Posts by Stephanie Irvin
Straits Times Index closes slightly lower after cutting intra-day losses
[SINGAPORE] The Singapore blue-chip gauge Straits Times Index (STI) slid almost 0.8 per cent during intra-trading but managed to erase the losses and closed slightly down on Tuesday (Apr 1). The STI dipped 3.58 points or 0.1 per cent to 3,968.85. This came as Wall Street closed overnight marginally higher after a late-session climb. SPI…
Read MoreCoinbase sees worst quarter since FTX fell as crypto slides
[NEW YORK] Shares of Coinbase Global and other firms linked to cryptocurrencies were hammered this quarter as growing concerns about the US economy weighed on digital assets. Coinbase fell 31 per cent in the worst quarterly performance since FTX collapsed near the end of 2022. Nearly every major crypto-linked stock plunged alongside it, from…
Read MoreBoeing slows output of 737 Max jets to 31 a month due to wing systems issues
The US planemaker is working to grow production of its 737 MAX jet to at least 38 a month this year [WASHINGTON] Boeing slowed production of 737 MAX airplanes to 31 per month from 38 due to delays related to fitting wing systems, the Air Current reported on Tuesday (Apr 1), citing people familiar with…
Read MoreHiring Red Flags You Can’t Ignore
Hiring can be tricky, and spotting the right candidate is crucial. But sometimes, the signs are there, waving red flags that you can’t ignore. Recognizing these hiring red flags can save you from making costly mistakes that affect team dynamics and company culture. In this article, we’ll break down common behaviors and traits to watch…
Read MoreUOB trims interest rate on flagship One Account, joins OCBC in 360 Account cut
[SINGAPORE] UOB will cut interest rates on its flagship savings account, the One Account, in line with interest rate expectations. With effect from May 1, the maximum interest rate will be cut to 3.3 per cent per annum on the first S$150,000, down from 4 per cent. This is the second year in a…
Read MoreHo Bee Land drops AVJennings bid; Australian property developer to be acquired by US fund
[SINGAPORE] Real estate group Ho Bee Land on Tuesday (Apr 1) said it has decided not to proceed with its offer for Australian property developer AVJennings. This comes after AVJennings accepted a competing binding offer. In January, Ho Bee Land – which indirectly holds a 5.49 per cent stake in AVJennings – launched a non-binding…
Read MoreBuffett’s Berkshire Hathaway mandates banks for yen bond deal
WARREN Buffett’s Berkshire Hathaway is planning to sell yen bonds in the global markets, after the billionaire revealed that the firm is looking to increase ownership in Japan’s five main trading houses. The US conglomerate, which has been a regular issuer of yen bonds since it first tapped the market in 2019, mandated BofA Securities…
Read MoreKeppel Infrastructure Trust to buy 46.7% stake in subsea cable firm Global Marine for US$90.6 million
[SINGAPORE] Keppel Infrastructure Trust (KIT) will be acquiring about 46.7 per cent stake in Global Marine Group (GMG), a leading subsea cable solutions provider for about US$90.6 million, its manager announced on Tuesday (Apr 1). The stake will be acquired from Keppel Infrastructure Fund (KIF), KIT’s trustee-manager, which previously held 100 per cent interest in…
Read MoreCordlife served two letters of demand from customers; any settlement likely to hit group’s finances
One group of clients seeking damages under contract breach, negligence; the other wants warranties and cost compensation [SINGAPORE] Cordlife received two letters of demand on Mar 28, with regard to prior claims alleging loss and damage from cord blood units storage. The clients, whose cord blood units are stored with Cordlife, fall under two categories.…
Read MoreBusiness Collateral: What Banks Really Want
When you’re looking to secure a business loan, one of the most important things to consider is collateral. Collateral can be a game changer, helping you get better loan terms and even higher amounts. But not all collateral is created equal. Understanding the different business collateral types and what banks really want can help you…
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