Posts by Stephanie Irvin
Activist Starboard Value takes stake in Starbucks, WSJ reports
ACTIVIST investor Starboard Value has a stake in Starbucks the Wall Street Journal reported on Friday (Aug 9), adding that it wants the coffee giant to take steps to improve its stock price. Starbucks shares were up 3.2 per cent in extended trading. The size of the hedge fund’s stake in the company is not…
Read MoreUS: Stocks rally, cutting into week’s losses
WALL Street stocks rallied Thursday (Aug 8) after better employment data, extending a period of volatility and significantly cutting into the week’s losses. Initial US jobless claims declined compared with the prior week, easing concerns somewhat of a possible US recession after last week’s monthly employment data sparked unease. “We are seeing value investors show…
Read MoreWall Street bonus watcher says some payouts will jump up to 35%
AFTER two lacklustre years, Wall Street bonuses are poised to jump in virtually every sector of the industry, with debt underwriting likely to be the biggest winner. Bankers who help companies sell debt may see payouts swell as much as 35 per cent, as deals pick up and capital markets rebound from multiyear lows, according…
Read MoreSingLand H1 net profit falls 38% to S$103.7 million on lower fair-value gain
SINGAPORE Land Group (SingLand) reported a 38 per cent fall in net profit to S$103.7 million for the six months ended Jun 30, from S$168.4 million in the year-ago period. This was mainly due to a sharp decline in fair-value gain on subsidiaries’ investment properties for the period, which amounted to S$5.3 million, down from…
Read MoreApac Realty H1 net profit falls 18.7% to S$4.1 million
PROPERTY group Apac Realty, which operates under the ERA brand, posted an 18.7 per cent drop in net profit to S$4.1 million for the six months ended Jun 30, down from S$5 million in the year-ago period. This was mainly due to cost of services outpacing revenue growth in the period. Earnings per share for…
Read MoreDBS’ incoming CEO should make light of filling big shoes and grow the next leadership core
Winning over the confidence of stakeholders is tough when one succeeds a long-serving, highly regarded and charismatic leader DBS has done a good job of smoothly handling the thorny issue of leadership succession. It speaks well of the bank’s succession planning that the group chose an internal candidate who has served in various roles for…
Read MoreAbu Dhabi’s Etihad Airways reports surge in first-half profit
ETIHAD Airways reported a 48 per cent increase first-half profit on Thursday (Aug 8), helped by an increase in passenger and cargo revenue, ahead of possible stock market listing of the Abu Dhabi carrier. The airline, which over the past seven years has gone through a massive restructuring, including overhauling its management, reported a profit…
Read MoreTuan Sing sinks into the red with S$6.6 million loss in H1
PROPERTY group Tuan Sing reported on Thursday (Aug 8) a net loss of S$6.6 million for the half-year ended June, as compared with a net profit of S$6 million in H1 last year. This loss was mainly due to lower profit contribution from Link@896 due to its asset-enhancement works, as well as operating costs incurred…
Read MoreSouth Korea to hold emergency meeting after EV fires raise safety concerns
SOUTH Korea’s environment ministry said on Thursday (Aug 8) it plans to hold an emergency meeting next week to discuss fires involving electric vehicle (EVs), including a blaze that caused extensive damage, and draw up measures to prevent such incidents. The ministry said the land and industry ministries will join Monday’s meeting as well as…
Read MoreRobinhood 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…
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