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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Mexicans sue Walmart over Texas shooting that left victims on both sides of border

Ten Mexican citizens have sued Walmart over the shooting at a store in the U.S. border town of El Paso, Texas, that killed eight Mexicans and left eight more injured, saying that Walmart did not do enough to protect its customers, Mexico said on Wednesday.

NODX decline narrows to 9.6% in Q3

Staff Reporter - Submitted By: Nathanielle Punay Case Study: No It is projected to further slide between 10% to 9.5%. The continuous decline in NODX has narrowed to 9.6% YoY in Q3, following the 14.7% dip in Q2, according to data from Enterprise Singapore. This was blamed on decreased shipments of both ...

City Dev, CapitaLand lead consortium to redevelop Liang Court site at Clarke Quay

Stanislaus Jude Chan - SINGAPORE (Nov 21): The iconic Liang Court site along River Valley Road has seen better days. But now, the 35-year-old property could get a facelift in a massive deal involving City Developments (CDL), CapitaLand, Ascott Residence Trust (Ascott REIT) and CDL Hospitality Trusts (CDLHT). Opened in 19 ...

Singapore shares decline at Thursday's open; STI down 0.86%

Vivienne Tay - SINGAPORE stocks opened weaker on Thursday following news of the government <a href="https://www.businesstimes.com.sg/government-economy/singapore-narrows-20... its full-year GDP growth forecast</a> for 2019 to 0.5 to 1 per cent.

Stocks to watch: CapitaLand, CDL, Ascott Reit, CDLHT, SPH Reit, GDS Global

Rachel Mui - THE following companies saw new developments that may affect trading of their shares on Thursday:

Trump considering whether Apple should be exempt from China tariffs

President Donald Trump said on Wednesday after touring a plant that assembles Apple Inc computers that he was considering whether to exempt the U.S. company from tariffs on imports from China.

CDL Hospitality Trusts to sell Novotel hotel for S$375.9m, buy W Singapore hotel for S$324m

Ng Ren Jye - CDL Hospitality Trusts (CDLHT) will sell Novotel Singapore Clarke Quay, part of a Liang Court site for redevelopment, for S$375.9 million and make an up-to-S$475 million forward purchase of a new hotel that will be part of the new integrated development.

SPH Reit launches private placement to raise at least S$161.5m

Vivienne Tay - SPH Reit has launched a private placement to raise at least S$161.5 million to partially fund its proposed A$670 million (S$627.9 million) acquisition of a 50 per cent stake in a shopping centre in South Australia.

Singapore narrows 2019 growth forecast to 0.5-1% as Q3 growth picks up

Daily Briefing: Three in four students expect starting pay of over $3,000; EPS to co-launch global maritime accelerator

Staff Reporter - Submitted By: Staff Reporter Case Study: No And Taiwan’s cloud provider CloudMile plans to enter Singapore in 2020. From HumanResourcesOnline: Three in four or 75.9% of Singaporean students expect more than $3,000 starting pay from their first job, according to a survey CareerBuil ...

Google to let sites block personalized ads under California privacy law

Ng Ren Jye - Websites and apps using Google's advertising tools will be able to block personalized ads to internet users in California and elsewhere as part of the Alphabet Inc unit's effort to help them comply with the state's new privacy law, it told clients this week.

Gojek said to be spinning out financial services arm

Sarah Yuniarni - Dkatalis is currently understood to be in the process of hiring employees across the region and moving Go-Finance staff to the new entity. The post Gojek said to be spinning out financial services arm appeared first on DealStreetAsia.

CapitaLand to sell The Star Vista for S$296 million to Rock Productions

SINGAPORE: Singapore-listed developer CapitaLand said on Wednesday (Nov 20) that it has agreed to sell The Star Vista for S$296 million to Rock Productions, the business arm of New Creation Church. The sale, which is scheduled to be completed by the end of this year, is expected to generate about .. ...

Former Twitter employee accused of spying for Saudis pleads not guilty

A former Twitter Inc employee accused of spying for Saudi Arabia pleaded not guilty on Wednesday in San Francisco, where he remains in custody.

Singapore trade and NODX growth forecasts trimmed after further declines in Q3

Chuang Peck Ming - NON-OIL domestic export (NODX) growth and total trade continued to fall in the third quarter, prompting the government to further trim its NODX and trade forecasts for 2019 to -4.5 to -4.0 per cent and -10.0 to -9.5 per cent respectively.

Singapore's Q3 manufacturing decline milder than feared; factory recovery expected in 2020

Annabeth Leow - ECONOMIC growth in the third quarter was spurred by a better-than-expected showing from Singapore factories, according to data on Thursday morning, as the gross domestic product picked up by 0.5 per cent year on year.

Investor body SIAS says Utico is making last-minute changes to Hyflux deal

Mars W. Mosqueda Jr. - The association said it is "seriously concerned" that there is no finality yet on Utico’s offer. The post Investor body SIAS says Utico is making last-minute changes to Hyflux deal appeared first on DealStreetAsia.

