Posts by Stephanie Irvin
Gold 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…
Read MorePaytm is in talks with Zomato to sell movie, ticketing business
PAYTM is in talks to sell its movie and ticketing business to Zomato, as the Indian fintech pioneer seeks to unload non-core assets and revive sales hurt by a regulatory crackdown. The fintech firm is considering a potential transfer of its entertainment business but has yet to enter into any binding agreements, the company officially…
Read MoreSouth Korea’s Air Incheon is preferred bidder for Asiana cargo unit
South Korean budget airline Air Incheon is the preferred bidder to buy Asiana Airlines’ cargo business, Korean Air said on Monday, paving the way for a final go-ahead from the EU competition regulator of a Korean Air-Asiana merger. Korean Air, South Korea’s biggest carrier, is set to purchase nearly two-thirds of Asiana for about US$1.4…
Read MoreCrunch time for Great Eastern’s minorities
MINORITY shareholders of Great Eastern have some tough decisions to make in the days and weeks ahead. After the market closed on Friday (Jun 14), OCBC said its offer price of S$25.60 per share for Great Eastern is final, and that the closing date for the offer had been extended to Jul 12. The…
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