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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58 minutes ago

Shorting volatility: Rising risks mean itchier trigger fingers

Leon Hadar - A long stretch of low volatility for U.S. stocks has made betting on continued calm a popular and lucrative trade, but traders and strategists warn that risks to the trade have mounted, while the potential for profits has shrunk.

2 hours ago

Seven countries seek UN council meeting on Myanmar

[UNITED NATIONS, United States] France, Britain, the United States and four other countries have asked the UN Security Council to meet next week to discuss the ongoing violence in Myanmar, according to a request seen by AFP on Friday.

2 hours ago

Brazil Supreme Court denies request to release JBS brothers

tdyadmin - 38 min 27 sec agoSAO PAULO - Brazil Supreme Court Justice Gilmar Mendes on Friday denied a request to

2 hours ago

Polls open in knife-edge New Zealand election

[WELLINGTON] Polls opened on Saturday in a cliffhanger New Zealand election pitting conservative Prime Minister Bill English against charismatic young rival Jacinda Ardern.

2 hours ago

Sri Lanka in talks with two Chinese firms for US$3b refinery

[COLOMBO] Sri Lanka is in talks with two Chinese companies about investing up to US$3 billion to build in a new refinery at its Chinese-controlled port, a top government official said on Friday.

2 hours ago

Oil rises nearly 1% as Opec defers extension of output cuts

[NEW YORK] Oil prices ended nearly 1 per cent higher on Friday, close to their highest levels in months, as major producers meeting in Vienna said they may wait until January before deciding whether to extend output curbs beyond the first quarter. "I believe that January is the earliest date w ...

3 hours ago

'Unfit' Uber stripped of London licence

Leon Hadar - London deemed Uber unfit to run a taxi service on Friday and stripped it of its licence to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world's wealthiest cities.

3 hours ago

Macron 'inflexible' on opposition to Nokia job cuts

[PARIS] French President Emmanuel Macron on Friday told Finnish Prime Minister Juha Sipila of his "total inflexibility" to plans by telecoms giant Nokia to cut nearly 600 jobs in France.

3 hours ago

US: Stocks little change as Trump, Kim exchange threats

[NEW YORK] Wall Street stocks finished a choppy day little changed as investors weighed how seriously to take increasingly heated rhetoric between US President Donald Trump and North Korea's Kim Jong Un.

3 hours ago

London: Stocks bounce on weaker pound

[NEW YORK] British stocks bounced Friday on a decline in sterling as global equity markets grappled with how seriously to take increasingly heated rhetoric between US President Donald Trump and North Korea's Kim Jong-Un.

3 hours ago

Britain's May calls for post-Brexit transition in single market

Leon Hadar - FLORENCE, Italy: Prime Minister Theresa May set out a plan on Friday (Sep 22) to retain full access to the EU's single market for two years after Brexit to try to reassure business and reset the tone of stalled negotiations with Brussels. But her proposals for such a transition, for meeting ...

3 hours ago

Moody's downgrades Britain debt rating on Brexit uncertainties

Leon Hadar - Moody's cut Britain's long-term credit rating Friday, citing economic uncertainty sparked by complex Brexit negotiations and the likelihood of weaker public finances.

3 hours ago

Zuckerberg nixes new Facebook share class after shareholder lawsuit

Leon Hadar - Facebook Inc's trial over a shareholder lawsuit opposing the company's stock reclassification has been canceled, according to a clerk in Delaware's Court of Chancery.

3 hours ago

Investor group seeks probe into SEC hack, urges data rules delay

tdyadmin - 29 min 53 sec agoWASHINGTON - A global investor group on Friday called for an independent investigatio

4 hours ago

BMW to build new 8 series at German Dingolfing plant from 2018

tdyadmin - 23 min 47 sec agoBERLIN - Carmaker BMW <BMWG.DE> plans to build its new 8 series model a

4 hours ago

McCain torpedos Republican effort to repeal Obamacare

[WASHINGTON] US Senator John McCain on Friday announced his opposition to the latest Republican attempt to replace Barack Obama's signature health care law, likely dooming the repeal effort.

4 hours ago

Ex-Akebia employee suspected of insider trading re-arrested

tdyadmin - 57 min 59 sec agoBOSTON - A former Akebia Therapeutics Inc <AKBA.O> employee accused of

4 hours ago

Grounded and going nowhere

Anna Teo - Big storms - both environmental and political - continued to barrel across the world. Mexico suffered a second major earthquake in a month on Tuesday, and Hurricane Maria lashed the Caribbean, wreaking devastation on the islands.

4 hours ago

Shaanxi province probes banks for illegal lending to real estate

THE banking regulator of China's north-western province of Shaanxi has ordered inspections of local banks to better gauge financial risks from illegal lending to the real estate sector, two banking sources said on Friday.

