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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4 hours ago
Access to medicines at risk as Brexit clock ticks
TIME is running short for a Brexit agreement that will allow the free movement of medicines through the UK and the rest of the European Union.
4 hours ago
Brazil operations drag down Changi Airport Group's profits
Nisha Ramchandani - CHANGI Airport Group's post-tax profits fell to S$657 million in FY16/17 from S$784 million in the previous fiscal year, weighed down by an impairment loss of S$110 million for its overseas airport investments.
4 hours ago
M1's Q3 net profit down 4.8% at S$32.7m
Jacquelyn Cheok - HIGHER depreciation and interest expenses led to a 4.8 per cent fall in M1's net profit to S$32.7 million for its third quarter ended Sept 30, 2017, the telco announced on Monday.
4 hours ago
GIC to invest in Vietnamese mall operator's US$680m IPO
VINCOM Retail JSC, the Vietnamese mall operator backed by Warburg Pincus, has started taking investor orders for a domestic initial public offering that could raise as much as US$680 million.
4 hours ago
Survey shows SGX-listed companies need to improve investor relations websites
Wong Kai Yi - INVESTOR relations (IR) websites of Singapore Exchange (SGX)-listed companies have "room for improvement", says an April 2017 survey on 711 companies conducted by the Investor Relations Professionals Association (Singapore) (IRPAS) and IR digital solutions company EQS Group.
4 hours ago
Two Chinese bidders for CSE said to have pulled out
TWO of the three China-based bidders for the Chicago Stock Exchange (CSE) have withdrawn from the group trying to acquire the market, said a person familiar with the matter.
4 hours ago
Corporate digest
TEMASEK Holdings subsidiary Fullerton Fund Management has appointed Jenny Sofian as its next CEO with effect from Nov 1, 2017, replacing Ho Tian Yee who is Fullerton's interim CEO.
4 hours ago
Asian markets climb to highest in 10 years
Claire Huang - THE promise of a rosy growth for China at a pace of 7 per cent and a jump in oil prices drove regional equities rally on Monday, following Wall Street gains over the weekend.
4 hours ago
Brokers' take
Q3 2017 DPU (distribution per unit) dropped 1.8 per cent yoy to 23.1 per cent of our full-year forecast, which we consider to be within expectations albeit on the lower end. 9M 2017 DPU came up to 72.9 per cent of our full-year forecast.
4 hours ago
Euro falters after biggest weekly rise in a month
THE euro edged lower on Monday after posting its biggest weekly loss in a month though prices clung to well worn trading ranges before a central bank meeting next week where policymakers are set to unveil a plan to roll back its record stimulus policies.
5 hours ago
Mercedes recalls 400,000 UK cars on airbag fault
Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday.
5 hours ago
Dow, S&P 500, Nasdaq end at records as bank shares gain
NEW YORK: Wall Street stocks jumped to fresh records Monday (Oct 16), boosted by bank shares that were lifted by expectations that the Federal Reserve will again increase interest rates this year. All three major indices ended at records, with the Dow Jones Industrial Average rising 0.4 per cent ...
5 hours ago
U.S. wants end to Canada protection for dairy sector: source
Today - ARLINGTON, Va - U.S. negotiators at talks to update the North American Free Trade Agreement want Canada to dismantle its system of protections for the dairy and poultry sectors, a move Ottawa will reject, a source briefed on the matter said on Monday. ...
5 hours ago
Netflix subscriber adds beat St. as original shows pull in new viewers
Today - Video-streaming pioneer Netflix Inc added more subscribers than expected in the third quarter as original shows such as the latest season of "Narcos" helped attract more viewers. The company added 4.45 million subscribers in its international...
6 hours ago
Mercedes says recalls 400,000 UK cars on airbag fault
Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday.
7 hours ago
California extends ban on Wells Fargo business for at least another year
Today - California will extend sanctions against Wells Fargo & Co for at least another year, Treasurer John Chiang said on Monday, after the state suspended doing business with the bank in 2016 as punishment for a sales practices scandal. ...
7 hours ago
Striking Canadian union approves deal with GM
Today - MONTREAL - General Motors Co. on Monday welcomed the ratification of a new four-year agreement by unionized workers at its SUV plant in Ontario, Canada, ending a near month-long strike. The U.S. auto giant and the union reached a...
7 hours ago
Tough U.S. NAFTA demands send ball back into lobbyists' court
Today - ARLINGTON, Va. - Lobbying efforts on the North American Free Trade Agreement hit a crucial stage this week after the Trump administration ignored the U.S. business community's advice and pitched proposals to radically reshape NAFTA, leaving its future in...
