Posts by Stephanie Irvin
US FTC set to greenlight Chevron’s US$53 billion buy of oil rival Hess: sources
THE US Federal Trade Commission (FTC) is expected to greenlight US oil producer Chevron’s purchase of Hess as soon as this week, two sources familiar with the matter said, leaving ExxonMobil’s challenge to the US$53 billion deal as its final hurdle. The proposed merger was first announced last October, and the FTC sent a second…
Read MoreDHL Group targets 50% jump in revenue by 2030 with new strategy
DEUTSCHE Post, which trades as DHL Group, announced a new strategy aimed at boosting revenue by 50 per cent by 2030 through a raft of growth initiatives. The German logistics company said it would pivot its businesses towards areas such as specialised delivery of scientific and new energy goods, markets that are expected to grow…
Read MoreUS SEC, Coinbase clash in court over crypto rulemaking
COINBASE and the US securities regulator faced off in a federal appeals court in Philadelphia on Monday (Sep 23) as the cryptocurrency exchange pressed the agency to create new rules for digital assets. Coinbase, the largest US crypto exchange, sued the Securities and Exchange Commission (SEC) last year in an effort to compel the regulator…
Read MoreEurope: Shares end higher as markets bet on more ECB policy easing
EUROPEAN shares closed higher on Monday as a soft business activity reading strengthened the case for more monetary policy easing by the European Central Bank this year, with rate-sensitive sectors such as real estate and utilities rising. The pan-European Stoxx 600 index closed 0.4 per cent higher, recouping some losses following its biggest one-day drop since August in…
Read MoreUS: Dow, S&P 500 finish at fresh records
THE Dow and S&P 500 pushed to fresh records on Monday, extending a positive stretch in anticipation of more central bank easing. Analysts pointed to a boost after China’s central bank cut its 14-day lending rate, a move that comes on the heels of last week’s largest interest rate cut by the US Federal Reserve.…
Read MoreQualcomm’s potential Intel buyout could raise antitrust, foundry concerns
A POTENTIAL deal to buy Intel could accelerate Qualcomm’s diversification, but will burden the smartphone chipmaker with a loss-making semiconductor manufacturing unit that it may struggle to turn around or sell, analysts said. A buyout will also face tough antitrust scrutiny globally as it would unite two crucial chip companies in potentially the sector’s biggest…
Read MoreEuro drops as glum PMI readings stoke bets on more ECB easing
THE euro fell against the US dollar on Monday (Sep 23) as business activity readings painted a grim picture of the eurozone economy and fuelled bets on more interest rate cuts by the European Central Bank (ECB) this year. The currency dropped 0.4 per cent to US$1.1122, recovering from losses of as much as 0.7…
Read MoreTemasek turns 50: key milestones
Major events in the state investor’s storied history
Read MoreMAS orders Qoo10 to stop payment services in Singapore
THE Monetary Authority of Singapore (MAS) has directed Singapore-headquartered e-commerce platform Qoo10 to suspend its provision of payment services locally from Sep 23. This comes after the authorities received several merchant complaints between April and August this year against the platform for delays in processing payments. The company was asked to address the complaints,…
Read MoreEVs to get boost from extended incentives, but hybrids could suffer from emission rebate cut
Even as changes show Republic’s commitment to electric vehicles, some say that hybrids are still relevant RECENT tweaks to two clean-vehicle schemes show Singapore’s commitment to electric vehicles (EVs) – but possibly at the expense of hybrids, pointed out industry players. Authorities said last Friday (Sep 20) that the EV Early Adoption Initiative (EEAI) will…
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