Posts by Liam Redmond
New York City spared downgrade by Fitch and Moody’s, for now
Published Sat, Aug 1, 2026 · 10:13 AM [NEW YORK] New York City avoided a debt downgrade on Friday (Jul 31) by two major credit-rating companies, though both warned the city must take steps to narrow projected deficits or risk a cut – despite the current boom on Wall Street. Fitch Ratings and Moody’s Ratings…
Read MoreOil prices settle more than 1% higher, log strongest month since March
Brent futures settle 1.2% higher at US$90.12 a barrel, while US West Texas Intermediate futures close up 1.3% at US$84.67 a barrel Published Sat, Aug 1, 2026 · 09:58 AM [NEW YORK] Oil prices closed more than US$1 per barrel higher on Friday (Jul 31), ending July with their biggest monthly gains since March, as…
Read MoreUS: Wall Street ends higher as Amazon soothes AI jitters
[BENGALURU] Wall Street ended higher on Friday (Jul 31), lifted by Amazon as the tech heavyweight’s strong quarterly report bolstered investor confidence in artificial intelligence-related stocks, while Apple dropped after its results disappointed investors. Amazon.com surged over 15 per cent after posting its biggest quarterly revenue growth in over four years. Its results, along with…
Read MoreOUE to book H1 FY2026 net loss on associate losses, impairment charge
It owns 29.07% of an investee company which has been hit by the slowdown of the property market in China [SINGAPORE] OUE is expected to book a net loss for the first half ended Jun 30, said the group in a bourse filing on Friday (Jul 31). The expected losses come mainly from the share…
Read MoreChevron records highest quarterly profit in six years, beating analyst estimates
Published Fri, Jul 31, 2026 · 10:01 PM [HOUSTON] Chevron surpassed analyst estimates for second-quarter earnings on Friday (Jul 31), reporting its highest quarterly profit in at least six years as the US-Israeli war with Iran disrupts world energy markets, boosting profits for the biggest oil companies. Adjusted earnings of US$12 billion, or US$6.06 per…
Read MoreNasdaq opens higher as Amazon surge offsets Apple decline
Published Fri, Jul 31, 2026 · 09:46 PM [NEW YORK] The Nasdaq opened higher on Friday (Jul 31), boosted by Amazon’s 12 per cent jump after the Big Tech company joined some of its peers in delivering strong cloud revenue growth, putting to rest concerns about AI returns. The Dow Jones Industrial Average rose 27.0…
Read MoreExxonMobil misses second-quarter profit estimates
High oil prices and refining margins due to the Iran war led to its biggest quarterly profit in four years Published Fri, Jul 31, 2026 · 08:43 PM [HOUSTON] ExxonMobil missed Wall Street estimates for second-quarter profit on Friday (Jul 31), sending its shares down about 2 per cent in premarket trading, even as high…
Read MoreIndofood Agri Resources’ H1 net profit rises 31.6% to US$24.6 million
Revenue is up 2.5% on the back of higher sales from the group’s edible oils and fats division [SINGAPORE] Indofood Agri Resources on Friday (Jul 31) posted a 31.6 per cent increase in net profit to 444.5 billion rupiah (US$24.6 million) for the first half ended Jun 30, from 337.8 billion rupiah for the year-ago…
Read MoreConcord New Energy enters into 3 power purchase agreements with Tesla
[SINGAPORE] Concord New Energy Group said on Friday (Jul 31) that it has inked three power purchase agreements (PPAs) with Tesla for solar projects in the US. They are on a long-term basis, and for three solar projects with a total capacity of about 469 megawatts (alternating current). The aim of the PPAs is to…
Read MoreNewly listed Kin Global to book H1 net loss on one-off listing expenses, delayed project awards
[SINGAPORE] Sports events manager Kin Global is expected to post a net loss for the first-half ended Jun 30, reversing from a net profit in the year-ago period. The company, which listed on the Catalist board of the Singapore Exchange in April, incurred one-off listing expenses. Excluding these costs, it would have recorded “a marginal…
Read MoreHotel Properties Limited expects H1 net loss after negative impact from Middle East conflict
Borrowing costs remain elevated as a result of additional borrowings undertaken to fund new acquisitions [SINGAPORE] Hotel Properties Limited (HPL) said on Friday (Jul 31) that it is expected to report a net loss for its half year ended Jun 30. This is mainly due to the adverse impact of the ongoing conflict in the…
Read MoreSingapore stocks fall, bucking regional trend; STI down 0.8%
Published Fri, Jul 31, 2026 · 05:59 PM [SINGAPORE] Singapore stocks ended lower on Friday (Jul 31), even as key regional indices ended higher. The benchmark Straits Times Index (STI) lost 0.8 per cent or 45.08 points to finish at 5,628.50. DFI Retail Group led the gainers on Singapore’s blue-chip index, rising 5.6 per cent…
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