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Straits Times
3 days ago
- Business
- Straits Times
STI up 1.2%, buoyed by the latest US inflation data, as S'pore stocks track regional gains
Sign up now: Get ST's newsletters delivered to your inbox Singapore shares broke the three-day losing streak with the STI rising to 4,272.76 points. SINGAPORE – Local shares broke their three-day losing streak with some ease on Aug 13 as investor optimism over new US inflation data boosted global markets. The very real prospect of an impending interest rate cut in the US in September propelled the Straits Times Index (STI) up 1.2 per cent or 52.04 points to 4,272.76 with gainers belting losers 391 to 185 on trade of 1.9 billion securities worth $2 billion. The mood was set by Wall Street overnight when the encouraging inflation numbers sent the three key indexes up by around 1.2 per cent, leaving the Nasdaq and the S&P 500 at record levels. Regional markets needed no more encouragement. Hong Kong's Hang Seng led the charge, surging 2.6 per cent, while South Korea's Kospi rose by 1.1 per cent, the Nikkei 225 in Japan gained 1.3 per cent and Malaysian shares climbed 1.2 per cent. Australia missed the boat after some mediocre corporate results left the ASX 200 down 0.6 per cent after hitting a record in early trading. Julius Baer chief economist David Kohl noted that prices of items potentially affected by higher tariffs, such as apparel and electronics, have gone up slightly in the US. 'These scattered signs suggest that tariffs are driving up the prices of a number of goods,' he said, adding that inflation remains closer to 3 per cent than to the US Federal Reserve's target of 2 per cent. Top stories Swipe. Select. Stay informed. Singapore NEL, SPLRT disruption: Electricity surge shut down backup power switchboard, says LTA Singapore HSA seeks Kpod investigators to arrest abusers, conduct anti-trafficking ops Opinion The 30s are heavy: Understanding suicide among Singapore's young adults Singapore Jail for man who scammed at least 5 people over illegal cross-border taxi services Singapore Lawyer who sent misleading letters to 22 doctors fails in bid to quash $18,000 penalty Singapore 4 taken to hospital after accident near Sports Hub, including 2 rescued with hydraulic tools Asia Malaysia's anti-graft agency busts arms smuggling ring masterminded by senior military officers Singapore SG60: Many hands behind Singapore's success story 'We expect more signs of slowing demand and a softer labour market in the coming weeks,' Mr Kohl added. On the home front, developer CDL was the STI's top gainer, rising 7.1 per cent to $6.80, while Wilmar International led the losers, falling 1 per cent to $2.94 despite a 2.6 per cent rise in first-half net profit.
Business Times
3 days ago
- Business
- Business Times
Singapore stocks track regional gains; STI up 1.2%
[SINGAPORE] Shares on the local bourse ended higher on Wednesday (Aug 13), following three consecutive sessions of declines. The rebound came as regional markets also closed higher, buoyed by the latest US inflation data that raised expectations that the Federal Reserve would cut interest rates next month. The benchmark Straits Times Index (STI) rose 1.2 per cent or 52.04 points to close at 4,272.76. The top gainer on the index was (CDL), which rose 7.1 per cent or S$0.45 to S$6.80. At the bottom of the index was Wilmar International , which slid 1 per cent or S$0.03 to S$2.94, despite having reported a 2.6 per cent rise in net profit to US$594.9 million for the first half ended Jun 30. The three local banks gained ground on Wednesday. DBS climbed 1 per cent or S$0.49 to S$51.45, UOB was up 0.9 per cent or S$0.32 to S$36.19 and OCBC rose 0.4 per cent or S$0.06 to S$16.81. Across the broader market, gainers edged out losers 391 to 185, after 1.9 billion securities worth S$2 billion were traded. Elsewhere in the region, key indices ended in the black. South Korea's Kospi rose by 1.1 per cent, Japan's Nikkei 225 gained 1.3 per cent, the FTSE Bursa Malaysia KLCI climbed 1.2 per cent, and Hong Kong's Hang Seng Index saw the biggest increase, up 2.6 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up These regional gains come amid US consumer prices rising at a solid monthly rate of 0.2 per cent. This was 'largely in line with expectations', leading to unchanged headline and slightly higher core inflation rates than in the previous month, said David Kohl, chief economist at Julius Baer. Headline inflation stayed at 2.7 per cent, while core inflation, which excludes volatile food and energy prices, accelerated from 2.9 per cent in May to 3.1 per cent in June. Kohl noted that prices of items potentially affected by higher tariffs, such as apparel and electronics, have gone up slightly in the US. 'These scattered signs suggest that tariffs are driving up the prices of a number of goods,' he said, adding that inflation remains closer to 3 per cent than to the US Federal Reserve's target of 2 per cent. 'We expect more signs of slowing demand and a softer labour market in the coming weeks,' he said. In the absence of significant tariff-induced inflation spikes and with a rather gradual and transitory upside risk to inflation from tariffs, Kohl said the Federal Reserve is most likely to resume its rate cuts at the next Federal Open Market Committee meeting in September.
