Posts by Stephanie Irvin
Robinhood results beat estimates on meme-stock, crypto-trading boom
ROBINHOOD beat Wall Street expectations for second-quarter earnings on Wednesday, as interest in meme stocks and cryptocurrencies soared, and said it continued to gain retail trading market share from rivals. The app, typically associated with mom-and-pop investors, saw a surge in trading volumes as meme-stock influencer Keith Gill returned to social media and reignited interest…
Read MoreFive things to know about DBS’ CEO-designate Tan Su Shan
Tan leads day-to-day efforts to operationalise the bank’s digitalisation strategy across the businesses she runs DBS announced the appointment of Tan Su Shan as its deputy chief executive officer, the bank said in a bourse filing on Wednesday (Aug 7). Tan is currently the bank’s head of institutional banking, and she will succeed Piyush Gupta…
Read MoreChina’s July rare earths exports up as regulatory uncertainty spurs demand
CHINA’S exports of rare earth minerals rose 2.24 per cent in July from June, customs data showed on Wednesday (Aug 7), as uncertainty over the country’s new regulations for the market spurred buying. The world’s largest producer of rare earths last month shipped 4,937 tonnes of the 17 minerals used to make products ranging from…
Read MoreBreaking: DBS appoints Tan Su Shan as deputy CEO, to succeed CEO Piyush Gupta in March 2025
DBS announced Wednesday (Aug 7) that the board had appointed Tan Su Shan as deputy CEO, in addition to her present role as group head of institutional banking. She will succeed Piyush Gupta as CEO when he retires at the next annual general meeting on Mar 28, 2025.
Read More‘Board decision was unanimous’: DBS appoints Tan Su Shan as deputy CEO, to succeed CEO Piyush Gupta in March 2025
DBS announced Wednesday (Aug 7) that the board has appointed Tan Su Shan as deputy CEO, in addition to her present role as group head of institutional banking. She will succeed Piyush Gupta as CEO when he retires at the next annual general meeting on Mar 28, 2025. Tan, 56, has more than 35 years of…
Read MoreSingapore banks see wealth fees surge as rich step up trading
SINGAPORE’S biggest banks are reaping benefits from the rich’s appetite to shift assets and trade in the Asian wealth hub, which have boosted the lenders’ earnings. DBS Group Holdings saw fees from wealth management jump 37 per cent to S$518 million, faster than the growth from lending income, South-east Asia’s largest lender said on Wednesday…
Read MoreWaymo to expand autonomous ride-hailing service areas in Los Angeles, San Francisco
ALPHABET’S Waymo is expanding its autonomous ride-hailing service areas in San Francisco and Los Angeles to cater to growing demand from customers, the company said on Tuesday (Aug 6). The announcement comes as rivals such as General Motors and Amazon.com’s Zoox are investing heavily in driverless cars to drive commercial success, even as regulatory scrutiny…
Read MoreCathay Pacific nearing deal to buy dozens of widebody aircraft
CATHAY Pacific Airways is close to announcing a plan to buy dozens of twin-aisle aircraft and is favouring European planemaker Airbus in the decision, according to sources familiar with the matter. The Hong Kong-based carrier is leaning towards Airbus to provide the long-range aircraft, though rival Boeing could still seal a last-minute deal for its…
Read MoreCathay Pacific to buy 30 Airbus A330-900 aircraft
CATHAY Pacific will buy 30 Airbus A330-900 wide-body aircraft, with options to buy another 30, the Hong Kong-based airline said on Wednesday (Aug 7). Delivery is expected by the end of 2031, the airline said. The planes will replace existing aircraft and will fly regionally within Asia, with the option to be used on longer-haul…
Read MoreBanks poised to seize more buildings in Hong Kong, PwC says
BANKS are expected to take more enforcement actions on distressed buildings amid Hong Kong’s property market downturn, according to PricewaterhouseCoopers (PwC). That’s based on the estimate of the firm’s partner Christopher So, whose team oversees a portfolio of real estate under receivership valued at more than HK$10 billion (S$1.7 billion). “Lenders tend to give borrowers…
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