US: Wall St opens higher after jobless claims data, Nvidia results
Wall Street’s main stock indexes opened higher on Thursday (Nov 21) after data reflected a robust labour market, and AI-heavyweight Nvidia advanced after reporting upbeat quarterly results and forecast. The Dow Jones Industrial Average rose 130.2 points, or 0.30 per cent, at the open to 43,538.7. The S&P 500 rose 23.5 points, or 0.40 per…
Read MoreFord to cut 4,000 European jobs amid economic and EV challenges
Ford Motor Co. will reduce its European workforce by 4,000 employees by the end of 2027, citing economic pressures, weaker-than-expected electric vehicle (EV) sales, and growing competition in the EV market, AAP reported. The restructuring will primarily affect jobs in Germany and the United Kingdom, with a smaller impact across other European Union countries. The…
Read MorePolice in Finland arrest five suspects over separatist violence in southeast Nigeria
HELSINKI, Finland (AP) — Police in Finland said Thursday they had detained five suspects in connection with deadly violence in southeastern Nigeria and were seeking a court extension of the detensions. The police did not identify the suspects, only saying that a dual Finnish-Nigerian citizen, born in the 1980s, was under criminal investigation. However, Simon…
Read MoreBRC Asia H2 profit rises 11% to S$55 million on sale of associate
STEEL solutions provider BRC Asia posted an 11 per cent rise in net profit to S$55 million for its second half ended Sep 30, 2024, from S$49.5 million in the same period a year earlier. Earnings per share stood at 20.05 Singapore cents for the half-year period, up from 18.05 cents the previous year. Revenue…
Read MoreWealth hubs go on charm offensive to lure UK super-rich
THE Jumeirah hotel in London’s Knightsbridge has rooms at more than £6,000 (S$10,185) a night, with marble bathrooms, private dining rooms and panoramic views. It showcases some of the best of what London has to offer the world’s super-rich, but another city was the focus for well-heeled investors at a recent invite-only event: Abu Dhabi.…
Read MoreThaiBev’s FY2024 net profit dips 1% to 27.2 billion baht
THAI Beverage (ThaiBev) posted a net profit of 27.2 billion baht (S$1.1 billion) for its full year ended Sep 30, a marginal 1 per cent drop from 27.4 billion baht a year ago. The beverage manufacturer on Thursday (Nov 21) said that its net profit was weighed down by a decrease in earnings from the…
Read MoreTranscript: Republican Senator’s Surprise Takedown of Trump Shames GOP
Nichols: Many of them will fail that test. They may finally link arms on at least Gaetz, which I think isn’t going to happen. Gaetz is not going to become attorney general, but I could be wrong. I suspect Gabbard isn’t going to make it. [It’s] interesting that the right-wing New York Post today said,…
Read MoreChina’s Trustar raises US$1 billion for vehicle that holds McDonald’s China stake: sources
TRUSTAR Capital has raised US$1 billion for a continuation fund that will hold the Chinese private equity firm’s controlling stake in McDonald Corp’s operations in mainland China and Hong Kong, two sources with knowledge of the matter said. A continuation fund is a new vehicle created by a private equity (PE) firm to transfer holdings…
Read MoreKey witness is Germany’s ‘cum-ex’ tax fraud scandal goes on trial
The accused lawyer Kai-Uwe Steck (L) sits next to his lawyer Gerhard Strate in the courtroom. A criminal trial against one of the key figures in Germany’s biggest tax scandal, the illegal cum-ex share transactions, has begun at the Bonn Regional Court. Thomas Banneyer/dpa A criminal trial against one of the key figures in Germany’s…
Read MoreLum Chang proposes listing interior fit-out business on Singapore Catalist
CONSTRUCTION company Lum Chang is mulling over plans to spin off its interior fit-out business in a listing on the Singapore Exchange’s Catalist board. Lum Chang Interior (LCI) is a majority-owned indirect subsidiary of the company. Lum Chang’s current aggregate effective shareholding in LCI is 80 per cent, through its wholly owned subsidiary Lum Chang…
Read MoreTemu-owner PDD reports 44% rise in Q3 revenue; misses market estimates
CHINA’S PDD Holdings reported a 44 per cent rise in third-quarter revenue on Thursday (Nov 21), but still fell short of market estimates. Revenue reached 99.35 billion yuan (S$18.4 billion) for the three months ended Sep 30. That compared with the 102.65 billion yuan average of 17 analyst estimates compiled by LSEG. REUTERS Share with…
Read MoreTSH Resources Q3 profit rises 12% to RM33.1 million
PLANTATION company TSH Resources reported on Thursday (Nov 21) a 12 per cent increase in net profit for the third quarter, despite a rise in crude oil prices. Net profit for the three months ended Sep 30 rose to RM33.1 million from RM29.5 million in the year-ago period, the company said in a bourse filing.…
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