Posts by Stephanie Irvin
Ralph Lauren beats quarterly revenue estimates on resilient demand
It posted quarterly revenue of US$1.70 billion, compared with estimates of US$1.65 billion Published Thu, May 22, 2025 · 09:02 PM [WASHINGTON] Ralph Lauren surpassed quarterly revenue estimates on Thursday (May 22), helped by resilient demand for its classic Polo shirts and spring dresses, sending its shares up 3 per cent in premarket trading. Its…
Read MoreXiaomi billionaire touts SUV, Chinese chip in tech showcase
[BEIJING] Xiaomi’s billionaire founder outlined plans for its first SUV and top-end gadgets with self-developed mobile chips, showcasing ambitions to expand its technology portfolio and move past a much-publicised accident that cast doubt on its expertise. Lei Jun, who shot to fame with bold plans to unseat Apple in China, gave online viewers a sneak…
Read MoreBYD beats Tesla in Europe for first time with 169% sales surge
Published Thu, May 22, 2025 · 07:01 PM [FRANKFURT] BYD sold more electric vehicles in Europe than Tesla for the first time, overtaking the American brand that’s long led the continent’s EV segment. China’s leading automaker registered 7,231 new battery-electric vehicles in April, according to market researcher Jato Dynamics. That was up 169 per cent…
Read MoreSingapore shares slide in tandem with regional bourses and Wall Street
Decliners beat gainers 288 to 178 across the broader Singapore market, with 1.1 billion of securities valued at S$1.4 billion changing hands [SINGAPORE] Asian bourses including Singapore’s were largely in the red on Thursday (May 22), after overnight Wall Street’s sell-off as the United States fiscal uncertainty soured market sentiment. Singapore’s Straits Times Index (STI)…
Read MoreCiti launches AI tools for Hong Kong employees
Published Thu, May 22, 2025 · 01:34 PM CITIGROUP has launched Citi AI, a suite of artificial intelligence (AI) tools for its employees in Hong Kong, the bank said on Thursday. The tools support internal operations including information retrieval from Citi’s policy library, document summarisation and creation of electronic communications drafts among others, it said…
Read MoreFormer central bank deputy governor to head Bank of China: sources
Published Thu, May 22, 2025 · 12:31 PM [BEIJING] China will appoint financial veteran Liu Guiping as chairman of Bank of China (BOC), the nation’s fourth-largest state-owned bank, two sources with knowledge of the matter said. Liu, who currently serves as executive vice-mayor of Tianjin city, will replace current chairman Ge Haijiao, who will move…
Read MoreCPF Special, MediSave and Retirement Accounts’ interest rate remains at 4% for Q3 2025
[SINGAPORE] The interest rate for the Central Provident Fund’s (CPF) Special, MediSave and Retirement Accounts (SMRA) will remain at 4 per cent per annum in the third quarter of 2025 – the same as the second quarter. This is because the SMRA pegged rate continues to fall below the floor rate of 4 per cent,…
Read MoreAsia: Equities track Wall Street sell-off as US deficit fears grow
[HONG KONG] Asian equities sank and Treasuries remained under pressure following sharp losses on Wall Street fuelled by US economy fears as Donald Trump tries to push through fresh tax cuts that could balloon the already huge deficit. A weak auction of 20-year US government debt flashed a warning sign that the bond market was…
Read MoreBank of Japan policymaker rules out intervention to stem bond yield spike
[TOKYO] Bank of Japan board member Asahi Noguchi said on Thursday (May 22) he saw no need for the central bank to intervene in the bond market to stem recent sharp rises in super-long yields, describing the moves as “rapid but not abnormal.” Noguchi, a former academic regarded as one of the central bank board’s…
Read MoreBank of Japan should step in only in a ‘severe’ bond market rout, policymaker says
Published Thu, May 22, 2025 · 11:05 AM [TOKYO] The Bank of Japan does not need to make big changes to its bond taper plan and should only ramp up buying in times of “severe market disruption,” its board member Asahi Noguchi said, a sign the bank sees no imminent need to arrest recent sharp…
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