Posts by Liam Redmond
Nomura raises annual profit target 50% after record year
It seeks to post at least 750 billion yen (S$6.01 billion) in annual pretax income by the year ending March 2031 Published Thu, May 28, 2026 · 03:51 PM [TOKYO] Nomura Holdings raised its profit targets following a year of record earnings, as chief executive officer Kentaro Okuda pushes for stable growth. Japan’s biggest brokerage…
Read MoreEuropean shares drop as escalating US-Iran tensions weigh on sentiment
Published Thu, May 28, 2026 · 03:48 PM EUROPEAN shares slipped on Thursday as escalating tensions in the Middle East clouded the outlook for an imminent deal to open the Strait of Hormuz and added to concerns about the health of the global economy. The pan-European Stoxx 600 dropped 0.4 per cent to 625.83, as of 0806…
Read MoreAustralian shares retreat to 1-week closing low on fresh US-Iran flare-up
Published Thu, May 28, 2026 · 03:20 PM [SYDNEY] Australian shares closed at their lowest in a week on Thursday (May 28), with most sectors finishing in the red, after fresh US military strikes on Iran clouded the possibility of an imminent peace deal in the Gulf, denting investor risk appetite. The S&P/ASX 200 index…
Read MoreJD.com founder vows to protect Chinese jobs from AI and robots
Published Thu, May 28, 2026 · 03:19 PM [BEIJING] JD.com founder Liu Qiangdong vowed to prevent the e-commerce firm’s 900,000-strong workforce from losing their jobs to automation, seeking to allay growing fears that the adoption of AI and robotics could replace workers. The company, which is one of the country’s largest employers by headcount, will…
Read MoreUS private credit risks not mirrored in South-east Asia: IFS Capital CEO
Randy Sim explains why the region’s credit landscape looks nothing like that of the US and why we should differentiate them [SINGAPORE] Private credit may be dominating global financial headlines, but Randy Sim, group CEO of Singapore Exchange-listed IFS Capital, is quick to draw a line between what is happening in US direct lending and…
Read MoreByteDance developing custom CPU chips to support AI roll-out: sources
Published Thu, May 28, 2026 · 02:46 PM [BEIJING/PARIS] Chinese technology giant ByteDance is developing its own central processing units (CPUs) to support its growing AI infrastructure needs, three people familiar with the matter said, as surging chip prices and prolonged supply shortages constrain its expansion plans. The move underscores the industry’s rapid shift towards…
Read MoreMalaysia steps on gas, cuts coal use as power demand surges to record
The country’s energy commission expects warmer weather and data centres to continue to drive power demand this year Published Thu, May 28, 2026 · 01:36 PM [SINGAPORE/KUALA LUMPUR] Malaysia is tapping its offshore gas reserves to meet record power demand driven by a searing heatwave and data centres, even as countries across Asia burn more…
Read MoreShipping veteran Teo Siong Seng to take leave of absence from Pacific International Lines
He will not seek re-election as chair of Singapore Business Federation after his term ends in June [SINGAPORE] Shipping veteran Teo Siong Seng, who has been accused by the United States of colluding to fix the prices of dry containers, will take a leave of absence from his role as executive chairman and director of…
Read MoreTeo Siong Seng to take leave of absence from Pacific International Lines and NUS, in addition to SBF
He will not seek re-election as chair of Singapore Business Federation after his term ends in June [SINGAPORE] Shipping veteran Teo Siong Seng, who has been accused by the United States of colluding to fix the prices of dry containers, will take a leave of absence from his role as executive chairman and director of…
Read MoreWilmar says it has not received official notice of Indonesia probe into suspected export under-invoicing
The company’s shares are down 4% as at midday, after falling 10.5% in early trading on Thursday [SINGAPORE] Wilmar International said in a bourse filing on Thursday (May 28) that it has not received official notification of being under investigation by the Indonesian authorities for suspected under-invoicing and transfer-pricing of exports. The agribusiness giant added…
Read MoreCompetition watchdog clears SP Mobility’s acquisition of ChargEco
[SINGAPORE] The Competition and Consumer Commission of Singapore (CCS) has conditionally approved the proposed acquisition of ChargEco by SP Mobility, the competition watchdog announced on Thursday (May 28). The green light comes after SP Mobility offered a series of pricing and non-discriminatory commitments to address antitrust concerns. The watchdog had flagged potential risks following a…
Read MoreChina’s auto industry is unlikely to return to ‘golden era’, Nio CEO says
A rebound in the domestic market has yet to materialise, despite the sector’s continued export strength Published Thu, May 28, 2026 · 12:21 PM [BEIJING] China’s auto industry has likely moved past its “golden era”, Nio chief executive William Li said on Thursday (May 28), as a downturn in domestic car sales extended into May.…
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