Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

Latest Business Headlines and Stock Market News Published by Singapore Publisher Channel News Asia, Deal Streat Asia, Singapore Business Review, The Business Times, The Edge Market, Today Online @ SGinvestors.io

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3 days ago

JPMorgan raises CEO Dimon's pay to US$31.5 million

Claudia Chong - JPMorgan Chase & Co Chief Executive Officer Jamie Dimon will get a nearly 2per cent raise in compensation for 2019, the Wall Street bank said on Thursday, bringing his total pay to US$31.5 million.

3 days ago

Intel sees 2020 revenue above estimates as chip demand recovers

Claudia Chong - Intel Corp forecast full-year revenue above analysts' estimates on Thursday, helped by higher sales of its chips used in data centers that power internet-based services, sending its shares up 5per cent.

3 days ago

SGX buys 93% stake in index provider Scientific Beta for $280m

Staff Reporter - Submitted By:  Clarist Zablan Case Study:  No This will expand its Data, Connectivity and Indices business. Singapore Exchange (SGX) is acquiring a 93% stake in independent index provider Scientific Beta for $280m (EUR186m) in cash, according to a news release. The proposed acquisition wi ...

3 days ago

Nasdaq edges to record as investors monitor China virus

Claudia Chong - NEW YORK: Wall Street stocks finished mostly higher on Thursday (Jan 23), with the Nasdaq edging to a fresh record, despite worries over the coronavirus in China. Stocks opened solidly lower on worries the sickness could spread and dent the global economy. But sentiment shifted after the World ...

3 days ago

Chart of the Day: Retail space pipeline until 2022 to hit 602,000 sqft

Staff Reporter - Submitted By:  Clarist Zablan Case Study:  No Supply per year falls far behind the past three-year average of 1 million sqft. This chart from EDMUND TIE reveals that the supply of retail development in the pipeline from Q4 2019 to 2022 is projected to reach 602,000 sqft net lettable area ...

3 days ago

Daily Markets Briefing: STI down 0.6%

Staff Reporter - Submitted By:  Shaina Teope Case Study:  No YZJ Shipbuilding saw the sharpest decline amongst top active stocks with a 2.75% contraction. The Straits Times Index ended 19.37 or 0.6% lower at 3,234.56. The top active stocks were Singtel, which grew 1.83%, DBS, which fell 0.57%, UOB, which ...

3 days ago

Daily Briefing: SIA to upsize Boeing fleet in India; Fish farmers Barramundi Asia, Allegro Aqua eye merger

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No And food delivery app Hi-So secures funding. From Bloomberg: Singapore Air’s Indian joint venture Vistara, is considering ordering additional 787 Dreamliner jets from Boeing Co, whose sticker prices start at about $250m each. The new jet ...

3 days ago

Broadcom to supply wireless components to Apple

Chipmaker Broadcom Inc said on Thursday it has entered into two multi-year agreements with Apple Inc for the supply of wireless components used in its products.

3 days ago

AMTD, Xiaomi to create fintech programme with SMU and NUS

Ng Ren Jye - HONG Kong investment bank AMTD Group and the financial services arm of Chinese tech giant Xiaomi have joined hands with Singapore Management University (SMU) and the National University of Singapore (NUS) to create a fintech training programme for entrepreneurs, senior executives and policymakers.

3 days ago

Czech tycoon's CPI Property sells S$150m perp in market first

Fiona Lam - THE first European non-bank issuer has made its debut in the Singapore dollar (SGD) corporate hybrid bond market.

3 days ago

Virus fears continue to unsettle investors

Navin Sregantan - WALL Street turned in a slightly positive showing on Wednesday, thanks to strong earnings by US corporates, but regional equity markets failed to follow suit.

3 days ago

SGX invests 186m euros in index firm; Q2 net profit up 3%

Angela Tan - SINGAPORE Exchange (SGX) is coughing out 186 million euros in cash (S$280 million) for a 93 per cent stake in Scientific Beta Pte Ltd, a smart beta index firm, as the bourse looks to accelerate its data, connectivity and indices (DCI) business.

3 days ago

Shareholders of Alita Resources seek answers amid 'forced takeover'

Marissa Lee - SHAREHOLDERS of Alita Resources, formerly Alliance Mineral Assets, will see their investments go to zero, as Chinese interests seize control of the insolvent lithium miner.

3 days ago

Home-Fix gets High Court nod for debt restructuring

Lynette Tan - HOME-FIX will now undergo debt restructuring for the next six months, after financial woes pushed the home-improvement retail company to shutter all its retail stores in Singapore last month.

3 days ago

Temasek, EQT to invest US$500m in India renewable energy projects

Ng Ren Jye - SINGAPORE state investment firm Temasek Holdings and Sweden-based asset manager EQT will invest a total of US$500 million to develop utility-scale renewable projects in India, both companies said on Wednesday.

3 days ago

Wuhan virus so far does not appear to be as deadly as Sars: PM

Chuang Peck Ming - SINGAPORE is well prepared to handle the fight against the Wuhan virus, said Prime Minister Lee Hsien Loong, highlighting that the country has been gearing up for such a situation ever since the Sars outbreak in 2003.

