Posts by Yurie Miyazawa
US: Wall St muted at open after China’s retaliatory tariffs
WALL Street’s main indexes were subdued at the open on Tuesday (Feb 4) as investor appetite for risk waned after China retaliated against new trade restrictions announced by US President Donald Trump with counter tariffs. The Dow Jones Industrial Average rose 47.5 points, or 0.11 per cent, at the open to 44469.46. The S&P…
Read MoreFTI Consulting now in acting management of scandal-hit Indonesian unicorn eFishery
The move ‘aims to facilitate a thorough and objective business review to determine the best path forward for the group’, says eFishery’s board INDONESIAN aquaculture startup eFishery on Tuesday (Feb 4) announced that it has involved business consulting and management advisory FTI Consulting in the acting management of the company, with immediate effect. This comes…
Read MoreEstee Lauder expands restructuring plan with 7,000 job cuts, posts sales beat
ESTEE Lauder on Tuesday (Feb 4) expanded its restructuring plan that would include up to 7,000 job cuts and posted smaller-than-expected drop in second-quarter sales. Shares of the company, which fell about 49 per cent last year, were marginally down in premarket trading. The company said that the expanded plan is to help Estee Lauder…
Read MoreConvening EGM is ‘waste of money’: Sabana Reit internalisation committee
THE internalisation committee and incoming directors of Sabana Industrial Real Estate Investment Trust (Sabana Reit) said on Monday (Feb 3) that they intend to vote against all the resolutions in the extraordinary general meeting (EGM) requisitioned on Jan 17. They also urged unitholders to vote against the requisitioned resolutions, which include a proposal for the…
Read MoreTariffs could deal US$200 million blow to Guinness-owner Diageo in second half
GUINNESS-owner Diageo estimates its operating profit could be dented by roughly US$200 million if US tariffs on Mexico and Canada are implemented in March, its finance chief Nik Jhangiani said on Tuesday (Feb 4), adding it had strategies to offset the impact. The world’s leading spirits maker generates around 45 per cent of sales in…
Read MoreGIC makes senior leadership changes, appoints new CIO
Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm
Read MoreChina may loosen grip on yuan as Trump reignites trade war
CURRENCY traders are waiting with bated breath for China’s next daily reference rate for the yuan, with some expecting authorities to relax their tight grip, if Donald Trump’s tariffs go into effect. The People’s Bank of China (PBOC) may set the so-called fixing weaker than 7.2 per US dollar, according to Australia & New Zealand…
Read MoreChinese tea drinks firm Guming aims to raise US$202 million in Hong Kong IPO
CHINESE bubble tea drinks company Guming Holdings is aiming to raise up to US$202 million in a Hong Kong initial public offering (IPO), according to regulatory filings on Tuesday (Feb 4). The company is selling 158.6 million shares in a price range of HK$8.68 to HK$9.94 each, the filings showed. In that range, Guming will…
Read MoreBNP expands Australia presence by hiring banker for leverage finance market
BNP Paribas has hired a senior leveraged finance banker in Sydney as the French bank expands its presence in one of Asia Pacific’s busiest markets for the debt class. Peter Medynski has joined BNP in a newly-created role as director, loan capital markets, according to a spokesperson for the bank. He reports to Chris Ruffa,…
Read MoreSingapore bucks regional showing as Trump defers tariffs on neighbours; STI slips 0.1%
SINGAPORE blue chips failed to sustain the momentum at market open on Tuesday (Feb 4) with the benchmark index Straits Times Index (STI) down 3.46 points or 0.1 per cent lower at 3,823.01 at the close. Across the broader market, gainers trumped decliners 311 to 221, after 1.3 billion securities worth S$1.2 billion changed hands.…
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