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
Trump approves Keystone XL pipeline, hails 'great day' for jobs
True to his pledge, President Donald Trump gave final approval on Friday (Mar 24) for TransCanada to build the controversial Keystone XL oil pipeline, overriding environmental concerns in favour of boosting jobs and energy supply.
21 hours ago
Wall Street edges up as healthcare bill in doubt
U.S. stocks edged up in choppy trading on Friday as investors braced for the outcome of a vote on a healthcare bill and considered how its potential failure might affect President Donald Trump's broader economic agenda.
21 hours ago
Trump touts Charter hiring that was in works for two years
U.S. President Donald Trump on Friday touted Charter Communications Inc's decision to invest US$25 billion in the United States and a plan the company announced before he was elected to hire 20,000 workers over four years.
22 hours ago
French Mercedes owners take legal action after German emissions probe
Today - PARIS - Three French Mercedes car owners filed legal complaints against the carmaker's parent Daimler on Friday, alleging consumer fraud in relation to diesel engine emissions, following the opening of a formal investigation by prosecutors...
22 hours ago
SocGen seeks to make top management structure leaner
Today - PARIS - France's Societe Generale is seeking to make its top management structure leaner to better answer its clients' needs, a spokeswoman for the bank said on Friday. The bank "confirms it considers the implementation of a new...
22 hours ago
Exclusive: Venezuela increased fuel exports to allies even as supply crunch loomed
Today - HOUSTON/CARACAS - A gasoline shortage in OPEC member Venezuela was exacerbated by an increase in government-sanctioned fuel exports to foreign allies and an exodus of crucial personnel from state-run energy company PDVSA [PDVSA.UL], according to internal...
22 hours ago
Number of newly-minted millionaires at Europe's big banks is shrinking
The number of employees earning more than a million euros or pounds at Europe's biggest banks fell sharply last year, another sign of the clout they have lost to U.S. rivals since the financial crisis.
22 hours ago
Wall St. pares gains as healthcare bill vote awaited
U.S. stocks pared gains in choppy trading on Friday as investors braced for the outcome of a vote on a healthcare bill that is seen as a test of President Donald Trump's ability to pass his legislative agenda through Congress.
23 hours ago
PPG chief snubbed by Akzo during Netherlands visit
A team of executives from U.S. paint maker PPG left the Netherlands on Friday without meeting their counterparts at Akzo Nobel during a two-day charm offensive to win support for their proposed takeover of their Dutch rival.
23 hours ago
Trump says Charter to invest US$25 billion in US, hire 20,000 workers
U.S. President Donald Trump on Friday touted Charter Communications Inc's decision to invest US$25 billion in the United States and its previously disclosed plan to hire 20,000 workers over four years.
23 hours ago
From crepes to cocktails: can Grand Marnier's new owner make the leap?
Italian drinks group Davide Campari has a tall order to fulfill: take a neglected old liqueur out of the kitchen, where it is used as a dessert topping, and turn it into a hot new cocktail trend.
23 hours ago
EU stalls Russian gas pipeline, but probably won't stop it
Russia has the European Union in a bind.
23 hours ago
Mnuchin says US growth prospects not fully reflected in markets
U.S. Treasury Secretary Steven Mnuchin said on Friday that he believes financial markets could improve "significantly" once they fully reflect the potential for U.S. economic growth from President Donald Trump's economic policies.
23 hours ago
Trump gives U.S. green light to Keystone XL pipeline
Today - WASHINGTON - President Donald Trump on Friday unveiled his administration's official go-ahead for the Keystone XL pipeline, a controversial project that was rejected by his predecessor, former President Barack Obama. "I'm pleased to announce...
23 hours ago
Trump says Charter to invest $25 billion in U.S., hire 20,000 workers
Today - WASHINGTON - President Donald Trump said on Friday that Charter Communications Inc has committed to investing $25 billion and hiring 20,000 workers over four years. At a White House event with Charter Communications CEO Thomas...
23 hours ago
EU stalls Russian gas pipeline, but probably won\'t stop it
Today - BRUSSELS/FRANKFURT - Russia has the European Union in a bind. The bloc is divided between eastern European and Baltic Sea countries that see a new pipeline carrying Russian gas across the Baltic making the EU a hostage to Moscow - and those in...
23 hours ago
From crepes to cocktails: can Grand Marnier\'s new owner make the leap?
Today - MILAN - Italian drinks group Davide Campari has a tall order to fulfill: take a neglected old liqueur out of the kitchen, where it is used as a dessert topping, and turn it into a hot new cocktail trend. Grand Marnier, a...
1 day ago
China's Zhonghong Zhuoye to buy Blackstone's stake in SeaWorld
SeaWorld Entertainment Inc said China's Zhonghong Zhuoye Group Co Ltd would buy Blackstone Group LP's stake in the embattled U.S.-based marine park operator, sending SeaWorld's shares up 10 percent in morning trading on Friday.
1 day ago
Trump greenlights Keystone XL pipeline, but other obstacles loom
U.S. President Donald Trump's administration approved TransCanada Corp's Keystone XL pipeline on Friday, cheering the oil industry and angering environmentalists who had sought for years to block it.
