Posts by Swedan Margen
First half net profit plunges 22% at French luxury group LVMH
[PARIS] French luxury group LVMH saw net profit plummet 22 per cent in the first half of 2025, the company announced on Thursday, blaming the plunge on an “unsettled economic and geopolitical” backdrop. Though sales fell four per cent to just under 40 billion euros (S$60 billion), chairman and CEO Bernard Arnault insisted that LVMH “is demonstrating its resilience…
Read MoreTrump, Fed chief Powell bicker during tense central bank visit
[WASHINGTON] Donald Trump and US Federal Reserve chairman Jerome Powell appeared together for a tense meeting on Thursday as the president toured the central bank after ramping up his attacks on its management of the economy. Trump – who wants to oust Powell for refusing to lower interest rates but likely lacks the legal authority…
Read MoreOil pares gains on possible US approval for Chevron to renew Venezuelan operations
[HOUSTON] Oil pared gains on Thursday afternoon following a Reuters report that US President Donald Trump’s administration may allow Chevron to resume operations in Venezuela. Brent crude futures were up 26 cents, or 0.38 per cent, to US$68.77 a barrel by 1.14 pm CDT (1814 GMT). US West Texas Intermediate crude futures rose 44 cents, or 0.67…
Read MoreEurope: Shares close higher after ECB leaves rates unchanged
EUROPEAN stocks closed higher on Thursday after the European Central Bank held interest rates steady as expected, while investors cheered strong earnings from major banks and easing trade tensions with the United States. The pan-European Stoxx 600 index finished the session 0.24 per cent higher at 551.55, having earlier touched a six-week high. Stocks pulled back from their peaks…
Read MoreUS: S&P 500, Nasdaq hit new records despite big Tesla drop
[NEW YORK] The S&P 500 and Nasdaq edged up to fresh records on Thursday while the Dow retreated following a mixed round of corporate earnings that lifted Google parent Alphabet but battered Tesla. The tech-rich Nasdaq Composite Index led major indices, finishing 0.2 per cent higher at 21,057.96, a new record. The broad-based S&P 500…
Read MoreGIC posts 3.8% 20-year annualised real rate of return; expects returns ahead will be more volatile
[SINGAPORE] Sovereign wealth fund GIC reported an annualised rolling 20-year real rate of return of 3.8 per cent for its latest period ended Mar 31, 2025. This rate of return – which accounts for inflation and spans the 20-year period from April 2005 to March 2025 – is down 0.1 percentage point from the 3.9…
Read MoreGIC to expand AI use after initial trials to review deals yield positive results
[SINGAPORE] Artificial intelligence (AI) will have a foundational impact on the world, and offers unparalleled opportunities for investments and operations, said GIC chief executive Lim Chow Kiat. As a result, the Singapore sovereign wealth fund is looking to leverage the technology not just through investments, but also by adopting it in the company, he noted,…
Read More‘Pressing need’ for investments in energy infrastructure: GIC
[SINGAPORE] Sovereign wealth fund GIC sees a “pressing need” for investments in grid infrastructure and power equipment supply chains, as it bets on opportunities in the electrification of the economy. GIC is “constructive” on regulated electric networks and utilities, as investing in their asset base can provide additional earnings growth, the fund said in its…
Read MoreHulk Hogan: WWE Legend and His Wife Sky Daily Were Baptized Just 18 Months Before His Sudden Death after Suffering Cardiac Arrest
Hulk Hogan was baptized just a year and a half before his sudden death, footage from social media shows. “Total surrender and dedication to Jesus is the greatest day of my life. No worries, no hate, no judgment… only love!” the WWE legend wrote in an X post in December 2023. Video from the baptism…
Read MoreHulk Hogan: WWE Legend’s 911 Dispatch Audio Released after He Suffered Cardiac Arrest at His Florida Home and Died [LISTEN]
![Hulk Hogan: WWE Legend’s 911 Dispatch Audio Released after He Suffered Cardiac Arrest at His Florida Home and Died [LISTEN]](https://i1.wp.com/data.ibtimes.sg/en/full/68994/hulk-hogan.jpg?w=1024&resize=1024,1024&ssl=1 "Hulk Hogan: WWE Legend’s 911 Dispatch Audio Released after He Suffered Cardiac Arrest at His Florida Home and Died [LISTEN]")
Audio of the 911 call related to Hulk Hogan’s death was released on Thursday, confirming that the emergency was reported as a “cardiac arrest.” In the brief clip, obtained by TMZ, a dispatcher is heard sending medical personnel to the wrestling legend’s home in Clearwater, Florida, where he was later carried out on a stretcher…
Read MoreAsian Markets Rise on Trade Optimism and Strong US Earnings
Markets across Asia rose on Thursday as optimism from Wall Street and the promise of more U.S. trade deals fueled trading. The MSCI Asia-Pacific index (excluding Japan) climbed 0.4%, to its peak since the year before. Japan’s Nikkei 225 continued its surge, moving within a hair’s breadth of its all-time high as Singapore’s STI and…
Read More39-Year-Old Man Taken into Custody for Alleged Housebreaking and Theft in Singapore
A 39-year-old man was arrested for his suspected involvement in two cases of housebreaking and theft. The Singapore Police Force (SPF) said on Wednesday, July 23, that they were informed about a case of housebreaking and theft at a food court along Choa Chu Kang Street 51 where cash amounting to S$2,542 was reportedly stolen.…
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