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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31 minutes ago
Wall Street advances for sixth straight session
NEW YORK: Wall Street rose to fresh records on Thursday, with US stocks seeing their sixth straight winning finish amid persistent investor enthusiasm. But oil shares did not join the party, with crude prices tumbling as markets showed disappointment at producing countries' decision on Thursday ...
1 hour ago
Big drop in US oil stocks finally on the way, traders say
Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years.
1 hour ago
Viacom networks to return to Suddenlink customers
A number of Viacom Inc's networks, which include Nickelodeon, Comedy Central and MTV, will be available to Altice NV's Suddenlink subscribers more than two years after the cable provider dropped them in a carriage dispute, the companies said on Thursday.
2 hours ago
GM pickup owners sue, alleging emissions cheating
DETROIT: Two US owners of General Motors diesel pickup models sued the giant automaker on Thursday (May 25), claiming it had used emissions-cheating devices similar to those in Volkswagen's global "dieselgate" scandal. The company quickly denied the allegations. The lawsuit, filed in a Detroit ...
2 hours ago
GM is accused in lawsuit of cheating on diesel truck emissions
REUTERS: General Motors Co was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen AG , to ensure they pass emissions tests. The proposed class-action lawsuit covers people who own or lease more than 705,000 Chevrolet .. ...
3 hours ago
Amazon opens first brick and mortar New York bookshop
NEW YORK: Online retail giant Amazon on Thursday (May 25) opened its first brick and mortar bookstore in New York, selling a limited range of its highest-rated books and letting customers browse products as in times gone by. Amazon, which launched as an online bookseller in 1995 but which now ...
3 hours ago
US lawsuit accuses GM of cheating on diesel truck emissions
REUTERS: General Motors Co was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen AG , to ensure they pass emissions tests. The proposed class-action lawsuit was filed on behalf of people who own or lease more than ...
3 hours ago
Ballooning Chinese dollar borrowing a dilemma for index trackers
Record-breaking dollar bond sales from Chinese companies are steadily increasing China's weight in global indexes, raising concerns about overexposure among investors who track them.
3 hours ago
BlackRock to pay US$1.25 billion over 20 years for New York headquarters
BlackRock Inc will initially pay about US$60 per square foot in rent for its future headquarters in the Hudson Yards district on the far west side of midtown Manhattan, the company said in a filing on Thursday.
5 hours ago
Exclusive: Bankrupt Westinghouse ends pensions for ex-CEOs, executives
Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp , has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent.
5 hours ago
Managing cash flow a top challenge for SMEs: Survey
SINGAPORE: Delays in receiving payments from customers is the top financing challenge faced by a quarter of small- and medium-sized enterprises (SMEs) surveyed in Singapore. This is according to a recent study conducted by SPRING Singapore, which polled 1,645 SMEs. “The customers are delaying ...
6 hours ago
Oil skids lower on Saudi comments before OPEC decision
LONDON: World oil prices briefly sank by two dollars on Thursday (May 25) after OPEC kingpin Saudi Arabia appeared to rule out deep production cuts at a meeting of the cartel. Crude futures later clawed back ground as traders awaited the conclusion of the latest gathering of the Organisation of ...
6 hours ago
Wilbur Ross seeks bigger budget for trade enforcement
U.S. Commerce Secretary Wilbur Ross said on Thursday that a US$5.5 million increase requested for the agency's enforcement budget this year will have a "real impact" in cracking down on unfair trade practices and export security violations.
6 hours ago
OPEC extends oil output cut by nine months to fight glut
VIENNA: OPEC decided on Thursday (May 25) to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. The cuts are likely to be shared again by a ...
6 hours ago
GM International assisting employees in Singapore affected by restructuring
SINGAPORE: General Motors (GM) International on Thursday (May 25) said it is supporting employees affected by a restructuring of its regional office in Singapore. The US-based automaker’s international headquarters in Singapore oversees markets in India, Southeast Asia and South Korea, among ...
6 hours ago
Payless to try fending off creditor probe of owners with own review
Discount retailer Payless ShoeSource is investigating whether its leveraged buyout by private equity firms and the dividend payments they received led to its bankruptcy, according to court papers.
6 hours ago
Trump shames Nato leaders on defence spending as unity tested
[BRUSSELS] US President Donald Trump hectored Nato leaders to pay their "fair share" on defence to help counter the terrorist threat, in a public shaming that risked souring a ceremony intended to mark the alliance's unity.
6 hours ago
Lenovo's profit tops estimates after PC market levels off
[BEIJING] Lenovo Group Ltd's quarterly profit fell less than expected after the global personal computer market eked out growth for the first time since 2012.
