Posts by Stephanie Irvin
Indian stocks recoup losses sparked by Modi’s election upset
INDIAN stocks surged to a new all-time high, recouping losses from Tuesday’s unexpected election result that triggered a record sell-off in the world’s fifth-largest equities market. The NSE Nifty 50 Index closed 2.1 per cent higher at 23,290, bringing its weekly gain to more than 3 per cent. The surge over the past three sessions…
Read MoreEurope: Stocks fall as hot US payrolls flare rate worries
European shares fell on Friday (Jun 7), led by rate-sensitive sectors such as real estate and utilities after a stronger-than-anticipated US jobs report fanned worries that the Federal Reserve would not cut interest rates anytime soon. The continent-wide Stoxx 600 closed 0.2 per cent lower, but recorded its first weekly gain in three weeks. The…
Read MoreSabana Reit unitholders call for EGM to be held in fresh requisition letter
UNITHOLDERS of Sabana Industrial Real Estate Investment Trust (Sabana Reit) are urging the manager’s directors to hold the extraordinary general meeting (EGM) with amended resolutions using the original timeline and as soon as possible. An announcement posted by the Reit to the bourse on Friday (Jun 7) came attached with a fresh requisition letter from…
Read MoreTesla upgrades in-car navigation software in China, introduces lane-level guidance
TESLA released a software upgrade for its in-car navigation system in China on Friday (Jun 7), introducing new features such as displaying lane markings on its maps that correspond to the actual lanes on the road. The company announced the update on its official WeChat account along with a series of new features added in…
Read MoreGameStop’s sales continue to slide in surprise earnings release
GAMESTOP reported a drop in sales and announced a more than US$3 billion stock offer as it released its first-quarter report in advance, sending the shares of the video game retailer down sharply in volatile trading. The company was set to post results on Jun 11, but published it on Friday (Jun 7) morning, ahead…
Read MoreSGX securities turnover value climbs 16% in May; volume sinks 12%
TOTAL securities market turnover value on the Singapore Exchange (SGX) increased 16 per cent year on year to S$26.7 billion in May, according to the exchange’s monthly market statistics report released on Friday (June 7). This is a 4.8 per cent rise from April’s S$25.5 billion. However, total market turnover volume fell 12 per cent…
Read MoreEurope, US fearful of China electric cars, says BYD founder
FOREIGN countries are “afraid” of Chinese electric vehicles, BYD chairman Wang Chuanfu said in a swipe at European and US efforts to constrain imports of China-made cars. “There are many examples of politicians in other countries who are worried about EVs in China,” Wang said in a speech at an industry summit in the southwestern…
Read MoreBillionaire families fuel US$20 billion private equity buyout wave
ULTRA-RICH individuals and families worth more than US$150 billion are helping drive a resurgence in private equity buyouts, providing capital for some of the year’s biggest acquisitions to overcome a tough dealmaking environment. Wealthy clans that built their fortunes in industries from children’s toys to household boilers have been co-investors on nearly US$20 billion of…
Read MoreSingapore shares rise at Friday’s open; STI up 0.2%
SINGAPORE equities began trading in positive territory on Friday (Jun 7), as US investors wait crucial payrolls data and the European Central Bank (ECB) cuts lending rates. As at 9.01 am, the Straits Times Index (STI) opened 0.2 per cent or 5.41 points higher at 3,336.22. Across the broader market, gainers outnumbered losers 47 to…
Read MoreNetflix tests biggest TV app redesign in 10 years
NETFLIX started rolling out the first major revamp of its television app in a decade on Thursday (Jun 6), testing changes designed to help viewers more quickly decide what they want to watch. The video streaming pioneer wants to increase the time that viewers spend on the app to help retain customers and draw subscribers…
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