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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21 hours ago

Malaysia anti-graft regulator unfreezes Jawala's bank accounts

Tay Peck Gek - CATALIST-LISTED Jawala's Malaysian bank accounts - with balances of at least RM16.5 million (S$5.5 million) - have been unfrozen, following an order by the Malaysian Anti-Corruption Commission.

21 hours ago

Top Glove's Q2 profit dips 2.9% to RM105.8m on soaring finance costs

Tay Peck Gek - A JUMP in finance costs caused Top Glove's second-quarter net profit to edge lower by 2.9 per cent to RM105.8 million (S$35.3 million) from RM109 million.

21 hours ago

PSA's 2018 profit dips 2.3% to S$1.2b on higher depreciation, finance costs

Anita Gabriel - PORT and terminal operator PSA International's net profit dipped 2.3 per cent to S$1.2 billion in 2018, owing to higher depreciation and finance costs.

21 hours ago

Why Tencent missed the mark on profit by most in a decade

Lulu Yilun Chen - TENCENT Holdings Ltd posted a slump in fourth-quarter earnings on increased spending as its prized games business showed signs of recovery after a brutal 2018.

21 hours ago

Watches are the new bitcoin

Alex Williams - AS tattooed rockers, tech bros and Instagram influencers pile into the tweedy world of watch collecting, prices for sought-after classics from brands such as Rolex, Omega and Patek Philippe are shooting up. In some cases, they have doubled in just a couple of years.

22 hours ago

Autonomy founder Lynch set for US$5 billion Hewlett-Packard court showdown

Mike Lynch, once hailed as Britain's answer to Bill Gates, faces Hewlett-Packard (HP) in London's High Court on Monday in a multi-billion dollar showdown over the U.S. tech giant's purchase in 2011 of the Autonomy software business he founded.

22 hours ago

Pinterest files for IPO

Pinterest Inc, the owner of the image search website known for the food and fashion photos that its users post, filed for an initial public offering with U.S. regulators on Friday, looking to tap into a red-hot market for new issues.

22 hours ago

Google rival wants more details about Google's Android proposal

Vivienne Tay - Czech search engine Seznam urged Google on Friday to disclose more details about its plan to boost rival search apps in Android smartphones, saying it continued to lose users due to what it said were Google's anti-competitive practices.

22 hours ago

In foreboding sign for US economy, factory sector softens

U.S. manufacturing activity unexpectedly cooled in March, a troubling sign for the economy although the U.S. housing market showed signs lower interest rates were giving it a boost.

22 hours ago

Exclusive: EU to drop threat of Huawei ban but wants 5G risks monitored - sources

Vivienne Tay - The European Commission will next week urge EU countries to share more data to tackle cybersecurity risks related to 5G networks but will ignore U.S. calls to ban Huawei Technologies, four people familiar with the matter said on Friday.

1 day ago

Tiffany sticks to 2019 targets, helped by e-commerce; shares rebound

Vivienne Tay - Tiffany & Co narrowly missed Wall Street estimates for quarterly sales on Friday, two months after the luxury retailer signaled soft demand in the holiday season because of low spending by Chinese tourists and weakness in Europe and at home.

1 day ago

Change to 737 MAX controls may have imperiled planes, experts say

Vivienne Tay - Much like tapping the brake pedal in a car to disengage cruise control, a sharp tug on the controls of older models of Boeing Co's 737 used to shut off an automatic trim system that keeps the plane flying level, giving the pilot control.

1 day ago

Nokia plays down compliance issues after shares drop

Vivienne Tay - Finnish network equipment maker Nokia said on Friday it was looking into transactions at its former French rival Alcatel-Lucent which it acquired in 2016, after reporting possible compliance issues at the unit to U.S. authorities.

1 day ago

US Treasury curve inverts after PMI data misses estimates

Vivienne Tay - The spread between three-month Treasury bills and 10-year note yields inverted on Friday for the first time since 2007 after U.S. manufacturing data missed estimates.

1 day ago

Explainer: Why your cafe latte costs S$6

amanda.eber - NEO RONG WEI6 min 2 sec agoSINGAPORE — A cup of coffee in Singapore can cost S$1.20 in a kopitiam or S$6 at a hi

1 day ago

Watches of Switzerland has further US acquisitions in its sights

Vivienne Tay - Watches of Switzerland expects to make further acquisitions in the United States, which it first entered in 2017 with the purchase of jeweler Mayors, its chief executive told Reuters.

1 day ago

Chinese investment in Europe: A story of cash and concerns

Vivienne Tay - Chinese firms have plowed at least 145 billion euros ($164 billion) into Europe since 2010, but investment has been slowing recently as several European governments tighten rules on acquisitions by foreign firms.

1 day ago

Weak factories dent hopes for global economic recovery

Vivienne Tay - Manufacturers in Europe, Japan and the United States suffered in March as surveys showed trade tensions had left their mark on factory output, a setback for hopes the global economy might be turning the corner on its slowdown.

