XMH Holdings to book gain of $10 million selling 14.8% stake in subsidiary to Mitsubishi unit
XMH Holdings is selling 14.8% in a fully-held unit to Mitsubishi Heavy Industries Energy System Asia for $12.3 million, and will be booking a gain if $10 million from this deal. According to XMH on Sept 15, after selling this stake in Mech-Power Generator, the latter will remain as a subsidiary, whi ...
Alphabet hits $3 trillion in market capitalization for the first time
Google-parent Alphabet hit a market capitalization of $3 trillion for the first time on Monday, riding on renewed optimism around artificial intelligence and a favorable antitrust ruling. Class A shares of the company were up 4.6 per cent at $251.88, while Class C shares climbed 4.5 per cent to $252 ...
Chegg pays $7.5 million to settle FTC claims its services were hard to cancel
Chegg Inc has agreed to pay $7.5 million to settle U.S. Federal Trade Commission claims that the educational technology company made it difficult to cancel subscriptions, according to court papers filed in San Jose, California on Monday.A Chegg spokesperson said the company disagrees with the FTC� ...
US: Wall Street opens higher as Fed meeting week begins; Tesla climbs
[NEW YORK] Wall Street indexes opened slightly higher on Monday (Sep 15), setting the stage for a week dominated by the Federal...
Trump says companies should report earnings every six months
[WASHINGTON] President Donald Trump said companies should not be forced to deliver earnings reports on a quarterly basis, saying he preferred a...
CoreWeave, Nvidia sign $6.3 billion order for cloud computing capacity
Data center operator CoreWeave said on Monday it had signed a new order with Nvidia with an initial value of $6.3 billion, in a deal that guarantees that the AI chipmaker will purchase any residual cloud capacity not sold to customers.Shares of CoreWeave rose 6.9 per cent in early trading following ...
Whether it’s one rate cut or more, Fed’s Powell likely to act with caution as inflation stays high
US central bank expected to cut rates by 25 basis points to a range of between 4% and 4.25 % this week
InterContinental Singapore in Bugis to close; Frasers-owned property to be rebranded
Jessie Lim - Marriott International is understood to have been shortlisted to operate the 406-room, 16-storey hotel
GLP closes GLP China Income Fund IV with RMB2 billion of AUM
The Edge Singapore - GLP announced on Sept 15 the close of GLP China Income Fund XIV (CIF XIV) with nearly RMB2 billion of assets under management in partnership with a leading global institutional investor. The onshore RMB fund is seeded with five stabilised income-generating logistics and industrial assets from GLP’ ...
RHB downgrades APAC Realty but sees price supported by dividend yield
RHB Bank Singapore has downgraded APAC Realty to neutral from buy with a new target price of 80 cents. APAC Realty’s share price has more than doubled this year on the back of a strong pick-up in primary residential sales, which resulted in a more than a doubling of 1HFY2025 ended June 30 net prof ...
Tesla jumps after Musk acquires EV maker's shares worth $1 billion
Tesla shares jumped about 8 per cent in premarket trading on Monday after a regulatory filing showed that CEO Elon Musk had purchased nearly $1 billion worth of the electric-vehicle maker's stock last week. Musk disclosed buying 2.57 million shares in open-market transactions on Friday, paying ...
EchoStar expects to have $24 billion in cash after spectrum sales, debt payments
EchoStar said on Monday it expects to hold $24.1 billion in total cash after using proceeds from its spectrum license sales to repay debt, bolstering its balance sheet and supporting growth in wireless, satellite and technology sectors.The satellite communications firm sold some wireless spectrum li ...
Elon Musk purchases about US$1 bil worth of Tesla shares
Craig Trudell / Bloomberg - Tesla Inc.'s chief executive officer Elon Musk purchased about US$1 billion ($1.28 billion) worth of the carmaker’s shares, according to a regulatory filing. The billionaire bought the stock indirectly through a trust on Sept. 12, the filing shows. The purchases coincided with Tesla Chair Rob ...
SIA Group’s passenger traffic up 5.4% in August
Janice Lim - Passenger traffic is at 13.6 billion for the month, compared with 12.9 billion in the corresponding period last year
Bank Indonesia to hold rates this week as political shake-up hits rupiah: Reuters poll
BENGALURU: Indonesia's central bank will pause its easing cycle on Wednesday (Sep 15) according to a Reuters poll of economists published a week after the removal of Finance Minister Sri Mulyani Indrawati rattled investor confidence and weakened the rupiah.Indrawati's sudden exit erased mo ...
