Posts by Stephanie Irvin
Blackstone to Acquire Australia’s AirTrunk in A$24 billion deal
Blackstone has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (S$21.02 billion), including debt and capital expenditure for committed projects. The New York-based alternative asset manager, along with Canada Pension Plan Investment Board, is buying AirTrunk from Macquarie Group and PSP Investments, according to a statement on…
Read MoreNippon Steel seeks to allay concerns on US takeover
Nippon Steel says Americans will form the majority of US Steel’s board of directors Japan’s Nippon Steel said on Wednesday (Sep 4) US Steel will “remain a US company” with a majority of the board being American citizens, as it seeks to overcome opposition to its proposed US$14 billion takeover. The mooted deal has become…
Read MoreEngine parts shortage could keep Cathay A350 jets out for longer
CATHAY Pacific Airways may not be able to put all of its Airbus A350 aircraft back into service as quickly as hoped due to a spare parts shortage, according to a source familiar with the matter. The carrier has taken several jets out of service in recent days after an engine component failure on one…
Read MoreRate panel backs Bank of Thailand on inflation as government eyes reset
Rate-setters say flexible target range will play crucial role in maintaining medium-term price stability THAILAND’S central bank is right in persisting with an inflation target range of 1 to 3 per cent, according to its rate panel, a stance likely to ratchet up the tension with a government keen on a higher band to create…
Read MoreAsia: Markets plunge with Wall Street after Nvidia rout, weak US data
TECH firms led a plunge across Asian markets on Wednesday after a rout on Wall Street fuelled by a collapse in chip titan Nvidia and disappointing data on US factory activity that revived recession fears. The sight of investors running to the hills sparked memories of the brief but tumultuous sell-off at the start of…
Read MoreChina’s grey market is dominating luxury brands’ online sales
CHINA’S grey market – where brand new, authentic products are sold at steep discounts – is increasingly dwarfing some global luxury giants’ official sales channels in the country’s dominant e-commerce space, according to a new report. For high-end outdoor wear labels Moncler and Canada Goose, sales for some of their most popular products were 2.5…
Read MoreGold steady as US payrolls data takes centre stage
GOLD prices held steady on Wednesday (Sep 4) as investors braced for a monthly US payrolls report that could influence the size of a likely interest rate cut this month. Spot gold held its ground at US$2,493.62 per ounce, as at 0025 GMT. US gold futures edged 0.1 per cent higher to US$2,524.90. The US…
Read MoreSIA checking Rolls-Royce engines in A350 planes after Cathay cancels dozens of flights
SINGAPORE Airlines (SIA) said on Tuesday (Sep 3) it is inspecting the Rolls-Royce Trent XWB-84 engines in its fleet of A350-900 planes as a precaution after Hong Kong’s Cathay Pacific Airways identified an engine component failure on one of its flights. There is currently no impact on Singapore flights operating with the A350-900. Cathay Pacific…
Read MoreUS safety commissioners call for investigation into Shein, Temu
TWO leaders of the US Consumer Products Safety Commission are calling for the agency to investigate e-commerce retailers Shein and Temu after “deadly baby and toddler products” were sold on both websites, according to a letter posted on the US CPSC website on Tuesday. US CPSC Commissioners Peter Feldman and Douglas Dziak want the agency…
Read MoreTesla gets outsold in Spain by upstart Chinese car brand Omoda
CHERY Automobile’s Omoda outsold Tesla, Jeep and Fiat in Spain last month, a promising sign for the Chinese automaker’s ambitious push into Europe. Omoda sold 744 new cars in Spain last month, a 8,167 per cent increase over the nine cars registered in August of last year, according to Spain’s Anfac. Its models include the…
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