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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8 hours ago

CPH to acquire Shanaya Environmental Services for S$22m

Natalie Choy - PRINTED circuit board manufacturer CPH has entered into a S$22 million conditional sale and purchase agreement with Shanaya Environmental Services to acquire 100 per cent of Shanaya's issued share capital from its directors.

8 hours ago

Lewis checks out at Britain's Tesco, leaving challenges for new CEO

Nisha Ramchandani - Dave Lewis steps down on Wednesday after six years as Tesco chief executive, during which he got Britain's biggest retailer back on track after an accounting crisis, leaving new challenges for his successor Ken Murphy.

8 hours ago

Tencent to take China's Sogou private in US$3.5 billion deal

Nisha Ramchandani - Sogou Inc said on Tuesday it would be taken private by shareholder Tencent Holdings Ltd for US$9 per share in cash, valuing the Chinese web search firm at about US$3.5 billion.

8 hours ago

Ghosn makes first public appearance in Lebanon in months

Nisha Ramchandani - Fugitive auto tycoon Carlos Ghosn made his first public appearance in months Tuesday to launch a business programme at a Lebanese university.

8 hours ago

Wall Street's IPO enemies ready one-two punch

There have only been two direct listings on the New York Stock Exchange in the last two years. There is about to be two more in a single day.

8 hours ago

Keppel launches major revamp, review of offshore and marine business

SINGAPORE: Singaporean conglomerate Keppel Corp said on Tuesday (Sep 29) it had identified assets worth S$17.5 billion that could potentially be monetised, including through sales, and started a review of its lossmaking offshore and marine (O&M) business. The plans unveiled on Tuesday are part of .. ...

8 hours ago

Exclusive: Google set to win EU okay for Fitbit deal with fresh concessions - sources

Alphabet unit Google has offered concessions for a second time in a bid to address EU antitrust regulators' concerns about its bid for fitness tracker maker Fitbit , a European Commission filing showed on Tuesday.

8 hours ago

Exclusive: Google set to win EU approval for Fitbit deal with fresh concessions, sources say

Alphabet unit Google is set to win EU antitrust approval for its US$2.1 billion acquisition of fitness tracker maker Fitbit with its latest concessions to address EU antitrust concerns, people familiar with the matter said on Tuesday.

8 hours ago

Keppel seeks to unlock value for S$3-5 billion of assets over next 3 years

Uma Devi - KEPPEL Corporation has identified assets valued at S$17.5 billion that can be "monetised over time and channelled towards growth initiatives". It will seek to unlock value for S$3 billion to S$5 billion worth of these assets over the next three years.

8 hours ago

Keppel seeks to unlock value for S$3-5B of assets over next 3 years

Uma Devi - KEPPEL Corporation has identified assets valued at S$17.5 billion that can be "monetised over time and channelled towards growth initiatives". It will seek to unlock value for S$3 billion to S$5 billion worth of these assets over the next three years.

8 hours ago

Keppel seeks to unlock value S$3-5B of assets over next 3 years

Uma Devi - KEPPEL Corporation has identified assets valued at S$17.5 billion that can be "monetised over time and channelled towards growth initiatives". It will seek to unlock value for S$3 billion to S$5 billion worth of these assets over the next three years.

8 hours ago

Exclusive: EU concessions include data pledge on Fitbit deal, Google says

Fiona Lam - Alphabet unit Google has offered a data pledge similar to a previous offer to EU antitrust regulators investigating its US$2.1 billion bid for fitness tracker maker Fitbit , the company confirmed on Tuesday.

8 hours ago

Meatpackers deny workers benefits for COVID-19 deaths, illnesses

Fiona Lam - Saul Sanchez died in April, one of six workers with fatal COVID-19 infections at meatpacker JBS USA's slaughterhouse in Greeley, Colorado, the site of one of the earliest and deadliest coronavirus outbreaks at a U.S. meatpacking plant.

8 hours ago

Shares lose ground as US presidential debate looms

Uma Devi - European shares slipped on Tuesday as investors awaited a pivotal U.S. presidential debate and watched for progress of a fiscal stimulus package in Washington.

8 hours ago

Exclusive: Britain hits Airbnb UK with extra US$2.3 million tax bill after probe

British authorities hit Airbnb UK with an extra tax bill of 1.8 million pounds (US$2.3 million) last year, the home rental startup's accounts showed on Tuesday, following an investigation into the firm.

9 hours ago

Envictus group CEO Khor Sin Kok resigns

Natalie Choy - ENVICTUS International Holdings on Tuesday said its group chief executive officer (CEO) Khor Sin Kok will resign on Oct 1 following the expiry of his leave of absence on Sept 30.

9 hours ago

Chinese company targets global sales with quick COVID-19 tests

Uma Devi - A Chinese company is entering the global race to help defeat the coronavirus, promising its testing machine will return results faster than a lab and more reliably than at-home screening kits.

9 hours ago

Bing, smaller firms, win Google's Android search auction in Europe

Uma Devi - Microsoft's Bing, PrivacyWall and Info.com were among the search engines that won a quarterly auction by Alphabet's Google to show up as search options on new Android devices in 31 European countries.

9 hours ago

'Bring back trust': Carlos Ghosn offers executive training in troubled Lebanon

Uma Devi - Carlos Ghosn, the former Nissan and Renault head who fled Japan where he was facing trial, is launching a university management and business programme in Lebanon, a nation mired in a deep crisis blamed on years of misrule, mismanagement and corruption.

