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

Toshiba board to meet Wednesday, weigh offers for chip unit: source

Toshiba Corp's board is set to meet on Wednesday to weigh three offers for its chip unit, including bids from Western Digital and Taiwan's Foxconn in addition to one by a consortium which was previously a clear favorite, a source familiar with the matter said.

34 minutes ago

McDonald's, Caterpillar power S&P to record

The S&P and the Dow looked set to open higher on Tuesday, helped by strong earnings from Caterpillar and McDonald's, but Google-parent Alphabet may weigh on the tech-heavy Nasdaq.

34 minutes ago

Investors unhappy as Alphabet shells out more to drive traffic

There are very few things that make Alphabet Inc's investors unhappy. A rising TAC - the cost of driving traffic to its site - is one of them.

54 minutes ago

Norwegian Air under pressure to boost finances

Norwegian Air , the fast-growing budget airline trying to crack the transatlantic market by undercutting established rivals, faces mounting pressure to control costs and shore up its balance sheet to weather fierce competition.

1 hour ago

Chew's Group controlling shareholder in talks over possible share transaction

Navin Sregantan - CATALIST-LISTED Chew's Group on Tuesday announced that the controlling shareholder of the company is in discussions with third parties involving a possible transaction of shares in the company.

1 hour ago

Caterpillar, McDonald's to lift S&P, Dow at open

The S&P and the Dow looked set to open higher on Tuesday, helped by strong earnings from Caterpillar and McDonald's, but Google-parent Alphabet may weigh on the tech-heavy Nasdaq.

1 hour ago

Daimler board to discuss alleged German auto cartel: sources

Daimler's supervisory board will meet on Wednesday to discuss allegations that German carmakers were involved in anti-competitive behavior, sources familiar with the matter said on Tuesday.

1 hour ago

Sri Lanka finalises US$1.12 billion port deal with China

Sri Lanka's government Tuesday approved the sale to China of a majority stake in a loss-making but strategically-sited deep sea port for more than a billion dollars, the ports minister said.

1 hour ago

US home prices for May rise slower than expected

U.S. single-family home prices accelerated at a slower pace in April, falling short of forecasts, a survey showed on Tuesday.

2 hours ago

McDonald's US same-restaurant sales beat estimates

McDonald's Corp on Tuesday reported a better-than-expected increase in quarterly sales at established U.S. restaurants, helped by promotions on beverages as well as the launch of signature crafted sandwiches.

2 hours ago

Great Eastern sees rapid growth in Indonesia; initiates digital strategy

Goola Warden - SINGAPORE (July 25): Great Eastern Holdings, the largest insurer in Singapore and Malaysia by market share, has been growing quickly in Indonesia, albeit from a low base. See also: Great Eastern 2Q17 earnings surge 2.7 times to $279.5 mil Its total weighted new sales (TWNS) from Indonesia for 1HFY20 ...

2 hours ago

GM profit beats Wall St estimates, promises to cut inventory

General Motors Co on Tuesday reported a lower quarterly net profit from continuing operations due to lower vehicle sales and restructuring charges, but results beat Wall Street expectations.

2 hours ago

Biogen raises 2017 forecast on Spinraza success

U.S. drugmaker Biogen Inc reported a 6.4 percent rise in quarterly revenue, driven by strong demand for its recently approved spinal muscular atrophy drug, Spinraza.

2 hours ago

Citigroup hosts investors for first time since the financial crisis

For the first time since receiving three government bailouts during the 2007-2009 financial crisis, Citigroup Inc on Tuesday is holding a day-long conference for investors, marking another step in the recovery of what was once the biggest U.S. bank.

2 hours ago

Mapletree Industrial's Q1 DPU rises to 2.92 Singapore cents

Navin Sregantan - REVENUE contribution from Phase One of the build-to-suit development for Hewlett-Packard Singapore gave a lift to industrial landlord Mapletree Industrial Trust's (MIT) first quarter results.

2 hours ago

Caterpillar beats estimates, bumps up forecast

Caterpillar Inc reported quarterly profit and revenue that handily beat estimates, helped by strong demand for its construction equipment in China, and the company raised its outlook for the year, sending its shares up 5 percent.

3 hours ago

Vard slides further into the red for Q2

Wong Kai Yi - YARD operating group, Vard Holdings, slipped deeper into the red mainly due to negative financial items and losses in associated ship-owning entities.

3 hours ago

General Motors quarterly profit falls

General Motors Co on Tuesday reported a lower quarterly net profit from continuing operations due to lower vehicle sales and restructuring charges, but results beat Wall Street expectations.

3 hours ago

Mapletree Industrial Trust posts 2.5% increase in 1Q DPU to 2.92 cents

Samantha Chiew - SINGAPORE (July 25): Mapletree Industrial Trust Management, the manager of Mapletree Industrial Trust (MIT), has declared a DPU of 2.92 cents for 1QFY17/18 ended June, a 2.5% increase from the previous year when it reported a DPU of 2.85 cents. Distributable income also increased 2.7% in 1QFY17/18 t ...

