Posts by Yurie Miyazawa
Europe: Shares lose ground on real estate, tech losses
EUROPEAN shares ended lower on Wednesday (Jun 19), pressured by losses in real estate and technology stocks, while UK stocks were buoyed by metal miners as investors digested its inflation data. The pan-European Stoxx 600 closed down almost 0.2 per cent, with the real estate sector falling 1.2 per cent and technology stocks dropping 1.1…
Read MoreJapan’s stock market revival could hold lessons for Singapore despite fundamental differences
SINGAPORE’S stock market has been languishing in recent years amid low liquidity and a dearth of new listings. This is in stark contrast to Japan’s public market, for example, where fiscal reforms have sparked a resurgence of interest from investors. Japan’s benchmark Nikkei 225 index notably hit a 34-year high earlier this year and has…
Read MoreKitKat maker sees chocolate demand ebbing as cocoa costs creep in
CONSUMERS will probably cut back on chocolate as this year’s historic cocoa rally gradually trickles down to manufacturers and forces them to raise prices, a Nestle executive warned. Cocoa futures have more than doubled this year on the back of a huge global shortage, making it more expensive to produce confectionery. But shoppers are yet…
Read MoreAmazon invests US$11 billion to expand cloud and logistics in Germany
German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year Amazon will invest US$10.75 billion as demand for its cloud services and retail goods in Europe’s biggest economy keeps growing, the US technology and retail company said on Wednesday (Jun 19). The greater part of the sum, 8.8 billion…
Read MoreUK probes Hewlett Packard Enterprise’s US$14 billion deal for Juniper Networks
The Competition and Markets Authority has until Aug 14 to decide whether it would refer the deal to a deeper probe Britain’s competition regulator said on Wednesday (Jun 19) it was investigating whether Hewlett Packard Enterprise’s planned US$14 billion acquisition of Juniper Networks would result in competition concerns in the country. The Competition and Markets…
Read MoreSTI inches up 0.1% on Wednesday, tracking US rally
SHARES in Singapore continued its rally on Wednesday (June 19), tracking overnight gains in the US. The S&P 500 and Nasdaq hit new records the night before, with chip company Nvidia overtaking Microsoft to become the world’s most valuable publicly traded company. In Singapore, the benchmark Straits Times Index (STI) rose 0.1 per cent or…
Read MoreSwiss regulator rules out UBS antitrust action over Credit Suisse deal
Switzerland’s financial regulator ruled on Wednesday (Jun 19) that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country’s antitrust watchdog that it merited further scrutiny. There has been vigorous debate in Switzerland about the size and power of UBS, which analysts say has a dominant position in…
Read MoreTrafigura proposes employee share clawbacks for confidentiality breaches: sources
COMMODITY trader Trafigura sent a letter last week to current and former employees proposing share clawbacks for breaches of confidentiality and its code of conduct, two sources with knowledge of the matter told Reuters. Clawbacks are typically used by financial firms which require money already paid out to employees to be returned in the event…
Read MoreChinese automakers seek retaliatory tariffs on EU cars, state media reports
CHINESE automakers have urged Beijing to retaliate against Brussels’ decision to place curbs on Chinese electric vehicle (EV) exports by raising tariffs on imported European petrol-powered cars, the state-backed Global Times newspaper said on Wednesday (Jun 19). In a closed-door meeting on Tuesday also attended by European automakers, Chinese car companies and industry groups suggested…
Read MoreTop Glove shares climb as glove maker swings back into the black with RM50.7 million profit
SHARES of Top Glove Corporation soared after the Malaysian glove maker on Wednesday (Jun 19) reported a net profit of RM50.7 million (S$14.5 million) for the third quarter ended May 31, 2024, reversing from a loss of RM130.6 million in the same period the year before. After the announcement, the company’s on the Singapore Exchange…
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