Posts by Stephanie Irvin
China’s Nio says commitment to Europe EV market ‘unwavering’ despite tariff increase
CHINESE electric vehicle maker Nio strongly opposes the European Union’s use of increased tariffs as a strategy to obstruct the normal global electric vehicle trade but its commitment to Europe’s EV market is unwavering, it said on Wednesday (Jun 12). Nio “will continue to serve our users and explore new opportunities within Europe despite protectionism”,…
Read MoreUniper wins 13 billion euros arbitration ruling against Gazprom
GERMAN utility Uniper has won a multi-billion euro arbitration against former long-time supplier Gazprom, it said on Wednesday (Jun 12), allowing it to tear up dormant gas supply contracts and potentially setting a precedent for similar cases. The ruling marks a landmark victory for Uniper, which had to be rescued by the German government in…
Read MoreThe tiny trades that brought down Segantii’s giant hedge fund
It took just US$1.1 million worth of well-timed trades to knock down one of Asia’s top hedge funds. A Hong Kong court on Wednesday (Jun 12) revealed how Simon Sadler’s Segantii Capital Management allegedly used insider information to sell shares of an apparel retailer ahead of an impending block trade seven years ago. The details…
Read MoreSingapore shares end flat as markets hold their breath for Fed rate decision; STI down 0.1%
SINGAPORE shares ended flattish on Wednesday (Jun 12) as markets took a wait-and-see approach ahead of a key US Federal Reserve meeting. The benchmark Straits Times Index (STI) fell 0.1 per cent or 1.77 points to 3,307.44. Across the broader market, losers beat gainers 309 to 247 after 1.2 billion securities worth S$1 billion…
Read MoreJapan enacts law ensuring access to third-party apps
Japan on Wednesday (Jun 12) enacted legislation to ensure tech giants like Google and Apple give access to third-party smartphone apps and payment systems on their platforms or risk major fines. Similar to the European Union’s (EU) new Digital Markets Act (DMA), the law mandates that they act fairly and make operating systems, browsers and…
Read MoreShipping container prices up by 26% in Singapore
THE average shipping container prices in Singapore has increased by 26 per cent from October 2023 to May 2024, reflecting a “substantial increase” in demand for capacity amid global port congestion. In Singapore, the average price of 20-foot (ft) dry containers were US$950 in September 2023, but have since risen to US$1,211 in the…
Read MoreContainer prices surge 26%; lines shifting some transshipment from Singapore to regional ports amid congestion
THE average shipping container prices in Singapore has increased by 26 per cent from October 2023 to May 2024, reflecting a “substantial increase” in demand for capacity amid global port congestion. In Singapore, the average price of 20-foot (ft) dry containers was US$950 in September 2023, but has since risen to US$1,211 in the…
Read MoreChina solar panel manufacturers seek government action to halt freefall in prices
Chinese solar panel manufacturers said they are seeking immediate government intervention to curb investment and industry collaboration to arrest a plunge in prices of solar cells and modules, as the industry faces overcapacity. Financial incentives and a government push have helped China become the solar panel factory of the world, accounting for about 80 per…
Read MoreHSBC to boost stake in China fund venture to become majority owner
HSBC Holdings agreed to buy part of its partner’s stake in a China fund venture, becoming a majority shareholder and adding to its expansion in the world’s second-largest economy. HSBC, which owns a 49 per cent of HSBC Jintrust Fund Management, reached an agreement with Shanxi Trust to acquire a further 31 per cent of…
Read MoreMorgan Stanley plans to bring AI tools to rich Australia clients
MORGAN Stanley plans to use artificial intelligence (AI) capabilities to manage rich people’s portfolios in Australia as the Wall Street bank rollouts more software in the country that’s used in other parts of the world. “Other regions are a little bit more established, it’s a real opportunity for us to bring some of the leading ideas…
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