Posts by Yurie Miyazawa
US: Wall St opens higher on AI euphoria after Micron’s upbeat forecast
Wall Street’s main indexes opened higher on Thursday (Sep 26), with the benchmark S&P 500 at a record high, as Micron’s upbeat forecast revived the frenzy around artificial intelligence, while investors assessed a softer-than-expected weekly jobless claims report. The Dow Jones Industrial Average rose 198.7 points, or 0.47 per cent, at the open to 42,113.42.…
Read MoreSingapore entertainment group Neon mulls IPO next year
IMMERSIVE entertainment group Neon is considering an initial public offering (IPO) in Singapore that may raise as much as S$500 million, sources said. The company, which is backed by Temasek’s 65 Equity Partners, has interviewed financial advisers for a potential offering that could take place as soon as next year, they added, asking not to…
Read MoreCommerzbank to begin talks with UniCredit as it woos investors with profit goals
Commerzbank will hold a first round of talks with UniCredit on Friday (Sep 27) as the Italian lender presses for a possible tie-up, the German bank’s designated CEO, Bettina Orlopp, said on Thursday (Sep 26). UniCredit earlier this month revealed it had bought a 9 per cent stake in Commerzbank, plans to buy more shares…
Read MoreNissan to buy back 79.9 billion yen in shares in Renault realignment
NISSAN Motor will buy back 79.9 billion yen (S$711 million) worth of its shares from Renault, part of an agreement to rebalance its alliance with the French carmaker. The Japanese company plans to acquire around 195.5 million shares using its net cash position, it said on Thursday (Sep 26). The deal hands Renault additional funds…
Read MoreOlympics caterer Sodexo mulls acquisition of Aramark
FRENCH food catering company Sodexo has been exploring a potential acquisition of US rival Aramark as it seeks growth overseas, sources said. The caterer has been discussing a possible purchase of Aramark on and off in recent months, they noted, asking not to be identified because the information is private. Shares of Aramark jumped as…
Read MoreThames Water hit by more rating agency downgrades as cash crunch looms
If a majority of its creditors cannot agree on releasing reserves early, the company could come to a standstill at the end of December THAMES Water’s debt was further downgraded by two credit ratings agencies, as the troubled utility company faces a potential liquidity crunch. S&P Ratings and Moody’s both slashed the UK water provider’s…
Read More✂️ Time to buy more stocks? Lessons from past Fed cuts
📚 Interest rate theories After a brief calm in the markets, last week came a burst of activity. Stock markets surged, with some breaking new records. Bitcoin rallied. US companies rushed to raise funds as bond yields fell. All these happened after the US Federal Reserve cut interest rates. It’s a significant event – since…
Read MoreUOL, SingLand in preliminary talks to acquire half stake in Sydney building
PROPERTY developers UOL and Singapore Land (SingLand) are in preliminary confidential discussions with an unnamed party on the potential acquisition of a 50 per cent stake in “an office and retail building” in Sydney, Australia. Addressing articles by Australian media which they were recently “made aware of”, both companies on Thursday (Sep 26) said discussions…
Read MoreQantas deceived almost one million passengers with fake flights
QANTAS Airways’s ghost-flight scandal misled almost one million customers booked on tens of thousands of non-existent services, according to court documents that reveal the scale of the misconduct and the airline’s awareness of the problem. Qantas settled the lawsuit last year, agreeing to pay A$120 million (S$106 million) in fines and compensation for selling tickets…
Read MoreSouth Korean battery maker SK On to cut workforce amid challenging EV market
SOUTH Korean battery maker SK On said on Thursday (Sep 26) that it plans to introduce voluntary measures aimed at reducing its workforce, as the company seeks to improve efficiency and remain competitive in a challenging electric vehicle (EV) market. SK On, the battery unit of energy group SK Innovation, said it plans to offer…
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