China announces measures against Google, other US firms, as trade tensions escalate
BEIJING: China announced a wide range of measures on Tuesday (Feb 4) targeting US businesses including Google, farm equipment makers and the owner of fashion brand Calvin Klein, minutes after new
Spotify predicts strong quarter after cost cuts power first annual profit
:Spotify Technology reported its first annual profit on Tuesday and forecast quarterly earnings above Wall Street estimates, as the Swedish audio-streaming giant benefits from strong user growth, price hikes and a cost-cutting drive.Shares of the company, which competes with Apple and Amazon's ...
FLCT posts higher rental reversions in 1QFY2025 update
Samantha Chiew - Frasers Logistics and Commercial Trust (FLCT) has announced its 1QFY2025 ended December 2024 business update. The trust reported an active leasing momentum with overall positive rent reversions achieved. It has 175,000 sqm of leases and renewals, with logistics and industrial (L&I) rental revers ...
Sabana Reit’s internalisation committee, directors-elect say convening EGM is ‘waste of unitholders’ money’; urge voting against resolutions
Megan Cheah - They point out that a fully independent valuation of the Reit’s property portfolio was already done as recently as Dec 31
Number of compulsory wind-ups rise more than 50% in 2024
Tessa Oh - 4,521 bankruptcy applications filed in the first 11 months of 2024
Daily Debrief: What Happened Today (Feb 4)
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Syfe launches takeover bid for Australia-listed brokerage SelfWealth, besting existing offer by 12%
Jovi Ho - Singapore-headquartered wealth management platform Syfe has made a bid to acquire Australia-listed brokerage SelfWealth for A$65 million ($54.70 million) in an all-cash transaction. In a Feb 4 post on LinkedIn, Syfe confirmed media reports that it had submitted a non-binding indicative offer to acqu ...
Sabana Industrial REIT completes solar panel installations at most of its properties in partnership with Keppel EaaS
Samantha Chiew - Sabana Industrial REIT announced the completion of its dual-phase project with Keppel’s Energy-as-a-Service arm, Keppel EaaS, to install solar panels atop nine of the REIT’s properties. In March 2023, the REIT entered into agreements with Keppel EaaS, to implement sustainability solutions and in ...
Waabi ties up with Volvo to roll out self-driving trucks
Self-driving technology company Waabi said on Tuesday it has partnered with truckmaker Volvo's driverless systems unit to develop and deploy big rigs that drive themselves.Fleets and truck manufacturers have been looking towards self-driving vehicle technologies to reduce costs and increase the ...
UBS has cut 10,000 jobs since Credit Suisse takeover in 2023
UBS Group has cut more than 10,000 roles since it bought Credit Suisse, marking a milestone in the lender’s efforts to integrate...
HSBC deputy global equities chief takes leave of absence, sources say
LONDON/SYDNEY :HSBC's deputy global head of equities Selene Chong is taking a leave of absence from her role, two sources with knowledge of the matter told Reuters, the latest in a slew of senior leadership changes at the Asia-focused lender.Chong, who is also head of equities for HSBC in the A ...
HK-listed Chinese stocks hit 3-month high despite China, US tariffs
CHINESE stocks listed in Hong Kong surged on Tuesday (Feb 4) as investors loaded up on artificial intelligence and electric vehicle shares...
Guinness-owner Diageo scraps medium-term goals as tariffs cloud outlook
GUINNESS-owner Diageo withdrew its ambitious sales growth target on Tuesday (Feb 4), in an acknowledgement a prolonged downturn in demand and uncertainty...
Tariffs could deal US$200 million blow to Guinness-owner Diageo in second half
GUINNESS-owner Diageo estimates its operating profit could be dented by roughly US$200 million if US tariffs on Mexico and Canada are implemented...
Nintendo cuts outlook for final months before Switch 2 debut
It expects 280 billion yen (S$2.44 billion) in operating income in the fiscal year to March, slashing more than a fifth from...
Tit-for-tat: A timeline of the tariff fight between Trump and the rest of the world
Therese Soh - His threats have ignited fears of a trade war
Tit-for-tat: The tariff fight between Trump and the rest of the world
Therese Soh - His tariff threats have ignited fears of a trade war
Temasek and CenterSquare launch US$100 million commercial real estate debt co-investment vehicle
Romaine Chan - The portfolio continues a strategy across the global real state investment manager’s debt fund series
Singapore tourism sector posts strong performance in 2024; tourist spending set to hit new high
Arrivals from China, Indonesia and Australia emerged as the top tourism receipts generating markets in 2024.
