Stocks decline with tech shares; dollar weakens as Fed rate cut in view
NEW YORK :Major stock indexes fell on Friday, with technology shares including Dell Technologies leading declines, while the dollar weakened against the euro after U.S. inflation data kept alive expectations of a September interest rate cut.Dell dropped 8.9 per cent after it reported results late Th ...
Stocks decline with tech shares; dollar weakens as US inflation data in line
NEW YORK :Major stock indexes fell on Friday, with technology shares including Dell Technologies leading declines, while the dollar weakened against the euro after U.S. inflation data kept alive expectations of a September interest rate cut.Dell dropped more than 9 per cent after reporting earnings ...
Toad sculpture in Peru reveals climate-driven collapse of ancient city
LIMA :A small sculpture of two toads, and other water-linked symbols found near the Peruvian city of Caral - once the oldest city on the continent - have helped archaeologists confirm that an ancient civilization disappeared due to devastating climate change. Climate change, a long-term and large-s ...
Exclusive-Google set to face modest EU antitrust fine in adtech investigation, sources say
BRUSSELS :Alphabet's Google is set to face a modest EU antitrust fine in the coming weeks for allegedly anti-competitive practices in its adtech business, three people with direct knowledge of the matter said.The decision by the European Commission follows a four-year long investigation trigger ...
Musk's xAI sues engineer for allegedly taking secrets to OpenAI
Elon Musk's artificial intelligence startup xAI has sued a former engineer at the company for allegedly stealing trade secrets related to its Grok chatbot and taking them to rival OpenAI.Musk's company said in the complaint filed on Thursday in California federal court that Xuechen Li stol ...
Brazil launching data center incentives next month to woo big tech, sources say
BRASILIA :Brazil plans to announce a tax incentive plan in early September aimed at attracting foreign tech companies to build data centers in the country, two economic policy officials told Reuters.The sources, who requested anonymity to discuss the confidential plans, said the "Redata" p ...
Super Micro shares dip after AI server maker flags financial control concerns
Super Micro Computer's shares fell nearly 5 per cent on Friday after the artificial intelligence-optimized server maker reiterated weaknesses in internal control over financial reporting.The company disclosed in a regulatory filing on Thursday that unresolved issues could "adversely affect ...
France and Germany reject Trump's threats on EU tech legislation
TOULON, France :France and Germany on Friday defended Europe's right to adopt its own legislation on technology after U.S. President Donald Trump criticised European rules on digital services, saying any U.S. coercion would be met with retaliation.Trump on Monday threatened to slap additional t ...
Why has SATS underperformed the STI and the market? Elsewhere, REIT Index is set for higher levels
Goola Warden - SATS has underperformed the average of the more than 600 stocks on the SGX and the Straits Times Index. Based on Bloomberg data, the average gain of all the stocks is around 22% since the start of the year. The average gain for the STI year-to-date including dividends is around 19%. In the meantime, ...
ThaiBev raises THB38,000 mil from debentures that were almost three times oversubscribed
Nicole Lim - Thai Beverage (ThaiBev) has successfully raised THB38,000 million ($1.51 billion) from issuing Thai Baht debentures that have been close to three times over subscribed. The debentures, which are a long-term debt instrument, comprise an initial principal of THB 28,000 million and a greenshoe option o ...
US: Wall Street opens lower after inflation data; tariff concerns weigh
[NEW YORK] Wall Street’s main stock indexes opened lower on Friday (Aug 29) after an in-line inflation report kept in place bets...
IHH Healthcare Q2 net profit falls 28.9% on higher staff costs
Goh Ruoxue - The lower earnings come despite revenue for the quarter inching up 3.4% from the year-ago period
HSBC taps insider Henderson for interim US CEO as McGeough leaves
HSBC's U.S. CEO Lisa McGeough stepped down months after taking the job and the bank tapped longtime executive Jason Henderson as interim head while it looks for a successor.McGeough, who joined HSBC in 2021, is leaving to "pursue new opportunities", the lender disclosed in a regulator ...
PayPal says it is working with German banks after widespread payment disruption
BERLIN :PayPal said on Friday that it was working to resolve any remaining issues following a widespread disruption that had halted user payments in Germany, raising alarm over the reliability of the app for online transactions."We apologise for the inconvenience caused by the current events. S ...
Global equity fund inflows ease on worries over Fed independence
Global equity funds witnessed a dip in demand in the week through August 27 on concerns around the Federal Reserve's independence as President Donald Trump attempted to fire a Federal Reserve governor.According to LSEG Lipper data, global equity funds received just $2.96 billion in inflows duri ...
Chinese EV maker BYD's quarterly profit falls for first time in 3-1/2 years
BEIJING :Chinese electric vehicle maker BYD's second-quarter profit fell 29.9 per cent from a year earlier, ending a 3-1/2 year growth streak.Net profit at the world's biggest EV producer hit 6.4 billion yuan ($894.74 million) while revenue increased 14 per cent to 200.9 billion yuan in th ...
