Posts by Stephanie Irvin
Venture capitalist Finian Tan sought to invest in alleged scammer Ng Yu Zhi’s nickel business
[SINGAPORE] Well-known venture capitalist Finian Tan was told in August 2020 that someone was keen to invest in his funds. That person turned out to be the alleged nickel trading scammer Ng Yu Zhi, to whom Dr Tan was said to have been cheated into delivering US$19.2 million. Dr Tan arranged their first meeting on…
Read MoreMercedes weighs moving some car production to US over tariffs
[BERLIN] Mercedes Benz Group is considering shifting the production of another vehicle model to the US in response to Donald Trump’s 25 per cent auto tariffs. The move may be necessary to deal with the cost of the duties, Mercedes’ production chief Jörg Burzer said on Thursday (Apr 3), declining to comment on which model…
Read MoreUS emerges as biggest loser in markets from Trump’s tariffs
US equity index futures tumble more than 4% after President Trump announces a sweeping series of tariffs [NEW YORK] Donald Trump’s shake-up of the global trading system is hurting US assets more than those in many of the big economies he has just slapped with additional tariffs. US equity index futures tumbled more than 4…
Read MoreSingapore’s dollar in pole position to extend lead in Asia
Demand for the city-state’s currency may sustain even as expectations for further MAS policy easing grow, with core inflation in February rising at the slowest pace since June 2021 [SINGAPORE] The Singapore dollar’s outperformance in the first quarter can extend over the near-term, at least according to a Bloomberg analysis of its relationship with other…
Read MoreMAS tells fintech platforms to communicate underlying products in investment accounts clearly: sources
Consumers should be clear that a fintech platform that offers underlying banking products does not equate to it being a bank [Singapore] Fintech platforms have been told by the Monetary Authority of Singapore (MAS) to clearly communicate underlying products in their investment accounts. This move is likely a response to the Chocolate Finance incident, when…
Read MoreTariff loophole that helped Temu, Shein will close May 2
[SEATTLE] De minimis tariff exemptions, which currently allow packages worth as much as US$800 from China and Hong Kong to enter the US duty-free, will end on May 2, the White House said, a potential blow to discount marketplaces such as Temu and Shein. US President Donald Trump in February, signed executive orders to eliminate…
Read MoreChinese firms place US$16 billion in order for new Nvidia chips: report
Washington has banned exports of the company’s most advanced chips to China since 2022 [BENGALURU] Chinese companies including ByteDance, Alibaba Group and Tencent Holdings have placed at least US$16 billion in orders for Nvidia’s H20 server chips in the first three months of the year, the Information reported on Wednesday (Apr 2), citing two sources…
Read MoreApple production hubs hit by tariffs, sending shares plummeting
[LOS ANGELES] Apple is finding itself squarely in the crosshairs of US President Donald Trump’s new tariffs, even after a years-long effort to insulate the iPhone maker from trade wars and supply chain disruptions. A long list of levies unveiled by the White House are poised to hit the company especially hard, triggering an after-hours…
Read MoreUS: Wall Street ends up, but Trump tariff speech sends futures lower
[BENGALURU] US stock indexes finished higher after a choppy trading session on Wednesday (Apr 2), falling early and then rebounding as investors made last-minute bets to position themselves ahead of US President Donald Trump’s sweeping tariff announcements. Trump began speaking after Wall Street closed, and both S&P 500 futures and Nasdaq futures reversed gains as…
Read MoreOCBC to finance £10 billion in UK investments by 2030 under new partnership
[SINGAPORE] OCBC plans to deploy £10 billion (S$17.4 billion) in financing over the next six years to support foreign direct investment into the United Kingdom, the bank said on Wednesday (Apr 2). The funds will be channelled into “priority British growth sectors” – including in energy, transportation, infrastructure, data centres and real estate – by…
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