Infineon more positive on revenue outlook after Q1 stronger than expected
It expects revenue for the fiscal year until end-September 2025 to be flat to slightly up compared with the prior year
Infineon stock hikes on guidance beat, demand from auto sector
Shares in Infineon rose 11 per cent after the German chipmaker slightly upgraded its full-year revenue outlook and reported quarterly results and guidance above expectations.The outlook differs from other makers of microchips for cars and for industrial use that have missed expectations, in some cas ...
Grab and GoTo in advanced merger talks, sources say
SINGAPORE: Southeast Asian ride-hailing and food delivery company Grab is in advanced talks to merge with its smaller Indonesian rival GoTo as the firms seek to stem years of losses, two sources familiar with the matter told Reuters. A new round of merger talks resumed in December last year, with in ...
Singapore unlikely to be on ‘hit list’ of direct US tariffs: Vivian
Sharon See - But the foreign affairs minister says the Republic’s small, open economy – where trade is thrice the GDP – may yet be...
Bank of Korea board members open to near-term rate cut, see headwinds from US policies -minutes
SEOUL : A voting board member, Shin Sung-hwan, who dissented in the Bank of Korea's decision to keep policy rates unchanged in January, said the economy faces bigger risks due to domestic political turmoil and U.S. policy changes, minutes from the bank's meeting showed on Tuesday.The Bank ...
Singapore does not expect to be on Trump’s hit list for tariffs, says Vivian Balakrishnan
Bloomberg - Singapore’s top diplomat said he doesn’t expect the wealthy island nation to be in the firing line for US tariffs even as President Donald Trump shows he’s willing to target other friendly nations including Mexico and Canada. “Tariffs and emerging tariffs are a reality,” Foreign Minister V ...
GIC investment chief Jeffrey Jaensubhakij to retire from role, stay on as adviser
SINGAPORE: Group chief investment officer for sovereign wealth fund GIC, Dr Jeffrey Jaensubhakij, is set to retire from his role in April. He will be succeeded by current deputy group chief investment officer, Mr Bryan Yeo, who will oversee GIC’s total investment portfolio. This change wi
GIC makes senior leadership changes, appoints new group CIO
Crystal Heng - Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm
GIC makes senior leadership changes, appoints new CIO
Crystal Heng - Bryan Yeo succeeds Jeffrey Jaensubhakij, who is stepping down after almost three decades at the firm
Japan's biggest lender MUFG's quarterly profit jumps by nearly a third
TOKYO :Japan's largest lender Mitsubishi UFJ Financial Group reported on Wednesday a 32 per cent surge in quarterly net profit, powered by sales of cross-shareholdings and a bump in margins due to higher interest rates in Japan.Three rate hikes since March 2024 have widened domestic loan spread ...
Japan's biggest lender MUFG posts 32% jump in third-quarter profit
TOKYO : Japan's largest lender Mitsubishi UFJ Financial Group reported on Wednesday a 32 per cent increase in quarterly net profit.Profit in the October-December period came in at 490.74 billion yen ($3.16 billion) versus 370.64 billion yen a year earlier, according to Reuters' calculation ...
Nokia signs multi-year expansion deal with AT&T for voice and automation
HELSINKI : U.S. telecoms operator AT&T and Finnish network equipment maker Nokia have signed a multi-year expansion agreement to upgrade AT&T's voice carriage and 5G network automation in the U.S., the Finnish company said on Tuesday.The deal comes a year after Nokia lost a major contra ...
Germany's Siltronic sees stagnant sales in 2025, postpones mid-term targets
:German semiconductor materials supplier Siltronic expects no increase in sales this year after a 7 per cent drop in 2024, citing high inventory levels, it said on Tuesday. "For the year 2025, we anticipate that the growth in the end-markets, primarily driven by AI, will not yet be reflected in ...
Panasonic's battery unit Q3 operating profit rises 39% from a year earlier
TOKYO : Japan's Panasonic Holdings said on Thursday the third-quarter operating profit of its energy unit, which supplies batteries to Tesla, rose 39 per cent from a year earlier on improved profitability at its U.S. plant and stronger sales of energy storage systems.Operating income for the ke ...
Nintendo cuts Switch sales forecast ahead of successor device launch
TOKYO :Japan's Nintendo cut its full-year sales Switch forecast by 12 per cent to 11 million units as the aging console loses momentum ahead of the launch of a successor device this year.Nintendo remains dependent on its console business even as it has opened stores and its roster of characters ...