1 day ago
Wall St. rises as healthcare bill vote awaited
U.S. stocks traded higher on Friday as investors awaited the outcome of a vote on a healthcare bill that is seen as a test of President Donald Trump's ability to pass his legislative agenda through Congress.
1 day ago
PPG CEO leaves Netherlands, remains ready to meet with Akzo boards
Today - AMSTERDAM - The chief executive of PPG Industries has left the Netherlands after meeting with Akzo Nobel "stakeholders" to lobby for a merger of the two companies, a spokesman said Friday. CEO Michael McGarry...
1 day ago
Halliburton warns of first-quarter profit miss as costs rise
Today - Halliburton Co , the world's No. 2 oilfield services provider, warned that its first-quarter profit would likely miss analysts' expectations due to higher costs and weak demand in markets outside North America. Shares of the...
1 day ago
Singapore's manufacturing output up 12.6% in February
The growth was boosted by the electronics cluster, which grew 39.8 per cent year-on-year last month, EDB says.  
1 day ago
Wall St. opens higher; healthcare bill vote awaited
Wall Street opened higher on Friday, helped by a rise in technology shares and ahead of a closely watched vote on a healthcare bill seen as a test of President Donald Trump's ability to pass his legislative agenda through Congress.
1 day ago
Pan-United regroups forex translation differences in FY16 results
Lee Meixian - PAN-UNITED Corporation on Friday filed a corrigendum for its full-year financial statement for FY2016, saying that it has decided to group the realisation of the foreign currency translation differences of S$4.3 million over the disposal of its tug and barge business, together with the FY2016 operating losses from the tug and barge business.
1 day ago
US core capital goods orders dip, but shipments surge
New orders for key U.S.-made capital goods unexpectedly fell in February, but a surge in shipments amid demand for machinery and electrical equipment supported expectations for an acceleration in business investment in the first quarter.
1 day ago
Robots seen taking 30 percent of UK jobs with women at lower risk: study
[LONDON] Up to one-third of British jobs could be taken over by robots by the early 2030s, impacting 10 million Britons but with women less likely to face redundancy, a UK study showed on Friday.
1 day ago
TransCanada gets presidential permit for Keystone XL pipeline
Today - TransCanada Corp said on Friday the U.S. Department of State issued a presidential permit for the construction of the Keystone XL oil pipeline, a project blocked by former President Barack Obama. President Donald Trump will make...
1 day ago
EIB asks French diesel inquiry to probe Renault\'s use of loans
Today - PARIS - The European Investment Bank has asked French investigators to find out whether 800 million euros ($863 million) of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by...
1 day ago
Wall St opens higher; healthcare bill vote awaited
Today - Wall Street opened higher on Friday, helped by a rise in technology shares and ahead of a closely watched vote on a healthcare bill seen as a test of President Donald Trump's ability to pass his legislative agenda through Congress. It was not...
1 day ago
Government to assist companies develop new products and services for export: DPM Teo
PC Lee - SINGAPORE (March 24): The government will assist them to develop new products and services which can be exported to overseas markets enable firms to tap growth opportunities, said Deputy Prime Minister Teo Chee Hean on Friday. Enhancing partnerships with growing economies such as India and China will also enable companies here to collaborate on joint projects. For example, companies here can venture into markets along China’s “Belt and Road” initiative – a trade corridor spanning across Central Asia to the Middle East and Europe. Speaking at the Singapore International Chamber of Commerce (SICC) 180th anniversary gala dinner, Teo also pointed out that the new Global Innovation Alliance – announced in this year’s Budget – will give Singaporeans, including tertiary students, overseas experience so that they can build connections in global innovation hubs. Building a pipeline of talent is a “key factor for companies to grow their operations from Singapore”. “We will continue to strengthen our tripartite partnership - employers, trade associations and chambers, unions and workers and the Government - coming together and putting ideas into action,” said Teo. To support tertiary students to gain overseas exposure, the SICC announced during the dinner that it would be making a $400,000 donation each to the Singapore Management University (SMU) and the Singapore University of Technology and Design (SUTD). The government will match the donations. For SMU, the money will be used for the SICC International Exchange Scholarship, which will be given to three undergraduates in each academic year. They will spend a semester studying at overseas universities, including the Wharton School in University of Pennsylvania. SMU said 47 students had benefited from the scholarship since it was introduced in 2005. SUTD will use the donation to establish the SICC Global Exchange Award. With up to six undergraduates to receive the award each year, it will help to defray their expenses when they go for overseas exchange programmes, which will run between three and 16 weeks. Singapore must remain attractive for companies to invest in the country, help firms seize new growth opportunities and further develop its workforce, said Teo. Teo said strengthening the country’s telecommunication and transportation networks can boost its “value proposition” as a base for companies to tap the regional market. At present, the republic is in the midst of rolling out its Smart Nation initiative, building a fifth terminal at Changi Airport – which will double its passenger capacity – and developing a new container port at Tuas. An existing comprehensive network of 20 Free Trade Agreements with 31 trading partners, including Asean