Posts by Stephanie Irvin
Australian, New Zealand dollars exposed to collateral damage from tariff fallout
[SYDNEY] The Australian and New Zealand dollars were left adrift on Wednesday as investors awaited details on US tariffs that could well trigger a global trade war, dragging on economic growth and commodity prices. Neither country has much direct exposure to the United States – under 4 per cent of Australia’s exports go there –…
Read MoreCan DBS turn Panin Bank around? Analysts think so.
[SINGAPORE] A potential acquisition of Indonesia’s Panin Bank could benefit from DBS’ strong track record of turning around unprofitable targets, and is a good place for South-east Asia’s biggest bank to park its surplus capital, analysts have said. Citi research analyst Tan Yong Hong cited DBS’ 2020 acquisition of India’s Lakshmi Vilas Bank as an…
Read MoreFu Yu seeks claims against six individuals after probe
[SINGAPORE] Components manufacturer Fu Yu is pursuing claims against six individuals, including its largest shareholder Victor Lim, over a probe into its unit that made unverifiable arrangements for a payment worth millions. Fu Yu Supply Chain Solutions (FYSCS), a wholly owned subsidiary of the company, was put under investigation after an internal audit revealed that…
Read MoreSembcorp unit proposes to more than double stake in power supplier Senoko Energy
[SINGAPORE] Sembcorp Industries is moving to raise its stake in energy supplier Senoko Energy that could potentially more than double its interest in the company. Its wholly owned subsidiary Sembcorp Utilities has signed a deal to boost its interest in Senoko to a maximum 70 per cent – more than double its current 30 per…
Read MoreSouth Korea financial watchdog chief offers to resign after veto on shareholder interests
[SEOUL] The head of South Korea’s financial watchdog said on Wednesday he had offered to resign, a day after the acting president vetoed a revised Commercial Act that would have broadened the duty of corporate board members to act in the interests of all shareholders. Financial Supervisory Service (FSS) Governor Lee Bok Hyun had said…
Read MoreAlibaba preparing for flagship AI model release as soon as April
OpenAI, Google and Anthropic have similarly released a flurry of new models in recent weeks [NEW YORK] Alibaba Group Holding is planning to release Qwen 3, an upgraded version of its flagship artificial intelligence (AI) model, as soon as this month with competition from rivals including OpenAI and DeepSeek heating up. The Hangzhou-based company’s new…
Read MoreGM leads first quarter US auto sales as tariffs loom
[WASHINGTON] General Motors led US vehicle sales in the first quarter, according to company reports on Tuesday, as the industry braces for President Donald Trump’s incoming tariffs this week. GM said its US sales jumped 17 per cent in the quarter from the same period a year ago, reporting 693,363 deliveries. Fellow major automakers Toyota,…
Read MoreStakes high for Switch 2 after Nintendo’s stock valuation surges
NINTENDO shares have soared to a series of records in anticipation of its Switch 2 console, making the upcoming reveal of the gadget’s details a potential watershed. The stakes are high for the unveiling of the console on Wednesday, with the stock trading near its priciest level in seven years. The pressure to impress with…
Read MoreEurope: Shares recover ground as markets brace for US tariff deadline
EUROPEAN shares rebounded on Tuesday from a two-month low touched in the previous session, while the market braced for an impending April 2 deadline for US reciprocal tariffs. Barring a slight decline in the media sector, all major European sectors advanced, led by gains in bank and technology stocks. The pan-European Stoxx 600 index closed 1.07 per cent higher…
Read MoreUS: Wall Street opens lower as Trump tariffs loom
[NEW YORK] US stock indexes opened lower on Tuesday (Apr 1), marking a gloomy start to the quarter, as investors braced for the impending storm of sweeping tariff announcements from the Trump administration. At 09.30 am, the Dow Jones Industrial Average fell 154.65 points, or 0.37 per cent, to 41,845.98. The S&P 500 lost 20.54…
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