Posts by Stephanie Irvin
Chinese automakers pledge to make payments to suppliers within 60 days
Published Wed, Jun 11, 2025 · 12:45 PM [SHANGHAI] Most Chinese automakers have pledged to make payments to suppliers within 60 days, responding to regulatory pressure that followed a recent outcry from suppliers over long payment times and other practices they call unfair. Chinese authorities issued new rules in March that require big companies to…
Read MoreGold rises as US-China trade uncertainty persists, investors eye inflation data
GOLD prices edged higher on Wednesday as uncertainty surrounding the finalisation of a US-China trade agreement weighed on sentiment and fuelled some safe-haven buying, with investors awaiting key US inflation data for further market direction. Spot gold rose 0.2 per cent to US$3,328.89 an ounce, as of 0153 GMT. US gold futures were up 0.2…
Read MoreNintendo says sold record 3.5 million Switch 2 consoles in first four days
[TOKYO] Nintendo said on Wednesday it had sold a record 3.5 million Switch 2 units worldwide in the first four days after the console was launched. “This is the highest global sales level for any Nintendo hardware within the first four days,” the Japanese video game giant said in a statement. Featuring a bigger screen…
Read MoreNew Zealand central bank says former head quit over funding dispute
Published Wed, Jun 11, 2025 · 08:41 AM [SYDNEY] Former New Zealand central bank governor Adrian Orr’s surprise resignation in March was due to his disagreements with the treasury over proposed cuts to the bank’s operating budget, official documents showed on Wednesday. The Reserve Bank of New Zealand (RBNZ), in an official response to requests…
Read MoreAustralia’s Qantas to close low-cost arm Jetstar Asia
Published Wed, Jun 11, 2025 · 08:02 AM AUSTRALIAN flag carrier Qantas said on Wednesday it will close Jetstar Asia, the group’s Singapore-based low-cost unit, in a bid to recycle up to A$500 million (S$420 million) as part of its fleet renewal plans. Qantas said that 13 Jetstar Asia Airbus A320 aircraft will be progressively…
Read MoreBlackstone plans US$500 billion Europe investment: CEO
BLACKSTONE is planning to invest as much as US$500 billion in Europe over the next 10 years, underlining the continent’s growing appeal to investors during a period of geopolitical flux. “We see it as a major opportunity for us,” chief executive officer Steve Schwarzman said in a Bloomberg Television interview on Tuesday. “They are starting…
Read MoreUS: Wall St muted at open as US-China trade talks in focus
Published Tue, Jun 10, 2025 · 09:54 PM [NEW YORK] Wall Street’s main indexes opened subdued on Tuesday (Jun 10) as investors awaited the outcome of ongoing trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year. The Dow Jones Industrial Average fell 23.5…
Read MoreTencent Music to buy Chinese audio platform Ximalaya for US$2.4 billion
Ximalaya counts Tencent, Baidu and Sony Group’s music entertainment unit as backers Published Tue, Jun 10, 2025 · 08:40 PM [BEIJING] Chinese music platform Tencent Music Entertainment Group said on Tuesday (Jun 10) it would buy long-form audio platform Ximalaya for about US$2.4 billion in cash and stock, expanding its library of content to attract…
Read MoreSingapore stocks snap 5-day winning streak on Tuesday; STI down 0.1%
[SINGAPORE] Local stocks closed lower on Tuesday (Jun 10), ending five straight days of gains amid concerns that the US-China trade talks may not be going well. Chinese stocks fell ahead of the second day of trade talks with the US, a sign that investors are still nervous as the countries meet to address contentious…
Read MoreThai tech services outlook remains positive amid recession fears: Analyst
[SINGAPORE] Maybank Securities has sounded a positive note for the outlook for the Thailand technology services sector, on the back of support from the banks and government. In a report dated Jun 6, Maybank Securities analyst Wasu Mattanapotchanart singled out tech consulting company Bluebik as the top pick for growth. Maybank Securities estimated that the…
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