2 days ago
US judge sentences ex-Goldman Sachs banker to two years over 1MDB scandal
[NEW YORK] A US judge on Thursday sentenced a former Goldman Sachs banker central to the 1MDB scandal to two years in...
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
2 days ago
As department stores go on life support, can experiential shopping, sharpened curation save them from flatlining?
Paige Lim - At least five department store chains in Singapore have downsized in recent years, and two have exited the scene since 2016
2 days ago
Death of the department store? Players can stay relevant with curated products, experiences: observers
Paige Lim - At least five department store chains in Singapore have downsized in recent years, and two have exited the scene since 2016
2 days ago
What comes next in Trump’s legal battle over tariffs?
[WASHINGTON] A US federal appeals court has temporarily halted a ruling that found many of President Donald Trump’s tariffs illegal, but the chance...
2 days ago
US: Stocks rise as market weighs tariff ruling
[NEW YORK] Wall Street stocks finished modestly higher on Thursday following strong earnings from Nvidia as a judicial ruling added to uncertainty about President...
2 days ago
Oil prices fall on demand concerns in volatile session as US court blocks Trump tariffs
[NEW YORK] Oil prices fell on Thursday, retreating from earlier gains, after the International Energy Agency’s director warned of weaker demand in China,...
2 days ago
Europe: Shares ease as trade uncertainty lingers after court blocks Trump’s tariffs
EUROPEAN shares eased on Thursday as initial relief that a US trade court had blocked some of President Donald Trump’s tariffs fizzled...
2 days ago
Businesses tackling Asia’s ageing crisis awarded S$3 million at DBS Foundation’s Impact Beyond Awards
Romaine Chan - The recognitions are part of the organisation’s commitment to help purpose-driven enterprises create an impact
2 days ago
Cheap and good Chinese food at Mansion 7
Jaime Ee - One-for-one menus offer surprising value and satisfying food at this nondescript eatery
2 days ago
Trump's tariffs to remain in effect after appeals court grants stay
WASHINGTON: A federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday (May 29), a day after a trade court had ruled that Trump had exceeded his
2 days ago
US SEC dismisses lawsuit against Binance crypto exchange
The U.S. Securities and Exchange Commission on Thursday voluntarily dismissed its civil lawsuit against Binance, the world's largest cryptocurrency exchange, extending the regulator's new approach to cryptocurrencies since President Donald Trump reentered the White House.A joint stipulatio ...
2 days ago
Man charged in New York with 3-week kidnapping to try to steal Bitcoin
NEW YORK :A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner in Manhattan's upscale Soho neighborhood for three weeks, shocking him with electric wires, and dangling him over a staircase to try to get him to give up his Bitcoin password, pr ...
2 days ago
Proportion of female directors at top 100 SGX companies surpasses 25% target in 2024
Sharanya Pillai - But a study finds that 31% of all Singapore-listed companies still have all-male boards
2 days ago
OpenAI argues to keep countersuit against Musk in trial over for-profit shift
OpenAI said it should be allowed to keep its countersuit against billionaire Elon Musk, saying the Tesla CEO's motion to dismiss the ChatGPT maker's claims has "no grounding in facts".In a court filing late on Wednesday, OpenAI said its countersuit - which accuses Musk of engagin ...
2 days ago
Zscaler names Kevin Rubin as CFO, raises annual forecast
Zscaler named Kevin Rubin as its chief financial officer and raised its annual results forecast on Thursday, as businesses spend more on cybersecurity networking solutions to combat sophisticated online threats.The cloud security firm's shares rose nearly 5 per cent in extended trading.Rubin, w ...
2 days ago
Marvell forecasts second-quarter revenue above estimates on strong demand for custom AI chips
Marvell Technology forecast second-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its custom chips powering artificial intelligence workloads in data centers.Demand for custom AI chips continues to fuel growth, while networking chips and electro-optics have als ...
2 days ago
Chipmaker Marvell forecasts second-quarter revenue above estimates
Marvell Technology forecast second-quarter revenue above Wall Street estimates on Thursday, betting on robust demand for custom chips powering artificial intelligence workloads in data centers.Demand for custom AI chips continues to fuel growth, while high-performance networking chips and electro-op ...
2 days ago
Markets shrug off US appeals court's decision to reinstate Trump tariffs
NEW YORK :Wall Street closed higher on Thursday, largely shrugging off a decision by a federal appeals court late Thursday reinstating President Donald Trump's tariffs. This came a day after a trade court blocked most of the U.S. president's tariffs going into effect. The S&P 500 ended ...
2 days ago
Dell raises full-year profit forecast on strong AI server demand
Dell Technologies raised its annual profit forecast on Thursday, signaling growing demand for its AI-powered servers that are equipped with Nvidia's powerful chips.Companies such as Dell and Super Micro Computer have benefited from the growing demand for these servers, but the high cost of prod ...
