Posts by Yurie Miyazawa
Credit Suisse to pay US$511 million as part of agreement with US DOJ in tax evasion case
A CREDIT Suisse unit on Monday pleaded guilty to US charges of helping ultra-wealthy Americans evade taxes and will pay a fine of more than US$510 million, the US Department of Justice said on Monday. Credit Suisse Services AG pleaded guilty and was sentenced on Monday for conspiring to hide more than US$4 billion from…
Read MoreOil ends at four-year lows as Opec+ accelerates output hikes
[NEW YORK] Oil fell by more than US$1 a barrel on Monday to settle at over four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain. Brent crude futures settled at US$60.23 a barrel, down US$1.06, or 1.7 per cent.…
Read MoreEurope: Stoxx 600 posts longest winning streak in nearly four years; focus on Fed, tariff updates
EUROPEAN shares extended their winning streak on Monday, with investors focusing on developments from the trade war alongside the US Federal Reserve’s policy meeting later this week. The pan-European Stoxx 600 index ended 0.16 per cent higher at 537.31 points to mark its 10th consecutive session of gains, its longest winning streak since August 2021. Germany’s main…
Read MoreAudi keeps outlook after Q1 sales rise, but tariff impact not included
[BERLIN] Volkswagen’s premium brand Audi on Monday (May 5) kept its full-year guidance, with the caveat that any impact from US tariffs was not included, after its first-quarter revenue rose 12.4 per cent on higher sales of electric models. Quarterly revenue rose to 15.43 billion euros (S$22.52 billion) in January-March, compared with 13.73 billion a…
Read MoreBank of Japan sees window for rate hikes narrowing but not closed yet
[TOKYO] The Bank of Japan’s rate-hike cycle is facing its biggest test since Governor Kazuo Ueda took the helm two years ago, with US President Donald Trump’s tariffs rapidly narrowing the window for further increases in still-low borrowing costs. After the BOJ’s decision on Thursday to keep interest rates steady at 0.5 per cent, Ueda…
Read MoreSingapore’s STI little changed in early trade on Monday after PAP win at GE2025
[SINGAPORE] Singapore shares were little changed in early trade the first trading day after the country’s election wrapped up. As at 9.28am, the Straits Times Index (STI) opened 0.09 per cent, or 3.36 points higher at 3,841.79, on the first trading day after elections. Across the broader market, gainers outnumbered losers 107 to 79 after…
Read MoreUS prepares air-traffic overhaul as vulnerabilities rock Newark
[WASHINGTON] The Trump administration’s plan to modernise the ageing US air traffic-control system has gained fresh urgency after vulnerabilities with the existing system pushed United Airlines Holdings to cut flights at the second-busiest hub serving New York City. Transportation Secretary Sean Duffy aims to release his proposal this coming week for a new system for…
Read MoreUS dollar’s decline is fuelling dislocations across Asian currencies
[HONG KONG] Asian currencies turbocharged by US dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains. The Hong Kong Monetary Authority on Friday (May 2) sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank…
Read MoreS&P 500’s relief rally likely to stall
THE S&P 500 rebounded over 14 per cent from a swing low of 4,835, recorded on Apr 7, 2025, after a period of panic selling triggered by aggressive reciprocal tariff proposals from the US towards its trading partners. Several factors have contributed to the current relief rally for the index. Firstly, the Trump administration stepped…
Read More‘Set up the robot and go for coffee’: ISOTeam bets on automation in its next stage of growth
[SINGAPORE] Anthony Koh may already be 59 years old, but the chief executive officer of ISOTeam is still enrolling himself in artificial intelligence (AI) courses. The head of the facilities management company is banking on automating his workforce through the use of drones, robots and AI to help take his company to the next level…
Read More