Posts by Stephanie Irvin
Impossible Foods aims to put plant-based burgers on European menus this year
IMPOSSIBLE FOODS hopes to add its plant-based burgers to European menus this year, bringing to a close a six-year quest to enter the world’s biggest market for meat alternatives. It would mark a major breakthrough for the Redwood City, California-based company as industry sales of plant-based meat substitutes shrink in its core American market. Before…
Read MoreStocks to watch: AEM, Aztech Global
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jun 27): AEM: The semiconductor test solutions provider raised its revenue guidance for its first half ending June to between S$185 million and S$195 million, up from an earlier range of S$155 million to S$170 million. The group on…
Read MoreNike profits sink but company says it is turning a corner
[NEW YORK] Nike reported sharply lower quarterly profits on Thursday, but signalled it was past the worst stage of a corporate retooling as it implements “surgical” US price increases to defray tariff costs. The Oregon-based sportswear company, beset with oversupply of merchandise that fell flat with consumers, reported profits of US$211 million in its fiscal…
Read MoreOil inches up on US demand strength; fading Middle East supply risks offset gains
[NEW YORK] Oil prices edged higher on Thursday as crude inventories in the United States fell on higher demand as summer driving season ramped up, while concerns over Middle East supply risks eased, offsetting some gains. Brent crude futures settled 5 cents, or 0.07 per cent, higher to US$67.73 a barrel. US West Texas Intermediate crude…
Read MoreWall Street forecasts windfall for big US banks from Fed plan to ease leverage rule
[BENGALURU] Large US global banks can expect as much as US$6 trillion in additional balance sheet capacity and billions in freed up capital under a Federal Reserve plan to relax leverage rules, Wall Street brokerages estimated on Thursday (Jun 26). The US Fed unveiled a proposal on Wednesday that would overhaul how much capital large…
Read MoreS-E Asia’s e-commerce platform gross merchandise value growth rate eases: report
[SINGAPORE] South-east Asia’s total e-commerce platform gross merchandise value (GMV) grew at a slower rate of 12 per cent year on year in 2024, as the leading platforms focused on a more rational and sustainable trajectory. Despite decelerating from the 15.2 per cent growth in 2023, the e-commerce platform GMV rose to US$128.4 billion in 2024…
Read MoreAmazon Web Services and Digital Industry Singapore launch programme to spur AI transformation
[SINGAPORE] Amazon Web Services (AWS) and government agency Digital Industry Singapore (DISG) on Thursday (Jun 26) launched a programme to accelerate artificial intelligence (AI) transformation among enterprises over the next year. The initiative, called AI Springboard, will provide some 300 Singapore-based companies with up to S$600,000 in Amazon cloud credits and training support. AWS is…
Read MoreSingapore Savings Bond demand falls short; 10-year average return drops to 2.49%
In comparison, the previous issuance for June saw a total of S$302.9 million in applications, versus S$500 million on offer [SINGAPORE] The latest Singapore Savings Bond (SSB) allotted on Thursday (Jun 26) saw applications fall short of the S$400 million offered, with the 10-year average return dropping from the previous tranche. The July tranche of…
Read MoreSingapore’s millionaire inflow to halve in 2025: report
[SINGAPORE] Singapore will likely see a net inflow of 1,600 millionaires in 2025 – less than half the 3,500 that had been projected to move there in 2024, a report by investment migration consultancy Henley & Partners showed. This is even as a record 142,000 millionaires worldwide are expected to relocate this year, according to…
Read MoreIndonesia working on new e-commerce tax rule in bid to target ‘shadow economy’
[JAKARTA] Indonesia is working on a new regulation that will require e-commerce platforms to collect and pass on sellers’ sales income in a bid to tackle the “shadow economy”, its tax office said on Thursday (Jun 26) confirming a Reuters report earlier this week. Citing sources, Reuters reported exclusively on Tuesday about a planned directive…
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