3 days ago
French court rejects Shein suspension
A FRENCH court on Friday rejected the state’s request to suspend Shein’s site in France as “disproportionate” after the Asian e-commerce giant...
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
3 days ago
What Novo Nordisk, OpenAI and Pop Mart have in common
All three have suffered the curse of overnight success
3 days ago
US stocks: Nasdaq rallies again while yen falls despite BOJ rate hike
RESURGENT artificial intelligence shares lifted the Nasdaq on Friday for a second straight session while the yen retreated despite a Bank of...
3 days ago
European stocks hover near record on lingering policy optimism
EUROPEAN stocks hovered near a record on Friday, wrapping up the final full trading week of the year with optimism around further policy easing...
3 days ago
Oil posts second weekly decline as glut concerns dominate
OIL declined for a second week as concerns over a growing glut outweighed geopolitical risks to supply.
3 days ago
Musk wins appeal that restores 2018 Tesla pay deal now worth about $139 billion
WILMINGTON, Delaware, Dec 19 : Elon Musk's 2018 pay package from Tesla, once worth $56 billion, was restored by the Delaware Supreme Court on Friday, two years after a lower court struck down the compensation deal as "unfathomable."The ruling overturns a decision that had prompted ...
3 days ago
Musk wins appeal that restores 2018 Tesla pay deal now worth about $155 billion
WILMINGTON, Delaware, Dec 19 : Elon Musk's 2018 pay package from Tesla, once worth $56 billion, was restored by the Delaware Supreme Court on Friday, two years after a lower court struck down the compensation deal as "unfathomable."The ruling overturns a decision that had prompted ...
3 days ago
Starbucks taps Amazon's Anand Varadarajan as new chief technology officer
(Adds dropped word "officer" in paragraph 1)Dec 19 : Starbucks said on Friday it has appointed Anand Varadarajan as its new chief technology officer, effective January 19, as CEO Brian Niccol pushes a tech revamp in stores to make labor more efficient.Varadarajan will fill the rol ...
3 days ago
EU Council backs digital euro with both online and offline functionality
MILAN, Dec 19 : The EU Council on Friday backed a negotiating position for a digital euro that includes both online and offline functionality, diverging from earlier European Parliament proposals that focused solely on offline usage.Under the Council's new position, the digital euro would be ...
3 days ago
AI boom drives data-center dealmaking to record high, says report
Dec 19 : Global data-center dealmaking surged to a record high through November this year, driven by an insatiable demand for computing infrastructure to meet the boom in artificial intelligence usage. Data from S&P Global Market Intelligence showed that there were more than 100 data center ...
3 days ago
Morgan Stanley seen as front-runner for SpaceX IPO, sources say
NEW YORK, Dec 19 : Morgan Stanley is emerging as a leading contender for a key role in SpaceX's blockbuster initial public offering, as the bank's close ties to CEO Elon Musk give it an edge in his decision, according to three people familiar with the matter.A selection process, or " ...
3 days ago
Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros
MILAN, Dec 19 : Italy's Treasury has agreed to sell PagoPA, which handles digital payments to public administrations, to the state mint and to state-backed postal group Poste Italiane for up to 500 million euros ($586 million), the mint said on Friday.The deal has raised concerns among Italian ...
3 days ago
Nvidia-Intel deal cleared by US antitrust agencies
Dec 19 : U.S. antitrust agencies have cleared Nvidia's investment in Intel, according to a notice posted by the U.S. Federal Trade Commission.While the notice did not specify the details of the transaction, Nvidia said in September it would invest $5 billion in Intel, throwing ...
3 days ago
UniCredit issues its first tokenised structured note
MILAN, Dec 19 : Italian bank UniCredit said on Friday it had issued its first tokenised structured note for private investors, a week after issuing its first tokenised minibond together with state lender Cassa Depositi e Prestiti.Tokenisation turns a traditional financial instrument — suc ...
3 days ago
HS Optimus Holdings sells Melbourne property for A$19.7 mil
Felicia Tan - HS Optimus Holdings has agreed to sell its property at 23-31 Lincoln Square South, Carlton, Melbourne, for A$19.7 million ($16.75 million). The company’s wholly-owned subsidiary, Ambertree Vic Mel (Lincoln), entered into a contract of sale with a “well-established educational institution” in M ...
3 days ago
Yen weakens against peers after BOJ raises interest rates
NEW YORK/LONDON, Dec 19 : The yen weakened sharply against the dollar and other major peer currencies on Friday after the Bank of Japan raised rates to a 30-year high but did not offer clarity on future hikes.The yen fell against the dollar after the BOJ lifted its policy rate to 0.75 per cent fr ...
