Posts by Stephanie Irvin
LVMH moves Alexandre Arnault to HQ, fueling succession talk
LVMH appointed new divisional leaders in a reshuffle that returns one of billionaire founder Bernard Arnault’s sons to the luxury conglomerate’s Paris headquarters from New York-based jeweller Tiffany & Co. Alexandre Arnault will serve as deputy chief of LVMH’s wines and spirits division under Jean-Jacques Guiony, who will cede his role as chief financial officer…
Read MoreAustralia’s Woolworths, Coles face class action over dodgy discount claims
The new class action tightens pressure on the sector reeling from a cost-of-living crisis An Australian consumer protection law firm has launched a class action lawsuit against the country’s top two supermarkets, Woolworths and Coles, alleging the retailers promoted misleading discount claims on everyday products. The new class action tightens pressure on the sector reeling…
Read MoreEmperador Q3 net profit falls 52.2% to 981 million pesos
PHILIPPINE liquor giant Emperador’s net profit for the third quarter ended September fell 52.2 per cent to 981 million pesos (S$22.4 million), from 2.1 billion pesos in the previous corresponding period. Revenue for Q3 was down 8.9 per cent on the year at 14.6 billion pesos, from 16 billion pesos. This brings net profit for…
Read MoreCompanies like DBS, ST Engineering are buying back their shares. Are there downsides?
THIS month, the board of DBS set up a S$3 billion share-buyback programme, which involves purchasing its own shares from the open market. When these shares are cancelled, the bank’s equity is correspondingly reduced. The programme is expected to provide a “permanent lift” to earnings per share (EPS), and raise return on equity (ROE), DBS…
Read MoreAircraft lessors buckle up for continued turbulence as players consolidate, struggle to scale up
World’s No. 2 lessor sees further M&A amid acute undersupply of planes in Asia in next two to three years THE benefits of scale and the impact of consolidation will continue to shape the aircraft leasing industry over the coming decade, said Andy Cronin, chief executive of Avolon, the world’s second-largest aircraft lessor. He said…
Read MoreJapan Foods sinks into the red with H1’s S$1.6 million net loss on higher operating costs
JAPAN Foods logged a S$1.6 million net loss for its first half ended Sep 30, versus a profit of S$81,000 for the same period in the year prior. This came despite its revenue rising 1.1 per cent on the year to S$43.4 million for H1 FY2025 from S$43 million previously. The group said its higher…
Read MoreDBS share buyback raises questions on capital management as counter hits all-time high
The buyback follows the move by Singapore’s largest lender to issue bonus shares in February to return capital to shareholders DBS has been active on the capital-management front in recent years. It raised dividends in tandem with profit growth, and issued bonus shares after the release of record 2023 results. Its latest move is a…
Read MoreStarHub’s Q3 earnings rise 11.1% to S$40.4 million
STARHUB posted a net profit of S$40.4 million for its third quarter, up 11.1 per cent from S$36.4 million in the year-ago period. Despite the rise in earnings, revenue for Q3 2024 fell 5.8 per cent to S$575.2 million, from S$610.9 million in Q3 2023, the telco said on Wednesday (Nov 13). The fall in…
Read MoreDutch lender ABN Amro’s Q3 profit beats estimates on strong interest income, fees
ABN Amro reported a smaller-than-expected fall in third-quarter profit on Wednesday (Nov 13), driven by sustained improvement in net interest income (NII) and strong performance of fees, the Dutch lender said. ABN Amro, one of three dominant banks in the Netherlands, said net profit fell 9 per cent year on year to 690 million euros…
Read MoreSoftBank to get first new Nvidia chips for Japan supercomputer
SOFTBANK Group will be the first Nvidia customer to build a supercomputer based on the chipmaker’s new Blackwell design, a move to meet growing demand in a country eager to catch up in artificial intelligence (AI). SoftBank’s telecom unit plans to build Japan’s most powerful AI supercomputer to support a wide range of local services,…
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