Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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42 minutes ago
Spain's king hits out at Catalonia 'secession attempt'
[MADRID] Spain's King Felipe VI on Friday blasted what he said was an "unacceptable secession attempt" by Catalonia as the government prepared for unprecedented steps to take back some of the crisis-hit region's powers.
46 minutes ago
Trump tax cut plan gains momentum after US budget vote
[WASHINGTON] President Donald Trump's tax reform plans won partial support on Friday when Republican US Senator Rand Paul said he was "all in" for massive tax cuts, but the party was still far from united over how to achieve the main item on its domestic agenda.
51 minutes ago
Merck to cut 1,800 US sales jobs, add 960 in chronic care
[NEW YORK] Drugmaker Merck & Co, moving to a new sales team structure in the United States, plans to cut 1,800 sales positions, while adding 960 jobs to a new chronic care sales force, the company said on Friday.
53 minutes ago
US existing home sales edge up in September
[WASHINGTON] Sales of existing US homes rose in September compared with August, but remained relatively tepid due to limited housing supply and high prices, the National Association of Realtors said Friday.
56 minutes ago
California judge tosses $417 million talc cancer verdict against Johnson & Johnson
tdyadmin - 29 min 1 sec agoA California judge on Friday threw out a $417 million verdict against Johnson &am
56 minutes ago
Apple hit with trademark lawsuit over iPhone X "animoji" feature
[NEW YORK] A Japanese software company is suing Apple in a US court over the trademark for the term "animoji", alleging the US technology company stole the name to use on a feature of its iPhone X.
58 minutes ago
Gillette weakens P&G report after Peltz row
[BENGALURU] Procter & Gamble disappointed Wall Street with sales on Friday, hurt by continuing weakness in its Gillette business, a week after it claimed to have fought off hedge-fund manager Nelson Peltz's move to muscle onto the board.
1 hour ago
UN draws flak after naming Mugabe goodwill ambassador
[HARARE] The United Nations faced criticism Friday after naming Zimbabwean President Robert Mugabe a "goodwill ambassador" to promote health causes, despite the country's dire health crisis under his rule.
1 hour ago
US deficit grows 13.6% in 2017, now 3.5% of GDP
[WASHINGTON] The US budget deficit grew to US$666 billion in fiscal year 2017, up 13.6 per cent from the year before, according to official data released Friday.
1 hour ago
US: Wall Street hits record highs; tax plan hopes fuel optimism
[NEW YORK] US stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the US Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward.
1 hour ago
Europe: FTSE closes flat as sterling bounces back on Brexit hopes
[LONDON] Britain's FTSE closed up 0.2 per cent on Friday as sterling bounced back on hopes of a breakthrough in Brexit negotiations, and consumer heavyweights Unilever and Reckitt Benckiser weighed down an index that was earlier lifted by financials.
3 hours ago
Snap lays off 18 employees in recruiting division
tdyadmin - 1 hour 38 min agoSAN FRANCISCO - Social media company Snap Inc <SNAP.N> said on Friday i
3 hours ago
Tesla raises borrowing capacity under warehouse agreements to $1.1 billion
tdyadmin - 1 hour 24 min agoTesla Inc <TSLA.O> said on Friday it has increased its borrowing capaci
3 hours ago
For GE and its shareholders, a lost decade and a half
tdyadmin - 37 min agoNEW YORK - It has been a rough 16 years for General Electric Co <GE.N>
4 hours ago
Troubled times for rail operator
Lee U-Wen - A lot of newsworthy events have taken place in the past few days. New Zealand is poised to have its youngest prime minister in 150 years in the form of 37-year-old Jacinda Ardern, while Austria's Sebastian Kurz, at just 31 years of age, is set to be the world's youngest head of state and ...
4 hours ago
A smashing success
Lee U-Wen - THE biggest tennis tournament in Singapore is back for its fourth edition this weekend, and more companies are snapping up VIP hospitality tickets to catch the likes of Venus Williams and new world No 1 Simona Halep in action.
4 hours ago
The Pines club to relocate from Stevens Road
Lee Meixian - MEMBERS of The Pines will be informed next week of the new address for their clubhouse, which used to be at 30 Stevens Road - but only after its members made repeated requests for information on the status of the club a year past its redevelopment deadline.
4 hours ago
China's Logan Property buys Florence Regency for S$629m
Lynette Khoo - FLORENCE Regency, a privatised HUDC estate in Hougang, has finally found a buyer willing to match the independent valuation of S$629 million - Logan Property.
