Posts by Yurie Miyazawa
Asian markets mixed as caution builds ahead of high-stakes US election
ASIAN markets were mixed in early trade on Tuesday (Nov 5) as investors tread cautiously amid heightened volatility in anticipation of the US presidential election. Market sentiment is likely tempered by uncertainty over potential shifts in US economic policy, trade relations and stimulus measures – all of which could ripple through global financial markets.…
Read MoreAmazon still backs Talen nuclear deal after regulator rejection
AMAZON.COM said that it’s committed to building a data centre campus adjacent to a Pennsylvania nuclear plant after the top US energy regulator rejected a special deal to power the facility. The Federal Energy Regulatory Commission (Ferc) on Friday (Nov 1) voted down a request by Talen Energy that would have increased the amount of…
Read MoreElite UK Reit’s 9-month DPU rises 3.9% on higher distributable income, tax savings
Elite UK REIT on Tuesday (Nov 5) announced earnings that showed its distribution per unit (DPU) climbed while its distributable income increased year on year. Its DPU for the nine months ended September increased 3.9 per cent to 2.13 pence as the real estate investment trust (Reit) attributed the jump to higher distributable income and…
Read MoreShein’s European entity reports 68% sales growth in 2023
SALES by Shein’s Ireland-registered entity Infinite Styles Ecommerce grew 68 per cent in 2023, hitting 7.7 billion euros (S$11 billion), according to annual results published on Monday (Nov 4). Fast-fashion retailer Shein, which sells US$4 tops and US$8 dresses, has grown rapidly in the US, Europe and the UK and is working towards an initial…
Read MoreKPMG to lay off less than 4% of US audit workforce: source
KPMG will lay off less than 4 per cent, or about 330 people, of its audit workforce in the United States, a source familiar with the matter said on Monday (Nov 4). Besides KPMG, Ernst & Young, Deloitte, PricewaterhouseCoopers make up the Big Four of accounting firms. “The actions reflect our ongoing focus to align…
Read MoreSingapore stocks edge up on eve of US elections following regional trend; STI rises 0.5%
THE Straits Times Index (STI) edged up on Monday (Nov 4) by 0.5 per cent or 16.61 points to end at 3,572.04. Across the broader market, advancers outnumbered decliners 262 to 247, after 1.1 billion shares worth S$925.7 million changed hands. On the STI, top gainer Hongkong Land continued to rally, closing up 7.1 per…
Read MoreSingapore Airlines to invest S$1.1 billion in retrofitting Airbus A350 fleet
SINGAPORE Airlines (SIA) will spend S$1.1 billion to retrofit 41 Airbus A350-900 long-haul and ultra-long-range aircraft with newer cabin products. Under a multi-year retrofit programme, the airline will introduce a first-class cabin in seven planes that are ultra-long-range aircraft, SIA said in a note on Monday (Nov 4). The new business-class seats, to be installed…
Read MoreSouth Korean refiners’ losses deepen in Q3, margins set to improve in Q4
SOUTH Korean refiners reported on Monday (Nov 4) sharp losses in the third quarter from oil refining, but expect their margins to recover in the fourth quarter with peak winter demand and refinery run cuts in Asia. SK Innovation, parent of South Korea’s largest refiner SK Energy, said the July-to-September quarter operating loss for its…
Read MoreBlackstone targets new European markets in global wealth push
BLACKSTONE’S private wealth business plans to enter at least two new European markets next year to tap growing demand among the well-off, two executives at the company said. New York-based Blackstone has made attracting funds from wealthy individuals a key priority amid choppy market conditions and as private equity firms look to diversify their client…
Read MoreThailand delays naming Bank of Thailand chair as dispute drags on
THAILAND delayed naming a new central bank chairman as opposition mounted against the government’s bid to push the candidacy of a former finance minister to tighten its grip over the monetary authority. A panel mandated to pick the new chair postponed a meeting scheduled for Monday (Nov 4) to Nov 11 as it requires more…
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