Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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8 minutes ago
Fiat Chrysler says not approached by Great Wall Motor
Leon Hadar - Fiat Chrysler Automobiles (FCA) has not been approached by China's Great Wall Motor regarding its Jeep sport utility vehicles brand nor any other matters relating to its business, the company said in a statement on Monday.
13 minutes ago
Total boosts North Sea business with US$7.5 billion Maersk Oil deal
Leon Hadar - PARIS/COPENHAGEN: Total is buying Maersk's oil and gas business in a US$7.45 billion deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow. For Danish company A.P. Moller Maersk , the sale of Maersk Oil, with reserves equivalent ...
13 minutes ago
Update: US destroyer arrives at Changi Naval Base; 10 sailors still missing
[SINGAPORE] Ten sailors are still missing after a US warship collided with an oil tanker east of Singapore before dawn on Monday, tearing a hole beneath the waterline and flooding compartments that include a crew sleeping area, the US Navy said.
13 minutes ago
Singapore shares post fifth straight decline; STI down 0.15% to 3,246.99
Kenneth Lim - SINGAPORE shares fell for the fifth straight session on Monday as the Straits Times Index slipped 0.15 per cent, or five points, to close at 3,246.99.
34 minutes ago
Malaysia: Shares end lower on Monday
MALAYSIAN shares ended lower on Monday with the Kuala Lumpur Composite Index slipping 4.60 points to close at 1,771.62.
37 minutes ago
Asian markets start week cautiously
Leon Hadar - HONG KONG: Asian traders moved cautiously on Monday (Aug 21)with turmoil in the White House fuelling concerns about Donald Trump's economic agenda, as a central bankers' summit comes into view later in the week. While tensions over North Korea have eased, the deadly terror attack in Barcelona on ...
58 minutes ago
Indonesia's Bank Mandiri gets approval for stock split
[JAKARTA] Shareholders of Indonesia's largest bank by asset, Bank Mandiri, on Monday approved the lender's plan for a 1:2 stock split, its chief executive said.
1 hour ago
More synchronised global growth boosts dividend payouts of banks
Samantha Chiew - SINGAPORE (Aug 21): Global dividend growth has been steadily increasing in the second quarter this year. This is all thanks to more evenly spread economic growth as well as banking sector payouts making a comeback after several consecutive years of stress tests that have affected profitability. In t ...
1 hour ago
HK: Shares end higher after boost from China Unicom, energy firms
[SHANGHAI] Hong Kong shares finished higher on Monday, supported by strong performance in energy and telecoms firms after China Unicom's ownership reform plan was given the green light by China's securities regulator.
1 hour ago
US business economists fret over Trump policy agenda
Leon Hadar - US business economists worry about the prospects for President Donald Trump's policy agenda, and the potential damage to the economy from his trade and immigration policies, according to a survey released on Monday.
1 hour ago
China's Great Wall confirms interest in Fiat Chrysler
Today - BEIJING/SHANGHAI - China's Great Wall Motor Co Ltd is interested in bidding for Fiat Chrysler Automobiles (FCA), a company official said on Monday, confirming earlier reports that it is pursuing all or part of the owner of brands including Jeep and truckmaker...
1 hour ago
Could Yoma be on the cusp of re-rating with potential spinoff?
Michelle Zhu - SINGAPORE (Aug 21): OCBC Investment Research is maintaining its “hold” call on Yoma Strategic Holdings with an unchanged fair value estimate of 58 cents, following news of a slight adjustment to Yoma’s shareholdings in SHC Capital Asia post its proposed reverse takeover (RTO) deal. To recap, t ...
1 hour ago
Greek govt bond yields dip after Fitch upgrade
[LONDON] Greek government bond yields dipped early on Monday after Fitch became the second ratings agency to upgrade it to "Single B" status, marking another milestone in the debt-laden state's slow journey away from default territory.
2 hours ago
France's Total to buy Maersk Oil for US$7.45 billion
Leon Hadar - French oil giant Total said on Monday that it would buy Maersk Oil, a unit of the Danish shipping giant A.P. Moller-Maersk, for $7.45 billion (6.35 billion euros).
2 hours ago
Moroccan suspect in Barcelona attack turned more conservative in past year: family
[MRIRT, Morocco] A suspect still at large after the Barcelona van attack began showing more religiously conservative behaviour within the past year and refused to shake hands with women during a visit to his birthplace in Morocco in March, family members say.
2 hours ago
Iraq plans to shift Basra crude price benchmark for Asia from January
[DUBAI] Iraq has informed its customers that it plans to change its price benchmark for Basra crude in Asia to DME Oman futures from January, the country's latest move to reform its oil sales.
2 hours ago
China's Great Wall interested in acquiring Fiat Chrysler: Great Wall official
Today - SHANGHAI - China's Great Wall Motor is interested in acquiring Fiat Chrysler Automobiles (FCA) , a Great Wall official told Reuters on Monday. "With respect to this case, we currently have an intention to...
2 hours ago
Centre to help Singapore, Chinese firms co-innovate launched in Guangzhou
Jacquelyn Cheok - THE Singapore Manufacturing Innovation Centre (SMIC), a one-stop shop to facilitate partnerships between Singapore Industry 4.0 tech solution providers and Chinese enterprises looking to adopt such solutions, has been launched in Guangzhou.
