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

DOJ probing Visa on US debit card practices, competition

VISA said on Friday (Jan 27) the antitrust division of the US Department of Justice (DOJ) had issued investigative demand earlier this month seeking documents and information about US debit card practices and competition with other payment networks.

1 day ago

Oil prices settle lower on stronger supply outlook

OIL prices settled lower on Friday (Jan 27), making their weekly finish flat to lower, as indications of strong Russian oil supply offset better-than-expected US economic growth data, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand.

1 day ago

Europe: Shares end higher as focus shifts to central bank meetings

EUROPEAN shares ended higher on Friday (Jan 27) as investors assessed mixed earnings from the region, while easing inflation in the US bolstered sentiment ahead of a week of major central bank decisions.

1 day ago

Commentary: Indonesia wants more than a nickel for natural resources

Indonesia is looking into forming an OPEC-style cartel for nickel, a key component of EV batteries, to drive inbound investment – but there are reasons to approach this idea with caution, says an academic.

1 day ago

Commentary: Big tech binged on workers during COVID-19. Now, the purge

There were signs of a hiring acceleration even before COVID-19 arrived, which casts some light on why tech CEOs thought what they were seeing during the pandemic might represent the new normal, says Justin Fox for Bloomberg Opinion.

1 day ago

US: Wall Street ends higher, notches weekly gains as Fed meeting looms

WALL Street advanced on Friday (Jan 27), marking the end of a rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week’s Federal Reserve monetary policy meeting.

2 days ago

US SEC probes Elon Musk's role in Tesla self-driving claims - Bloomberg News

:The U.S. securities regulator is investigating Elon Musk's role in shaping EV maker Tesla's self-driving claims, Bloomberg News reported on Friday, citing a person with knowledge of the matter.The review is part of an ongoing Securities and Exchange Commission (SEC) probe of the company&# ...

2 days ago

US SEC probes Elon Musk's role in Tesla self-driving claims: Report

The US securities regulator is investigating Elon Musk's role in shaping EV maker Tesla's self-driving claims, Bloomberg News reported on Friday (Jan 27), citing a person with knowledge of the matter. The review is part of an ongoing Securities and Exchange Commission (SEC) probe of the co ...

2 days ago

US secures deal with Netherlands, Japan on China chip export limit: Bloomberg

WASHINGTON: The United States has secured a deal with the Netherlands and Japan to restrict exports of some advanced chip-making machinery to China in talks that concluded on Friday (Jan 27), Bloomberg reported, citing people familiar with the matter. The agreement would extend some export controls ...

2 days ago

Twitter research group stall complicates compliance with new EU law

The stalling of a Twitter program that was critical for outside researchers studying disinformation campaigns throws into question the company's strategy to comply with upcoming regulation in Europe, former employees and experts told Reuters.The European Union's new Digital Services Act (D ...

2 days ago

Chevron defends buybacks as it posts US$35.5 billion in 2022 profit

NEW YORK:: Chevron defended its new US$75 billion share repurchase program from White House criticism Friday (Jan 27), as it reported record profits of US$35.5 billion in 2022. The oil giant, which also raised its dividend in Wednesday's buyback announcement, aims for stock purchases in a " ...

2 days ago

Top French university bans use of ChatGPT to prevent plagiarism

PARIS : Sciences Po, one of France's top universities, has banned the use of ChatGPT, an artificial intelligence-based chatbot that can generate coherent prose, to prevent fraud and plagiarism.ChatGPT is a free programme that generates original text about virtually any subject in response to a ...

2 days ago

Visa, Mastercard pin hopes on China reopening as travel boom fades  

Mastercard Inc and Visa Inc will rely on China reopening to give travel spending a boost, Wall Street analysts said, as the pace of growth in other parts of the world eases from a post-pandemic boom.Executives at the payments companies on Thursday pointed to further room for travel recovery in China ...

2 days ago

KJ and Noh Omar among 44 sacked by Umno; Hishammuddin, Shahril Sufian among four suspended

Tan Choe Choe - The Umno Supreme Council has sacked two members from the party, namely Khairy Jamaluddin and its former Selangor chief Tan Sri Noh Omar.Meanwhile, four members were suspended from the party for six years, namely Sembrong Member of Parliament (MP) Datuk Seri Hishammuddin Hussein, former Johor state a ...

2 days ago

Hunt claims Brexit will drive growth as he rules out UK tax cuts

Bloomberg - Chancellor of the Exchequer Jeremy Hunt is expected to disappoint investors and his critics in the UK ruling party Friday by rejecting calls for tax cuts, even as he argues that Brexit will drive economic growth.Hunt will use a speech at Bloomberg’s European headquarters in London to suggest he ca ...

2 days ago

Capital World to sell most of its space at its Johor mall to Mustafa for RM368 mil

Felicia Tan - Capital World, on Jan 27, announced that it will sell most of its space, including retail units, at its Capital City Mall in Johor Bahru to retailer Mustafa, for RM368 million ($113.6 million).This is Mustafa’s first foray into the Malaysian market.The 11-storey Capital City Mall is located in Joh ...

2 days ago

US Federal Reserve rejects crypto-focused bank's application to be supervised by the Fed

:The U.S. Federal Reserve on Friday rejected crypto-focused Custodia Bank's application to become a member of the Federal Reserve System, saying the bank's proposed business model and focus on digital assets presented significant safety and soundness risks. Custodia, which is based in Wyom ...

2 days ago

Dutch PM Rutte: may not disclose result of US chip export control talks

AMSTERDAM : The Netherlands' Prime Minister Mark Rutte said on Friday that it is not clear whether his government will disclose the result of ongoing talks with the U.S. over new export restrictions for the semiconductor industry.U.S. officials have said they expect the Netherlands and Japan so ...

