Posts by Stephanie Irvin
JPMorgan plans to offer clients financing against crypto ETFs
[NEW YORK] JPMorgan Chase plans to let trading and wealth-management clients use some cryptocurrency-linked assets as collateral for loans, a major step by the biggest US bank to make inroads into an industry President Donald Trump has pledged to support. The firm will start providing financing against crypto exchange-traded funds, beginning with BlackRock’s iShares Bitcoin…
Read MoreSTMicro to cut 5,000 jobs in next 3 years, says CEO
[AMSTERDAM] STMicroelectronics expects 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced earlier this year, its chief executive said on Wednesday (Jun 4). Around 2,000 employees will leave the Franco-Italian chipmaker due to attrition, bringing the total count with voluntary departures to 5,000, Jean-Marc Chery said at an…
Read MoreUS: Wall Street opens slightly higher after private payrolls data
Published Wed, Jun 4, 2025 · 09:53 PM [NEW YORK] US stocks inched up in choppy trading on Wednesday (Jun 4) after weaker-than-expected private payrolls data deepened concerns about the Trump administration’s erratic trade policies pressuring the labour market. The Dow Jones Industrial Average rose 54.5 points, or 0.13 per cent, at the open to…
Read MoreOCBC partners Ant International to offer embedded finance to Indonesia SMEs
Tie-up taps the bank’s presence and knowledge of SMEs and customer franchise in Indonesia, and Ant International’s capabilities in alternative data modelling, dynamic credit strategy and automated credit decision [SINGAPORE] OCBC has partnered digital payment, digitisation and financial technology provider Ant International to provide embedded financial services to small and medium-sized (SMEs) enterprises in Indonesia.…
Read MoreHave 30 and 80 year olds in top management of big companies.
[SINGAPORE] Piyush Gupta’s tenure as DBS’s chief executive officer (CEO) ended with a bang as the group posted record net profit of S$11.29 billion for 2024 and Gupta received a total remuneration of S$17.6 million for the financial year ended Dec 31, 2024. Tan Su Shan succeeded Gupta on Mar 28. Recently, Tan, who is…
Read MoreKorean stocks rise to enter bull market, bonds sink after vote
[SEOUL] South Korea’s equity benchmark climbed to enter a bull market, after Lee Jae-myung’s widely-expected win in the presidential election ended a months-long political leadership vacuum. The Kospi Index ended 2.7 per cent higher on Wednesday (Jun 4), taking its gain from the April low to more than 20 per cent as investors piled into…
Read MoreSingapore Paincare worth up to S$0.37 a share, more than double its privatisation offer: Sias
[SINGAPORE] The Securities Investors Association (Singapore), or Sias, is urging minority shareholders of Singapore Paincare to hold off on selling their shares amid the proposed privatisation deal. In a statement released on Wednesday (Jun 4), Sias noted that the company could be worth up to S$0.37 per share, which is more than double its…
Read MoreChina considers ordering hundreds of Airbus jets in major deal
[HONG KONG] China is considering placing an order for hundreds of Airbus aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries’ long-term ties, according to sources familiar with the matter. Deliberations are underway with Chinese airlines about the size of a potential order, said the sources, who asked not…
Read MoreMore Chinese corporates eyeing deals in Asean, secondary listings on SGX
[SINGAPORE] Chinese corporates are increasingly looking for deals in South-east Asia amid rising uncertainty from US trade policies, said Jason Saw, head of investment banking at CGS International. Saw expects CGSI will see eight to 10 major deals in the coming months, in its four key markets in Malaysia, Indonesia, Singapore and Thailand, with many…
Read MorePing An Insurance raises US$1.5 billion from convertible bonds
[HONG KONG] Ping An Insurance (Group) of China has sold HK$11.8 billion (S$1.9 billion) in bonds that can be converted into shares listed in Hong Kong, marking the insurance giant’s second such offering in under a year. The convertible bonds carry a zero coupon and are due in 2030, according to a company filing in…
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