ServiceNow sales growth fails to impress AI-hungry investors
SERVICENOW reported strong third-quarter sales and bookings, but failed to clear the lofty expectations of investors looking for a bigger boost from artificial intelligence (AI).…
Swedan Margen
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Whirlpool reaffirms forecast despite pre-election sales slump
WHIRLPOOL, the owner of Maytag, rose in late trading on Wednesday (Oct 23) after reporting better than expected earnings, and reaffirming its full-year sales forecast. The results show…
IBM posts soft revenue growth as consulting woes continue
INTERNATIONAL Business Machines (IBM) reported underwhelming sales as the company grapples with a slowdown in consulting demand. Sales increased 1 per cent to US$15 billion, slightly…
Mike Ashley’s Frasers pulls bid for handbag maker Mulberry
BILLIONAIRE Mike Ashley’s Frasers Group is walking away from an attempted takeover of Mulberry Group but is still pushing for a board seat at the British handbag maker. Frasers said…
Ennoconn Corp garners 63.77% of NeraTel shares at offer close
This comes after Ennoconn had in September agreed to buy 53.38% of the mainboard-listed company A MANDATORY unconditional cash offer by Taiwan-listed Ennoconn Corporation for Nera…
US: Wall St dips at the open as yields rise, earnings weigh
Wall Street’s main indexes opened lower on Wednesday (Oct 23), pressured by rising Treasury yields and as investors focused on earnings from companies including Coca-Cola, Boeing and…
OUE Reit Q3 net property income drops 3.7% to S$60.3 million
OUE Real Estate Investment Trust (Reit) reported a 3.7 per cent dip in net property income in the third quarter to S$60.3 million, from S$62.7 million in the year-ago period. The slight…
To keep deepfakes from infiltrating its site, Yahoo News enlists help from McAfee
The 2024 U.S. presidential campaign has featured some notable deepfakes — AI-powered impersonations of candidates that sought to mislead voters or demean the candidates being targeted.…
TSMC cuts off client after discovering chips diverted to Huawei
TAIWAN Semiconductor Manufacturing Co (TSMC) discovered this month that chips it made for a specific customer ended up with Huawei Technologies, a potential violation of US sanctions…
Boeing CEO presses turnaround at embattled planemaker as contract vote looms
BOEING CEO Kelly Ortberg laid out a turnaround plan on Wednesday (Oct 23), including a push for a “fundamental culture change,” as the struggling planemaker grapples with a crippling…
Boeing CEO presses turnaround as loss balloons to US$6 billion
BOEING CEO Kelly Ortberg laid out a turnaround plan on Wednesday (Oct 23), calling for a “fundamental culture change” at the struggling planemaker as its quarterly losses surged to US$6…
Singapore court orders trader to pay investor S$4.7 million after forex trade goes south
THE Singapore High Court has on Wednesday (Oct 23) ordered forex trader Leong Kai Rui to return S$4.7 million to investor Oan Chim Seng for breaching an investment agreement. Additionally,…
Stamford Tyres founder Wee Kok Wah dies at 78
He helmed the company for more than 50 years, growing it from a family-run business to a multinational firm operating in 11 countries STAMFORD Tyres founder Wee Kok Wah, the man behind one…
Hengrui Pharmaceuticals is said to weigh second listing in Hong Kong
JIANGSU Hengrui Pharmaceuticals is considering a second listing in Hong Kong that could happen as soon as next year, according to people familiar with the situation. The company is in…
ADIA to invest US$750 million in debt of India’s GMR Group
ABU Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, will invest about US$750 million in the debt of India’s GMR Group, giving it a foothold in one of the…
Vietnam plans capital injection into Vietcombank to support policy goals
VIETNAM is planning to inject 20.695 trillion (S$1.1 billion) of capital into state-owned commercial lender Vietcombank, the country’s biggest bank, to boost its capacity to support…
Heineken third-quarter beer volumes hit by weak Americas
HEINEKEN reported worse-than-expected beer volumes due to declines in the Americas and Asia-Pacific as consumers failed to ramp up spending. The Dutch brewer said on Wednesday (Oct 23)…
Hyundai testing novel hydrogen production as part of green push
HYUNDAI Motor’s plant in Georgia has been running its internal logistics operations using hydrogen and the South Korean automaker has been testing domestic production of the fuel using…
Ascott China forms JV with Jin Jiang Hotels to grow apartment hotel brands in China
THE China business segment of Ascott has entered into a joint venture (JV) with Jin Jiang Hotels to expand their respective apartment hotel brands in China. Ascott China will hold a 50 per…
SIA to codeshare more flights with Air India for enhanced travel options
They will add 11 Indian cities and 40 international destinations to their codeshare network SINGAPORE Airlines (SIA) and Air India will expand their codesharing partnership to offer…
Keppel Infrastructure Trust’s 9-month distributable income falls 60.1%
KEPPEL Infrastructure Trust (KIT) saw its distributable income year on year tumble 60.1 per cent to S$106.1 million for the first nine months of 2024 from S$266.1 million. The fall in…
Australia’s Qantas hits record high as Jefferies lifts price target
SHARES of Qantas Airways hit an all-time high on Wednesday (Oct 23) after Jefferies analysts hiked their price target on Australia’s flag carrier, on the back of low fuel costs and…
Changi Airport’s Q3 passenger movements up 10% on strong North Asia traffic
CHANGI Airport had 16.8 million passengers passing through its terminals in the third quarter of 2024, up 10 per cent from the year before. The figure was 97.4 per cent of passengers that…
Global uncertainties push safe-haven gold to record high
GOLD prices surged to a record high on Wednesday (Oct 23) as the conflicts in the Middle East and uncertainty surrounding the upcoming US election spurred demand for safe-haven assets.…