Business
Europe: Shares log third week of declines on China, tariff jitters
EUROPE’S benchmark Stoxx 600 logged its third consecutive week of declines on Friday (Nov 8), hurt by underwhelming stimulus measures from…
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Business
Tesla hits US$1 trillion market value as Musk-backed Trump win fans optimism
TESLA’S market value breached the US$1 trillion-mark in a sharp rally on Friday (Nov 8), on growing bets of a favourable treatment for CEO…
Business
Delivery Hero’s Talabat to launch over US$1 billion Dubai IPO next week: sources
TALABAT, the Middle East business of Delivery Hero, plans to launch its Dubai initial public offering next week, three people familiar…
Business
Old Chang Kee H1 profit rises 42% to S$6.2 million
CURRY puff maker Old Chang Kee on Friday (Nov 8) posted a net profit of S$6.2 million for the six months ended Sep 30, climbing 42 per…
Business
Pierre Cardin to be hit with EU antitrust fine for cross-border sales curbs: sources
FRENCH fashion house Pierre Cardin is set to be fined in the coming weeks for licensing and distribution deals with German clothing maker…
Business
Sembcorp Industries to sell waste management unit to Indonesian energy company for S$405 million
ENERGY and urban development company Sembcorp Industries on Friday (Nov 8) announced that it intends to sell its wholly owned unit…
Business
Ikea reports higher profit despite revenue hit from price cuts
INTER Ikea, the owner of the world’s biggest furniture brand, reported higher profits for 2024 thanks to lower interest payments, despite…
Business
F&N FY2024 earnings rise 12.7% to S$150.2 million on higher revenue
BEVERAGE and publishing company Fraser and Neave (F&N) on Friday (Nov 8) announced a 12.7 per cent rise in net profit to S$150.2 million…
Business
India’s Tata Motors posts surprise Q2 profit drop on weak sales
INDIA’S Tata Motors reported a surprise drop in second-quarter profit and its first revenue decline in 10 quarters on Friday (Nov 8), hurt…
Business
AI startup funding hit a record in L.A. area last quarter. Here's who got the most money
The Bay Area has long held the title for attracting the most venture capital funding in the nation, and that naturally includes the hot…
Business
State Bank of India beats Q2 profit view but lending margin shrinks
STATE Bank of India, the country’s largest lender by assets, beat second-quarter profit estimates on Friday (Nov 8), helped by higher…
Business
Singapore banks lead STI rally to 17-year high; index up 1.4%
THE Straits Times Index (STI) continued to rally on Friday (Nov 8), hitting a 17-year high. It was up 1.4 per cent or 50.88 points at…
Business
China’s car sales jump in October as automakers rush to meet annual goals
CHINA’S passenger vehicle sales jumped 11.2 per cent in October year on year, the second straight monthly rise and the fastest growth…
Business
US Fed’s rate cut brings ‘relief’ to Asian markets, but long-term uncertainty under Trump remains
Observers expect volatility in the markets until there is greater clarity on Trump’s policies THE latest rate cut by the US Federal…
Business
Fed’s rate cut brings ‘relief’ to Asian markets with STI hitting 17-year high, but long-term uncertainty under Trump remains
Observers expect volatility in the markets until there is greater clarity on the new president’s policies THE latest rate cut by the US…
Business
Geely seeks over two billion euros loan to refinance Volvo truck deal
CHINESE billionaire Li Shufu’s Zhejiang Geely Holding Group is in talks with banks for a syndicated loan to refinance borrowings related…
Business
Fed’s implied message: Enjoy the rate cuts and market euphoria now, worry about tariffs and deficits later
Powell leaves door open to another cut in December, depending on the rate of inflation and if the labour market softens further THE US…
Business
UOB looks to take ‘full advantage’ of excess capital by end of this year: CEO Wee Ee Cheong
UOB is actively looking to manage its capital, and hopes it can find ways to take “full advantage” of the excess by the end of this year,…
Business
Soros Fund Management to shut Hong Kong office in rejig
SOROS Fund Management, founded by billionaire George Soros, plans to shut its Hong Kong office as part of an administrative…
Business
Goldman promotes Singapore, Hong Kong and Japan bankers to partner
GOLDMAN Sachs promoted three Japanese nationals to its highest rank of executives, the most in more than a decade, after a revival in…
Business
Hot stocks: UOB adds S$4 billion to value as Singapore banks break share price ceilings
SHARES of UOB and OCBC leapt to levels never seen before, with both lenders surpassing street consensus estimates in their third-quarter…
Business
Baidu readies AI smart glasses to rival Meta’s Ray-Bans
BAIDU is set to unveil a pair of glasses with a built-in artificial intelligence (AI) assistant, putting up a Chinese rival to the Meta…
Business
Sats unlikely to resume dividend payout ratio of 70-80%, but quantum will rise in tandem with profit
The group aims for over S$8 billion in revenue, return on equity of higher than 15%, and net profit margin of over 5% in FY2029 IN-FLIGHT…
Business
Gold extends gains on Fed rate cut, but heads for weekly fall
GOLD prices inched higher on Friday (Nov 8), extending gains spurred by the US Federal Reserve’s widely anticipated quarter-point rate cut…