9 hours ago

Tiffany says LVMH countersuit attempt to avoid full purchase price

Uma Devi - Tiffany & Co said on Tuesday LVMH's countersuit to drop its US$16 billion bid for the U.S. jeweler was just an attempt to evade paying the full purchase price.

9 hours ago

Google offers concessions in fresh bid to win EU okay for Fitbit deal

Vivienne Tay - Alphabet unit Google has offered concessions for a second time in a bid to address EU antitrust regulators' concerns about its bid for fitness tracker maker Fitbit , a European Commission filing showed on Tuesday.

9 hours ago

Keppel Corporation reaffirms Vision 2030, announces strategic review of its offshore & marine business

Felicia Tan - Keppel Corporation has reaffirmed its Vision 2030 and will roll out the next steps for its implementation, it said on September 29. See: DBS maintains Keppel Corp's 'buy' call after Vision 2030 announcement “The Board and Management are committed to drive Vision 2030 and realis ...

9 hours ago

STI retreats 0.5% alongside muted trading in Asian markets

Lee Meixian - THE Straits Times Index (STI) fell alongside muted trading in other Asian markets on Tuesday, retreating 11.4 points or 0.46 per cent to finish at 2,471.61. In all, about 1.22 billion securities worth S$1.06 billion changed hands, with losers outnumbering gainers 244 to 178.

10 hours ago

Redas president calls for ABSD reprieve for first-time upgraders

Kalpana Rashiwala - FOLLOWING the government's clampdown on Monday on the re-issuance of options to purchase (OTPs) by private housing developers, the head of the developers' body has urged the government to urgently consider allowing first-time upgraders from a HDB flat to a private property to defer paymen ...

10 hours ago

Citi to open largest wealth advisory hub in Singapore in December

Felicia Tan - Citi will open its largest wealth advisory hub dedicated to Citigold and Citigold Private Client customers in Singapore in December 2020. The hub is also targeting double digit growth in market share and its number of clients in the wealth segment over the next few years. The bank says the new hub i ...

10 hours ago

CapitaLand Mall Trust and CapitaLand Commercial Trust unitholders vote in favour of proposed merger

Natalie Choy - UNITHOLDERS of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Tuesday voted "resoundingly" in favour of the proposed merger of CMT and CCT to form a new real estate investment trust (Reit), though CCT unitholders had lower percentage approvals than CMT unitholders.

10 hours ago

Walmart in talks for up to US$25 billion investment in Tata's 'super app': Mint

Lee Meixian - Walmart Inc is in talks with Tata Group for an investment of up to US$25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter.

11 hours ago

'Make yourself invaluable': Carlos Ghosn offers executive training in troubled Lebanon

Lee Meixian - Carlos Ghosn, the former Nissan and Renault head who fled Japan where he was facing trial, is launching a university management and business programme in Lebanon, a nation mired in a deep crisis blamed on years of misrule, mismanagement and corruption.

11 hours ago

Analysts in favour of Mapletree North Asia Commercial Trust's Seoul acquisition

Felicia Tan - DBS Group Research, OCBC Investment Research, and CGS-CIMB have rated Mapletree North Asia Commercial Trust (MNACT) “buy” or “add” following MNACT’s acquisition announcement on September 25. The trust, together with its sponsor Mapletree Investments (MPIL), entered into a unit sale and pur ...

11 hours ago

ERA Singapore sells house in eight minutes at its first virtual property auction

RAE WEE - REAL estate agency ERA Singapore sold a two-and-a-half storey semi-detached house for S$3.4 million in eight minutes at its first virtual property auction on Monday.

11 hours ago

UniCredit names co-CFO Bianchi as head of wealth management

Lee Meixian - UniCredit said on Tuesday it had appointed Mirko Bianchi, currently co-chief financial officer, to lead the group's wealth management and private banking business, in the latest management reshuffle at the Italian bank.

11 hours ago

Goldman Sachs to launch foreign exchange pricing engine in Singapore

Natalie Choy - GOLDMAN Sachs on Tuesday announced that it will build an electronic foreign exchange (FX) pricing engine in Singapore to deliver low-latency execution for its clients.

11 hours ago

Nokia wins 5G radio equipment contract from Britain's BT

Nokia has clinched a deal with Britain's biggest mobile operator BT to supply 5G radio equipment, the Finnish company said on Tuesday, in one of the first major wins under new CEO Pekka Lundmark.

11 hours ago

Another childcare-related property for sale; EOI exercise at S$14.8m guide price

Vivienne Tay - A SECOND childcare-related property is up for sale this week, with consultancies calling such assets "rare".

11 hours ago

Philippines accuses Facebook of censoring pro-government content

Lee Meixian - The Philippines accused Facebook on Tuesday of censoring pro-government content which it said was tantamount to curtailing freedom of speech and called for new measures to regulate the social media giant to "level the playing field".

11 hours ago

MND launches digital cross-border trade platform for SMEs

Staff Reporter - Uploaded By:  Nathanielle Punay Submitted By:  Staff Reporter Case Study:  No SMEs can expect a more “seamless’’ cross-border trade. The Ministry of National Development (MND) has launched OneSME, a digital platform that will facilitate a better cross-border trade f ...