Posts by Stephanie Irvin
L’Oreal sales hurt by deepening demand slowdown in China
L’OREAL posted disappointing sales last quarter as the beauty company suffers from worsening consumer demand in China. Like-for-like sales in North Asia, which includes China, fell 6.5 per cent in the third quarter, L’Oreal said on Tuesday (Oct 22). Analysts surveyed by Bloomberg had expected a gain. The decline marks the fifth straight quarter of…
Read MoreIs Sydney the new London for investing in commercial property? Some Singapore companies seem to think so
Given the positive outlook and favourable market conditions, it would be no surprise if more firms seize opportunities, positioning themselves for growth there AFTER a period which saw write-downs on Australian property by Singapore players, Down Under has seen a renewed spurt of interest in the commercial real estate market this year. Just this month,…
Read MoreBOE’s Bailey says tools need to improve to surveil non-banks
THE Bank of England needs to improve the ways it is able to track developments in the non-banking system, which is less transparent relative to the banking system, Bank of England governor Andrew Bailey said on Tuesday (Oct 22). “We are going to reach a point and we are reaching a point…where we need to…
Read MoreUS working ‘as fast as we can’ to finalise EV conversion grants: official
US ENERGY Secretary Jennifer Granholm said on Tuesday (Oct 22) the department is working “as fast as we can” to finalise US$1.7 billion in grants to fund the conversion of plants to build electric vehicles and components. “We are working as fast as we can to finalise as much as we can – to get…
Read MoreUS: Wall St opens lower as yields rise, investors assess earnings
US stock indexes opened lower on Tuesday (Oct 22), as rising Treasury yields pressured rate-sensitive shares, while investors parsed the latest set of company results to gauge the health of major corporations. The Dow Jones Industrial Average fell 54.8 points, or 0.13 per cent, at the open to 42,876.84. The S&P 500 fell 21.3 points,…
Read MoreGreenback just off August high, US rates and election in focus
THE US dollar was just off a 2½-month high on Tuesday (Oct 22) on expectations the Federal Reserve will take a measured approach in easing its policy, while a too-close-to-call US election campaign kept investors on edge. The dollar’s strength, boosted by rising Treasury yields, kept pressure on the yen, euro and sterling, a theme…
Read MoreUS banks prepare for new era of consumer financial data sharing
US BANKS will now have to give customers access to their financial data after the top consumer watchdog finalised a long-awaited rule aimed at fuelling more competition for financial products. Under the Consumer Financial Protection Bureau (CFPB) measure, consumers will be able to demand, download and transfer their highly-coveted data to another lender or financial…
Read MoreWeak China demand puts brakes on Holiday Inn owner IHG in third quarter
HOLIDAY Inn owner InterContinental Hotels Group (IHG) reported a sharp slowdown in room revenue growth in the third quarter as weak demand in China and a subdued US market overshadowed a solid performance in Europe. Revenue per available room (RevPAR)- a key performance measure for the hotel industry – rose by 1.5 per cent in…
Read MoreAirbus A380 finds favour with airlines amid planemakers’ delivery delays
These super jumbos are particularly useful to increase capacity in slot-constrained airports given their seat capacity, say consultants CARRIERS – which had during the pandemic consigned the aircraft type Airbus A380 to storage with some meant for subsequent scrapping – are re-deploying the super jumbo plane as a stop-gap measure to tackle a shortage of…
Read MoreUS watching dark fleet ship-to-ship oil transfers in Asia waters
THE US is paying close attention to the ‘dark fleet’ of tankers carrying restricted oil and doing ship-to-ship transfers in South-east Asian waters, the State Department’s top energy official said. Countries in the region need to consider the risks these activities pose, Geoffrey Pyatt, assistant secretary for energy resources, said on the sidelines of the…
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