Posts by Liam Redmond
Trump tariffs target loophole used by Chinese online retailers
President Donald Trump’s new trade levies against China, Canada and Mexico include a broadside against e-commerce, with apparent plans to extinguish a long-held tariff exemption for packages worth less than US$800. Trump’s executive orders directing 25 per cent levies on Canada and Mexico – plus a 10 per cent duty on China – specify that…
Read MoreEuro set for deeper decline as market sees more ECB cuts
Traders are ramping up bets for a deeper divergence between European and US interest rates, setting the euro on a clear path for further weakness. The currency fell to its lowest in nearly two weeks as soft inflation readings from Germany and France strengthened the argument that the European Central Bank (ECB) will continue monetary…
Read MoreTariffs worry Wall Street over earnings hit, inflation pressure
Investors are bracing for a looming hit to US corporate profits and pressure on inflation after President Donald Trump on Saturday (Feb 1) signed an executive order imposing tariffs on its largest trading partners, with markets seen as not having fully factored in risks from higher levies on foreign imports. The president’s executive order imposes…
Read MoreSingapore-based office S-Reits report stronger operational performance
ACCORDING to data from JLL, leasing activities in quality office developments in Singapore improved in the fourth quarter of 2024. Rental and capital values are expected to stay stable in the first half of 2025, and recover in the latter half of the year. CBRE predicts a modest rise in Core Central Business District Grade…
Read MoreBonds gain in January as Trump’s return drives topsy-turvy month
FOR all the trepidation coursing through the bond market at the start of 2025, Treasuries are up on the month as traders remain on watch for how Donald Trump’s tariff and immigration policies will develop. After a rollercoaster stretch, the Bloomberg US Treasury index is up about 0.6 per cent this month through Thursday (Jan…
Read MoreAstraZeneca cancels UK plant after subsidies cut
BRITISH pharmaceutical giant AstraZeneca said on Friday (Jan 31) that it was abandoning plans to build a £450 million (S$756.9 million) vaccine plant, a major blow to the Labour government’s plans to revive a sluggish economy. “Following protracted discussions with the government, we are no longer pursuing our planned investment” for Speke in Liverpool, north-west…
Read MoreOpenAI releases cheaper model o3-mini in wake of DeepSeek
OpenAI rolled out a new, lightweight artificial intelligence (AI) model that it said is capable of human-like reasoning and makes gains on efficiency – a product that will be closely watched following the release of an open-source model from China’s DeepSeek. The model, released on Friday (Jan 31), is called o3-mini and will be free to use. The company first announced plans…
Read MoreFu Yu will not convene requisitioned EGM; investigates business unit
THE board of directors of Fu Yu Corporation on Friday (Jan 31) announced that the company will not convene an extraordinary general meeting (EGM) requisitioned by Victor Lim, its largest shareholder. In a bourse filing, the precision plastic components manufacturer said that it had obtained legal advice stating that the requisition did not meet the…
Read MoreUS: Wall St opens higher on gains in Apple, in-line inflation reading
WALL Street’s main indexes opened higher on Friday (Jan 31) on gains in Apple following its strong sales forecast, with an in-line reading for the Federal Reserve’s favoured inflation gauge keeping expectations about its interest-rate path unaffected. The Dow Jones Industrial Average rose 172.2 points, or 0.38 per cent, at the open to 45054.36. …
Read MoreVeteran bankers Eric Tham and Tan Jeh Wuan to join board of Raffles Medical’s insurance unit
VETERAN bankers Eric Tham and Tan Jeh Wuan have been designated to the board of Raffles Health Insurance as non-executive and independent directors, with effect from Feb 1. Commenting on their appointments, Raffles Medical Group executive chairman Loo Choon Yong said: “Their vast experience in the banking and financial sector will contribute positively to the…
Read MoreUPS breaks with Amazon to take ‘control of own destiny’
UNITED Parcel Service (UPS) suffered its biggest one-day share drop after shocking the market by slashing business with the world’s largest online retailer. The move to scale back business with Amazon.com by 50 per cent will allow the courier to focus on more profitable shipments. Carol Tomé, the company’s chief executive officer, defended the…
Read MoreExxon beats Q4 estimates with higher Permian, Guyana output
EXXONMOBIL on Friday (Jan 31) beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Its profit was US$7.39 billion or US$1.67 per share, beating analyst estimates of US$1.56, LSEG data showed. Exxon’s low production costs in the basin and its lucrative and prolific…
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