2 days ago
Dell raises annual profit forecast on strong AI server demand
Dell raised its annual profit forecast on Thursday, signaling growing demand for its AI-powered servers that are equipped with Nvidia's powerful chips.Shares of the company, whose servers are used by customers such as Elon Musk's AI startup xAI and CoreWeave, rose 2 per cent in extended tr ...
2 days ago
Edvantage: China-based undervalued private education play
Thiveyen Kathirrasan - About four years ago, the Chinese government clamped down on the private tutoring industry, which banned the provision of for-profit tutoring for subjects taught in school curricula. Affected companies were forced to register as non-profits and private tutoring over public holidays and weekends was ...
2 days ago
Nvidia, Dell to supply next US Department of Energy supercomputer
BERKELEY, California - :The U.S. Department of Energy on Thursday said its "Doudna" due in 2026 will use technology from Nvidia and Dell.The computer, named for Nobel Prize-winning scientist Jennifer Doudna who made key CRISPR gene-editing discoveries, will be housed at Lawrence Berkeley N ...
3 days ago
Hyundai considering 1% price hike on US vehicles to counter tariff hit, Bloomberg News reports
Hyundai Motor is considering a 1 per cent price increase on its entire U.S. lineup, looking to soften a hit from U.S. President Donald Trump's tariffs, Bloomberg News reported on Thursday, citing people familiar with the matter. The price hikes could come as soon as next week and would affect t ...
3 days ago
Trump steps up call for US rate cuts in talks with Fed chief
WASHINGTON: US President Donald Trump on Thursday (May 29) stepped up the pressure on Federal Reserve chair Jerome Powell to cut interest rates, in their first sit-down since the Republican returned to the White House in January. Trump has in recent months trained his fire on the Fed chair, whom he ...
3 days ago
Exclusive-Thoma Bravo explores $3 billion-plus sale of software firm Apryse, sources say
Buyout firm Thoma Bravo is exploring a $3 billion-plus sale of Apryse, after receiving interest from potential buyers of the document processing software provider, people familiar with the matter said on Thursday.Thoma Bravo is working with investment bankers at Lazard on the sale process, said the ...
3 days ago
Northrop Grumman invests $50 million in space startup Firefly Aerospace
U.S. defense contractor Northrop Grumman has invested $50 million into space startup Firefly Aerospace to aid the production of their jointly developed rocket, the companies said on Thursday.The medium launch vehicle, dubbed "Eclipse", is built upon Northrop Grumman's Antares and Fire ...
3 days ago
US appeals court reinstates Trump tariffs, sowing market confusion
NEW YORK :A U.S. appeals court reinstated President Donald Trump's sweeping tariffs on Thursday, leaving Wall Street with no clear direction a day after most of the tariffs were blocked by a trade court, a move that had given markets a brief boost. Chaotic U.S. trade policy has sent global mar ...
3 days ago
US court's tariff ruling gives markets short-lived rally, long-term angst
NEW YORK :A legal roadblock on U.S. President Donald Trump's sweeping tariffs drew early cheer from markets on Thursday, but the risks of extended policy and economic paralysis cast a deeper shadow for investors worried about the longer term.Most equity markets are back above water after routs ...
3 days ago
Business Insider cuts 21% of workforce, memo shows
Business Insider is laying off about 21 per cent of its workforce, an internal memo showed on Thursday, as the financial news outlet grapples with shrinking search traffic and the growing use of generative AI tools such as ChatGPT.The New York-based company joins several digital media companies in r ...
3 days ago
Independent financial adviser appointed for partial offer for Cordlife
Janice Lim - Thai-listed Medeze Group has offered to buy a 10% stake in private cord-blood bank
3 days ago
US economy shrinks 0.2% on weaker spending, larger trade impact
Augusta Saraiva / Bloomberg - The US economy shrank at the start of the year, restrained by weaker consumer spending and an even bigger impact from trade than initially reported. Gross domestic product decreased at a 0.2% annualized pace in the first quarter, the second estimate from the Bureau of Economic Analysis showed Thursd ...
3 days ago
Goldman, Morgan Stanley say Trump can deploy other tariff tools
Katia Dmitrieva and Christopher Anstey / Bloomberg - Two of Wall Street’s top investment banks cautioned that the impact of a court ruling striking down many of President Donald Trump’s tariff measures may prove limited, given that the administration has other avenues to impose import duties. “The tariff levels that we had yesterday are probably ...
3 days ago
Cordlife appoints Novus Corporate Finance as IFA to oversee 25-cent conditional cash offer by Medeze
Nicole Lim - The board of Mainboard-listed Cordlife Group has appointed Novus Corporate Finance as its independent financial advisor for the partial offer of a 10% stake in the company by Medeze Group. Medeze Group, a leader in Southeast Asia stem cell storage and services market, announced plans to acquire a 10 ...
3 days ago
US: Wall St opens higher after court blocks most Trump tariffs
[NEW YORK] Wall Street’s main indexes opened higher on Thursday (May 29) after a federal court ruled against most of US President...