Posts by Stephanie Irvin
Payments firm Block’s profit misses estimate on underwhelming holiday spending
BLOCK’S fourth-quarter profit fell short of estimates as spending growth during the holiday season and gains from a post-election surge in bitcoin lagged expectations, sending the payment firm’s shares down 7 per cent after market close on Thursday. While a robust labour market and steady wage growth have supported consumer spending – bolstered further by…
Read MoreFar East Hospitality Trust expands mandate to global investments, adjacent lodging asset classes
FAR East Hospitality Trust (FEHT) will have an expanded mandate to invest in new geographical markets and asset classes, effective 30 days from Thursday (Feb 20). The managers of the stapled security group – which comprises Far East Hospitality Real Estate Investment Trust and Far East Hospitality Business Trust – said they would broaden the…
Read MoreAlibaba revenue beats estimates as signs of a comeback mount
ALIBABA Group Holding posted its fastest pace of revenue growth in more than a year, reflecting a turnaround in its commerce business and big strides into the critical field of AI. It reported an 8 per cent rise in sales to 280.2 billion yuan (S$51.7 billion) in the December quarter, versus an average projection for…
Read MoreGenting Singapore posts 34% fall in H2 net profit to S$222 million
GENTING Singapore posted a 34 per cent fall in net profit to S$222 million for the half year ended Dec 31, 2024, from S$334.9 million in the corresponding year-ago period. The decline comes as half-year revenue slid 12 per cent year on year to S$1.2 billion, from S$1.3 billion. In its bourse filing on Thursday…
Read MoreSingapore shares decline amid hawkish Fed minutes; STI loses 0.2%
SINGAPORE equities ended Thursday (Feb 20) lower, as markets reacted to the US Federal Reserve’s January meeting minutes. The local bourse’s blue-chip barometer, the Straits Times Index (STI), slid 0.2 per cent or 6.53 points to 3,927.51. Across the broader market, losers beat gainers 320 to 205, with 1.5 billion securities worth S$1.4 billion changing…
Read MoreSingapore shares decline amid hawkish Fed minutes; STI down 0.2%
Across the broader market, losers beat gainers 320 to 205, after 1.5 billion securities worth S$1.4 billion change hands SINGAPORE stocks ended Thursday (Feb 20) lower, as markets reacted to the Federal Reserve’s January meeting minutes. The benchmark Straits Times Index (STI) fell 0.2 per cent or 6.53 points to 3,927.51. Across the broader market,…
Read MoreJapan’s Suzuki aims to boost sales by a third by 2030, invest heavily in India
JAPANESE small car maker Suzuki Motor said it will target 4.2 million vehicles in global sales in five years’ time – an increase of nearly a third – with most of its expansion concentrated in its main market of India. It expects 60 per cent of those sales to be in India, adding that the…
Read MoreKKR wins control of US$4.4 billion Fuji Soft after clash with Bain
The scramble to take Fuji Soft private is rooted in the value of the software company’s trove of human resources and real estate KKR has secured enough shares of Fuji Soft in a tender offer to take the company private, according to sources familiar with the matter, formally ending a months-long bidding war against Bain…
Read MoreComplex AI chips will drive demand for Lam Research chipmaking tools, CEO says
LAM Research chief executive Tim Archer said on Wednesday (Feb 19) that the thirst for complex artificial intelligence (AI) silicon will push the likes of Taiwan Semiconductor Manufacturing Company (TSMC) to purchase more of the US company’s tools over the next three years. The remarks were part of the first analyst day Lam Research has hosted…
Read MoreSingPost Q3 operating profit down 23.8% at S$21.1 million
SINGAPORE Post’s (SingPost) group operating profit for the third quarter ended December was S$21.1 million, down 23.8 per cent on the year from S$27.7 million. The decrease in operating profit comes as operating expenses for SingPost’s Singapore and International business units outpaced revenue growth. “The decline was driven primarily by ongoing macroeconomic pressures, including…
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