below…
Read MoreOil falls 2% after sources say Opec+ to mull accelerating output
[HOUSTON] Oil prices slipped 2 per cent on Wednesday (Apr 23) as sources said Opec+ would consider accelerating its oil output increases in June, but losses were curbed following a report that US President Donald Trump may cut tariffs on Chinese imports. Brent crude futures settled down US$1.32, or 1.96 per cent, at US$66.12 a…
Read MoreBusiness Credit Scores: The Numbers Game
When it comes to running a business, understanding your credit score is key. Just like personal credit scores, business credit scores can greatly impact your ability to secure loans, negotiate terms with suppliers, and even affect your insurance rates. In this article, we’ll break down what business credit scores are, how they work, and why…
Read MorePropNex Realty faces second lawsuit over 99-1 deals
[SINGAPORE] A PropNex unit – together with its salesperson and a law firm – has been sued by an Indonesian couple claiming about S$850,000 over a 99-to-1 transaction, making this the second reported suit of such nature for the mainboard-listed company’s subsidiary. This lawsuit came after PropNex Realty was one of the three defendants sued…
Read MoreKeppel enters joint venture to develop 19 plots of land in Tianjin
Agreement includes Keppel’s divestment of 30% stake in property developer Tianjin Fulong [SINGAPORE] Keppel Ltd said its wholly owned subsidiaries have entered into an agreement with Tianjin Shunhua Real Estate Construction Management to jointly develop 19 plots of land in the Tianjin Eco-City northern district in China. The asset manager and operator said on Wednesday…
Read MoreFireworks at CDL AGM, but shareholders vote strongly in favour of all resolutions
[SINGAPORE] The boardroom tussle at City Developments Ltd (CDL) involving executive chairman Kwek Leng Beng and his son, chief executive officer Sherman Kwek, was purportedly set aside for the greater good of the property group. But at its annual general meeting (AGM) on Wednesday (Apr 23), there were signs of lingering tensions as a couple…
Read MoreApple fined 500 million euros and Meta 200 million euros for breach of EU law
[BRUSSELS] Apple was fined 500 million euros (S$747.6 million) on Wednesday (Apr 23) and Meta 200 million euros, as European Union antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech. The EU fines could stoke tensions with US President Donald Trump who has threatened to levy…
Read MoreDigital Core Reit’s Q1 distributable income rises 9.9% to US$11.7 million
Its revenue is up 79.9% at US$44.2 million; net property income grows 41.8% to US$22.4 million [SINGAPORE] Digital Core Real Estate Investment Trust (Reit) posted distributable income attributable to unitholders of US$11.7 million for the three months ended Mar 31, 9.9 per cent higher from the year-ago period. The manager of the data centre-focused Reit…
Read MoreNetflix raises prices in Singapore as analysts remain ‘neutral’ on counter
[SINGAPORE] Netflix has raised its subscription prices in Singapore by S$2 to S$4, even as analysts remain neutral on the counter. The prices of the three subscription plans will go from S$13.98 to S$15.98 for the basic subscription, from S$19.98 to S$22.98 for the standard subscription and from S$25.98 to S$29.98 for the premium subscription. …
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