Posts by Stephanie Irvin
SingPost appoints financial adviser for strategic review of Australia businesses
This is part of the national postal service provider’s plans to achieve scale in the country SINGAPORE Post (SingPost) announced on Friday (Jun 21) that it appointed Merrill Lynch Markets Australia the day prior as a financial adviser to its board. SingPost said that the adviser will work with its board to “formulate optionalities for…
Read MoreEurope: Shares rise after Swiss rate cut, Bank of England decision
EUROPEAN shares advanced on Thursday with broad-based gains as markets tracked a global upbeat sentiment, while shares of British, Swiss and Norwegian stocks were in focus after their respective central bank decisions. The pan-European Stoxx 600 ended up 0.9 per cent to hit a week’s high, led by a 1.8 per cent rise in technology…
Read MoreBMW cancels 2 billion euros battery cells contract with Northvolt
German premium carmaker BMW said on Thursday (Jun 20) it had cancelled a two billion euros (S$2.9 billion) order for battery cells for its electric vehicles with Northvolt. German media, including manager magazin, reported that the Swedish company could not deliver on time on a long-term supply contract for battery cells signed in 2020. “Northvolt…
Read MoreDollar rises, pound, Swiss franc drop on busy central bank day
The dollar climbed on Thursday (Jun 20), while the Swiss franc and the pound dropped as a busy day of central bank meetings kept currency traders alert. The dollar index, which tracks the currency against six peers, was last up 0.2 per cent at 105.42 after a volatile 10 days that has seen mixed signals…
Read More🚽 A guide to not crying in the office toilet: Regulating emotions at work
💢 Emotional outbursts happen At what was supposed to be a mundane weekly meeting, a friend of mine got so worked up over a passing comment from his boss that he remembers it to this day. He had just presented a progress report on a project when his boss casually said – in front of…
Read MoreSwiss financial regulations not yet tough enough post-Credit Suisse, central bank says
SWITZERLAND’S financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank (SNB) said on Thursday (Jun 20), pressing for more to be done on capital and liquidity requirements. Credit Suisse roiled financial markets last year when it collapsed following a string of financial problems, and was absorbed by…
Read MoreRupee hits record low, hurt by likely outflows, importer dollar demand
A broadly stronger dollar, along with weakness in the Chinese yuan, also pressured the Indian currency The Indian rupee fell to a record low on Thursday (Jun 20), pressured by likely outflows and strong dollar demand from local importers. The currency declined to a lifetime low of 83.6650 against the US dollar in the latter…
Read MoreBank of Japan warns of potential hit to lenders from rising rates
Japanese financial institutions’ profitability has decreased significantly in the past 25 years, making them vulnerable to potential losses from any sharp rises in interest rates, the central bank said on Thursday (Jun 20). While many companies increased long-term, fixed-rate loans to take advantage of Japan’s ultra-low interest rates, some have suffered sluggish profits, the BOJ…
Read MoreSingapore startup Carro first to tap US$1 billion HSBC Asean Growth Fund
The S$75 million multi-currency loan diversifies Carro’s funding channel, particularly in Malaysia SINGAPORE startup Carro announced on Thursday (Jun 20) that it signed a S$75 million multi-currency loan with HSBC, making the home-grown company the first to tap HSBC’s Asean Growth Fund of US$1 billion. The loan will be used to fund Genie Financial Services,…
Read MoreGuzman Y Gomez shares jump 37% in biggest Australian IPO this year
MEXICAN food chain Guzman Y Gomez served up Australia’s best initial public offering debut in three years with its shares leaping more than one-third on their first trading day on Thursday (Jun 20), sending an upbeat signal about investor sentiment. The Sydney startup’s stock began trading at A$29.90 at midday local time (0200 GMT),…
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