Posts by Stephanie Irvin
ExxonMobil expects third-quarter earnings were hit by lower oil prices
A SLUMP in oil prices probably reduced ExxonMobil’s third-quarter upstream earnings by US$600 million to US$1 billion, the oil major signalled in a regulatory filing published on Thursday (Oct 3). Oil prices fell by 17 per cent in the third quarter, the largest quarterly decline in a year, on worries about the global oil demand…
Read MoreWill ESR-Logos Reit cash in on buying interest in short-lease hospitality assets?
Even if the price fetched is below the end-2023 valuation, it may be worthwhile for the Reit to strike a deal for its hotel and convention centre next to Expo MRT station PROPERTY investors seem to have become more receptive to buying Singapore hospitality and commercial properties on short-land-tenure sites over the past year. This…
Read MoreUS: Wall St opens lower with jobs data, Middle East conflict in focus
Wall Street opened lower on Thursday (Oct 3) after a moderate rise in jobless claims sparked worries about the health of the labour market, while cautious investors kept an eye on the Middle East for any escalation in hostilities. The Dow Jones Industrial Average fell 97.0 points, or 0.23 per cent, at the open to…
Read MoreANZ, Gunawan family consider selling control of Indonesia’s Panin Bank: sources
AUSTRALIAN lender ANZ and Indonesia’s Gunawan family are considering selling a combined controlling interest in Jakarta-listed Bank Pan Indonesia (Panin Bank), in which they each hold substantial stakes, three sources with knowledge of the matter said. The Gunawan family, which founded the bank in 1971, would be open to paring down their own 46.52 per…
Read More☠️ Is your workplace discriminatory or toxic? We ask an employment lawyer
🙅 “The vibes are off” is not enough Nearly one in three young adults has witnessed or experienced discrimination at the workplace, according to a recent survey by The Straits Times and market research company Kantar. This is a worrying statistic. It’s common to come across casual comments or behaviour which seem “off” at work,…
Read MoreBrokers’ take: Maybank upgrades Mapletree Industrial Trust to ‘buy’ on Japan acquisition
Price target has been raised to S$2.60 from S$2.15 to account for a lower risk-free rate of 2.75 per cent versus 3 per cent previously MAYBANK Securities has upgraded its call on Mapletree Industrial Trust (MIT) to “buy” from “hold” after its manager announced its planned acquisition of a freehold mixed-use property in Tokyo for…
Read MoreWith phase one Singapore expansion in the bag, US-listed KLA aims to add another 400 jobs in next phase
SEMICONDUCTOR process control and yield management solutions provider KLA expects to complete the second phase of its expansion in Singapore by 2026. The company is also expecting to add an estimated 30 per cent, or 400 new employees, to KLA’s local workforce when the site is completed. It currently has about 1,500 employees. The announcement…
Read MoreSingapore shares open higher on Thursday; STI up 0.2%
SINGAPORE shares began Thursday (Oct 3) trading in positive territory, after global markets had mixed performances. As at 9.02 am, the Straits Times Index (STI) rose 8.75 points or 0.2 per cent to 3,593.42. Across the broader market, gainers outnumbered losers 87 to 37 after 65.9 million securities worth S$76 million changed hands. Oil exploration…
Read MoreCrypto asset manager Bitwise files for XRP ETP with securities regulator
CRYPTO asset manager Bitwise has filed an initial registration statement with the US Securities and Exchange Commission (SEC) for an exchange-traded product (ETP) for XRP tokens, as it seeks to introduce more crypto products after a landmark regulatory decision to approve spot Bitcoin exchange-traded fund (ETF) earlier this year. Bitwise earlier this year was among…
Read MoreToyota pushes production of first US-made electric SUV into 2026
TOYOTA Motor is delaying the production start for its first US-made electric vehicle (EV) until 2026, but says it plans to sell as many as seven all-EVs in the US within the next two years. The Japanese carmaker initially targeted late next year to begin output of a three-row, battery-powered SUV at an assembly plant…
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