Posts by Liam Redmond
Trump says he has ‘good idea’ of who he wants for Fed chair
PRESIDENT Donald Trump said he will be looking at a couple of candidates to chair the Federal Reserve, after the Financial Times reported that he would begin interviews with contenders this week. “We’re going to be looking at a couple different people, but I have a pretty good idea of who I want,” Trump told…
Read MoreCracker Barrel shares tumble over 10% after logo fiasco forces chain to slash forecast
Cracker Barrel posted lower-than-expected sales in its fiscal first quarter and trimmed its revenue forecast for the year as it continued to feel the fallout from a botched plan to revamp its logo and restaurants. The Lebanon, Tennessee-based restaurant chain said Tuesday its revenue fell 5.7% to $797.2 million in the three months ending Oct. 31. That…
Read MoreWells Fargo expects more job cuts, will roll out AI gradually in 2026
[NEW YORK] Wells Fargo expects more cuts to its workforce and sees higher severance expenses in the current fourth quarter, CEO Charlie Scharf said on Tuesday (Dec 9), adding that artificial intelligence (AI) was set to change the way its business works. “We have gone through the budgeting process, and even pre-artificial intelligence, we do…
Read MoreShould CapitaLand Ascendas Reit rejig its portfolio further in favour of data centres and life sciences assets?
With the Reit in a prime position to capitalise on its advantage in such assets, this is the right time to seize the opportunities [SINGAPORE] CapitaLand Ascendas Reit’s (Clar) portfolio has seen a fair amount of activity in the past few months. It has divested some of its legacy logistics assets while growing its exposure…
Read MoreWorld watches first teen social media ban kick off in Australia
[SYDNEY] Australia’s social media ban for youths took effect on Wednesday (Dec 10), a landmark move that’s drawn global attention at a time governments are increasingly enacting rules to shield minors from toxic content and cyberbullying. The law, passed last year, mandates services such as ByteDance’s TikTok and Meta Platforms’ Instagram keep under-16s off their…
Read MoreRising PGA Tour star Ben Griffin marries Dana Myeroff in luxurious Palm Beach wedding
Ben Griffin is capping off a career year on the PGA Tour as a married man. On Saturday, the 29-year-old golfer married fiancée Dana Myeroff at The Colony Hotel in Palm Beach, where the couple’s 125 guests got “to experience the magic” of the South Florida locale. “Weddings are typically the one time in your…
Read MoreSwatch and Citizen face Italian scrutiny over pricing practices
[MILAN] The Italian competition authority said on Tuesday it had opened two investigations into Swiss watchmaker Swatch and Japan’s Citizen Watch. The probes involve an alleged infringement of European rules on the fixing of retail prices displayed online by the groups’ authorised distributors. The two companies may be limiting price competition among their retailers through a vertical…
Read MoreGlobal airlines set for record US$41 billion net profit next year: Iata
[GENEVA] Global airline trade body Iata said on Tuesday the airline sector would post record profits next year despite ongoing supply-chain issues leading to slower aircraft deliveries and a delay in rolling out more fuel-efficient jets. The projection comes as plane manufacturer Airbus cut its plane delivery target for 2025, citing a quality issue with…
Read MoreOil settles down 1%, focus on Russia-Ukraine peace talks, Fed
[NEW YORK] Oil prices edged lower on Tuesday after falling 2 per cent in the previous session, with investors keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample supply and a looming decision on US interest rates. Brent crude futures settled 55 cents, or 0.88 per cent, lower to…
Read MoreEurope shares subdued with Fed meeting in focus; EssilorLuxottica falls
EUROPEAN shares ended flat on Tuesday as investors stayed cautious going into the US Federal Reserve’s two-day policy meeting, while EssilorLuxottica slumped after Google unveiled plans to launch AI-powered glasses. The pan-European Stoxx 600 closed little changed at 577.77. Regional benchmarks were mixed, with Germany’s DAX up 0.5 per cent and France’s CAC-40 down 0.7 per cent.…
Read MoreUS stocks close mixed as investors await Fed rate decision
THE S&P 500 ended Tuesday’s session slightly lower as investors anticipated that the Federal Reserve would take a hawkish tone even if it cuts interest rates this week, while JP Morgan curbed gains after the biggest US bank warned of hefty expenses for 2026. The Fed kicked off its two-day policy meeting on Tuesday with…
Read MoreMasked LA flash-mob robbery suspect boasts cameras can’t catch ‘my face’ in 7-Eleven heist
A flash mob of armed teens brazenly invaded a Los Angeles 7-Eleven and swiped anything they could get their hands on as one of the suspects bragged that surveillance cameras couldn’t catch his face. The teens arrived on their bicycles and stormed the downtown convenience store on Saturday, breaking down the door and tossing food…
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