Posts by Stephanie Irvin
Horizon Robotics seeks US$696 million in Hong Kong IPO, would be city’s largest in 2024
CHINESE autonomous driving firm Horizon Robotics is aiming to raise up to US$696 million in a Hong Kong initial public offering, as the city’s listings market shows signs of renewed activity after a nearly two-year slump. The company will sell 1.36 billion shares in a price range of HK$3.73 to HK$3.99 each, according to the…
Read MoreSingapore stocks track regional losses on Wednesday; STI down 0.1%
Across the broader market, gainers outnumber losers 288 to 233, as 1.5 billion securities worth S$1.2 billion change hands SINGAPORE shares ended marginally lower on Wednesday (Oct 16), tracking losses elsewhere in the region. The benchmark Straits Times Index (STI) was down 0.1 per cent or 4.85 points at 3,590.62. Across the broader market, gainers…
Read MoreBoeing to raise up to US$25 billion as strike weighs on finances
US AIRCRAFT manufacturer Boeing unveiled measures meant to replenish its cash flow on Tuesday (Oct 15), including an intention to raise up to US$25 billion, as it navigates recurrent production problems and a major US strike. In a regulatory filing, the aviation giant indicated plans to raise the funds by selling stock and debt. It…
Read MoreSingapore shares open higher on Wednesday; STI up 0.2%
SINGAPORE stocks began Wednesday (Oct 16) trading in positive territory, despite overnight losses in markets abroad. As at 9.01 am, the Straits Times Index (STI) rose 0.2 per cent or 7.84 points to 3,603.31. Across the broader market, gainers and losers stood equal at 54 after 53.8 million securities worth S$59.3 million changed hands. Food…
Read MoreQualcomm said to wait for US election to decide Intel move
QUALCOMM is likely to wait until after the US presidential election in November before deciding whether to pursue an offer to buy Intel Corp, people familiar with the matter said. San Diego-based Qualcomm wants greater clarity on the new occupant of the White House before deciding its next move because of the impact any future…
Read MoreLVMH third-quarter sales fall 3% as China weighs
FRENCH luxury giant LVMH reported a 3 per cent fall in third-quarter sales on Tuesday (Oct 16), its first decline in quarterly sales since the pandemic, as rising prices and economic uncertainty held back shoppers. Revenue for the world’s biggest luxury group was 19.08 billion euros (S$27.2 billion) for the three months ending in September,…
Read MoreApple launches new iPad mini with AI features
APPLE on Tuesday (Oct 15) launched its new generation of the iPad mini packed with AI features including writing tools and an improved Siri assistant, as the iPhone maker races to boost its devices with artificial-intelligence capabilities. The new iPad mini is powered by Apple’s A17 Pro chip, which is used in the iPhone 15…
Read MoreCitigroup profit drops on bigger stockpiles for potential loan losses
Citigroup’s profit fell 9 per cent in the third quarter as it set aside more money to cover loans that may not be repaid, particularly on credit cards. The third-largest US lender’s net income dropped to US$3.2 billion, or US$1.51 per share, compared with US$3.5 billion, or US$1.63 per share, a year earlier, it reported…
Read MoreUS dollar steady near two-month high as markets weigh policy outlook
THE US dollar was perched near it highest in more than two months against major currencies on Tuesday (Oct 15), spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term. A string of US data has shown the economy to be resilient, while inflation in September rose slightly more…
Read MoreSingapore ranks second in Apac for ESG bonds issuance in H1 2024: MSCI
THE growing prominence of labelled bonds in global bond benchmarks in H1 2024 suggests that these bonds are growing faster than the wider bond market, said MSCI following research on green, social and sustainability labelled bonds. In a report, the investment research company noted a net addition of US$350 billion in the first half of 2024…
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