Posts by Liam Redmond
Consumers sue Amazon for not refunding Trump tariff costs
The lawsuit asserts claims of unjust enrichment and violation of Washington state’s consumer-protection law Published Sat, May 16, 2026 · 12:57 PM [BOSTON] Amazon.com was sued on Friday (May 15) by consumers seeking refunds for costs passed on to them in the form of higher prices as a result of tariffs the US Supreme Court…
Read MoreSpaceX accelerates IPO timeline, targets June 12 listing on Nasdaq: sources
Published Sat, May 16, 2026 · 12:20 PM [NEW YORK] Elon Musk’s rocket and satellite maker SpaceX is aiming to list its shares as early as Jun 12 and has picked the Nasdaq as the trading venue for its blockbuster market debut, sources familiar with the matter told Reuters on Friday (May 15). The listing,…
Read MoreGlobal bonds battered as flaring inflation spooks investors
Published Sat, May 16, 2026 · 11:39 AM [LONDON/NEW YORK] Bond markets are bracing for interest-rate pain in a way they have not in decades, as investors assess the economic costs of the war with Iran and how the global economy will bear those burdens. Benchmark 10-year US Treasury yields hit their highest in around…
Read MoreFed names Powell chair pro tempore until Warsh sworn in
The incoming Fed chief has pledged to divest sizeable financial assets before taking office Published Sat, May 16, 2026 · 10:03 AM [WASHINGTON] The US Federal Reserve on Friday (May 15) named Jerome Powell the temporary chair of the Board of Governors until his successor Kevin Warsh is officially sworn in, the central bank said…
Read MoreStoxx 600 logs weekly losses on Iran war-linked inflation woes
Published Sat, May 16, 2026 · 08:21 AM [BENGALURU] Europe’s Stoxx 600 slid and logged weekly losses on Friday (May 15) as concerns over energy-induced inflation pressures due to the US-Iran standoff rattled global markets. The pan-European benchmark closed down 1.5 per cent at 606.92 points, snapping two straight days of gains. Germany’s DAX declined…
Read MoreWall Street ends lower on mounting inflation worries
Published Sat, May 16, 2026 · 07:46 AM [NEW YORK] US stocks retreated from artificial-intelligence-fuelled record highs on Friday (May 15), as spiking crude prices ignited global inflation fears. All three major US stock indexes veered sharply lower, each shedding more than 1 per cent as a jump in benchmark Treasury yields, reflecting surging energy…
Read MoreUS debt load could undercut Warsh‘s plan to shrink Fed balance sheet
[WASHINGTON] Incoming Federal Reserve chief Kevin Warsh‘s plans to shrink the US central bank’s “footprint” in financial markets could be constrained by rising federal debt and the potentially lost luster of US Treasuries, analysts said, with rising long-term interest rates a sign of the challenge awaiting the new Fed chair. Yields on US Treasury bonds headed…
Read MoreH&M lays off staff in Singapore, moves regional headquarters to Malaysia
Published Fri, May 15, 2026 · 10:15 PM [SINGAPORE] Swedish fashion retailer H&M has laid off staff in Singapore as it relocates its South-east Asian headquarters from Singapore to Kuala Lumpur. This was announced in a formal communication to its staff on May 11, according to media reports in Malaysia. The Singapore office accounted for…
Read MoreWall St down at open as yields jump on inflation worries
Published Fri, May 15, 2026 · 09:44 PM [NEW YORK] Wall Street indexes opened sharply lower on Friday (May 15), as inflation fears triggered by the Middle East conflict drove up Treasury yields and threatened to halt an AI-fuelled rally. The Dow Jones Industrial Average fell 133.2 points, or 0.27 per cent, at the open…
Read MoreStarbucks cuts 300 US corporate jobs and closes some regional offices
It’s also reviewing its international support organisations and expects more job cuts outside the US Published Fri, May 15, 2026 · 09:25 PM [WASHINGTON] Starbucks is laying off 300 US corporate employees in its regional support offices as it seeks to return to “durable, profitable growth,” the company announced early Friday (May 15). The company…
Read MoreSamsung executives make rare union visit as strike fears mount
Published Fri, May 15, 2026 · 08:58 PM SAMSUNG Electronics’ top management made a rare visit to leaders of the company’s largest labour union late Friday in an effort to revive stalled wage negotiations after government-mediated talks collapsed earlier this week. Samsung shares fell 8.6 per cent in Seoul trading Friday, underscoring mounting investor concerns…
Read MoreSingLand buys out UOB’s stake in Novena Square JVs for S$299 million
The move will enhance SingLand’s share of recurring income from a stabilised asset, the company says [SINGAPORE] Property player Singapore Land Group (SingLand) has purchased UOB’s shares in two entities related to the shopping mall Novena Square for S$299 million in cash. In a Friday (May 15) bourse filing, SingLand said that one of its…
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