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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52 minutes ago

Levi Strauss warns of weak second half on pandemic woes, to cut 700 jobs

Olivia Poh - Levi Strauss & Co on Tuesday cautioned its business would be hit in the second half of the year, even as the denim apparel maker's sales have been improving at its reopened stores, following government-mandated COVID-19 lockdowns.

1 hour ago

STI takes a breather; snaps 5-day winning streak

Anita Gabriel - SINGAPORE shares closed lower on Tuesday, snapping a five-day winning streak with the Straits Times Index (STI) losing 28.19 points or 1.05 per cent to finish at 2,661.42.

1 hour ago

GS Holdings looks to scrub out cleaning, dishwashing business

Vivienne Tay - GS HOLDINGS is proposing to sell two wholly-owned subsidiaries for S$2, in a move that will take the company another step further from its dishwashing roots, but a step closer to focusing on newer business lines.

1 hour ago

Teo Tong Lim's family office, Roxy-Pacific to acquire Melbourne office tower for A$145m

Fiona Lam - MAINBOARD-LISTED property developer Roxy-Pacific Holdings and the private family office of Teo Tong Lim have joined hands to acquire a Melbourne office building for A$145 million (S$140.8 million).

1 hour ago

Temasek JV Reefknot eyes at least 3 more investments

Angela Tan - REEFKNOT Investments, a 50:50 joint venture between Singapore's state investment firm Temasek Holdings and Swiss transport and logistics giant Kuehne + Nagel (K&N), is looking to invest in at least three more startups through an inaugural US$50 million global fund.

1 hour ago

Boustead Singapore's H2 net profit rises 11% to S$18.5m

Olivia Poh - MAINBOARD-LISTED Boustead Singapore has reported S$434.5 million in revenue for its second half, a 61-per-cent year-on-year increase.

1 hour ago

SPH files amended defence and counterclaim in StreetSine litigation case

Olivia Poh - SINGAPORE Press Holdings (SPH) on Tuesday said that it has filed an amended defence as well as a counterclaim for a lawsuit against it by Samuel Cranage Baker and Jeremy Lee Chuen Yang. The two plaintiffs have commenced legal proceedings against SPH and its wholly-owned subsidiary SPH Interactive ( ...

1 hour ago

ASL Marine unit wins jobs for floating fish farms

Olivia Poh - OFFSHORE and marine group ASL Marine said on Tuesday that its wholly-owned unit has secured shipbuilding contracts from the Aquaculture Centre of Excellence (ACE) for the construction of two Eco-Ark fish farms.

1 hour ago

Samsung's earnings surprise shows confusion in tech sector

Tim Culpan - SAMSUNG Electronics's second-quarter earnings seem like good news. But it's really not as simple as that.

1 hour ago

AmBank 'overweight' on Malaysia's glove makers

Rachel Mui - AMBANK has maintained its "overweight" call on Malaysia's glove sector and raised its fair value (FV) of Top Glove - the world's largest rubber glove maker.

1 hour ago

Auditors should avoid ditching companies midway on audit work

Anita Gabriel - IT had seemed like a standard boilerplate event in October last year when Singapore's mainboard-listed Mirach Energy announced a change of external auditors from Ernst & Young to BDO, citing, among other things, a potential savings of up to a quarter in audit fees.

1 hour ago

No plans to go back to Phase 1 after GE; rise in cases will be monitored

Leila Lai - THERE are no plans to revert to Phase 1 or a lockdown immediately after the General Election, despite a recent uptick in the number of new community cases reported daily, the multi-ministry taskforce on Covid-19 said on Tuesday.

1 hour ago

PAP giving voters a 'false choice': WP's Sylvia Lim

Sharon See - VOTERS are being presented a false choice by the ruling People's Action Party (PAP) because there is no reason the government will not be effective in tackling Covid-19 even if there were elected opposition MPs in Parliament, Workers' Party (WP) chairman Sylvia Lim said.

1 hour ago

Singapore's productivity and median wage have grown by a third in the last 10 years: Tharman

Nisha Ramchandani - CONTRARY to the "urban myth" that Singapore has failed in its quest to raise productivity, the nation's productivity and median wage have grown by about a third over the last decade, Senior Minister Tharman Shanmugaratnam has said.

1 hour ago

UK, EU under pressure to strike trade deal, but several issues impede agreement

Neil Behrmann - THE pressure is on for the European Union and the United Kingdom to strike a trade deal. In particular, the UK is under stress because of the deterioration in relations with China.

1 hour ago

Getting telemedicine off the ground successfully

Frederic Ho - SINCE the Covid-19 pandemic began, routine doctor visits have become a little unnerving for some people. This has led to a surge in patients leveraging telemedicine services in Asia, with platforms such as MyDoc in Singapore seeing a 60 per cent rise in daily active users even back in February 2020 ...

1 hour ago

Telemedicine in the pink as Covid-19 gives shot in arm of nascent industry

Sharanya Pillai - THE Covid-19 pandemic has prompted a fresh wave of interest in telemedicine apps - with even corporate giants joining startups in ramping up services. While changing doctor and patient mindsets has been a key obstacle in the past, the barriers are gradually falling, industry players told The Busine ...

