Posts by Stephanie Irvin
New York Sun owner nears £550 million deal for Telegraph: FT
THE owner of the New York Sun is close to acquiring the UK’s The Daily Telegraph newspaper for more than £550 million (S$942 million), according to the Financial Times (FT). Dovid Efune is poised to enter exclusive talks with current owner RedBird IMI, the FT reported, citing three sources familiar with the matter. Discussions between…
Read MoreUS FAA authorises SpaceX Falcon 9 vehicle for Monday flight
SPACEX’S workhorse Falcon 9 rocket can return to flight for a mission planned for Monday (Oct 7) to launch the European Space Agency’s Hera spacecraft from Florida, the US Federal Aviation Administration (FAA) said on Sunday. Elon Musk’s company, which has engaged in a public quarrel with the FAA in recent weeks, said on Sunday…
Read More‘Panic buying’ of Chinese stocks weighs on crypto’s most-traded token
ONE of the best measures for gauging demand for cryptocurrencies suggests that some Chinese investors are shifting away from digital assets and back to the nation’s surging stock market. While China banned crypto trading in 2021, many mainland residents have continued to use overseas accounts and exchanges to buy and sell digital currencies, in…
Read MoreFinancial services enabler BNY aims to ride Asian growth
There are multiple opportunities for the bank as it provides solutions across a spectrum THE development of economies and markets around Asia is expected to help BNY Mellon grow in the region, given its role as an enabler for financial services. The bank is focused on providing solutions that can help markets operate efficiently and…
Read MoreUS dollar’s best week in 2 years sends currency peers tumbling
The US dollar is having its best week since 2022. Geopolitical unrest, the odds of lower borrowing costs overseas and a resilient US economy are all spurring the world’s reserve currency higher. The Bloomberg Dollar Spot Index rose 1.6 per cent last week, its best performance since September 2022 – when the Federal Reserve was…
Read MoreUS dollar’s best week in 2 years sends currency peers tumbling
The US dollar is having its best week since 2022. Geopolitical unrest, the odds of lower borrowing costs overseas and a resilient US economy are all spurring the world’s reserve currency higher. The Bloomberg Dollar Spot Index rose 1.6 per cent last week, its best performance since September 2022 – when the Federal Reserve was…
Read MoreS-Reits log best quarterly performance since 2020 with double-digit returns in Q3
IMPROVED investor sentiment over the path of interest rates fuelled a strong rally in Singapore-listed real estate investment trusts (S-Reits) during the third quarter of 2024, with the sector logging one of its best quarters on record. The FTSE ST Reit Index rose 13.6 per cent to 714.76 points for the three months ended September…
Read MoreHair loss drug probed in Europe over link to suicidal thoughts
EUROPE’S medicines regulator has started a review of whether a drug used to treat male balding can be linked to suicidal thoughts and behaviours. The European Medicines Agency’s (EMA) review of finasteride, which is available as both a pill and a solution that can be applied directly to the skin, follows concerns being raised…
Read MoreUS: Wall Street opens higher after strong payrolls data
Wall Street’s main indexes opened higher on Friday (Oct 4) after a crucial labour report eased concerns about a rapid cooldown in the jobs market, while investors remained vigilant for potential escalations in the Middle East conflict. The Dow Jones Industrial Average rose 236.7 points, or 0.56 per cent, at the open to 42,248.26. The…
Read MoreTiger-backed TrueLayer loses unicorn status in fundraising round
TRUELAYER, a fintech backed by Tiger Global and Stripe, has seen its valuation slashed by roughly 30 per cent in its latest funding round, according to a person familiar with the matter. The move comes just weeks after the company began reducing headcount to shore up profitability, the person said, asking not to be named…
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