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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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.

2 days ago

Starhill Global Reit posts 2.2% rise in H1 FY22/23 DPU

Elysia Tan - STARHILL Global Reit posted a distribution per unit (DPU) that was 2.2 per cent higher at S$0.0182 for the first half of FY2022/2023 ended Dec 31, 2022 – higher than the S$0.0178 in the corresponding year-ago period.

2 days ago

India's Vedanta profit plummets 41% on soft metal prices

INDIAN metals-to-oil conglomerate Vedanta reported a near 41 per cent drop in third-quarter profit on Friday (Jan 27), hit by a fall in commodity prices.

2 days ago

Chevron posts record profit, bolstering US$75b buyback plan

CHEVRON pushed full-year profit to a record on the back of surging commodity prices and domestic oil production, generating unprecedented cash flow that will underpin a mammoth US$75 billion share-buyback programme.

2 days ago

Market could take breather after STI moves above key resistance

Goola Warden - The year of the rabbit got off to a good start with the Straits Times Index breaking above a five times tested resistance at 3,306 indicating an upside of around 3,600. In the short-term, indicators maybe approaching the top end of their range. In addition, the STI has risen by 101 points since Jan ...

2 days ago

AmEx misses profit estimate as loan-loss provisions weigh

AMERICAN Express missed market estimates for fourth-quarter profit on Friday as the credit card giant stockpiled more rainy-day funds to prepare for a worsening economy, wrapping up a turbulent quarter for major US card companies.

2 days ago

India's Adani slammed by US$48 billion stock rout, clouding record share sale

SHARES of India’s Adani Enterprises sank 20 per cent on Friday (Jan 27) as a scathing report by a US short seller triggered a rout in the conglomerate’s listed firms, casting doubts on how investors will respond to the company’s record US$2.45 billion secondary offer.

2 days ago

India's Adani slammed by US$48b stock rout, clouding record share sale

SHARES of India’s Adani Enterprises sank 20 per cent on Friday (Jan 27) as a scathing report by a US short seller triggered a rout in the conglomerate’s listed firms, casting doubts on how investors will respond to the company’s record US$2.45 billion secondary offer.

2 days ago

Intel's 'historic collapse' set to erase $10 billion from market value

Intel Corp was set to erase nearly $10 billion in market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market.The company predicted a surprise loss for the first quarter and its revenue forecast wa ...

2 days ago

Intel's 'historic collapse' triggers selloff in chip stocks

Five of the biggest U.S. chipmakers were set to erase nearly $15 billion in market value on Friday after Intel Corp stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market.The company predicted a surprise loss for the first quarter and its r ...

2 days ago

Intel's 'historic collapse' sparks selloff in chip stocks

Intel Corp stumped Wall Street with a dismal first-quarter outlook, triggering a rout in shares of chipmakers on Friday and prompting some analysts to raise concerns about its cash position in a semiconductor downturn.The company's shares were down 10 per cent in premarket trading after Intel p ...

2 days ago

Intel's 'historic collapse' set to erase US$10 billion from market value

Intel was set to erase nearly US$10 billion in market value on Friday (Jan 28) after the US chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue foreca ...

2 days ago

GM, Ford must convince investors they can profit as prices fall

GENERAL Motors (GM) and Ford Motor are expected to report strong profits for 2022 next week, powered by premium-priced pickup trucks and sports utility vehicles (SUVs).

2 days ago

Analysis:Google faces greater threat of forced ad unit sale from US lawsuit

The U.S. government is more likely to force Google to divest a key business with an antitrust lawsuit it filed this week than a group of states that has pursued a similar case for three years, legal experts said. The complaint filed Tuesday in a Virginia federal court by the U.S. Department of Justi ...

2 days ago

Nissan and Hitachi look to charge elevators with EV batteries

TOKYO : Japanese carmaker Nissan Motor Co Ltd and a Hitachi Ltd subsidiary said on Friday they plan to roll out a system to keep elevators running during blackouts by drawing power from the batteries of electric vehicles (EVs).Few cars today are capable of bi-directional charging, where vehicles can ...

2 days ago

H&M highlights fast-fashion gloom as luxury takes hit in China

LONDON : H&M said on Friday soaring costs had slashed its profits, the latest fast-fashion retailer to feel the pinch as consumers cut back, while LVMH and Salvatore Ferragamo revealed the damage to luxury sales caused by China's COVID-19 policies.Shares in H&M, the world's No. 2 f ...

2 days ago

Crypto billionaire Wu cuts jobs at one firm, loses CEO at other

BILLIONAIRE Jihan Wu is reshuffling the leadership of his asset manager while shedding 10 per cent of staff at his digital-currency lending firm, the latest signs of turmoil in the crypto industry.

2 days ago

German web hosting firm Ionos targets IPO value of up to US$3.4b

GERMAN web hosting firm Ionos is targeting a market capitalisation of up to 3.15 billion euros (S$4.5 billion) in Europe’s first major initial public offering (IPO) since sports-car maker Porsche last September.