3 days ago
Yen weakens across board after BOJ delivers rate hike
NEW YORK/LONDON, Dec 19 : The yen weakened sharply against the dollar and other major currencies on Friday as traders drove it towards levels that could trigger official buying after the Bank of Japan raised rates to a 30-year high but did not offer clarity on future hikes.The yen fell against the d ...
3 days ago
Strategy and bitcoin-buying firms face wider exclusion from stock indexes
PARIS, Dec 19 : Michael Saylor's Strategy could soon be dropped from MSCI and potentially other major stock indexes, which analysts say could cost the bitcoin-hoarding giant up to $9 billion in demand for its shares and hurt the wider appeal of the sector.After queries from clients, MSCI in ...
3 days ago
Citadel posts worst return since 2018 as natural gas bets falter
This is partly due to erratic swings triggered by geopolitical turmoil, making trades hard to stick to
3 days ago
Wall Street opens higher on tech rebound, Nike slumps
[NEW YORK] Wall Street’s main indexes opened higher on Friday (Dec 19), as technology stocks extended their rebound from an early-week sell-off,...
3 days ago
Japan finance minister warns of action against any excessive forex moves
TOKYO, Dec 19 : Japanese Finance Minister Satsuki Katayama said on Friday that Tokyo would take appropriate action to deal with any excessive currency volatility after the yen plunged despite the central bank's decision to raise interest rates. "We are alarmed as we are clearly seeing o ...
3 days ago
Developers are selling assets higher than book value; can their stock prices reflect book value?
Goola Warden - Just as indicators plunged to oversold lows by April with City Developments’ (CDL) RSI at just 20, indicators can move to overbought levels and stay there. CDL’s technical condition remains intact. RSI, at 71 as of Dec 19, isn’t particularly at extreme overbought levels. For instance, in Aug, ...
3 days ago
India’s Adani seeks to operate more airports as part of US$11 billion expansion
The group currently manages seven airports across the country, with plans to aggressively bid for 11 more
3 days ago
Paris court orders Shein to verify age for sex toy sales or risk fines
PARIS, Dec 19 : A Paris court ordered Shein to implement age verification measures for any adult products sold on its marketplace on Friday and set a 10,000 euro ($11,709) fine for any breach, after uproar over childlike sex dolls for sale on its website.The court rejected the French government& ...
3 days ago
YouTube down for thousands of users, Downdetector shows
Dec 19 : Google's YouTube was down for thousands of users globally on Friday, according to Downdetector.com.There were more than 7,600 reports of issues with the streaming platform as of 08:27 a.m. ET, according to Downdetector, which tracks outages by collating status reports from ...
3 days ago
YouTube largely back up after being down for thousands of users, Downdetector shows
Dec 19 : Alphabet's YouTube was largely back up after a brief outage denied access for thousands of users globally on Friday, according to Downdetector.com.There were about 200 outage reports from users of the platform as of 9:00 a.m. ET, compared with the peak of nearly 10,800, Downd ...
3 days ago
Temu-owner PDD Holdings appoints co-CEO Zhao as co-chairman of board
Dec 19 : PDD Holdings on Friday appointed co-chief executive officer Jiazhen Zhao as co-chairman of the Temu owner's board, joining the company's other chief executive Lei Chen. U.S.-listed shares of the Chinese e-commerce company were up over 6 per cent in premarket trading. A fo ...
3 days ago
Google Cloud lands deal with Palo Alto Networks 'approaching $10 billion,' per source
SAN FRANCISCO, Dec 19 : Alphabet's cloud computing unit and cybersecurity company Palo Alto Networks on Friday announced an expanded partnership that one source told Reuters was by far Google Cloud's largest security services deal.The contract comprises a commitment by Palo Alto to pay ...
3 days ago
Maersk completes first Red Sea voyage in nearly two years
The shipping company says it has no plans to fully reopen the route but may gradually resume sailing via Suez and the...
3 days ago
Grab to acquire Chinese firm Infermove to expand in AI robotics
[SINGAPORE] Grab Holdings has acquired Chinese tech company Infermove to expand in artificial intelligence-enabled robotics for food delivery.
3 days ago
CNMC plans to appeal against additional tax assessment of RM29.6 million imposed on Malaysian unit
Sharon See - The notices were raised in relation to the disallowance of management fee expenses paid by subsidiary to gold-mining company
3 days ago
China, US seek Thailand-Cambodia ceasefire ahead of Asean meeting
Bangkok insists that any end to the current fighting must start with a cessation of hostilities by the other side
3 days ago
Sias calls on Singapore Paincare to clarify actions after failed privatisation bid
Shikhar Gupta - Move is in light of the impact the collapsed deal has on minority shareholders
3 days ago
NTUC to help members in enforcing judgments and orders with expanded legal panel
Shikhar Gupta - It is widening its Legal Assistance Panel to also support members in filing a magistrate’s complaint, among others