Posts by Liam Redmond
Australia’s Star Entertainment gets potential lifeline as Oaktree offers debt refinancing
Oaktree’s offer is subject to numerous conditions and there is no certainty it will progress Star says STAR Entertainment Group received a potential lifeline from alternative asset manager Oaktree Capital Management, which offered to refinance A$650 million (S$554 million) of the struggling Australian casino operator’s debt. Star has been racing to raise capital after last…
Read MoreAustralian unit of ComfortDelGro probes media allegations of wrongful conduct
A2B Australia, a subsidiary of the transport operator, has engaged external legal counsel AN Australian unit of ComfortDelGro is investigating allegations of wrongful conduct made by several media companies, and it has engaged external legal counsel to advise on the matter. In a bourse filing on Monday (Feb 17), ComfortDelGro said The Sydney Morning Herald…
Read MoreHSBC investors back CEO’s investment banking retrenchment
INVESTORS in HSBC are backing management attempts to shutter parts of its investment bank, even as US President Donald Trump’s deregulatory agenda fuels hopes for a boom in capital markets activity. Four shareholders, including two of the 20 largest, said last month’s decision to axe HSBC’s mergers and equity capital markets teams in the Americas…
Read MoreSingapore shares open higher on Monday; STI up 0.3%
SINGAPORE equities began Monday (Feb 17) in positive territory, following mixed performance in the US and Europe last Friday. As at 9.01 am, the Straits Times Index (STI) rose 12.16 points or 0.3 per cent to 3,889.66. Across the broader market, gainers outnumbered losers 72 to 38 after 35.6 million securities worth S$33.4 million changed…
Read MoreBlake Lively and Ryan Reynolds walk red carpet at ‘SNL’ 50th anniversary as Justin Baldoni drama swirls
Blake Lively and Ryan Reynolds are red-y and returning. The Hollywood couple stepped out on the “SNL” 50th anniversary special red carpet on Sunday. It marked their first red carpet appearance since beginning a legal war with Lively’s “It Ends With Us” director and co-star, Justin Baldoni. Lively, 37, sued Baldoni, 41, accusing him of…
Read MoreSingPost appoints former execs of SGX and SIA Engineering as non-executive, independent directors
This comes months after the firing of three senior management executives over their negligence in handling internal investigations related to a whistleblower’s report SINGAPORE Post (SingPost) on Monday (Feb 17) announced the appointment of two new non-executive, independent directors, Chng Lay Chew and Ng Chin Hwee. Ng formerly served as chief executive officer and executive…
Read MoreApplied Materials falls as export controls weigh on outlook
APPLIED Materials, the largest US maker of chip-manufacturing equipment, fell after issuing a lukewarm revenue forecast for the current period, citing the risk of export controls crimping its business. Sales will be about US$7.1 billion in the fiscal second quarter, which runs to April, the company said on Thursday (Feb 13). That compares with an…
Read MoreNYC’s ‘historic’ Chinese lunar new year parade lights up streets
The special Chinese year of the wood snake is about transformation and change — and those celebrating it in Manhattan’s Chinatown on Sunday said even the downpour couldn’t dampen their hopes for it. “It’s a new year. A new starting point. New energy. A new beginning. Every year you get a chance for a new…
Read MoreXi-Jack Ma chat seen as next catalyst for blistering China rally
A POTENTIAL encounter this week between President Xi Jinping and e-commerce icon Jack Ma, coming after a blistering run by tech shares, could be the next catalyst to extend the rally in China’s stocks. Prominent entrepreneurs including Ma have been invited to meet the nation’s top leaders, sources familiar with the matter said last week.…
Read MoreUS election observer charged with felony after refusing to wear mask during Nov. presidential count
A Washington election observer has been charged with a felony after refusing to wear a mask during the November presidential vote count. Timothy Hazelo, a Republican from Oak Harbor, was charged last week with unauthorized access to a voting center over a dispute that started when he refused to don a mask while monitoring ballot-counters.…
Read MoreBank of Japan nearing end of bank stock sales shifts focus to ETF assets
THE Bank of Japan (BOJ) is on course to finish offloading millions of US dollars of stocks that it bought from beleaguered banks during the financial crisis two decades ago sooner than scheduled, a development that throws into focus the fate of its considerably larger holdings of exchange-traded funds (ETFs). The book value of share…
Read MoreWestpac posts higher quarterly profit as loan volumes grow, late repayments decline
AUSTRALIA’S Westpac posted a rise in its first-quarter net profit on Monday as deposits and loan volumes grew, and said a widely awaited interest rate cut by the central bank should help households and businesses grappling with cost-of-living pressures. Australia’s No. 2 mortgage lender posted an unaudited net profit of A$1.7 billion (S$1.44 billion) for…
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