Posts by Yurie Miyazawa
Hewlett Packard Enterprise raises annual profit forecast on AI strength
HEWLETT Packard Enterprise (HPE) raised its annual profit forecast on Wednesday (Sep 4), as demand for artificial intelligence (AI) servers continues to pick up owing to higher investments in AI infrastructure by businesses. However, shares of HPE fell nearly 3 per cent in extended trading. Michael Ashley Schulman, chief investment officer at Running Point Capital,…
Read MoreSingapore’s Nasdaq-listed companies in the news for all the wrong reasons
NASDAQ-LISTED Singapore companies have been in the news recently for all the wrong reasons. The recent offer made by financial comparison platform MoneyHero for rival MoneySmart came as a surprise to everyone – including MoneySmart. MoneySmart’s founder and chief executive officer Vinod Nair said that the offer was “unsolicited”, and the company followed up with…
Read MoreNeraTel receives mandatory offer from Ennoconn Corp at S$0.075 per share
The shares acquired will be held by Ennoconn Solutions Singapore, a wholly owned subsidiary NERA Telecommunications (NeraTel) has received an offer from Taiwan-listed Ennoconn Corporation for all the shares in the company it does not own at S$0.075 apiece, the company announced on Wednesday (Sep 4). This comes after Ennoconn Corporation on Wednesday entered into…
Read MoreGoTo exits tough Vietnam market to focus on reaching profit
RIDE-HAILING provider GoTo Group is exiting Vietnam, abandoning a country where it’s been struggling to focus on reaching profitability in its main operations in Indonesia and Singapore. The company’s Gojek brand will close its Vietnam business effective Sep 16, GoTo said on Wednesday (Sep 4) in a statement. The unit, which offers ride-hailing, food delivery…
Read MoreSingapore stocks fall as markets across Asia plunge; STI drops 1.1%
SINGAPORE shares closed lower on Wednesday (Sep 4), tracking a broader decline among regional exchanges. Markets across the region plunged after US tech stocks took a beating on Tuesday. Japan’s Nikkei 225 dropped by 4.2 per cent, its worst one-day loss since August, while South Korea’s Kospi fell 3.2 per cent. Hong Kong’s…
Read MoreAll COE premiums up; mainstream car and motorcycle categories lead the way
IN THE results of September’s first round of Certificate of Entitlement (COE) bidding on Wednesday (Sep 4), premiums for all types of vehicles rose, with the mainstream passenger car and motorcycle categories posting the largest increases. The price for Category A, for mainstream cars, rose 2.8 per cent or S$2,590 to S$96,490. The Category A…
Read MoreHSBC ordered by UK to review data handling after years of lapses
This comes three years after regulators flagged shortcomings within nine areas of HSBC’s risk management capabilities UK regulators have ordered HSBC Holdings to review how it collects and monitors the vast reams of data that underpin the firm’s risk management systems within investment banking and trading. The Bank of England’s Prudential Regulation Authority instructed the…
Read MoreBitcoin touches one-month low as glum traders hedge for payrolls
BITCOIN flirted with a one-month low amid a wider retreat from riskier investments in global markets due to fears about the economic outlook. The largest digital asset slid more than 4 per cent at one point on Wednesday (Sep 4) before paring a part of the decline to change hands at US$56,635 as of 12.45…
Read MoreBoeing steps up 737 deliveries to China in respite for new CEO
BOEING delivered the most 737 Max jets to China in almost six years, offering a glimmer of progress to new chief executive officer Kelly Ortberg as he works to clear a stockpile of completed aircraft and bolster cash at the embattled planemaker. The estimated nine handovers in August eclipsed every month since December 2018, based…
Read MoreGlobal family office wealth to nearly double to US$9.5 trillion by 2030: Deloitte
GLOBAL family offices are booming, with significant growth in North America and the Asia-Pacific region expected in the next six years. Total estimated family wealth stands at US$5.5 trillion currently, up 67 per cent from the US$3.3 trillion five years ago, based on Deloitte’s report released on Wednesday (Sep 4). It is projected to grow…
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