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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27 minutes ago
Rocket Companies shares soar more than 70per cent, hurting short sellers
Yong Hui Ting - Shares in heavily-shorted mortgage provider Rocket Companies surged on Tuesday and were set for their third straight day of gains as the stock drew interest on Twitter and Reddit’s popular WallStreetBets.
32 minutes ago
Wall Street mixed as Apple and Tesla retreat
Yong Hui Ting - Wall Street was mixed on Tuesday, with Apple and Tesla losing ground, while materials and energy companies climbed as investors looked toward the U.S. Congress approving another stimulus package.
37 minutes ago
Robinhood now a go-to for young investors and short sellers
Yong Hui Ting - Robinhood, the online brokerage used by many retail traders to pile in to heavily shorted stocks like GameStop Corp, has made an ambitious push into loaning out its clients' shares to short sellers as it expands its business.
38 minutes ago
Biden's SEC nominee vows review of GameStop trading issues
US President Joe Biden's nominee to head a key market regulator promised on Tuesday (Mar 2) a thorough review of issues raised by the GameStop stock frenzy, including whether customers were best served by some retail trading practices.
43 minutes ago
Top US utilities collaborate to build electric vehicle charging stations
Six major utilities unveiled a plan on Tuesday to add electric vehicle fast chargers to connect major highway systems across United States, as they look to cater to the burgeoning electric vehicle market.
47 minutes ago
Venezuelan intelligence monitored Citgo executives in US: Court testimony
Yong Hui Ting - Venezuelan intelligence services monitored six US-based executives of state-owned refiner Citgo Petroleum for a year on US soil to determine their involvement in a deal the government deemed fraudulent, leading to their 2017 arrest in Caracas on corruption charges, according to court testimony.
1 hour ago
Merck to help make Johnson & Johnson's COVID-19 vaccine -White House official
Merck & Co Inc will help make rival Johnson & Johnson's single-shot COVID-19 vaccine in a partnership set to be announced on Tuesday by U.S. President Joe Biden, White House press secretary Jen Psaki said.
1 hour ago
Exclusive: Venezuelan intelligence monitored Citgo executives in US - court testimony
Yong Hui Ting - Venezuelan intelligence services monitored six U.S.-based executives of state-owned refiner Citgo Petroleum for a year on U.S. soil to determine their involvement in a deal the government deemed fraudulent, leading to their 2017 arrest in Caracas on corruption charges, according to court testimony.
1 hour ago
Target to spend US$4 billion a year to speed up delivery as pandemic spurs online gains
Yong Hui Ting - Target Corp will invest US$4 billion annually over the next several years to open new stores and cut delivery times for online orders, hoping to cement gains made during the pandemic that helped more than double holiday quarter digital sales.
2 hours ago
US budget airlines plot pandemic breakthrough
The COVID-19 pandemic has reshaped the global travel landscape and U.S. no-frills carriers are pouncing.
3 hours ago
Singapore Digest: Easy Eat raises funds; AirAsia launches food delivery in city-state
Yimie Yong - Uber's former chief product officer Manik Gupta has backed Easy Eat. The post Singapore Digest: Easy Eat raises funds; AirAsia launches food delivery in city-state appeared first on DealStreetAsia.
3 hours ago
Wall Street retreats after solid start to March
Wall Street's main indexes dropped on Tuesday after a strong start to March as bond yields pulled back from a one-year high, while investors also looked to cues on progress in the next round of fiscal stimulus.
3 hours ago
Target to invest US$4 billion a year to speed up delivery as online demand soars
Yong Hui Ting - Target Corp will invest US$4 billion annually over the next several years to open new stores and cut delivery times for online orders, hoping to cement gains made during the pandemic that helped more than double holiday quarter digital sales.
4 hours ago
How private equity squeezes cash from the dying US coal industry
Yong Hui Ting - Private equity firms are proving there’s still plenty of profit in the U.S. coal industry despite a decade of falling demand for the fossil fuel. They are spending billions of dollars buying coal-fired plants on the cheap - and getting paid even when they are not providing power.
4 hours ago
Beijing dismisses alleged Chinese hacking of Indian COVID-19 vaccine makers
Yong Hui Ting - China on Tuesday rejected an allegation by a cyber intelligence firm that a state-backed hacking group targeted the IT systems of two Indian coronavirus vaccine makers.
4 hours ago
Online demand lights up Kohl's holiday quarter, bets on activewear for growth
Yong Hui Ting - Kohl's Corp posted holiday-quarter profit and sales beyond market expectations on Tuesday, as it reined in costs and Americans loaded their online shopping carts with not just essentials but also leisure goods.
4 hours ago
US shale output won't return to pre-pandemic levels: Occidental CEO
Yong Hui Ting - The oil industry is recovering from a collapse in demand triggered by the coronavirus pandemic, but U.S. shale production will not recover to levels seen before the pandemic, Occidental Petroleum Chief Executive Vicki Hollub said on Tuesday.
4 hours ago
Instacart valuation more than doubles to US$39 billion with latest funding round
Instacart has more than doubled its valuation in less than six months to US$39 billion with a US$265 million fundraising round from existing investors, as the grocery delivery company benefits from a surge in online orders during the COVID-19 pandemic.
