Posts by Stephanie Irvin
Japan e-comics platform Infocom to decide on Blackstone takeover offer
JAPANESE digital comic distributor Infocom will announce its board’s decision on a takeover bid from Blackstone once all its disclosure documents are ready, the company said on Tuesday (Jun 18). Infocom was responding to a report in the Nikkei newspaper that Blackstone had reached a final agreement to acquire Infocom, priced at around 6,000 yen…
Read MoreBitcoin touches a one-month low in a broad crypto market sell-off
BITCOIN touched a one-month low as outflows from digital-asset investment products and the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market. The largest digital asset shed as much as 2.7 per cent on Tuesday (Jun 18), reaching a level last seen in mid-May, before paring the drop to trade at US$65,740 as at…
Read MoreBitcoin drops to a one-month low in broad crypto market sell-off
BITCOIN slid to a one-month low as outflows from digital-asset investment products and the prospect of higher-for-longer US borrowing costs sapped the cryptocurrency market. The largest digital asset at one point fell as much as 2.7 per cent on Tuesday (Jun 18) and was trading at about US$65,300 as at 10:26 am in Singapore. Smaller…
Read MoreGold prices edge higher as US Treasury yields soften
GOLD prices inched up on Tuesday (Jun 18) as the Treasury yields edged lower, while investors looked forward to economic data and comments from Federal Reserve officials throughout the week for clarity on the US central bank’s interest rate cut timeline. Spot gold was up 0.1 per cent at US$2,320.60 per ounce, as at 0120…
Read MoreSeche Environnement to buy Singapore hazardous waste firm ECO for S$605 million
FRENCH industrial group Seche Environnement has agreed to buy Singapore’s ECO Industrial Environmental Engineering for around S$605 million, according to a statement by the company dated Monday (Jun 17). The group is buying the Singaporean hazardous waste company from Beijing Capital Eco-Environment Protection Group, according to the statement. Reuters reported earlier this month that the…
Read MoreBoeing CEO to tell US Congress planemaker’s culture is ‘far from perfect’
BOEING CEO Dave Calhoun will tell a US Senate committee on Tuesday that the planemaker understands concerns about its safety culture after a January mid-air emergency involving an Alaska Airlines 737 MAX 9 raised widespread alarm. “Much has been said about Boeing’s culture. We’ve heard those concerns loud and clear. Our culture is far from perfect,…
Read MoreGameStop shares tumble after CEO says store network will shrink
SHARES of GameStop tumbled on Monday after CEO Ryan Cohen told investors that the videogame retailer plans to operate a smaller network of stores, but did not provide details on what it intends to do with its cash pile. GameStop shares were down 11.6 per cent at US$25.38 on Monday afternoon after the annual general…
Read MoreOil jumps, settles at highest in over a month on demand optimism
OIL prices surged nearly US$2 a barrel on Monday to their highest settlement levels in over a month, adding to last week’s gains as investors grew more optimistic on the demand outlook. US West Texas Intermediate crude futures gained by US$1.88, or 2.4 per cent, to settle at US$80.33 a barrel, the highest since the…
Read MoreChina EV makers: Who’s ahead in the race so far?
BYD, the China electric vehicle (EV) brand that unseated Tesla as the global leader in the green vehicle market in 2023, might not be much affected by the upcoming hike in European Union tariff, according to analysts from Citi.
Read MoreTesla sues ex-supplier over EV battery trade secrets
TESLA has sued its former supplier Matthews International in California federal court for allegedly stealing trade secrets related to Tesla’s battery-manufacturing process and sharing them with the electric-vehicle (EV) giant’s competitors. The lawsuit, filed on Friday (Jun 14) in US District Court for the Northern District of California, said Matthews owes damages that Tesla “conservatively…
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