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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38 minutes ago
Europe: Shares end week at record highs on earnings boost
EUROPEAN shares closed at a record peak for a second day on Friday (Feb 23) after gains in Standard Chartered following a strong earnings report, while comments from European Central Bank President Christine Lagarde kept investors’ mood in check.
44 minutes ago
US: Dow and S&P 500 eke out fresh records as stocks rally loses steam
TWO of Wall Street’s three major indices edged higher on Friday (Feb 23) to reach new records, as investors looked to take the profits they have accumulated this week on the back of a market rally fuelled by US technology titan Nvidia’s blockbuster results.
50 minutes ago
SPDR S&P 500 ETF tops record $500 billion in assets as Nvidia soars
A staggering rise in shares of chipmaker Nvidia helped the SPDR S&P 500 ETF Trust become the first exchange traded fund to top $500 billion in assets, market participants said. The largest and most liquid fund tracking the Standard & Poor's 500 index topped $500 billion on Thursday, acc ...
1 hour ago
Rotech says third-party hacked partner Philips Respironics
Rotech Healthcare said on Friday it was reviewing a list of patients who may have been impacted due to a cybersecurity breach experienced by its partner Philips' Respironics unit.On June 23 last year, the unit, which sells breathing devices and ventilators to treat sleep apnea, was made aware o ...
1 hour ago
Commentary: CPF Special Account closure forces a rethink of retirement planning
How should the everyday person begin to approach post-Special Account retirement planning? Samuel Rhee, co-founder and chairman of Endowus weighs in.
2 hours ago
EV maker Lotus Tech closes up modestly in Nasdaq debut after SPAC merger
NEW YORK : Shares of Lotus Technology closed up 2 per cent in their Nasdaq debut on Friday, recouping earlier losses, after the luxury electric car maker completed its merger with a blank-check acquisition company backed by private equity firm L Catterton.The American Depositary Shares, which began ...
2 hours ago
Upside of 10 Gbps fibre network upgrade for telcos difficult to quantify: analysts
Yong Jun Yuan - IT REMAINS to be seen if telcos will be able to see any immediate financial impact from the planned fibre network upgrade to provide 10 gigabit per second (Gbps) service to households, said analysts.
2 hours ago
EIA to temporarily suspend bitcoin miner survey after lawsuit -court document
NEW YORK : The U.S. Department of Energy has agreed to temporarily suspend its mandatory survey of cryptocurrency miner energy use following a lawsuit by prominent miner Riot Blockchain and an industry group, according to a notice filed on Friday with the United States District Court for the Western ...
3 hours ago
Judge approves Binance $4.3 billion guilty plea as US seeks to modify founder Zhao's bond
A U.S. judge on Friday accepted Binance's guilty plea and more than $4.3 billion penalty for violating federal anti-money laundering and sanctions laws through lapses in internal controls at the world's largest cryptocurrency exchange.U.S. District Judge Richard Jones in Seattle approved t ...
3 hours ago
Bezos, Nvidia join OpenAI in funding humanoid robot startup, Bloomberg reports
Amazon.com founder Jeff Bezos, Nvidia and other big technology names are investing in a startup Figure AI that works in developing human-like robots, Bloomberg News reported on Friday, citing people with knowledge of the situation.Figure AI, also backed by ChatGPT-maker OpenAI and Microsoft, is rais ...
3 hours ago
China's woes won't slow US economy, but excess capacity a concern, says Treasury's Adeyemo
:U.S. Deputy Treasury Secretary Wally Adeyemo said on Friday that he is concerned about China's excess manufacturing capacity spilling over to the global economy, even if China's current economic woes are unlikely to slow U.S. growth in the near term."I am not concerned about the head ...
3 hours ago
China's woes won't slow US economy, but excess capacity a concern-Treasury's Adeyemo
U.S. Deputy Treasury Secretary Wally Adeyemo said on Friday that China faces a number of economic challenges, including the property sector and an aging population, but he does not see major spillovers to the U.S. economy outside of China's excess manufacturing capacity."I am not concerned ...
7 hours ago
Barclays must face US shareholder lawsuit over $17.7 bln debt sale blunder
A US judge said Barclays must face part of a proposed class action by shareholders over the British bank’s sale of US$17.7 billion more debt than regulators had allowed.
7 hours ago
Manchester United’s Ratcliffe unveils electric Ineos car
MANCHESTER United’s new co-owner Jim Ratcliffe unveiled on Friday (Feb 23) his Ineos group’s latest 4x4 vehicle, which will come in two electric versions as the British billionaire criticised range limits on ‘green’ cars.
9 hours ago
Cheap mini-EVs sparkle in China’s smaller, poorer cities
TINY electric cars weave through traffic in southern China, their cheap and cheerful designs bringing a touch of colour to the EV revolution in the country’s overlooked cities.
9 hours ago
US: Wall St opens higher after scorching AI-led rally
WALL Street’s main indexes opened higher on Friday (Feb 23) after a stunning rally in the previous session, spurred by upbeat results from AI poster child Nvidia that renewed enthusiasm about artificial intelligence.
9 hours ago
Julius Baer suffered IT crash last week
ZURICH : Julius Baer suffered an outage that prevented customers and bankers from accessing its systems on Feb. 16, but quickly restored full service, the Swiss bank said on Friday in response to a report by Bloomberg.“Julius Baer confirms a temporary outage of IT systems on late Friday afternoon ...