and key economies such as the United States and China, will also ease and lower the cost of doing business in those countries from Singapore. Winners of the 2017 SICC Awards 1. Most Transformational Collaboration Winner Made in Singapore for Asia PacificBy Kimberly-Clark Asia Pacific + Essential Engineering & Construction This award honours the collaboration that results in the biggest gains either by or both the large organisation and the SME in the areas of increased capacity, value creation, productivity improvements, revenue growth and/or return on investments. Kimberly-Clark (K-C) collaborated with homegrown SME Essential Engineering (EEC) to produce one of its biggest global innovations, Huggies Baby Wipes, using its patented, advanced and automated technologies – not just for Singapore but for export to 11 countries in the Asia Pacific. Designed and executed in Singapore, the solution leveraged EEC’s strength in the Food and Pharmaceutical industries, to create a world-class system for the new manufacturing line. This transformational collaboration helped K-C reduce costs by 21%, save 25% of man hours and accelerate project completion. 2. Most Scalable Collaboration Winner The Brownstone Executive CondominiumBy Canvey Developments + Teambuild Engineering & Construction This award recognises the collaboration the methodology or process of which can be most easily transferred within the same industry and/or across industries. Leading eco-developer City Developments, together with its project partners TID and TeamBuild Engineering & Construction adopted the groundbreaking Prefabricated Pre-finished Volumetric Construction (PPVC) advanced technology for The Brownstone Executive Condominium (EC) in Sembawang. In PPVC, building modules completed with finished, fixtures and fittings are manufactured off-site in factories then transported to the site for installation in a ‘Lego-like’ manner. This is expected to lead to productivity gains of over 40%. More than 4,000 building modules will be used for The Brownstone, likely the world’s largest and first-of-its-kind application of concrete PPVC for a large-scale private residential development. 3. Most Technologically Disruptive Collaboration Winner Collaboration Towards Smart Factory Using Autonomous Guided VehiclesBy Infineon Technologies AP + Hope Technik This award honours the collaborative project that best harnesses the power of technology to positively disrupt the status quo to innovate processes, products or services and, thus, create new value for the collaborators and their customers. Adopting capabilities of modern technology advancement to reduce the reliance of human resource for labour intensive and low value processes – Infineon is moving in this direction to sustain its presence in a high cost society like Singapore. This led to a collaboration between Infineon, and a local SME, HOPE Technik, to introduce Autonomous Guided Vehicles to automate material transportation within the factory. This is the first of a kind for assembly manufacturing in Singapore and for Infineon assembly factories worldwide as well as a key cornerstone in Infineon Singapore’s journey to transform itself into a Smart Factory of the future. 4. Most Green Collaboration Winner Packaging Re-Design “Holistic Carbon Footprint Reduction & Productivity Improvement”By Leica Instruments Singapore + Fagerdala Singapore This award primarily celebrates the collaborative project that results in the most positive impact on the environment achieved by utilising the integrated design process in building design and construction. This award is also open to all collaborations which achieve a reduced carbon footprint or less pollution, or resource conservation or waste reduction or wildlife preservation. Leica Singapore and Fagerdala Singapore collaborated on a joint Value Analysis, Value Engineering (VAVE) project to improve product packaging for Leica microscopes, "CATS" and "SPIDER". This project created an innovative packaging solution that reduced transportation and material cost while improving workflow productivity. The re-designed packaging is also more environmentally friendly and leaves a smaller carbon footprint.  For 6 months, the team embarked on a Lean journey to drive improvement in areas of quality, delivery, cost, inventory and productivity. While Leica trained Fagerdala on Danaher Business System (DBS) quality tools to ensure common understanding of project methodologies and expectations, Fagerdala also shared their expert knowledge in packaging with Leica. Both companies gained new insights and knowledge from the project on top of award winning packaging solutions.
1 day ago
EIB asks French diesel inquiry to probe Renault's use of loans
The European Investment Bank has asked French investigators to find out whether 800 million euros (US$863 million) of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by Reuters.
1 day ago
Blackstone sells stake in SeaWorld to China's Zhonghong Zhuoye
China-based Zhonghong Zhuoye Group Co Ltd will buy Blackstone Group LP's 21 percent stake in SeaWorld Entertainment Inc , the embattled U.S.-based marine park operator said on Friday.
1 day ago
Putin meets France's Le Pen in Moscow
[MOSCOW] President Vladimir Putin met France's far-right presidential candidate Marine Le Pen as she visited Moscow on Friday, with the Russian leader stressing that the Kremlin does not meddle in French politics.
1 day ago
Markets hanging on US healthcare bill fallout
All eyes in financial markets were fixed on stuttering Republican efforts to pass a replacement for Obamacare on Friday, the result of the vote and Donald Trump's response seen as crucial to his promise to deliver a "phenomenal" tax reform.
1 day ago
Exclusive: EIB asks French diesel inquiry to probe Renault's use of loans
The European Investment Bank has asked French investigators to find out whether 800 million euros (US$863 million) of EU-backed loans to Renault could have been used to develop test-cheating diesel engines, according to documents seen by Reuters.