4 hours ago

Cromwell Reit IPO called off

Anita Gabriel - THE sizeable S$1.2 billion initial public offering of the first euro-denominated real estate trust on the Singapore Exchange is not happening.

4 hours ago

SingHaiyi-led group bags tender for Sun Rosier for S$271m

Claire Huang - FOUR weeks after the owners of Sun Rosier condominium along How Sun Drive put up their freehold site for en bloc sale, a SingHaiyi-led group has won the tender for S$271 million, higher than the asking price.

4 hours ago

Australia's Fairfax Media to float lucrative property ad arm

FAIRFAX Media's shareholders are set to vote on spinning off its lucrative property advertising division, the Australian publishing giant said Friday.

4 hours ago

Move in or pay up, mate: Australia slaps tax on 'ghost homes'

ON a wet, midweek evening when most Australians are home cooking dinner, less than a third of the lights are on in the apartments in Melbourne's Docklands. Most shops and restaurants are closed. The only people passing through seem to be on their way elsewhere.

4 hours ago

Perennial CEO 'not disappointed' offer for UEL did not go through

Lee Meixian - PERENNIAL Real Estate Holdings chief executive Pua Seck Guan said he is "not disappointed" that the Yanlord-Perennial consortium's offer for United Engineers (UEL) did not go through, as it was never its intent to gain full ownership of the target company to begin with.

4 hours ago

London's pricey homes push more into mortgages

MORE home buyers are resorting to mortgages to purchase London's most expensive houses and apartments as rising prices drag them into higher tax brackets.

4 hours ago

China's postal savings bank raising US$7.25b via preferred shares

POSTAL Savings Bank of China Co (PSBC) is raising US$7.25 billion through an issue of preferred shares to shore up its capital buffer and boost lending, becoming the latest Chinese bank to raise funds through the hybrid securities.

4 hours ago

YCH leaping into the future with Supply Chain City

Lee U-Wen - WHEN Robert Yap, executive chairman of Singapore logistics giant YCH Group, received a notice several years ago that his company had to vacate its Tuas premises to make way for an MRT extension, he was so stressed that he couldn't sleep for three nights in a row.

4 hours ago

Minimum interest rates for CPF SMRA accounts stay at 4%

Claire Huang - CENTRAL Provident Fund (CPF) members will continue to benefit from the government's decision to extend the 4 per cent minimum interest rate earned on all Special, Medisave and Retirement Account (SMRA) monies for one year until end-December 2018.

4 hours ago

May proposes 2-year transition period after Brexit

PRIME Minister Theresa May on Friday proposed a two-year transition period for Britain after it leaves the European Union (EU), suggesting that the UK would continue to "honour its commitments" under the bloc's current budget.

4 hours ago

Will new Fed leaders solve Yellen's mystery of the missing inflation?

FEDERAL Reserve Chair Janet Yellen's inflation strategy may have a shelf life of about four months. After that, a gang of newcomers might have to decide what to do next.

4 hours ago

Brokers' take

CAPITALAND Commercial Trust announced that it has agreed to acquire Asia Square Tower 2, a Grade A commercial building in Marina Bay from BlackRock for S$2.12 billion. The agreed property value of S$2.09 billion or S$2,689 per square foot, is slightly below its valuation of S$2.11 billion and is co ...

4 hours ago

Banks prop up Friday's weak session, STI up 0.3% for the week

R Sivanithy - ON paper, the key event this week was the US Federal Reserve's Open Market Committee meeting held over Tuesday and Wednesday. Although no interest rate hike was expected, the market was waiting for information on two fronts - the Fed's "dot plot", which provides an insight into ...

4 hours ago

Olam sells farmland assets to American firm for US$110m

Lee Meixian - OLAM International said on Friday it has sold 5,100 acres (2,060 hectares) of its farmland assets to Farmland Partners Inc (FPI), a listed US farmland real estate investment trust, for US$110 million in cash. Olam has also entered into a revenue-sharing model with FPI for its edible nuts orchards i ...

4 hours ago

Using data to win the race

Jacquelyn Cheok - CAN data win you an auto race? Mercedes certainly thinks so. For evidence, just look at their collaboration with flash storage company Pure Storage, and their double wins at the Singapore Grand Prix last Sunday.

4 hours ago

Apple's latest crop doesn't quite hit the spot

DESPITE the strength of its brand, Apple Inc occasionally releases a product to mediocre reviews - remember the original Apple TV or Apple Watch? But reviewers have rarely been as  grumpy as this month, when Apple unveiled its collection of new gadgets for the holidays.

4 hours ago

Facebook's Frankenstein moment

Kevin Roose - ON Wednesday, in response to a ProPublica report that Facebook enabled advertisers to target users with offensive terms such as "Jew hater", Sheryl Sandberg, the company's chief operating officer, apologised and vowed that the company would adjust its ad-buying tools to prevent simil ...