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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Nokia CEO admits to delays in rolling out 5G

Lee Meixian - Nokia Chief Executive Rajeev Suri said on Tuesday that the company had been a little slow in getting 5G technology up and running, citing merging its own technology plans with those of acquired Alcatel-Lucent as a reason.

US stocks open higher on Huawei reprieve

Lee Meixian - U.S. stock index futures rose on Tuesday after the United States temporarily eased restrictions on China's Huawei Technologies, allaying investor concerns over a further escalation in a bitter trade war between the two countries.

Special Report: Hobbling Huawei - Inside the US war on China's tech giant

Lee Meixian - In early 2018, in a complex of low-rise buildings in the Australian capital, a team of government hackers was engaging in a destructive digital war game.

Futures bounce as US eases restrictions on Huawei

U.S. stock index futures rose on Tuesday after the United States temporarily eased restrictions on China's Huawei Technologies, allaying investor concerns over a further escalation in a bitter trade war between the two countries.

Smokers not impressed with Singapore’s first outdoor air-con smoking cabin that filters smoke into clean air

Huawei founder says US underestimates company

BEIJING: Huawei founder Ren Zhengfei on Tuesday (May 21) shrugged off US attempts to block his company's global ambitions, saying the United States underestimates the telecom giant's strength. Ren spoke to Chinese media days after President Donald Trump issued orders aimed at thwarting Huawei's . ...

Google and Android system start to cut ties with Huawei

NEW YORK: Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday (May 19), in a blow to the Chinese ...

Google blocks Huawei’s access to Android updates: What you need to know

SINGAPORE: Google is blocking Huawei from some updates to the Android operating system, in a blow to the world’s second-biggest smartphone maker. The move comes after US President Donald Trump signed an executive order barring US companies from using foreign telecoms equipment deemed a security .. ...

US delays Huawei ban for 90 days

WASHINGTON: The US government on Monday (May 20) eased some restrictions imposed last week on China's Huawei, a sign of how the prohibitions on the telecommunications company may have far-reaching and unintended consequences. The US Commerce Department will allow Huawei Technologies to purchase ...

'Plan B': Huawei's operating system headache after Android ban

Google's decision to partially cut off Huawei devices from its Android operating system has presented the Chinese tech titan with one of its most dramatic challenges yet: how to keep up with the competition if it cannot use the platform that powers nearly every other smartphone in the world?

Trump's Huawei ban raises hopes for Chinese chip suppliers

Washington's blacklisting of technology giant Huawei has taken a toll on U.S. semiconductor shares, but China-listed firms have rallied as investors bet they can gain from Beijing's stepped-up efforts to build a homegrown supply chain.

SMC to get higher court to reverse ruling against doctor who was fined S$50,000

US warns of data threat from Chinese-made drones

Lee Meixian - WASHINGTON: The US Department of Homeland Security has warned US firms of the risks to company data from Chinese-made drones, according to a notice reviewed by Reuters on Monday. The notice, titled "Chinese Manufactured Unmanned Aircraft Systems," warned that US officials have "strong concerns .. ...

Pacific Radiance JV gets US$2.78m in HK arbitration for failed vessel delivery

Yunita Ong - A JOINT-VENTURE of offshore marine company Pacific Radiance on Friday announced that it has been awarded about US$2.78 million plus interest as part of arbitration against two Chinese shipyard groups, Shanghai Waigaoqiao Shipbuilding & Offshore and China Shipbuilding Trading (Shanghai).

Global stocks gain as US eases Huawei restrictions

Lee Meixian - Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House's black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between the Washington and Beijing.

Trump says tariffs making companies leave China, a deal can't be '50-50'

U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a "50-50" deal.

Home Depot same-store sales misses on wet weather, lumber prices

Lee Meixian - Home Depot Inc missed Wall Street estimates for quarterly same-store sales on Tuesday, hurt by poor weather in February and a steep fall in lumber prices.

Witness cites 'clerical oversight' as defence alleges lack of anti-money laundering checks

Amala Balakrishner - SINGAPORE (May 21): Prosecution witness Goh Chiu Goik, an assistant manager at Phillip Securities (PSPL), in court on Tuesday said some trading forms that were not correctly filled out because of “clerical oversight” that led to some details not being checked properly. In his cross-examination ...