1 hour ago

Election by the numbers

Claudia Tan - Social media platforms have been abuzz with virtual campaigning efforts as polling day draws close, taking the place of physical rallies that were among highlights of past elections in pre-pandemic times.

1 hour ago

Renewing the ranks

Chuang Peck Ming - Roughly one in four of the candidates, or a total of 23, elected into Parliament in the last general election in 2015 has stepped down to make way for new blood in the latest polls.

2 hours ago

Hospital led by biotech billionaire Soon-Shiong approved for PPP aid

Rachel Chia - A Pennsylvania hospital led by biotech billionaire Patrick Soon-Shiong won approval for up to US$5 million in federal aid for small businesses under a coronavirus pandemic loan program, government data show.

2 hours ago

Movie theater chains sue New Jersey over coronavirus-related closures

Six movie theater chains, including AMC Entertainment , Cinemark and Regal Cinemas, have sued New Jersey Governor Phil Murphy for refusing to let them resume operations, even after allowing churches, retailers and indoor shopping malls to reopen during the coronavirus pandemic.

2 hours ago

Disney says Walt Disney World reopening is on track for Saturday

Rachel Chia - Walt Disney Co will stick to its plans to reopen its Walt Disney World theme parks in Orlando, Florida, to a limited number of guests on Saturday, the company said in a statement on Tuesday.

2 hours ago

Disney says it will go ahead with Walt Disney World reopening on Saturday

Rachel Chia - Walt Disney Co will stick to its plans to reopen its Walt Disney World theme parks in Orlando, Florida, to a limited number of guests on Saturday, the company said in a statement on Tuesday.

2 hours ago

Facebook ad boycott organizers cite no progress on hate speech

Rachel Chia - Organizers of the Facebook ad boycott vowed Tuesday to continue their campaign, saying the social network's top executives had failed to offer meaningful action on curbing hateful content.

3 hours ago

Wall Street drops after strong rally as COVID-19 cases mount

Rachel Chia - The S&P 500 eased on Tuesday, a day after the benchmark index logged its longest streak of gains this year as investors weighed the risk of a sharp jump in new coronavirus cases nationwide hindering a rebound in economic activity.

3 hours ago

Huawei says US pressure on Brazil threatens long delays in 5G rollout

Rachel Chia - A Huawei Technologies executive warned that Brazil could suffer years of delay in deploying a 5G telecoms network and higher costs if it succumbs to mounting U.S. pressure to snub the Chinese equipment supplier.

4 hours ago

Fed policymakers see economy plateauing, risks ahead

Rachel Chia - The U.S. economy faces stiff headwinds in staging a strong recovery as a surge in coronavirus cases without a vaccine in sight and few treatment options will likely limit consumer spending and the labor market, U.S. Federal Reserve policymakers said on Tuesday.

5 hours ago

Fairyland, baker, tennis club: a snapshot of pandemic aid in one city

Rachel Chia - A roster of businesses receiving a piece of the US$660 billion U.S. Paycheck Protection Program illustrates how deeply the government's pandemic aid has reached into the everyday lives of Americans, yet at the same time how unevenly and fleetingly.

5 hours ago

GE2020: Independent candidate Cheang says it’s been a ‘learning journey’, answers critics who think he’s wasting money and time

siewfern -

6 hours ago

France needs 5G to attract investors – Iliad founder Niel says

Rachel Chia - PARIS: A protest movement against the deployment of 5G mobile technology in France risks dampening the country's attractiveness to investors, French tycoon Xavier Niel said on Tuesday. "5G is an element of attractiveness for our country," Niel, founder of French broadband internet provider Iliad ...

6 hours ago

Wall Street eases after strong rally as virus cases surge

Rachel Chia - The S&P 500 eased on Tuesday, a day after the benchmark index logged its longest streak of gains this year as investors weighed the risk of a sharp jump in new coronavirus cases nationwide hindering a rebound in economic activity.

6 hours ago

GE2020: WP’s Nathaniel Koh, a parent-to-be, hopes to champion cause of young families

razalia -

6 hours ago

GE2020: Fielded in PAP’s Aljunied ‘suicide squad’, Alex Yeo wants only to serve

razalia -

6 hours ago

Biden previews manufacturing plan to counter 'America First' president

Democratic presidential candidate Joe Biden on Tuesday promised to revive U.S. manufacturing so that the country is not dependent on China, taking aim at his rival's promises to revive factories.

7 hours ago

US hiring vaults to record high in May; new COVID-19 cases set to limit gains

U.S. hiring surged to a record high in May and layoffs fell as businesses reopened, but the improvement in the labor market is likely to be blunted by a resurgence in COVID-19 cases that has forced some enterprises to shut down again.

7 hours ago

Panasonic CEO says Tesla's Elon Musk a 'genius' who can be 'overly optimistic'

Rachel Chia - Tesla's Chief Executive Officer Elon Musk is "a genius who defies common sense and can be overly optimistic," Panasonic's CEO said on Tuesday, as the Japanese firm cautiously moves to expand a battery partnership with the U.S. carmaker.