Posts by Yurie Miyazawa
Singapore stocks outperform regional peers post US election: Analysts give their take
POST US election, Singapore bucked weaker Asia markets on Thursday (Nov 7). The Straits Times Index (STI) surged 1.1 per cent or 38.79 points to 3,641.78 as at noon, led by banking giant DBS, OCBC and UOB. Across the region, however, major indices were a sea of red. Japan’s Nikkei 225 was down 0.9 per…
Read MoreAutomakers brace for new tariffs, EV changes under Trump presidency
AUTOMAKERS are bracing for President-elect Donald Trump to impose new tariffs on vehicles from Mexico and potentially from other countries and to reverse many existing pro-electric vehicle (EV) policies, industry associations and executives said. Trump has said he plans to begin rescinding Environmental Protection Agency (EPA) and Transportation Department vehicle rules on his first day…
Read MoreBOE to cut rates in decision that will be overshadowed by budget, Trump
THE Bank of England (BOE) is likely to lower interest rates for only the second time this year in a decision that will be overshadowed by the fallout from the UK budget and Donald Trump’s election victory. Economists and traders expect the central bank to push ahead with a quarter-point cut to its benchmark rate…
Read MoreCanada orders shutdown of TikTok’s Canadian business, app access to continue
CANADA on Wednesday (Nov 6) ordered Chinese-owned TikTok’s business in the country to be dissolved, citing national-security risks, but added the government was not blocking Canadians’ access to the short-video app or their ability to create content. “The government is taking action to address the specific national security risks related to ByteDance’s operations in Canada…
Read MoreStellantis to lay off 1,100 workers at Ohio Jeep plant
STELLANTIS said on Wednesday (Nov 6) that it is laying off about 1,100 employees at a Jeep Gladiator plant in Toledo, Ohio, as it works to improve efficiency and reduce inventory across its North American operations. The automaker recently shook up senior management in an attempt to revive slipping sales in the region and has…
Read MoreMusk’s ties to Trump will reverberate through Tesla, other interests
BILLIONAIRE Elon Musk stands to benefit greatly from his ties with US President-elect Donald Trump after the Tesla CEO became one of Trump’s most important supporters during the 2024 campaign. Tesla shares closed nearly 15 per cent higher on Wednesday after Trump defeated Vice-President Kamala Harris, with the company’s market value jumping by around US$120 billion.…
Read MoreArm gives disappointing forecast in sign of sluggish chip demand
ARM Holdings, the chip designer that went public last year, gave a disappointing sales forecast for the current period, signalling that a still-recovering smartphone market may overshadow growth from artificial intelligence (AI). Revenue will be US$920 million to US$970 million in the current period, which ends in December, the company said on Wednesday (Nov 6).…
Read MoreLamborghini revenue jumps 20% on high demand for all models
ITALIAN luxury sports car maker Lamborghini posted on Wednesday (Nov 6) nine-months revenue that was up by 20 per cent to 2.43 billion euros (S$3.5 billion), driven by a solid order backlog and high demand for all models. The firm delivered 8,411 cars in the first nine months of 2024, an 8.6 per cent increase…
Read MoreJapan’s steelmaker JFE cuts annual profit forecast on slow local demand, slumping Asia market
JAPAN’S second-biggest steelmaker, JFE Holdings, lowered its forecast for annual net profit by 37 per cent, hit by slow demand for building materials at home and a slumping Asian market amid growing exports from China. The company now predicts net profit of 130 billion yen (S$1.1 billion) for the fiscal year to Mar 31, down…
Read MoreKKR acquires 35% of Fuji Soft after first stage of tender offer
PRIVATE equity firm KKR has acquired a 35 per cent stake in Japanese software developer Fuji Soft after the first part of its two-stage buyout tender offer, the latter said in a statement on Wednesday (Nov 6). Although rival Bain Capital had proposed a higher offer in October to take the Japanese company private, KKR…
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