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

Singapore Stock Market News Singapore Business News Singapore Market Updates

11 hours ago

Mahindra scraps SsangYong investment plan due to COVID-19 crisis

Rachel Mui - India's Mahindra and Mahindra Ltd will not invest further in its struggling South Korean unit SsangYong Motor Co , the company said on Friday, as automakers try to save cash in an effort to ride out the coronavirus crisis.

11 hours ago

US biofuels industry seeks bailout to weather 'collapsing demand': letter

Rachel Mui - The U.S. biofuel industry has asked the Trump administration for funds from the U.S. Department of Agriculture's Commodity Credit Corporation to help it survive a demand slump triggered by the coronavirus outbreak, according to a letter seen by Reuters.

11 hours ago

Italy looks to safeguard biomedical valley leading fight against COVID-19

Rachel Mui - Italy plans to tighten health checks to ensure that work is not disrupted in a small northern town specialising in the production of medical supplies to tackle its coronavirus crisis.

11 hours ago

Lockheed Martin adds jobs, increases supplier payments to counter coronavirus impact

Rachel Mui - Defense contractor Lockheed Martin Corp said on Friday it hired about 1,000 employees in the last two weeks and increased payments to suppliers to counter the impact from the coronavirus pandemic.

11 hours ago

Here's how the US's Main Street bailout program is going so far

Rachel Mui - The Trump administration's bailout program for small and mid-sized businesses, which aims to keep companies that employ 60 million Americans afloat despite widespread shutdowns related to the new coronavirus, launched on Friday.

11 hours ago

Wall Street dips as record job growth ends

Rachel Mui - U.S. stock index futures fell on Friday, with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus.

11 hours ago

SGX says stock market will remain open amid closure of non-essential services

Jeffrey Tan - SINGAPORE (April 3): The Singapore Exchange (SGX) says its securities and derivatives markets will remain open and accessible to investors. This is in line with Prime Minister Lee Hsien Loong’s speech earlier today that essential services will continue as usual, though non-essential services are ...

12 hours ago

Singapore has sufficient telco capacity, says IMDA

Olivia Poh - THE Infocomm Media Development Authority (IMDA) on Friday said that Singapore has sufficient telecommunications capacity to cope with an increased demand.

12 hours ago

Explainer: When community transmission can be considered ‘widespread’

razalia -

12 hours ago

SGX will stay open and accessible

Angela Tan - SINGAPORE Exchange (SGX) on Friday said its securities and derivatives markets will remain open and accessible, despite <a href="https://www.businesstimes.com.sg/government-economy/most-workplaces-must... target="_blank">Singapore closing most workplaces</a> for one month ...

12 hours ago

Exclusive: Airline crisis forces Airbus to consider A320 output cuts

Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter said.

12 hours ago

US services sector growth slows; employment drops: ISM

U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop.

12 hours ago

Venezuela's financial crisis exacerbated by oil price war, coronavirus

Kelly Ng - A price war between world oil producers has slashed Venezuela's revenue for its top export and exacerbated the country's financial crisis as it also faces the coronavirus pandemic, U.S. sanctions and sliding crude output.

12 hours ago

Covid-19: Three new clusters identified, including Singapore Cricket Club, a bar at MBS

siewfern -

12 hours ago

China releases US$56 billion to banks in COVID-19 response

Kelly Ng - BEIJING: China's central bank said on Friday (Apr 3) it would cut the reserve requirements for smaller banks to release around 400 billion yuan (US$56.3 billion) in liquidity, a move to counter the coronavirus impact on enterprises. The People's Bank of China (PBOC) said in a statement it will ...

12 hours ago

OCBC temporarily shuts almost half of its branches, other banks set to follow suit

razalia -

12 hours ago

LHT gets nod to resume ops in Malaysia

Olivia Poh - LHT Holdings, a manufacturer of wooden boxes and pallets, on Friday said it has resumed operations in its manufacturing facilities in Malaysia.

13 hours ago

Wall Street opens lower as record jobs growth ends

Rachel Mui - U.S. stock index futures fell on Friday, with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus.

13 hours ago

OCBC to close 22 branches from April 9 to May 4; Citi to close another four branches

Kelly Ng - OCBC will close 22 of its Singapore branches from April 9 to May 4, in anticipation of reduced footfall following the government’s latest move urging people to stay home and adhere to tightened social distancing measures to curb the spread of Covid-19.&nbsp;

13 hours ago

OCBC to close 22 branches from April 9 to May 4

Kelly Ng - OCBC will close 22 of its Singapore branches from April 9 to May 4, in anticipation of reduced footfall following the government’s latest move urging people to stay home and adhere to tightened social distancing measures to curb the spread of Covid-19. 