Aster outage may ripple across Singapore’s petrochemical sector
Mia Pei - The Chandra Asri-Glencore-owned firm is the Republic’s sole producer of ethylene glycol and styrene monomer
Aster outage spotlights cracks in Singapore’s petrochemical sector
Mia Pei - The Chandra Asri-Glencore-owned firm is the Republic’s sole producer of ethylene glycol and styrene monomer
Aster outage spotlights cracks in Singapore’s petrochem sector
Mia Pei - The Chandra Asri-Glencore-owned firm is the Republic’s sole producer of ethylene glycol and styrene monomer
Jack Ma-backed Ant’s profit dives 60% after AI, global expansion
ANT Group’s quarterly profit fell 60 per cent, after the Chinese digital payments giant made more inroads overseas and invested in artificial...
Newly-listed Lum Chang Creations earnings surge to $12.9 mil for FY2025; proposes final dividend of 2.2 cents
Nicole Lim - Newly-listed Lum Chang Creations (LCC) has reported earnings of $12.9 million for the full year ended June 30, up 173% y-o-y. For the 2HFY2025 period, earnings grew 429% y-o-y to $7.6 million. The group’s revenue surged 93% y-o-y for FY2025 to $113.6 million, and 206% y-o-y for 2HFY2025 to $72.7 m ...
Newly-listed Lum Chang Creations earnings surge to $12.9 mil for FY2025; proposed final dividend of 2.2 cents
Nicole Lim - Newly-listed Lum Chang Creations (LCC) has reported earnings of $12.9 million for the full year ended June 30, up 173% y-o-y. For the 2HFY2025 period, earnings grew 429% y-o-y to $7.6 million. The group’s revenue surged 93% y-o-y for FY2025 to $113.6 million, and 206% y-o-y for 2HFY2025 to $72.7 m ...
Lum Chang Holdings net profit up 102% y-o-y for FY2025 to $18.7 mil
Nicole Lim - Lum Chang Holdings has reported a net profit of $18.7 mil for the full year ended June 30, up 102% y-o-y. For the 2HFY2025, net profit grew 251% y-o-y to $12.1 million. The group’s revenue declined 8% y-o-y to $462.9 million for FY2025, and 16% y-o-y to $223.8 million for the 2HFY2025. The group s ...
Malaysia's Petronas says it will undergo 'strategic transformation' as H1 profit falls
Revenues in H1 declined 24% to RM132.6 billion, compared with RM173.6 billion a year earlier
Thomson Medical Group posts net loss for FY2025 from Vietnam acquisition; revenue grows 12.4% y-o-y to $394.6 mil
Nicole Lim - Thomson Medical Group (TMG) has reported a net loss of $47 million for the FY2025 ended June 30, largely attributable to a one-off, non-cash goodwill impairment and continued strategic investments. This refers to the fair values of assets acquired and liabilities assumed during the acquisition of Fa ...
Daily Debrief: What Happened Today (Aug 29)
Stories you might have missed
Ant Group quarterly profit falls 60% to $663 million
SHANGHAI :Chinese fintech company Ant Group posted a 60.5 per cent slide in net profit to 4.74 billion yuan ($662.7 million) in the three months to March 31, according to Reuters calculations based on earnings reported by stakeholder Alibaba on Friday.Alibaba said the decrease was mainly attributabl ...
Hotel Miramar to shut end-October; 108 employees hit
Goh Ruoxue - It attributes the ‘difficult decision’ to its long-term business outlook
Alibaba falls short of Q1 revenue estimates
It reported total revenue of 247.65 billion yuan in the first quarter ended June, compared with an estimate of 252.92 billion yuan
Lincotrade & Associates earnings up to $2.6 mil for FY2025; proposed final dividend of 0.66 cents
Nicole Lim - Lincotrade & Associates Holdings has reported earnings of $2.6 million for the full year ended June 30, up 11.5% y-o-y. The company increased its revenue by 8.5% y-o-y to $73.6 million for FY2025, driven by its commercial business segment that saw revenue increasing 17.3% to $66.1 million. Linco ...
Singapore mall landlords are adapting to changing consumer habits, but there’s room for new approaches
Chong Xin Wei - Suggestions from market players include mixed-use developments that will ease reliance on rents and tapping underused spaces for pop-ups
Dell slides as high AI server costs, competition blunt upbeat demand forecast
Shares of Dell Technologies fell about 7 per cent premarket on Friday, as high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure.The stock is set to lose roughly $5 billion of i ...
Dell slides after weak margins eclipse upbeat full-year forecast
Shares of Dell Technologies dropped nearly 6 per cent in premarket trading on Friday, as a dour quarterly profit forecast and weaker-than-expected second-quarter margin rate overshadowed upbeat full-year estimates. Rising demand for servers capable of handling computational needs of AI workloads is ...
Singapore stocks extend rally on Friday; STI up 0.4%
Mia Pei - Across the broader market, gainers beat losers 314 to 202, as 1.2 billion securities worth S$1.4 billion change hands
