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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Oil barrels higher, but equities can't gain traction

[NEW YORK] Oil prices rebounded on Thursday, coming off 10-month lows, but the increase did not give much boost to global equity markets.

Trump admits he has no tapes of Comey meetings

[WASHINGTON] US President Donald Trump admitted on Thursday he does not have recordings of his private meetings with fired FBI director James Comey, after fueling speculation for weeks of secret Oval Office tapes.

Allianz to cut 700 jobs in Germany in next three years: Sueddeutsche

Today - BERLIN - Allianz is planning to cut 700 jobs in Germany over the next three years, Sueddeutsche Zeitung reported on Friday, citing company sources. The cuts are part of a cost-reduction program involving a total of almost 1,300...

China Unicom counts Alibaba, Tencent among investors in drive to raise US$10b

HONG KONG: Chinese tech giants Alibaba Group Holdings and Tencent Holdings will be among new investors pouring a total of around US$10 billion into mobile carrier China Unicom, sources said, part of efforts by Beijing to rejuvenate state behemoths with private cash. Four sources with knowledge of .. ...

Fintech can help banks with stiffer compliance

Jamie Lee - FOR a match, swipe right.

Why Georgia state loss poses challenge to the Dems

Leon Hadar - TO quote famed baseball player Yogi Berra, who was known for his witticism, "it was déjà vu all over again".

What a time to talk Brexit

David Mason - THE last few weeks have been torrid for the UK. Three terror attacks, involving extremists from both "Christian" and "Muslim" backgrounds, homegrown and imported; a devastating tower block inferno pointing up class divides and the decline of proper building regulation; and an el ...

India's GST could be transformational - teething problems notwithstanding

ON July 1, India will replace a panoply of some 17 taxes and duties with a single goods and services tax (GST), which could turn out to be the country's most significant tax reform since independence.

EU summit buoyed by Macron's victory and far-right defeats

Andrew Hammond - EUROPEAN political leaders are meeting in Brussels for a critical two-day summit ending Friday afternoon, after a morale-boosting few weeks for the EU.

In Hungary, autocracy has dethroned liberal democracy

Blint Magyar - FOLLOWING the collapse of communism, many of us in Central and Eastern Europe had hoped that the region would steadily move towards liberal democracy, overcoming any obstacles en route to that goal.

The EU and Singapore: Providing global leadership in sustainable transport

Henrik Hololei - I ALWAYS enjoy visiting Singapore which is without doubt one of the world's most forward-looking, dynamic and innovative hubs. It is a country that embraces change and has been constantly reinventing itself for so many years as a transport trailblazer. It's also no surprise that Singapore ...

Duterte is losing the plot

Manjit Bhatia - PRESIDENT Rodrigo Duterte emerged from a week's hiatus to again limply suggest last weekend that Islamic State (IS) may have planted "deep roots" in the Philippines. He had asserted similarly in May when declaring a constitutionally-mandated 60-day martial law in historically-trouble ...

Bidding wars erupt in Washington with limited supply of homes for sale

DANIEL Handel left his bachelor pad in Washington DC's Truxton Circle neighbourhood in 2011 to take an overseas post. Returning this May with a wife and two children in tow, he found that the capital had changed as much as his family life had.

US existing home sales unexpectedly rise in May

US home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median home price to an all-time high.

Trump's net worth falls to US$2.9b as properties underperform

US President Donald Trump's office properties are not bringing in as much cash as banks that loaned him money had expected.

Strong take-up drives expansion at Maxwell Chambers

Lee Meixian - THE Ministry of Law (MinLaw) on Thursday announced that 65 per cent of the new office space at 28 Maxwell Road has already been taken up even before refurbishment works begin.

Q2 rents up for CBD Grade A and Marina Bay offices

Kalpana Rashiwala - GRADE A office rents in Singapore's CBD may have bottomed earlier than expected.

Airbnb said to be ready to launch a premium tier

AIRBNB Inc is close to launching a new service that will match guests with quality-inspected home and apartment rentals. The product is intended to attract higher-paying travellers who have yet to use Airbnb because they prefer the amenities guaranteed by fancy hotels, said three people familiar wi ...