Apple supplier Japan Display says exec embezzled US$5.25 million

Ng Ren Jye - Japan Display Inc said on Thursday it dismissed an accounting executive last year for embezzling about US$5.3 million (£4.10 million) over four years since the Apple Inc supplier went public in 2014.

Alibaba to pay banks up to US$32.3 million in fees for Hong Kong listing

Alibaba will pay its investment banking syndicate up to US$32.3 million for leading its Hong Kong listing which will raise up to US$12.9 billion, according to documents filed with U.S. securities regulators.

CapitaLand, CDL, Ascott Reit to redevelop Liang Court into mixed-use complex

Fiona Lam - REAL estate heavyweights City Developments Limited (CDL), CapitaLand Limited and Ascott Residence Trust (Ascott Reit) on Thursday said they will together redevelop the Liang Court site.

Google changes election ads policy to limit targeting

Alphabet's Google will stop giving advertisers the ability to target election ads using data such as public voter records and general political affiliations, the company said in a blog post on Wednesday.

UAW president resigns after union accuses him of false accounting

Ng Ren Jye - The United Auto Workers (UAW) said on Wednesday it has filed charges under its bylaws against its president, accusing him of "false, misleading and inaccurate expense records" and saying those charges could lead to his removal from his elected office and expulsion from the union.

Huawei asks Canadian court to stay extradition process for CFO to United States

Fiona Lam - Lawyers for Huawei Technologies Co Ltd asked a Canadian court to immediately stay proceedings seeking to extradite the company's Chief Financial Officer Meng Wanzhou to the United States, a company spokesman said on Wednesday.

Singapore narrows 2019 GDP growth forecast to 0.5-1% on biomedical, aerospace showing

Sharon See - SINGAPORE has narrowed its official full-year growth forecast for 2019 to 0.5 to 1 per cent, following a better-than-expected third-quarter economic performance on the back of robust growth in the biomedical and aerospace manufacturing sectors, and early signs that the electronics slowdown may be e ...

United Auto Workers president resigns amid corruption probe: source

Fiona Lam - United Auto Workers (UAW) President Gary Jones resigned ON Wednesday after being linked to an ongoing corruption probe by U.S. federal officials, a union source confirmed to Reuters.

Huawei files application in Canada to stay extradition of CFO

Huawei Technologies Co Ltd lawyers have filed an application to a Canadian court to immediately stay the extradition proceedings of the company's Chief Financial Officer Meng Wanzhou to the United States, a company spokesman said on Wednesday.

China 'not stepping up' in trade talks: Trump

Fiona Lam - AUSTIN: President Donald Trump said on Wednesday (Nov 20) Beijing so far has not made sufficient concessions in trade talks, making him reluctant to conclude a bargain. "I can tell you this. China would much rather make a trade deal than I would," he told reporters while touring a computer ...

A US-China 'Phase One' trade deal may not be inked this year

Fiona Lam - Completion of a "phase one" U.S.-China trade deal could slide into next year, trade experts and people close to the White House said, as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

Intel says chip supply for personal computers remains tight

Fiona Lam - Intel Corp said on Wednesday it has not been able to keep up with the increasing demand for CPUs and said supply remained "extremely tight" in its personal computer business.

US lawmakers question Google about collection of health records

Fiona Lam - U.S. Presidential candidate Elizabeth Warren along with fellow Senators Richard Blumenthal and Bill Cassidy wrote a letter to Alphabet's Google on Wednesday to raise questions about its access to the health records of tens of millions of Americans.

Some Huawei suppliers get US approval to restart sales to blacklisted firm

WASHINGTON: The Trump administration on Wednesday gave Huawei its second reprieve this week, allowing some suppliers to restart sales to the Chinese telecoms giant after it was placed on a trade black list over national security concerns six months ago. The Commerce Department said it has begun ...

CapitaLand sells The Star Vista mall in Singapore for $217m

Deviana Chuo - The sale is expected to generate around S$145 million of net proceeds and around $32 million of net gain for the developer. The post CapitaLand sells The Star Vista mall in Singapore for $217m appeared first on DealStreetAsia.

Exclusive: LVMH gets access to Tiffany's books after it raises offer - sources

French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid from US$120 per share to close to US$130 per share, people familiar with the matter said on Wednesday.

Trump says looking at whether Apple should be exempt from China tariffs

U.S. President Donald Trump said on Wednesday he was considering whether to exempt Apple Inc from tariffs on Chinese imports.

Chipmaker Intel says supply remains tight in PC business; shares slip

Fiona Lam - Intel Corp said on Wednesday it has not been able to keep up with the increasing demand for CPUs and said supply remained "extremely tight" in its personal computer business.

'We don't have a 5G problem,' says Nokia's head of software

HELSINKI: The head of Nokia's software business Bhaskar Gorti defended the Finnish mobile network manufacturer on Wednesday (Nov 20) against market fears that it is lagging behind its peers Ericsson and Huawei in 5G development. "I don't think we have a 5G problem," Gorti told Reuters in an ...

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