Posts by Stephanie Irvin
Author of explosive Meta memoir stars at US Senate hearing, details Zuckerberg working with China
[SAN FRANCISCO] The former Facebook employee behind a scathing book about parent company Meta on Wednesday alleged that the social networking giant collaborated with the Chinese government on artificial intelligence, censorship and more, then lied to Congress about what it was doing. Former global policy director Sarah Wynn-Williams, who worked at the company from 2011…
Read MoreAmazon cancels some inventory orders from China after tariffs
[SEATTLE] Amazon.com has cancelled orders for multiple products made in China and other Asian countries, according to a document reviewed by Bloomberg and sources familiar with the matter, suggesting the company is reducing its exposure to tariffs imposed by US President Donald Trump. The orders for beach chairs, scooters, air conditioners and other merchandise from…
Read MoreIn China, whispers of change as some companies tell staff to work less
[BEIJING] A handful of major Chinese companies like home appliance maker Midea have new badges of honour this year: mandatory clock-off times for staff and bans on after-hours meetings. Staff at Midea once toiled till late in the evening, but now they’re told to leave by 6.20 pm. The company’s page on social media app…
Read MoreJapan’s Nikkei down 3.9% at close
[TOKYO] Tokyo stocks ended almost four per cent lower on Wednesday (Apr 9) and the yen firmed against the dollar after US tariffs against countries including Japan came into force. The Nikkei 255 index of shares ended the day down 3.93 per cent at 31,714.03. The yen came off earlier highs to trade at 145.27…
Read MoreUS office, China-exposed S-Reits feature among top losers in continued sell-off on Trump tariffs
[SINGAPORE] Singapore-listed real estate investment trusts, or S-Reits, slumped on Wednesday (Apr 9) afternoon, with almost all counters in the red. Among the biggest losers were industrial S-Reits. Mapletree Logistics Trust was the biggest loser among all S-Reits, shedding close to 10 per cent as at 1.30 pm on Wednesday. Other industrial S-Reits that fell…
Read MoreTrump tariffs: US office, China-exposed S-Reits among top losers in continued sell-off
[SINGAPORE] Almost all Singapore-listed real estate investment trusts, or S-Reits, ended in the red on Wednesday (Apr 9), with US office and China-exposed S-Reits among the top losers. The share movement comes after US tariffs, which includes a 104 per cent tax on many Chinese goods, took effect at 12.01 am US time on Wednesday.…
Read MoreBusiness Accounting Reports That Matter
When running a business, keeping track of your finances is key. Accounting reports are the health check of your company’s financial well-beingThey help you see where you stand, what’s working, and what needs attention. In this article, we’ll explore the important accounting reports every business should be familiar with and why they matter. From guiding…
Read MoreAsia: Equities resume selloff as Trump cranks up trade war
[HONG KONG] Equities and oil plunged again on Wednesday after Donald Trump ramped up his trade war by hitting China with tariffs of more than 100 per cent as sweeping measures against the United States’ dozens of partners are set to come into effect. After a brief respite Tuesday from the panic-selling at the start…
Read MoreChina drives record gold ETF inflows as trade war deepens
[NEW YORK] Chinese investors funnelled a record amount of cash into gold-backed exchange-traded funds (ETFs) last week, drawn by the safety of the asset as combative trade war rhetoric from the world’s biggest economies shakes global markets. Inflows to four major onshore gold ETFs, including Huaan Yifu Gold ETF, hit a record of 7.6 billion…
Read MoreHedge funds move into Asia power market with new hires
[SINGAPORE/TOKYO] Hedge funds have joined the hunt for power-trading talent in Asia, as they push into the region’s increasingly active and volatile electricity markets with the aim of offsetting declining profits from mainstay commodities. Over recent years, the Covid-19 pandemic, then Russia’s invasion of Ukraine and the crisis that followed created major disruptions in energy…
Read More