6 hours ago
Hiap Tong's full-year profit surges 110%
Lynette Khoo - CRANE specialist Hiap Tong Corporation marked a 109.6 per cent surge in net profit for the full year ended March 31 to S$4.78 million, thanks to a jump in other income.
7 hours ago
Singapore maintains 2017 growth forecast as economy expands 2.7% in Q1
The economy is expected to grow between 1 and 3 per cent for 2017, with growth likely to come in higher than 2 per cent “barring the materialisation of downside risks”, says the Ministry of Trade and Industry.
7 hours ago
Pan Hong racks up 25.3% rise in full-year profit
Lynette Khoo - PAN Hong Holdings Group chalked up a 25.3 per cent increase in net profit to 100.94 million yuan (S$20.35 million) for the full year ended March 31 amid a surge in revenue.
7 hours ago
Jason Marine turns around in FY17 despite lower revenue
Lynette Khoo - JASON Marine Group reported a net profit of S$363,000 for the full year ended March 31, against a net loss of S$6 million a year ago.
7 hours ago
Worldpay looks to bring real payments to virtual worlds
[LONDON] Worldpay Group Plc, the London-based payments processor, has created a way to handle debit and credit card transactions in virtual reality.
7 hours ago
US Treasury sees business taxes as fruitful ground for bipartisan deal
The Trump administration is particularly hopeful it can reach a bipartisan tax deal when it comes overhauling laws for business taxes, Treasury Secretary Steven Mnuchin said on Thursday.
7 hours ago
Joyas International to sell loss-making subsidiary for HK$15m
Lynette Khoo - JOYAS International Holdings said it has entered into an agreement to sell loss-making subsidiary Joyas Group for HK$15 million (S$2.67 million).
7 hours ago
ArtiVision sinks deeper into the red
Lynette Khoo - COMPUTER video firm ArtiVision Technologies sank deeper into the red in the fourth quarter ended March 31 and the full fiscal year, due mainly to impairment of assets.
7 hours ago
Anthem battle behind it, Cigna gives stock to 40,000 workers
Cigna Corp , which recently won court approval to break off its failed deal with Anthem Inc , on Thursday said it would give its more than 40,000 employees five Cigna shares each and expand its paid leave, as it embarks on its next phase of growth.
7 hours ago
New Ford CEO relies on veterans to reboot profits
Ford Motor Co on Thursday outlined a broad reshuffling of senior management under its new chief executive officer, including a new vice president for autonomous and electric vehicles hired away from ride services power Uber.
7 hours ago
Vashion announces debt conversion, share consolidation, rights issue and business diversification plan
Lynette Khoo - MEN'S apparel retailer Vashion Group on Thursday announced a slew of proposed transactions, including conversion of debt owed to independent directors into equity, a share consolidation, a rights issue to raise an estimated net proceeds of S$5.3 million and a business diversification proposal. ...
7 hours ago
Prosecutors investigate Bosch employees in Daimler probe: Handelsblatt
German prosecutors who searched Daimler's offices this week as part of a probe into diesel pollution are also investigating employees at automotive supplier Bosch , daily Handelsblatt reported, citing the prosecutor's office.
8 hours ago
US: S&P, Nasdaq open at record highs after Fed minutes
The S&P 500 and Nasdaq Composite opened at record highs on Thursday after minutes of the Federal Reserve's latest meeting showed policymakers expected the economy to pick up momentum and that they would raise interest rates soon.
8 hours ago
Sears posts quarterly profit on Craftsman sale, cost cuts
REUTERS: Sears Holdings Corp reported its first quarterly profit in nearly two years, as the retailer benefited from the sale of its Craftsman brand and a program to cut US$1.25 billion in costs, amid doubts about its ability to continue as a going concern. The company's shares were up 17 percent .. ...
8 hours ago
S&P, Nasdaq open at record highs after Fed minutes
REUTERS: The S&P 500 and Nasdaq Composite opened at record highs on Thursday after minutes of the Federal Reserve's latest meeting showed policymakers expected the economy to pick up momentum and that they would raise interest rates soon. The Dow Jones Industrial Average rose 50.69 points, or 0 ...
8 hours ago
Pact to speed up bitcoin drives digital currency to record high
[LONDON] Bitcoin's seemingly unstoppable rally has just been given new impetus.
8 hours ago
US merchandise trade gap widened to US$67.6b in April
[WASHINGTON] America's merchandise trade deficit widened to US$67.6 billion in April from a revised US$65.1 billion a month earlier, an advance report from the Commerce Department showed Thursday.
9 hours ago
Ford names new heads for North America, Europe, Asia
Ford Motor Co , which earlier this week named turnaround expert James Hackett as its chief executive officer, announced replacements for some of its key executive positions.