1 day ago

UK economy dodges no-deal Brexit hit, for now

Britain's economy has struggled beneath the weight of Brexit uncertainty for nearly three years, but many business leaders would probably be relieved just to have more of the same for the next few months.

1 day ago

Keppel O&M unit finalises semi rig construction contract from Awilco Drilling

Navin Sregantan - RIGBUILDER Keppel Corp's offshore and marine unit has finalised and entered into the repeat rig construction contract with Awilco Drilling worth about US$425 million.

1 day ago

US existing home sales surge, boosted by Fed's signal on rates

Anita Gabriel - U.S. home sales surged in February to their highest level in 11 months, a sign that a pause in interest hikes by the Federal Reserve was starting to boost the U.S. economy.

1 day ago

Made-in-Asean kopi goes under the hammer in first-ever S’pore coffee auction

amanda.eber - NEO RONG WEI23 min 30 sec agoSINGAPORE — White bid placards in hand, over 40 people gathered in a hall at the Sand

1 day ago

NBA star Shaquille O'Neal joins Papa John's board

Anita Gabriel - Pizza chain Papa John's, trying to bounce back from a series of high-profile PR blunders, on Friday named basketball star Shaquille O'Neal as its newest board member and announced an US$8.25 million three-year endorsement deal with the four-time NBA champion.

1 day ago

Pinterest steps up planning for IPO, aims to list shares on NYSE in April: WSJ

Anita Gabriel - Image-search company Pinterest Inc has sped up the timing of its initial public offering, as it looks to tap into a red-hot market for new issues, the Wall Street Journal reported, citing people familiar with the matter.

1 day ago

Razer curtails losses in 2018 but analysts feel cash burn may continue

Hock Meng Tay - Street is discounting the impact of negative cash flow burn rates The post Razer curtails losses in 2018 but analysts feel cash burn may continue appeared first on DealStreetAsia.

1 day ago

Lazada, Mastercard in 5-year partnership to develop e-commerce ecosystem in S-E Asia

Navin Sregantan - ALIBABA-backed Lazada, and payments stalwart Mastercard have inked a five-year partnership to work together to grow the e-commerce ecosystem in South-east Asia, they said in a joint release on Friday.

1 day ago

Are black-and death-metal music fans misunderstood?

jiamei.lin - Nuria Ling54 min 59 sec ago “Why you listen to all this satanic music?

1 day ago

Boustead Projects inks JV deal to develop aerospace, high-tech park in Subang

Navin Sregantan - BOUSTEAD Projects has entered into a joint-venture (JV) agreement with Malaysian-listed Malaysia Airports Holdings for the incorporation of a JV company to undertake the development of an aerospace and high-tech park within the Subang Aerotech Park in Subang, Malaysia.

1 day ago

Nokia shares dive on potential Alcatel-Lucent compliance issues

Anita Gabriel - Finnish network equipment maker Nokia said on Friday it was looking into transactions at its former French rival Alcatel-Lucent which it acquired in 2016, after reporting possible compliance issues at the unit to U.S. authorities.

1 day ago

ERA rolls out S$1m startup grant to attract new real estate agents

Nisha Ramchandani - ERA Realty Network has announced a S$1 million startup grant to help offset joining fees for new real estate salespersons joining the industry.

1 day ago

Tiffany holiday-quarter sales miss expectations on weak tourist spending

Janice Heng - Tiffany & Co narrowly missed Wall Street estimates for quarterly sales on Friday, two months after the luxury retailer signaled soft demand in the holiday season because of low spending by Chinese tourists and weakness in Europe and at home.

1 day ago

Fitch cuts Singtel outlook to 'negative' on Bharti rights issue, weaker growth

Annabeth Leow - MAINBOARD-LISTED Singtel's long-term default outlook has been cut to "negative" by Fitch Ratings, weeks after credit agency Moody's did the same.

1 day ago

Vietnam jails two former oil execs for 'abuse of power' in Ocean Bank graft case

Janice Heng - A Hanoi court jailed two former senior oil executives on abuse of power charges Friday, as Vietnam forges ahead with a crackdown on graft.

1 day ago

Deutsche Bank CEO paid US$8 million, top managers get first bonuses in four years

Janice Heng - Deutsche Bank paid its management board members their first bonuses in four years in 2018, with Christian Sewing's 7 million euro (US$8 million) total pay package making him one of the best paid chief executives in European banking.

1 day ago

China's new Silk Road gets bumpy as Xi visits Italy

Chinese President Xi Jinping kicks off a whistlestop European tour in Rome on Friday amid growing Western unease over Italy joining the ever-expanding Asian giant's new Silk Road project.

1 day ago

Thomas Cook to shut 21 stores and cut jobs in shift to online

British travel company Thomas Cook plans to axe 320 jobs and close 21 stores in its UK retail network to cut costs as consumers increasingly shop online, it said on Friday.