Posts by Swedan Margen
Retailers rush to save US summer shopping season
[NEW YORK] US retailers including Walmart and several clothing brands are racing to secure China-made merchandise for the busy summer shopping season starting in late May after Washington and Beijing agreed to temporarily slash tariffs. The agreement on Monday to lower US tariffs on shipments from China to 30 per cent from 145 per cent for the…
Read MoreWalmart shoppers to face price hikes as Trump tariffs hit
WALMART, the world’s largest retailer, will have to start raising prices later this month due to the high cost of tariffs, executives said on Thursday, in a clear signal that US President Donald Trump’s trade war is filtering through to the American economy. As a bellwether of US consumer health, Walmart‘s explicit statement is also a…
Read MoreMicrosoft layoffs hit its Silicon Valley workforce
Microsoft is slashing its Silicon Valley workforce. The tech giant, which is based in Washington but also has Bay Area offices, is cutting 122 positions in Silicon Valley, according to a layoff notice sent to the California Employment Development Department this week. Microsoft cited a reorganization and restructuring within the company as the reason for…
Read MoreJapfa expected to delist on Jun 10 as court sanctions scheme of arrangement
Last day of trading of its shares will be on May 16; trading in the counter will be suspended from 9 am on May 19 [SINGAPORE] Agri-food company Japfa is expected to delist from the mainboard of the Singapore Exchange on Jun 10, after the court on Thursday (May 15) sanctioned the scheme of arrangement…
Read MoreLHN net profit for H1 rises 8.8% to S$14.1 million
[SINGAPORE] LHN’s net profit for the first half ended March 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year ago period. The real estate management services group’s revenue increased 29.4 per cent to S$70.6 million in H1, from S$54.5 million the year before. The increase was primarily attributed to revenue…
Read MoreOssia controlling shareholders offer S$0.16 a share to take it private
[SINGAPORE] The controlling shareholders of Ossia International – group executive chairman Goh Ching Wah, chief executive Goh Ching Huat, and non-executive director Goh Ching Lai – have made an unconditional offer on Thursday (May 15) to take the lifestyle products retailer and distributor private at S$0.16 a share. The joint offerors are brothers; and collectively,…
Read MoreNetLink NBN Trust’s net profit slips 6.9% to S$46.9 million for H2 FY2025
[SINGAPORE] Internet service provider NetLink NBN Trust posted a 6.9 per cent decrease in net profit to S$46.9 million for the second half ended Mar 31, 2025. NetLink’s earnings were impacted by higher depreciation and amortisation, lower income tax credit and higher finance costs, it said in a regulatory filing on Thursday (May 15). Revenue…
Read MoreNetLink NBN Trust’s net profit slips 6.9% to S$46.9 million for H2 FY25
[SINGAPORE] Internet service provider NetLink NBN Trust posted a 6.9 per cent decrease in net profit to S$46.9 million for the second half ended Mar 31, 2025. NetLink’s earnings were impacted by higher depreciation and amortisation, lower income tax credit and higher finance costs, it said in a regulatory filing on Thursday (May 15). Revenue…
Read MoreIEA predicts slower oil demand growth for the rest of 2025
[LONDON] The International Energy Agency (IEA) said on Thursday (May 15) that economic headwinds combined with record sales of electric vehicles will slow global oil demand growth for the remainder of 2025, as supply is set to jump from planned Opec+ output hikes. Lower oil prices stemming from trade tensions and rising output are impacting…
Read MoreSats to invest over S$250 million to upgrade operations, cargo handling infrastructure at Changi Airport
These strategic initiatives will also enhance operational reliability and safety, and optimise turnaround times [SINGAPORE] Catering and ground handling company Sats announced on Thursday (May 15) that it will invest over S$250 million to upgrade its ground operations and cargo handling infrastructure at Changi Airport. These strategic initiatives will enhance operational reliability and safety, optimise…
Read MoreSingtel’s new 5G+ Priority plans are key for its premium customer push
[SINGAPORE] Premium customers remain top of mind for Singtel with new 5G+ Priority plans. The new plans promising faster streaming speeds and priority access to the network were launched on Thursday (May 15). They offer customers four times faster speeds and ultra-low latency, which translates to smoother streaming speeds, ultra-responsive gaming and uninterrupted video…
Read MoreAlibaba misses revenue estimates as it fights for China e-commerce market dominance
[BENGALURU/SHANGHAI] Alibaba posted quarterly revenue that missed analysts’ estimates on Thursday (May 15), as the e-commerce group works on new strategies to keep consumers spending amid persistent economic weakness in China and uncertainty over the impact of tariffs. US-listed shares of the Chinese company fell nearly 7 per cent in early trading. They have risen…
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