Posts by Liam Redmond
Direct impact of trade tariffs affects about 3% of OCBC’s loan book; portfolio remains ‘resilient’
[SINGAPORE] Current trade tariffs are expected to have a “first-order impact” on 3 per cent of OCBC’s loan book, group chief financial officer Goh Chin Yee said at the bank’s first-quarter earnings call on Friday (May 9). “We further stress-tested our portfolio for potential vulnerabilities and assessed that our portfolio remains resilient,” Goh said. OCBC’s…
Read MoreAsia: Stocks lifted by hopes for US-China talks after UK deal
[HONG KONG] Most Asian equities rose on Friday (May 9) on growing optimism that the worst of US President Donald Trump’s trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend. The mood among investors has improved substantially…
Read MoreNissan drops plan for Fukuoka battery plant to focus on recovery
The company is betting on a broad restructuring and new leadership team helmed by chief executive officer Ivan Espinosa, who took office in April and pledged to turn things around Published Fri, May 9, 2025 · 12:08 PM [TOKYO] Nissan Motor has abandoned plans to build a battery plant in Fukuoka, Japan to focus its…
Read MoreSEC seeks to settle legal fight with Ripple Labs for US$50 million
The SEC has dismissed or paused several other legal cases and investigations targeting crypto companies since US President Donald Trump took office and pledged to end crypto regulation by enforcement Published Fri, May 9, 2025 · 11:36 AM [WASHINGTON] The US Securities and Exchange Commission (SEC) moved to settle a long-running legal battle against Ripple…
Read MoreAG Letitia James heckled over mortgage fraud case at town hall: ‘Apologize to Donald Trump’
New York State Attorney General Letitia James was heckled by a Trump supporter at a community hearing where she claimed the freshly opened federal criminal probe into her alleged mortgage fraud is “baseless.” James was interrupted at a community impact hearing in Westchester on Thursday night, just hours after the Trump administration opened a formal…
Read MoreBain Capital to sell China data centre business likely valued at over US$4 billion: sources
[HONG KONG] US investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the business at over US$4 billion, two sources with knowledge of the situation said. Bain Capital has engaged with advisers who have held preliminary conversations with potential buyers…
Read MoreHow the Singapore dollar could perform against the US dollar this year
[SINGAPORE] The Singapore dollar and other Asian currencies are continuing to gain ground against the US dollar as the tariff fallout weighs on the greenback. The Singdollar opened the week firm at 1.29 to the US dollar – a level not seen since September 2024. In the year to date, that’s a jump of about…
Read MoreGold firms on dip buying; US-China trade talks in focus
Published Fri, May 9, 2025 · 10:01 AM [BENGALURU] Gold prices firmed on Friday (May 9), as investors bought bullion following a decline in the previous session, while markets looked ahead to US-China trade talks due this weekend. Spot gold rose 0.1 per cent to US$3,309.39 an ounce, as at 0024 GMT. US gold futures…
Read MoreF&N H1 net profit rises 0.3% to S$84.1 million as F&B sales grow
[SINGAPORE] Fraser and Neave (F&N) posted a 0.3 per cent rise in net profit to S$84.1 million for its first half ended Mar 31, from S$83.8 million a year earlier, the food and beverage (F&B) group said on Friday (May 9). Revenue for H1 rose 13.2 per cent to S$1.21 billion, from S$1.07 billion in…
Read MoreThe Celtics are relying on a gimmick, not a game plan
In this, the Age of No Good Reason, it made for twisted logic: The Celtics, last year’s champs, who recently sold for $6.1 billion, began their playoff round with the Knicks as heavy favorites. That’s how well and often they shoot 3s in a league that has sacrificed righteous basketball to emulate a video game…
Read MoreFrasers Property H1 profit rises 147.6% to S$142.2 million on one-off tax reversal
[SINGAPORE] Higher contributions from residential projects in Singapore, as well as a one-off reversal of tax provisions, pulled up Frasers Property’s first-half earnings – but the group said it will continue zeroing in on optimising capital efficiency. Speaking at an earnings briefing on Friday (May 9) morning, Frasers group chief executive Panote Sirivadhanabhakdi said: “The…
Read MoreUS sanctions on China refiners over Iran oil disrupt operations: sources
[SINGAPORE] Recent US sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington’s stepped-up pressure is inflicting on Tehran’s biggest oil buyer. The targeting of independent refiners, known as…
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