Posts by Liam Redmond
Golden Agri’s H2 profit soars 1,617.1% to US$262.1 million
PALM oil producer Golden Agri-Resources’ net profit for its second half ended Dec 31 surged to US$262.1 million from US$15.3 million in H2 FY2023, on the back of higher crude palm oil (CPO) prices and sales volumes. A turnaround on foreign exchange to a positive US$84.6 million from a net loss of US$24 million also…
Read MoreQantas splurges on dividends as strong travel demand boosts profit, shares jump
AUSTRALIA’S flag carrier Qantas Airways on Thursday declared a special dividend for the first time in more than two decades and reported first-half profit ahead of estimates, helped by strong travel demand sending its shares over 5 per cent. The company announced a special dividend of 9.9 Australian cents per share, its first since fiscal…
Read MoreSalesforce gives tepid outlook while touting AI progress
SALESFORCE gave a fiscal-year revenue forecast that fell short of estimates, dimming optimism that the company’s new artificial intelligence (AI) product would spur faster sales growth. Revenue will be US$40.5 billion to US$40.9 billion in the year ending January 2026, the San Francisco-based company said on Wednesday (Feb 26). Analysts, on average, estimated US$41.5 billion,…
Read MoreGoldman Sachs exec John Waldron gets board seat — a move likely making him bank’s next CEO
Goldman Sachs added its president and chief operating officer John Waldron to its board of directors a month after he was given a retention bonus, cementing his position as a potential successor to CEO David Solomon. Waldron, 55, joins Solomon, 63, as the second member of the management committee to have a seat on the board. “It does appear that firmer succession planning…
Read MoreChina quant says funds must adopt AI to survive after DeepSeek
DEEPSEEK’S success is intensifying pressure on China’s quantitative hedge funds to embrace artificial intelligence (AI) or risk becoming obsolete, according to one of the most aggressive users of AI in the industry. “In three years, quants that do not use AI will inevitably be eliminated,” said Feng Ji, chief executive officer of Baiont Quant,…
Read MoreRams willing to trade Matthew Stafford to the Giants? | Blue Rush
Ryan Dunleavy discusses the Giants’ interest in Matthew Stafford and whether the Rams have any motivation to deal the 37-year-old signal-caller to Big Blue with Paul Schwartz and Brandon London. Full episode of Blue Rush: https://trib.al/sPE1VtP Source link
Read MoreeBay forecasts quarterly revenue below expectations on weak demand
E-COMMERCE firm eBay forecast first-quarter revenue below Wall Street estimates on Wednesday, signaling weak demand for products such as collector’s items and refurbished goods, sending its shares down 7 per cent in extended trading. High interest rates and persistent inflation have hampered US consumer spending for two years, leading to sluggish demand for non-essential items…
Read MoreNvidia’s solid earnings report falls short of blowout level
NVIDIA, the chipmaker at the centre of an artificial intelligence (AI) spending boom, gave solid quarterly results and a bullish revenue forecast for the current period, even if the numbers did not reach the blowout level that some investors were banking on. Sales will be about US$43 billion in the fiscal first quarter, which runs…
Read MoreTrump axes Chevron‘s Venezuela oil license, citing lack of electoral reforms
US PRESIDENT Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns. In a post on Truth Social, Trump said he was “reversing the concessions” of…
Read MoreAlphabet’s Google cuts employees in cloud division
The cloud layoffs come as the tech industry’s culling of its corporate workforces has become all but standard in a new year ALPHABET’S Google on Wednesday (Feb 26) cut staffers in its cloud division, according to sources familiar with the matter. Bloomberg could not determine how many workers have been affected. The round of cuts…
Read MoreNvidia revenue jumps 78%, gives bullish forecast despite DeepSeek AI fears
Nvidia forecast first-quarter revenue above market estimates on Wednesday, expecting robust demand for its leading AI chips to persist as businesses spend heavily to expand generative artificial intelligence infrastructure. Its shares rose about 1% in choppy extended trading, after closing up 3.7% in regular trading. Nvidia is the biggest beneficiary of a rally in AI-linked stocks, with its shares up more than…
Read MoreEven as MAS plans an SGX revival, privatisations still take place
Five privatisations have been announced so far this year, including Cuscaden Peak’s offer for Paragon Reit EVEN with moves to revitalise the Singapore stock market and analysts hopeful that there could be as many as 10 listings on the bourse, the slew of privatisation offers seen in 2024 – and the couple that have been…
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