Posts by Yurie Miyazawa
Elon Musk, Tesla win dismissal of lawsuit claiming they rigged dogecoin
ELON Musk and his electric vehicle company Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses. The decision was issued on Thursday night by US District Judge Alvin Hellerstein in Manhattan. Investors accused Musk of using…
Read MoreUS: Stocks close mixed but Dow hits new record
WALL Street had a mixed showing on Thursday with the Dow reaching a fresh record after economic data indicating stronger second quarter GDP growth than initially estimated. The Dow Jones Industrial Average jumped by 0.6 per cent to 41,335.05, while the broad-based S&P 500 was flat at 5,591.96. The tech-focused Nasdaq Composite Index slipped 0.2…
Read MoreShell plans wide cuts in oil exploration division, sources say
Shell plans to scale back its oil and gas exploration and development workforce by 20 per cent as CEO Wael Sawan widens his cost-saving drive to the highly profitable division after deep cuts in renewables and low-carbon businesses, company sources said. The restructuring in the exploration and wells development and subsurface units will see hundreds…
Read MoreTan Chong sinks into the red in H1 with HK$35.9 million net loss
AUTO dealer Tan Chong International posted a net loss of HK$35.9 million (S$6 million) for the first half of its 2024 fiscal year ended Jun 30 – a reversal from a net profit of HK$126.9 million over the same period a year ago. Revenue dropped 9.9 per cent to HK$6.6 billion from HK$7.3 billion over…
Read MoreRetail offering of 99 Speed Mart’s IPO, Malaysia’s largest in seven years, oversubscribed
THE retail offering for the initial public offering (IPO) of Malaysia’s top mini-market chain 99 Speed Mart Retail has been oversubscribed by 3.04 times, the issue’s manager said on Thursday (Aug 29). The company is offering up to RM2.36 billion (S$707.6 million) worth of shares, out of RM346.5 million was earmarked for retail investors, all…
Read MoreTata said to shelve media unit IPO after buying out Temasek
The Indian conglomerate seeks to expand the business ahead of any potential listing in the future Tata Group has shelved plans for an initial public offering of its entertainment content distribution platform after buying out minority investors, according to people familiar with the matter. The Indian conglomerate has opted to keep Tata Play as a…
Read MoreTata said to shelve media unit IPO after buying out Temasek
The Indian conglomerate seeks to expand the business ahead of any potential listing in the future Tata Group has shelved plans for an initial public offering of its entertainment content distribution platform after buying out minority investors, according to people familiar with the matter. The Indian conglomerate has opted to keep Tata Play as a…
Read MoreTata said to shelve media unit IPO after buying out Temasek stake
The Indian conglomerate seeks to expand the business ahead of any potential listing in the future Tata Group has shelved plans for an initial public offering of its entertainment content distribution platform after buying out minority investors, according to people familiar with the matter. The Indian conglomerate has opted to keep Tata Play as a…
Read MoreGold prices firm with US inflation data in focus
GOLD prices edged up on Thursday, aided by a weaker dollar and hopes of a Federal Reserve interest rate cut, while focus turned to a key US inflation print. Spot gold was up 0.5 per cent to US$2,513.77 per ounce, as of 0250 GMT. Bullion hit a record high of US$2,531.60 on Aug 20 and…
Read MoreFederal Reserve official says it is ‘time to move’ on rate cuts, but wants to be sure
FEDERAL Reserve Bank of Atlanta President Raphael Bostic on Wednesday said that with inflation down farther and the unemployment rate up more than he anticipated, it may be “time to move” on rate cuts, but he wants to be sure before pulling that trigger. Bostic said he will want to see confirmation from the monthly…
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