Posts by Stephanie Irvin
Fortescue profit plunges as China’s iron ore demand declines
FORTESCUE’s first-half profit plunged by 53 per cent from the year before as demand for iron ore from the biggest consumer China softened. The slump in net income to US$1.55 billion for the six months to December came despite the company reaching its highest-ever shipments of iron ore for a half-year of 97.1 million tonnes.…
Read MoreSasseur Reit posts 0.1% rise in H2 DPU to S$0.02929 on resilient rental income
THE manager of Sasseur Real Estate Investment Trust (Reit) on Thursday (Feb 20) posted a distribution per unit (DPU) of S$0.02929 for the second half ended December, up 0.1 per cent from S$0.02927 in the previous corresponding period. This was supported by resilient rental income under the Reit’s entrusted management agreement (EMA) model. EMA rental…
Read MoreBeyond Meat pursues new borrowing to shore up liquidity
PLANT-BASED burger maker Beyond Meat is sounding out investors to borrow as much as US$250 million from private credit lenders, its second such attempt in less than 12 months, according to sources with knowledge of the matter. The Los Angeles-based producer of meat substitutes is working with PJT Partners on the outreach for a new…
Read MoreMicrosoft unveils quantum computing chip for future data centres
MICROSOFT announced its first quantum computing chip, a major step in the company’s effort to produce devices that might someday solve problems beyond the reach of modern computers. The company said its Majorana 1 chip harnesses 8 qubits, the building blocks of quantum computing, on a sticky-note-sized piece of hardware it figures could eventually host…
Read MoreFast Company Discusses the Rise of AI Tools in 2025
The past year has marked a pivotal moment in the evolution of artificial intelligence, fundamentally reshaping how we work, create, and interact. From Google DeepMind’s breakthroughs to the ongoing debates about AI’s role in creative industries, 2023 has shown both the tremendous potential and complex challenges of this technology. I recently took some time to…
Read MoreApple to launch new lower-cost iPhone to capture a broader market
APPLE is set to launch its latest budget iPhone model on Wednesday (Feb 19) as it looks to grab a bigger share of the mid-range smartphone market and fend off competition from rivals such Samsung and China’s Huawei. The fourth generation of the lower-cost model, so far known as iPhone SE, will take on popular…
Read MoreSingapore court freezes worldwide assets in US$830 million Novo Nordisk suit
The Danish drugmaker alleges misrepresentations by biotech firm founder Huang Zhenhua about the success of its kidney drug PHARMA giant Novo Nordisk has been granted an injunction by the Singapore International Commercial Court to freeze the worldwide assets of KBP Biosciences founder Huang Zhenhua to the tune of US$830 million. The Danish drugmaker was led…
Read MoreCordlife ID Teo Tong Kooi steps down; new ID appointed
CORDLIFE Group’s independent director Dr Teo Tong Kooi stepped down from his role at the embattled cord-blood bank on Wednesday (Feb 19). He relinquished the role to “focus on other commitments”, the company said. Dr Teo, 68, was appointed an independent director on May 14, 2024. The company also announced that it had appointed Yuen…
Read MoreSingapore shares end Wednesday higher on UOB earnings, Budget news; STI up 0.2%
The bank’s Q4 profit of of S$1.52 billion beat analysts’ consensus forecast S$1.48 billion SINGAPORE stocks closed higher on Wednesday (Feb 19), as investors digested company earnings reports and the country’s Budget 2025 announcements. The Straits Times Index (STI) rose 8.48 points or 0.2 per cent to 3,934.04, below the record 3,943.23 that the index…
Read MoreUnited Hampshire US Reit declares 4.2% lower H2 DPU of US$0.0205
UNITED Hampshire US Real Estate Investment Trust’s (Reit) distribution per unit (DPU) for the half year ended Dec 31, 2024, fell to US$0.0205, down 4.2 per cent from US$0.0214 over the same period a year earlier. Revenue rose 0.4 per cent to US$36.4 million for the half-year, from US$36.2 million in the year-ago period. This…
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