13 hours ago

Essential businesses will stay open even as most workplaces are to close from next Tuesday

SINGAPORE: Businesses in essential services, such as healthcare, transport, logistics and food and beverage (F&B), will continue operations when the enhanced safe distancing measures requiring most workplaces to be shut kick in next Tuesday (Apr 7). Prime Minister Lee Hsien Loong announced the ...

13 hours ago

Most workplaces to close for one month from Apr 7 to curb spread of COVID-19

SINGAPORE: All workplaces except for those providing essential services and those able to operate remotely will be suspended from Apr 7 to May 4 during a month-long "circuit breaker" campaign to curb further spread of COVID-19, said Manpower Minister Josephine Teo on Friday (Apr 3).  Previously .. ...

13 hours ago

Coronavirus sinks US payrolls, more pain awaits

Rachel Mui - The U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway.

13 hours ago

Wall Street set to open lower as record jobs growth halts

Rachel Mui - U.S. stock index futures fell on Friday, with investors awaiting data on non-farm payrolls and business activity to assess the extent of the economic hit from the coronavirus.

13 hours ago

US small banks have processed more than 700 small business relief loans for US$2.5 million: Mnuchin

Fiona Lam - U.S. Treasury Secretary Steven Mnuchin said on Friday that community banks have processed hundreds of small business loans aimed at shoring up the economy amid the global coronavirus pandemic, and sounded a positive note about a new program that lenders have greeted with skepticism.

13 hours ago

3M to increase production of face masks after Trump order

Fiona Lam - 3M Co said on Friday it would continue to increase the production of respirators, after US President Donald Trump announced he was invoking the Defense Production Act to get the company to manufacture more face masks.

13 hours ago

Crisis haunts British banks in coronavirus relief effort

With the future of many coronavirus hit firms in their hands, British banks, still scarred by the financial crisis, are worried that they are being asked by a desperate government to make loans that will never be repaid.

13 hours ago

Singapore's March factory sentiment falls to lowest since Feb 2009

Annabeth Leow - SINGAPORE’S early factory activity barometer dropped deeper into negative territory in March, as the deadly Covid-19 pandemic worsened, according to industry figures released on Friday.

14 hours ago

Europe's north-south lockdown divide revealed by Google data

Fiona Lam - Italy and Spain, the two European countries hardest hit by the new coronavirus, have enforced the most drastic lockdowns to curb the pandemic but one country, Sweden, stands out for allowing life to go on much as before, Google data show.

14 hours ago

Leasing company Avolon cancels order for 75 Boeing MAX jets, 4 Airbus A330s

Fiona Lam - Aircraft lessor Avolon has cancelled an order for 75 Boeing 737 MAX planes that were due to be delivered by 2023 as it adjusts its order book to the industry disruption caused by the coronavirus pandemic, the Dublin-based firm said on Friday.

14 hours ago

SoftBank's Son tests state of emergency appetite via Twitter poll

SoftBank Group Corp founder and CEO Masayoshi Son on Friday began polling his Twitter followers over whether a state of emergency should be declared, as the number of people in Tokyo infected with the coronavirus continues to rise.

14 hours ago

Covid-19: SAF defers all in-camp training, IPPT for NSmen until May 4; some servicemen to work from home

asyrafkamil -

14 hours ago

STI rebound fails but establishes resistance at 2,561

Goola Warden - SINGAPORE (April 4): The rebound that took place in the week of March 23–27 failed to get past 2,561 reached on March 27, establishing this as a resistance level. Daily chart with oversold quarterly momentum It is also within the area that the Straits Times Index broke down from in February, whic ...

14 hours ago

'Mom & Pop' shops worry they will be squeezed out of small business coronavirus aid

Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a US$349 billion pot of money the US government will offer businesses hard-hit by coronavirus.

14 hours ago

China probes alleged fraud at Luckin Coffee, banks review IPO work

Fiona Lam - China's securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc , and sources said some of the banks involved in the Chinese chain's successful US IPO last year were reviewing their work in the listing.

14 hours ago

Fiat Chrysler starts ventilator component output in Italy

Fiat Chrysler (FCA) has begun producing ventilator parts to help Italy's Siare Engineering boost its output of the medical equipment needed to treat patients during the coronavirus crisis, the carmaker said on Friday.