Posts by Stephanie Irvin
Italy probes CK Hutchison unit on tax in 3.4 billion euros asset sale
CK HUTCHISON’s Italian telecommunications unit is the target of a probe alleging that it evaded taxes during a 3.4 billion euros (S$4.8 billion) asset sale to Cellnex Telecom. The investigation by Italy’s finance police hinges on whether Wind Tre, the country’s third-biggest phone company, failed to pay registration taxes while selling several thousand mobile phone…
Read MoreElite UK Reit divesting property in England for £1.6 million
THE manager of Elite UK Reit announced in a bouse filing on Friday (Dec 20) that Perpetual (Asia) Limited, the trustee of the real estate investment trust (Reit), has entered into a sale contract to divest a property in the Reit’s portfolio. The divestment involves St Paul’s House, a property located in Marshfield Road in…
Read MoreStocks to watch: CDLHT, Cromwell E-Reit, CLI, Clas, IReit Global, Elite UK Reit
THE following companies saw new developments that may affect the trading of their securities on Friday (Dec 20): CDL Hospitality Trusts (CDLHT): The stapled group is venturing into the student accommodation business for the first time with the purchase of Benson Yard, a purpose-built student accommodation (PBSA) in Liverpool. The PBSA and the adjacent vacant…
Read MoreNike results beat low expectations; CEO warns turnaround will be a slog
NIKE’S results beat modest estimates on Thursday (Dec 19) and its shares jumped briefly, but the company soon dashed investor hopes and sent shares lower when a top executive predicted revenues would fall by double digits in the third quarter. Nike’s new CEO Elliot Hill warned of short-term pain as the embattled sportswear seller works…
Read MoreUS: Stocks end flat as rebound effort losses steam
WALL Street stocks finished little changed on Thursday (Dec 19) as Treasury bond yields climbed further in the wake of a Federal Reserve decision that prompted deep selling in the prior session. US indices bounced early in the day, but the rebound faded as the yield on the 10-year US Treasury note rose above 4.5…
Read MoreCDL Hospitality Trusts ventures into student accommodation with £37.3 million UK deal
CDL Hospitality Trusts is venturing into the student accommodation business for the first time, with the purchase of a purpose-built student accommodation (PBSA) in Liverpool, United Kingdom. The PBSA is part of CDL Hospitality Trusts’ (CDLHT) wider acquisition of freehold land, which also comprises a piece of vacant land adjacent to the student accommodation asset,…
Read MoreSaudi Global Ports, co-owned by PSA, taps banks for up to US$1 billion IPO
STATE-backed Saudi Global Ports has picked banks including Goldman Sachs Group and HSBC Holdings to help arrange a planned Riyadh initial public offering, according to people familiar with the matter. The port operator owned by the kingdom’s Public Investment Fund (PIF) and Singapore’s PSA International could be listed as early as next year, according to…
Read MoreNBA Salary Rankings 2024
Hey there, basketball fans! The NBA salary rankings for 2024 are out, and they’re as eye-popping as ever. From seasoned legends to fresh faces, the league’s top earners are raking in some serious cash. Let’s dive into who’s making the big bucks this year and what it all means for the players and the game.…
Read MoreAnalysts optimistic on Asian equities, bonds even as US Fed signals fewer rate cuts
They note strong long-term outlook for banking, manufacturing sectors here, and add bond investors will benefit from less volatility ALTHOUGH the “hawkish” interest rate cut by the US Federal Reserve led to Asian markets – including Singapore’s – opening in the red on Thursday (Dec 19), analysts remained optimistic on the outlook for both the Asia…
Read MoreAnalysts optimistic on Asian equity, bonds even as US Fed signals fewer rate cuts
Bond investors will benefit from less volatility due to shifting rate expectations, they say ALTHOUGH the “hawkish” projection of interest rate cuts by the US Federal Reserve for next year witnessed Asian markets – including Singapore’s – open in the red on Thursday (Dec 19), analysts remained optimistic on the outlook for both the Asia…
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