US: Wall St subdued at open as investors weigh earnings, data
US stock indexes were subdued at the open on Wednesday (Oct 30), as investors assessed mixed earnings reports and data that showed the economy maintained a solid pace of growth in the…
Swedan Margen
I focus on highlighting the latest in business and entrepreneurship. I enjoy bringing fresh perspectives to the table and sharing stories that inspire growth and innovation.
BYD Q3 revenue rises 24% year on year to 201.1 billion yuan, eclipses Tesla for first time
BYD notched up another win over Tesla on Wednesday (Oct 30), reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head to head in global…
BYD revenue beats Tesla for first time; Q3 sales surge 24% to 201 billion yuan
BYD notched up another win over Tesla on Wednesday (Oct 30), reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head to head in global…
Tencent-backed Airwallex seeks funding at US$6 billion value
FINTECH company Airwallex is in talks with investors to raise about US$200 million in a new funding round to finance its growth, according to people familiar with the matter. The Tencent…
Karaoke operator Goodwill Entertainment aims to hit the right notes in Catalist IPO, raise S$6.5 million in net proceeds
Shares in initial public offering priced at S$0.20 apiece; founder seeks growth in F&B, Malaysia KARAOKE and live show operator Goodwill Entertainment is looking to raise S$6.5 million in…
Has Nintendo found a better way to wake up?
No one has ever applauded me for getting out of bed before. But for the last week and a half a tiny, cheery red machine has been rewarding me with a fanfare when I decide to rise. Its…
Aston Martin posts smaller-than-expected quarterly loss
BRITISH luxury carmaker Aston Martin reported a smaller-than-expected third-quarter loss on Wednesday (Oct 30) and reaffirmed its annual forecast, saying supply disruptions that had caused…
Malaysian ringgit set for biggest monthly decline since 2015
MALAYSIA’S currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election. The ringgit is down more than 6 per…
Australian lender ANZ launches structural overhaul amid regulatory woes
ANZ Group has unveiled an organisational overhaul, with an aim to streamline operations and enhance data analytics, the Australian lender said on Wednesday (Oct 30) as it sought to address…
UBS posts bigger-than-expected net profit in third quarter
UBS Group on Wednesday (Oct 30) reported a forecast-beating quarterly net profit of US$1.4 billion helped by cost reductions and revenue growth as the bank carried out its first wave of…
StanChart boosts return plan to US$8 billion as profit beats
STANDARD Chartered vowed to return at least US$8 billion to investors by 2026 as it reported better-than-estimated third-quarter earnings on its wealth business and markets trading. The…
Crypto exchange Gemini gets MAS’ in-principle nod for major payment institution licence
AMERICAN cryptocurrency exchange Gemini has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution licence. This licence will allow…
Visa, Coinbase offer real-time crypto purchases via debit cards
VISA customers with eligible debit cards will be able to deposit funds into their Coinbase Global accounts – sometimes instantly – via a partnership announced by the payments giant and…
Luckin Coffee, Haidilao and other China chains may be suffering indigestion from regional expansion
WITH competition at home squeezing profits, a growing number of Chinese restaurateurs are looking overseas for fresh opportunities. But there are many challenges on the road to success…
Hot stock: Hongkong Land rises 12.3% after unveiling new business strategy
It will pivot towards fund management and focus on ultra-premium integrated commercial properties in Asia’s gateway cities SHARES of Hongkong Land gained some ground on Wednesday (Oct 30)…
Hong Kong family office partners with top China fund to target the rich
ONE of Hong Kong’s biggest property agencies is ramping up its family office business by partnering with China’s No 2 mutual fund to push wealth management products amid a real estate…
CapitaLand China Trust’s 9M net property income down 5.1% to 930.2 million yuan
CAPITALAND China Trust (CLCT) posted a net property income of 930.2 million yuan (S$172.6 million) for the nine months ended Sep 30, down 5.1 per cent from 980.1 million yuan in the…
CapitaLand Ascott Trust’s Q3 gross profit rises 8%
CAPITALAND Ascott Trust’s (Clas) gross profit rose 8 per cent year on year in the third fiscal quarter ended September. On Wednesday (Oct 30), the lodging trust’s managers attributed the…
Circle raises fees despite rising stablecoin market competition
FOR the second time in less than a year, Circle Internet Financial has increased the fees it charges to cash out holdings of its USDC stablecoin. Redemption of USDC via the Circle Mint…
OpenAI builds first chip with Broadcom and TSMC, scales back foundry ambition
OPENAI is working with Broadcom and Taiwan Semiconductor Manufacturing Company (TSMC) to build its first in-house chip designed to support its artificial intelligence (AI) systems while…
Visa profit beats expectation on resilient consumer spending
VISA’S fourth-quarter profit beat Wall Street expectations on Tuesday (Oct 29), as consumers set aside worries of a slowing economy and swiped their cards to splurge on travel and dining…
SGX launches Hong Kong SDRs to allow portfolio diversification, exposure to mega-cap listcos
INVESTORS in Singapore can now gain direct exposure to five mega-cap companies listed in Hong Kong and tap into more opportunities to diversify their portfolios through new Singapore…
SGX starts trading in BYD, Alibaba, Tencent, HSBC and BOC via depository receipts
INVESTORS in Singapore can now gain direct exposure to five mega-cap companies listed in Hong Kong and tap into more opportunities to diversify their portfolios through new Singapore…
Companies must consider FX exposure risks when tapping South-east Asia’s rapid growth
FOR any company, the Asean economic bloc represents a business opportunity that cannot be ignored. The 10 countries that make up the Association of Southeast Asian Nations have a combined…