News
Puma to cut 900 jobs globally by 2026, initiates business U-turn after sales declines
Shrinking market share, weak demand and US tariffs prompt Puma to warn of annual loss[LONDON] German sportswear maker Puma on Thursday (Oct 30) said it would cut 900 jobs...
Australia’s Lynas Rare Earths Q1 revenue jumps 66% but falls short of forecasts
Lynas is focusing on a build-out of a processing plant in Malaysia, to satisfy East Asian demand[MELBOURNE] First-quarter revenue at Australia’s Lynas Rare Earths rose by 66 per cent...
Prudential Q3 new business profit rises 14% to US$705 million; regional CEO leaves
[SINGAPORE] Prudential on Thursday (Oct 30) posted a 13 per cent year-on-year rise in “new business profit” (NBP) for its third quarter ended Sep 30. The insurance company also...
Nomura expects no more Fed rate cuts in 2025 after October easing
NOMURA said it now expects the US Federal Reserve to keep interest rates unchanged at its December policy meeting, following the central bank’s decision to cut rates on Wednesday.The...
‘I take ultimate responsibility’: Lim Boon Heng on failed Allianz-Income union
Lim and the NTUC Enterprise board acknowledge that the German insurer’s offer could have been managed better[SINGAPORE] Former Cabinet minister Lim Boon Heng said he takes “ultimate responsibility” for the...
Lim Boon Heng expected to retire as NTUC chairman as soon as this week: Bloomberg
[SINGAPORE] Former Cabinet minister Lim Boon Heng is expected to retire from his role as chairman of NTUC Enterprise Co-operative, the parent of Income Insurance, Bloomberg reported on Oct...
Lim Boon Heng retires as NTUC Enterprise chairman at EGM; Tan Hee Teck to take over
[SINGAPORE] SINGAPORE – Former Cabinet minister Lim Boon Heng has retired from his role as chairman of NTUC Enterprise Co-operative, the parent of Income Insurance.Mr Lim’s retirement was announced at the...
Apac private credit to reach US$92 billion in 2027 on wealth boom
The growth of Asia Pacific’s private markets comes against the broader backdrop of mounting headwind[SINGAPORE] The Asia-Pacific private credit market is projected to grow to US$92 billion in 2027...
Gold ticks up on US dollar retreat, Fed rate cut
Focus now shifts to US President Trump’s meeting with Chinese leader Xi Jinping in South Korea later in the day[BENGALURU] Gold prices edged higher on Thursday (Oct 30), as...
Samsung’s chip profit soars after AI fuels demand for memory
Memory chip business is a key pillar of the company’s empire, which spans smartphones and home appliances[SEOUL] Samsung Electronics’ semiconductor arm reported a stronger-than-expected rise in profit, suggesting global...
