Posts by Stephanie Irvin
US: Wall Street ends higher as investors digest Trump trade comments
[BENGALURU] Wall Street ended higher on Friday (Oct 17) as investors assessed US President Donald Trump’s latest remarks on China, while quarterly results from regional banks eased concerns about credit risks. Trump said that his proposed 100 per cent tariff on goods from China would not be sustainable, but blamed Beijing for the latest impasse…
Read MoreBitcoin struggles to find momentum after historic wipeout
[SINGAPORE] After a week-long rout that erased hundreds of billions in digital-asset value, Bitcoin has again failed to live up to its billing as a safe harbour asset. Once cast as a hedge against market turmoil – a “digital gold” for the blockchain age – the original cryptocurrency stabilised on Friday (Oct 17) morning in…
Read MoreChinese data centre firm GDS aims to raise over US$1 billion for international unit DayOne: sources
GDS is aiming to build up DayOne into an independently run and separately listed unit in the mid to long term [HONG KONG/SINGAPORE] GDS Holdings, one of China’s largest data centre operators, is seeking to raise over US$1 billion in a new funding round for its international unit DayOne’s expansion, four people with knowledge of…
Read MoreFormer OCBC CEO Samuel Tsien appointed as new Jardine C&C independent chairman
[SINGAPORE] Jardine Cycle & Carriage has appointed former OCBC group chief executive officer Samuel Tsien as its new independent chairman, effective Nov 11. The 71-year-old, who is currently a lead independent director at Jardine C&C, will succeed chairman John Witt, the company said in a bourse filing on Wednesday (Oct 15) Witt, who is 61-years-old,…
Read MoreGoldman Sachs plans more job cuts to boost savings, leverage AI push
[NEW YORK] Goldman Sachs Group told staffers to expect an additional round of job cuts this year as the bank seeks further savings across its businesses and takes advantage of the opportunities presented by artificial intelligence. The New York-based firm said it would “constrain headcount growth through the end of the year” and is planning…
Read MoreWall St opens lower on US-China tensions; bank results pour in
[NEW YORK] Wall Street’s main indexes opened lower on Tuesday (Oct 14) with renewed trade tensions between US and China souring sentiment, while investors also parsed results from big US banks that kicked off the third-quarter earnings season. The Dow Jones Industrial Average fell 195.7 points, or 0.42 per cent, at the open to 45,871.89.…
Read MoreInstant IP Strategies for Inventors to Prevent Intellectual Property Risk
To create a new invention is a significant accomplishment, but such achievements are often swept aside by a lack of intellectual property (IP) protections. Inventors tend to rush the build, pitch, and publishing process, exposing their original concept to risk. The lack of a protection strategy opens new inventions to the risk of IP theft,…
Read MoreMorgan Stanley seeks to redeem cash from Jefferies’ Point Bonita fund, source says
[NEW YORK] Morgan Stanley’s asset management unit asked investment bank Jefferies to return some money it invested in the latter bank’s Point Bonita Capital fund, according to a person familiar with the situation. Point Bonita had a large exposure to bankrupt US auto-parts supplier First Brands. BlackRock and Texas Treasury Safekeeping Trust are among the…
Read MoreUS: S&P 500 ends down 2.7% after Trump warns of big China tariffs
[NEW YORK] Wall Street stocks tumbled Friday (Oct 10) after US President Donald Trump threatened “massive” tariffs on China, reviving trade war worries after months of improving relations between the countries. All three major US indices finished firmly lower, with the broad-based S&P 500 down 2.7 per cent at 6,552.51. The Dow Jones Industrial Average…
Read MoreTesla’s China shipments rise at start of busy sales season
The carmaker shipped 90,812 units from the plant last month, up 2.8% from a year earlier SHIPMENTS from Tesla’s Shanghai factory increased in September as China’s car market kicks off its busy sales period and automakers start their final push to meet annual targets. The carmaker shipped 90,812 units from the plant last month, up…
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