South Korea says Samsung, SK Hynix will not be subject to 100% US chip tariffs
Published Thu, Aug 7, 2025 · 10:42 AM [SEOUL] South Korea’s top trade envoy Yeo Han-koo said on Thursday that Samsung Electronics and SK Hynix will not be subject to 100 per cent US tariffs on chips. Yeo said on radio that among various countries, South Korea will face the most favourable US tariff rates…
Read MoreLyft shares slide on weak sales, disappointing ride totals
[NEW YORK] Lyft shares slid in late on Wednesday (Aug 6) trading after the ride-hailing company reported revenue that fell short of Wall Street’s expectations, stoking concerns about its efforts to expand globally. The company reported revenue of US$1.59 billion in the three months ended Jun 30, slightly missing analysts’ expectations of US$1.61 billion. And…
Read MoreManulife buys Comvest to build US$18.4 billion private credit unit
[TORONTO] Manulife Financial agreed to buy a majority stake in Comvest Credit Partners, creating a US$18.4 billion private credit platform as the insurer accelerates its expansion into alternative investments. The company will acquire 75 per cent of the middle-market lender for about US$938 million, according to a statement on Wednesday (Aug 6). The deal includes…
Read MoreUOB shares fall over 2% following lower Q2 net profit of S$1.34 billion reported
[SINGAPORE] Shares of UOB fell by more than 2 per cent on Thursday (Aug 7), on the back of the local bank’s second-quarter results, which saw a 6 per cent year-on-year decline in its net profit of S$1.34 billion for the three months ended June 2025, from S$1.43 billion in the same year-ago period. This…
Read MoreGold inches higher as US dollar weakens on Fed rate cut hopes
[BENGALURU] Gold prices edged higher on Thursday (Aug 7), helped by a weaker US dollar on growing expectations of a Federal Reserve rate cut next month, while investors awaited US President Donald Trump’s nominations to the central bank’s Board of Governors. Spot gold added 0.1 per cent at US$3,372.97 per ounce as at 8.57 am.…
Read MoreDBS shares hit all-time record after higher Q2 profit, nearing the S$50 mark
[SINGAPORE] Shares of DBS soared to a record in early trade after the group posted marginally improved Q2 earnings before market open, nearing the S$50 mark. At 9.03 am it hit S$49.69, with around 615,300 shares changing hands. This was 1.7 per cent or S$0.84 higher than its S$48.85 closing price on Wednesday. By 9.19…
Read MoreCSE Global Q2 new orders rise 3.8% to S$211.3 million
[SINGAPORE] Systems integrator CSE Global has secured S$211.3 million worth of new orders for its second quarter ended June, a 3.8 per cent rise from S$203.7 million in Q2 2024. This brought its ending order book for Q2 and H1 to S$573.8 million, 17.1 per cent down from S$692.3 million in the year-ago period, the…
Read MorePrivate credit fuels a ‘buy now, pay later’ lending boom in Asia
[HONG KONG] Maria Hazel Regalado, a 48-year-old mother of four in the Philippines, needed a computer last year so she could work from home. Regalado, who helps manage rental properties in Australia, did not have the cash or a credit card. A friend suggested she get a “buy now, pay later” (BNPL) loan from Billease,…
Read MoreYangzijiang Shipbuilding soars 11% after posting record high net profit
It had posted a record-high net profit of 4.2 billion yuan (S$752.6 million), up 36.7% from the first half of 2024 [SINGAPORE] Shares of Yangzijiang Shipbuilding surged more than 11 per cent minutes after market open on Thursday (Aug 7) on the back of a record-high net profit in the first half of 2025. The…
Read MoreYangzijiang Shipbuilding soars over 10% after posting record high net profit
It had posted a record-high net profit of 4.2 billion yuan (S$752.6 million), up 36.7% from the first half of 2024 [SINGAPORE] Shares of Yangzijiang Shipbuilding surged 10.3 per cent minutes after market open on Thursday (Aug 7) on the back of a record-high net profit in the first half of 2025. The counter jumped…
Read MoreBeyond Meat misses quarterly revenue estimates as plant-based demand weakens
Published Thu, Aug 7, 2025 · 09:04 AM BEYOND Meat missed Wall Street estimates for second-quarter revenue on Wednesday, hurt by weak demand for its plant-based meat products in the US amid ongoing macroeconomic uncertainty. Shares of the company, which also announced a 6 per cent reduction in its global workforce, fell about 4 per…
Read MoreApple says Samsung will supply chips from Texas factory
Published Thu, Aug 7, 2025 · 08:37 AM APPLE said on Wednesday that Samsung Electronics will supply chips from its production plant in Texas for Apple products including iPhones. “This facility will supply chips that optimise power and performance of Apple products, including iPhone devices,” Apple said in a statement. A Samsung spokesperson declined comment.…
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