Posts by Yurie Miyazawa
EV battery maker calls for cheaper EU energy to counter China
THE South Korean owner of the European Union’s largest factory of electric vehicle (EV) batteries called on the bloc to reduce energy costs and grow the strategic industry amid stiff competition from China. LG Energy Solution’s facility near Wroclaw, Poland, has been operating at about half of its capacity this year due to weaker global…
Read MoreSingapore stocks open lower on Tuesday; STI down 0.3%
SINGAPORE stocks started trading lower on Tuesday (Nov 26), following declines in other Asian markets after US President-elect Donald Trump said the US would impose an extra 10 per cent tariff on Chinese goods on top of all existing levies. As at 9.03 am, the Straits Times Index (STI) was down 0.3 per cent or…
Read MoreSingapore shares slip amid mixed Asia markets after Trump threatens tariffs; STI down 0.5%
SINGAPORE stocks fell on Tuesday (Nov 26), following a mixed picture in other Asian markets after US president-elect Donald Trump said he would impose an extra 10 per cent tariff on Chinese goods. The Straits Times Index (STI) lost 0.5 per cent or 19 points to close at 3,712.39. Across the broader market, losers outnumbered gainers…
Read MoreIntel expects US to shave chip-making grant: sources
INTEL expects the US government to reduce a preliminary subsidy of US$8.5 billion to build more chip factories, two sources familiar with the matter said on Monday (Nov 25), weeks after the company received a separate US$3 billion deal with the Pentagon. The US$8.5 billion in direct grants were part of a larger package of…
Read MoreZoom gives in-line sales forecast while investors seek more
ZOOM Video Communications gave a sales forecast for the current quarter that failed to impress investors who were expecting a bigger boost from the company’s expanded suite of products. Revenue will be about US$1.18 billion in the period ending in January, Zoom said on Monday (Nov 25). Profit, excluding some items, will be US$1.29 to…
Read MoreBank of England suppressing debate on long-term rates, ex-policymaker says
BANK of England (BOE) governor Andrew Bailey is suppressing a critical debate about where interest rates will settle in a move that may sow confusion about the stance of monetary policy, former BOE policymaker Gertjan Vlieghe said. BOE rate-setters “need to take a view” on when to stop cutting rates, Vlieghe said. The neutral level,…
Read MoreCitigroup awards special retention bonuses for dozens, Bloomberg News reports
CITIGROUP’S wealth unit has greenlit special retention bonuses for dozens of personnel this year as the Wall Street giant looks to prevent more bankers from leaving, Bloomberg News reported on Monday (Nov 25). Andy Sieg, who was hired last year by the lender, said the unit’s recent results are starting to take hold, the report…
Read MoreUS: Wall St opens higher as Trump’s Treasury selection boosts sentiment
WALL Street’s main indexes opened higher on Monday (Nov 25), with the blue-chip Dow scaling a record high, driven by investor optimism following Scott Bessent’s nomination as Treasury Secretary in the incoming Trump administration. The Dow Jones Industrial Average rose 89.0 points, or 0.20 per cent, at the open to 44,385.49. The S&P 500…
Read MoreSouth Korea prosecutors seek 5-year jail term for Samsung Electronics chief in appeals case
SOUTH Korean prosecutors requested on Monday (Nov 25) a five-year jail term for Samsung Electronics chairman Lee Jae-yong over actions in a controversial merger of affiliates that helped solidify his control in a case being tried at an appeals court. Lee was found not guilty in February of accounting fraud and stock manipulation by a…
Read MoreUK regulator fines Barclays £40 million over disclosures related to Qatar dealings
BRITAIN’S financial regulator said on Monday (Nov 25) it had fined Barclays £40 million (S$68 million) in total for its failure to disclose certain arrangements with Qatari entities in 2008. The fine by the Financial Conduct Authority (FCA) dates back to the height of the 2008-to-2009 financial crisis, when Barclays scrambled to raise funds from…
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