Posts by Stephanie Irvin
7-Eleven owner confirms new takeover offer from Couche-Tard
The Japanese owner of 7-Eleven said on Wednesday (Oct 9) it had received a “revised” takeover offer from Canadian rival Alimentation Couche-Tard after rejecting an initial bid worth around US$40 billion. 7-Eleven is the world’s biggest convenience store chain and has more than 85,000 outlets worldwide, around a quarter of those in Japan. Seven &…
Read MoreChina markets warn Xi that more stimulus is needed to fuel rally
EVER since President Xi Jinping sought to draw a line under China’s slowdown last month, investors have clamoured for him to back up monetary easing with a powerful fiscal stimulus to help fuel one of the nation’s biggest stock rallies in years. But those who hoped to get an answer on Tuesday (Oct 8) were…
Read MoreStocks to watch: Singtel, Clas, Keppel, Digital Core Reit, Frasers Hospitality Trust
THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 9): Singtel: Business and emergency services hotlines, including those of hospitals and the Singapore Civil Defence Force (SCDF), could not be reached for several hours on Tuesday due to an islandwide disruption involving Singtel’s telecommunications network. Shares of the…
Read MoreCrypto.com sues US SEC after receiving legal threat from regulator
CRYPTO.COM filed a lawsuit against the US Securities and Exchange Commission (SEC) on Tuesday (Oct 8), alleging that the federal agency is overstepping its jurisdiction by regulating the cryptocurrency industry. The crypto trading platform said its move follows the receipt of a “Wells notice” from the top US markets regulator on the grounds that tokens…
Read MoreTelcos should face tougher regulations to ensure service standards amid Smart Nation push
SINCE the government announced in February 2024 that it would invest up to S$100 million to upgrade Singapore’s Nationwide Broadband Network to run on speeds up to 10 gigabits per second (Gbps), telcos have taken heed and offered faster speeds for lower prices. To qualify for the funding, the Infocomm Media Development Authority (IMDA)…
Read MoreHonda leaves door open to revise EV strategy
HONDA Motor said it’s open to altering its electrification roadmap if demand for pure battery cars continues to wane, a sign the Japanese automaker may ultimately join international peers in walking back electric vehicle targets. “There’s enough room to adjust the time line of establishing EV factories globally and change our strategy should things…
Read MoreGold and coffee boost September hedge fund returns: Societe Generale
GOLD and coffee helped to deliver trend-following hedge funds a positive result in September, a Societe Generale note showed on Tuesday (Oct 8), thanks to record commodities prices, rising equities and falling interest rates. Gold has surged almost 30 per cent this year to a record high on Sep 26. The precious metal has been…
Read MoreUS: Wall Street rises as focus turns to inflation data, earnings
Wall Street’s main indexes opened higher on Tuesday (Oct 8), regaining some ground after a selloff in the previous session, as investors turned their focus to the start of the third-quarter earnings season and key inflation data later this week. The Dow Jones Industrial Average rose 68.4 points, or 0.16 per cent, at the open…
Read MoreChina’s BYD wants to build cars in India, but has no ‘direct’ signal of investment rules easing
CHINA’S BYD wants to make cars in India but has received no “direct” signal from New Delhi on a possible easing of stringent investment rules for Chinese businesses, a top executive said, as the automaker seeks to expand in a fast-growing market. BYD, in partnership with a local firm, submitted a US$1 billion investment proposal…
Read MoreGIC weighs sale of US$5 billion stake in India’s Greenko, sources say
Prospective investors include infrastructure-focused funds, sovereign wealth funds and other energy companies GIC has been considering options for its 50 per cent stake in India’s Greenko Energy, including a possible sale that could be worth around US$5 billion, sources said. The Singaporean sovereign wealth fund is in initial discussions with financial advisers to help evaluate…
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