8 hours ago
Light backing from State Street weighs on U.S. diversity drives
Today - BOSTON - State Street Corp has drawn praise for its efforts to put more women on corporate boards, notably the "Fearless Girl" statue it placed near Wall Street. But new records show the company did not throw its full weigh behind boardroom diversity...
8 hours ago
Wells Fargo brokerage to return $3.4 million for risky products
Today - NEW YORK - A brokerage industry regulator on Monday ordered Wells Fargo & Co to return $3.4 million (2.56 million pounds) to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has...
9 hours ago
Mexico finance minister says NAFTA uncertainty hitting peso
Today - MEXICO CITY - Mexico's Finance Minister Jose Antonio Meade said on Monday that the peso's recent depreciation reflects uncertainty about the NAFTA renegotiation process and questions about how quickly the U.S. Federal Reserve will normalize rates. ...
9 hours ago
Bombardier pursues options for aerospace division; no deal imminent: sources
Today - MONTREAL - Canada's Bombardier Inc is continuing to look at strategic options for its aerospace division but no deal is imminent, people familiar with the matter told Reuters on Monday, as the company seeks to shore up sales and improve...
9 hours ago
U.S. buyers favor iPhone 7 over 8: research
Today - Apple Inc's older iPhone 7 models are outselling the recently launched iPhone 8 ahead of the early November debut of the premium iPhone X, broker KeyBanc Capital Markets said, citing carrier store surveys. Traditionally, new editions of the...
10 hours ago
Blockchain startup Digital Asset raises US$40m
[NEW YORK] Digital Asset, a blockchain startup funded by some of the world's largest banks, has raised US$40 million as it expands globally.
10 hours ago
US warns of security flaw which can compromise Wi-Fi connections
[WASHINGTON] The US government's computer security watchdog warned Monday of a security flaw in Wi-Fi encryption protocol which can open the door to attacks to eavesdrop on or hijack devices using wireless networks.
10 hours ago
Daimler recalls 400,000 cars in Britain amid global measure
Today - BERLIN - Daimler is recalling 400,000 Mercedes-Benz cars in Britain and a few hundred thousand in Germany as part of a global recall caused by a potential airbag safety issue, it said. Conducting paths related to affected...
10 hours ago
Colony Capital in talks buy Weinstein Co
NEW YORK: The Weinstein Company has entered talks to sell the bulk of its assets to private equity firm Colony Capital, the companies said on Monday, as the film production company looks for stability after the departure of co-founder Harvey Weinstein. The announcement about the deal talks comes ...
10 hours ago
Nordstrom family suspends attempt to take retailer private
Today - Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season. The company's shares were...
11 hours ago
Kobe Steel shares hit near five-year lows as cheating scandal raises financial risks
Today - TOKYO - Just over a week out from revelations of a cheating scandal that plunged Kobe Steel Ltd in crisis and ensnared hundreds of firms, the embattled steelmaker's shares skidded to five-year lows on Monday as investors worried about the financial and legal...
11 hours ago
London house prices fall most since financial crisis
[LONDON] London house prices are falling at their fastest pace since the financial crisis, confirming the British capital as the worst-performing part of a slowing market.
11 hours ago
FINRA orders Wells Fargo to pay clients $3.4 million over sales practice issues
Today - NEW YORK - The Financial Industry Regulatory Authority on Monday ordered Wells Fargo & Co.'s clearing services and Wells Fargo Advisors Financial Network to pay customers $3.4 million in restitution for sales practice issues related to...
11 hours ago
FINRA orders Wells Fargo to pay clients US$3.4 million over sales practice issues
The Financial Industry Regulatory Authority on Monday ordered Wells Fargo & Co.'s clearing services and Wells Fargo Advisors Financial Network to pay customers US$3.4 million in restitution for sales practice issues related to unsuitable recommendations of certain investment products.
11 hours ago
Fake paperwork, poor parts challenge China's aerospace boom
Chinese suppliers to U.S. flight control systems maker Moog sold it poorly made parts, faked paperwork and outsourced work to a factory not approved by the company, according to an internal report by U.S. aviation regulators.
11 hours ago
China offers to buy 5% of Saudi Aramco directly: Sources
China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world's biggest oil producer on the stock market.
11 hours ago
Wall Street hits fresh record on financial, tech gains
Major Wall Street indexes hit fresh records at the open on Monday on gains in financial and technology stocks even as investors awaited a slew of earnings reports this week.
11 hours ago
Exclusive: China offers to buy 5 percent of Saudi Aramco directly - sources
Today - DUBAI/LONDON - China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world's biggest oil producer on the stock market. ...