Posts by Yurie Miyazawa
Elon Musk’s X drops Unilever from advertiser boycott lawsuit
ELON Musk’s X on Friday (Oct 11) dropped Unilever from a lawsuit that claimed the consumer goods giant and others conspired with an advertising industry group to boycott the social media platform, causing it to lose revenue. In a filing in federal court in Wichita Falls, Texas, X said it was dismissing its claims against…
Read MoreGold extends gains over 1% as US PPI data solidifies rate cut hopes
GOLD rose over 1 per cent on Friday (Oct 11) after a US inflation data cemented prospects of a rate cut next month, restraining the dollar below recent highs, while safe-haven demand stemming from the geopolitical tensions in the Middle East also lifted the bullion. Spot gold rose 1.1 per cent to US$2,658.42 per ounce…
Read MoreGlobal sugar market will flip into deficit this season: Sucden
THE global sugar market is will flip into a deficit of nearly two million tonnes this season as the upcoming crop in top grower Brazil has started on a poor trajectory amid unfavourable rainfall patterns, according to Sucres et Denrées (Sucden). The trader said in a report this week that raw sugar availability from Brazil’s…
Read MoreStellantis’ top level shake-up fails to stem share slide
SHARES in French-Italian automaker Stellantis resumed their decline on Friday (Oct 11) after the carmaker said CEO Carlos Tavares would retire in 2026 and announced wide management changes which failed to lift sentiment. The moves came after the owner of brands including Peugeot, Fiat, Jeep and Ram last week cut its 2024 profit forecast, with…
Read MoreUS: Wall Street mixed after PPI data; Tesla weighs on Nasdaq
US stock indexes were mixed at the open on Friday (Oct 11), as traders kept bets on a 25-basis-point Federal Reserve rate cut in November intact after producer prices data, while a slump in Tesla shares dragged on the Nasdaq. The Dow Jones Industrial Average rose 53.4 points, or 0.13 per cent, at the open…
Read MoreUS: Wall Street mixed after PPI data; Tesla weighs on Nasdaq
US stock indexes were mixed at the open on Friday (Oct 11), as traders kept bets on a 25-basis-point Federal Reserve rate cut in November intact after producer prices data, while a slump in Tesla shares dragged on the Nasdaq. The Dow Jones Industrial Average rose 53.4 points, or 0.13 per cent, at the open…
Read MoreCapitaLand Ascendas Reit to divest industrial asset in Singapore at S$45.3 million premium
CAPITALAND Ascendas Reit (Clar) is divesting an industrial property at 21 Jalan Buroh in Singapore for S$112.8 million. This is nearly double the original purchase price of S$58.4 million, when the property was acquired in June 2006. It also represents a premium of S$45.3 million – or 67.1 per cent – to the average of…
Read MoreWells Fargo profit beats forecasts as provisions shrink, shares rise
WELLS Fargo’s profit beat analysts’ expectations in the third quarter, helped by resilience in wealth management and lower provisions for credit losses, which sent its shares up 3.5 per cent before the bell on Friday (Oct 11). The bank, however, forecast a bigger-than-expected 9 per cent drop in 2024 interest income on Friday following the…
Read MoreBlackRock hits US$11.5 trillion of assets as private markets grow
BLACKROCK pulled in US$160 billion of client cash to its long-term investment funds last quarter, pushing the world’s largest money manager to a record US$11.5 trillion of assets as it seeks to become a one-stop shop for stocks, bonds and, increasingly, private assets. Investors added US$97 billion to exchange-traded funds and US$63 billion to fixed-income…
Read MoreUOB launches career transition initiative, to reskill up to 500 employees
FROM the fourth quarter of 2024, up to 500 UOB employees in operations and administrative roles will be selected over the next two years to participate in the bank’s new career conversion programme. The initiative, known as the Better U Pivot Programme, was announced on Friday (Oct 11) at the sixth edition of the lender’s…
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