Posts by Yurie Miyazawa
Gold holds steady, on track for first weekly gain in four
GOLD prices held steady on Friday, and were on track for their first weekly gain in four, despite falling over 1 per cent in the previous session after the US Federal Reserve projected just one interest rate cut this year. Spot gold was unchanged at US$2,303.43 per ounce, as of 0134 GMT. Bullion gained 0.5 per cent so…
Read MoreUBS taps China over Citadel Securities on Credit Suisse unit
UBS Group has entered final negotiations with a Beijing-backed fund over the sale of Credit Suisse’s money-losing China venture after talks with Citadel Securities stalled, according to people familiar with the matter. UBS is now in exclusive talks with its Chinese partner, Beijing State-Owned Assets Management, on the deal, the people said, asking not to…
Read MoreStocks to watch: Mapletree Logistics Trust, Soilbuild
THE following companies saw new developments that may affect trading of their securities on Friday (Jun 14): Mapletree Logistics Trust: The trust’s manager announced on Thursday its proposed divestment of 119 Neythal Road in Singapore for S$13.8 million. The sale price is 34 per cent above the property’s latest valuation of S$10.3 million as at…
Read MoreApple sued by female employees claiming pay discrimination
APPLE was sued by two female employees who claim it “systemically” pays women less than their male counterparts for similar work, and who are seeking to represent thousands of other women facing the same alleged discrimination. They claim that Apple, of Cupertino, California, determined starting salaries before 2018 by asking employees for their compensation history…
Read MoreOil edges higher as Opec comments feed demand hopes
OIL prices rose slightly on Thursday in up-and-down trade, supported by an Opec forecast for demand growth and as data showing an US easing labour market and slowing inflation which stoked hopes for Federal Reserve rate cuts despite recent comments form Fed officials. Brent crude futures settled at US$82.75 a barrel, up 15 cents, or 0.2…
Read MoreChina’s Chery Auto: EU factory will help mitigate EV tariffs
CHERY Auto, China’s largest automaker by export volume, expects its planned production in Europe to help offset the impact of European Union tariffs on imports of China-made electric vehicles, a senior executive said on Thursday (Jun 13). Having local production “should help us mitigate some of the impact” of duties, Charlie Zhang, vice-president of Chery…
Read MoreBoeing investigates quality problem on undelivered 787s, sources say
BOEING is investigating a new quality problem with its 787 Dreamliner after discovering that hundreds of fasteners have been incorrectly installed on the fuselages of some undelivered 787 Dreamliner jets, two people familiar with the matter said. The latest in a series of manufacturing snags affecting the US planemaker involves incorrect “torquing” or tightening in…
Read MoreS Korea extends short-selling ban, threatens life in jail for illegal bets
SOUTH Korea is extending a ban on stock short selling to Mar 30 next year and planning harsher penalties for illegal trades. “If short selling is resumed without a monitoring system in place, there is the risk that massive illegal activities may be repeated,” said Kim Soyoung, vice-chair at the Financial Services Commission. “It will…
Read MoreLloyds to move thousands back into refurbished City of London HQ
LLOYDS Banking Group is moving thousands of staffers back into a refurbished building in the heart of the City of London as the lender looks to reduce its office footprint by the end of this year. The lender is planning to reopen its offices at 33 Old Broad Street in November after spending 18…
Read MoreGoldman Sachs aims to double lending to wealthy private bank clients
GOLDMAN Sachs aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding US$10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi Somaiya, Goldman’s global head of private banking,…
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