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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1 day ago

Falcon Energy suspends coupon payment, share trading as it embarks on debt revamp

Ng Ren Jye - OFFSHORE and marine company Falcon Energy Group announced during the midday trading break on Friday that it will suspend coupon payment on notes due on Jan 19 as it embarks on a complete debt overhaul. The mainboard-listed company, in filings with the Singapore Exchange, also requested trading in i ...

1 day ago

Be prepared to 'get nothing' in liquidation, Hyflux warns perp, pref holders

Marissa Lee - WATER treatment firm Hyflux faced its anxious creditors on Friday for the second time since it filed for bankruptcy protection, in a bid to rally support to carry through what has proven to be a tough rescue deal.

1 day ago

US regulators discuss fining Facebook for privacy violations: report

Navin Sregantan - U.S. regulators have met to discuss imposing a fine against Facebook Inc for violating a legally binding agreement with the government to protect the privacy of personal data, the Washington Post reported on Friday, citing three people familiar with the discussions.

1 day ago

Wall Street extends rally on US-China trade optimism

Navin Sregantan - Wall Street's main indexes were set to open higher on Friday, eyeing their fourth week of gains, on hopes that a bitter trade war between the United States and China would be resolved.

1 day ago

US regulators discuss imposing fine against Facebook: Washington Post

Navin Sregantan - U.S. regulators have met to discuss imposing a fine against Facebook Inc for violating a legally binding agreement with the government to protect the privacy of personal data, the Washington Post reported on Friday, citing three people familiar with the discussions.

1 day ago

Leasing firm seeks earlier return of 10 Avianca Brasil planes

Navin Sregantan - Aircastle Ltd will try to repossess 10 planes from Avianca Brasil before the Feb. 1 expiration of a 15-day stay on repossessions from the struggling airline, a representative of the U.S.-based aircraft leasing firm said on Friday.

1 day ago

Exclusive: US pushing for regular review of China trade, reform progress

Navin Sregantan - The United States is pushing for regular reviews of China's progress on pledged trade reforms as a condition for a trade deal - and could again resort to tariffs if it deems Beijing has violated the agreement, according to sources briefed on negotiations to end the trade war between the two nations.

1 day ago

PBGC steps in to oversee Sears' two pension plans

Navin Sregantan - Pension Benefit Guaranty Corp (PBGC) is taking steps to assume responsibility for bankrupt retailer Sears Holdings Corp's two pension plans, covering about 90,000 people, the U.S. government agency said on Friday.

1 day ago

US consumer morale at two-year low; factory output surges

Annabeth Leow - U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago amid fears an ongoing partial shutdown of the federal government and financial market volatility would slow the economy.

1 day ago

Hyflux investors told to wait until February for detailed restructuring plan

Navin Sregantan - SINGAPORE: Investors left out on a limb by Hyflux will have to wait until mid-February to find out more about the embattled water treatment firm's revival plan and what that means for their investments. This was revealed to those that attended the second round of town hall meetings on Friday (Jan .. ...

1 day ago

Data analytics usage may get boost with proposed changes to Copyright Act

Navin Sregantan - SINGAPORE: Proposed changes to the Copyright Act could give industries involved in data analytics a leg up and make it easier to create and build on innovations, industry players told Channel NewsAsia on Friday (Jan 18).  The Law Ministry on Thursday released a report outlining proposed changes to ...

1 day ago

Tesla cuts jobs as it looks to make Model 3 more affordable

Navin Sregantan - Tesla Inc said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower priced versions of its crucial Model 3 sedan, sending its shares down 7 percent.

1 day ago

Testing times from Beijing to Wall Street

Annabeth Leow - If you were surprised by this month's bounce in global stock markets, next week may tell you if you should join in or stay out.

1 day ago

Oil jumps 3 percent on OPEC plan details, US-China trade hopes

Annabeth Leow - Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China trade war.

1 day ago

Some opposition parties keen to work with Dr Tan Cheng Bock; analysts say he cannot be a ‘one-man show’

amanda.eber - Victor LohFaris Mokhtar46 min 39 sec agoSINGAPORE — Several opposition parties expressed interest in working with former Peop

1 day ago

In the works: ‘Cold Tube’ to beat the heat in humid Singapore without aircon

amanda.eber - DARYL CHOO36 min 55 sec agoSINGAPORE — A team of researchers at the Singapore-ETH Centre have found a way to kee

1 day ago

Canada dismisses China's warning of repercussions over Huawei ban

Navin Sregantan - Canada's government on Friday dismissed China's warning of repercussions if Ottawa banned Huawei Technologies Co Ltd from supplying equipment to 5G networks, saying it would not compromise on security.

1 day ago

Right timing: STI rally may encounter resistance soon

Goola Warden - SINGAPORE (Jan 18): The rally by the Straits Times Index may encounter resistance as it approaches its declining 200-day moving average at 3,251. This may occur at a time when short term stochastics is approaching the top end of its range. The 21-day RSI is also near the top end of its range. Any r ...

