Posts by Stephanie Irvin
Asia: 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,…
Read MoreSIA Group passenger traffic rises 10.2% in May
SINGAPORE Airlines (SIA) Group reported a 10.2 per cent year-on-year increase in passenger traffic in May 2024, as demand for air travel remained robust. During the month, Singapore Airlines and Scoot carried 3.2 million passengers in total, 14.3 per cent higher than a year ago, the group said on Tuesday (Jun 18) as it reported…
Read MoreSingtel-KKR consortium to invest S$1.75 billion in data centre provider ST Telemedia GDC
A SINGTEL-KKR consortium will be investing S$1.75 billion in data centre provider ST Telemedia Global Data Centres (STT GDC), in a deal said to be this year’s largest digital infrastructure investment in South-east Asia so far. The initial S$1.75 billion investment by the consortium will be via redeemable preference shares with detachable warrants, KKR said on…
Read MoreKKR-Singtel consortium to invest S$1.75 billion in data centre provider ST Telemedia GDC
A KKR-SINGTEL consortium will invest S$1.75 billion in data-centre provider ST Telemedia Global Data Centres (STT GDC), in a deal said to be this year’s largest digital infrastructure investment so far in South-east Asia. The initial S$1.75 billion investment by the consortium will be via redeemable preference shares with detachable warrants, global investment firm KKR said…
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