Wall Street analysts split on Circle after blockbuster IPO on lofty valuation concerns
Wall Street brokerages had mixed recommendations on stablecoin issuer Circle Internet Group as they began coverage on Monday, with some analysts expressing concerns about its elevated valuation after the stock more than doubled since its market debut.The New York-based company's shares were up ...
Wall Street analysts bullish on Circle after blockbuster IPO, but warn on sky-high valuation
Wall Street brokerages began coverage of stablecoin issuer Circle Internet Group on Monday with broadly bullish ratings, though some analysts voiced concerns about its elevated valuation after the stock more than doubled since its market debut.The New York-based company's shares were down nearl ...
Mitsubishi aims to increase Europe sales with new Renault models, reports Automotive News Europe
PARIS :Mitsubishi Motors aims to increase its European sales by up to 30 per cent with the help of two new Renault-based models, the regional CEO for the Japanese carmaker, Frank Krol, told Automotive News Europe.The aim is to sell 75,000 to 80,000 vehicles annually in Europe - a gain of 20 to 30 pe ...
Nissan says it will seek voluntary job cuts at UK plant
TOKYO :Nissan Motor will begin talks this week to seek job cuts at its Sunderland plant in Britain, it said on Monday, as the Japanese automaker targets a 15 per cent reduction in its global workforce.Nissan said the move was aimed at increasing the efficiency of the Sunderland plant in northeastern ...
Advent to buy majority stake in data center equipment maker LayerZero
Private equity firm Advent International said on Monday it has agreed to acquire a majority stake in LayerZero Power Systems, which manufactures power infrastructure equipment for data centers.The majority stake in the Aurora, Ohio-based company is valued at about $1 billion, a source familiar with ...
Creative CEO Sim steps down less than three months after appointment due to health reasons
Nicole Lim - Freddy Sim, the younger brother of Creative Technologies’ late founder Sim Wong Hoo, has stepped down as CEO of the company less than three months after his appointment. A bourse filing attributes this to health reasons. The board has appointed Dr Tan Jok Tin as the interim CEO. Dr Tan had previou ...
Building up young talent a priority for WongPartnership’s new managing partner Chou Sean Yu
Tessa Oh - He takes over from Ng Wai King who will remain as chairman and senior partner
Tariff bullying is working too well in Europe: Lionel Laurent
Lionel Laurent / Bloomberg - Donald Trump's April tariff barrage felt like the height of hubris. It infuriated allies, damaged his popularity at home and triggered financial-market chaos so acute the whole thing was paused within days — the latest sign of America’s Icarus-like tendency to try to remake the world every ...
Israel's Cato Networks valued at over $4.8 billion in latest funding round
Israel's Cato Networks said on Monday it had raised $359 million in a funding round, valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven security and networking solutions.An uptick in sophisticated cyberattacks has prom ...
ECB tweaks strategy to counter sustained inflation swings, either up or down
It is tweaking its overarching strategy after being blind-sided by a surge in prices in recent years
UMS Integration issues prospectus for secondary listing on Bursa Malaysia
Nicole Lim - UMS Integration has issued its prospectus for the secondary listing on the main market of Bursa Malaysia Securities Berhad. The secondary listing will be undertaken by way of introduction and will not involve any issuance or offering of shares. UMS shares will be fully fungible, where shareholders w ...
EU tech rules not included in US trade talks, EU Commission says
BRUSSELS :The European Union's landmark rules reining in the power of Big Tech and requiring them to do more to police the Internet are not part of trade talks with the United States, a European Commission spokesperson said on Monday."The legislations will not be changed. The DMA (Digital ...
Cryptocurrency fraud ring busted in Spain after laundering $540 million, Europol says
PARIS :A cryptocurrency investment fraud ring that investigators said laundered 460 million euros ($540 million) using a worldwide network of accomplices has been dismantled in Spain, European police body Europol said on Monday.Europol said Spanish police led the operation against the criminal netwo ...
Mice design-and-build specialist Dezign Format eyes Catalist IPO, lodges preliminary prospectus
Renald Yeo - It follows a similar move by Lum Chang Creations on Jun 23
Another interior fit-out firm eyes Catalist IPO as Dezign Format lodges preliminary prospectus
Renald Yeo - It follows a similar move by Lum Chang Creations on Jun 23
Millennium Hotels & Resorts partners Germany’s Maritim Hotels to offer mutual programme privileges
Nicole Lim - Millennium Hotels & Resorts (MHR) has entered a partnership with Germany’s Maritim Hotels to allow members of each programme to access exclusive privileges across both portfolios. The partnership was formed at the signing ceremony held at the Chelsea Harbour Hotel & Spa, London. Members of ...
