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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41 minutes ago
Fed modifying asset cap so Wells Fargo can make more small business loans
The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
41 minutes ago
US Justice Department backs Google request to use part of US-Asia undersea cable
Rachel Chia - The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc's request to use part of an U.S.-Asia undersea telecommunications cable.
50 minutes ago
Wall Street climbs on hopes of outbreak peaking, Sanders suspending White House bid
Rachel Chia - Wall Street rose on Wednesday on hopes the coronavirus outbreak in the United States was close to its peak, with health insurers boosted by Democratic presidential candidate Bernie Sanders suspending his campaign.
50 minutes ago
Dow Jones CEO Will Lewis to step down: FT
Rachel Chia - The chief executive officer of News Corp owned Dow Jones, Will Lewis, is stepping down, according to a report by Financial Times on Wednesday, citing people familiar with the matter.
1 hour ago
Centerview turns to Matthieu Pigasse to lead new Paris hub
Rachel Chia - U.S. investment bank Centerview has hired Lazard's former France boss, Matthieu Pigasse, to lead its newly-launched Paris office and win business from European companies grappling with the economic damage caused by the coronavirus outbreak.
1 hour ago
Coronavirus plunges world economy into brutal recession
Rachel Chia - PARIS: Measures imposed to slow the spread of the coronavirus are pushing the world economy into a recession deeper and more painful than initially expected, even if a rebound is still on the cards for next year. A week before the International Monetary Fund updates its forecasts for the global ...
1 hour ago
Toyota extends North American plant shutdown; will stop paying 5,000 temp workers
Rachel Chia - Toyota Motor Corp said Wednesday it plans to reopen its North American auto plants on May 4, extending its current shutdown by two additional weeks.
1 hour ago
Norwegian Air seeks US$4.3 billion debt-for-equity deal as crisis deepens
Rachel Chia - Norwegian Air plans to convert up to US$4.3 billion of its debt into equity and to issue new shares as it seeks to stay in business following the COVID-19 outbreak that has grounded almost all of its fleet, the budget carrier said on Wednesday.
2 hours ago
Lufthansa's Austrian unit negotiates state aid, job cuts
Austrian Airlines is in negotiations with the government regarding state aid to save jobs and keep Vienna as a transfer hub for long-haul flights, the carrier said on Wednesday, adding the talks were at an early stage and will probably take weeks.
2 hours ago
Airbus cuts jet production to cope with coronavirus crisis
Rachel Chia - Airbus on Wednesday cut production across the board to absorb the hit to manufacturing from the coronavirus crisis.
2 hours ago
21 HDB blocks in Redhill Close to house healthy foreign workers relocated from dorms
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2 hours ago
Walmart's Mexico unit hires over 7,700 employees to manage higher demand
Rachel Chia - Walmart de Mexico, known locally as Walmex , has hired 7,741 employees to manage higher volume and demand at its stores, the retailer said in a statement on Wednesday
2 hours ago
More TV programmes, support for telcos among initiatives to help Singapore residents during 'circuit breaker' period
SINGAPORE: To help Singapore residents through their efforts to stay home in a bid to curb the spread of COVID-19, a series of media and digital-related initiatives was announced on Wednesday (Apr 8). These include providing more content for viewers on free-to-air channels, as well as on Singtel ...
2 hours ago
Coming next from the Fed: How much for Main Street?
Rachel Chia - The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
3 hours ago
Some S’poreans stranded, forced to move into half-finished homes as renovations are disallowed, extensions granted only till April 9
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3 hours ago
Covid-19: People caught gathering in public will be issued warning letters immediately, says Masagos
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3 hours ago
Nordstrom temporarily shutters headquarters on coronavirus fears
Rachel Chia - Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
3 hours ago
Ferrari to pilot employee screening for coronavirus: Elkann
Luxury group Ferrari will pilot a project to conduct voluntary screening of employees and their families to better fight the novel coronavirus outbreak, the head of holding group Exor , which controls the supercarmaker, said on Wednesday.
3 hours ago
JetBlue seeks government permission to suspend flying at some airports as demand drops
JetBlue Airways Corp said on Wednesday it is consolidating flights in five U.S. metropolitan areas into just one or two airports and also asking the U.S. Department of Transportation to exempt it from flying at other airports where current demand does not support its service.
3 hours ago
Exclusive: Venezuela gasoline shortages worsen as US tells firms to avoid supply - sources
Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.
