Posts by Stephanie Irvin
Europe: Shares bounce back as government bond yields take breather
EUROPEAN shares closed higher on Thursday (May 30) as a drop in government bond yields offered some respite while investors awaited global data in the next few days that could offer more clues on where major central banks stand on monetary policy easing. The pan-European Stoxx 600 index closed 0.6 per cent higher after falling…
Read MoreUS: Stocks fall as several large tech names retreat
WALL Street stocks fell for a second straight session on Thursday (May 30) following a downgrade in a US growth report as several large tech shares tumbled. The world’s biggest economy expanded at an annual rate of 1.3 per cent in the January to March period, the Commerce Department said, below the 1.6 per cent…
Read MoreNike layoffs hit its secret sneaker archive department
NIKE has cut some staff from its secret sneaker archives as part of a multiyear cost-cutting plan, according to people familiar with the matter. The division, known as the Department of Nike Archives – or DNA, as it’s referred to internally – is a small team of employees who collect, catalogue and store more than…
Read MoreOld Chang Kee’s H2 net profit up 50% to S$5.3 million on higher revenue
CURRY puff specialist Old Chang Kee on Thursday (May 30) posted a 50 per cent rise in net profit to S$5.3 million for its second half ended March 2024, from S$3.5 million in the same period a year ago. Revenue for the half-year rose 10 per cent to S$50.7 million, from S$46.1 million the year…
Read MoreOld Chang Kee H2 net profit up 50% to S$5.3 million on higher revenue
CURRY puff specialist Old Chang Kee on Thursday (May 30) posted a 50 per cent rise in net profit to S$5.3 million for its second half ended March 2024, from S$3.5 million in the same period a year ago. Revenue for the half-year rose 10 per cent to S$50.7 million, from S$46.1 million the year…
Read MoreUS banks have a commercial property blind spot, study warns
Large US banks may be more exposed to commercial property than regulators appreciate because of credit lines and term loans they provide to real estate investment trusts, according to a new study. Big banks’ exposure to commercial real estate (CRE) lending grows by about 40 per cent when that indirect lending to Reits is added,…
Read More🧑💼 Class of 2024 might be in for a wild job hunt
⚖️ A job? In this economy? You’re not imagining things – Singapore’s job market is not looking pretty these days. According to the labour market report for the first quarter of 2024, unemployment rates edged up slightly with 3.1 per cent of Singapore citizens unemployed as of March. Meanwhile, employment growth cooled as it grew…
Read MoreWith WFS under its belt, a supersized Sats aims for S$8 billion in revenue by 2028
AIRPORT-services provider Sats is “in the right spot”, says its chief executive officer Kerry Mok. After acquiring Worldwide Flight Services (WFS) in 2023, it is ready to tap the opportunities arising from the geopolitical tensions across the world, and companies’ adjusting their supply chains to get around the fallout from these hotspots. Post-acquisition, the supplier…
Read MoreST Index stays afloat in Asia’s sea of red, closes flat
THE Straits Times Index (STI) ended Thursday (May 30) at 3,323.38, roughly unchanged from the previous day. Advancers were slightly behind decliners, at 271 to 288, and S$1.14 billion worth of securities changed hands. It was a good showing, as Asian markets were nearly all in the red as sentiment weakened on interest rate expectations.…
Read MoreMorgan Stanley taps HSBC, UBS for private wealth hires in HK
MORGAN Stanley is beefing up its private wealth management business in Asia with two Hong Kong-based senior hires from rival banks. The Wall Street firm hired Edwin Lim as a managing director and sales manager for its Asia private wealth management business, according to an internal memo seen by Bloomberg News. Lim, a veteran…
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