Posts by Stephanie Irvin
Volkswagen says 20,000 workers agree to early exits
Published Tue, Jun 3, 2025 · 07:45 PM [BERLIN] Volkswagen said about 20,000 employees will voluntarily leave the company by the end of the decade as the carmaker restructures its German operations to cope with uneven demand for its vehicles. Gunnar Kilian, Volkswagen’s head of human relations and board member, told employees on Tuesday (Jun…
Read MoreAsean power grid could unlock 25 GW of renewable capacity, lowering Singapore’s electricity costs: Rystad Energy
[SINGAPORE] A regional power grid that allows for electricity trade between Asean nations, if fully realised, could unlock up to 25 gigawatts (GW) of renewable and energy storage projects, based on research by Rystad Energy. The projects, spanning hydropower, solar and offshore wind, would be worth more than US$40 billion in investment across the region,…
Read MoreAscott, Frasers Hospitality expand footprint in Asia
[SINGAPORE] Lodging sector players Ascott and Frasers Hospitality issued separate statements on Tuesday (Jun 3) announcing their expansion in Asia with new signings and openings. Ascott, the wholly owned lodging business of CapitaLand Investment (CLI), secured four new signings and one opening under its luxury brand, The Crest Collection, in the past six months, amid…
Read MoreJulius Baer’s new goals fail to impress in setback for CEO
[ZURICH] Julius Baer Group unveiled fresh targets aimed at cutting costs and setting the Swiss wealth manager on the road to better profitability, though investors saw little reason to cheer. Shares in the Zurich-based lender fell after the open on Tuesday (Jun 3), following chief executive officer Stefan Bollinger’s announcement of an extra 130…
Read MoreSingapore hedge fund Arrowpoint capitalised on May market turmoil
[HONG KONG] Singapore’s multi-strategy hedge fund Arrowpoint Investment Partners has made gains by exploiting market dislocations triggered by global trade tariff shocks and sees more arbitrage opportunities ahead, its chief investment officer said. Since mid-April, the US$1.1 billion fund has capitalised on extreme dislocations in equities, currencies and bond curves, founder and CIO Jonathan Xiong…
Read MoreHK Express airfares dragged down by rising competition out of Hong Kong, CEO says
[NEW DELHI] An accelerating fall in the price of air tickets from recent high levels is the biggest challenge at Cathay Pacific’s budget arm HK Express, its CEO said, as competition rises after a third runway opened at Hong Kong’s airport. Many airlines, including HK Express and its low-cost rivals, are capitalising on the third…
Read MoreAsia: Markets rise as traders eye possible Trump-Xi talks
[HONG KONG] Asian stocks rallied on Tuesday as investors kept tabs on developments in the China-US trade war amid speculation the countries’ leaders will hold talks soon. After a period of relative calm on the tariff front, Donald Trump at the weekend accused Beijing of violating last month’s deal to slash huge tit-for-tat levies and…
Read MoreTSMC says tariffs have some impact but AI demand robust
Published Tue, Jun 3, 2025 · 10:43 AM [HSINCHU, Taiwan] US tariffs are having some impact but demand for artificial intelligence (AI) remains strong and continues to outpace supply, the chief executive of Taiwanese chipmaker TSMC said on Tuesday. US President Donald Trump’s trade policies have created much uncertainty for the global chip industry and…
Read MoreGold hovers near four-week peak on weaker US dollar, trade concerns
Published Tue, Jun 3, 2025 · 09:36 AM [BENGALURU] Gold edged up to hit a near four-week high on Tuesday (Jun 3), as a weaker US dollar and rising uncertainty over the US-China trade deal boosted demand for the safe-haven asset. Spot gold inched up 0.1 per cent at US$3,381.13 an ounce, as at 0038…
Read MoreElectric trucks are the latest threat to oil demand in China
MORE and more Chinese trucks are being powered by batteries, another sign that oil-based fuels are getting shoved to the sidelines in an increasingly electrified economy. Government incentives are boosting sales of electric trucks in a sector that has traditionally run on diesel, a fuel that makes up over a quarter of Chinese oil demand.…
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