Posts by Yurie Miyazawa
More ECB rate cuts increasingly unlikely, Wunsch says
[WASHINGTON] The chances of further interest rate cuts from the European Central Bank (ECB) are declining, given the economy’s resilience and inflation holding around the 2 per cent target, Belgian central bank governor Pierre Wunsch said on Friday (Oct 17). The ECB cut rates by a combined two percentage points in the year to June…
Read MoreTrafigura acquires warehousing firm Grafton’s Singapore business
The deal marks the metal trader’s return to the London Metal Exchange warehousing industry [SINGAPORE] Trafigura Group has acquired a metals warehousing firm with sizable operations in Singapore, as a mountain of surplus inventory in the Asian logistics hub opens up lucrative trading opportunities. Trafigura Smelting Investments, a unit of the world’s largest metals trader,…
Read MoreJardine Matheson to delist Mandarin Oriental at US$3.35 a share; Mandarin Oriental sells HK property for US$925 million
[SINGAPORE] Controlling shareholder Jardine Matheson is moving to take Mandarin Oriental private in a recommended cash takeover valued at US$3.35 per share, bringing the hotel group’s total valuation to about US$4.2 billion. Jardine Matheson’s wholly owned subsidiary Bidco will acquire the remaining 11.96 per cent of Mandarin Oriental shares it does not already own. The…
Read MoreGiorgio Armani names veteran Giuseppe Marsocci new CEO as fashion house weighs potential sale
[MILAN] Giorgio Armani appointed company veteran Giuseppe Marsocci as chief executive officer as the Italian fashion house considers a potential sale following the death of its founder. Marsocci has spent 23 years at Armani, serving as deputy managing director and chief commercial officer since 2019, the company said in a statement on Thursday (Oct 16).…
Read MoreSip the Energy of Nature: Yerba Magic Expands Its Yerba Mate Range
There’s a reason so many morning routines start with a shaker bottle now. People want something quick that’s still healthy, which is where Yerba Magic steps in. Their peach mango blend brings a sunny fruit profile to classic yerba mate, landing somewhere between iced tea and light spritz. It tastes bright rather than sugary, and…
Read MoreBitcoin extends decline to US$104,782 as Trump escalates US-China trade war
[BENGALURU] Bitcoin, the world’s largest cryptocurrency by market value, extended declines on Friday (Oct 10) after US President Donald Trump escalated his trade conflict with China. Trump on Friday said he was raising tariffs on Chinese exports to the US to 100 per cent and imposing export controls on “any and all critical software” in…
Read MoreUS: Wall Street opens slightly higher as traders buy the dip ahead of sentiment data
[NEW YORK] Wall Street’s main indexes opened slightly higher on Friday, as investors sought to buy the dip following a brief pullback, while awaiting the consumer sentiment data for fresh clues on the economy. The Dow Jones Industrial Average rose 36.5 points, or 0.08 per cent, to 46,394.88 at the open. The S&P 500 rose…
Read MoreSingapore shares close lower in tandem with Wall Street retreat; STI slides 0.3%
Across the broader market in the city-state, decliners beat gainers 371 to 250 as 1.8 billion securities valued at S$1.4 billion are traded [SINGAPORE] Singapore shares closed lower on Friday (Oct 10), after three major Wall Street indexes retreated overnight. Blue-chip barometer Straits Times Index (STI) dipped 0.3 per cent or 13.44 points to 4,427.06,…
Read MoreTata Consultancy Services slashes 19,755 jobs in biggest workforce cut amid AI, US strains
[MUMBAI] Tata Consultancy Services (TCS) made its steepest-ever job cuts as strained ties with the US and a rapid shift towards artificial intelligence reshape the country’s US$280 billion IT services sector. India’s biggest private-sector employer cut 19,755 employees in the quarter ended Sep 30, according to the company’s quarterly earnings presentation. That number includes staff…
Read MoreSeatrium shares plunge 7.8% after US$475 million Maersk offshore Wind contract termination
Citi analyst Luis Hilado said the contract termination will likely have a negative near-term impact on its shares [SINGAPORE] Shares of Seatrium plunged as much as 7.8 per cent on Friday morning after it announced the termination of a US$475 million contract for nearly-complete wind turbine installation vessel. The counter dropped S$0.19 to S$2.25 as…
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