Posts by Stephanie Irvin
BYD bets on Brazil agribusiness to drive hybrid pickup truck sales
BYD has launched its sixth model in Brazil this year, gambling that its hybrid pickup truck can take on the likes of Toyota Motor and Ford Motor in the Chinese carmaker’s latest endeavour for world domination. The company earlier this month made its 436-horsepower Shark hybrid pickup available for pre-order at 379,800 reais (S$87,032).…
Read MoreBoeing to book more than US$1 billion in wage-related costs from new labour proposal, analysts forecast
BOEING is expected to book more than US$1 billion in wage-related expenses from its proposed labour contract, analysts said. About 33,000 workers will vote on the contract proposal on Wednesday (Oct 23), after work stopped for more than a month. Production of models, including its best-selling 737 Max narrow-body jets, has halted. The vote also…
Read MoreStrong US economy and ‘Trump trades’ boost greenback
THE US dollar climbed on Monday (Oct 21) and cryptocurrency Bitcoin hit a three-month high as a rise in US bond yields and the looming presidential election continued to impact markets. Currency moves last week were driven by the European Central Bank’s dovish rate cut and strong US data that scaled back expectations for how…
Read MoreJAB to buy Mondelez’s stake in JDE Peet’s for 2.16 billion euros
Shares in JDE Peet’s, which also announced a new chief executive, rose as much as 16% Investor JAB agreed to acquire Mondelez International’s stake in coffee maker JDE Peet’s for 2.16 billion euros (S$3.07 billion). JAB, which manages the billionaire Reimann family’s money, said it will buy 86 million shares in JDE Peet’s for 25.10…
Read MoreSembcorp inks deal to produce green hydrogen with Indonesia’s PLN
The facility in Sumatra will churn out 100,000 metric tonnes of green hydrogen a year SEMBCORP Industries said on Monday (Oct 21) that its wholly owned subsidiary, Sembcorp Utilities, is partnering with Indonesian government-owned electricity producer PLN’s sub-holding company, PLN Energi Primer Indonesia, on a green hydrogen production facility. The facility, to be sited in…
Read MoreEnterpriseSG, EDB to launch sustainability reporting grant in November
ENTERPRISE Singapore (EnterpriseSG) and the Singapore Economic Development Board (EDB) will launch the sustainability reporting grant (SRG) on Nov 1 to help companies produce their first International Sustainability Standards Board’s (ISSB)-aligned sustainability report in Singapore before mandatory reporting takes effect. The initiative will support Singapore-incorporated companies impacted by or those who are preparing for mandatory…
Read MoreSanofi enters exclusive talks with CD&R for Opella sale
Sanofi said on Monday (Oct 21) it had entered exclusive talks for the sale of a 50 per cent controlling stake in its consumer health business Opella to US private equity firm Clayton Dubilier & Rice (CD&R). The French pharmaceutical company, which is joining a growing number of drugmakers shedding consumer related businesses, said its…
Read MoreABS partnership outlines best practices for anti-money laundering audits in banks
THE Association of Banks in Singapore (ABS) has launched Singapore’s first industry-led best practice paper to enhance anti-money laundering/countering the financing of terrorism (AML/CFT) audits in banks. This was done in partnership with the Anti-Money Laundering Audit Peer Group (AAPG), an industry-led group established in October 2022 to facilitate AML/CFT audit best practices in Singapore’s…
Read MoreBitcoin flirts with US$70,000 after US$2.4 billion inflow into ETFs
BITCOIN pushed higher on Monday (Oct 21) as a spurt of inflows into exchange-traded funds (ETFs) for the largest digital asset as well as optimism about the outlook for US regulations lifted sentiment. The cryptocurrency rose about 1 per cent as of 8.30 am in Singapore to close in on US$70,000, a level last seen…
Read MoreChina traders bet PBOC will keep yuan in hand even if Trump wins
CHINA’S domestic yuan traders appear to be more confident than their offshore counterparts that the currency’s turbulence will be contained around the US presidential election period. A gauge of one-month implied volatility for the onshore yuan based on options is trading near the largest discount since 2022 to a similar measure for its offshore counterpart,…
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