Posts by Stephanie Irvin
Chick-fil-A announces 2025 Singapore launch in US$75 million Asia foray
AMERICAN fast food restaurant chain Chick-fil-A is opening its first restaurant in Singapore in late 2025, with plans to open two more outlets in the city state by the end of 2026. On Thursday (Oct 17), Chick-fil-A said its Singapore venture will mark its entry into Asia as well as the beginning of a 10-year,…
Read MoreBoeing hones US$15 billion financing plan to weather crises: sources
BOEING is closing in on a plan to raise around US$15 billion with common shares and a mandatory convertible bond as the jet maker bolsters finances worsened by a crippling strike, but the timing remains unclear, four sources familiar with the matter said. The company said on Tuesday (Oct 15) in regulatory filings that it…
Read MoreASML CEO sees slow chip recovery extending ‘well into 2025’
ASML Holding chief executive officer Christophe Fouquet said he expects the chip market’s long-awaited recovery will extend “well into 2025”, following disappointing third-quarter earnings that sparked a broad sell-off across the semiconductor industry. Slow recovery in demand has led to “customer cautiousness and some push-outs in their investments”, Fouquet said in a call with investors…
Read MoreEurope’s airlines dial up pressure in face of Chinese threat
AIR-FRANCE KLM is lobbying the French government to cap the number of flights that mainland Chinese carriers can make to Europe, according to sources familiar with the matter, in a bid to protect European airlines from unfair competition. The Paris-headquartered airline group’s requests may involve asking for a stay in the current air traffic rights…
Read MoreYeo Hiap Seng bumps up Vitasoy stake to 4% with HK$133.8 million share purchase
The move is to raise its exposure to the plant-based beverage industry in mainland China and Hong Kong YEO Hiap Seng has further acquired 21.1 million shares in Vitasoy for HK$133.8 million (S$22.5 million), bringing its total shareholding in the Hong Kong-listed beverage manufacturer to 4 per cent. On Thursday (Oct 17), the beverage manufacturer…
Read MoreBernard Arnault’s US$37 billion wealth loss comes as luxury dims in China
EIGHTEEN months ago, LVMH shares were trading at a record high and the group’s controlling shareholder, Bernard Arnault, was the world’s wealthiest person. Fast forward to Wednesday (Oct 16) and a slump in Chinese demand for Louis Vuitton bags, Dior gowns and other high-end fashion has wiped out more than 150 billion euros (S$214 billion)…
Read MoreDear UOL board: don’t stay a crouching tiger, unleash the hidden dragon in the stock
PROPERTY developer UOL Group has been making astute investments and executing well on various fronts of late. However, this good work may…
Read MoreUS: Wall Street opens flat after tech selloff
Wall Street’s main indexes were little changed at the open on Wednesday (Oct 16), as investors took a breather following a selloff in tech and oil stocks in the previous session. The Dow Jones Industrial Average fell 33.9 points, or 0.08 per cent, at the open to 42,706.49. The S&P 500 rose 1.3 points, or…
Read MoreChinese cyber association calls for review of Intel products sold in China
INTEL products sold in China should be subject to a security review, the Cybersecurity Association of China (CSAC) said on Wednesday (Oct 16), alleging the US chipmaker has “constantly harmed” the country’s national security and interests. While CSAC is an industry group rather than a government body, it has close ties to the Chinese state…
Read MoreMorgan Stanley profit exceeds forecasts on dealmaking surge; shares jump to record
MORGAN Stanley’s profit surpassed estimates on a bumper third quarter for investment banking that had also buoyed rivals, sending its stock to a record. A revival in corporate debt issuance, initial public offerings (IPOs) and mergers has bolstered profits for Wall Street banks this year. As markets hover near record highs and the US Federal…
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