Posts by Yurie Miyazawa
Deutsche Bank’s profit streak ends with big lawsuit provision
DEUTSCHE Bank posted its first loss in four years in the second quarter after setting aside 1.3 billion euros (S$1.9 billion) as a provision for a protracted investor lawsuit over its Postbank acquisition. The loss at Germany’s largest lender broke a profit streak after 15 consecutive quarters in the black, in a setback for the…
Read MoreLamborghini unveils hybrid supercar in South Korea, sees strong sales
LAMBORGHINI forecast another year of strong sales in South Korea – where it posted record deliveries last year – as it introduced its new plug-in hybrid supercar to the country. South Korea “is a growing market that’s very important for us”, chief executive officer Stephan Winkelmann said in Seoul to promote Urus, the hybrid version…
Read MoreUS high-grade bond sales post biggest July in six years
BLUE-CHIP companies sold bonds this month at the fastest rate for any July in six years, harnessing strong demand from investors looking to lock in high yields before the Federal Reserve starts cutting rates. US investment-grade bond issuance has reached almost US$92.2 billion this month, the biggest July volume since US$123 billion was issued in…
Read MoreSingapore shares fall at Wednesday’s open; STI down 0.4%
SINGAPORE stocks opened weaker on Wednesday (Jul 24) following a mixed performance in the United States and Europe. The Straits Times Index (STI) was down 0.4 per cent or 12.57 points to 3,448.59 as at 9.03 am. Across the broader market, gainers outnumbered losers 61 to 43, after 38.8 million securities worth S$47.6 million changed…
Read MoreStocks to watch: Best World, HPH Trust, Sabana Reit, Manulife US Reit, Elite UK Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday (Jul 24): Best World International: The beauty products distributor has raised its stake in British beauty company Pedal Pulses to 59.9 per cent from 50 per cent. In a bourse announcement on Tuesday, the company announced that it has entered into…
Read MoreUK says banks must preserve access to cash after branch closures
FOURTEEN of the United Kingdom’s largest banks, including HSBC Holdings, Barclays and NatWest Group, must ensure local communities can still easily access cash, the country’s financial watchdog said, as a wave of local branch closures threaten vulnerable customers. The designated banks and building societies will be required to consider the potential impact of closing a…
Read MoreTesla’s profit falls short again in a weakened EV market
TESLA fell short of Wall Street profit estimates in the second quarter, extending a rocky start to the year marked by slower sales and mass firings across the company. It was the fourth consecutive miss for the electric-vehicle (EV) maker, which on Tuesday (Jul 23) reported adjusted earnings of 52 US cents a share, short…
Read MoreVisa slides after revenue at payments giant misses estimates
VISA slipped in late trading on Tuesday (Jul 23) after reporting quarterly revenue that just missed Wall Street estimates – a rarity for the world’s biggest payments network. Shares of San Francisco-based Visa declined 3 per cent to US$256.85 at 5.04 pm in New York. Net revenue for the fiscal third quarter ended Jun 30…
Read MoreGIC aims to bridge green assets funding gap with new initiative
Investment programme focuses on climate real assets that are past the laboratory stage but have yet to be scaled up for commercial demand SOVEREIGN wealth fund GIC has launched an investment programme to address the funding gap for green assets, such as sustainable steel and battery storage. The investment programme, launched in April, focuses…
Read MoreAirbus and Boeing snap up deals despite delivery delays
MORE plane orders flowed in at the Farnborough Airshow on Tuesday (Jul 23) despite supply chain pressures on jetmakers and complaints from airlines about delivery delays. Boeing announced deals with Qatar Airways and Macquarie Airfinance, while Airbus secured orders from Japan Airlines and Virgin Atlantic – although much of the business had already been flagged. …
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