Posts by Yurie Miyazawa
Investors take long-term view as rate hike whipsaws Japan
This past week’s rate hike in Japan hammered the benchmark index the most in eight years. Despite the turmoil, some investors still have faith in the long-term outlook for the country’s stocks. The Bank of Japan’s (BOJ’s) decision on Wednesday (Jul 31) to raise rates to 0.25 per cent sent a wave of volatility through…
Read MoreMapletree Logistics Trust chairman increases interest at S$1.31 per unit
Institutions were net sellers of Singapore stocks over the five trading sessions to Aug 1, with S$115 million of net institutional outflow, following the similar pace of S$95 million of net outflow for the preceding five sessions to Jul 26. The five sessions to Aug 1 also saw 11 primary-listed companies conduct buybacks with a…
Read MoreSilicon Valley Bank’s former owner gains approval to end bankruptcy
SVB Financial Group, the former owner of failed Silicon Valley Bank (SVB), received a US judge’s permission on Friday (Aug 2) to turn over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring has made provision for the creation of a trust to pursue litigation against the US Federal Deposit Insurance Corporation (FDIC)…
Read MoreMore than 50 US lawmakers, 21 states back DOJ in TikTok lawsuit
A GROUP of 21 states and more than 50 United States lawmakers on Friday (Aug 2) backed the Justice Department (DOJ) in its defence of a law that requires China-based ByteDance to sell TikTok’s US assets by Jan 19 or face a ban. “TikTok is a threat to national security and consumer privacy,” said a…
Read MoreFreeport LNG nears end of expansion that will increase output
United States liquefied natural gas (LNG) developer Freeport LNG expects to increase production beyond its 15.3 million metric tonne per annum (MTPA) capacity as it wraps up an expansion project. Freeport LNG operates the second-largest US processing plant and its ups and downs have led to gas-price swings in the US and Europe. “We have…
Read MoreData provider Dun & Bradstreet explores sale: sources
DUN & Bradstreet, a US data and analytics provider that has a market value of more than US$9 billion including debt, is exploring options including a potential sale, sources familiar with the matter said on Friday (Aug 2). The Jacksonville, Florida-based company is working with investment bankers at Bank of America to evaluate takeover interest…
Read MoreGoogle pulls AI ad that irked some Olympics viewers
Google confirmed on Friday (Aug 2) that it had pulled an ad for its Gemini artificial intelligence (AI) after it landed flat with some Olympics viewers. The “Dear Sydney” ad, intended to tout the capabilities of Gemini AI, featured a dad warmly describing how the tool wrote his daughter a fan letter from her to…
Read MoreUS: Dow ends 2.1% lower for the week after poor jobs data
WALL Street stocks tumbled on Friday (Aug 2) following a disappointing US jobs report that raised recession worries while also boosting the odds of interest rate cuts by the Fed. The US economy added 114,000 jobs last month, a drop from the prior month and fewer than expected, while the jobless rate rose to 4.3…
Read MoreIsetan Singapore narrows H1 loss to S$126,000 but faces lower sales
The latest set of results comes after a major shareholder proposed to take Isetan private JAPANESE retailer Isetan Singapore recorded a net loss of S$126,000 for the six months ended June, narrower than the loss of S$681,000 in the same period last year, it announced on Friday (Aug 2). However, revenue was down 8.9 per…
Read MoreNetLink NBN Trust records 9.1% lower profit after tax in Q1 at S$25.7 million
FIBRE-OPTIC owner NetLink NBN Trust posted a decline in its profit after tax by 9.1 per cent to S$25.7 million for the first quarter ended Jun 30, down from S$28.2 million in the same period last year. In a bourse filing on Friday (Aug 2), NetLink’s trustee-manager said this was mainly due to lower earnings…
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