2 hours ago
China's HNA boosts Dufry stake, pursues CWT purchase plan
Reuters - (Aug 21): Chinese conglomerate HNA Group has completed the acquisition of a 16.2% stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday. See: HNA is said to schedule long-awaited vote on US$1 bil CWT deal No value for the deal was giv ...
2 hours ago
Money laundering probe exposes Australian banks' compliance frailties
Leon Hadar - HONG KONG/SYDNEY: A money laundering probe at Commonwealth Bank of Australia is the latest in a slew of scandals denting the reputation of Australian banks as simple, reliable lenders at the forefront in the battle against financial crime. Australian banks have lagged their global peers in both ...
2 hours ago
China expresses 'strong dissatisfaction' with U.S. intellectual property probe
Today - BEIJING - China on Monday expressed "strong dissatisfaction" with the U.S. launch of an investigation into China's alleged theft of U.S. intellectual property. China's Commerce Ministry said in a statement that it would take appropriate...
2 hours ago
New Novartis drug takes aim at tough-to-treat malaria
[LONDON] Novartis is taking aim at drug-resistant malaria - a growing global problem - by launching clinical trials of the first new antimalarial medicine for many years in nine countries across Africa and Asia.
2 hours ago
Europe: Stocks extend losses at open
[LONDON] Europe's main stock markets fell at the start of trading Monday, extending pre-weekend losses, with major takeover activity within the oil sector failing to lift sentiment.
2 hours ago
Normanton Park enbloc sale launched: reserve price of S$800m or S$898 psf ppr
THE tender for the collective sale of Normanton Park, near Science Park and Kent Ridge Park, has been launched. The reserve price is S$800 million, which translates to S$898 per square foot per plot ratio.
2 hours ago
Tech leaders warn against 'Pandora's box' of robotic weapons
[SYDNEY] Elon Musk is leading demands for a global ban on killer robots, warning technological advances could revolutionise warfare and create new "weapons of terror" that target innocent people.
2 hours ago
Total to buy Maersk Oil & Gas for US$4.95b in shares
[PARIS] Total SA has agreed to buy the oil and gas unit of AP Moller-Maersk A/S for US$4.95 billion, another sign that the pace of deals in the energy sector is accelerating after a long downturn.
2 hours ago
Australia shares end lower as caution prevails; NZ slightly down
[BENGALURU] Australian shares closed lower on Monday, tracking weakness on Wall Street amid increasing doubts about the Trump administration's ability to deliver on its economic agenda.
3 hours ago
Bumitama gets a ‘buy’ from UOB
PC Lee - SINGAPORE (Aug 21): UOB KayHian is maintaining its “market weight” for Singapore plantation stocks with a “buy” call on Bumitama Agri given its young tree age profile. This comes on the back of rising concerns on the potential CPO (crude palm oil) price weakness going into 2018 with another ...
3 hours ago
Sempra Energy to buy Oncor for $9.45 billion in cash
Today - Sempra Energy said it will buy power transmission company Oncor, 80 percent owned by Energy Future Holdings Corp, for $9.45 billion in cash, resolving the Texas utility's long-standing bankruptcy case. San Diego-based Sempra expects to own...
3 hours ago
Old Chang Kee kept at ‘buy’ on new factory and expansion
Samantha Chiew - SINGAPORE (Aug 21): Phillip Capital is maintaining its “buy” call on Old Chang Kee as it expects the group’s newly constructed factory which will be commencing in 3Q18 to yield manufacturing efficiencies and new product offerings. Located at 2 Woodlands Terrace, the new factory has received it ...
3 hours ago
China's HNA buys 16.2% stake in Swiss airport retailer Dufry from GIC, Temasek
[HONG KONG] Chinese conglomerate HNA Group has completed the acquisition of a 16.2 per cent stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday.
3 hours ago
Tokyo: Nikkei skids on US political woes but Yusen climbs on possible dividend resumption
[TOKYO] Japanese stocks fell to a fresh 3-1/2-month low on Monday as global investors remained cautious amid worries over whether the Trump administration will be able to implement growth boosting measures.
3 hours ago
Sempra Energy to buy Oncor for US$9.45 billion in cash
Leon Hadar - Sempra Energy said it will buy power transmission company Oncor, 80 percent owned by Energy Future Holdings Corp, for US$9.45 billion in cash, resolving the Texas utility's long-standing bankruptcy case.
3 hours ago
The anti-sugar fad is now a trend
Bloomberg - (Aug 21): Cutting back on sugar? So is much of the world. The change can be attributed to several factors, according to a new report from Rabobank, including warnings about rising obesity rates, government initiatives like soda taxes, and manufacturers’ commitments to reformulating processed foods ...
3 hours ago
Seoul: Won higher on weaker US dollar; joint military exercise eyed
[SEOUL] The South Korean won inched up on Monday as the US dollar weakened on worries over US politics and investors scrutinised the United States' and Seoul's largely computer-based joint military exercise.
3 hours ago
Why CapitaLand's managed REITs are considered bellwethers
Staff Reporter - They have the financial flexibility post-sale of non-core assets. CapitaLand's real estate investment trusts (REITs) are considered leaders in the field given their strong financial flexibility, analysts from DBS Group Research said. According to analyst Derek Tan, CapitaLand Commercial Trust a ...