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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29 minutes ago

Big in China and tiny in the US, Fast Retailing seen weathering pandemic

Marissa Lee - The coronavirus pandemic is shredding the global apparel industry, stripping hundreds of billions of dollars from sales and thrusting big names like J.Crew into bankruptcy protection.

39 minutes ago

Google faces US$5 billion lawsuit in US for tracking 'private' internet use

Marissa Lee - REUTERS: Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers set in "private" mode. The lawsuit seeks at least US$5 billion, accusing the ...

54 minutes ago

After Facebook staff walkout, Zuckerberg defends no action on Trump posts

A Facebook employee said company leaders holding an all-hands meeting on Tuesday had so far failed to address concerns of staff who walked away from their desks to protest Chief Executive Mark Zuckerberg's handling of inflammatory posts by U.S. President Donald Trump.

2 hours ago

Commentary: The future economy has arrived. It’s mostly digital and contact-free

Marissa Lee - The coronavirus pandemic has accelerated trends in the Fourth Industrial Revolution, says Orange Business’ Nick Lambert.

2 hours ago

Google is sued in US for tracking users' 'private' internet browsing

Marissa Lee - Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by tracking their internet use from browsers set in "private" browsing mode.

2 hours ago

Rental fleet collapse drags down US vehicle sales

The collapse in demand for new vehicles from U.S. rental car fleets hit automakers hard in May, even as consumer sales were stronger than expected as coronavirus stay-at-home orders began to ease.

2 hours ago

Zoom doubles forecast for full-year revenue on remote-work boost

REUTERS: Zoom Video Communications Inc nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online during coronavirus lockdowns. Shares of the San Jose, California-based company rose nearly 5per cent in ...

2 hours ago

WeWork regional MD leaves; firm names new Pacific MD

Sharanya Pillai - TUROCHAS "T" Fuad, the managing director (MD) of WeWork South-east Asia and Korea, has left the company to pursue other interests, he announced in a LinkedIn post late Monday evening.

2 hours ago

XA Network partners Vertex, invests in fund

Claudia Chong - XA NETWORK, an angel investment circle made up of executives from global tech firms, has struck up a strategic partnership with Vertex Ventures and invested in Vertex's fourth South-east Asia and India fund, which closed at a record US$305 million.

2 hours ago

Singapore shares soar on optimism over reopening of economies

Claudia Tan - SINGAPORE shares ended the day higher on Tuesday, with the Straits Times Index (STI) advancing 2.4 per cent or 60.77 points to 2,611.63.

2 hours ago

Axington tops offer price in intra-day trade

Rachel Mui - SHARES in Catalist-listed Axington, formerly known as Axcelasia, rose as high as 21.5 Singapore cents on Tuesday, above Dorr Global Healthcare International's offer price of 20.8 Singapore cents.

2 hours ago

ComfortDelGro cabbies to deliver medicine in new tie-up

Vivienne Tay - COMFORTDELGRO Taxi has tied up with ALPS, the supply chain arm of Singapore's public healthcare system, to allow its cabbies to deliver essential medicines.

2 hours ago

CSE Global net profit rises 23.1% in Q1

Marissa Lee - CSE Global has posted a net profit of S$7.1 million in the first quarter, up 23.1 per cent from the same period a year earlier on higher takings from the Americas and the Asia-Pacific regions.

2 hours ago

United Hampshire US Reit collected 77% of base rents from retail tenants in May

Vivienne Tay - UNITED Hampshire US Real Estate Investment Trust (United Hampshire US Reit) has collected around 77 per cent of base rents from retail tenants for the month of May and 82 per cent for April.

2 hours ago

SGX to launch 10 Singapore single stock futures on June 15

Rachel Chia - THE Singapore Exchange (SGX) will launch 10 Singapore Single Stock Futures (SSFs) on June 15 in response to growing demand for a broader suite of Singapore-linked equities products, it said on Tuesday.

2 hours ago

Aerospace firms get some reprieve but the fight's not over yet

Nisha Ramchandani - THANKS to the enhanced Jobs Support Scheme (JSS), companies such as ST Engineering and SIA Engineering Company (SIAEC) will receive millions in additional wage support to cushion the devastating blow that Covid-19 has dealt the aerospace industry. The shot in the arm will aid an important sector, b ...

2 hours ago

Great Eastern offering 1,000 jobs, places for interns and trainees

Rachel Chia - GREAT Eastern Holdings is offering vacancies, traineeships and internships to give job seekers, graduates and students opportunities amid the economic and employment uncertainty brought about by Covid-19, it said on Tuesday.

2 hours ago

Ardian raises US$19b for private equity secondaries platform

Genevieve Cua - PRIVATE investment firm Ardian has raised US$19 billion worth of commitments from investors globally for its eighth-generation private equity (PE) secondaries platform, which it says is the world's largest.

