Posts by Stephanie Irvin
Nvidia retail craze unleashes big moves in the world of ETFs
FROM the growth of get-rich-quick schemes to becoming a make-or-break factor for outperformance, Nvidia’s latest market roller coaster is a cautionary tale of the importance of the artificial intelligence (AI) chip-maker in the US$9.2 trillion US exchange-traded fund (ETF) complex. Nvidia’s meteoric rise has spurred a more-than-2,000 per cent spike in assets of a product…
Read MoreNike forecasts dour annual revenue on weak demand for its sneakers
NIKE on Thursday (Jun 27) forecast a surprise drop in fiscal 2025 sales, after disappointing fourth-quarter sales laid bare the company’s weakening market share and its faltering direct-to-consumer strategy. Shares of the company were down 12 per cent in extended trading after Nike also forecast a wider-than-expected drop in first-quarter revenue. The company’s efforts to…
Read MoreUS: Wall Street closes subdued as investors sit, wait for inflation data
US STOCKS ended on Thursday (Jun 27) around the unchanged mark as investors awaited fresh inflation data, with the Nasdaq able to eke out a slight gain after data showed a continued slowdown in economic activity, raising investors’ hope for rate cuts. “The market is in a bit of a holding pattern here for the…
Read MoreLloyds CEO expects £300 million UK business banking revenue boost
LLOYDS Banking Group is set to make an extra £300 million (S$515.2 million) a year in revenue by 2026 from its business banking unit, CEO Charlie Nunn said on Thursday (Jun 27), as corporate confidence picks up in Britain despite challenges. The British bank’s Business and Commercial Banking (BCB) unit, which serves firms with up…
Read MoreMAS ropes in global industry associations for asset tokenisation project
THE Monetary Authority of Singapore (MAS) has roped in global industry associations for its project to pilot promising asset tokenisation use cases. It is also planning to develop standards, market practices and governing principles of foundational digital infrastructure for tokenised assets. In a statement on Thursday (Jun 27), MAS said that the Global Financial Markets…
Read MoreMicron’s sell-off highlights risk of sky-high AI expectations
US CHIPMAKER Micron Technology post-results sell-off sent a fresh reminder to global investors about the risks inherent in bets on artificial intelligence (AI) chipmakers. Days after leading AI chipmaker Nvidia slumped by about US$500 billion, Micron shares fell about 8 per cent in extended trading, after the memory maker offered a forecast that fell short…
Read MoreChinese-owned chipmaker Nexperia invests US$200 million in European expansion
NEXPERIA, one of the world’s largest makers of basic semiconductors such as diodes and transistors, said on Thursday (Jun 27) it would invest US$200 million to expand capacity at its main production site in Hamburg, Germany. The investment by Dutch-headquartered Nexperia, owned by Chinese electronics maker WingTech, is a rare example of a computer…
Read MoreSingapore stocks buck regional declines on Thursday; STI up 0.4%
On the index, ST Engineering is the biggest gainer while Seatrium is the biggest decliner SINGAPORE stocks ended higher on Thursday (Jun 27), tracking gains on Wall Street but bucking declines elsewhere in Asia. The benchmark Straits Times Index (STI) gained 0.4 per cent or 11.65 points to 3,343.35. Across the broader market, losers outnumbered…
Read MoreH&M casts doubt over margin target as June sales drop, shares fall
H&M cast doubt over its full-year profit margin target on Thursday (Jun 27) after missing quarterly earnings forecasts and predicting a fall in June sales, sending shares in the world’s second-largest listed fashion retailer down almost 14 per cent. The Swedish company said that sales this month are likely to fall 6 per cent in…
Read MoreAscott announces key appointments in global expansion move
THE Ascott has announced six key appointments in the functions of business development, strategy, and operations. On Thursday (Jun 27), the lodging business unit of CapitaLand Investment said the move will support its global expansion in management and franchise contracts, as well as catalyse strategic growth. This comes as Ascott charts a new growth trajectory…
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