Singapore lone exception to Asia’s commercial property slump

Pooja Thakur - Commercial property transactions in the city-state jumped 72% year-on-year to $1.9 billion in the quarter ended March 31, boosted by deals in the office, retail and industrial sectors. The post Singapore lone exception to Asia’s commercial property slump appeared first on DealStreetAsia.

Trade uncertainty darkens US small caps outlook

Shares of smaller publicly listed U.S. companies have fallen more on recent U.S.-China trade tensions than larger corporations and could face an even rougher road as the year wears on unless the prospects for economic growth improve.

Hopes for a recovery for Singapore in the second half of 2019 have dimmed: Economists

European shares hobbled as worries about Huawei fallout mount

European stocks slipped on Monday as concerns about an escalating fallout from a U.S. crackdown on China's Huawei Technologies offset a slightly more positive tone on trade.

China-US trade row rattles European stock markets

LONDON: European equity markets slid on Monday (May 20) as investors fretted over the latest flare-up in the China-US trade war. Eurozone heavyweights Frankfurt and Paris were each down around 1.5 per cent at the close, while London held up better. On Wall Street, the Dow Jones index was 100 ...

Huawei ban fallout hits Nasdaq as US stocks fall

NEW YORK: Shares of technology companies fell sharply on Monday (May 20) in down session for Wall Street after Google began to severe ties with Chinese telecom giant Huawei amid the US-China trade war. The tech-rich Nasdaq Composite Index tumbled 113.91 points (1.46 per cent) to 7,702.38, with ...

Wall St. slides as Huawei fallout slams tech stocks

U.S. stock index futures fell on Monday, as fears over the impact on major technology companies from Washington's crackdown on China's Huawei Technologies added to concerns over worsening trade dispute between the world's two biggest economies.

Worries of longer, costlier US-China trade war hits markets

China accused the United States on Monday of harboring "extravagant expectations" for a trade deal, underlining the gulf between the two sides as U.S. action against China's technology giant Huawei began hitting the global tech sector.

Huawei accuses US of bullying, says working with Google to counter ban

Lee Meixian - Chinese telecoms equipment maker Huawei called itself the victim of U.S. "bullying" on Tuesday and said it was working with Google to counter trade restrictions imposed by Washington last week, a senior Huawei executive said.

Merck to buy cancer drug developer Peloton for US$1.05 billion in cash

Merck & Co Inc said on Tuesday it would buy Peloton Therapeutics Inc for US$1.05 billion in cash to gain access to the privately held company's renal cancer drug candidate.

J.C. Penney posts steeper-than-expected drop in same-store sales

Lee Meixian - J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture categories, sending its shares down 10per cent in early trading.

China rare earth firms' stocks soar on trade war speculation

Lee Meixian - Shares in rare earth-related companies in China soared on Tuesday, a day after Chinese President Xi Jinping visited a rare earth firm in southern China, sparking speculation the sector could be the next front in the Sino-U.S. trade war.

Kingboard Copper offer closes, company to be delisted

Michelle Quah - THE buyout offer for Kingboard Copper Foil has closed, with the offeror group - Kingboard Laminates and Kingboard Holdings - now owning some 98.5 per cent of the shares issued, having obtained valid acceptances of the offer representing some 10.5 per cent of the shares issued.

Face ID firm Lumentum follows Google with Huawei ban

Huawei said it would continue to provide security updates and services for its smartphones and tablets after Google said it would comply with an order barring the Chinese company from updates to its Android operating system.

Fingerprints and finances: next Wells Fargo CEO will be under regulatory microscope

From submitting their fingerprints to giving up their tax records, Wells Fargo & Co's next chief executive will go through a vetting process that could rival that of top U.S. government officials.

Home Depot same-store sales misses on cold weather, weak lumber prices

Marissa Lee - Home Depot Inc missed Wall Street estimates for quarterly same-store sales on Tuesday, hurt by poor weather in February and a steep fall in lumber prices.

Some major Deutsche Bank investors want chairman to go early: sources

Marissa Lee - Some major investors in Deutsche Bank are demanding a succession plan for the lender's chairman, Paul Achleitner, two people with knowledge of the matter said on Tuesday.

TODAY's evening brief for Tuesday, May 21

nabilah.awang -

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