Posts by Stephanie Irvin
Trafigura flags trading headwinds as payouts outstrip profit
TRAFIGURA Group warned that market volatility may not translate to opportunities for its traders, as the commodity giant reported first-half results that showed its dividend payments exceeded net profit. US President Donald Trump’s trade war in the last couple of months has ignited sharp price swings and market dislocations — typically conditions that commodity traders…
Read MoreTrump-Musk row slams Tesla shares, US$150 billion in market value wiped out
TESLA shares went into free-fall on Thursday as President Donald Trump publicly feuded with the electric vehicle maker’s billionaire CEO Elon Musk, his self-proclaimed “First Buddy.” Investors watched the unfolding drama with growing worry about what the fracas could mean for Musk’s business empire. The carmaker’s shares ended the day down 14 per cent, wiping…
Read MoreUS: Wall Street opens higher as investors focus on trade, key jobs data
Published Thu, Jun 5, 2025 · 09:42 PM [NEW YORK] US stock indexes opened higher on Thursday (Jun 5) after signs of tariff negotiations between the US and China, while investors looked ahead to a key jobs report to gauge the health of the labour market amid trade uncertainties. The Dow Jones Industrial Average rose…
Read MoreStanChart brings maximum interest rate on savings account to record 8.05%
[SINGAPORE] While local banks are dropping their interest rates on savings accounts, Standard Chartered Bank (StanChart) has raised its rates to an all-time high. Its revised interest rates, which took effect on Jun 1, is a two percentage point increase to 8.05 per cent, from 6.05 per cent previously. This is the highest rate available…
Read MoreMalaysia’s Petronas to cut more than 5,000 jobs after profits slump
The state-owned oil firm will also freeze promotions and hiring until December 2026 Published Thu, Jun 5, 2025 · 05:46 PM Malaysia’s state-owned oil firm will reduce headcount by upward of 5,000 people, Petronas chief executive officer Muhammad Taufik said in a briefing in Kuala Lumpur on Thursday (Jun 5). It will also freeze promotions…
Read MoreAcrophyte Hospitality Trust proposes disposal of Michigan hotel for US$6.7 million
[SINGAPORE] Acrophyte Hospitality Trust has proposed the disposal of a hotel in the US city of Auburn Hills in Michigan for a consideration of around US$6.7 million, said managers of the stapled group on Thursday (Jun 5). Through its indirect wholly owned subsidiary ARA USH Chicago, the stapled group on Wednesday entered into a conditional…
Read MoreRBI set to deliver third straight rate cut to lift growth
[NEW DELHI] India’s central bank will likely cut interest rates for the third straight meeting to boost growth, with market watchers focused on the extent of easing in this cycle. The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.75 per cent, according to all but one of…
Read MoreVictoria’s Secret Credit Card Review
If you’re a fan of Victoria’s Secret and often find yourself shopping there, you might want to consider their Mastercard. It’s not just about buying lingerie; this card gives you points for every dollar you spend, both in their stores and elsewhere. Plus, there’s no annual fee, which is a sweet deal if you ask…
Read MoreStatista, TIA to award Singapore’s Top Fintech Companies for 2026
FOR the first time, Tech in Asia and global market research firm Statista will recognise Singapore’s top fintech companies. The list will include firms across these sectors: Payments Neobanking Alternate finance Wealth tech Financial planning Digital assets Enterprise fintech Insurtech This new award is an offshoot of Statista’s list of the world’s top fintech companies,…
Read MoreGamers get hold of Nintendo’s hotly awaited Switch 2
[TOKYO] Gamers on Thursday finally got their hands on Nintendo’s new Switch 2 console, which could score record early sales for the Japanese Super Mario creator. Featuring a bigger screen and more processing power, the device is an upgrade to the Switch, which became a global phenomenon with hit games such as Animal Crossing. The…
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