STI edges down 0.1% on Monday, bucking regional trend
Benjamin Cher - Across the broader market, advancers outnumber decliners 319 to 240 after 1.7 billion shares worth S$1.4 billion change hands
Meta Health to be paid $136,831.82 following breach of settlement agreement by former top executives of two subsidiaries
Nicole Lim - Meta Health has entered into a settlement agreement with former top executives from two of its subsidiaries, for the payment of $136,831.82 to the company in nine separate tranches starting from September. The two executives, Dr Vasanthan Metupalle and his spouse, Jagannathan Padmaja Sakthi, were th ...
Daily Debrief: What Happened Today (Sep 15)
Stories you might have missed
India's markets regulator approves Pine Labs' IPO
India's markets regulator has approved the initial public offering of Pine Labs, a document on its website showed.
Intel lowers full-year expense target
Intel said on Monday it has lowered its full-year 2025 adjusted operating expense target to $16.8 billion, from $17 billion earlier, to reflect the deconsolidation of its programmable chip business, Altera.
Intel trims full-year expense outlook following Altera stake sale
Intel said on Monday it has lowered its full-year 2025 adjusted operating expense target to $16.8 billion, from $17 billion earlier, to reflect the deconsolidation of its programmable chip business, Altera. The struggling chipmaker agreed in April to sell a 51 per cent stake in Altera to private equ ...
SIA Group’s group passenger traffic increases 5.4% y-o-y for August; cargo load demand easing
Nicole Lim - Singapore Airlines (SIA) Group has reported a 5.4% y-o-y increase in group passenger traffic for the month of August, outpacing the 2.7% expansion in passenger capacity. For the month, passenger load factor (PLF) increased by 2.3 percentage points (ppts) y-o-y to 88%, with SIA and Scoot posting mont ...
Hao Mart’s Taste Orchard lease terminated by landlord OG; premises to be returned by Dec 31
Paige Lim - Tenants at the food-focused mall say they were blindsided by the news, with some having more than one year left on their...
StanChart Singapore’s H1 profit climbs 12.4% to nearly S$1 billion
Shikhar Gupta - The rise in earnings comes amid a boost in fee and commission income, as well as forex income
StanChart Singapore’s first-half profit climbs 12.4% to nearly S$1 billion
Shikhar Gupta - [SINGAPORE] StanChart Singapore’s net profit climbed 12.4 per cent to S$961 million in the first six months of this year, from S$854...
China says preliminary probe shows Nvidia violated anti-monopoly law
CHINA’S market regulator on Monday (Sep 15) said that a preliminary investigation had found that US chip giant Nvidia had violated the...
ST Engineering doubles MRO capacity for CFM56 and LEAP engines to over 300 annually by 2027 with new facility opening
Douglas Toh - Singapore Technologies (ST) Engineering’s commercial aerospace (CA) arm has unveiled a new maintenance, repair and overhaul (MRO) facility located within its existing Paya Lebar aerospace compound. The new facility, built at an undisclosed “multi-million dollar” amount, covers some 10,000 squa ...
Exclusive-France threatens to block crypto licence 'passporting' in EU regulatory fight
PARIS :France has warned it may try to block some crypto firms licenced in other EU countries from operating domestically as part of a push to get oversight transferred to the bloc’s central securities regulator, the head of its financial watchdog told Reuters.France's securities watchdog, th ...
‘Implications go far beyond SGX’ should Singapore’s best companies choose to list overseas: Koh Boon Hwee
Jude Chan - [SINGAPORE] The Republic needs “an ambitious and broad vision” for its capital markets, as well as a policy framework that will help...
Sydney Airport unveils terminal expansion to meet passenger jump
It includes wide-ranging infrastructure, airfield and freight upgrades
ST Engineering to hire over 300 technicians and engineers as it doubles engine MRO capacity
Young Zhan Heng - This marks another significant hiring commitment by the local giant
ST Engineering to hire over 300 more technicians and engineers as it doubles its engine MRO capacity
Young Zhan Heng - This marks another significant hiring commitment by the local giant
Soaring bullion prices threaten to dull India's festive gold sparkle
Demand is expected to fall by about 10%-15% in volume
Citi names banking veteran Lee Lung-Nien as new Singapore country officer and banking head
Therese Soh - He will step into the new role on Oct 6, and is the first Singaporean to hold the post in 50 years
