Posts by Yurie Miyazawa
US: Wall St opens lower with Powell’s testimony on tap
WALL Street’s main indexes opened lower on Tuesday (Feb 11), as investors awaited a testimony from Federal Reserve Chair Jerome Powell for insight on tariffs and their impact on inflation in the world’s biggest economy. The Dow Jones Industrial Average fell 69.0 points, or 0.16 per cent, at the open to 44,401.38. The S&P…
Read MoreBP pledges strategy reset as annual profit falls by a third
BP CEO Murray Auchincloss pledged on Tuesday (Feb 11) to fundamentally reset the company’s strategy as it reported a 35 per cent fall in annual profits, missing analysts’ expectations. The drop in profit to US$8.9 billion follows weekend reports Elliott Investment Management has built a stake in the company, intensifying demands for strategic shifts. Auchincloss…
Read MorePartners Group’s 2024 private equity secondary market investments surge 113% on year
ONE of the world’s biggest private equity (PE) companies, Swiss-based Partners Group, pumped in US$3.2 billion (S$4.3 billion) into PE secondary investments on behalf of its clients last year, a 113 per cent jump from US$1.5 billion in 2023. The Swiss-based company said on Tuesday (Feb 11) that it completed 25 such investments last year.…
Read MoreInvestors cautious ahead of Powell’s address, US inflation data; STI down 0.4%
SINGAPORE shares retreated from previous day’s rally to close lower on Tuesday (Feb 11), as investors stayed cautious ahead of market-moving messages from Federal Reserve chair Jerome Powell’s testimony and US inflation data. The Straits Times Index (STI) was down 0.4 per cent or 14.37 points at 3,860.76. Across the broader market, losers outnumbered gainers…
Read MoreChina’s CATL to raise at least US$5 billion in Hong Kong listing: sources
CHINESE battery giant CATL is expected to raise at least US$5 billion in a Hong Kong listing, according to two sources with direct knowledge of the matter. CATL did not immediately respond to a request for comment from Reuters. The biggest battery maker in the world filed an application to list on the Hong Kong…
Read MoreCDL Kiwi unit’s NZ$2.25-per-share offer ‘too low and inadequate’: M&C New Zealand
THE offer by City Development Limited’s (CDL) wholly owned subsidiary to take Millennium & Copthorne Hotels New Zealand (MCK) private at NZS$2.25 per share is “too low and inadequate”. In a bourse filing on Monday (Feb 10), MCK said: “The independent directors believe that the offer does not sufficiently reflect the value of MCK’s hotel…
Read MoreSoftBank explores debt-heavy financing for US$500 billion AI push
A FEW weeks ago, SoftBank Group founder Masayoshi Son stood alongside US President Donald Trump to unveil the Stargate Project, an artificial intelligence (AI) venture with OpenAI that could cost US$500 billion or more. Now Son is figuring out how to pay for it. The Japanese billionaire is looking at a technique called project financing…
Read MoreSingapore shares rise on Tuesday; STI up 0.3%
SINGAPORE shares began Tuesday (Feb 11) trading in positive territory as investors digested US President Donald Trump’s announcement that he would impose reciprocal tariffs on other countries. As at 9.01 am, the Straits Times Index (STI) was up 0.3 per cent or 11.69 points at 3,886.82. Across the broader market, gainers outnumbered losers 72 to…
Read MoreParagon Reit posts 10.4% lower H2 DPU of S$0.0233
THE manager of Paragon Real Estate Investment Trust (Paragon Reit) on Tuesday (Feb 11) posted a distribution per unit (DPU) of S$0.0233 for the second half ended December, down 10.4 per cent from S$0.026 in the previous corresponding period. This brings FY2024 DPU, excluding special distribution, to S$0.0465, down 7.4 per cent from S$0.0502 previously.…
Read MoreHuawei boosts smartwatch sales by registering them as medical devices
HUAWEI Technologies has found an unlikely way to boost sales of its latest smartwatches in the face of sluggish consumer spending in China: by registering them as medical devices. After the launch of Huawei’s new Watch D2 smartwatch in November, buyers discovered they can charge it to their medical insurance rather than paying for it…
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