4 hours ago
Analysis: US bond derivatives signal calm, but economic fundamentals could spur more sell-offs
After a sharp sell-off last week U.S. Treasury debt has stabilized, with bond market indicators and derivatives positioning pointing to near-term calm, but an improving economy could trigger another sell-off in Treasuries prices.
4 hours ago
OPEC sees positive oil market outlook, but downside risks persist
Yong Hui Ting - OPEC expects oil inventories to drop by about 400 million barrels in 2021 in the latest supply and demand outlook being reviewed by a technical meeting on Tuesday, two OPEC+ sources said.
4 hours ago
Global manufacturing surge accelerates goods inflation: Kemp
Yong Hui Ting - Global manufacturing activity is surging as government support programmes and low interest rates protect consumers' incomes while restrictions on leisure travel and other services divert spending into merchandise.
5 hours ago
Amazon Prime Video apologises for offending Hindu beliefs in Indian political show
Yong Hui Ting - NEW DELHI: Amazon.com's Prime Video streaming service on Tuesday (Mar 2) issued a rare apology to its Indian viewers for some scenes in its original political drama series Tandav, which allegedly hurt Hindu religious beliefs. Tandav, a Hindi word meaning "fury", stars top Bollywood actors. In ...
5 hours ago
Target to invest US$4 billion annually to cement pandemic market share gains
Yong Hui Ting - Target Corp will invest US$4 billion annually over the next several years to open more stores, upgrade existing ones and build-out its supply chain as the retailer tries to cement market share gains made during the COVID-19 pandemic.
5 hours ago
Wall Street dips after solid start to March
Yong Hui Ting - Wall Street's major averages dipped on Tuesday after a strong start to March as investors closely monitored the bond market as well as progress on the next round of fiscal stimulus.
5 hours ago
Beijing dismisses alleged Chinese hacking of Indian vaccine makers
Yong Hui Ting - China on Tuesday rejected an allegation by a cyber intelligence firm that a state-backed hacking group targeted the IT systems of two Indian coronavirus vaccine makers.
5 hours ago
Singapore PMI eases in February but manufacturing sentiment remains positive
Sharon See - OPTIMISM appears to prevail among Singapore manufacturers, with the Purchasing Managers' Index (PMI) in positive territory last month, although momentum appears to have tapered slightly.
5 hours ago
HRnetGroup posts net profit of S$46.9m for FY20
RAE WEE - RECRUITMENT company HRnetGroup posted a net profit of S$46.9 million for its full-year ended Dec 31, 2020, down 9.2 per cent from the year-ago period.
5 hours ago
New initiatives announced to help Singapore companies go digital
SINGAPORE: A slew of new initiatives was announced on Tuesday (Mar 2) as part of efforts to help Singapore businesses in their digitalisation journeys. In announcing the initiatives, Minister for Communications and Information S Iswaran noted that Singapore’s digital future is underpinned by a . ...
5 hours ago
OPEC demand outlook sees oil stocks falling in 2021: sources
Yong Hui Ting - OPEC expects oil inventories to drop by about 400 million barrels in 2021 in the latest supply and demand outlook being reviewed by a technical meeting on Tuesday, two OPEC+ sources said.
5 hours ago
SMEs to get more advisory help to innovate and grow
SINGAPORE: More help is underway for small and medium-sized enterprises (SMEs) to innovate and transform, as part of the Government’s ongoing efforts to ensure local firms can emerge stronger from the COVID-19 crisis. The Innovation Advisors Programme (IAP), for instance, will be expanded to ...
5 hours ago
Canadian dollar adds to Monday's rally as economy grows
Yong Hui Ting - The Canadian dollar edged higher against its U.S. counterpart on Tuesday, adding to the previous day's rally as oil prices rose and domestic data showed faster-than-expected economic growth.
6 hours ago
US airlines remain in 'dire straits,' needs new government assistance: industry group
The head of a group representing major U.S. passenger airlines and a senior union official will make the case Tuesday to lawmakers for a third round of government assistance, according to testimony seen by Reuters.
6 hours ago
Mary Chia proposes debt conversion and issue of 25.5 mil conversion shares of $3.8 mil
Felicia Tan - Mary Chia Holdings has entered into a conditional debt capitalisation agreement (DCA) with Ho Yow Ping (or Wendy Ho), Chia Ah Tow (Mary Chia) and JL Asia Resources (collectively the participating credits) for the proposed debt conversion and issue of 25.5 million shares at a price of 15 cents per co ...
6 hours ago
Mary Chia Holdings proposes debt conversion at S$0.15 per conversion share
RAE WEE - MARY Chia Holdings on Monday entered into a conditional debt capitalisation agreement (DCA) for the proposed debt conversion and issue of conversion shares of the aggregate debt into 25.5 million new ordinary shares, at a conversion price of S$0.15 per conversion share.
6 hours ago
NAC ‘deeply regrets’ The Substation’s closure; explains rejection of its bid to be sole tenant at revamped building
gordon.feeney -
6 hours ago
Facebook oversight board revises bylaws related to timeline for cases
Claudia Tan - Facebook Inc's oversight board said on Tuesday it is revising bylaws related to the timeline for how content appeal cases are decided and implemented.






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