1 day ago

Explainer: Why the F-35s have been identified to replace Singapore’s F-16s

amanda.eber - Louisa Tang18 min 13 sec agoSINGAPORE — After evaluating the F-35 Joint Strike Fighter for more than five years,

1 day ago

Netflix shares slip as weak forecast dampens investor optimism

Navin Sregantan - Shares of Netflix Inc fell more than 2 percent on Friday, as several investors looked past its record subscriber numbers and instead focused on its lower-than-expected revenue forecast for the first quarter.

1 day ago

Metech International selling Malaysian e-waste business to general manager

Annabeth Leow - CATALIST-LISTED Metech International is selling its Malaysian electronic waste management (EWM) subsidiary to that unit's general manager, the board announced on Friday night.

1 day ago

Fed's Williams says rate policy must be patient, data dependent

Navin Sregantan - The U.S. Federal Reserve must be patient and guided by data when considering whether to raise interest rates, New York Fed President John Williams said on Friday, in remarks reinforcing the central bank's commitment to a wait-and-see approach.

1 day ago

Daily bitcoin transactions on darknet markets doubled throughout 2018: report

Annabeth Leow - Use of bitcoin as a form of payment doubled in 2018 on darknet market sites, where users can buy anything from illegal drugs to fake IDs, even though the price of the cryptocurrency crashed, according to a study by data firm Chainalysis.

1 day ago

Tesla to cut workforce by 7 percent, sees small fourth-quarter profit

Navin Sregantan - Tesla Inc said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower priced versions of its crucial Model 3 sedan, sending its shares down 7 percent.

2 days ago

Hyflux warns perp, pref holders they will lose everything in liquidation

Marissa Lee - WATER cleaning firm Hyflux faced its grey-haired creditors on Friday for the second time since it filed for bankruptcy protection, in a bid to rally support to carry through what has proven to be a tough rescue deal.

2 days ago

US manufacturing output posts biggest gain in 10 months

Navin Sregantan - U.S. manufacturing output increased by the most in 10 months in December, boosted by a surge in the production of motor vehicles and a range of other goods, which could allay fears of a sharp slowdown in factory activity.

2 days ago

Government to defray cost of caregiving and improve respite care for caregivers: Edwin Tong

amanda.eber - Navene Elangovan41 min 44 sec agoSINGAPORE — The government will boost support for caregivers by defraying the cost of

2 days ago

Dasin Retail Trust extends maturity date for loans due on Saturday

Annabeth Leow - MAINBOARD-LISTED Dasin Retail Trust has extended the maturity date for a tranche of offshore term loans, in a supplemental agreement inked and announced by the manager on Friday.

2 days ago

Wall Street set to open higher on trade optimism

LAURENCE D FINK - Wall Street's main indexes were set to open higher on Friday, eyeing their fourth week of gains, on hopes that a bitter trade war between the United States and China would be resolved.

2 days ago

Tesla to cut workforce by seven percent, sees small fourth-quarter profit

Navin Sregantan - Tesla Inc on Friday said it will cut its full-time workforce by about 7 percent, while it ramps up production of its Model 3 sedan.

2 days ago

CVS, Walmart resolve pharmacy contract impasse

Nisha Ramchandani - CVS Health Corp and Walmart Inc reached a multi-year agreement, under which Walmart will continue participating in CVS's pharmacy benefit management commercial and Medicaid retail pharmacy networks, the companies said on Friday.

2 days ago

Rupert Murdoch seeks permission to merge UK's Times and Sunday Times

Nisha Ramchandani - Rupert Murdoch's London-based The Times and Sunday Times have asked the British government for permission to share resources across both titles, a move that is barred under rules imposed when the media mogul bought both newspapers in 1981.

2 days ago

Schlumberger revenue beats, sees international growth in 2019

Nisha Ramchandani - Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.

2 days ago

A.J. Gallagher’s 'clean coal' business draws ire of green investors

Nisha Ramchandani - Two of America’s best-known green investors are reassessing their stakes in global insurance broker Arthur J. Gallagher & Co’s after a Reuters investigation into the company’s lucrative side-business in “clean coal”.

2 days ago

AT&T ads returning to YouTube, two years after pulling back over content

Nisha Ramchandani - AT&T Inc said Friday it will again buy advertising on Alphabet Inc's YouTube, nearly two years after the U.S. wireless carrier left the video platform when it discovered its ads may have appeared next to inappropriate content.

2 days ago

Elliott-target Pernod pledges to further improve governance

Nisha Ramchandani - French family-backed spirits group Pernod Ricard , which is being targeted by activist investor Elliott, said it is striving to improve its governance and will communicate on future changes once they have been approved by its board.