9 hours ago
Nvidia hits $2 trillion valuation as AI frenzy grips Wall Street
Nvidia hit $2 trillion in market value on Friday, riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom.The milestone followed another bumper revenue forecast from the chip designer that drove up its market value by ...
9 hours ago
Nvidia hits US$2 trillion valuation as AI frenzy grips Wall Street
Nvidia hit US$2 trillion in market value on Friday (Feb 23), riding on an insatiable demand for its chips that made the Silicon Valley firm the pioneer of the generative artificial intelligence boom. The milestone followed another bumper revenue forecast from the chip designer that drove up its mark ...
9 hours ago
Airsculpt shares slide after Fuzzy Panda takes short position
:Shares of AirSculpt Technologies fell 30 per cent on Friday after Fuzzy Panda Research revealed a short position in the cosmetic surgery firm.Fuzzy Panda said its investigation revealed "multiple malpractice lawsuits". Reuters could not immediately verify Fuzzy Panda's claims.AirScul ...
9 hours ago
Apac Realty H2 profit down 31.4% to S$6.8 million
Daphne Yow - APAC Realty posted a 31.4 per cent drop in net profit to S$6.8 million for the six months ended Dec 31, 2023, from S$9.9 million in the corresponding period the year before.
10 hours ago
MGM Resorts says regulators probing September cyberattack
:MGM Resorts International disclosed that state and federal regulators were probing a cyberattack on its systems that took place in September and caused a $100 million hit to the company's third-quarter results. The casino operator intends to respond to the inquiries in due course, a regulatory ...
10 hours ago
MGM Resorts says state, federal regulators probing September cyberattack
MGM Resorts International said on Friday state and federal regulators were probing a cyberattack on its systems that took place in September, which shut down some of the company's operations.
10 hours ago
Taobao China Software to sell Suning.com stake to Alibaba affiliate
ALIBABA’S Taobao China Software will sell its 20 per cent stake in Chinese retailer Suning.com to another Alibaba affiliate, Hangzhou Haoyue Enterprise Management for 2.8 billion yuan (S$523 million), Suning.com said in a filing on Friday (Feb 23).
10 hours ago
No Signboard’s request for extension to hold AGM rejected by Acra and SGX
Raphael Lim - BOTH the Accounting and Corporate Regulatory Authority (Acra) and the Singapore Exchange (SGX) have rejected No Signboard Holdings’ application for an extension of time to hold its annual general meeting (AGM).
10 hours ago
Dollar on track for first weekly fall in 2024
THE US dollar was on track to record its first weekly fall in 2024 on Friday (Feb 23), as investors took a breather after almost two months of rises built on subsiding expectations for future Federal Reserve rate cuts.
10 hours ago
Hong Leong Finance records $93.4 mil earnings for FY2023
Bryan Wu - Hong Leong Finance Shas recorded earnings of $93.4 million for the FY2023 ended Dec 31, 2023, 28.7% lower compared to its earnings of $130.9 million in FY2022. Net interest income for FY2023 decreased 16.5% y-o-y to $202.2 million on an overall lower net interest margin of 1.5% for the full-year per ...
10 hours ago
STI's CNY rally takes breather, may move into trading range
Goola Warden - Ideally, support for the Straits Times Index is at the 3,180 to 3,183, around the 200-day moving average. The index ended the week of Feb 19-23 at 3,184. The 50- and 200-day moving averages have turned up after making a neutral to positive cross in early February. These slow-moving indicators should ...
11 hours ago
Hong Leong Finance H2 net profit falls 45% to S$46.8 million
Raphael Lim - HONG Leong Finance reported on Friday (Feb 23) a 45.4 per cent decline in net profit for the second half of 2023, on the back of lower net interest income.
11 hours ago
Deutsche Telekom sees 2024 profit up 6% on German, US growth
DEUTSCHE Telekom, Europe’s largest telecommunications operator, forecast its earnings this year will continue to grow after a strong 2023, boosted by growth in Germany and the US.
11 hours ago
Warner Bros Discovery misses quarterly revenue estimates
WARNER Bros Discovery fell short of Wall Street estimates for quarterly revenue on Friday (Feb 23), weighed down by the absence of blockbuster releases due to the lingering impact from the Hollywood strikes and a weak advertising market.
11 hours ago
Intraco Limited reverses into earnings for FY2023 due to partial recovery of a trade receivable; revenue declines 17.8%
Nicole Lim - Intraco Limited reverses into earnings for the FY2023 ended Dec 31, 2023, with a net profit of $3.2 million, compared to a net loss of $1.3 million from the same period a year before.  The group says that its reversal of $3.8 million in 2HFY2023 was due to partial recovery of a trade receivable, wh ...
11 hours ago
QAF profit rises 101% to S$22.6m in H2
Daphne Yow - MAINBOARD-LISTED QAF posted a 101 per cent rise in net profit to S$22.6 million for the second half of the year ended Dec 31, 2023, from S$11.2 million in the previous corresponding period.
11 hours ago
QAF H2 profit rises 101% to S$22.6 million on higher sales, joint venture contribution
Daphne Yow - MAINBOARD-LISTED QAF posted a 101 per cent rise in net profit to S$22.6 million for the second half of the year ended Dec 31, 2023, from S$11.2 million in the previous corresponding period.






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