Posts by Liam Redmond
Changi Airport Terminal 5 contracts worth S$4.75 billion awarded
[SINGAPORE] Changi Airport Group (CAG) announced on Monday (May 5) that contracts of around S$4.75 billion in value for substructure and airside infrastructure works at Changi Airport’s Terminal 5 (T5) were awarded to various construction companies. The substructure contract valued at S$3.8 billion was awarded as a joint venture (JV) between the Singapore branch of…
Read MoreFrasers Hospitality Trust H1 DPS falls 6% to S$0.010257 on higher finance costs
[SINGAPORE] Frasers Hospitality Trust on Tuesday (May 6) posted a 6 per cent drop in distribution per stapled security (DPS) to S$0.010257 for its first half year ended Mar 31, from S$0.01091 in the corresponding year-ago period. The decline was attributed to lower net property income (NPI) and higher finance costs arising from the refinancing…
Read MoreGoogle has launched new film and TV production wing: Business Insider
[BENGALURU] Google has launched a new film and TV production initiative to scout projects it could fund or co-produce, Business Insider reported, a move that could help it capitalise on an industry reeling from rising production costs and potential US tariffs. The initiative, called “100 Zeros”, is a multi-year partnership with Range Media Partners, a…
Read MoreEpic high school faceoff now bleeds into Jalen Brunson-Jayson Tatum NBA ‘alpha dog’ war
BOSTON — A decade later, Jalen Brunson is looking to beat Jayson Tatum. The stage is very different — the Eastern Conference semifinals instead of a nonconference high school showdown — but not all that much has changed between the two. Ten years ago, they were elite players, and that is still the case, the…
Read MoreJPMorgan says AI helped boost sales, add clients in market turmoil
[NEW YORK] JPMorgan Chase’s artificial intelligence (AI) tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April’s market rout, the bank’s CEO of asset and wealth management said. The largest US lender has been ramping up its use of AI, along with its peers. Goldman…
Read MoreHong Kong sells record amount of currency to defend exchange peg
The recent rally in currencies of trade-dependent Asian economies is fuelling concerns among central bank policymakers Published Tue, May 6, 2025 · 07:06 AM [MELBOURNE] Hong Kong authorities said they continued to purchase US dollars in an attempt to defend the foreign exchange peg. The Hong Kong Monetary Authority spent a record HK$60.5b on the…
Read MoreHong Kong ramps up FX intervention to defend currency peg
[MELBOURNE] Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (S$10.1 billion) of the city’s currency, according to an alert sent on its Bloomberg page on Tuesday (May 6) in Asia, after it tested the…
Read MoreUS dollar’s fall in Asia stuns investors, spreads across globe
[NEW YORK] The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets. Already under pressure as US President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on Monday (May…
Read MoreThugs charged with savage murder of Israeli businessman in his LA home are illegal immigrants — and one was released by a sanctuary city
The three men who allegedly murdered an Israeli businessman late last month in his Los Angeles home are all illegal immigrants from Georgia — one of whom was released after an earlier crime by a sanctuary city, sources told The Post. The three attackers allegedly broke into Alexander Modebadze’s Los Angeles home, where they held the…
Read MoreCredit Suisse to pay US$511 million as part of agreement with US DOJ in tax evasion case involving Singapore accounts
A CREDIT Suisse unit pleaded guilty to US charges of helping ultra-wealthy Americans evade taxes and will pay a fine of more than US$510 million, the US Department of Justice (DOJ) said on Monday (May 5). Credit Suisse Services pleaded guilty and was sentenced for conspiring to hide more than US$4 billion from the US…
Read MoreSkechers to go private for US$9.42 billion in biggest sneaker industry deal
[BENGALURU/NEW YORK] Skechers has agreed to be taken private by 3G Capital for US$9.42 billion in the footwear industry’s biggest buyout to date, exiting public markets after 26 years as the popular shoe brand grapples with the impact of steep US tariffs. Investment firm 3G Capital has offered US$63 per Skechers share in cash, the…
Read MoreOil ends at four-year lows as Opec+ accelerates output hikes
[NEW YORK] Oil fell by more than US$1 a barrel on Monday to settle at over four-year lows as an Opec+ decision to expedite its output hikes stoked fears about rising global supply at a time when the demand outlook is uncertain. Brent crude futures settled at US$60.23 a barrel, down US$1.06, or 1.7 per cent.…
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