Posts by Stephanie Irvin
Luckin Coffee, Haidilao and other China chains may be suffering indigestion from regional expansion
WITH competition at home squeezing profits, a growing number of Chinese restaurateurs are looking overseas for fresh opportunities. But there are many challenges on the road to success abroad, not least the logistical and cultural hurdles. “Everyone around me is going abroad,” a restaurant owner said. This surge has spawned a rash of culinary delegations…
Read MoreUS election uncertainty lifts gold prices to record high
GOLD touched a record high on Wednesday (Oct 30), with US election jitters supporting bullion prices, while investors await a raft of US economic data that could shed light on the Federal Reserve’s interest rate trajectory. Spot gold was up 0.1 per cent at US$2,778.27 per ounce, as at 0026 GMT. Bullion inched up to…
Read MoreHong Kong family office partners with top China fund to target the rich
ONE of Hong Kong’s biggest property agencies is ramping up its family office business by partnering with China’s No 2 mutual fund to push wealth management products amid a real estate slump. Centaline Wealth Management, a subsidiary of Centaline Group, will start offering products including fixed-income, money market fund and exchange-traded funds with China Asset…
Read MoreCapitaLand China Trust’s 9M net property income down 5.1% to 930.2 million yuan
CAPITALAND China Trust (CLCT) posted a net property income of 930.2 million yuan (S$172.6 million) for the nine months ended Sep 30, down 5.1 per cent from 980.1 million yuan in the previous corresponding period. This came amid lower contributions from the trust’s logistics and business park portfolios, and exited malls, said CLCT’s manager on…
Read MoreVisa profit beats expectation on resilient consumer spending
VISA’S fourth-quarter profit beat Wall Street expectations on Tuesday (Oct 29), as consumers set aside worries of a slowing economy and swiped their cards to splurge on travel and dining out, sending its shares up 2 per cent in trading after the bell. US consumer spending has remained largely resilient despite elevated interest rates, with…
Read MoreReddit surges to new high after strong holiday-quarter forecast
REDDIT shares surged as much as 22 per cent in extended trading on Tuesday (Oct 29) after the company’s sales and forecast beat analyst expectations. The social network operator, which went public in March, reported sales of US$348.4 million for the three months ended September, surpassing the average US$312.8 million estimate. Reddit was also profitable…
Read MoreSGX starts trading in BYD, Alibaba, Tencent, HSBC and BOC via depository receipts
INVESTORS in Singapore can now gain direct exposure to five mega-cap companies listed in Hong Kong and tap into more opportunities to diversify their portfolios through new Singapore Depository Receipts (SDRs). The Singapore Exchange (SGX) announced on Wednesday (Oct 30) that it will launch Hong Kong SDRs together with Phillip Securities, enabling investors to “express…
Read MoreBYD said to hire former Stellantis UK boss for Europe push
China’s BYD is hiring the former UK chief of Stellantis, according to people familiar with the matter, as the EV maker builds a team of European executives to lead its expansion in the region. Maria Grazia Davino is likely to have responsibility for a cluster of European countries for BYD after she ends garden leave…
Read MoreStarhill Global Reit posts 1.4% rise in Q1 NPI to S$37.9 million
STARHILL Global Reit reported a 1.4 per cent rise in its net property income (NPI) to S$37.9 million for its first fiscal quarter ended Sep 30, 2024, from S$37.4 million in the corresponding year-ago period. This was in line with an increase in revenue, partially offset by higher operating expenses at one Australian property, Myer Centre…
Read MorePayPal forecasts Q4 revenue below estimates as profit push puts growth behind
PAYPAL forecast fourth-quarter revenue below estimates on Tuesday (Oct 29) as the digital payments company shifts its focus to higher-margin businesses from aggressive expansion, sending its shares down 4 per cent before the bell. Efficiency has been a focal point for PayPal as CEO Alex Chriss, who took the helm last year, stresses on cost…
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