Posts by Yurie Miyazawa
Loss of Australian unit’s managed investment trust status beyond Fraser Hospitality’s control, says Reit manager
AS THE share swap between Frasers Property and Thai Beverage (ThaiBev) was a corporate action taken by entities above the level of the unitholders of Frasers Hospitality Reit, the loss of managed investment trust status for Frasers Hospitality Trust’s (FHT) Australian unit was “beyond the control” of the manager of Frasers Hospitality Reit. The manager…
Read MoreAztech Global’s Q3 net profit falls 55.7% to S$13.7 million as revenue slides
MAINBOARD-LISTED Aztech Global posted a 55.7 per cent drop in net profit to S$13.7 million for its third quarter ended Sep 30, 2024, from S$30.9 million in the corresponding year-ago period. Earnings per share for the quarter stood at 1.78 Singapore cents for the quarter, down from 4 cents in the year-ago period, the tech…
Read MoreAdidas reports strongest China sales since early 2022
ADIDAS saw strong underlying growth in Greater China in the third quarter, while sales in North America excluding the Yeezy collection were up on the year on increasing brand momentum, after turning positive in the second quarter. Currency-neutral quarterly sales rose 9 per cent to 946 million euros (S$1.4 billion) in Greater China, up from…
Read MoreFounder of TikTok owner ByteDance jumps to top of China’s rich list
BYTEDANCE founder Zhang Yiming is China’s richest person, with personal wealth of US$49.3 billion, an annual rich list showed on Tuesday (Oct 29), although counterparts in real estate and renewables have fared less well. Zhang, who stepped down as chief executive of ByteDance in 2021, becomes the 18th individual to be crowned China’s richest person…
Read MoreFounder of TikTok owner ByteDance jumps to top of China’s rich list
BYTEDANCE founder Zhang Yiming is China’s richest person, with personal wealth of US$49.3 billion, an annual rich list showed on Tuesday (Oct 29), although counterparts in real estate and renewables have fared less well. Zhang, who stepped down as chief executive of ByteDance in 2021, becomes the 18th individual to be crowned China’s richest person…
Read MoreSimba takes a bite out of telco market; StarHub has most to lose: Maybank
MAYBANK Securities has downgraded its call on StarHub from “buy” to “hold” and cut its target price to S$1.30 from S$1.44, as it expects stiffer competition in the telco space to weigh on the company’s growth. On Tuesday (Oct 29), the research house said that its new target comes as it trims StarHub’s net profit…
Read MoreGold holds steady as investors focus on US economic data
GOLD prices held steady on Tuesday (Oct 29) as investors looked forward to a slew of US economic data for clues about the Federal Reserve’s interest rate outlook. Spot gold edged up 0.1 per cent to US$2,744.51 per ounce by 0014 GMT. Prices hit a record high of US$2,758.37 on Wednesday. US gold futures were…
Read MoreBitcoin tops US$70,000 for first time since June as election nears
BITCOIN rose past US$70,000 for the first time since June, bolstered by inflows into dedicated exchange-traded funds (ETFs) as well as speculation about potential outcomes from next week’s US election. The largest digital asset climbed about 1 per cent before paring the advance to trade at US$69,840 as at 7.23 am on Tuesday (Oct 29)…
Read MoreRobinhood rolls out contracts to bet on US presidential election
ROBINHOOD said on Monday (Oct 28) it will allow trading in US presidential election event contracts, as it seeks to capitalise on growing retail demand for betting products. This will offer users a chance to profit from speculation on the close contest between Vice-President Kamala Harris and former president Donald Trump, with polls showing a…
Read MoreFord weakens profit outlook amid price war, shares fall
FORD Motor said on Monday it expects to hit the lower end of its full-year profit guidance, dropping the company’s shares 5 per cent in after-hours trading, as a price war hits the US automaker’s bottom line. Ford expects to earn about US$10 billion in earnings before interest and taxes this year, down from its…
Read More