Posts by Liam Redmond
China’s oil teapots rocked by tax rules that threaten closures
CHINA’S smaller, independent oil refineries are getting squeezed by a stricter tax regime, which could accelerate shutdowns in the embattled sector. The refiners, dubbed teapots, are in the crosshairs of the government’s drive to root out overcapacity. Local authorities, including in the industry’s hub of Shandong province, are targeting tax breaks on one of their…
Read MoreYangzijiang Shipbuilding dives 11% to S$2.66 after US proposed fees for Chinese-built ships
SHARES of maritime vessel maker Yangzijiang Shipbuilding fell on Tuesday (Feb 25) morning amid news of the Trump administration’s proposed imposition of fees for Chinese-built vessels entering US ports. At 9.35 am, the counter was down S$0.33 or 11 per cent at S$2.66, with 29.7 million securities changing hands. The last time it traded at…
Read MoreYangzijiang Shipbuilding dives further after US proposed fees for Chinese-built ships
SHARES of maritime vessel maker Yangzijiang Shipbuilding tumbled further on Tuesday (Feb 25) in early trade, after the US Trade Representative (USTR) office proposed to slap fees on Chinese-built vessels entering US ports. At 11.21 am, the counter was down 12.7 per cent or S$0.38 at S$2.61, with nearly 57 million shares switching hands. The last…
Read MoreIndonesian bond plan sparks fears over governance, monetisation
BANK Indonesia’s plan to buy bonds that will be issued by the government to fund its ambitious housing programme is raising more concerns over the nation’s debt governance. The plan for the central bank to effectively help fund the home-ownership scheme of President Prabowo Subianto is raising concerns over so-called debt monetisation and macroeconomic governance,…
Read MoreGoogle’s AI previews erode the internet, US edtech company says in lawsuit
ALPHABET’S Google internet search engine is eroding demand for original content and undermining publishers’ ability to compete with its artificial intelligence-generated overviews, a US educational technology company said in a lawsuit filed on Monday. Chegg, an online education company that offers textbook rentals, homework help, and tutoring, said in the lawsuit filed in Washington, D.C.,…
Read MoreGreat Eastern Q4 profit falls 14% to S$134.8 million
GREAT Eastern on Tuesday (Feb 25) reported a net profit of S$134.8 million for the fourth quarter ended Dec 31, down 14 per cent from S$157.2 million in the previous corresponding period. The insurance provider noted that the fourth quarter “saw several developments in the medical insurance business from both Singapore and Malaysia”. These developments…
Read MoreWhy Team Trump should beware its job-slashing triumphalism
The work the Department of Government Efficiency and the overall Trump administration are doing to cut federal fat, make the executive branch more accountable to taxpayers and drive out woke ideology is crucial and welcome. Leftist ideologues have parasitized and mushroomed the federal bureaucracy, using their position and power to advance poisonous politics on race…
Read MoreCitadel Securities plots jump into crypto trading after Trump’s embrace
KEN Griffin’s market-making giant Citadel Securities is looking to become a liquidity provider for cryptocurrencies, betting US President Donald Trump’s embrace of the industry will usher in a boom for the asset class. It’s a clear pivot from the firm’s previously cautious stance on crypto market-making. Citadel Securities has had a limited presence in crypto…
Read MoreIntel says new ASML machines are in production, with positive results
INTEL on Monday said that the first two cutting-edge lithography machines from ASML Holding are “in production” at its factories, with early data indicating they are more reliable than earlier models. At a conference in San Jose, California, Intel senior principal engineer Steve Carson said Intel has produced 30,000 wafers, the large discs of silicon…
Read MoreNeed a reason to smile? How about 35% off Crest 3D Whitestrips on Amazon
New York Post may be compensated and/or receive an affiliate commission if you click or buy through our links. Featured pricing is subject to change. Even if you’ve never used any teeth-whitening solutions, chances are someone you know and love — your mother, your brother, your roommate, your spouse, your neighbor or your mailman — has.…
Read MoreChevron reorganises business structure, reshuffles leadership
CHEVRON said on Monday it would reorganise some of its business structures and reshuffle the leadership team, the latest move by the US energy major to simplify its operations. The company has said it would lay off up to 20 per cent of its global workforce by the end of 2026, as it navigates cost…
Read MoreMy ‘drunk’ colleague embarrassed herself at a company party — now she’s blaming the drink I made
A Reddit user who embarrassed her “drunk” colleague was not wrong to do so, according to others on the social media platform. “AITA for not explicitly stating my punch [was] non-alcoholic?” asked Reddit user “deenskees” in a recent post about the drama on Reddit’s “Am I the A—hole” (AITA) subreddit. In the post, the 25-year-old woman…
Read More