2 days ago

Rental reversions for Keppel Reit’s Singapore CBD offices hit 23.4% in Q4

Wong Pei Ting, Benjamin Cher - KEPPEL Reit secured rental reversions of 23.4 per cent for its office assets in Singapore’s central business district (CBD) in the fourth quarter of 2022, bringing its portfolio’s reversions for the full year to 10 per cent, its head of asset management Rodney Yeo said.

2 days ago

Keppel Reit FY2022 DPU rises 1.7% to S$0.0592

Benjamin Cher - KEPPEL Reit on Friday (Jan 27) posted a 1.7 per cent increase in distribution per unit (DPU) to S$0.0592 for FY2022 ended Dec 31.

2 days ago

Chip stocks extend gains in Asia, defying Intel’s sales warning

ASIAN semiconductor stocks rose on Friday (Jan 27), dismissing one of the worst outlooks from stalwart Intel as investors look towards an eventual recovery in the sector.

2 days ago

Daily Debrief: What Happened Today

Stories you might have missed

2 days ago

Weather rains on restaurants’ parade as customers keep away

Business at two eateries with al-fresco areas has dropped by about 20 per cent.  

2 days ago

Keppel REIT reports 2HFY2022 DPU of 2.95 cents, up by 2.4% y-o-y

Felicia Tan - The manager of Keppel REIT has reported a distribution per unit (DPU) of 2.95 cents for the 2HFY2022 ended Dec 31, 2022. The DPU for the second half of the FY2022 stood 2.4% higher than 2HFY2021’s DPU of 2.88 cents.The REIT’s DPU for the FY2022, meanwhile, grew by 1.7% y-o-y to 5.92 cents, up fr ...

2 days ago

Reits lead Singapore stocks higher on Friday; STI notches 4-day winning streak

Raphael Lim - SINGAPORE stocks rose for a fourth consecutive day on Friday (Jan 27), ending the week higher amid a broader rally across the region.

2 days ago

Apple’s iPhone dominated China last quarter despite disruptions

APPLE won its biggest quarterly market share in China, outrunning Covid disruptions and a global economic slowdown.

2 days ago

Housing market has slowed, government to monitor prices and borrowing: DPM Heng

Chong Xin Wei - THE pace of property price increases in the last quarter has slowed and sales volume is down after fresh cooling measures kicked in last year, but the government will continue to watch prices and borrowing, said Deputy Prime Minister Heng Swee Keat.

2 days ago

Adani rout crosses US$50 bil as stocks plunge by daily limits

Bloomberg - The selloff in Gautam Adani’s corporate empire accelerated on Friday, erasing more than US$51 billion ($66.91 billion) of market value in less than two sessions as Asia’s richest man struggles to contain the fallout from a scathing report by US short-seller Hindenburg Research.The rout is piling ...

2 days ago

Competition watchdog clears proposed acquisition of WFS by Sats

Felicia Tan - The Competition and Consumer Commission of Singapore (CCCS) has cleared the proposed acquisition of Promontoria Holding 243 B.V by Sats International SAS.Promontoria Holding is a holding company that indirectly holds 100% of the shares in WFS Global Holdings S.A.S.WFS, or Worldwide Flight Services ( ...

2 days ago

Ex-CEO of A-Smart charged with breaching disclosure obligations

Benjamin Cher - THE former chief executive officer (CEO) of Xpress Holdings, now known as A-Smart Holdings, has been charged with 15 counts of breaching the disclosure obligations of a CEO or director and substantial shareholder under the Securities and Futures Act.

2 days ago

India market regulator increases scrutiny of Adani group: sources

INDIA’S market regulator has increased scrutiny of deals by the Adani Group over the past year and will study a report issued by short-seller Hindenburg Research to add to its own ongoing preliminary investigation into the group’s foreign portfolio investors, according to two sources aware of th ...

2 days ago

Latest Singapore Savings Bond undersubscribed; 10-year average return at 2.97%

Tan Nai Lun - THE latest Singapore Savings Bond (SSBs) allotted on Friday (Jan 27) attracted fewer applications than the amount offered, as the fiscal product’s 10-year average return fell below 3 per cent.

2 days ago

TDCX launches Digital CX Centre of Excellence in Singapore

Samantha Chiew - Customer experience (CX) solutions provider TDCX announced that it has on Jan 27 launched its first Digital CX Centre of Excellence in Singapore.The centre will focus on leveraging technology to develop CX solutions that enable hyper personalised, seamless and secure customer engagement in both phys ...

2 days ago

Young Chinese say real estate isn’t the nest egg it was once all cracked up to be

2 days ago

India's Adani begins record share sale as short seller triggers $44 billion rout

MUMBAI : Shares of India's Adani Enterprises sank 15 per cent on Friday as a scathing report by a U.S. short seller triggered a rout in the conglomerate's listed firms, casting doubts on how investors will respond to the company's record $2.45 billion secondary sale.Seven listed compa ...