Posts by Stephanie Irvin
China’s BYD opens EV factory in Thailand, first in South-east Asia
[RAYONG, THAILAND] Chinese automaker BYD on Thursday (Jul 4) opened its first overseas production plant in Thailand – the company’s first in South-east Asia – with the aim of doubling down on its status as the country’s dominant EV player. “Thailand has a clear EV vision and is entering a new era of auto manufacturing.…
Read MoreHot stock: Yoma rises over 9% on trading volume surge
The counter has been actively transacted this week, ending Wednesday at a significant volume of 142.5 million SHARES of Yoma Strategic advanced steadily to reach its highest level in the year amid heavier-than-usual trading activity on Thursday (Jul 4) morning. As at 9.30 am, the Myanmar-focused conglomerate rose S$0.015 or 9.6 per cent to S$0.172…
Read MoreGlobal markets on alert for Joe Biden exit as Donald Trump-win trades mount
THE red-hot Washington debate over whether President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the US dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office. The recalibration of portfolios kicked off at the end of…
Read MoreFederal Reserve officials at last meeting saw price pressures in decline: minutes
US FEDERAL Reserve officials at their last meeting acknowledged the US economy appeared to be slowing and that “price pressures were diminishing,” but still counselled a wait-and-see approach before committing to interest rate cuts, according to minutes of the two-day session held on June 11-12. The minutes, which were released on Wednesday, noted in particular…
Read MoreJensen Huang cashes in on Nvidia’s rally with US$169m share sale
NVIDIA chief executive officer Jensen Huang unloaded shares worth nearly US$169 million in June, the most he has netted in a single month, as the insatiable demand for the chips used to power artificial intelligence drove the stock to fresh peaks. The sale of 1.3 million shares, his first of the year, came during a…
Read MoreJeff Bezos to sell US$5 billion of Amazon shares after stock hits record high
AMAZON founder and executive chair Jeff Bezos is planning to sell almost US$5 billion worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday (Jul 2). The stock had…
Read MoreAI frenzy expected to have boosted Samsung Q2 profit 13-fold
SAMSUNG Electronics is expected to post a 13-fold increase in second-quarter profit from a year earlier as demand for artificial intelligence technology fuels a rebound in memory chip prices. Operating profit for the world’s biggest maker of memory chips, smartphones and TVs likely rose to 8.8 trillion won (S$8.6 billion) in the quarter ended June…
Read MoreECB is working to ease significant risk transfers for banks
THE European Central Bank (ECB) is planning to make it easier for banks to use a popular type of credit insurance in a move that could ultimately allow them to make more loans. The watchdog and the European Banking Authority (EBA) are working on a proposal to simplify reporting requirements for lenders seeking approval for…
Read MoreADNOC weighs possible bid for Australian gas company Santos
Abu Dhabi National Oil Company (ADNOC) is in the preliminary stages of exploring a possible bid for Australian gas supplier Santos, two people with knowledge of the plans said, speaking on condition of anonymity. Santos, which supplies natural gas and LNG, had been in merger talks with Woodside Energy to create a US$52 billion global…
Read MoreUS: S&P 500, Nasdaq extend gains, closing at records again
THE S&P 500 and Nasdaq again finished at fresh records on Wednesday, extending a positive run following mixed economic data in a quiet holiday-shortened session. US private-sector hiring came in a bit below expectations for June, while a report from the Institute for Supply Management showed a surprise contraction in services industry activity. Markets are…
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