Australian banks lash out at additional state tax

AUSTRALIA'S biggest banks have blasted a plan by one of the country's state governments to create an additional levy on lenders, and urged other provincial leaders to rule out similar moves.

Berkshire Hathaway invests in embattled lender Home Capital

WARREN Buffett's Berkshire Hathaway Inc is providing a lifeline to Home Capital Group Inc, the embattled Canadian alternative lender whose near collapse sparked intense scrutiny of the country's fraught housing market.

New social compact needed amid tech revolution

Jamie Lee - THE "radical uncertainty" brought about by technology, needs to spur a new social compact as society may struggle to catch up to this latest revolution, said DBS chief Piyush Gupta.

China's bad debt prices surge as investors vie for share of lucrative sector

BAD loans are rapidly becoming the latest hot commodity in China as more domestic and foreign investors rush into the market and bid up prices.

Nomura said to choose Frankfurt as EU base following Brexit

NOMURA Holdings Inc picked Frankfurt as the headquarters for its European Union operations after the UK leaves the bloc, people with knowledge of the matter said.

US fund veteran makes selling point of ETFs' dirty little secret

BRAD Lamensdorf is an unlikely whistle-blower on the inner workings of exchange-traded funds.

Special ministerial committees ensure national interest prevails: Tharman

Lee U-Wen - THE practice of setting up special ministerial committees began many years ago and this is how the government ensures that important issues are given in-depth attention, said Deputy Prime Minister Tharman Shanmugaratnam on Thursday.

Philippines, Indonesia, Malaysia to pool intelligence in cohesive crackdown on militancy in region

THE Philippines, Indonesia and Malaysia agreed on Thursday to pool intelligence and tackle militant financing as fears grow that protracted fighting in a southern Philippine town could be the prelude to an Islamic State infiltration of the region.

No need to raise interest rates, says BOJ's Iwata

BANK of Japan (BOJ) deputy governor Kikuo Iwata on Thursday dismissed the need to raise interest rates any time soon, stressing that the economy still requires support from "powerful" monetary easing, with inflation far from the central bank's 2 per cent target.

Heady markets belie lingering uncertainty

Jamie Lee - THE financial markets are likely underestimating tail risks that include elevated political uncertainty, even as the global economy is in a better shape than it has been in a long while, said the managing director of the Monetary Authority of Singapore Ravi Menon.

S'pore financial sector, O&M layoffs likely to ease: report

Chai Hung Yin - EMPLOYMENT conditions in Singapore are expected to improve later this year as the drag from sharp retrenchments in financial services and oil and gas-related sectors ease, while a property recovery is not on the cards yet, said the latest report by the Institute of Chartered Accountants in England ...

Najib unveils inquiry into massive forex losses under Mahathir's watch

Pauline Ng - AS pressure builds on the back of additional complaints last week by the US Department of Justice seeking to recover a further US$540 million worth of assets it said were misappropriated from 1MDB, Malaysia's embattled Prime Minister Najib Razak appears to be upping the ante against his bigges ...

Merkel slaps down May on Brexit talks

GERMAN Chancellor Angela Merkel on Thursday insisted that the EU's future took priority over Brexit talks as Prime Minister Theresa May met European leaders for the first time since a disastrous election gamble.

UK June factory orders hit best month since 1988 - CBI survey

BRITISH factory orders have hit their highest level in nearly 30 years, according to a monthly Confederation of British Industry (CBI) survey which might encourage Bank of England policymakers who favour an interest rate hike.

Fed's attempts to lift rates falter as firms waver

IT'S like bringing a knife to a gunfight.

Taiwan central bank maintains rates, warns growth may slow

TAIWAN'S central bank left its policy rate unchanged on Thursday, as widely expected, with robust tech exports providing a strong anchor for the economy and inflation remaining subdued.

How Americans think about the economy has changed since Trump won presidency

DEMOCRATS and Republicans have never been further apart in their expectations for the economy than they are right now.

Thailand eyeing ambitious infrastructure project to tap on China's 'One Belt, One Road'

THAILAND said a US$44 billion plan to add infrastructure and upgrade industry on its eastern seaboard can link up with China's Belt and Road initiative, as part of a push to encourage economic growth.

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