Posts by Stephanie Irvin
Busiest IPO week since 2021 mints US$4 billion for 6 newcomers
[NEW YORK] The initial public offering (IPO) market kicked into high gear this week, with sextet of deals raising more than US$4 billion in the busiest period since 2021. While five of the six initial public offerings worth at least US$290 million priced above their marketed ranges, subsequent performances were mostly uninspiring – a sign of…
Read MoreWhy The National Anthem Still Matters Today
Recently, I found myself reflecting on the opening lines of our national anthem. “Oh, say can you see by the dawn’s early light, what so proudly we hailed at the twilight’s last gleaming.” These words, written over 200 years ago, still resonate with me in profound ways. As an entrepreneur who has built and sold…
Read MoreOpenAI to share 8% of its revenue with Microsoft, partners, The Information reports
[BENGALURU] OpenAI has projected that by the end of the decade it will be sharing about 8 per cent of its revenue with commercial partners, namely Microsoft, down from the current 20 per cent, The Information reported on Friday (Sep 12). The difference between those figures adds up to more than US$50 billion in additional…
Read MoreDrugmakers fall on report US to claim Covid shot killed kids
[WASHINGTON] Vaccine makers’ shares fell after a report that US President Donald Trump health officials plan to link Covid shots to the deaths of around two dozen children in a presentation to advisers to the Centers for Disease Control and Prevention (CDC) next week. The Washington Post reported Friday (Sep 12) that a group of…
Read MoreGunvor hires Singapore specialists as it expands precious metals business into physical trading
[LONDON] Global commodity trading house Gunvor is expanding its precious metals business from trading derivatives into physical metal and has hired specialists in the London and Singapore trading hubs, the company told Reuters. Gunvor’s expansion in the sector coincides with a rally that has seen gold prices rise twofold since late 2022, as investors sought…
Read MoreSeatrium loses appeal to block US$126.6 million rig contract payment
The group will continue with arbitration to resolve dispute and seek recovery of payment [SINGAPORE] Seatrium on Friday (Sep 12) said its appeal in the Singapore court to block a US$126.6 million standby letter of credit payment related to a rig contract with a customer has been dismissed. The offshore and marine energy solutions company…
Read MoreECB policymakers keep rate options open amid uncertain outlook
Another cut is entirely possible, says French central bank governor Francois Villeroy [FRANKFURT] European Central Bank (ECB) policymakers were keeping their options open on Friday (Sep 12) about possible future interest rate cuts, flagging an uncertain outlook for trade, energy prices and foreign exchange rates. The European Central Bank left interest rates unchanged on Thursday…
Read MoreIn surprise twist, Armani’s will instructs heirs to gradually sell fashion brand or seek listing
The late designer has left instructions for a 15% stake to be sold within 18 months [MILAN] Late designer Giorgio Armani in his will instructed heirs to gradually sell the fashion brand he created 50 years ago or seek a stock market listing, marking a surprising turn for a company highly protective of its independence…
Read MoreJapan’s Nikkei ends at record high as chip-related shares gain on Wall Street boost
[TOKYO] Japan’s Nikkei share average ended at a closing high for a second straight session on Friday (Sep 12), as chip-related stocks tracked Wall Street’s strong finish overnight. The Nikkei rose 0.89 per cent to 44,768.12, after gaining as much as 1.16 per cent to a record intraday high of 44,888.02 earlier in the session.…
Read MoreSGX to launch index that tracks non-STI listcos: Chee Hong Tat
The STI comprises the 30 largest companies by market capitalisation, but represents only a portion of SGX’s listed companies [SINGAPORE] The Singapore Exchange (SGX) will be launching an index that tracks listed companies that are not constituents of the Straits Times Index (STI), as part of the regulator’s efforts to showcase its broader equity market,…
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