Posts by Yurie Miyazawa
Australia’s elevated inflation suggests RBA to extend pause
AUSTRALIA’S inflation came in faster than expected in April, suggesting price pressures remain stubbornly strong and bolstering the case for the Reserve Bank of Australia (RBA) to keep interest rates at a 12-year high next month. The monthly consumer price indicator advanced 3.6 per cent from a year earlier, exceeding economists’ estimate of 3.4 per…
Read MoreHot stock: Yoma shares surge on heavy trading after company swings back into the black
SHARES of Yoma Strategic rose as much as 12.3 per cent in early trading on Wednesday (May 29), after the mainboard-listed company reported strong earnings. As at 9.45 am, the counter gained S$0.008 at S$0.073 with 35.3 million shares changing hands, as the most heavily traded security on the Singapore Exchange. The last time it…
Read MoreLenovo to issue US$2 billion of convertible bonds to Saudi’s Alat to repay debt
LENOVO said on Wednesday (May 29) it would issue US$2 billion worth of zero-coupon convertible bonds to Alat, and had signed a collaboration agreement with the Saudi Arabian company to set up a new manufacturing facility in the Middle East. The company is the latest to join a rush in Asia to raise capital through…
Read MoreLMIRT bags 2.5 trillion rupiah loan facility
Lippo Malls Indonesia Retail Trust (LMIRT) has obtained a secured amortising term loan facility of up to 2.5 trillion rupiah (S$209.5 million). The loan comes with an average life of about eight years based on the facility agreement dated May 28, 2024, said LMIRT’s manager on Wednesday (May 29). About 2.3 trillion rupiah of the…
Read MoreAmerican Airlines cuts profit outlook as commercial chief departs
AMERICAN Airlines disclosed the departure of its chief commercial officer and cut its profit guidance heading into the crucial summer travel season, dragging shares down across the US airline industry. Adjusted earnings will be US$1 to US$1.15 a share in the second quarter, down from a previous expectation of as much as US$1.45, according to…
Read MoreSiemens Energy’s Gamesa to cut 4,100 jobs, CEO says
SIEMENS Energy’s wind turbine division Siemens Gamesa is planning to cut 4,100 jobs or around 15 per cent of its workforce, the unit’s chief executive Jochen Eickholt said in an internal letter to staff seen by Reuters on Tuesday (May 28). “Our current situation demands adjustments that go beyond organisational changes. We have to adapt…
Read MoreOil up on prospect of Opec+ holding cuts, weaker US dollar
OIL prices rose by more than US$1 a barrel on Tuesday on the expectation that Opec+ will maintain crude supply curbs at its June 2 meeting, while a weaker US dollar made the commodity more attractive to holders of other currencies. The July contract for global benchmark Brent crude rose US$1.04, or 1.3 per cent,…
Read MoreRobinhood jumps on plan to buy back up to US$1 billion of shares
ROBINHOOD Markets jumped after the retail brokerage announced a plan to repurchase as much as US$1 billion of its own shares. The firm expects the buyback programme to kick off in the third quarter and take place over a two to three-year period, it said on Tuesday (May 28) in a filing. Shares in Robinhood…
Read MoreSingapore’s farming crunch has wider lesson: companies like grants, but prefer customers
SINGAPORE’S farms are finding it tough to turn a profit in spite of government aid. If the country is serious about its “30 by 30” target – to produce 30 per cent of domestic nutritional needs by 2030 – it must do more to boost demand.
Read MoreCampbell Soup to cut 415 jobs as it restructures its manufacturing plants
CAMPBELL Soup on Tuesday (May 28) said it plans to reduce the size of its Jeffersonville, Indiana site and close Tualatin, Oregon site, leading to 415 job cuts. It added these changes are part of its ongoing efforts to strengthen growth, improve return on invested capital and boost manufacturing and distribution network. The Goldfish crackers…
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