Posts by Stephanie Irvin
Gold prices climb as Middle East tensions rise, US inflation eases
GOLD prices rose on Thursday, as rising Middle East tensions boosted demand for safe-haven assets, while softer-than-expected US inflation data raised expectations of potential interest rate cuts by the Federal Reserve. Spot gold was up 0.3 per cent at US$3,364.10 an ounce, as of 0017 GMT. US gold futures gained 1.2 per cent to US$3,384.40.…
Read MoreToyota chairman to face scrutiny over US$33 billion deal at shareholder meeting
[TOYOTA CITY, Japan] Toyota Motor Chairman Akio Toyoda is likely to face scrutiny over a US$33 billion take-private deal of a key supplier when shareholders assemble for the Japanese automaker’s annual general meeting on Thursday. This year’s gathering, set to kick off at 10.00 am (0100 GMT), marks the first time in three years that…
Read MoreToyota chairman re-elected against backdrop of US$33 billion buyout bid
[TOYOTA CITY, Japan] Toyota Motor shareholders re-elected Akio Toyoda as chairman on Thursday (Jun 12), highlighting support among mom-and-pop investors even as the Japanese automaker’s US$33 billion buyout of a group company draws criticism from overseas shareholders. Toyoda, formerly chief executive of the world’s top-selling automaker and grandson of its founder, was widely expected to…
Read MoreNvidia marks Paris tech fair with Europe AI push
[PARIS] Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday with a bang as Nvidia boss Jensen Huang announced a major push into Europe. “In just two years we will increase the amount of AI computing capacity in Europe by a factor of 10,” Huang told a packed hall…
Read MoreOil prices jumps 4% to 2-month high as tensions rise in Middle East
[NEW YORK] Oil prices rose more than 4 per cent on Wednesday, to their highest in more than two months, after sources said the US was preparing to evacuate its Iraqi embassy due to heightened security concerns in the Middle East. Brent crude futures settled US$2.90, or 4.34 per cent, higher to US$69.77 a barrel. US West…
Read MoreEating out loses its bite; some listed F&B players are in the red on wilting demand, high costs
[SINGAPORE] As listed food and beverage (F&B) operators cite a drop in demand for eating out amid high rental rates and operating costs, analysts say this is pointing to a worrying trend of mid-market operators struggling to find their niche. Operators such as Tung Lok Restaurants and Japan Foods Holding (JFH) sank into the red…
Read MoreAI bets that fuelled Big Tech’s surge now threaten rich profits
[NEW YORK] Some investors are questioning the amount of cash Big Tech is throwing at artificial intelligence, fuelling concerns for profit margins and the risk that depreciation expenses will drag stocks down before companies can see investments pay off. “On a cash flow basis they’ve all stagnated because they’re all collectively making massive bets on…
Read MoreSingapore shares buck regional trend to close lower; STI falls 0.4%
[SINGAPORE] Local stocks fell for the second straight day on Wednesday (Jun 11), bucking the gains in most Asian markets as investors are concerned about the lack of details in the recently concluded US-China trade talks. While the world’s two largest economies agreed to a preliminary deal on how to implement the consensus reached in…
Read MoreSouth-east Asia’s polymer production crisis worsens as US-China trade shift looms
[SINGAPORE] South-east Asia’s petrochemical industry is facing a double whammy of weakening export demands and potential import surges, as trade tensions could redirect US polymer to the region’s already-saturated market, sustaining pressure on production. Polyethylene (PE) and polypropylene (PP), as crucial downstream segments, are encountering “considerable challenges” in the region, noted commodity markets intelligence firm…
Read MoreCenturion shares hit all-time high on submission to list Reit on SGX
This is the highest price its shares have risen to since they started trading in 1995 [SINGAPORE] Shares of Centurion rose on Wednesday (Jun 11) afternoon after the company announced its listing application of a real estate investment trust (Reit) to the Singapore Exchange (SGX) and Monetary Authority of Singapore. As at 1 pm, the…
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