Posts by Stephanie Irvin
ECB’s Schnabel says now is right time to boost role of euro
[DUBROVNIK] European Central Bank Executive Board member Isabel Schnabel sees a favourable moment now to strengthen the euro’s global role as investors turn to Europe. There is a “window of opportunity” to increase the international role of the euro, she said in a question to a panel at the 31st Dubrovnik Economic Conference on Saturday…
Read MoreMeta in talks for scale AI investment that could top US$10 billion
[NEW YORK] Meta Platforms is in talks to make a multibillion-dollar investment into artificial intelligence startup Scale AI, according to people familiar with the matter. The financing could exceed US$10 billion in value, some of the people said, making it one of the largest private company funding events of all time. The terms of…
Read MoreBHG downsizes Bugis Junction flagship outlet as department stores face shaky future
[SINGAPORE] Department store BHG is downsizing its flagship Bugis Junction outlet – its last remaining permanent store – from three to two levels. This follows the March closure of its Junction 8 store, which will be replaced by home furnishings brand Nitori. Nitori will also take over the third-floor space BHG used to occupy at…
Read MoreTrump says decision on Fed chair will be out soon
Published Sat, Jun 7, 2025 · 08:13 AM [WASHINGTON] President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. “It’s coming out very soon,” Trump told reporters on Air Force One. When asked specifically about…
Read MoreNew push in Europe to curb children’s social media use
[LUXEMBOURG] From dangerous diet tips to disinformation, cyberbullying to hate speech, the glut of online content harmful to children grows every day. But several European countries have had enough and agree the EU should do more to prevent minors’ access to social media. The European Union already has some of the world’s most stringent digital…
Read MoreCrude climbs on US jobs report, China talks
[HOUSTON] Crude rose more than US$1 a barrel on Friday, posting its first weekly gain in three weeks after a favourable US jobs report and resumed trade talks between the US and China, raising hopes for growth in the world’s two largest economies. Brent crude futures settled at US$66.47 a barrel, up US$1.13, or 1.73…
Read MoreBNP to cut 200 branches by end of 2026 to kick off retail revamp
[PARIS] BNP Paribas chief executive officer Jean-Laurent Bonnafe plans to cut hundreds of domestic retail branches in an effort to lift profitability at a business that has struggled for years. In a first step, the French lender plans to close around 80 branches this year and another 120 next, according to people familiar with the…
Read MoreUS: Wall Street opens higher on jobs data optimism; Tesla rebounds
Published Fri, Jun 6, 2025 · 09:42 PM [NEW YORK] US stock indexes opened higher on Friday (Jun 6) after a strong jobs report calmed worries over the health of the labour market, while Tesla shares rebounded on signs of cooling tensions between CEO Elon Musk and US President Donald Trump. The Dow Jones Industrial…
Read MoreSasseur Reit receives up to 508 million yuan from sponsor for refinancing
[SINGAPORE] Sasseur Real Estate Investment Trust’s (Reit) said a wholly owned subsidiary of its sponsor has entered into an unsecured sponsor loan agreement of up to 508 million yuan (S$91.1 million). The proceeds from the sponsor loan will help to repay existing offshore bank loans, due in March 2026. As the sponsor loan is denominated…
Read MoreProcter & Gamble’s job cuts raise questions over possible impact on Singapore operations, new facility plans
[SINGAPORE] Procter & Gamble (P&G) has so far stayed silent about how its planned reduction of about 15 per cent of its global non-manufacturing workforce over the next two years will affect its operations in Singapore. The consumer goods giant had on Thursday (Jun 5) announced at a Deutsche Bank conference in Paris that it…
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