3 hours ago
Wobbly US fiscal response could deepen coronavirus recession
The U.S. government's massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don't-sweat-the-details flood of cash to people and businesses in a US$22 trillion system that has ground to a halt.
3 hours ago
Covid-19: 32-year-old long-term pass holder dies while waiting for swab test result
asyrafkamil -
3 hours ago
HG Metal gets approval to continue on-site operations
Claudia Chong - HG METAL Manufacturing's wholly-owned subsidiary HG Construction Steel has received approval from the Ministry of Trade and Industry to be exempted from the Suspension of Workplace Activities order that will last till May 4.
3 hours ago
HSBC reports potential money laundering breaches in Australia
Rachel Chia - LONDON: HSBC has reported itself to Australia's financial regulator for possible breaches of anti-money laundering rules, the bank disclosed in a regulatory filing by its Australian subsidiary. The breaches involved small amounts of cross-border foreign currency transactions involving non-banking .. ...
4 hours ago
Hyflux applies to postpone scheme meetings, extend moratorium due to COVID-19 safe distancing rules
Rachel Mui - SINGAPORE: Embattled Hyflux said on Wednesday (Apr 8) that it has applied to the Singapore High Court to postpone its scheme meetings scheduled this month, due to the heightened safe distancing measures put in place by local authorities to combat COVID-19. It is also seeking a three-month ...
4 hours ago
Corona beer maker Constellation to reduce production in Mexico during pandemic
Constellation Brands Inc , the U.S. distributor of Corona beer, said on Wednesday it would reduce production at its Mexican breweries, just days after it announced they were fully operational.
4 hours ago
10 shops providing non-essential services warned over staying open during ‘circuit breaker’ period, instructed to close
asyrafkamil -
4 hours ago
Hyflux asks for postponement of scheme meetings, extension of moratorium
Claudia Chong - HYFLUX on Tuesday filed urgent applications in the High Court to postpone the scheme meetings scheduled to take place on April 22 and 23, in view of the enhanced measures by the Singapore government to battle the Covid-19 outbreak.
4 hours ago
New S$30 million grant to help Singapore farms speed up production of eggs, vegetables and fish
SINGAPORE: The agri-food industry will receive a S$30 million boost to speed up the production of commonly consumed food items like eggs, vegetables and fish.  Called the 30x30 Express grant, it is aimed at further strengthening Singapore's food security, as part of its goal of meeting 30 per ...
4 hours ago
China Haida looking into the freezing of two bank accounts of its subsidiary after interim court order
Claudia Chong - Mainboard-listed China Haida said in a statement on Wednesday that it has come to its attention that two bank accounts of its wholly-owned subsidiary, Jiangyin Litai Ornamental Materials Co, have been frozen following an interim court order issued by a Sichuan court. A third bank account has been r ...
4 hours ago
Parents hunt for laptops, deal with distracted kids on first day of ongoing home-based learning
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4 hours ago
Grab forced to close centre after crowd forms to collect food delivery bags amid COVID-19 measures
Fiona Lam - SINGAPORE: Ride-hailing firm Grab was forced to close one of its offices on Wednesday (Apr 8) after a large number of drivers turned up to collect food delivery gear, on the second day of “circuit breaker” measures aimed at stopping the spread of COVID-19.  Photos and videos circulating on soc ...
4 hours ago
Global trade will plunge by up to a third in 2020 amid pandemic: WTO
Fiona Lam - Global trade growth is expected to plummet by up to a third in 2020 due to the coronavirus pandemic, the World Trade Organization said Wednesday, warning that the numbers would be "ugly".
4 hours ago
Zoom hires former Facebook security chief to beef up privacy, safety
Zoom Video Communications Inc has hired former Facebook security chief Alex Stamos as an adviser and formed an advisory board to improve the video conferencing app's privacy and security issues amid a global backlash against the platform.
4 hours ago
GM to supply 30,000 ventilators in US$500 million US contract
The United States on Wednesday awarded automaker General Motors Co a contract worth US$489.4 million to make ventilators needed to treat severely sick coronavirus patients.
5 hours ago
German foreign ministry restricts use of Zoom over security concerns: report
The German foreign ministry has restricted use of the video conferencing service Zoom, saying in an internal memo to employees that security and data protection weaknesses made it too risky to use, newspaper Handelsblatt reported on Wednesday.






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