Posts by Yurie Miyazawa
Saudi Aramco shares trade higher after share offering
Saudi Aramco’s shares gained on Sunday (Jun 9), the first trading day after a secondary share offering expected to raise at least US$11.2 billion. The shares opened at 27.95 riyals a share, after closing the previous session on Thursday at 28.3 riyals, but climbed to 28.35 riyals by 0730 GMT. The secondary share sale’s final…
Read MoreNvidia hitting US$3t propels Jensen Huang’s wealth above Michael Dell’s
Nvidia’s Jensen Huang has steadily climbed the ranks of the world’s wealthiest as the market value of his computer-chip maker touches $3 trillion. Huang hit another milestone on Friday (Jun 7), passing personal computer pioneer Michael Dell to become the world’s 13th-richest person with a net worth of US$106.1 billion, according to the Bloomberg Billionaires…
Read MoreNvidia hitting US$3 trillion propels Jensen Huang’s wealth above Michael Dell’s
Nvidia’s Jensen Huang has steadily climbed the ranks of the world’s wealthiest as the market value of his computer-chip maker touches US$3 trillion. Huang hit another milestone on Friday (Jun 7), passing personal computer pioneer Michael Dell to become the world’s 13th-richest person with a net worth of US$106.1 billion, according to the Bloomberg Billionaires…
Read MoreReal estate directors building company stakes
INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions through to Jun 6, with S$106.8 million of net institutional outflow, as 17 primary-listed companies conducted buybacks with a total consideration of S$55.8 million. Most of the net institutional outflow was on the back of MSCI Singapore rebalancing on May 31, with five…
Read MoreBerkshire buys additional 2.6 million shares in Occidental Petroleum, filing shows
Warren Buffett’s Berkshire Hathaway bought around 2.6 million shares of common stock in Occidental Petroleum over Jun 5 to 7, according to a US securities filing. Buffett’s company bought additional shares in Occidental’s common stock for more than US$150 million and now owns about 250.6 million shares in the energy producer. Occidental shares closed at…
Read MoreThe banks that hold most money in Singapore laundering scandal
In a Singapore courtroom on Friday (Jun 7), the last of those arrested for their involvement in the island nation’s biggest laundering case pleaded guilty, paving the way for the next steps in the S$3 billion scandal. The city-state must now decide what to do with a fortune in forfeited assets, from luxury properties to…
Read MoreCathay pilot training incidents probed by US aviation regulator
US aviation safety regulators are investigating claims that pilot trainees for Cathay Pacific Airways at a US flight school were involved in training mishaps that were not properly reported. The US Federal Aviation Administration is probing the alleged incidents, the agency said on Friday (Jun 7) in a statement to Bloomberg. It did not provide…
Read MoreOil dips on deflated US interest rate cut expectations, Opec+ decision
Oil prices edged down on Friday (Jun 7) and posted a third straight weekly loss as investors weighed Opec+ reassurances against the latest US jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Brent crude futures settled US$0.25 lower at US$79.62 a barrel, while US West Texas Intermediate crude (WTI)…
Read MoreBanks say growing reliance on Big Tech for AI carries new risks
THE boom in artificial intelligence will increase banks’ dependence on big US tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud and money-laundering – has soared since the launch of OpenAI’s viral chatbot ChatGPT in late…
Read MoreShein’s pre-IPO charm offensive hits roadblocks in Europe
AS ONLINE fast-fashion retailer Shein ramps up its pre-IPO charm offensive in Britain, pushback is growing too from Europe’s retail industry and lawmakers. As citizens of 27 countries vote in European Union elections, European manufacturers of fabric, clothes, leather goods and shoes this week called on future EU policymakers to protect the 1.5 million jobs…
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