Posts by Liam Redmond
Yen slides past 163 mark to fresh four-decade low against US dollar
Geopolitical risks, fiscal concerns and wide interest rate differentials continue to weigh on the Japanese currency Published Wed, Jul 22, 2026 · 07:14 AM [TOKYO] The yen weakened past 163 per US dollar for the first time since 1986, raising the risk of intervention by authorities to prop up the currency. Japan’s currency weakened to…
Read MoreOil prices rise to five-week high on US-Iran attacks, Houthi blockade threat
Published Wed, Jul 22, 2026 · 06:02 AM [NEW YORK] Oil prices climbed about 2 per cent on Tuesday (Jul 21) to a five-week high, on worries that energy supply disruptions could worsen in the Middle East due to more attacks between the US and Iran and a threatened naval blockade of Saudi Arabia by Yemen’s Houthis.…
Read MoreSony Music Entertainment files new lawsuit against AI startup Udio
Sony Music Entertainment on Monday filed a new lawsuit against AI startup Udio, alleging it infringed on more than 30,000 recordings. Sony said Udio ripped off music recordings from YouTube without Sony’s permission to train AI models. Users on Udio can type prompts describing the type of song they wish to create. Sony says Udio’s…
Read MoreIndia central bank proposes wider test for foreign control of firms
Published Tue, Jul 21, 2026 · 11:35 PM [MUMBAI] India’s central bank on Tuesday (Jul 21) proposed changes to foreign exchange management rules, broadening the conditions used to determine whether an Indian firm is controlled by foreign shareholders. The changes were part of draft rules that the Reserve Bank of India (RBI) said aim to…
Read MoreNg Khee Siong, managing director of Borneo Motors parent Inchcape Singapore, resigns
[SINGAPORE] Ng Khee Siong, the managing director of Inchcape Singapore and Borneo Motors, has resigned. The company has begun a search for his replacement. Inchcape did not provide further details on the resignation, which industry sources said was communicated internally on Tuesday (Jul 21). The Business Times has reached out to Ng for comment. A…
Read MoreWall St opens higher as chip stocks extend recovery; earnings in focus
Published Tue, Jul 21, 2026 · 09:51 PM [NEW YORK] Wall Street’s main indexes opened higher on Tuesday (Jul 21) as semiconductor shares extended a recovery from a recent selloff, while investors awaited major tech earnings for clues on the future of the AI trade. The Dow Jones Industrial Average rose 77.5 points, or 0.15…
Read MoreGM boosts profit outlook, cites ‘resilient’ consumer demand
Strong profit in its home market of North America, which is also its biggest, was driven by solid pricing Published Tue, Jul 21, 2026 · 09:47 PM [DETROIT] General Motors lifted its full-year earnings outlook on Tuesday (Jul 21) for the second time after reporting a 30 per cent increase in second-quarter core profit on…
Read More3M lifts annual profit forecast as industrial unit remains resilient
Published Tue, Jul 21, 2026 · 08:40 PM [BENGALURU] 3M lifted its full-year profit forecast on Tuesday (Jul 21) on the back of cost-control measures, price hikes and continuing strength in its safety & industrial business. The industrial giant said it expects higher pricing to “fully offset” a hit to its profit from oil-led inflation…
Read MoreUS dollar steady as investors weigh Middle East jitters against softer inflation data
Lack of clarity on where the US-Iran conflict is headed has left the dollar in limbo Published Tue, Jul 21, 2026 · 08:14 PM [BENGALURU/HONG KONG] The US dollar held steady on Tuesday (Jul 21) as markets balanced signs of escalating tensions in the Middle East against lingering optimism from softer inflation data last week.…
Read MoreMoneyMax expects significant H1 profit growth amid strong pawnbroking performance
Group also points to support from its retail and trading of gold and luxury items segment [SINGAPORE] MoneyMax Financial Services on Tuesday (Jul 21) said that it expects to record a “significant improvement” in net profit for its first half of the year, due to the stronger financial performance of its pawnbroking segment. This was…
Read MoreHPH Trust’s H1 earnings jump to US$62.6 million
[SINGAPORE] Hutchison Port Holdings Trust (HPH Trust) posted an 85 per cent surge in net profit to HK$490.5 million (US$62.6 million) for its first half ended Jun 30, from HK$265.1 million in the previous corresponding period. The trust also declared a distribution per unit (DPU) of HK$0.05 a unit for the half-year, unchanged from the…
Read MoreSpaceX, Sea and Grab to debut as SGX’s first US SDRs
[SINGAPORE] Singapore depository receipts (SDRs) of three US-listed companies – Grab, Sea and SpaceX – will begin trading on the Singapore Exchange (SGX) when the market opens on Wednesday (Jul 22). The new additions mark the first US-listed SDRs trading on SGX. Including them, the bourse now offers 38 SDRs across four markets – namely…
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