Yellen says Japan explained 2022 FX intervention, Nikkei reports
TOKYO : U.S. Treasury Secretary Janet Yellen said Japan had explained its intervention into the currency market in 2022, the Nikkei Business daily reported on Saturday."The Japanese government did explain to us that they saw volatility," Yellen told the Nikkei, referring to Japan's fo ...
Historic river parade launches Paris Olympics
A HISTORIC boat parade down the River Seine launched the Paris Olympics with spectacular French flair Friday, as the City of Light...
Japan touts G20 reaffirmation of forex commitments as key achievement
RIO DE JANEIRO : Japan sees the reaffirmation in the latest G20 joint statement of existing commitments against excessive foreign exchange volatility as one of the major achievements, Finance Minister Shunichi Suzuki said on Friday."The inclusion of the reaffirmed commitments in the joint state ...
SpaceX, NASA to launch Crew-9 mission next month
SpaceX and NASA said on Friday they plan to launch the space agency's Crew-9 mission to the International Space Station no earlier than Aug. 18.
Commentary: What's behind the concern over Allianz's bid for Income Insurance?
Singapore is better served by an Income Insurance that puts people before profits, not profits before people, says former NTUC Income CEO Tan Suee Chieh on the Allianz deal.
'A lot of uncertainty': Former, current employees on Citi layoffs in Singapore
Citi employees in Singapore have gone through three rounds of layoffs in six months since the US bank announced a major restructuring last September.
Serving up Singaporean flavours in London
Elysia Tan - [LONDON] Since opening in February, London restaurant Singapulah has not just brought a taste of Singapore to the British capital, but also...
Michigan state pension fund makes $6.6 million bitcoin ETF investment
The State of Michigan Retirement System, which oversees some $143.9 million in pension fund assets for state employees, has invested $6.6 million in the ARK 21Shares Bitcoin ETF, it disclosed in a regulatory filing on Friday. This marks the second confirmed investment by a pension fund in the spot b ...
Paris Olympics broadcasters diverge on AI approach
The Paris Olympics will be a showcase of generative AI for American viewers but European audiences won't see a similar approach, a contrast that reflects how global media companies are deliberating over the use of the technology.Comcast's NBCUniversal is diving into AI for its U.S. broadca ...
Amazon under second investigation in Milan for tax evasion, sources say
MILAN : An Italian unit of Amazon is being investigated by Milan prosecutors for suspected tax evasion, two sources said on Friday, but the inquiry was not linked to a multi-million euro seizure from another of the group's Italian units this week.Italy's tax police on Tuesday seized some 1 ...
Dollar treads water after tame US inflation report, yen rally stalls
NEW YORK/LONDON :The dollar eased fractionally alongside Treasury yields after the release of tame U.S. inflation data that is unlikely to deflect the Federal Reserve from adopting a less restrictive monetary policy in the coming months.The Commerce Department's June personal consumption expend ...
Fed gets good news on inflation as data bolsters case for September rate cut
US Federal Reserve policymakers on Friday (Jul 26) got fresh evidence of progress on inflation, fuelling expectations they will use their meeting next week to signal they could start cutting borrowing costs in September. The personal consumption expenditures (PCE) price index edged up just 0.1 per c ...
Apple signs on to voluntary US scheme to manage AI risks, White House says
WASHINGTON : Apple Inc has signed U.S. President Joe Biden's voluntary commitments governing artificial intelligence (AI), joining 15 other firms that have committed to ensuring that AI's power is not used for destructive purposes, the White House said on Friday.The original commitments, a ...
Parkway Life Reit H1 2024 DPU rises 3.5% despite fall in net property income
Benjamin Cher - PARKWAY Life Real Estate Investment Trust (Reit) posted a 3.5 per cent rise in distribution per unit (DPU) to S$0.0754 for its...
Microsoft's LinkedIn settles advertisers' lawsuit over alleged overcharges
:LinkedIn agreed to pay $6.625 million to settle a proposed class action accusing the Microsoft unit of overcharging advertisers by inflating how many people watched video ads on its platform.A preliminary settlement was filed late on Thursday in San Jose, California federal court, and requires appr ...
Microsoft's LinkedIn settles lawsuit claiming it overcharged advertisers
LinkedIn agreed to pay $6.625 million to settle a proposed class action accusing the Microsoft unit of overcharging advertisers by inflating how many people watched video ads on its platform.A preliminary settlement was filed late Thursday in San Jose, California federal court, and requires approval ...
US: Wall St opens strong as megacaps recover; inflation data in focus
Wall Street’s main indexes opened higher on Friday (Jul 26), with the Nasdaq taking the lead as most megacap tech and chip...
Private equity giant Apollo invests $700 million in Sony Music
Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in "high grade" alternative assets.Apollo did not reveal the terms of the deal with Sony, which works with artists such as ...
