Posts by Liam Redmond
Gold’s record run creates new rulebooks for investors
Its soaring run comes as investors bet heavily on US rate cuts and concern grows about the greenback’s role as the world’s top reserve currency [LONDON] Investors are testing well-established views about gold, which is surging to new records, as an artificial-intelligence-driven stocks rally and red-hot Bitcoin force a rethink of what is driving one…
Read MoreDigital euro could drain up to 700 billion euros of deposits in bank run, ECB says
The ECB has presented the digital currency as an alternative to US-dominated means of payment [FRANKFURT] A digital euro could drain up to 700 billion euros (S$1.1 billion) in deposits during a run on commercial banks, pushing around a dozen eurozone lenders into a liquidity squeeze, a European Central Bank simulation showed on Friday (Oct…
Read MoreSingapore shares close lower in tandem with Wall Street retreat; STI slides 0.3%
Across the broader market in the city-state, decliners beat gainers 371 to 250 as 1.8 billion securities valued at S$1.4 billion are traded [SINGAPORE] Singapore shares closed lower on Friday (Oct 10), after three major Wall Street indexes retreated overnight. Blue-chip barometer Straits Times Index (STI) dipped 0.3 per cent or 13.44 points to 4,427.06,…
Read MoreWhy BYD faces a raft of troubles
Since authorities earlier this year stepped up scrutiny of the bruising price war in China that helped fuel the group’s rise, its sales momentum has stalled BYD has spent the last five years racing ahead. In 2024, with the help of government support, aggressive pricing and overseas expansion, the Chinese carmaker surpassed Tesla to become…
Read MoreGiants show they actually have some depth at wide receiver
The Giants entered Thursday night’s game against the Eagles shorthanded at receiver, with Darius Slayton out with a hamstring injury suffered on Sunday and No. 1 Malik Nabers already out with a torn ACL. The way the Giants operated, though, you would have never known it. Lil’Jordan Humphrey, a journeyman receiver who was called up…
Read MoreComfortDelGro’s quiet tech play and why it’s not sweating GrabCab
Grab says it won’t poach rival drivers, but its entry may intensify Singapore’s tight market [SINGAPORE] Within just a decade, Grab has gone full circle from an entrant challenging incumbent taxi companies to becoming one itself. In July, three months after getting a street-hail license in Singapore, it launched its own taxi service GrabCab. With…
Read More‘The talent is there’: Is Singapore’s push for board diversity turning a corner?
Progress has been made, but questions remain over whether inclusion is now structural or still symbolic [SINGAPORE] With women occupying barely a quarter of board positions in the largest Singapore-listed firms, Carol Fong is among the few female directors who have made it to the top. The 64-year-old independent non-executive director at City Developments Ltd…
Read MoreAI jobs shock is coming and firms aren’t ready: Klarna CEO
The CEO sees the AI boom spelling the end to what he calls “excess profits” in both the banking and software industries [LONDON] From technology firms to translators, the world has not faced up to the consequences of artificial intelligence wiping out swathes of jobs, according to one of AI’s biggest cheerleaders in finance. “I…
Read MoreOrsted axes quarter of jobs, pivots to Europe after US setbacks under Trump
[COPENHAGEN] Orsted, the world’s biggest offshore wind farm developer, will cut about 2,000 jobs by the end of 2027, a quarter of its workforce, and will focus more on Europe after setbacks in the US. Orsted expanded rapidly over the past decade, but more recently has faced higher costs from supply chain disruption and inflation,…
Read MoreGiants survive another Jaxson Dart injury scare after Russell Wilson’s brief appearance
It’s the worst sight possible for the Giants – Jaxson Dart on the ground in pain. But it appears they avoided the worst – again. The rookie quarterback stayed down on his back after trying to scramble late in the third quarter of the Giants’ “Thursday Night Football” clash against the Eagles. New York Giants’…
Read MoreGold poised for eighth weekly rise on firm safe-haven demand
The non-yielding asset, traditionally considered a hedge during geopolitical and economic uncertainty, has gained about 52% this year [BENGALURU] Gold edged higher on Friday (Oct 10) and headed for its eighth straight weekly gain, as lingering geopolitical and economic uncertainty alongside expectations for interest rate cuts from the US Federal Reserve boosted demand for bullion.…
Read MoreMTA worker punched trying to break up platform fight near scene of earlier Brooklyn “samurai sword” slaying
A Metropolitan Transit Agency worker was punched in the face after stepping in to break up a subway argument Thursday — just steps from where a sword-wielding wacko murdered an innocent man the week before, cops said. MTA track worker Michael Grosso, 59, was on duty a little after midnight, working on the southbound A/C…
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