3 hours ago

Activist investor urges sale of Barnes & Noble

REUTERS: Activist investor Sandell Asset Management Corp on Tuesday urged U.S. bookstore chain operator Barnes & Noble Inc to sell itself. Sandell, which said it had accumulated a "meaningful" stake in Barnes & Noble, said the company could fetch a price of US$12 per share or possibly higher in a .. ...

3 hours ago

Citic Envirotech profit down 7.8%

Vivien Shiao - MAINBOARD-LISTED Citic Envirotech's net profit fell 7.8 per cent to S$21 million for its second quarter ended June 30 compared to the same period a year ago.

3 hours ago

Frasers Centrepoint says Northpoint City on track for soft launch in 4Q

Samantha Chiew - SINGAPORE (July 25): Frasers Centrepoint Singapore, the strategic business unit of SGX-listed Frasers Centrepoint Limited, has announced that mega development Northpoint City will open its doors to shoppers in the fourth quarter this year. In a press release on Tuesday, Frasers Centerpoint says the ...

3 hours ago

Uber ties up with AXA for drivers' accident cover in France

Uber and insurance group AXA on Tuesday announced a partnership to offer accident cover for drivers who work for the ride hailing service in France.

3 hours ago

Biogen profit smashes estimates on Spinraza demand

U.S. drugmaker Biogen Inc reported a 6.4 percent rise in quarterly revenue, driven by strong demand for its recently approved spinal muscular atrophy drug, Spinraza.

4 hours ago

Singapore: OLS Enterprise acquisition; Fundnel-ThincLab pact; Everex seed round

Shiwen Yap - OLD Enterprise acquires a firm, Fundnel partners ThincLab and Everex raises a seed round. The post Singapore: OLS Enterprise acquisition; Fundnel-ThincLab pact; Everex seed round appeared first on DealStreetAsia.

4 hours ago

Biogen revenue rises 6.4 percent on Spinraza demand

U.S. drugmaker Biogen Inc reported a 6.4 percent rise in quarterly revenue, driven by strong demand for its recently approved spinal muscular atrophy drug, Spinraza.

4 hours ago

Brushing off bank worries, HNA taps Goldman for unit Pactera's IPO: sources

HONG KONG: HNA Group, the Chinese airline-to-banking conglomerate, has tapped investment bank Goldman Sachs to list Pactera, the Beijing-based IT outsourcing firm it bought from private equity firm Blackstone, sources familiar with the matter said. The mandate for the U.S. initial public offering .. ...

4 hours ago

Phase 1 of Vibrant’s debut industrial development in China 92% leased out

PC Lee - SINGAPORE (July 25): Vibrant Group says 80% subsidiary Fervent Industrial Development (Suzhou) Co. has secured substantial leases in its debut industrial development in China. As of Tuesday, 92% of 58,024 sqm available factory space in Phase 1 of Fervent High Tech Industrial Park located in Changshu ...

4 hours ago

MTQ 1Q losses widen to $3 mil on lower subsea activities at Neptune

Samantha Chiew - SINGAPORE (July 25): MTQ, the regional engineering, maintenance and subsea services group, reported 1Q18 net loss widened to $3 million from $2.2 million a year ago. Revenue fell 12% to $30.5 million revenue from a year ago. This was due to lower activity in the Neptune segment. Coupled with continu ...

4 hours ago

Greece returns to debt markets after three-year hiatus

Greece returned to the debt markets for the first time in three years on Tuesday, with reports saying it was on track to raise funds at a lower cost, marking a symbolic victory for the beleaguered eurozone nation.

4 hours ago

SIA Engineering Q1 profit nosedives 81.8% to S$36.2m on absence of divestments

Navin Sregantan - FIRST-QUARTER net profit for SIA Engineering Company (SIAEC) plunged 81.8 per cent to S$36.2 million, from S$198.4 million in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

4 hours ago

Airlines will need 637,000 new pilots over next 20 years: Boeing

NEW YORK: Airlines will need 637,000 new pilots over the next 20 years to keep pace with the growth of global air traffic, Boeing reported on Tuesday (Jul 25) in an annual report on the subject. Its latest estimate of the pilot requirements is up 3.6 per cent from last year's report. Airlines in ...

4 hours ago

ST Engineering sets up US$150m corporate venture capital unit, opens innovation lab

Lee Meixian - ST Engineering on Tuesday said it has set up a corporate venture capital unit to invest in promising technology startups and early-stage companies, offering not just funding, but also access to the group's business network and distribution channels.

4 hours ago

DuPont posts 15.5 percent fall in second-quarter profit

Chemicals and seeds company DuPont , which is merging with Dow Chemical , reported a 15.5 percent fall in quarterly profit on higher costs.

4 hours ago

Prospect of Trump tariff casts pall over US solar industry

U.S. solar companies are snapping up cheap imported solar panels ahead of a trade decision by the Trump administration that could drive up costs and cloud the fortunes of one of the economy's brightest stars.

4 hours ago

CITIC Envirotech 2Q earnings fall 7.8% to $21 mil on lower revenue

Jude Chan - SINGAPORE (July 25): CITIC Envirotech posted a 7.8% drop in 2Q earnings ended June to $21 million, from $22.8 million a year ago. Revenue in 2Q slipped 4.0% to $134.4 million, from $140.0 million a year ago. The decline was mainly due to a 46.7% decrease in revenue from its membrane business to $9.0 ...