US equity funds attract inflows, defying a tech selloff
U.S. investors continued to pump money into equity funds in the seven days to July 24, shrugging off a technology sector selloff to focus on robust corporate earnings and the possibility of upcoming Federal Reserve interest rate cuts.According to LSEG data, investors acquired U.S. equity funds worth ...
Global equity funds draw fifth weekly inflow on earnings hopes
Global equity funds witnessed fresh investments in the week through July 24 despite a selloff in leading technology stocks as investors remained optimistic about a still-strong second-quarter earnings season, and potential Fed rate cuts.According to LSEG data, investors snapped up global equity fund ...
Fed’s preferred inflation gauge rose at mild pace in June
Bloomberg - The Federal Reserve’s preferred measure of underlying US inflation rose at a mild pace in June and consumer spending remained firm, encouraging signs for officials looking to cool inflation without breaking the economy. The so-called core personal consumption expenditures price index, which strips ...
GKE Corp reports FY2024 earnings of $4.3 mil, 10.1% higher y-o-y
Felicia Tan - GKE Corporation has reported earnings of $4.3 million for the FY2024 ended May 31, 10.1% higher y-o-y. Earnings per share (EPS) stood at 0.56 cents. Revenue rose by 1.5% y-o-y to $110.6 million. The warehousing and logistics segment in Singapore, comprising the relatively higher-margin specialty che ...
Chinese EV battery maker CATL posts 13.4% jump in second-quarter profit
BEIJING : Chinese electric vehicle battery giant CATL's second-quarter net profit jumped 13.4 per cent year on year, a stock market filing showed on Friday, extending gains for a second straight quarter.CATL reported 12.36 billion yuan ($1.70 billion) in profit for the April-June quarter on a 1 ...
STI, REIT Index are in expected, temporary corrective phases
Goola Warden - The Straits Times Index continued to retreat during the week of Jul 22-26, losing 21 points week-on-week to end at 3,426. Towards the end of the week, the decline lost momentum. As such, the STI could continue to ease early in the week of Jul 29 - Aug 2 but rebounding toward the end of the week. The ...
Apollo Funds to acquire IGT's gaming business, Everi in $6.3 billion deal
:Private equity firm Apollo Funds will take International Game Technology's gaming and digital business and Everi Holdings private in a deal valued at $6.3 billion, the lottery and gaming machine provider said on Friday.Shares of IGT were up 18.75 per cent, while casino platform provider Everi ...
Apollo Funds to take IGT Gaming, Everi private in $6.3 billion deal
:Private equity firm Apollo Funds will take International Game Technology's gaming and digital business and Everi Holdings private in an all-cash deal that values the combined business at $6.3 billion, the companies said on Friday.Shares of IGT jumped 16 per cent, while casino platform provider ...
Keppel Infrastructure Trust reverses into the red with a loss of S$23.9 million in H1 2024
Benjamin Cher - KEPPEL Infrastructure Trust (KIT) reversed into the red with a loss of S$23.9 million in the first half of 2024, from a...
SIA Engineering net profit rises 23% to S$33.2 million in Q1 on healthy MRO demand
Elysia Tan - AIRCRAFT maintenance provider SIA Engineering Company (SIAEC) reported a net profit of S$33.2 million for its first quarter ended Jun 30. This...
Daily Debrief: What Happened Today (Jul 26)
Paul Nah SC - Stories you might have missed
SIA Engineering Co reported 1QFY2025 net profit of $33.2 mil, 23% higher y-o-y
Felicia Tan - SIA Engineering Company (SIAEC) reported a net profit of $33.2 million, $6.2 million higher, or 23% up y-o-y, for the 1QFY2025 ended June 30. Group revenue rose by 2.6% y-o-y to $268.7 million. Operating profit rose to $1.0 million, $0.6 million higher, or 150% up y-o-y, as revenue growth outpaced t ...
Singapore stocks slip slightly after MAS maintains monetary policy; STI down 0.1%
Tan Nai Lun - SINGAPORE shares ended slightly lower on Friday (Jul 26), after Singapore’s central bank left its monetary policy settings unchanged for the fifth...
Keppel Infrastructure Trust reports 1HFY2024 DPU of 1.95 cents, 1.0% higher y-o-y
Felicia Tan - Keppel Infrastructure Trust (KIT) has reported a distribution per unit (DPU) of 1.95 cents for the 1HFY2024, 1.0% higher y-o-y. Based on KIT’s closing price of 47 cents as at June 28, the DPU translates to an annualised yield of 8.3%. Distributable income, however, fell by 31.5% y-o-y to $91.0 mil ...
ECB's cyber security test shows 'room for improvement' for banks
FRANKFURT : Euro zone banks have "room for improvement" in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said on Friday.The ECB's first ever cyber risk stress test was launched in response to a surge in attacks, ...
Obamas endorse Harris for president as party unites behind her
Bloomberg - Barack and Michelle Obama endorsed Kamala Harris’ bid to become the Democratic nominee, offering their support to follow in his footsteps as only the second Black president in US history. A video released Friday shows the couple calling Harris to encourage her campaign — a symbolic passing of ...
