Posts by Liam Redmond
Australian shares fall for third day as banks weigh ahead of federal budget
Published Tue, May 12, 2026 · 04:08 PM AUSTRALIA’S equity benchmark fell for a third straight session on Tuesday, with banks leading losses, as investors braced for a federal budget promising spending restraint and selective reform. The S&P/ASX 200 closed 0.4 per cent lower at 8,670.70, sliding 2.4 per cent over the last three sessions.…
Read MoreHitachi to mull US$640 million stake sale in machinery firm
A 180-day lockup that restricted Hitachi from selling the shares expired last week Published Tue, May 12, 2026 · 03:09 PM [TOKYO] Japanese industrial electronics maker Hitachi is looking to offload about 8 per cent of Hitachi Construction Machinery shares in block trades, according to people familiar with the matter. The amount could be around…
Read MoreChina’s independent refiners cut output in May as losses mount: sources
Published Tue, May 12, 2026 · 01:11 PM [SINGAPORE] Some independent refiners in China’s eastern province of Shandong are cutting fuel output on crumbling margins after the Iran war drove up crude costs as they battle weak domestic demand and excess products, trade and refining sources said. The cuts in China’s largest independent refinery hub…
Read MoreChina’s independent crude refiners cut output in May as losses mount amid Iran war: sources
Published Tue, May 12, 2026 · 01:11 PM [SINGAPORE] Some independent refiners in China’s eastern province of Shandong are cutting fuel output on crumbling margins after the Iran war drove up crude costs as they battle weak domestic demand and excess products, trade and refining sources said. The cuts in China’s largest independent refinery hub…
Read MoreFranklin Templeton appoints former BOS managing director to new Apac private markets wealth role
Chee Jiun Wen will be based in Singapore and will focus on expanding the company’s private markets franchise across the region [SINGAPORE] Global asset manager Franklin Templeton on Tuesday (May 12) announced the appointment of Chee Jiun Wen as the head of private markets for Asia-Pacific wealth. The appointment comes as demand for private markets strategies continues…
Read MoreUMS Integration up 14.4% after posting ‘strong’ double-digit sales growth in Q1
It declares a S$0.01 per ordinary share a tax-exempt cash dividend, payable on Jul 24 [SINGAPORE] UMS Integration on Monday (May 11) posted a 43 per cent surge in earnings to S$14 million for its first quarter ended Mar 31, from S$9.8 million in the previous corresponding period. As at 9.33 am on Tuesday, the…
Read MoreGlobal central banks tap most yuan swap lines with China in two years
Published Tue, May 12, 2026 · 10:05 AM [BEIJING] Global central banks’ use of the People’s Bank of China’s (PBOC) swap lines reached a two‑year high in the first quarter, underscoring rising international demand for the Chinese currency. By the end of March, central banks worldwide had drawn a total of 111.6 billion yuan (S$21…
Read MoreOversight chair seeks information from OpenAI’s Sam Altman about potential financial conflicts
WASHINGTON — The chair of the House Oversight Committee has sent a letter to OpenAI Chief Executive Sam Altman requesting information about potential conflicts of interest between Altman’s personal investments and his operation of the company. The letter, sent Friday, comes amid a high-stakes legal battle currently playing out in an Oakland federal courtroom between onetime partners…
Read MoreGrab seeks AI edge in product development using agentic engineering, vibe coding
Company aims to become a ‘cyborganisation’, where humans and artificial intelligence agents work together [SINGAPORE] Artificial intelligence is aiding Grab in its product development, boosting productivity for engineers and allowing non-technical staff to launch prototypes for testing faster. Take, for example, one of the products launched at the super app’s recent GrabX product showcase in…
Read MoreOCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
The lender’s new wealth management committee could hold the key to a successful execution of its ‘Next Frontier’ pivot [SINGAPORE] OCBC head of global consumer financial services Sunny Quek has big ambitions. After doubling the lender’s consumer banking wealth business since he stepped into his current role in 2022, he is ready to do it…
Read MoreEuropean shares muted as markets weigh US-Iran deadlock
The war has shuttered the Strait of Hormuz with soaring oil prices adding to concerns over the conflict’s impact on inflation and growth Published Tue, May 12, 2026 · 05:52 AM [BENGALURU] European shares ended on Monday’s (May 11) session flat, constrained by a drop in luxury stocks, while stalled US-Iran peace negotiations drove oil…
Read MoreUS stocks: Wall Street pauses after record run as US-Iran talks stall
Published Mon, May 11, 2026 · 11:23 PM WALL Street’s main indexes paused on Monday (May 11), after last week’s record-setting rally, as renewed worries over stalled US-Iran talks weighed on risk appetite. US President Donald Trump’s swift rejection of Iran’s response to a US peace proposal stoked worries that the 10-week-old conflict could drag…
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