Posts by Stephanie Irvin
Semiconductor companies poised for more broad-based recovery in 2025
Some Singapore-listed players, such as Frencken Group and Grand Venture Technology, may come out ahead and outperform as well, say market watchers THE semiconductor industry saw a bumpy recovery in 2024, but a more broad-based rebound is expected in the coming year. Some Singapore-listed players, such as Frencken Group and Grand Venture Technology (GVT), may…
Read MoreNio delivers 221,970 vehicles in 2024 and hits record high in December
CHINESE electric vehicle (EV) maker Nio delivered a record 72,689 vehicles in the fourth quarter of 2024, 45.2 per cent higher than the previous year. For the full year, the group delivered 221,970 vehicles, a 38.7 per cent increase year on year, Nio said on Wednesday (Jan 1). This has taken its cumulative deliveries to…
Read MoreKingsmen Creatives appoints new CEO Chong Siew Ling
It has also appointed Marianne Soh, the general counsel of the group and the daughter of co-founder Benedict Soh, as a director COMMUNICATIONS and design group Kingsmen Creatives will have a new chief executive officer from Jan 1, 2025. Chong Siew Ling, 64, will be responsible for the strategic leadership, corporate governance and operational management…
Read MoreUS Steel jumps most in a year on Nippon Steel offer to Biden
NIPPON Steel offered to give the US government a veto over any reduction in US Steel’s production capacity in a proposal that marks a last-ditch effort to win President Joe Biden’s approval for its takeover of the iconic American company, according to a person familiar with the matter. Shares of US Steel surged by the…
Read MoreUS: Wall Street ends lower, capping a banner year
WALL Street lost ground on Tuesday (Dec 31) as investors closed the book on a remarkable year for equities, during which the US stock market was powered to record highs by the twin engines of the artificial-intelligence boom and the US Federal Reserve’s first interest rate cuts in 3.5 years. The three major US stock…
Read MoreSingPost deliveries in whistle-blower report faced issues like conflict zones: fired CEO, CFO
A “SIGNIFICANT majority” of the shipments involved in Singapore Post’s (SingPost) parcelgate fiasco were linked to known issues like conflict zones. This was the comeback from the company’s former group chief executive Vincent Phang and group chief financial officer Vincent Yik on Tuesday (Dec 31) – who, along with Yu Li, head of its international…
Read MoreVenezuela fines TikTok US$10 million over viral challenge deaths
VENEZUELA’S highest court on Monday (Dec 30) fined TikTok US$10 million in connection with viral challenges that authorities say left three adolescents dead from intoxication by chemical substances. Supreme Tribunal of Justice judge Tania D’Amelio said that the popular video-sharing app had been negligent in failing to implement “necessary and adequate measures” to stop the…
Read MoreNvidia closes US$700 million Run:ai acquisition after regulatory hurdles
CHIPMAKER Nvidia has completed its acquisition of Israeli AI firm Run:ai, the startup said on Monday (Dec 30), following antitrust scrutiny over the buyout. The European Commission granted unconditional approval to Nvidia’s US$700 million bid for Run:ai, which helps developers optimise infrastructure for artificial intelligence (AI), earlier in December after saying in October that the…
Read MoreBig Lots’ new rescue deal at risk following creditor opposition
A NEW proposal to prevent Big Lots from shutting all its stores is at risk following complaints from some creditors that stand to incur losses in the troubled retailer’s bankruptcy. The company on Dec 27 unveiled a proposal to sell the business to Gordon Brothers Retail Partners, which in-turn has offered to transfer 200 to…
Read MoreWilmar International to acquire India’s Adani Group’s 31.06% stake in consumer goods joint venture
WILMAR International announced on Monday (Dec 30) that it will acquire Indian multinational conglomerate Adani Group’s remaining stake in Adani Wilmar, a consumer goods joint venture between both groups. Wilmar’s wholly owned subsidiary Lence has entered into an agreement with Adani Commodities for an option to acquire its 31.06 per cent stake in Adani Wilmar…
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