Posts by Liam Redmond
CDL calls for trading halt as it cancels results briefing
City Developments Limited (CDL) announced on Wednesday (Feb 26) morning that it is canceling its results briefing that was scheduled to be held on the same day, pending announcements. That was to be at 10 am on Wednesday for both the media, as well as analysts. The company also issued a bourse filing shortly after…
Read MoreChina must cut 15% of steel capacity to meet 2025 climate goals
CHINA needs to tackle its steel glut by cutting 15 per cent of capacity this year, if mills are to meet their 2025 climate goals and return to profitability, according to clean energy analysts. To get back on track, the country’s annual blast furnace capacity has to shrink by at least 200 million tonnes from…
Read MoreInmate charged with 2023 murder of elderly UWS woman dies in NYC courthouse’s holding cell
A Rikers Island inmate charged with murdering an elderly Upper West Side woman in 2023 died Monday inside the Manhattan Criminal Courthouse after he suffered a seizure in a holding cell, according to officials. Terrence Moore, 55, suffered the medical episode and was later pronounced dead around 5 p.m. despite lifesaving efforts — making him…
Read MoreStocks to watch: OCBC, CDL, SingPost, Food Empire, SingLand, Aztech Global
THE following companies saw new developments that may affect trading of their securities on Wednesday (Feb 26): OCBC: The lender on Wednesday reported a net profit of S$1.69 billion for the fourth quarter ended December, up 4 per cent from S$1.62 billion in the previous corresponding period. This fell short of the S$1.78 billion consensus…
Read MoreCDL H2 net profit drops 54.7% to S$113.5 million
PROPERTY player City Developments Limited (CDL) posted a profit of S$113.5 million for its second half ended Dec 31, down 54.7 per cent from S$250.8 million in the previous corresponding period. This translates to a basic earnings per share (EPS) of S$0.121 against an EPS of S$0.27 in the year-ago period. H2 revenue fell 23.6…
Read MoreCDL H2 net profit drops 54.7% to S$113.5 million on property development segment’s lower contributions
PROPERTY player City Developments Ltd (CDL) posted a profit of S$113.5 million for its second half ended Dec 31, down 54.7 per cent from S$250.8 million in the previous corresponding period. This translates to a basic earnings per share (EPS) of S$0.121 against an EPS of S$0.27 in the year-ago period. H2 revenue fell 23.6…
Read MoreStarbucks to outsource some tech work after corporate shake-up
The goal is to shift full-time workers to the company’s most important initiatives while leaning on service providers for “speed and agility” STARBUCKS will outsource some technology work following a reorganisation that resulted in 1,100 job cuts across its corporate ranks. The Seattle-based chain started laying off workers on Monday (Feb 24), a move that…
Read MoreChina’s premier calls on big three telcom firms to step up R&D
A tariff war with the US is adding fresh urgency to finding new growth drivers, with Trump already imposing a 10 per cent levy on China CHINESE Premier Li Qiang called on the country’s top three telecom companies to step up research and development (R&D) in the aid of broader innovation and economic growth –…
Read MoreApple to keep DEI efforts, though some adjustments possible
APPLE investors rejected an outside shareholder proposal to end the iPhone maker’s diversity, equity and inclusion (DEI) efforts, though chief executive officer Tim Cook said that the company may make some adjustments to the programme. The company conducted the vote as part of its annual meeting, held virtually on Thursday (Feb 20), with Cook and…
Read MoreWith Ukraine war aid reaching $280 billion, who’s really funding the most – the US or EU?
Defending Ukraine in its war with Russia has cost $280 billion so far – and the US has contributed more than any other country. President Donald Trump has raised concerns about the cost of the war in Ukraine in recent days and the topic dominated his Monday meeting with French president Emmanuel Macron. Countries around…
Read MoreTrump to probe copper tariffs, opening door to new levy on metal
PRESIDENT Donald Trump signed an executive action directing the Commerce Department to examine possible copper tariffs, the latest in a string of measures aimed at imposing sector-specific levies that offer to reshape global supply chains. Trump said the order would have a “big impact” as he signed it on Tuesday (Feb 25) in the Oval…
Read MoreOCBC misses estimates with Q4 earnings of S$1.69 billion; unveils S$2.5 billion capital return plan
OCBC on Wednesday (Feb 26) posted a net profit of S$1.69 billion for the fourth quarter ended December, up 4 per cent from S$1.62 billion in the previous corresponding period. The earnings fell short of the S$1.78 billion consensus forecast in a Bloomberg survey of five analysts. OCBC on Wednesday announced plans to return S$2.5…
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