Posts by Liam Redmond
Asia banks stick with net-zero group that Wall Street abandoned
SEVERAL large Asian banks have joined their European peers in offering support to the industry’s biggest climate alliance, after a wave of exits by Wall Street and Canadian lenders. Singapore and Malaysia-based banks, including DBS Group Holdings, Oversea-Chinese Banking Corp, Malayan Banking and CIMB Group Holdings, say they remain committed to the Net-Zero Banking Alliance…
Read MoreKaroline Leavitt blasts ‘irresponsible’ Chuck Schumer for blaming Delta plane crash on Donald Trump — even though it was in Canada
White House Press Secretary Karoline Leavitt has blasted Sen. Chuck Schumer (D-NY) for suggesting President Trump was partly to blame for the Delta Air Lines jet that crash-landed and flipped over in Toronto, Canada. Leavitt ripped the Democratic lawmaker just hours after he appeared to link Monday’s disastrous Delta landing to the president’s recent cuts to…
Read MoreMusk’s X in talks to raise money at US$44 billion valuation, Bloomberg News reports
ELON Musk’s X social media platform is in talks to raise money from investors at a US$44 billion valuation, Bloomberg News reported on Wednesday (Feb 19), citing people familiar with the matter. Musk bought X, formerly Twitter, for the same price in 2022, but some investors including Fidelity Investments have sharply written down the value…
Read MoreWoman sues fertility clinic, saying she gave birth to another patient’s baby: ‘Never felt so violated’
Krystena Murray became pregnant after undergoing in vitro fertilization two years ago, and said she was unaware until she gave birth that the fertility clinic had made a fateful mistake. In December 2023, Murray delivered a healthy baby boy. But she also knew immediately that it didn’t develop from one of her own lab-fertilized eggs.…
Read MoreApple to launch new lower-cost iPhone to capture a broader market
APPLE is set to launch its latest budget iPhone model on Wednesday (Feb 19) as it looks to grab a bigger share of the mid-range smartphone market and fend off competition from rivals such Samsung and China’s Huawei. The fourth generation of the lower-cost model, so far known as iPhone SE, will take on popular…
Read MoreNovo seeks US$830 million from Singapore firm, accusing it of fraud over drug
Novo Nordisk is seeking as much as US$830 million in damages in a Singapore court, saying it was misled by a local biotech about the effectiveness of an experimental hypertension drug. KBP Biosciences and its founder led the Danish drugmaker to believe they had “developed a new and effective drug to treat hypertension and kidney…
Read MoreAll assets of biotech founder in Novo Nordisk suit frozen, including US$218 million in DBS account
The Danish drugmaker alleges misrepresentations by KBP Biosciences founder Huang Zhenhua about the success of its kidney drug PHARMA giant Novo Nordisk has been granted an injunction by the Singapore International Commercial Court to freeze the worldwide assets of KBP Biosciences founder Huang Zhenhua to the tune of US$830 million. The Danish drugmaker was led…
Read MoreThailand to curb short selling, high-speed trades amid sell-off
THAILAND’S stock exchange will tighten curbs on short selling and high-frequency trading as it attempts to revive investor confidence in the world’s worst performing equity market. Short selling and high-frequency trading will be limited to stocks forming the part of SET100 Index, Asadej Kongsiri, president of the Stock Exchange of Thailand, told a press…
Read MoreHow to fix NFL’s ugly annual race to the bottom
In its quest for something close to 12-month domination, suffocation and indoctrination, the NFL is missing out on a golden opportunity to further bully the television, streaming and social media markets. There is a sweet spot on the calendar the NFL should claim as its own, for the competitive betterment of the league, for yet…
Read MoreAnt Group enters China’s growing humanoid robot industry amid rising tech interest
ANT Group, the Alibaba-linked fintech giant, is venturing into the humanoid robot industry, joining a growing list of major Chinese tech companies exploring this emerging field. The company has opened positions related to humanoid robot systems and applications through its subsidiary, Shanghai Ant Lingbo Technology, which was established at the end of 2024 with registered…
Read MorePrime US Reit posts 51.6% fall in H2 DPU as manager continues to retain funds for capex
PRIME US Reit, which focuses on office buildings in the US, saw its distribution per unit (DPU) fall 51.6 per cent to 0.11 US cent for the six months ended Dec 31. This comes as its manager continues to retain funds to meet expenses. The Reit’s H2 distribution to unitholders is US$1.4 million, or about…
Read MoreSingapore shares end Wednesday higher on UOB results, Budget news; STI up 0.2%
The bank’s Q4 profit of of S$1.52 billion beat analysts’ consensus forecast S$1.48 billion SINGAPORE stocks closed higher on Wednesday (Feb 19), as investors digested company earnings reports and the country’s Budget 2025 announcements. The Straits Times Index (STI) rose 8.48 points or 0.2 per cent to 3,934.04, below the record 3,943.23 that the index…
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