Posts by Stephanie Irvin
J&J to pay as much as US$1.7 billion for heart-tech firm V-Wave
Johnson & Johnson will pay as much US$1.7 billion for V-Wave, bolstering its development efforts to treat heart failure as it goes deeper into medical technology. J&J will pay US$600 million up front and as much as US$1.1 billion in additional payments for hitting business goals, according to a statement on Tuesday (Aug 20). The…
Read MoreTesla to get lower EU tariff on its Chinese-made EVs
THE European Union has slashed its planned extra tariff on Tesla electric vehicles imported from China by more than half, the bloc’s executive said on Tuesday (Aug 20). The European Commission also revised its proposed punitive duties on imports of Chinese-made EVs in draft findings in the highest profile EU investigation of alleged Chinese subsidies,…
Read MoreAustralia central bank signals rates will stay at 12-year high for ‘extended period’
AUSTRALIA’S central bank will likely need to hold interest rates at their current 12-year high for an “extended period” to ensure that inflation returns to its target band next year, in a strong signal that policy easing remains some way off. Minutes of the Reserve Bank of Australia’s (RBA) Aug 5 to 6 meeting released…
Read MoreGoPro to cut 15% of workforce in restructuring push
ACTION camera maker GoPro said on Monday (Aug 19) it would cut about 15 per cent of its workforce this year, as part of a restructuring plan to reduce operating expenses. The company expects to take charges in the range of US$5 million to US$7 million for the restructuring plan, with cash expenses of US$1…
Read MoreStocks to watch: Keppel, Japfa
THE following companies saw new developments that may affect trading of their securities on Tuesday (Aug 20): Keppel: The asset manager on Tuesday inked a memorandum of understanding with the Asian Development Bank and Enterprise Singapore to explore US$800 million worth of energy transition and environmental sustainability opportunities in the Asia-Pacific. Shares of Keppel closed S$0.04…
Read MoreECB’s Rehn says growth risks bolster case for September cut
INCREASING risks to Europe’s growth outlook have reinforced the case for a policy adjustment when the European Central Bank (ECB) meets next month, according to Governing Council member Olli Rehn. “In my view, the recent increase in negative growth risks in the euro area has reinforced the case for a rate cut at the next…
Read MoreSaudi wealth fund’s returns boosted by global markets rally
SAUDI Arabia’s sovereign wealth fund said returns rose last year driven by local investments and gains on its international portfolio. The Public Investment Fund’s (PIF) annualised returns since 2017 rose to 8.7 per cent, compared with 8 per cent a year earlier, according to an annual report published on Monday (Aug 19). Performance was boosted…
Read MoreSoft landing bets for US economy lift investor sentiment; STI up 0.1%
STI constituent Hongkong Land leads the gain, up 3.2%; Yangzijiang Shipbuilding is at the bottom, down 2.3% SINGAPORE shares rose on Monday (Aug 19), amid expectations of a soft landing for the US economy, after Federal Reserve members flagged the possibility of easing monetary policy over the weekend. The benchmark Straits Times Index (STI) rose…
Read MoreThailand’s Ratanarak Group buys out Jardine Cycle’s Siam City stake for US$354 million
Its controlling shareholder, Sunrise Equity, which is part of the Ratanarak Group made an offer for 76.1 million shares in Siam City for 160 baht apiece The Ratanarak Group, which operates Thailand’s Siam City Cement, has raised its stake in the cement maker by buying out Singapore-based Jardine Cycle & Carriage’s 25.54 per cent stake…
Read MoreSingtel partners Bridge Alliance to offer GPU-as-a-Service in South-east Asia
AIS in Thailand, Malaysia’s Maxis and Telkomsel in Indonesia are among the early adopters of the offering SINGTEL and Bridge Alliance – a mobile alliance with 35 member operators globally – announced a partnership on Monday (Aug 19) that will take the telco’s GPU-as-a-Service (GPUaaS) offerings to enterprises across South-east Asia once it is launched…
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