Posts by Stephanie Irvin
P&G misses quarterly sales estimates on weakening demand in US, China
PROCTER & Gamble missed Wall Street expectations for first-quarter sales on Friday (Oct 18), as consumers in its major markets, the US and China, switched to cheaper household and personal care brands. An uncertain economy in the US has pushed customers mainly from the lower income group to hunt for products at the cheapest price…
Read MoreUK proposes easing banker bonus rules to boost competitive edge
SENIOR British bankers will be able to cash in bonuses up to three years sooner under proposals unveiled by the Bank of England on Thursday (Oct 18), as it pushes ahead with reforming tough credit crisis-era rules to boost competition. One year after British regulators scrapped a decade-long cap on banker bonuses, BOE deputy governor…
Read MoreFuji Soft board supports KKR buyout offer: Nikkei
THE board of Japan’s Fuji Soft has decided to stick with a 558.4 billion yen (S$4.9 billion) buyout offer from KKR, the Nikkei newspaper said on Friday (Oct 18), despite having received a higher counter-offer from Bain. The board is expected to announce its opinion on Bain’s bid at a later date, the Nikkei said. …
Read MoreChina approves BNP Paribas, Prudential insurance ventures
CHINA has approved separate insurance units to be set up by BNP Paribas and Prudential Financial, a regulator said on Friday (Oct 18), as it looks to further open up the world’s second-largest insurance market to foreign companies. China’s National Financial Regulatory Administration (NFRA) has approved the creation of a joint venture between BNP and…
Read MoreBank of America eyes share in US$300 billion Philippines FX market
BANK of America on Thursday (Oct 17) started its foreign-exchange (FX) service in the Philippines, with officials saying they are looking to get a share of the annual onshore currency business of about US$300 billion in the South-east Asian nation. “We do think we will be able to get a pretty good market share of…
Read MoreChina kicks off 800 billion yuan funding schemes to support stock market
CHINA’S central bank kicked off two funding schemes on Friday (Oct 18) that will initially pump 800 billion yuan (S$147.6 billion) into the stock market through newly-created monetary policy tools. The People’s Bank of China (PBOC) spelt out operational details of the swap and re-lending schemes first announced in late September, aiming to support “steady…
Read MoreChina rolls out 800 billion yuan funding schemes to bolster stock market
CHINA’S central bank kicked off two funding schemes on Friday (Oct 18), that will initially pump as much as 800 billion yuan (S$147.6 billion) into the stock market through newly-created monetary policy tools. The People’s Bank of China (PBOC) spelt out operational details of the swap and relending schemes first announced in late September, aiming…
Read MoreAsia: Markets swing as China economic growth slows
ASIAN markets fluctuated on Friday (Oct 18) after China posted its weakest economic growth in a year and a half, as gold prices hit a record high and following a tepid lead from Wall Street. Investors have been clamouring for Beijing to deliver more concrete plans for the country’s stuttering economy since last month’s slew…
Read MoreStar Entertainment reverses course a day after Sydney casino relief
AUSTRALIAN troubled casino operator Star Entertainment reversed its course to drop on Friday (Oct 18) as trading resumed a day after New South Wales gaming regulator said the embattled firm would be able to keep its Sydney casino open. The New South Wales Independent Casino Commission on Thursday decided not to revoke the firm’s license…
Read MoreSingapore shares open higher on Friday; STI up 0.1%
SINGAPORE shares started trading in positive territory on Friday (Oct 18), mirroring overnight gains in the Europe market. As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 3.07 points higher at 3,628.32. Across the broader market, gainers outnumbered losers 53 to 51, after 41.6 million securities worth S$55.3 million changed…
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