Posts by Liam Redmond
Netflix buying back US$25 billion in stock after share decline
The announcement comes days after the company reported disappointing financial results Published Thu, Apr 23, 2026 · 08:32 PM [LOS ANGELES] Netflix plans to buy back another US$25 billion in stock after a disappointing financial outlook sent shares of the streaming pioneer plunging. The board endorsed the programme, which adds to a share buyback authorised…
Read MoreNorway’s 20 trillion kroner wealth fund loses 1.9% due to tech stocks slide
Published Thu, Apr 23, 2026 · 08:30 PM [OSLO] Norway’s wealth fund lost 1.9 per cent in the first quarter, dragged down by investments in US technology stocks as the war in the Middle East rattled markets. The value of the fund, managed by Norges Bank Investment Management (NBIM), fell by 1.27 trillion Norwegian kroner…
Read MoreLululemon names former Nike executive O’Neill its next CEO
The new CEO must now drive growth as the company loses its grip on the athleisure market Published Thu, Apr 23, 2026 · 08:08 PM [VANCOUVER] Lululemon Athletica named Heidi O’Neill its new chief executive officer as the athletic retailer looks to move beyond a turbulent period of slowing growth and investor unrest. O’Neill, who…
Read MoreAmerican Airlines cuts 2026 forecast as high fuel costs hurt margins
Published Thu, Apr 23, 2026 · 07:57 PM [NEW YORK] American Airlines cut its 2026 profit forecast on Thursday (Apr 23), as sky-high jet fuel costs driven by the Iran war eat into profit margins. Jet fuel prices, typically accounting for about a quarter of airline operating expenses, have nearly doubled since the conflict erupted,…
Read MoreST Engineering shrugs off Middle East shocks, stays upbeat on satcom outlook
The impact of the conflict is ‘assessed to be not material at the group level’, says CEO Vincent Chong [SINGAPORE] Even as fuel and logistics costs rise, ST Engineering remains upbeat on its ability to deal with the fallout from the war in the Middle East. “The impact is assessed to be not material at…
Read MoreSTI slides 1.2% as Brent price rises above US$100
Across the broader market, losers beat gainers 389 to 226, with 1.8 billion securities worth S$2.3 billion changing hands [SINGAPORE] Singapore blue chips closed lower on Thursday (Apr 23) as Brent crude oil breached US$100 a barrel amid persistent tensions in the Middle East. The benchmark Straits Times Index (STI) lost 1.2 per cent or…
Read MoreVW cuts China sales targets and margins
The downgrade reflects slower structural growth in the world’s largest car market Published Thu, Apr 23, 2026 · 04:51 PM [FRANKFURT] Volkswagen has sharply lowered its ambitions for China, cutting long-term sales and profitability targets as competition intensifies, a leading executive told the Handelsblatt newspaper in an interview published on Thursday (Apr 23). Volkswagen’s top…
Read MoreAustralia’s biggest bank to cut 120 more jobs amid AI push
The reductions come two months after a separate round of cuts that will claim around 300 roles Published Thu, Apr 23, 2026 · 04:17 PM [SYDNEY] Commonwealth Bank of Australia (CBA) will eliminate around 120 roles amid a broader push to harness artificial intelligence at the nation’s largest lender. As part of the reductions, some…
Read MoreHao Mart shuts stores, sinks deeper into losses with four High Court lawsuits looming
[SINGAPORE] Supermarket and minimart chain Hao Mart has shrunk its network of outlets as it sinks further into the red, according to checks by The Straits Times. Hao Mart’s website on Apr 22 lists 20 outlets in Singapore, but only seven are operating when ST visited all the listed locations over a two-week period in…
Read MoreChina’s Xpeng expects to start delivering ‘flying’ cars in 2027
Like many other Chinese automakers, the EV maker has expanded overseas and currently operates in about 60 countries Published Thu, Apr 23, 2026 · 02:03 PM [BEIJING] Chinese electric vehicle maker Xpeng expects to start large-scale production of its “flying” cars next year and of its humanoid robots in the fourth quarter of 2026, president…
Read MoreSingapore Airlines deepens role at Air India amid record losses
Geopolitical disruptions have further inflated costs by forcing longer, more expensive routes at a time of surging jet fuel prices Published Thu, Apr 23, 2026 · 01:19 PM [DELHI] Singapore Airlines (SIA) is deepening its operational involvement in Air India, as the carrier battles record losses and recent safety lapses draw increasing concern, according to…
Read MoreStarbucks hunts for another tech office, including abroad
The coffee chain is looking at cutting about US$2 billion in costs while also hiring more store workers and renovating its cafes Published Thu, Apr 23, 2026 · 11:50 AM [CHICAGO] Starbucks is not stopping at Nashville. The coffee chain, which recently announced a new Tennessee office, is hunting for yet another location for technology…
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