Posts by Liam Redmond
Wells Fargo misses profit estimates on severance costs, shares fall
WELLS Fargo missed analysts’ profit estimates in the fourth quarter on Wednesday, after it booked US$612 million in severance expenses as part of CEO Charlie Scharf’s effort to streamline operations, sending the bank’s shares lower. Its shares closed down 4.6 per cent at US$89.25, recording its biggest one-day percentage loss in six months. The bank…
Read MoreVanessa and Kai Trump dress to the nines for Tiger Woods’ lavish 50th birthday bash
Vanessa and Kai Trump were spotted dressed to the nines for Tiger Woods’ massive 50th birthday bash. The lavish soirée — said to be taking place at luxury Florida resort The Breakers on Wednesday — counted Vanessa, 48, and Kai, 18, among the high-profile guests. In exclusive snapshots obtained by Page Six, the ex-wife of…
Read MoreSingapore shares edge lower at Thursday’s open; STI dips 0.1%
Investors continue to wait in uncertainty after the US Supreme Court did not issue a ruling on the challenges to ‘Liberation Day’ tariffs [SINGAPORE] Singapore stocks edged lower at market open on Thursday (Jan 15), tracking overnight losses on Wall Street. The Straits Times Index (STI) shed 3.83 points or 0.1 per cent to 4,808.68…
Read MoreOil prices sink more than 2% as Trump remarks calm concern about Iran
[TOKYO] Oil prices slid more than 2 per cent in early Asian trade on Thursday after US President Donald Trump said killings in Iran’s crackdown on nationwide protests were stopping, tempering concern over military action against Iran and supply disruption. Brent futures were down US$1.67, or 2.5 per cent, at US$64.85 a barrel at 0109…
Read MoreKKR Asia credit fund draws 75% new investors as decoupling rises
The optimism around Asian private credit runs counter to a broader global pullback [HONG KONG] KKR raised three-quarters of its US$2.5 billion Asia private credit fund from new investors, as deepening economic decoupling pushes firms to broaden exposure and hedge geopolitical risk, according to top executives. Diversification has been a central theme in conversations with…
Read MoreHochul wants to open medical marijuana center — but critics say plan is half-baked
New York’s health system may soon go up in smoke. Gov. Kathy Hochul wants to open the nation’s first medical center for “cannabis care” that will offer residencies for medics-in-training wanting to pair their Hippocratic Oaths with hydroponic tokes. Hochul claims her proposed “Center for Excellence for Cannabis Care and Health Equity” will boost access…
Read MoreChina brokers rebuild ranks, raise pay on dealmaking return
CHINA’S biggest securities firms are back on the offensive after taking a battering over the past few years. Investment banking divisions of major brokerages, including Citic Securities, Huatai Securities and CSC Financial, have in recent months recruited dozens of junior and mid-level bankers, according to sources familiar with the moves, who asked not to be…
Read MoreUOB prices S$850 million perpetual securities at 3%
[SINGAPORE] UOB has priced S$850 million in perpetual capital securities at 3 per cent under its US$30 billion Global Medium Term Note Programme, the bank announced on Wednesday (Jan 14). The issue date of the securities is expected to be Jan 21, and the securities are first callable in 2033. The rate is subject to…
Read MoreStocks to watch: UOB, Sembcorp, CICT, First Sponsor, Advanced Systems Automation, Moneymax
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jan 15): UOB : UOB has priced S$850 million in perpetual capital securities at 3 per cent under the bank’s US$30 billion Global Medium Term Note Programme. The issue date is expected to be Jan 21. The securities are…
Read MoreTrump’s Greenland gambit is a sideshow the forces of freedom don’t need
We’re not loving President Donald Trump’s Greenland sideshow, and Wednesday’s White House talks don’t improve the plot. After meeting with Vice President JD Vance, Secretary of State Marco Rubio and Greenland Foreign Minister Vivian Motzfeldt, Lars Rasmussen, Denmark’s foreign minister, ruefully remarked that his nation and the United States have a “fundamental disagreement” over Greenland;…
Read MoreThe STI had a record-breaking 2025, but one SGX-listed ETF drew even more inflows
[SINGAPORE] In the past year, retail investors booked S$2.6 billion of net inflows into Singapore stocks, bringing net retail inflows for the past six years to S$17 billion. DBS Group Holdings , UOB and OCBC led in net retail inflows, chalking up a combined amount of close to S$3.9 billion. In particular, the trio of…
Read MorePrivate equity turns to continuation funds, secondary buyouts as alternative to traditional exits: Morrison Foerster
This trend will likely continue in South-east Asia and globally as liquidity engineering goes mainstream [SINGAPORE] Private equity (PE) in South-east Asia is expected to increasingly turn to continuation funds and secondary buyouts as alternatives to traditional exits in 2026, according to a report by law firm Morrison Foerster. This has allowed PE players to…
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