Uber boosts buybacks by US$20 billion after upbeat forecast
[SAN FRANCISCO] Uber Technologies announced US$20 billion in new stock buybacks after sharing a better-than-expected third-quarter forecast and quarterly results, suggesting that growth at its core rideshare and delivery units still has room to pick up steam. Gross bookings – which include ride hails, delivery orders and driver and merchant earnings but not tips –…
Read MoreStraits Trading expects to swing to net loss for H1
But its overall financial position remains healthy with sufficient liquidity to meet its operational and financial commitments, says the group [SINGAPORE] The Straits Trading Company is expected to swing to a net loss for the first half of FY2025 ended June, the group with operations and financial interests in resources, property, and hospitality said in…
Read More‘New Keppel’ shows promise; M1 sale and green projects could stir more excitement
[SINGAPORE] Once the world’s largest offshore rig builder, Keppel is doubling down on efforts to transform into an asset manager – most recently with its plans to divest a S$14.4 billion portfolio of non-core assets. The move carries the promise of a more streamlined focus and resilient earnings growth. Further catalysts that investors can look…
Read MoreMcDonald’s global sales top estimates as affordable meal options boost demand
[CHICAGO] McDonald’s global comparable sales beat Wall Street expectations for second quarter, as affordable meal bundles and promotions drew in budget-conscious diners looking to stretch their US dollars amid persistent economic uncertainty. Strong demand in the US and international markets powered a 3.8 per cent rise in global same-store sales, above expectations of a 2.4…
Read MoreChinese streaming platform iQiyi to seeks US$300 million in Hong Kong listing: sources
Published Wed, Aug 6, 2025 · 07:08 PM [HONG KONG] IQiyi is seeking to raise US$300 million in a Hong Kong market debut this year, becoming the latest US-listed Chinese firm to tap investors closer to home. The Netflix-style streaming service owned by Baidu has begun discussions with global banks about a second listing in…
Read MoreYangzijiang Shipbuilding posts record earnings of 4.2 billion yuan for H1
[SINGAPORE] Yangzijiang Shipbuilding posted a record-high net profit of 4.2 billion yuan (S$752.6 million) for the six months ended Jun 30, 2025, marking a 36.7 per cent surge from 3.1 billion yuan for the same period a year earlier. This comes as an associated company has started to contribute meaningfully. In a regulatory filing on…
Read MoreVenture Corp posts 8.6% drop in H1 net profit to S$113 million
[SINGAPORE] Technology solutions provider Venture Corp posted an 8.6 per cent drop in net profit to about S$113 million for the six months ended Jun 30, down from S$123.7 million the year before. Revenue fell 8.8 per cent to S$1.3 billion, from S$1.4 billion previously, the mainboard-listed group said in a regulatory filing on Wednesday…
Read MoreDisney tops earnings forecasts with streaming gains, raises guidance
[LOS ANGELES] Walt Disney posted better-than-expected results for April through June and raised its full-year earnings guidance on Wednesday (Aug 6) as the company’s streaming television profits grew and US theme park visitors increased their spending. Adjusted earnings per share rose 16 per cent from a year earlier to US$1.61 for Disney’s fiscal third quarter. …
Read MoreSingapore stocks rise for third straight day amid mixed regional showing; STI up 0.5%
[SINGAPORE] Local stocks closed higher on Wednesday (Aug 6), marking a third consecutive day of gains despite a mixed regional market performance and Wall Street’s decline the previous day. The US market dip followed weak services data that compounded concerns over last week’s soft jobs report. The benchmark Straits Times Index (STI) rose 0.5 per…
Read MoreStocks Fall Worldwide Amid Tariff Concerns and U.S. Economic Slowdown
Global stock markets declined on Wednesday, as traders’ fears about the U.S. and global economy worsened. The Dow was down a tad, the S&P 500 dropped 0.5%, and the Nasdaq slipped by nearly 0.7%. In Asia, trading was mixed. Shares in Asia fell too, with Japan’s Nikkei dropping 0.2% and MSCI’s broadest index of Asia-Pacific…
Read MoreAir India taps Singapore Airlines to bolster fleet upkeep after crash: sources
[NEW DELHI] Air India plans to lean on shareholder Singapore Airlines (SIA) to move some aircraft maintenance services in-house instead of outsourcing them to a state-owned company, according to people familiar with the matter. The Indian airline is preparing to take on pre-flight and daily aircraft inspections, minor repair work and other troubleshooting activities from…
Read MoreJakarta’s land crackdown clouds outlook for Singapore-listed plantation firms
[SINGAPORE] Singapore-listed palm oil firms with Indonesian exposure are treading cautiously as Jakarta pushes ahead with a sweeping land seizure. The authorities have confiscated more than 2 million hectares (ha) of allegedly illegal forest concessions, raising concerns over the impact of the potential fallout on these companies’ operations. With reviews still ongoing, plantation groups, including…
Read More