Posts by Stephanie Irvin
Return-to-office debate: Amazon CEO denies full in-office mandate is ‘backdoor layoff’
AMAZON CEO Andy Jassy said at an all-hands meeting on Tuesday (Nov 5) that the plan to require employees to be in-office five days per week is not meant to force attrition or satisfy city leaders, as many employees have suggested. The controversial plan mandating workers come to Amazon offices every day starting next year,…
Read MoreGreat Eastern posts 52% higher Q3 profit of S$273.4 million
GREAT Eastern posted a 52 per cent year-on-year increase in net profit to S$273.4 million for the third quarter ended September, from S$180.2 million in the previous corresponding period. This was driven by contributions from its insurance business and favourable investment performance from shareholders’ funds, said the group on Wednesday (Nov 6) in a business…
Read MoreParamount gave up on Warner Bros merger after months of talks
PARAMOUNT Global talked to Warner Bros Discovery about a merger for months before giving up when no concrete offer was received, a regulatory filing shows. The document filed on Monday (Nov 4) details the efforts that Paramount, the owner of CBS and MTV, made to find a buyer or partner before agreeing in July to…
Read MorePrudential’s nine-month profit rises on strong performance
PRUDENTIAL on Wednesday posted a 11 per cent rise in new business profit for the first nine months of fiscal 2024, as the Asia-focused insurer benefited from strong performance from all its segments. The company uses various channels to distribute its products, which has led to broad-based growth in new business profit across regions like…
Read MoreBanks tout all-night US credit trades as election results come in
BANKS are gearing up for late-night US credit trades as results trickle in from presidential and legislative elections that could impact company profits. JPMorgan’s derivatives trading desk will be staffed all night for CDX trading, according to a notice to investors seen by Bloomberg. Citigroup, Royal Bank of Canada and BNP Paribas have also informed…
Read MoreAmos Group loses free float, extends offer closing date to Nov 21
OFFSHORE oil and gas equipment manufacturer Amos Group on Tuesday (Nov 5) said it has lost its free float and intends to extend the deadline for shareholders to accept the offer made by its controlling shareholder. The group in September received a voluntary unconditional general offer of S$0.07 cents a share in cash from its controlling…
Read MoreApollo assets reach US$733 billion with boost from wealth clients
APOLLO Global Management’s push to target wealthy individuals helped boost the firm’s assets under management to US$733 billion, a 16 per cent increase over the same period a year earlier. The firm reported adjusted net income of US$1.13 billion, amounting to US$1.85 per share, in a statement announcing third-quarter earnings on Tuesday (Nov 5). That…
Read MoreChina stocks end at 4-week high as Premier expresses confidence in economic recovery
MAINLAND China stocks closed at a four-week high on Tuesday (Nov 5), after Chinese Premier Li Qiang expressed confidence in the country’s economic recovery, while recent data showed signs of improvement. Li told the opening ceremony of the annual China International Import Expo that he was confident China will meet this year’s growth target, and…
Read MoreSIA Engineering Q2 profit up 10.2% to S$35.6 million; declares S$0.02 dividend per share
AIRCRAFT maintenance provider SIA Engineering (SIAEC) on Tuesday (Nov 5) reported net profit of S$35.6 million for the quarter ended Sep 30, 2024, up 10.2 per cent from S$32.3 million in the corresponding year-ago period. This translates to earnings per share of S$0.0317, from S$0.0287 year on year. Revenue for the quarter was S$307.5 million,…
Read MoreAudi Group profit slumps on China weakness, plant restructuring
VOLKSWAGEN’S Audi-led premium brands barely eked out an operating profit in the third quarter after waning luxury spending in China and a plant restructuring in Brussels dragged on returns. Operating earnings slumped 91 per cent to 106 million euros (S$152 million) in the three months through September, the group said on Tuesday (Nov 5). Deliveries…
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