Posts by Stephanie Irvin
Gold struggles for momentum as investors focus on US jobs data
GOLD prices were little changed on Thursday (Sep 5) as investors stayed away from making big bets ahead of US payrolls data that could provide further clues on the size of an expected rate cut this month. Spot gold was unchanged at US$2,494.54 per ounce, as at 0054 GMT. US gold futures were little changed…
Read MoreSingapore’s holidaymakers toast strongest dollar in a decade
IT’S been more than a decade since Singapore’s dollar was last this strong against its US counterpart, and the effects are being felt by everyone from importers and exporters to shoppers and tourists. The exchange rate touched the highest level since 2014 on Aug 26, not long after Prime Minister Lawrence Wong highlighted the importance…
Read MorePhiladelphia Fed says it is looking for Harker successor
THE Federal Reserve Bank of Philadelphia said on Wednesday it is launching a search to replace its current leader, Patrick Harker, who will retire next summer. “We will run an open and inclusive nationwide search including broad input” from the Philadelphia Fed district, Anthony Ibarguen, CEO of Quench USA and chair of the Philadelphia Fed‘s board of directors, said…
Read MoreLondon Metal Exchange aims to boost monthly prices in shift from 147-year history
THE London Metal Exchange (LME) is planning measures to boost electronic trading in its monthly contracts, a move that may reduce activity in its unique three-month rolling contracts that serve as a benchmark for the global metals industry. The measures – including a requirement for dealers to place small trades in monthly contracts electronically –…
Read MoreCrude futures settle down by more than US$1/bbl on demand fears
CRUDE futures fell by more than US$1 a barrel on Wednesday in see-saw trading, with traders worried about demand in coming months as crude producers offered mixed signals about supply increases. Brent crude futures settled down US$1.05, or 1.42 per cent, to US$72.70 a barrel. US West Texas Intermediate crude futures settled down US$1.14, or…
Read MoreLogitech founder fails in attempt to oust chairperson
LOGITECH International founder Daniel Borel on Wednesday (Sep 4) failed in his attempt to oust Chairperson Wendy Becker, having accused her of failing to provide leadership at the maker of computer mice and keyboards. Just under 86 per cent of shareholders voted for the re-election of Becker at the company’s annual general meeting in Lausanne,…
Read MoreUber kicks off its first bond sale as investment-grade firm
UBER Technologies is tapping the US investment-grade bond market for the first time since it attained blue-chip status. The ride hailing service is looking to sell the bonds in as many as three parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield 1.6…
Read MoreIntel manufacturing business suffers setback as Broadcom tests disappoint
Intel’s contract manufacturing business has suffered a setback after tests with chipmaker Broadcom failed, three sources familiar with the matter told Reuters, dealing a blow to the company’s turnaround efforts. The tests conducted by Broadcom involved sending silicon wafers – the foot-wide discs on which chips are printed – through Intel’s most advanced manufacturing process…
Read MoreUS antitrust trial targets Google’s digital ad business
ALPHABET’S Google faces trial in a second antitrust case next week where the US Department of Justice will challenge how the search giant monetises advertising through a system that prosecutors say harms news publishers. The case is part of the Biden administration’s effort to rein in Big Tech through antitrust law, and follows a major…
Read MoreIHH Healthcare plans RM3.9 billion cash purchase of Penang’s Island Hospital, expects it to be EPS accretive in 2026
IHH says Island Hospital will add 600 beds and yield potential synergies, given that it will be running 3 hospitals on the island INTEGRATED healthcare provider IHH Healthcare’s indirect wholly-owned subsidiary Pantai is proposing to fully acquire Island Hospital in Penang, Malaysia, for RM3.9 billion (S$1.17 billion) in cash, the group announced on Wednesday (Sep…
Read More