US: Wall St opens higher as Americans head to polls
US STOCK indexes opened higher on Tuesday (Nov 5), as voting began in a tightly contested presidential election, with traders girding up for volatile trading over the next few sessions…
Section
Fashion
Ferrari’s core profit rises 7%, helped by product mix, personal touches
FERRARI said on Tuesday (Nov 5) its core earnings rose 7 per cent in the third quarter, despite a slight decrease in car shipments, as the luxury sports car maker continued to benefit from…
Burger King parent Restaurant Brands misses sales estimates on muted demand
RESTAURANT Brands missed estimates for quarterly revenue on Tuesday (Nov 5) due to weak demand across key businesses such as Tim Hortons, Burger King and international markets including…
Thomson Reuters reports higher third quarter revenue
THOMSON Reuters on Tuesday (Nov 5) reported higher than expected third-quarter revenue as it continued to invest in generative AI. The Toronto-based content and technology company reported…
German parts maker Schaeffler to cut 4,700 jobs on auto woes
Schaeffler will cut about 4,700 jobs in Europe and close two sites as a deepening slump at Volkswagen and other German carmakers ripples through their supply chains. About 2,800 of the job…
China stocks end at 4-week high as Premier expresses confidence in economic recovery
MAINLAND China stocks closed at a four-week high on Tuesday (Nov 5), after Chinese Premier Li Qiang expressed confidence in the country’s economic recovery, while recent data showed signs…
Tyre maker Michelin to close two French plants by 2026
MICHELIN will close two factories in France by early 2026 affecting about 1,200 jobs, the French tyre maker said on Tuesday (Nov 5), the latest cutback in an European auto industry…
Brokers’ take: Analysts get more bearish on Wilmar, cutting their price targets for the stock
ANALYSTS cut their price targets for Wilmar International on uncertainty in its China business, and after the company reported third-quarter earnings that showed net profit fell. The…
Audi Group profit slumps on China weakness, plant restructuring
VOLKSWAGEN’S Audi-led premium brands barely eked out an operating profit in the third quarter after waning luxury spending in China and a plant restructuring in Brussels dragged on…
China gives Morgan Stanley approval to launch local futures unit
MORGAN Stanley has won final approval to launch a futures business in China via a newly established unit, becoming the second major US entrant in the derivatives market of the world’s…
Yen is first of many Japanese assets set to pivot on US election
A VICTORY for Kamala Harris in the US presidential election has the potential to support Japan’s ailing currency while a win for Donald Trump would probably boost the Tokyo stock market…
Stamford Tyres chairman Sam Chong Keen steps down amid board reshuffle
Wife of founder becomes executive chairman, ex-SPH veteran Christopher Tan joins board SAM Chong Keen, chairman of the board of Stamford Tyres has stepped down, with two individuals…
Sun Life profit beats expectation on strength in Canada, US
SUN Life reported a better-than-expected third-quarter profit on Monday (Nov 4) as Canada’s second-largest life insurer benefited from robust growth in its domestic and US businesses. The…
Cautious Asian markets inch higher ahead of high-stakes US election
ASIAN markets edged up slightly on Tuesday (Nov 5) as investors trod cautiously amid heightened volatility in anticipation of the US presidential election. Market sentiment was likely…
Commerzbank looks to free up capital to fend off UniCredit
COMMERZBANK chief executive officer Bettina Orlopp is seeking to unlock more capital to pay out or invest, as she makes the case for an independent bank in the face of a potential takeover…
Recent US economic data points to a concerned Fed opening the door to series of rate cuts
BAD news is good news again. And the worse tidings that US Federal Reserve chairman Jerome Powell can bring about for US economic prospects, the bigger the welcome his message will receive…
Apple to offer extra Indonesia investment to remove iPhone ban
APPLE has proposed investing almost US$10 million to make additional goods in Indonesia, according to sources familiar with the matter, as it seeks to have the country’s ban on sales of…
Stocks to watch: SIA, CapitaLand Investment, NetLink NBN Trust, Aims Apac Reit, Dyna-Mac
THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 5): Singapore Airlines (SIA), SIA Engineering Company (SIAEC): Singapore’s national…
Crypto firms including Robinhood, Kraken launch global stablecoin network
A CONSORTIUM of financial technology and cryptocurrency companies including Robinhood, Kraken and Galaxy Digital on Monday (Nov 4) introduced a joint stablecoin pegged to the US dollar.…
Uber proposes cut to New York City driver base pay on lower gas prices
UBER Technologies is proposing a cut to New York City drivers’ base pay rate, among other recommendations, as it seeks to lower prices of rides in one of its largest markets. The company…
Marriott trims 2024 profit forecast on sluggish China domestic travel demand
MARRIOTT International cut its annual profit forecast on Monday (Nov 4) as weak domestic travel in China overshadows strong group and international demand, sending its shares down 3.4 per…
New York Times tops estimates as digital subscribers grow
NEW York Times reported third-quarter earnings that beat analysts’ expectations, as the company saw an increase in its subscriber count in the months leading up to the 2024 Presidential…
US CEOs fired more quickly over low stock prices this year, report says
US COMPANIES with lagging stock prices are now quicker to blame management and fire their top executive, but the process of finding a replacement has remained largely unchanged for the…
US dollar drops to two-week low as investors take profit on ‘Trump trades’
THE US dollar dipped on Monday (Nov 4) as investors braced for wide-ranging implications for the global economy this week from the outcome of US elections and a likely interest rate cut…