Posts by Stephanie Irvin
Top Glove swings back into the black with RM50.7 million profit for Q3
MALAYSIAN glove maker Top Glove Corporation on Wednesday (Jun 19) reported a net profit of RM50.7 million (S$14.5 million) for the third quarter ended May 31, 2024, reversing from a loss of RM130.6 million in the previous year. This was driven by stronger glove demand as customers replenished their glove inventories after clearing excess stock,…
Read MoreFerrari’s first electric car to cost at least 500,000 euros: source
FERRARI’S first electric car will cost at least 500,000 euros (S$725,145), a source familiar with the matter said, as the luxury automaker prepares to open a plant that will make the model – and could boost group production by up to a third. The Italian brand, famed for its roaring petrol engines, has said it…
Read MoreJapan lays groundwork to sell shorter debt as Bank of Japan eyes rate hike
JAPAN must create an environment where government bonds remain an attractive investment for financial institutions, such as by issuing shorter-duration debt, a finance ministry panel is likely to say in a draft proposal reviewed by Reuters. The proposal highlights how the Bank of Japan’s (BOJ) exit in March from its radical stimulus is prodding the…
Read MoreAsia: Most markets advance after latest Wall Street record
EQUITIES rose across most of Asia on Wednesday following yet another record day in New York fuelled by data that boosted US interest rate cut hopes, though expectations were tempered by cautious comments from Federal Reserve officials. The below-forecast May retail sales figures pointed to signs of fatigue among American consumers – a crucial driver…
Read MoreBayer looks to AI to combat herbicide resistance faster
BAYER’S crop science division is increasingly turning to artificial intelligence (AI) in its battle against crop killing weeds, the company said. Weeds are growing resistant to the herbicides already on the market, and agribusiness companies such as Bayer are in a desperate search for new modes of action to help farmers kill them. Bayer’s Icafolin…
Read MoreJapan’s regional banks are pressured to cut cross-shareholdings
SOME of Japan’s regional banks are coming under pressure at their annual general meetings (AGMs) to show progress in cutting their cross-shareholdings. Institutional Shareholder Services, a US voting advisory firm, has recommended that Kyoto Financial Group president Nobuhiro Doi be denied a new term because of the bank’s holdings in major customers. Kyoto Financial…
Read MoreBoeing CEO recognises ‘gravity’ of safety crisis but sees ‘progress’
BOEING’S CEO acknowledged to a US congressional panel on Tuesday that the company’s culture was imperfect, but insisted the aviation giant was making progress and committed to improving safety. “Our culture is far from perfect, but we are taking action and making progress,” Calhoun said early in the hearing. Calhoun opened his remarks by standing…
Read MoreTrump Media sinks as SEC declaration may dilute existing holders
TRUMP Media & Technology Group sank in late trading after the US Securities and Exchange Commission (SEC) declared effective a regulatory filing that could dilute shareholders. The long-awaited clearance lets investors in the firm’s derivatives, known as warrants, swap their holdings for shares in the company which can dilute long-time investors. The social media company…
Read MoreEurope: Shares advance as French political concerns subside
EUROPEAN shares closed higher on Tuesday, supported by a slip in government bond yields as investor concern over French political woes ebbed, with the focus shifting to data and policymakers’ comments to gauge global central banks’ monetary policy path. The pan-European Stoxx 600 closed nearly 0.7 per cent up, with utilities leading sectoral gains, up 1.5 per…
Read MoreFord plans further job cuts in Europe, German works council says
FORD plans further job cuts in Germany, Spain and the UK, the head of the worker’s council for the US automaker in Germany told Reuters on Tuesday (Jun 18). It is unclear how many additional job cuts are foreseen in Germany under the new restructuring plan, which comes on top of a previous restructuring programme,…
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