Posts by Swedan Margen
Gold rises as fresh Trump tariff threats dampen trade talk hopes
[BENGALURU] Gold edged higher on Wednesday (Jul 9) as US President Donald Trump’s latest tariff threats dampened hopes for trade talks, but a stronger US dollar and higher Treasury yields capped gains. Spot gold rose 0.2 per cent to US$3,305.50 per ounce as at 0106 GMT. US gold futures fell 0.1 per cent to US$3,314.50.…
Read MoreBank of America loses crisis-era backer after Kuwait sells US$3 billion stake
[NEW YORK] First, it was Warren Buffett. Now, another key Bank of America (BOA) investor that stood by it since the worst days of the 2008 financial crisis is chopping down its stake. Kuwait Investment Authority (KIA), the trillion US dollar sovereign fund of the oil-rich Gulf state, sold a US$3.1 billion stake in the…
Read MoreChina’s gig economy booms as blistering heat leaves workers exposed
[BEIJING] On a scorching morning in Beijing, Hao and a dozen other food delivery drivers sweltered outside a hot-pot restaurant. They smoked. They swiped through videos. They waited for the next round of lunch orders from people wise enough to stay indoors. Hao, like most of China’s 200 million gig workers, is eligible by law…
Read MoreHong Leong Asia unit imposes equity incentive plan of 1.8 million shares at US$0.10 apiece
Its aim is to create opportunities for directors and employees of CYI and its subsidiaries to participate in its equity [SINGAPORE] Hong Leong Asia on Tuesday (Jul 9) announced that its subsidiary China Yuchai International (CYI) will be implementing an equity incentive plan totalling 1.8 million shares of US$0.10 each in the capital of CYI.…
Read MoreHong Leong Asia unit China Yuchai International introduces share options to incentivise staff
Its aim is to create opportunities for directors and employees of CYI and its subsidiaries to participate in its equity [SINGAPORE] Hong Leong Asia on Tuesday (Jul 9) announced that its subsidiary China Yuchai International (CYI) will be implementing an equity incentive plan totalling 1.8 million shares of US$0.10 each in the capital of CYI.…
Read MoreHong Leong Asia unit introduces share options to incentivise staff
Aim is to create opportunities for directors and employees of China Yuchai International, and its subsidiaries, to participate in its equity [SINGAPORE] Hong Leong Asia on Tuesday (Jul 8) announced that its subsidiary, China Yuchai International (CYI), will be implementing an equity incentive plan totalling 1.8 million shares of US$0.10 each in the capital of…
Read MoreMeta invests US$3.5 billion in world’s largest eyewear maker in AI glasses push
[SAN FRANCISCO] Meta Platforms bought a minority stake in the world’s largest eyewear maker EssilorLuxottica, a deal that increases the US tech giant’s financial commitment to the fast-growing smart glasses industry, according to sources familiar with the matter. Facebook parent Meta acquired just under 3 per cent of Ray-Ban maker EssilorLuxottica, a stake worth around…
Read MoreUS used car prices surge as tariffs drive market volatility
A GAUGE of US used vehicle prices sold at wholesale auctions that proved predictive ahead of the inflation surge following the Covid-19 pandemic is climbing again, last month notching its largest annual increase in nearly three years. The rise comes amid ongoing vehicle price and sales volatility connected to auto tariffs imposed by President Donald…
Read MoreStocks to watch: OCBC, Great Eastern, Mapletree Industrial Trust, IReit Global
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 9): OCBC; Great Eastern: Insurer Great Eastern will resume trading after a vote for it to be delisted fell through at its extraordinary general meeting on Tuesday. A conditional exit offer made by OCBC to take the insurer…
Read MoreHSBC expands UK wealth bet in race to £100 billion asset goal
[LONDON] HSBC Holdings is ramping up growth plans for its UK wealth-management operations as Europe’s largest bank seeks to double the assets it oversees for well-heeled individuals in its home nation. The London-based lender is undertaking a recruitment drive for bankers to cater to affluent, high-income and super-rich individuals, according to a statement and interview…
Read MoreStarbucks draws interest for controlling stake in China unit
[HONG KONG] Starbucks has received proposals from prospective investors in its China business, most of whom are eyeing a controlling stake in the operation, said sources familiar with the matter. The Seattle-based company is now in the process of sifting through proposals and shortlisting a group of potential investors for a next round of bidding,…
Read MoreIntel cuts over 500 jobs in Oregon as part of layoff plan
Hillsboro, a suburb of Portland, is home to some of Intel’s biggest factories and research centres Published Wed, Jul 9, 2025 · 07:15 AM [SAN FRANCISCO] Intel is cutting more than 500 positions in Oregon as part of a layoff plan that’s ultimately expected to affect roughly 20 per cent of the chipmaker’s staff. The…
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