Posts by Yurie Miyazawa
Cognac and champagne makers seek to boost US exports to avoid tariff risks
PRODUCERS of Cognac and Champagne are seeking to ship more bottles to the US as they brace for potential extra tariffs under President-elect Donald Trump. LVMH’s Cognac brand Hennessy has increased consignments to the US following Trump’s victory last month, while its label Moët & Chandon is among the Champagne makers that intend to do…
Read MoreFoxconn posts muted monthly sales growth while AI demand slows
APPLE’S major manufacturing partner Hon Hai Precision Industry reported a second consecutive month of single-digit sales growth, raising concerns that demand for AI infrastructure will not be able to offset weak iPhone sales. Hon Hai, also known as Foxconn, is a key server assembly partner to Nvidia. On Thursday (Dec 5), it reported sales of…
Read MorePrudential Financial promotes Andy Sullivan to CEO, succeeding Lowrey
PRUDENTIAL Financial promoted Andy Sullivan to succeed Charlie Lowrey as chief executive officer amid a broader shakeup of the insurer’s top management ranks. Sullivan, 54, who held leadership positions in all of Prudential’s businesses since he joined in 2011, will take the helm at the end of March, the company said on Tuesday (Dec 3)…
Read MoreFrasers Property alerted of scam accounts impersonating its subsidiaries
The group warns that these fraudulent accounts could attempt to solicit sensitive information from shareholders and the public under false pretenses Frasers Property was notified of the existence of unauthorised Telegram accounts impersonating Frasers Centrepoint Trust (FCT) and/or a “Frasers Commercial Trust”, as well as representatives of these entities. Frasers Commercial Trust merged with Frasers…
Read MoreLatest Singapore six-month T-bill cut-off yield slips to 3%
This is down from the 3.08% offered in the previous auction that closed on Nov 21 THE cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) fell to 3 per cent, auction results released by the Monetary Authority of Singapore on Thursday (Dec 5) showed. This was down from the 3.08 per cent offered in…
Read MoreFashionValet founders charged after sovereign wealth fund loss
MALAYSIAN prosecutors charged the founders of a local online fashion retailer over the alleged misuse of funds invested in their company by two government-linked firms. Local influencers Vivy Yusof and her husband, Fadzarudin Shah Anuar, the co-founders of FashionValet, were jointly charged with criminal breach of trust on Thursday (Dec 5). They pleaded not guilty.…
Read MoreTemu told to suspend Vietnam operations, state media reports
CHINESE online retailer Temu has been told to suspend its operations in Vietnam after it failed to meet an end-November deadline for business registration in the South-east Asian country, Vietnamese state media reported on Thursday. Temu, owned by Chinese e-commerce giant PDD Holdings, began offering its services in Vietnam in October. It had been required…
Read MoreSTI jumps more than 1%, nearing a record high
SINGAPORE stocks jumped more than 1 per cent on Thursday (Dec 5) morning, nearing a record high. As at 11:52 am, the Straits Times Index (STI) rose 40.49 points or 1.07 per cent to 3,840.43. Across the broader market, gainers outnumbered losers 230 to 197 after 511.58 million securities worth S$535.24 million changed hands. That…
Read MoreBank of Japan rate hike bets for this month tumble, pressuring yen lower
MARKET expectations of a Bank of Japan (BOJ) interest rate hike this month sank after a local media report cast doubt on an increase, weighing on the yen. Overnight indexed swaps on Thursday (Dec 5) were pricing in a 40 per cent chance of a rate hike at the central bank’s Dec 18 to 19…
Read MoreStocks to watch: CapitaLand Investment, Hong Fok, OKH
THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 5): CapitaLand Investment (CLI): The real asset manager said on Thursday its self-storage platform Extra Space Asia (ESA) has entered into a partnership with Japan’s largest indoor self-storage manager Ambitious. With the alliance, ESA is set to expand its…
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