Posts by Stephanie Irvin
Air India said to be carrier behind mystery 85-jet Airbus order
The order for 75 A320neos single-aisle family aircraft and 10 A350 wide-body jets was placed in September Airbus received an order for an additional 85 planes from Air India, according to people familiar with the matter, as the carrier looks to accelerate its growth ambitions in one of the world’s fastest growing aviation markets. The…
Read MoreMalaysia’s Public Bank is said to consider buying late founder’s family stake in LPI
PUBLIC Bank said it is buying its late founder Teh Hong Piow’s family stake in the owner of Lonpac Insurance (LPI) for RM1.72 billion (S$524 million). Malaysia’s second-biggest lender by market value is paying in cash for the family’s 44.15 per cent interest in LPI Capital, it said in a bourse filing on Thursday (Oct…
Read MoreUniqlo owner Fast Retailing posts 31% rise in full-year profit, beats estimates
JAPAN’S Fast Retailing, owner of clothing brand Uniqlo, booked its third consecutive year of record earnings on Thursday (Oct 10), boosted by widened profit margins in its international segments. Operating profit rose 31 per cent to 500.9 billion yen (S$4.4 billion) in the 12 months through August from 381.1 billion yen a year earlier, the…
Read MoreNomura admits government bond manipulation to Japan regulator
NOMURA Holdings admitted to Japan’s financial regulator that it had manipulated the government bond futures market, following a probe by the securities watchdog into transactions three years ago. The country’s largest brokerage submitted a written statement recognising the violation, according to a notice on the Financial Services Agency’s (FSA) website. This comes after the Securities…
Read MoreMusk’s X back online to some Brazil users after suspension lifted
SOCIAL media giant X was available to some Brazilian users on Wednesday (Oct 9), one day after the country’s Supreme Court cleared billionaire Elon Musk’s platform to resume service for complying with court rulings. Brazil’s telecommunications regulator, Anatel, said on Wednesday that it has begun ordering Internet providers to allow users to access X again.…
Read MoreGold prices flat ahead of US inflation print
GOLD prices were little changed on Thursday (Oct 10), while traders await a key US inflation print due later in the day to gain further clarity of the Federal Reserve’s monetary policy stance. Spot gold was nearly flat at US$2,609.72 per ounce, as at 0040 GMT, after easing for the previous six sessions. Prices scaled…
Read MoreSingapore shares open higher on Thursday; STI up 0.5%
SINGAPORE shares began Thursday (Oct 10) trading in positive territory, mirroring gains in overseas bourses. As at 9.03 am, the Straits Times Index (STI) was up 0.5 per cent or 18.43 points at 3,614.09. Across the broader market, gainers outnumbered losers 94 to 23 after 61.6 million securities worth S$80.5 million changed hands. E-commerce retailer…
Read MorePowell’s half-point cut is hard to repeat with FOMC in no hurry
US FEDERAL Reserve chair Jerome Powell is unlikely to win another big interest-rate cut from his policy committee so long as the labour market holds up. Powell described the move as a recalibration aimed at making sure the labour market remained strong at his press conference after officials reduced the benchmark lending rate by a…
Read MoreOnline shopping returns to growth in Europe amid fierce competition
RECOVERING consumer confidence has boosted online shopping in Europe this year, industry group Ecommerce Europe said on Wednesday (Oct 9), while low-cost marketplaces such as PDD Holdings’ Temu have heightened competition. Inflation has hurt shoppers’ spending power around the world and helped fuel rapid growth in online platforms selling cheap products. In the United States,…
Read MoreRoche will boost in-China production for local market: CEO
ROCHE Holding will add manufacturing capacity in China to serve the country’s growing market, making it the latest pharmaceuticals giant to split some of its production as US-China trade rivalry intensifies. The Swiss company will manufacture more diagnostic products in China and increase production capacity for medicines, chief executive officer Thomas Schinecker said at…
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