Posts by Stephanie Irvin
Volkswagen cuts forecast on Audi plant closure, additional expenses
VOLKSWAGEN (VW) lowered its margin outlook for the year, citing costs related to a potential Audi plant closure in Belgium after disappointing demand for some electric vehicles (EVs) and other unplanned expenses. The German carmaker reduced its guidance to as much as 7 per cent, down from a previously predicted high of 7.5 per cent,…
Read MoreUS dollar gains as Fed’s Powell cautious on rate cuts
THE US dollar gained on Tuesday (Jul 9) after Federal Reserve chair Jerome Powell acknowledged progress in inflation, but did not give a clear signal that the US central bank is close to cutting interest rates. Powell said that inflation “remains above” the US Federal Reserve’s 2 per cent target, but has been improving in…
Read MorePositive H2 seen for Chinese stocks as Internet and platform companies drive growth: Bank of Singapore
CHINESE equities are expected to be supported by corporate earnings recovery in the second half of 2024 as macroeconomic conditions recover, the Bank of Singapore (BOS) said in its outlook for H2 on Tuesday (Jul 9). Corporate earnings started showing signs of positive earnings revision momentum since May, with MSCI China’s expected 2024 earnings per…
Read MoreDisney to add new ship in Tokyo to expanding cruise business
WALT Disney unveiled plans on Tuesday (Jul 9) to launch a new cruise ship that will set sail from Tokyo starting in fiscal 2028, adding a ninth vessel to the brand’s growing fleet. The new ship, to be modelled after the Wish that is the largest vessel in the group, is a partnership with Oriental…
Read MoreSingapore container ship logjam spills over to Malaysian port
The maritime logjam is caused by ships avoiding the Suez Canal and Red Sea due to attacks by Houthi rebels Container ship congestion in Singapore, one of Asia’s busiest ports, is spreading to neighbouring Malaysia, snarling supply chains and causing delays in the movement of consumer goods. Around 20 container vessels are anchored in a…
Read MoreTemasek returns to black with one-year total shareholder return of 1.6% for FY2024
TEMASEK turned in a one-year total shareholder return (TSR) of 1.6 per cent for the financial year ended March 31, reversing the previous year’s negative showing. However, the recovery was hampered by the weak China market. The figures were unveiled on Tuesday (Jul 9) at the launch of the annual Temasek Review, which covers…
Read MoreNet-zero goals: Talk is cheap if Singapore corporates lack a road map
A SIZEABLE number of Singapore companies want to hit net-zero emissions by 2050. But such talk is empty if not accompanied by realistic strategies, with real accountability if companies fail to meet their promises. A study released on Monday (Jul 8) showed that over 70 per cent of Singapore-listed companies valued above S$1 billion –…
Read MoreHonda to end vehicle production at one of its Thai auto plants
HONDA Motor will halt vehicle production at its factory in Ayutthaya province in Thailand by 2025 as it plans to consolidate its output under the plant it runs in Prachinburi province, the Japanese automaker said on Tuesday (Jul 9). The move highlights the tougher conditions Japan’s second-biggest automaker faces in the South-east Asian nation as…
Read MoreBanks to start phasing out OTPs for account logins in fight against scams
Customers will have to use their tokens for bank account logins either via the browser or the mobile banking app MAJOR retail banks in Singapore will begin phasing out the use of One-Time Passwords (OTPs) for account login by digital token users within the next three months. Customers who have activated their digital tokens on…
Read MoreTop Thai budget carrier expects 2024 core profit to hit record
ASIA Aviation, owner of Thailand’s biggest low-cost airline, expects record earnings from core operations this year as a surge in overseas visitors boosts seat demand and airfares. Thai AirAsia, the company’s 100-owned budget airline unit, also intends to add more flights to China and India to capitalise on a boom in travel from its two…
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