Posts by Liam Redmond
Billionaire founder of Chinese broker Futu faces his toughest test
A securities fraud class action lawsuit is pending against Futu, Li Hua, chief financial officer Chen Yu [HONG KONG] From an early engineer at Tencent to the billionaire founder of Futu, Li Hua built one of China’s most prominent online brokerages. Now, the cross-border business model that powered Futu’s rise has exposed the 49-year-old entrepreneur to the…
Read MoreOil falls on report China pushing for end US-Iran war
Published Sat, Jul 25, 2026 · 08:40 AM [HOUSTON] Crude oil futures prices were more than 4 per cent lower on Friday (Jul 24) after sources said that China had initiated a push to resume stalled peace talks between the US and Iran, but remained on track for hefty weekly gains. Both Brent and US…
Read MoreEurope: Shares gain as SAP lifts tech stocks; Middle East on watch
Published Sat, Jul 25, 2026 · 08:28 AM [BENGALURU] European shares rose on Friday (Jul 24) after registering their steepest one-day loss in two weeks in the previous session, as investors drew comfort from some corporate earnings and assessed the impact higher oil prices could have on monetary policy. The pan-European Stoxx 600 index edged…
Read MoreUS: Nasdaq lags on angst over AI spending ahead of earnings reports
Published Sat, Jul 25, 2026 · 08:11 AM [NEW YORK] The tech-heavy Nasdaq fell on Friday (Jul 24) as investors sold chip stocks on worries about massive spending on artificial intelligence ahead of the next batch of megacap earnings reports, while falling oil prices provided Wall Street with some support even as Middle East hostilities…
Read MoreSias questions Accrelist after audit adjustments quadruple its FY2026 net loss
It is also asked about the material variation between its unaudited and audited statements in nine of the last 10 financial years [SINGAPORE] The Securities Investors Association (Singapore), or Sias, has called on medical aesthetics firm Accrelist to clarify why the group has repeatedly reported material variances between its unaudited and audited financial statements. This…
Read MoreAmEx lifts revenue forecast, unchanged profit outlook weighs on shares
Billed business, a measure of total spending on AmEx cards, rose 9% to US$455.8 billion Published Fri, Jul 24, 2026 · 10:00 PM [NEW YORK] American Express beat second-quarter profit estimates and raised its 2026 revenue forecast, helped by strong spending from affluent customers, but its shares slipped on Friday as investors focused on an…
Read MoreWall St opens subdued after tech rout; Mideast, tariffs in focus
Published Fri, Jul 24, 2026 · 09:45 PM [NEW YORK] Wall Street’s main indexes opened subdued on Friday (Jul 24) after a tech-led selloff in the previous session, as investors digested fresh earnings, escalating Middle East tensions and a new tariff announcement from the Trump administration. The Dow Jones Industrial Average rose 79.7 points, or…
Read MoreiFast posts 35% rise in Q2 net profit to S$29.8 million
Its directors are proposing a dividend of S$0.03 per share, up from S$0.02 per share in the year-ago period [SINGAPORE] Digital bank and wealth management platform iFast reported a 35 per cent increase in net profit for the second quarter ended June to S$29.8 million, from S$22.1 million in the year-ago period. Earnings per share…
Read MoreYen heads for biggest weekly drop since May despite Tokyo’s support pledges
Published Fri, Jul 24, 2026 · 08:29 PM [LONDON] The yen was on course for its steepest weekly decline since May on Friday (Jul 24), capping a turbulent stretch that has sent the currency to new 40-year lows versus the dollar despite Japan’s pledges to stabilise the currency. Verbal efforts to support the yen have…
Read MoreAir India investment receives ‘full attention’ from whole board: SIA chairman
[SINGAPORE] Singapore Airlines (SIA) chairman Peter Seah assured shareholders at the group’s 54th annual general meeting (AGM) that the board of directors is on top of its billion-dollar investment in Air India. “I can assure you that this subject receives full attention from the whole board, so it’s not delegated to management,” he said in…
Read MoreLim Joo Lee to replace Russell Ng as Aims Apac Reit CEO on Oct 1
Ng is stepping down to pursue other professional interests after being at the helm for nearly 5 years [SINGAPORE] The chief executive officer of Aims Apac Real Estate Investment Trust (Reit), Russell Ng, will step down from his position on Sep 30 this year. This comes as the 45-year-old will be pursuing “other professional interests,”…
Read MoreSK Hynix tycoon ordered to pay US$643 million divorce settlement
Published Fri, Jul 24, 2026 · 07:02 PM [SEOUL] SK Hynix billionaire Chey Tae-won was ordered by a South Korean court to pay his former wife 944 billion won (US$643 million) in a divorce settlement that brings the long-running feud near a conclusion. If neither party appeal, the ruling from the Seoul High Court on…
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