Posts by Liam Redmond
Del Monte Pacific back in the black, but remains in net capital deficit of US$589 million
It posts US$10 million Q4 profit but collapse of US unit leaves current liabilities exceeding current assets by US$787 million [SINGAPORE] Canned-food brand Del Monte Pacific on Thursday (Jun 25) reported a Q4 net profit of US$10.1 million, a sharp reversal from the US$704.1 million loss for the previous corresponding period. The big improvement was…
Read MoreDBS, OCBC, UOB, Nets to expand ATM, cash access network after years of rationalisation
[SINGAPORE] DBS, OCBC, UOB and Nets will add more ATMs, branches and cash points across Singapore such that they will be within 500 metres of every Housing & Development Board block by 2027, in a reversal after years of shrinking physical banking infrastructure. By the first quarter of 2027, the banks will also provide clearer…
Read MoreSTI up 0.1% amid AI-stock rally, easing oil prices
[SINGAPORE] Singapore stocks ended higher on Thursday (Jun 25). The benchmark Straits Times Index (STI) gained 0.1 per cent or 2.97 points to finish at 5,218.96. Sats led the gainers on Singapore’s blue-chip index, rising 2.5 per cent or S$0.11 to S$4.50. The worst performer among STI constituents was Thai Beverage , which fell 2.3…
Read MoreJustCo’s the boring office to open first CBD co-working space
The brand is aimed at entrepreneurs, startups and SMEs seeking an affordable central location [SINGAPORE] GIC-backed flexible workspace platform JustCo on Thursday (Jun 25) announced that it would open a new co-working centre in the Central Business District (CBD). This will be the second location of the boring office, one of the company’s portfolio brands,…
Read MoreMoneyMax prices RM200 million 3-year fixed-rate notes at 5.7%
[SINGAPORE] A wholly owned subsidiary of pawnbroker and gold retailer MoneyMax Financial Services has priced RM200 million (S$62.7 million) in three-year fixed-rate notes at 5.7 per cent. The issue is part of the company’s RM500 million medium-term note programme. The notes will be issued on Jun 25, 2026, and mature on Jun 25, 2029. Of…
Read MoreIBM unveils tech for chip smaller than 1 nanometer in AI computing push
Chipmakers are searching for ways to cram more computing power into smaller spaces Published Thu, Jun 25, 2026 · 06:44 PM [WASHINGTON] IBM on Thursday (Jun 25) unveiled what it said was the world’s first technology capable of producing chips smaller than one nanometer, as tech companies race to build semiconductors that can handle increasingly…
Read MoreValley Point could be the hidden gem in Frasers Property’s S$2.1 billion hospitality ‘asset-light’ proposal
Strategically, the move gives the group the master key to the entire Valley Point site [SINGAPORE] Real estate giant Frasers Property’s review of Frasers Hospitality Trust’s (FHT) portfolio following its privatisation last year has finally culminated in a S$2.1 billion game of asset musical chairs. Controlled by the family of Thai billionaire Charoen Sirivadhanabhakdi, the…
Read MoreNikkei marks record closing high as AI shares rally on Micron forecast
Published Thu, Jun 25, 2026 · 04:44 PM [TOKYO] Japan’s Nikkei share average rose more than 4 per cent on Thursday (Jun 25) to notch a record closing high, as AI-related stocks surged after US memory chipmaker Micron’s upbeat quarterly profit and revenue forecast. The Nikkei closed 4.6 per cent higher at 72,366.34, snapping two…
Read MoreApple-Intel chip deal makes strategic sense but production is years away
It pairs Intel’s bid to rebuild credibility as a chipmaker with Apple’s search for more manufacturing capacity Published Thu, Jun 25, 2026 · 04:03 PM [BENGALURU] Apple turning to Intel for chips, as Washington announced last week, has the neat logic of necessity meeting ambition. But it is not that simple, as analysts say any…
Read MoreRenault plans 800 engineering job cuts in France amid intense Chinese competition
The company expects to get its transformation plan approved by unions in July and implemented from September Published Thu, Jun 25, 2026 · 03:57 PM [PARIS] French automaker Renault Group is planning to cut 800 engineering jobs in France by the end of 2027 in a bid to make its organisation leaner to better compete…
Read MoreLarge US banks can weather hypothetical downturn, several raise dividends: Fed
The Fed’s ‘stress test’ shows banks stay above minimum requirements despite a 1.6-percentage-point capital drop Published Thu, Jun 25, 2026 · 03:31 PM [WASHINGTON] The US Federal Reserve said on Wednesday (Jun 24) that 32 of the nation’s largest banks are well-positioned to weather a severe economic downturn and continue lending. This comes as firms…
Read MoreH&M reports Q2 profit miss as tighter inventory hit sales
Operating profit was flat year on year at 5.91 billion Swedish crowns (S$786.7 million) Published Thu, Jun 25, 2026 · 03:18 PM [STOCKHOLM] Swedish fashion retailer H&M reported on Thursday (Jun 25) a smaller-than-expected March to May profit as it was unable to fully meet demand after reducing the amount of clothing it keeps in…
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