Toronto Sun
06-08-2025
- Business
- Toronto Sun
NFL and ESPN reach nonbinding agreement for sale of NFL Network and other media assets
Published Aug 05, 2025 • Last updated 5 minutes ago • 5 minute read This Sept. 16, 2013, file photo shows the ESPN logo prior to an NFL football game between the Cincinnati Bengals and the Pittsburgh Steelers, in Cincinnati. Photo by David Kohl / THE ASSOCIATED PRESS Ever since the NFL announced it was looking to sell NFL Network and other media assets, ESPN had been seen as one of the favorites to make a deal. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Nearly five years later, a framework is finally in place. The NFL announced Tuesday night that it has entered into a nonbinding agreement with ESPN. Under the terms, ESPN will acquire NFL Network, NFL Fantasy and the rights to distribute the RedZone channel to cable and satellite operators and the league will get a 10% equity stake in ESPN. The league and ESPN still have to negotiate a final agreement and get approval from NFL owners. The agreement will also have to undergo regulatory approvals. 'Sometimes great things take a long time to get to the point where it's right. And we both feel that it is at this stage,' NFL Commissioner Roger Goodell said in a call with The Associated Press. Along with the sale of NFL Network, the NFL and ESPN will have a second nonbinding agreement where the NFL will license to ESPN certain NFL content and other intellectual property that can be used by NFL Network and other assets that have been purchased. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'We have been talking about it in earnest for the last few years. But interestingly enough, we started talking about this over a decade ago but nothing really ended up happening. And we got back at it when I came back to Disney after my retirement,' Disney CEO Bob Iger said in a call with the AP. What ESPN gets ESPN is expected to launch its direct-to-consumer service before the end of September. The service would give cord-cutters access to all ESPN programs and networks for $29.99 per month. The addition of more NFL programming increases the value. Many viewers will receive the service for free as part of their subscription to cable, satellite and most streaming services. 'When I came back to Disney and assessed essentially the future of ESPN, it became clear that ESPN had to launch a bigger and more robust and digital or direct-to-consumer product, not only for the sake of ESPN's business, but for the sports fan,' Iger said. 'And obviously, when you start thinking about high-quality sports content, your eyes immediately head in the direction of the NFL because there's really nothing more valuable and more popular than that. This advertisement has not loaded yet, but your article continues below. NFL Network — which has nearly 50 million subscribers — would be owned and operated by ESPN and would be included in ESPN's direct-to-consumer product. The NFL RedZone channel would be distributed by ESPN to cable and satellite operators. However, the NFL will continue to own, operate and produce the channel as well as retain the rights to distribute the channel digitally. ESPN would also get rights to the RedZone brand, meaning RedZone channels for college football and basketball or other sports could be coming in the future. NFL Fantasy Football would merge with ESPN Fantasy Football, giving ESPN the official fantasy football game of the league. NFL Network will still air seven games per season. Four of ESPN's games, including some that are in overlapping windows on Monday nights, would move to NFL Network. ESPN will license three additional games that will be carried on NFL Network. This advertisement has not loaded yet, but your article continues below. The league gets a 10% equity stake in ESPN. Aidan O'Connor, a senior vice president at the Prosek Partners marketing firm, estimates the value of that would be $2.2 billion to $2.5 billion. ESPN is currently 80% owned by ABC Inc. as an indirect subsidiary of The Walt Disney Company. The other 20% is owned by Hearst. There isn't any word yet on whether the 10% stake for the NFL would all come from ABC's stake or whether it would be 5% each from ABC and Hearst. This isn't the first time the league has had an equity stake in a digital or communications business. It had that in the past with Sirius Satellite Radio and SportsLine. The NFL could also have equity in the newly formed 'Paramount Skydance Corporation,' which owns CBS, due to the league's partnership with Skydance. This advertisement has not loaded yet, but your article continues below. 'This is new as far as a partner now operating a business that we built, ran and grew,' said Hans Schroeder, the NFL's executive vice president of media distribution. 'It'll also be a little bit new again with some of the dynamics here, but we'll continue to balance that in a really arm's length way where we'll think about how we manage and work across to all our partners.' The league will continue to own and operate NFL Films, NFL+, the official websites of the 32 teams, the NFL Podcast Network and the NFL FAST Channel (a free ad-supported streaming channel). 'The moves align with the NFL's longstanding ambition to reach $25 billion in annual revenue by 2027 — a target first set in 2010, when league revenue stood at approximately $8.5 billion,' O'Connor said. 