Daily Debrief: What Happened Today (Jun 30)
Stories you might have missed
ING to cut 230 jobs as it has ‘too many’ managing directors
[AMSTERDAM] ING Groep announced a round of cuts focused on senior staff saying there are just too many of them.
PhillipCapital upgrades Sembcorp to ‘buy’, increases earnings by 5% due to Senoko acquisition
Felicia Tan - PhillipCapital analyst Paul Chew has upgraded Sembcorp Industries to “buy” from “accumulate” as he sees stable growth ahead on the back of the group’s acquisition of its remaining stake in Senoko Energy. On June 13, Sembcorp confirmed that it completed the acquisition of its additional sta ...
Singapore shares buck regional rally, STI dips 0.1%
Tay Peck Gek - Wilmar International’s shares still under pressure, hit a 52-week low at market’s close; OKP and Keong Hong both at 52-week highs
Dezign Format lodges preliminary offer document for Catalist listing
Felicia Tan - Dezign Format has lodged a preliminary offer document to list its shares on the Singapore Exchange’s (SGX) Catalist board. According to its offer document, the group has three key business segments: event, exhibition and decor services; commercial and retail fit-out as well as immersive location-b ...
Trump’s ‘big, beautiful’ Bill set to further tarnish Treasuries’ lustre overseas
US Treasury International Capital data shows foreign money leaving US short and long-term debt and banking flows stood at a net US$14.2...
BlackRock says unpredictable US policy a boon for Europe credit
BlackRock sees European fixed income benefiting from any investor shift away from the US, signaling caution around unpredictable US policy and ballooning government debt. Foreign investors are stepping back from the US and its “special status” in financial markets could be challenged if the coun ...
Anti-scam law that lets police freeze potential victims’ bank accounts to kick in on Jul 1: MHA
Therese Soh - Officers may order banks to restrict a potential scam target’s banking activities as a ‘last resort’ once other options have been exhausted
India’s stock market enters volatile second half, but with hopes of new highs
This comes after a turbulent first half marked by a bull run, a sharp sell-off and a subsequent recovery.
UBS kicks off share buyback programme of up to US$2 billion
The buyback is expected to kick off on July 1
Indonesian sovereign wealth fund Danantara seeks up to US$10 bil loan, Southeast Asia’s largest
Chien Mi Wong and Megawati Wijaya / Bloomberg - Indonesian sovereign wealth fund Danantara is seeking a multicurrency borrowing of as much as US$10 billion ($12.74 billion), in what could be Southeast Asia’s largest loan, according to people familiar with the matter. Danantara, formally known as Daya Anagata Nusantara, sent a request for propos ...
Thai economy slows in May on weaker tourism, production, central bank says
BANGKOK :Thailand's economy in May softened from the previous month following a slowdown in the tourism sector and a decline in manufacturing production, which offset the surge in exports, the central bank said on Monday.The tourism sector in May saw a decline in both revenue and the number of ...
Exclusive-Nissan seeks to delay supplier payments to free up cash, company emails show
TOKYO :Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds, according to several emails and a company document reviewed by Reuters, as the troubled Japanese automaker scrambles to boost cash. New CEO Ivan Espinosa, who took over in April, has unveiled pla ...
Japan's Nikkei ends at over 11-month high as US stocks rally boosts risk appetite
[TOKYO] Japan’s Nikkei share average closed at a more than 11-month high on Monday (Jun 30) as investor risk appetite grew after...
Singtel CEO’s FY2025 salary rises 16.8% y-o-y to $8.2 mil
Douglas Toh - Singapore Telecommunications (SingTel) group chief executive officer (CEO) Yuen Kuan Moon’s salary came in at $8.2 million for the FY2025 ended March 31, a 16.8% y-o-y increase from FY2024’s pay of $7.0 million. Yuen’s base salary for the financial year was $1.3 million, while his $2.2 million ...
Hedge fund strategy built on catastrophes taps a hot new trend
Gautam Naik / Bloomberg - One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used to be the preserve of small bu ...
Singaporeans fuel Quayside JBCC sell-out amid Johor’s RTS boom
The units at the mixed-use project are sold through a private equity fund structure
Singaporeans take big bites of Quayside JBCC amid Johor’s RTS boom
The units at the mixed-use project are sold through a private equity fund structure
