Roblox tumbles as Hindenburg bets against gaming platform
ROBLOX shares slumped on Tuesday (Oct 8) after short seller Hindenburg Research said it’s betting against the gaming platform. The stock fell as much as 9.4 per cent in intraday trading on…
Section
Fashion
Telcos should face tougher regulations to ensure service standards amid Smart Nation push
SINCE the government announced in February 2024 that it would invest up to S$100 million to upgrade Singapore’s Nationwide Broadband Network to run on speeds up to 10 gigabits per second…
TikTok sued by 13 US states and DC, accused of harming younger users
TIKTOK faces new lawsuits filed by 13 US states and the District of Columbia on Tuesday (Oct 8), accusing the popular social media platform of harming and failing to protect young people.…
GLP Capital Partners sells ex-China assets to Ares for up to US$5.2 billion
FUND manager GLP Capital Partners (GCP) has agreed to sell its operations outside China to US-based alternative investment group Ares Management, in a deal worth up to US$5.2 billion.…
PepsiCo trims sales forecast as customers tighten purse strings on snacks, sodas
PepsiCo cut its forecast for annual sales growth on Tuesday (Oct 8) as picky consumers in North America limit their spending on sodas and savoury snacks, while opting for cheaper…
China’s BYD wants to build cars in India, but has no ‘direct’ signal of investment rules easing
CHINA’S BYD wants to make cars in India but has received no “direct” signal from New Delhi on a possible easing of stringent investment rules for Chinese businesses, a top executive said,…
Online retailer Shein’s 2023 sales hit £1.55 billion in UK
SHEIN’S British business made £1.55 billion (S$2.6 billion) in revenue in 2023, up sharply from its previously reported results, a filing by the online fast-fashion group showed on Tuesday…
Don’t abandon us on China, Cognac lobby urges French government
NEW Chinese duties on European brandy imports would have “catastrophic” consequences for one of France’s top export sectors, the BNIC lobby group of Cognac producers said on Tuesday (Oct…
Singapore stocks fall amid regional declines on Tuesday; STI down 0.7%
SINGAPORE stocks tracked regional declines on Tuesday (Oct 8), reversing Monday’s gains. The benchmark Straits Times Index (STI) lost 0.7 per cent or 23.5 points to 3,575.69. Across the…
Hong Kong stocks plunge more than 9%, biggest fall in 16 years
Hong Kong’s Hang Seng Index dived 9.41%, or 2,172.99 points, to 20,926.79. Hong Kong stocks plunged more than nine per cent on Tuesday (Oct 8), their biggest fall in 16 years, after China…
Saudi fund trims Nintendo stake after saying it wants more
Its ownership in the company falls to 7.54% from 8.58%, a filing to Japan’s finance ministry shows SAUDI Arabia’s sovereign wealth fund has disclosed that it sold down its stake in…
Battery maker LG Energy profit declines as global EV sales slump
THE global slowdown in electric vehicle (EV) sales has hit LG Energy Solution, with the Korean battery maker’s third-quarter profit falling almost 40 per cent. Operating profit for three…
Gold flat as markets await Fed minutes
GOLD prices were flat in early Asian hours on Tuesday (Oct 8) as market participants awaited minutes of the US Federal Reserve’s last meeting and more economic data for further clarity on…
Australia central bank discussed future cases for raising, lowering rates
AUSTRALIA’S central bank discussed scenarios in which the cash rate may need to be raised or cut in the future at the September policy meeting, having left interest rates steady at 4.35…
Banks tap Hong Kong’s discount window for most funds since 2019
HONG Kong banks borrowed the largest amount of short-term cash in almost five years from authorities, a move pointing to a sudden demand for liquidity. The Hong Kong Monetary Authority –…
Samsung results disappoint as AI chip gap with rivals persists
SAMSUNG Electronics posted profit and revenue that fell short of market expectations, stoking uncertainty about the outlook of its pivotal chip division. The world’s biggest maker of…
Samsung apologises for disappointing profit as it struggles in AI chips
SAMSUNG Electronics estimated on Tuesday (Oct 8) that its third-quarter operating profit jumped nearly four-fold but missed analysts’ estimates, prompting a rare apology from the tech…
Saudi Arabia’s PIF to take 40% share in Selfridges stores
SAUDI Arabia’s Public Investment Fund (PIF) is set to become a minority partner in department store chain Selfridges after buying out the position of the now-insolvent Signa Group. The PIF…
Google Cloud, research units collaborate to speed AI development
GOOGLE said it has seen faster progress in artificial intelligence (AI) as a result of closer collaboration between its cloud computing unit and its AI research lab. Google Cloud struck…
FTX clear to repay customers as firms seek slice of US$1 billion
CRYPTOCURRENCY firm FTX won court approval to fully repay customers whose digital assets were locked on the platform when it imploded nearly two years ago, an unusual result that could net…
Singtel must show results from NCS, Optus divisions to drive further share price growth: analysts
They are also looking for potential expansion that emanates from big ticket deals, such as the data centre agreements announced earlier this year TELCO giant Singtel’s share price has…
Singtel must show results from NCS, Optus divisions to help fuel share price uptrend
Analysts are also looking for potential expansion from big ticket deals, such as the data centre agreements announced earlier this year TELCO giant Singtel’s share price has risen…
Goldman Sachs sees high bar for IPOs easing as market broadens
THE spreading of the rally across equity markets into more than just a handful of stocks is making room for more initial public offerings, according to Goldman Sachs Group’s global head of…
Supreme Court turns down challenge of California labor lawsuits by Uber, Lyft
WASHINGTON — The Supreme Court refused Monday to hear appeals from ride-hailing companies Uber and Lyft, which were asking to block California state labor lawsuits that seek back pay for…