Posts by Stephanie Irvin
Dark fleet oil tanker caught in recent collision heads to China
A DARK-FLEET oil tanker that was recently involved in a crash in South-east Asia is now on its way to China. Ceres I, an ageing very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in eastern China, according to ship-tracking data compiled by Bloomberg. The vessel meets widely accepted…
Read MoreMarina Bay Sands’ fourth tower to receive US$8 billion investment, expected to open in Jan 2031
LAS Vegas Sands (LVS), the parent company of Marina Bay Sands (MBS), is set to invest US$8 billion in the integrated resort’s (IR) expansion project dubbed “Marina Bay Sands IR2” – which includes a fourth hotel tower with a sky roof, a 15,000-seat entertainment arena, and additional premium Mice (meetings, incentives, conferences & exhibitions) space,…
Read MoreUnilever India misses profit estimate as low demand persists
HINDUSTAN Unilever, India’s biggest household products maker, reported second-quarter profit that missed expectations amid a lingering spell of weak demand for consumer goods. The Indian unit of Unilever saw net income rise to 26.1 billion rupees (S$411 million) in the three months ended Sep 30, down 4 per cent from a year ago, according to…
Read MoreSingapore shares open higher on Thursday; STI up 0.3%
SINGAPORE shares began Thursday (Oct 24) trading in positive territory as overseas markets saw losses overnight. As at 9.01 am, the Straits Times Index (STI) was up 0.3 per cent or 10.38 points to 3,611.16. Across the broader market, losers outnumbered gainers 53 to 37 after 50.1 million securities worth S$71.9 million changed hands. Resort…
Read MoreApple sharply cuts back on Vision Pro production: report
APPLE has sharply scaled back its Vision Pro production since early summer and could stop making the existing version of the mixed reality headset by year-end, The Information reported on Wednesday (Oct 23), citing sources involved in building its components. Sales for the device have been waning after initial enthusiasm following its launch in February,…
Read MoreWhirlpool reaffirms forecast despite pre-election sales slump
WHIRLPOOL, the owner of Maytag, rose in late trading on Wednesday (Oct 23) after reporting better than expected earnings, and reaffirming its full-year sales forecast. The results show that things are not getting worse for Whirlpool, which also owns the KitchenAid brand. While net sales trailed projections, the company said it expects consumer sentiment to…
Read MoreTesla surprises with forecasts for sales and deliveries, shares jump
TESLA CEO Elon Musk said on Wednesday (Oct 23) that he expects 20 to 30 per cent vehicle growth next year, sending the company’s shares up 11 per cent in post-market trading. The company’s quarterly report earlier in the day reassured Wall Street that the electric vehicle (EV) maker was improving at its core business…
Read MoreHilton cuts 2024 room revenue growth forecast on slowing consumer spending
HILTON Worldwide lowered its annual room revenue growth and net income forecasts as steady demand in Europe and business travel were not enough to counter a fall in demand in China and disruptions to its US business during the third quarter. Shares of Hilton, which owns hotel brands such as Waldorf Astoria and DoubleTree, were…
Read MoreOUE Reit Q3 net property income drops 3.7% to S$60.3 million
OUE Real Estate Investment Trust (Reit) reported a 3.7 per cent dip in net property income in the third quarter to S$60.3 million, from S$62.7 million in the year-ago period. The slight decline was due to an upward revision of prior years’ property tax for Hilton Singapore Orchard and Crowne Plaza Changi Airport, the Reit’s…
Read MoreBoeing CEO presses turnaround as loss balloons to US$6 billion
BOEING CEO Kelly Ortberg laid out a turnaround plan on Wednesday (Oct 23), calling for a “fundamental culture change” at the struggling planemaker as its quarterly losses surged to US$6 billion due to a crippling strike. The company has now racked up losses of nearly US$8 billion for the current year, as a halt in…
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