Posts by Stephanie Irvin
Fed’s Bostic wants more progress on inflation, in no rush to cut
[NEW YORK] US Federal Reserve Bank of Atlanta president Raphael Bostic said he’s in no rush to move interest rates, adding he wants to see “a lot” more progress on inflation despite recent encouraging price data. “There’s still a ways to go in terms of the progress that we are going to need to see,”…
Read MoreUS: Stocks advance on hopes of China trade deal
Published Wed, Jun 4, 2025 · 06:09 AM [WASHINGTON] Wall Street stocks bounced on Tuesday as investors hoped for upcoming trade deals to cool tensions from US President Donald Trump’s punishing global tariffs. The Dow Jones Industrial Average closed 0.5 per cent higher at 42,519.64 while the broad-based S&P 500 gained 0.6 per cent to 5,970.37. The…
Read MoreUS: Wall Street opens mixed as investors await trade negotiations
Published Tue, Jun 3, 2025 · 09:46 PM [NEW YORK] Wall Street’s main indices opened mixed on Tuesday (Jun 3) as investors awaited possible negotiations between the United States and its trading partners for more clarity on the tariff war that has roiled financial markets for months. The Dow Jones Industrial Average opened flat at…
Read MoreThailand and Indonesia could be growth laggards in Asean: Nomura
[SINGAPORE] Thailand and Indonesia are expected to be growth laggards within Asean, noted Euben Paracuelles, chief Asean economist at Nomura at the Nomura Investment Forum Asia press conference held at The Ritz-Carlton, Millenia Singapore on Tuesday (Jun 3). In the case of Thailand, he pointed to the 36 per cent tariff threat it faces from the…
Read MoreVolkswagen 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…
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