'Financially, the move also signals to investors that ESPN is doubling down on differentiation and content stickiness by offering a scarce and premium product in a crowded marketplace. Intentionally ceding equity to the NFL transforms ESPN from a media licensee into a true platform partner — with few properties rivaling the league in terms of cultural significance, appointment viewing, audience reach, and monetization efficiency.' This advertisement has not loaded yet, but your article continues below. Viewers will likely not see any immediate impacts until next year once everything is approved. Besides ESPN, the biggest winner in this could be NFL Network, which had seen reductions in original programming the past couple years. Total Access , the network's flagship show since its launch in 2003, ended in May 2024 amid a series of layoffs and cost-cutting moves. 'Good Morning Football' also moved from New York, where it had been since its start in 2016, to Southern California last year. NFL Network moved to a broadcast facility across the street from SoFi Stadium in Inglewood, Calif., in 2021. 'The thing that's exciting for us is that we have put a lot into the network. I think it's been very effective for fans. We know it's in good hands,' Goodell said. 'They're innovative, they recognize great production and know how to produce it. They will do a fantastic job of operating the network and taking it to another level.' RECOMMENDED VIDEO Columnists World Canada Toronto Maple Leafs Toronto & GTA
CNBC
29-07-2025
- Business
- CNBC
U.S. Treasury yields hold steady ahead of Fed meeting
U.S. Treasury yields were flat on Tuesday, just ahead of the Federal Reserve's two-day policy meeting. At 4:09 a.m. ET, the 10-year Treasury yield was down less than one basis point at 4.414%. The 2-year yield was less than one basis point higher at 3.922%, and the 30-year yield was also under one basis point higher at 4.959%. One basis point is 0.01%. Yields and prices move in opposite directions. Fed funds futures traders are pricing in a 97% probability that rates will remain unchanged at 4.25%-4.50% at the meeting, according to the CME FedWatch tool. "Odds are that it will be a non-event," said Ed Yardeni, president of Yardeni Research. "The only drama will be whether the FOMC sticks to the current party line: 'We are in no rush to lower interest rates.' Or, will it signal a dovish pivot?" Similarly, Julius Baer's chief economist David Kohl said he expects the Fed to resume its rate-cutting cycle only at its FOMC meeting in September. "If there is more certainty that the tariff-driven inflation spike is only transitory, the Fed will be able to adopt a neutral policy stance in 2026, with an additional two rate cuts of 25 basis points," he said. Investors will also be keeping an eye out for the personal consumption expenditures index for June, expected to be released on Thursday. The data, which is the Fed's preferred inflation gauge, is forecast to show inflation increasing from 2.3% to 2.4% year over year, according to FactSet. The report will also reveal the effects of tariffs on inflation.
Yahoo
13-05-2025
- Business
- Yahoo
ESPN standalone streaming service will cost $29.99 a month
An ESPN logo is seen before an NFL game between the Cincinnati Bengals and the Pittsburgh Steelers in Cincinnati. (David Kohl / Associated Press) For the first time, sports fans will be able to subscribe to ESPN without signing up for satellite or cable TV. It will cost $29.99 a month. The Walt Disney Co. unit announced Tuesday that the new direct-to-consumer streaming service will go by the legacy name ESPN, a sign that the sports media behemoth sees streaming as the future. The launch date will be in early fall. Advertisement The standalone service will provide live feeds of all ESPN channels including ESPN2, ESPNU, SECN, ACCN, ESPNEWS and ESPN Deportes. Users will also be able to stream ESPN productions airing on the ABC broadcast network, which include the NBA Finals and "Monday Night Football." The service will also be available in a streaming bundle, where consumers can get ESPN, Disney + and Hulu for $35.99. The bundle plan will be available at a discounted $29.99 for the first year. "It's going to redefine our business," ESPN Chairman Jimmy Pitaro said at a press briefing held at Disney's New York headquarters in lower Manhattan. The unveiling of the new product is a significant moment for the company. The current streaming service ESPN+ offers the channels, but only to users who have pay TV. Advertisement As younger consumers have moved to streaming, they have left behind the cable universe their parents lived with. The new ESPN streaming product is aimed at attracting sports fans who are not buying pay TV. Read more: Broadcast television is in trouble. Stations are asking Washington for help "Our priority is looking at the 60 million households on the sidelines," Pitaro said. Pitaro said the brand name has meaning to younger consumers who spend time with it on social media and digital platforms even if they don't watch on cable. ESPN has long received the biggest cut of cable bills and as a result felt the most pain as consumers were giving up their pay-TV subscriptions. The network has managed to offset that revenue loss with increases in ad revenue and cost-cutting. Advertisement Under Pitaro's watch, ESPN has locked up a number of major sports rights deals in recent years that he believes will strengthen the streaming offering. Last year, the company finalized a new 11-year deal to keep the NBA. Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times.
