Posts by Yurie Miyazawa
Ikea will test smaller stores in China to woo cautious shoppers
IKEA will add more smaller outlets across China, as the furniture giant known for sprawling big-box stores experiments with more accessible retail formats amid an economic slowdown and surging local competition. “We have learned a lot about how to meet customers,” Sara Del Fabbro, deputy retail manager of Ingka Group, Ikea’s largest franchisee, said. “Even…
Read MoreGold hovers near record high as Fed’s Powell grabs limelight
GOLD prices steadied on Thursday (Sep 26) after hitting a record high on the previous session, aided by the expectations for another big rate cut by the US Federal Reserve, while traders await Federal Reserve chair Jerome Powell’s comments for further hints on the policy outlook. Spot gold held its ground at US$2,656.60 per ounce,…
Read MoreBank of Japan policymakers divided on future rate hike pace, July minutes show
BANK of Japan policymakers were divided on how quickly the central bank should raise interest rates further, minutes of the bank’s July meeting showed, highlighting uncertainty on the timing of the next increase in borrowing costs. At the July meeting, the BOJ raised short-term interest rates to 0.25 per cent and unveiled a detailed plan…
Read MoreStocks to watch: First Sponsor, Dyna-Mac
THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 26): First Sponsor: The mainboard-listed property developer has raised gross proceeds of about S$244 million from its rights issue. It plans to fund expansion plans, and strengthen its financial position and capital base with the net proceeds. The securities…
Read MorePayPal expands cryptocurrency offerings to US business accounts
PAYPAL Holdings will now permit merchants to buy, hold and sell cryptocurrency from their business accounts, expanding on the payments firm’s already-available consumer offerings. PayPal has allowed consumers to buy, hold and sell digital crypto via their PayPal and Venmo accounts since 2020, and then further committed to digital currency with the launch of its…
Read MoreUS: Dow, S&P 500 retreat from records ahead of inflation data
THE Dow and S&P 500 fell on Wednesday, retreating from records amid a banner period for markets ahead of key US inflation data. Analysts have described the market as primed for a “consolidation” period, meaning a pause or pullback after surging in the wake of the Federal Reserve’s pivot a week ago to cut interest…
Read MoreGlobal debt hits record US$312 trillion, climate finance a challenge, banking trade group says
Global debt hit a record high of US$312 trillion at the end of the second quarter, driven by borrowing in the United States and China, while a key debt ratio in emerging markets also scaled a fresh peak, data from a banking trade group showed. The Institute of International Finance (IIF), a financial services trade…
Read MoreSingapore’s high costs, Asia demand-supply gap see closure of US firm’s Jurong Island chemical plant
The company will continue supplying alkylphenol from other manufacturing facilities in Europe and the Americas CHEMICALS company SI Group will close its alkylphenol manufacturing facility on Jurong Island in the second half of 2025, it said in a media release on Wednesday (Sep 25). The company attributed the closure to high costs in Singapore and “substantial…
Read MoreUS: Wall St opens subdued as investors await Fed rate clues, data
Wall Street had a subdued start on Wednesday (Sep 25), with investors awaiting further indicators on the state of the economy and potential interest rate reductions, a week after the Federal Reserve initiated its policy relaxation cycle. The Dow Jones Industrial Average rose 27.9 points, or 0.07 per cent, at the open to 42,236.09. The…
Read MoreIndia asks Tamil Nadu state to intervene in Samsung workers strike, government source says
Labour minister Mansukh Mandaviya has urged the state government to intervene for an “early and amicable” resolution India’s federal labour minister asked the southern state of Tamil Nadu to resolve a weeks-long strike by workers at Samsung Electronics, a government source said on Wednesday (Sep 25). The protests – the biggest such in India in…
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