Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

Latest Business Headlines and Stock Market News Published by Singapore Publisher Channel News Asia, Deal Streat Asia, Singapore Business Review, The Business Times, The Edge Market, Today Online @ SGinvestors.io

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11 minutes ago

US Justice Dept. adds antitrust staff amid Big Tech probes - sources

Claudia Chong - With probes of Alphabet Inc's Google and other major platforms underway, the U.S. Justice Department's Antitrust Division is hiring both to bulk up for the big tech probes and to replace people who left, according to two Justice Department officials with knowledge of the matter.

26 minutes ago

US motorists drove less in November than year earlier

Claudia Chong - U.S. motorists traveled fewer miles in November than a year earlier, the U.S. Department of Transportation said in a report on Monday.

56 minutes ago

US new home sales fall unexpectedly as low mortgage rates lend support

Claudia Chong - WASHINGTON: Sales of new US single-family homes fell unexpectedly in December, likely held down by a shortage of more affordable homes, but lower mortgage rates supported the overall housing market. The US Commerce Department report on Monday (Jan 27) also showed downward revisions to sales for .. ...

1 hour ago

British PM on Huawei: We will do 5G without hurting security

Claudia Chong - Prime Minister Boris Johnson said on Monday he would make a decision on Huawei's role in Britain's future 5G network that would give Britons the benefits of the new technology without compromising national security.

1 hour ago

European stocks, oil tumble as China virus rattles markets

LONDON: European stocks and oil plunged on Monday (Jan 27) as panicked investors fled risky assets for safer bets gold, bonds, the dollar and the yen, after China warned that a deadly new coronavirus was spreading fast. On equity markets luxury goods makers and airlines suffered particularly as ...

2 hours ago

J&J chief testifies he did not read all documents related to asbestos in talc

Johnson & Johnson Chief Executive Alex Gorsky told a jury Monday that he did not read all the internal company documents related to potential asbestos contamination in Johnson's Baby Powder.

2 hours ago

ESR-REIT looks a promising investment, analysts say

Amala Balakrishner - SINGAPORE (Jan 27): Amid a subdued economic environment and a consolidation of portfolios through the merging of real estate investment trusts (REITs), ESR-REIT provides a good investment opportunity, analysts say. With its 57 properties around Singapore, the REIT has a total gross floor area (GFA) ...

2 hours ago

Singapore confirms 5th case of Wuhan virus

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3 hours ago

GM to invest US$2.2 billion at Detroit factory to make electric trucks, SUVs

Claudia Chong - General Motors Co will invest US$2.2 billion in its Detroit-Hamtramck assembly plant to build a variety of electric trucks and SUVs, the No.1 U.S. automaker said in a statement on Monday.

3 hours ago

Wuhan virus expected to impact Singapore’s economy: Chan Chun Sing

SINGAPORE: The Wuhan coronavirus outbreak will impact Singapore’s economy, with tourism-related sectors being of “immediate concern,” said Minister for Trade and Industry Chan Chun Sing on Monday (Jan 27). These include hospitality-related companies such as hotels and travel agents, and sector ...

4 hours ago

GM to spend US$2.2 billion to make electric trucks and SUVs at Detroit factory

General Motors Co will invest US$2.2 billion in its Detroit-Hamtramck assembly plant to build a variety of electric trucks and SUVs, the No.1 U.S. automaker said in a statement on Monday.

4 hours ago

Wall Street set to open sharply lower as China virus fear mounts

Claudia Chong - U.S. stock index futures fell sharply on growing concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and more big businesses shut down.

5 hours ago

Trump's 'massive' US-UK trade deal faces big hurdles

Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union.

5 hours ago

Fed's first hurdle in 2020: Dispensing with 'QE Lite'

The Federal Reserve's bond portfolio is swelling again at a pace not seen since the "quantitative easing" heyday in the early 2010s. Prices for stocks and other risky assets are also rising at a fast clip - a state of affairs that a growing chorus of investors, economists and former Fed officials .. ...

5 hours ago

Casper IPO valuation dwindles from peak of US$1 billion

Claudia Chong - Casper Sleep Inc, the online mattress retailer whose investors include actor Leonardo DiCaprio and rapper 50 Cent, expects its initial public offering valuation to be well below the roughly US$1 billion it commanded in the last funding round.

5 hours ago

Delivery rider braces for blizzards when he becomes first S’porean to take on Fjallraven Polar expedition

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5 hours ago

J&J CEO to testify at trial for first time on Baby Powder risks

Johnson & Johnson Chief Executive Officer Alex Gorsky was set to be called as a witness on Monday in what would be his first appearance in a jury trial over allegations that the company's Baby Powder causes cancer.

5 hours ago

Emirates advises crew to stay in hotels, avoid crowds in China due to virus outbreak

Claudia Chong - DUBAI: Dubai's Emirates airline is advising its flight crew to stay in their hotels when on a layover in China due to the new coronavirus outbreak there that has killed 81 people. In an internal notice, seen by Reuters, the airline also recommends that crew avoid areas where there would be large ...

