Posts by Liam Redmond
US: Wall Street skids as Middle East turmoil fans inflation fear
Published Sat, Mar 21, 2026 · 08:20 AM [SAN FRANCISCO] Wall Street ended sharply lower on Friday (Mar 20), with the S&P 500 closing at its lowest in six months, as the US-Israeli war against Iran entered its fourth week, deepening worries about inflation and the potential for higher interest rates. The conflict in the…
Read MoreIndustry body for remisiers marks 40 years amid Singapore equities rally
Industry leaders note the profession’s expanding influence in the local equities market [SINGAPORE] Remisiers here are looking to rebound with “stronger networks and sharper skills” amid the popularity of fintech brokerages, said S Nallakaruppan, president of The Society of Remisiers (Singapore), or SRS. He was speaking at the industry body’s 40th-anniversary gala dinner on Friday…
Read MoreChina to allow more banks to handle digital yuan: sources
Published Sat, Mar 21, 2026 · 08:00 AM [SHANGHAI/BEIJING] China will allow a dozen additional banks to handle its digital yuan, three people with knowledge of the plans said, as Beijing pushes to accelerate use of the digital currency under a strategy that contrasts sharply with the US approach. The 12 new banks picked to…
Read MoreUBS gets final nod for US bank licence amid growth push
Published Fri, Mar 20, 2026 · 11:54 PM [ZURICH] UBS Group has been given the green light for a full-blown US bank licence in a boost for the bank’s ambitions to grow in the region. The Swiss lender “has received approval to convert our US bank, UBS Bank USA, to a nationally chartered bank,” it…
Read MoreCBS News cuts 6% of workers, citing changes in the industry
Published Fri, Mar 20, 2026 · 10:59 PM [NEW YORK] Paramount Skydance’s CBS News cut 6 per cent of its workforce on Friday (Mar 20) as it seeks to adapt to changes in the news industry. CBS News editor-in-chief Bari Weiss and president Tom Cibrowski said that the affected employees would be informed by the…
Read MoreIran war could be first ‘stress test’ for Singapore’s centralised gas buyer
LNG markets could get more volatile, especially if the conflict extends into the mid-year [SINGAPORE] The escalating conflict in the Middle East has put Singapore’s energy safeguards in the spotlight, and could be an early test for its recently-formed central gas buyer, Singapore GasCo. The conflict “could prove to be GasCo’s first stress test in…
Read More‘Marketing expenditure’: Union Gas CEO on how Cnergy is drawing petrol queues even as prices climb
CEO Teo Hark Piang says the company is intentionally absorbing rising wholesale oil prices to build market share [SINGAPORE] As the global oil shock pushes pump prices at major petrol retailers well past the S$3 a litre mark, Cnergy’s stations continue to undercut the competition in what its management says is a calculated move to…
Read MoreSuper Micro co-founder charged with sending AI tech to China
The news sent Super Micro’s shares plummeting more than 20% in pre-market trading Published Fri, Mar 20, 2026 · 07:47 PM [NEW YORK] The US charged a Super Micro Computer co-founder with illegally diverting billions of US dollars in Nvidia-powered servers to China, initiating its highest-profile case against alleged smuggling of restricted AI technology to…
Read MoreUnitree plans 4.2 billion yuan Shanghai IPO, testing interest in humanoid robots
Published Fri, Mar 20, 2026 · 07:27 PM [BEIJING] Chinese startup Unitree Robotics on Friday (Mar 20) filed an initial public offering application to the Shanghai Stock Exchange, seeking to raise 4.2 billion yuan (S$778.6 million), according to the prospectus, in a test of investor interest in humanoid robots. Unitree’s robots were the star of…
Read MoreGLP’s bonds slide by weekly record into distress
The sell-off nonetheless shows jitters among traders at a critical juncture for the company Published Fri, Mar 20, 2026 · 06:09 PM [SINGAPORE] Logistics operator GLP fell by records in credit markets this week after a report the firm disputed that China’s financial regulator informally guided insurers to limit transactions with its Chinese logistics and…
Read MoreSingapore stocks slip on Friday as oil volatility weighs; STI down 0.4%
[SINGAPORE] Singapore stocks ended lower on Friday (Mar 20), as the Iranian conflict continued for a third week and oil markets remained under pressure. The benchmark Straits Times Index (STI) fell 0.4 per cent or 18.74 points to 4,948.87. The iEdge Singapore Next 50 Index declined 0.9 per cent or 12.88 points to 1,464.78. The…
Read MorePentagon’s Anthropic bashing rekindles Silicon Valley’s resistance to war
Artificial intelligence powerhouse Anthropic’s battle with the Pentagon has sparked some soul-searching in Silicon Valley that could reshape the tech sector’s complicated relationship with war and the White House. Anthropic is the San Francisco-based startup behind the chatbot Claude and some of the most powerful AI on the market. In its negotiations with the military,…
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