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

Singapore Stock Market News Singapore Business News Singapore Market Updates

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

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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

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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.