2 hours ago

CAD, MAS and Acra launch joint probe into Hyflux and its directors

Marissa Lee - HYFLUX and its current and former directors are under investigation by the authorities for suspected false and misleading statements and breaches of disclosure rules that may have taken place over a period of years.

2 hours ago

The heart of finance: Social bonds as a way to improve the world

Chaoni Huang - A NEW type of financing has the potential to improve the lives of some of the world's poorest people

2 hours ago

Non-resident deposits in Singapore jump 44% to record S$62b in April

Vivien Shiao - SINGAPORE saw a record jump in deposits in April as investors rushed to park funds here given its status as a safe haven amidst global market volatility, said analysts.

2 hours ago

Architects and engineers suggest possible new ideas for future dormitories

Tay Suan Chiang - A NEW set of standards for new Quick Build Dormitories which include no more than 10 beds in a room, at least 6 sqm of space per resident and the use of single rather than double-decker beds was announced at a Covid-19 Multi-Ministry Task Force virtual press conference on Monday.

2 hours ago

SICCI sets up Covid-19 task force to provide crisis support for SMEs

Leila Lai - THE board of the Singapore Indian Chamber of Commerce and Industry (SICCI), which began a new two-year term in the middle of a global pandemic, is prioritising aid for small and medium-sized enterprises (SMEs) to help them survive the crisis.

2 hours ago

Saudi group tipped as buyer of ex-Chevron House retail, banking units

Kalpana Rashiwala - AN ENTITY linked to Saudi Arabia-based Olayan Group is understood to be the party that entered into an expression of interest (EOI) last month to buy the retail podium and the three lowest office floors at 30 Raffles Place, formerly known as Chevron House, for S$315 million.

2 hours ago

To beat ABSD, 38 Jervois developer launches fire sale to clear units

Siow Li Sen - THE developer of 38 Jervois has launched a fire sale slashing prices by up to S$547,320 so that it will not incur the Additional Buyer's Stamp Duty (ABSD).

2 hours ago

Twitter names ex-Google CFO Patrick Pichette chairman

Kelly Ng - Twitter Inc said on Tuesday that it appointed Patrick Pichette, former chief financial officer at Google, as chairman, replacing Omid Kordestani.

2 hours ago

Tech advocacy group's lawsuit says Trump's order on social media is unconstitutional

The Washington-based Center for Democracy and Technology filed a lawsuit on Tuesday against U.S. President Donald Trump's executive order on social media, arguing it violates the First Amendment.

2 hours ago

Lyft says May rides jump 26per cent from prior month

Ride-hailing firm Lyft Inc said on Tuesday that rides on its platform rose 26per cent in May from the previous month, with strong growth from cities where coronavirus-induced restrictions have been eased.

2 hours ago

US FAA chief to testify at Senate hearing on Boeing 737 MAX

Kelly Ng - Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.

2 hours ago

Zoom earnings soar as video meets become pandemic norm

Kelly Ng - SAN FRANCISCO: Zoom on Tuesday (Jun 2) reported that its earnings soared as its video-meeting service became a popular way to work or socialise while hunkered down due to the pandemic. Zoom said it made a profit of US$27 million on revenue that leapt 169 per cent to slightly more than US$328 ...

3 hours ago

LVMH's takeover of Tiffany seen as uncertain: WWD

Kelly Ng - French luxury goods group LVMH's board called a meeting in Paris to discuss its US$16.2-billion offer for Tiffany & Co amid a deteriorating situation in the U.S. market, fashion trade publication WWD reported https://wwd.com/business-news/mergers-acquisitions/lvmh-tiffany-deal-seen-as-uncertain ...

3 hours ago

US stocks close higher again despite widespread protests

Kelly Ng - NEW YORK: Wall Street stocks continued to advance on Tuesday (Jun 2), ending solidly higher as investors focused on the boost from stimulus measures and economic reopening more than the mass protests seeping through US cities. The Dow Jones Industrial Average finished with a gain of 267.63 points . ...

3 hours ago

FAA chief to testify at June 17 Senate hearing on Boeing 737 MAX

Kelly Ng - Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.

3 hours ago

Twitter names Patrick Pichette as chair of board

Kelly Ng - Twitter Inc said on Tuesday that it appointed Patrick Pichette as chair of the social network's board of directors, replacing Omid Kordestani.

3 hours ago

Zoom doubles full-year revenue forecast on remote-work boost

Kelly Ng - Zoom Video Communications Inc raised its full-year revenue forecast on Tuesday, riding on a surge in usage of its video conferencing platform as people turn to virtual meetings to stay connected and work remotely amid broader stay-at-home measures.

3 hours ago

GM should emerge from pandemic with permanently lower costs: CEO

Kelly Ng - General Motors Co should emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday.