Posts by Liam Redmond
Yangzijiang Shipbuilding dives 11% to S$2.66 after US proposed fees for Chinese-built ships
SHARES of maritime vessel maker Yangzijiang Shipbuilding fell on Tuesday (Feb 25) morning amid news of the Trump administration’s proposed imposition of fees for Chinese-built vessels entering US ports. At 9.35 am, the counter was down S$0.33 or 11 per cent at S$2.66, with 29.7 million securities changing hands. The last time it traded at…
Read MoreIndonesian bond plan sparks fears over governance, monetisation
BANK Indonesia’s plan to buy bonds that will be issued by the government to fund its ambitious housing programme is raising more concerns over the nation’s debt governance. The plan for the central bank to effectively help fund the home-ownership scheme of President Prabowo Subianto is raising concerns over so-called debt monetisation and macroeconomic governance,…
Read MoreBroncos coach accused of punching police officer in face as wild arrest details emerge
Wild new details have emerged about the arrest of Broncos linebacker coach Michael Wilhoite. Wilhoite is accused of hitting a police officer in the face with a left hook before being tased and driving away from the drop-off lane at Denver International Airport on Sunday, according to court documents obtained by The Denver Post. The…
Read MoreBank of Korea signals more rate cuts as Trump’s tariffs take shape
BANK of Korea (BOK) governor Rhee Chang-yong signalled more policy easing to come this year as the central bank cut its benchmark interest rate to support an economy jolted by political turmoil and threatened by Donald Trump’s tariff plans. In a press conference on Tuesday (Feb 25) after the board unanimously decided on a quarter-percentage…
Read MoreGoogle’s AI previews erode the internet, US edtech company says in lawsuit
ALPHABET’S Google internet search engine is eroding demand for original content and undermining publishers’ ability to compete with its artificial intelligence-generated overviews, a US educational technology company said in a lawsuit filed on Monday. Chegg, an online education company that offers textbook rentals, homework help, and tutoring, said in the lawsuit filed in Washington, D.C.,…
Read MoreGreat Eastern Q4 profit falls 14% to S$134.8 million, reflecting medical insurance provisions
GREAT Eastern on Tuesday (Feb 25) pointed to provisions made for its medical insurance business as the primary reason its net profit fell 14 per cent to S$134.8 million for the fourth quarter ended Dec 31, from S$157.2 million in the previous corresponding period. “In terms of profitability, it was only (our) medical (insurance business)…
Read MoreGreat Eastern Q4 profit falls 14% to S$134.8 million
GREAT Eastern on Tuesday (Feb 25) reported a net profit of S$134.8 million for the fourth quarter ended Dec 31, down 14 per cent from S$157.2 million in the previous corresponding period. The insurance provider noted that the fourth quarter “saw several developments in the medical insurance business from both Singapore and Malaysia”. These developments…
Read MoreStocks to watch: Great Eastern, FCT, Yangzijiang Financial, PropNex, EC World Reit
THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 25). Great Eastern: The insurance provider on Tuesday reported a net profit of S$134.8 million for the fourth quarter ended Dec 31, down 14 per cent from S$157.2 million in the previous corresponding period. Total weighted new sales in…
Read MoreBrookfield makes US$1.7 billion bet on power needs by AI, data
BROOKFIELD Asset Management agreed to spend US$1.7 billion in a deal to expand its US onshore renewables business as the company bets there will be increasing demand for electricity from data centres and artificial intelligence (AI). The transaction with the UK’s National Grid indicates investors are still confident in robust power consumption growth from technology…
Read MoreZoom issues dour revenue forecasts as demand slows
ZOOM Communications forecast revenue for the full year and the first quarter below Wall Street estimates on Monday as the company navigates an environment where employers are gradually moving away from hybrid work models. The company’s shares were down 2 per cent to US$79.40 in extended trading. Zoom had seen rapid growth in users and…
Read MoreShameless dog-nappers fake a seizure to steal puppies from Colorado pet store: video
Off to the doghouse they go! A pair of thieves made off with two English bulldog puppies at a Colorado pet store after one of them created a distraction by faking a seizure in a wild caught-on-video heist. Security footage from inside the store, Perfect Pets in Centennial, shows the dog nappers lingering near the…
Read MoreAustralian regulator pushes market operator ASX on fee transparency, competition
AUSTRALIA’S corporate regulator said on Tuesday the country’s stock market operator would be required to publish a comparison of clearing and settlement fees against foreign providers and justify any fee increases, in a bid to promote competition. The Australian Securities and Investments Commission (ASIC) said ASX, responsible for some A$5 billion (S$4.3 billion) of trades…
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