Posts by Kim Browne
Singapore’s STI, Asia markets rise after US court blocks Trump’s reciprocal tariffs
[SINGAPORE] Singapore stocks rose on Thursday (May 29) morning, after a US trade court on Wednesday (May 28) blocked US President Donald Trump’s “Liberation Day” tariffs from going into effect. As at 9.12 am, the Straits Times Index (STI) opened 0.2 per cent or 7.56 points higher at 3,919.48. Across the broader market, gainers outnumbered…
Read MoreSeatrium posts S$21.3 billion Q1 net orders
[SINGAPORE] Seatrium recorded net order book wins amounting to S$21.3 billion as at end-March, comprising 26 projects with delivery dates till 2031. Of these, nine are scheduled for delivery in 2025, and they have a contract value of S$387 million, the offshore and marine specialist said on Thursday (May 29) in its Q1 business update.…
Read MoreCapitaLand Ascendas Reit raises S$500 million from private placement of 202 million shares at S$2.47 each
Proceeds will help fund S$700 million purchase of Tai Seng data centre, Science Park building [SINGAPORE] CapitaLand Ascendas Real Estate Investment Trust (Clar) has raised S$500 million from a private placement of 202.4 million units, priced at S$2.47 per unit. The price is a discount of 5.2 per cent of the volume weighted average price…
Read MoreStocks to watch: CapitaLand Ascendas Reit, Seatrium, Sembcorp, mm2 Asia, Singapore Paincare
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (May 29). CapitaLand Ascendas Reit (CLAR): The company reported that it has raised S$500 million from a private placement of 202.4 million units priced at S$2.47 each, on Thursday. The issue price is a 5.2 per cent discount to…
Read MoreChevron to cut 200 jobs in Texas
Published Thu, May 29, 2025 · 08:23 AM — Updated Fri, May 30, 2025 · 07:22 AM [HOUSTON] Chevron will lay off 200 employees in Texas, according to figures from the Texas Workforce Commission. The layoffs are part of the US oil producer’s plan to cut up to 20 per cent of its global workforce…
Read MoreChevron to cut nearly 800 jobs in Texas
Published Thu, May 29, 2025 · 08:23 AM [HOUSTON] Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the US oil producer’s plan to cut up to 20 per cent of its global workforce by the end of 2026. The job cuts…
Read MoreUS firms plan to pass Trump tariff costs to consumers: Federal Reserve minutes
[WASHINGTON] US firms have warned the Federal Reserve that the cost of President Donald Trump’s tariffs will likely be borne by consumers, according to minutes of the bank’s most recent rate decision. Since returning to office in January, Trump has embarked on a stop-start tariff rollout that has unnerved investors and shaken global financial markets. The Fed‘s…
Read MoreApple to rebrand its device operating systems to mark major overhaul
[LOS ANGELES] Apple is planning the most sweeping change yet to its operating system names, part of a software overhaul that extends to all its devices. The next Apple operating systems will be identified by year, rather than with a version number, according to sources with knowledge of the matter. That means the current iOS…
Read MoreFactory that symbolised Nissan’s rise may become victim of its decline
[YOKOSUKA, Japan] When Nissan’s Oppama plant opened in 1961, it was one of Japan’s first large-scale auto factories and a symbol of the company’s global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New chief executive Ivan Espinosa unveiled sweeping cost cuts…
Read MoreUS curbs chip design software, chemicals, other shipments to China
[WASHINGTON] The United States has ordered a broad swathe of companies to stop shipping goods to China without a licence and revoked licences already granted to certain suppliers, said three people familiar with the matter. The new restrictions – which are likely to escalate tensions with Beijing – appear aimed at choke points to prevent…
Read MoreTrump tells US chip design software makers to halt China sales: FT
PRESIDENT Donald Trump’s administration has ordered US firms that offer software used to design semiconductors to stop selling their services to Chinese groups, the Financial Times reported on Wednesday, citing people familiar with the move. Electronic design automation software makers, which include Cadence, Synopsys and Siemens EDA, were told via letters from the Commerce Department…
Read MoreOil gains on supply concerns, investors await July Opec+ output decision
[NEW YORK] Oil prices gained more than 1 per cent on Wednesday on supply concerns as Opec+ agreed to leave their output policy unchanged and as the US barred Chevron from exporting Venezuelan crude. Investors previously anticipated members of Opec+ would agree to a production increase later this week. Brent crude futures settled up 81 cents,…
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