3 days ago

Office rental cycle has peaked; retail rents may have bottomed out

Kalpana Rashiwala - IT SEEMS a tale of two cities between Singapore's office and rental markets, going by the latest data from the Urban Redevelopment Authority (URA).

3 days ago

Citizen labour trends track those of residents: MOM

Janice Heng - LABOUR statistics for Singapore citizens track closely those for all residents - that is, citizens and permanent residents (PRs) - according to an occasional paper released by the Ministry of Manpower (MOM) on Thursday.

3 days ago

2019 core inflation comes in at 1%; MAS likely to stand pat in April review

Annabeth Leow - SINGAPORE'S central bank will probably leave monetary policy untouched at its next review in April, analysts said on Thursday, as the latest data showed inflation picking up again in the final stretch of 2019.

3 days ago

Home sales achieve soft landing in 2019 with 2.7% price gain

Siow Li Sen - DEVELOPERS should breathe easier as the private home market seems to have achieved a soft landing in 2019 as prices rose moderately amid higher sales, despite tough cooling measures imposed in 2018.

3 days ago

StarHub, M1 join forces to vie for Singapore 5G network licence

Annabeth Leow - STARHUB and M1 on Thursday announced an exclusive pact to jointly bid for a 5G network licence, but did not specify which type of operating licence they will be vying for.

3 days ago

Cache Logistics Trust Q4 DPU falls 8.4% to 1.376 S cents

Vivienne Tay - CACHE Logistics Trust's distribution per unit (DPU) fell 8.4 per cent to 1.376 Singapore cents for its fourth quarter ended Dec 31, from 1.502 cents a year ago, the real estate investment trust's manager said on Thursday.

3 days ago

Frasers Property buying London office buildings for £135m

Rachel Mui - A SUBSIDIARY of Frasers Property is acquiring the entire stake in Bedfont Lakes which holds the freehold interest in a business park comprising three office buildings in London.

3 days ago

ESR-Reit DPU for Q4 slips 0.5% to S$0.01

Ng Ren Jye - ESR-REIT'S distribution per unit (DPU) slipped 0.5 per cent to one Singapore cent for the fourth quarter ended Dec 31, 2019, from 1.005 cents a year ago.

3 days ago

Allied Tech CEO, CFO to assist in CAD probe

Rachel Mui - ALLIED Technologies' chief executive officer Clement Leow Wee Kia and chief financial officer Ong Lizhen will be "providing assistance" to the Commercial Affairs Department (CAD) on an investigation, the company said on Wednesday night.

3 days ago

Frasers Hospitality Trust posts higher Q1 DPS of 1.3301 S cents

Claudia Chong - FRASERS Hospitality Trust on Thursday posted a first-quarter distribution per stapled security (DPS) of 1.3301 Singapore cents, up from 1.2542 Singapore cents a year ago, as it recorded better performance across its portfolio.

3 days ago

Global Invacom - much promise, but not yet 'ready to launch'

Anita Gabriel - SOME companies are easier to dress up than others and while they do many things right by the market, they are somehow still never vogue enough.

3 days ago

Keppel Corp Q4 net profit up on better showing from most divisions

Tay Peck Gek - MAINBOARD-LISTED conglomerate Keppel Corporation reported 41.5 per cent higher net earnings at S$191.4 million for the fourth quarter ended December, bolstered by stronger performance from offshore and marine (O&M), property and investments divisions.

3 days ago

Prices, rents of industrial space stable in 2019; new supply to rise significantly this year: JTC

Nisha Ramchandani - PRICES and rents of industrial space remained relatively stable in 2019 despite the headwinds, while the occupancy dipped 0.1 percentage point.

3 days ago

Singapore keeps high score in fight against graft

Angela Tan - SINGAPORE has maintained its high global score in its fight against corruption even as graft has become more pervasive in the rest of the world, according to the 2019 Corruption Perceptions Index (CPI) released by Transparency International (TI) on Thursday.

3 days ago

Insys founder Kapoor sentenced to 66 months in prison: judge

Insys Therapeutics founder John Kapoor was sentenced to 66 months in prison for his role in an opioid fraud scheme by a U.S. district judge in Boston on Thursday.

3 days ago

S&P 500, Nasdaq end higher with Netflix

The S&P 500 ended slightly higher and the Nasdaq eked out a record high close on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market.

3 days ago

Bank regulator charges ex-Wells Fargo executives for role in sales scandal

Ng Ren Jye - Wells Fargo & Co's regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank's sales practices scandal.

3 days ago

Intel forecasts 2020 revenue above estimates, shares rise

Ng Ren Jye - Intel Corp forecast full-year revenue above analysts' estimates on Thursday, helped by higher sales of its chips used in data centers that power internet-based services, sending its shares up 5per cent.

3 days ago

Canada court adjourns Huawei executive's extradition battle

VANCOUVER: The Canadian court tussle over the arrest of a Huawei telecoms executive was put in limbo on Thursday (Jan 23) when a judge adjourned the case that pits the United States against China. Washington is seeking extradition of Huawei chief financial officer Meng Wanzhou, who was arrested in . ...

3 days ago

Regulator charges ex-Wells Fargo executives for role in sales scandal

Ng Ren Jye - Wells Fargo & Co's regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank's sales practices scandal.