4 hours ago
Fragrance CEO makes offer for New Wave
Stephanie Luo - THE chief executive of real estate developer Fragrance Group is intending to make a voluntary conditional cash offer for electronic component supplier New Wave Holdings at S$0.013 per share.
4 hours ago
CMT posts flat DPU for Q3; negative rent reversion for first 9 mths
Kalpana Rashiwala - REFLECTING the challenging retail market conditions, CapitaLand Mall Trust posted negative rental reversion in the first nine months of this year, even as the trust manager said it will "continue to focus on sustaining distribution per unit".
4 hours ago
Greenwich mansion listings pulled to wait for a better day
LISTINGS of mansions in Greenwich have dropped for the past four quarters. But this time it wasn't because sales were brisk.
4 hours ago
The unlikely places in London to buy a £1 million penthouse
LONDON'S eight-year housing boom means £1 million (S$1.8 million) flats are being offered in areas historically associated with heavy industry and subsidised worker's housing.
4 hours ago
AccorHotels upbeat on 2017 profit target after Q3 sales
ACCORHOTELS, Europe's biggest hotel group, on Thursday gave a rosier outlook, saying its 2017 operating profit would be at the upper end of a 460 million to 480 million euros range forecast in July.
4 hours ago
Brave new app
Jacquelyn Cheok - SOHO, a property discovery app that debuted in Australia last month, will be launched in Singapore on Monday. Disrupted speaks with founder Jonathan Lui to find out how Soho plans to take on local big names PropertyGuru and in the already-saturated property search market here.
4 hours ago
MAS rolls out simpler, quicker process for venture capital managers
Jamie Lee - The new regulatory regime will simplify and shorten the authorisation process for VC managers. The MAS will no longer require VC managers to have directors and representatives with at least five years of relevant experience in fund management. VC managers will also not be subjected to the capital r ...
4 hours ago
Reworking of TPP to exclude US could see progress by Apec summit: PM Lee
Kenneth Lim - PRIME Minister Lee Hsien Loong is hoping that developments on a new framework for the Trans-Pacific Partnership (TPP) - one that excludes the United States - will emerge by November's Asia-Pacific Economic Cooperation (Apec) leaders' summit in Vietnam.
4 hours ago
Jurong first to enjoy options for retail power supply
Andrea Soh - COME April next year, households and businesses in Jurong will be the first in Singapore to have the option of choosing their electricity retailers in the soft launch of a fully liberalised power market.
4 hours ago
Economists sound note of caution on flip side of the sharing economy
Vivien Shiao - TECHNOLOGY has enabled platforms for people to share resources more effectively - be it cars, bicycles, or even homes - but there are also consequences that come with the rise of the sharing economy, said economists at the Singapore Economic Policy Forum 2017 on Friday morning at the Regent Hotel.
4 hours ago
GIC diversifies further into renewable energy and tech
Cai Haoxiang - SINGAPORE sovereign wealth fund GIC continues diversifying into the new economy.
4 hours ago
Cheery mood spurs STI's rally for 5th day
Claire Huang - OPTIMISM in major economies and firm US and local earnings continued to fuel Singapore equities' staying power on Friday after it extended gains made in the past four sessions.
4 hours ago
Brokers' take
We expect DBS Group Holdings' loan growth to have accelerated to 2.5 per cent quarter on quarter in Q3 17. Consolidation of ANZ's wealth management and retail banking businesses in Singapore and Hong Kong would boost loan growth to 7.1 per cent year on year (yoy) and fee income growth to ...
4 hours ago
Top restaurant dishes up debts along with fine dining
ON Jan 5, Le Cirque will close its doors at 151 East 58th Street in New York.
4 hours ago
SIA to finalise US$13.8b order from Boeing next week
Kenneth Lim - SINGAPORE Airlines (SIA) will finalise terms on a US$13.8 billion order of aircraft from US maker Boeing after the weekend, the national carrier said on Friday in response to remarks by Singapore Prime Minister Lee Hsien Loong during an interview with CNBC.
4 hours ago
Grab secures US$700m in debt financing to build S-E Asia's largest fleet
Jacquelyn Cheok - BANKS have emerged the latest players in ridesharing.
4 hours ago
Suspended animation
Lee Meixian - SUNG Lin Gun remembers the heyday of Singapore's animation sector, a time when Flash software was considered revolutionary and meant no more drawing cartoons with pencil and paper.
4 hours ago
Catalist meeting needs of growing companies; getting more investor interest
Siow Li Sen - THE Catalist board is attracting more growth companies and also getting more investors as it is the most liquid platform among its peers, said Singapore Exchange head of equity capital market and capital market development Mohamed Nasser Ismail.