2 days ago

Apple developing software to help users build apps for upcoming headset - The Information

Apple Inc is developing software to help users of its upcoming mixed-reality (MR) headset build their own augmented reality apps, the Information reported on Friday, citing four people who worked on the headset.According to a Bloomberg News report, the company was in talks with about half a dozen me ...

2 days ago

White House and European Commission to launch first-of-its-kind AI agreement

The White House and European Commission will announce on Friday an agreement to speed up and enhance the use of artificial intelligence to improve agriculture, healthcare, emergency response, climate forecasting and the electric grid.A senior U.S. administration official, discussing the initiative s ...

2 days ago

US and EU to launch first-of-its-kind AI agreement

WASHINGTON: The United States and European Union on Friday (Jan 27) announced an agreement to speed up and enhance the use of artificial intelligence to improve agriculture, healthcare, emergency response, climate forecasting and the electric grid. A senior US administration official, discussing the ...

2 days ago

Goodyear to cut 500 jobs amid ‘significantly weaker’ demand

GOODYEAR Tire & Rubber will eliminate about 500 jobs, adding to the wave of layoffs sweeping corporate America as the company cuts costs in response to weak demand and rising inflation.

2 days ago

Singapore retailer Mustafa buys part of JB mall, aims to open first flagship store in Malaysia

Mustafa, known for its namesake 24-hour mall in Singapore, will purchase 591 unsold retail units in Johor Bahru's Capital City Mall. Capital World said proceeds from the sale will give it "the financial muscle" to build and complete the remaining components of the integrated development. Capital Wor ...

2 days ago

Parkway Life Reit FY2022 DPU up 2.1% to S$0.1438

Elysia Tan - PARKWAY Life Reit posted a 2.1 per cent increase in its distribution per unit (DPU) to 14.38 Singapore cents for the full financial year ended Dec 31, 2022, from 14.08 cents in FY2021, as gross revenue and net property income also rose.

2 days ago

ChatGPT ‘arms race’ adds US$4.6 billion to Nvidia founder’s fortune

ONE of the biggest winners from the soaring popularity of the ChatGPT tool is a billionaire Taiwanese immigrant known for his black leather jackets and tattoo resembling the logo of Nvidia, the company he co-founded in 1993.

2 days ago

US: Wall St opens lower on Intel warning, inflation data limits fall

WALL STREET’S main indexes opened lower on Friday (Jan 27) after Intel’s bleak outlook dragged chipmakers lower, though data showing easing inflation spurred hopes of a policy shift from the Federal Reserve, helping limit losses.

2 days ago

Key inflation gauge cools further, paving way for smaller Fed rate hike

THE Federal Reserve’s preferred inflation measures eased in December to the slowest annual paces in over a year while consumer spending fell, helping pave the way for policymakers to further scale back the pace of interest-rate hikes.

2 days ago

Ford recalls 462,000 vehicles for rear camera display failure

FORD Motor said on Friday (Jan 27) it is recalling 462,000 vehicles worldwide because video output may fail, preventing the rearview camera image from displaying.

2 days ago

ParkwayLife REIT reports 2.1% rise in FY2022 DPU

Goola Warden - ParkwayLife REIT announced a 2.7% rise in DPU to 7.32 cents for the second half year ended December 31, 2022 (2HFY2022) and a 2.1% rise in full year DPU to 14.38 cents.Gross revenue for 2H2022 and FY2022 increased 14.2% y-o-y to $69.8 million and 7.7% y-o-y to $130.0 million respectively primarily d ...

2 days ago

Adani rout drags India's Nifty 50 gauge to three-month low

Bloomberg - A US$50 billion ($65.60 billion) selloff in Adani Group’s empire following US short-seller Hindenburg Research’s scathing allegations has dragged the NSE Nifty 50 Index to its lowest since Oct 21 with the stocks becoming the top losers in the Indian gauge.Adani Group’s flagship company Adani E ...

2 days ago

Salesforce appoints new board directors amid activist investor pressure

Salesforce Inc on Friday named three new board directors, including the chief of hedge fund ValueAct Capital, amid pressure from activist investors for better cost control and a management shakeup at the cloud-based software firm.The company appointed chief executive of hedge fund ValueAct Capital M ...

2 days ago

Landsec sells London office property to Hong Kong developer for $432 million

UK landlord Land Securities said on Friday it sold One New Street Square office property in London to Hong Kong-based Chinachem Group for 349.5 million pounds ($432.12 million), in tune with its strategy to offload mature office spaces in the capital.British landlords are grappling with a valuation ...

2 days ago

Israeli justice reforms spark tech investor flight fears

JERUSALEM : Barak Eilam, a former Israeli intelligence officer who now heads cloud-based software provider NICE, says he has never had problems selling Israel as an investment destination.But on a call last week, Eilam sensed this may be changing when major investors he had partnered with for years ...

2 days ago

US dollar ticks up ahead of central bank meetings

THE US dollar edged up on Friday (Jan 27) to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of major central bank meetings next week.

2 days ago

Starhill Global REIT report 2.2% rise in DPU in 1HFY2023

Goola Warden - Starhill Global REIT reported a 2.2% rise in distributions per unit (DPU) to 1.82 cents for the six months to Dec 31, 2022, its 1HFY2023 (the REIT has a June year-end). Committed occupancy stood at a 97.1% as at Dec 31, 2022, while weighted average lease expiry is relatively long 6.8 years by net le ...

2 days ago

Prada appoints former Luxottica chief Guerra as new CEO

ITALIAN fashion group Prada said on Friday (Jan 27) it appointed former Luxottica chief Andrea Guerra as its new chief executive officer, taking the place of Patrizio Bertelli and Miuccia Prada as planned.