5 hours ago

Stock futures tumble on fears of financial hit from China virus

Claudia Chong - U.S. stock index futures fell sharply on growing concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and more big businesses shut down.

6 hours ago

Miscommunication resulted in disclosure omission, says Advancer Global

Sharanya Pillai - CATALIST-LISTED Advancer Global has pointed to miscommunication as the reason for its failure to disclose that its recently appointed chairman is also a director at taxi firm Trans-Cab Holdings. 

6 hours ago

EU to rule on US$120 billion United Technologies, Raytheon deal by February 28

EU antitrust enforcers will rule by Feb. 28 whether to approve United Technologies Corp and U.S. contractor Raytheon Co's bid to create a US$121 billion aerospace and defense giant, a filing on the European Commission website showed.

7 hours ago

Oil drops below US$60 as China virus drives demand concern

Oil prices slumped a further 2per cent to multi-month lows on Monday as the rising number of cases of the new China virus and city lockdowns deepened concerns about demand for crude, even as Saudi Arabia's energy minister sought to calm the market.

7 hours ago

EU antitrust regulators to rule on US$69 billion Aramco-SABIC deal by February 27

Rachel Mui - EU antitrust regulators will decide by Feb. 27 whether to clear state energy firm Saudi Aramco's US$69.1 billion acquisition of world number four petrochemicals group Saudi Basic Industries Corp (SABIC), a European Commission filing showed.

7 hours ago

Exclusive: Hackers acting in Turkey’s interests believed to be behind recent cyberattacks - sources

Sweeping cyberattacks targeting governments and other organisations in Europe and the Middle East are believed to be the work of hackers acting in the interests of the Turkish government, three senior Western security officials said.

7 hours ago

EU antitrust regulators to rule on US$69 billion Aramco, SABIC deal by February 27

Rachel Mui - EU antitrust regulators will decide by Feb. 27 whether to clear state energy firm Saudi Aramco's US$69.1 billion acquisition of world number four petrochemicals group Saudi Basic Industries Corp (SABIC), a European Commission filing showed.

8 hours ago

India renews push to sell Air India, puts entire stake on the block

Rachel Mui - India said on Monday it plans to sell its entire interest in Air India Ltd, making a renewed push to sell the flag carrier after it drew no bids in an effort to auction a majority stake almost two years ago.

8 hours ago

Capgemini passes first hurdle in Altran bid despite Elliott resistance

Rachel Mui - French consulting and IT services provider Capgemini succeeded in securing more than half of the capital of smaller rival Altran Technologies, the French market regulator AMF said on Monday, marking a win against U.S. activist fund Elliott.

9 hours ago

Tan Cheng Bock’s Progress Singapore Party opens new headquarters

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9 hours ago

Indian panel wants encryption broken in fight against child porn

Rachel Mui - Indian enforcement agencies should be able to break end-to-end encryption to hunt down distributors of child pornography online, a parliamentary panel has urged as the south Asian nation looks to regulate social media.

9 hours ago

AbbVie-Allergan US$63 billion deal aided by Nestle, AstraZeneca buys

Rachel Mui - U.S. drugmaker AbbVie's US$63 billion tie-up with Allergan is getting help from Nestle and AstraZeneca buying up products the Irish-domiciled company is shedding to placate regulators.

9 hours ago

Business survey suggests US labor market may have peaked

There is an even balance in the share of U.S. businesses reporting decreases and increases in employment for the first time in a decade, a survey showed on Monday, the latest suggestion that the labor market has likely peaked and job growth could slow this year.

10 hours ago

Wuhan virus: No ban on travellers from China at the moment, as Govt cautions against overreacting

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10 hours ago

China virus sends shockwaves through Asia tourist industry

Rachel Mui - A deadly virus that has prompted travel restrictions in China is sending shockwaves through Asia's tourism industry, which has become increasingly reliant on growing numbers of Chinese visitors.

11 hours ago

All’s well at Sembawang Hot Spring Park, but some still unaware of proper etiquette despite signs

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12 hours ago

Hospitality & tourism to slow down amidst Coronavirus outbreak

Staff Reporter - Submitted By:  Shaina Teope Case Study:  No Singapore hotels’ performance will likely imitate the 42% fall in daily average rate during the SARS outbreak. Singapore hotels’ average occupancy rates (AOR), and average daily rates (ADR) are sighted to plunge should the SARS-like ...

12 hours ago

Government urged to adopt tax incentives for 5G adoption: KPMG

Staff Reporter - Submitted By:  Clarist Zablan Case Study:  No This includes tax credits of up to 42.5% for the development of use cases for 5G. The government is being encouraged to implement a digital transformation package consisting of broad-based tax incentives to hasten the adoption of 5G in Singapo ...