Posts by Liam Redmond
Heavy selling wipes nearly a billion dollars off Yangzijiang Shipbuilding’s value as its shares plummet 9%
Shares of Yangzijiang Shipbuilding dropped as much as 16 per cent on Thursday (Feb 27), a day after it posted earnings and in a week when the US proposed to slap fees on Chinese-built vessels entering US ports. Just past 10 am, shares of the Singapore-listed maritime vessel maker plunged to roughly S$2.28. That drop built…
Read MoreGemini’s Winklevoss says SEC closed investigation with no action
GEMINI Trust, owned by billionaire Winklevoss twins, was told by the US Securities and Exchange Commission (SEC) that the agency has closed its investigation into the crypto exchange according to a posting on X by Cameron Winklevoss. A spokesperson for the SEC did not respond to a request for comment. Gemini also did not respond…
Read MoreGold gains on Trump tariff worries; US inflation data in focus
GOLD prices edged higher on Thursday (Feb 27) as concerns persisted over US President Donald Trump’s tariff plans, while investors awaited a key inflation report to assess the Federal Reserve’s policy path. Spot gold was up 0.1 per cent at US$2,918.22 an ounce, as at 0018 GMT. US gold futures rose 0.1 per cent to…
Read MoreGoldman Sachs adds Waldron to board, lining up potential CEO succession
GOLDMAN Sachs added its president and chief operating officer John Waldron to its board of directors a month after he was given a retention bonus, cementing his position as a potential successor to CEO David Solomon. Waldron, 55, joins Solomon, 63, as the second member of the management committee to have a seat on the board.…
Read MoreExclusive | Goldman Sachs set to roll back DEI policies: sources
Goldman Sachs is set to scale back some of its diversity, equity, and inclusion policies amid a White House-backed crackdown on so-called “woke” capitalism, The Post has learned. CEO David Solomon will change course amid the threat of possible lawsuits after President Donald Trump ordered US Attorney General Pam Bondi to stamp out so-called DEI…
Read MoreNissan prepares to replace CEO after Honda deal falls apart
NISSAN Motor is drawing up plans to replace its chief executive officer following another dismal set of earnings and the collapse of talks to combine with Honda Motor, according to sources familiar with the matter. Nissan directors are gauging interest in potential candidates to succeed Makoto Uchida, the 22-year company veteran who’s been CEO since…
Read MoreBumitama Agri’s H2 profit climbs 13.5% to 1.43 trillion rupiah
INDONESIAN palm oil producer Bumitama Agri posted a 13.5 per cent increase in net profit to 1.43 trillion rupiah (S$116.9 million) for the second half ended December, from 1.26 trillion rupiah in the previous corresponding period. This translates to earnings per share of 825 rupiah for H2 2024, up from 727 rupiah in the year-ago…
Read MoreSeven & i says founding family unable to secure funding for US$58 billion buyout
JAPAN’S Seven & I Holdings said on Thursday the retailer’s founding Ito family could not secure the financing required for a US$58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard. “There is no actionable proposal from Mr. Junro Ito and Ito-Kogyo for 7&i to consider at this time,” the…
Read MoreTrump orders 30-day freeze on use of US government credit cards
President Trump directed federal agencies on Wednesday to implement a 30-day freeze on the use of government-issued credit cards as part of his latest executive order. The order implements the Department of Government Efficiency’s “Cost Efficiency Initiative,” which aims to ensure that “government spending is transparent and government employees are accountable to the American public.”…
Read MoreBitcoin ETFs are hit by a record US$1 billion outflow in one day
INVESTORS yanked more than US$1 billion from spot Bitcoin exchange-traded funds (ETFs) on Tuesday (Feb 25), marking the biggest one-day outflow since the cohort’s debut last January. Fidelity Wise Origin Bitcoin Fund (ticker FBTC) posted the steepest outflows among these funds, followed by the iShares Bitcoin Trust ETF (IBIT), according to data compiled by Bloomberg.…
Read MoreSembcorp doubles dividend on higher earnings, shuffles business leadership
It proposes final dividend of S$0.17 per share, compared with S$0.08 in the previous period SEMBCORP Industries on Thursday (Feb 27) reported a 14 per cent rise in total net profit to S$471 million for the second half ended Dec 31, 2024, from S$412 million in the year-ago period. This accounts for exceptional items including…
Read MoreSembcorp H2 profit rises 14% to S$471 million; shuffles business leadership
SEMBCORP Industries on Thursday (Feb 27) reported a 14 per cent rise in total net profit to S$471 million for the second half ended Dec 31, 2024, from S$412 million in the year-ago period. This accounts for exceptional items including disposal of assets and a gain on a “bargain purchase” on an acquisition in India,…
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