Posts by Stephanie Irvin
Oil settle slightly up on forecasts for strong global demand
OIL prices edged up to settle slightly higher on Tuesday as the US Energy Information Administration (EIA) raised its global oil demand growth forecast for the year, while Opec stuck to its forecast for relatively strong growth in 2024. Brent crude futures rose 29 cents, or 0.4 per cent, to settle at US$81.92 a barrel, continuing a sharp…
Read MoreUS weighs more limits on China’s access to chips needed for AI
THE Biden administration is considering further restrictions on China’s access to chip technology used for artificial intelligence (AI), targeting new hardware that’s only now making its way into the market, sources familiar with the matter said. The measures being discussed would limit China’s ability to use a cutting-edge chip architecture known as gate all-around, or…
Read MoreTemu lures more repeat customers than EBay, pressures Amazon
LESS than two years after its US debut, Chinese e-commerce upstart Temu is attracting more repeat shoppers than eBay, an e-commerce pioneer that has been around for almost three decades. An April survey of 1,000 consumers found that 34 per cent of respondents buy something from Temu at least once a month, edging out eBay’s…
Read MoreCustomer refunds, business suspension send Cordlife S$11.6 million into the red in Q1
BELEAGUERED private cord-blood bank Cordlife Group : P8A 0% reported a net loss of S$11.6 million for the three months ended Mar 31, reversing a net profit of S$1.2 million in the corresponding quarter the year before. The group announced in a bourse filing on Tuesday (June 11) that its revenue was minus S$0.2 million…
Read MoreAlphaSense to acquire Tegus for US$930 million
MARKET intelligence and search platform AlphaSense will acquire Tegus, a primary research platform for institutional investors, for US$930 million. The acquisition is expected to introduce Tegus’ breadth of private company and financial data to AlphaSense’s artificial intelligence and search capabilities, it announced on Tuesday (Jun 11). Tegus provides a library of expert research, which includes…
Read MoreEuro drops to a one-month low; US dollar firms ahead of key inflation test
THE euro dropped to a one-month low on Tuesday (Jun 11), with political concerns weighing as investors shifted focus to US inflation data and Federal Reserve interest rate forecasts. The single currency had lost ground on Monday, pressured by investor fears that gains by eurosceptics in European elections and the calling of a snap French…
Read MoreSingapore stocks fall as macroeconomic concerns weigh; STI down 0.4%
SINGAPORE shares ended lower on Tuesday (Jun 11) as investors held their breath before the release of US consumer price index data as well as the Federal Reserve’s meeting this week. The benchmark Straits Times Index (STI) fell 0.4 per cent or 12.87 points to 3,309.21. Across the broader market, losers beat gainers 332 to…
Read MoreSingapore to trial battery swapping and mobile charging for electric heavy goods vehicles
SINGAPORE will begin trials for battery charging and swapping and mobile charging systems for electric heavy goods vehicles (e-HGVs) in the second half of 2024, said the Land Transport Authority (LTA) on Tuesday (Jun 11). Dr Amy Khor, Senior Minister of State for Sustainability and the Environment, as well as Transport, said in a social…
Read MoreApac M&A falls to 11-year low in first 5 months of 2024: London Stock Exchange
THE mergers and acquisitions (M&A) activity in the Asia-Pacific (Apac) region has declined 26 per cent year on year to an 11-year low of US$179 billion between January and May 2024, despite a rise in global M&A activity. This was dragged down by a 25 per cent decline in China M&A activity compared with the…
Read MoreGold edges lower as traders eye US inflation data, Fed meeting
GOLD inched lower on Tuesday (Jun 11) as investors awaited US inflation data and the Federal Reserve’s policy announcement later in the week, after a stronger-than-expected payrolls report on Friday. Spot gold was down 0.2 per cent at US$2,306.38 per ounce, as at 0109 GMT. US gold futures fell 0.2 per cent to US$2,323.00. Bullion…
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