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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23 hours ago

'A step in the right direction': Thailand's tourism operators welcome special visa for foreigners

Under a special tourist visa scheme aimed at long-stay visitors, those going to Thailand will need to arrange for private flights and undergo a 14-day quarantine before their holiday.

23 hours ago

Commentary: The US dollar will only fall faster and harder

Vivienne Tay - Rapid deterioration in US macroeconomic imbalances will cause the greenback to plunge in value, says Stephen S Roach.

23 hours ago

Commentary: This is the end of business conferences as we know it

Vivienne Tay - MICE tourism may never recover completely as many conferences and meetings are taking place online and as businesses seek to reduce costs, says Associate Professor Prem Shamdasani.

23 hours ago

US lawmakers propose airplane certification reforms after fatal Boeing crashes

The leaders of the U.S. House Committee on Transportation and Infrastructure on Monday introduced bipartisan legislation to reform the Federal Aviation Administration's aircraft certification process in the wake of two fatal Boeing 737 MAX crashes.

23 hours ago

Trump's reported tax methods would be par for the course for the rich, experts say

Vivienne Tay - President Donald Trump has denied an expose by The New York Times saying he effectively paid no income tax for most of the past two decades, but experts said the methods it was reported he employed to reduce his bill are commonly used by wealthy property developers.

23 hours ago

JPMorgan to let most consumer staff work from home until 2021: Report

Vivienne Tay - JPMorgan Chase & Co told thousands of workers across its consumer unit that they could plan to work from home until next year, Bloomberg News reported on Monday, citing memos sent to the bank's staff.

23 hours ago

Musk plans IPO for SpaceX's Starlink business

Rachel Chia - Tesla Inc Chief Executive Officer Elon Musk plans to list SpaceX's space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable.

23 hours ago

LVMH countersues Tiffany in bid to drop US$16 billion acquisition

LVMH countersued Tiffany & Co on Monday, arguing the latter's financial mismanagement in the COVID-19 pandemic permits the French luxury goods giant to walk away from its US$16 billion acquisition of the iconic U.S. jeweler.

24 hours ago

Local SME helps Coca-Cola automate key production step

Lynette Tan - LOCAL enterprise software company PD Solutions, together with a unit of Agency for Science, Technology and Research (A*Star), is behind the automation of a key step in the making of Coca-Cola's drinks, reducing the time taken from days to minutes.

24 hours ago

MYP to sell ABI Plaza for S$200m to Artemis Ventures

Fiona Lam - REAL estate investment firm MYP, which is controlled by Indonesian billionaire Tahir's family, on Monday announced it plans to sell ABI Plaza in Tanjong Pagar for S$200 million.

24 hours ago

Singapore shares up again, along with regional markets

Lee Meixian - THE Straits Times Index (STI) rose for the second straight session on Monday, closing 10.73 points or 0.43 per cent higher at 2,483.01, after official data showed profits at China's industrial firms grew for the fourth straight month in August, and Wall Street concluded last week on a positive ...

24 hours ago

iX Biopharma unit obtains Australia licence to bring product testing in-house

Vivienne Tay - IX Biopharma on Monday said it has obtained a licence in Australia to bring its product testing in-house, improving speed-to-market and potentially saving on testing costs.

24 hours ago

Wilmar's China unit IPO meets 13.9b yuan fundraiser mark on overwhelming subscription

Uma Devi - THE long-awaited initial public offering (IPO) of Wilmar International's China unit, Yihai Kerry Arawana (YKA), successfully raised about 13.93 billion yuan (S$2.81 billion) after the close of applications on Sept 25, said the company in a bourse filing.

24 hours ago

Vicplas shares slump in active trading after board slashes dividend by half

Fiona Lam - SHARES of Vicplas International, which makes medical devices and pipes, sagged on Monday despite an improvement in the group's bottom line for its fiscal year ended July 31.

24 hours ago

FCT to price preferential offering at S$2.34 to S$2.42 per unit

Fiona Lam - THE manager of Frasers Centrepoint Trust (FCT) is undertaking a private placement at an issue price of between S$2.35 and S$2.435 per unit, as well as a non-renounceable preferential offering at between S$2.34 and S$2.42 per unit.

24 hours ago

Worst could be over for retail Reits

Nisha Ramchandani - IT was not too long ago that Singapore's malls were eerily silent, as the "circuit breaker" kept consumers at home and rendered the once bustling shopping centres a veritable ghost town.

24 hours ago

Olam obtains S$200m Sora-pegged club loan from DBS, ICBC Singapore

Rachel Chia - AGRI-FOOD giant Olam International has obtained Singapore's first club loan pegged to the Singapore Overnight Rate Average (Sora) from DBS and the Industrial and Commercial Bank of China, Singapore Branch (ICBC Singapore).

24 hours ago

Singapore set to fine-tune debt moratorium schemes

Jamie Lee - SINGAPORE will soon calibrate its debt moratorium schemes, with the regulator looking to extend its programmes to certain borrowers beyond Dec 31 this year, while also ensuring that those with the ability to pay should begin repayment before the moratoriums expire, The Business Times understands.

24 hours ago

Singapore trial begins on alleged 'ponzi' oil scheme involving C$175m

Kelly Ng - OVER 1,000 investors across Asia have come before the Singapore courts to sue a Singaporean whom they allege to be the mastermind of a ponzi oil investment scheme that defrauded thousands of investors of C$175 million (S$180 million).

24 hours ago

LTA buys 40 more trains from Bombardier Transportation

Rachel Chia - SINGAPORE'S Land Transport Authority (LTA) has purchased another 40 trains from Bombardier Transportation for around S$337.8 million as part of the long-term fleet renewal programme for the North-South and East-West Lines (NSEWL).

24 hours ago

'Cautious optimism' in retail, F&B, but SMEs' outlook at record low

Sharon See - BUSINESS sentiment among small and medium-sized enterprises (SMEs) in Singapore have dipped to a record low, but those in the retail and food and beverage (F&B) sectors appear encouraged by the reopening of physical stores, according to an industry survey.

24 hours ago

Goh Cheng Liang family buys Thye Hong's Garlick Ave GCB

Kalpana Rashiwala - THE family of Singaporean billionaire Goh Cheng Liang is said to be the buyer of a bungalow sitting on 101,550 square feet of freehold land in Garlick Avenue.

24 hours ago

URA clampdown on option re-issue may have some cooling effect on property market

Rachel Mui - THE Urban Redevelopment Authority (URA) has curbed private housing developers from re-issuing the option to purchase (OTP) to the same buyers of the same unit with immediate effect, amid worries that "financial discipline" is slackening despite the recession.

24 hours ago

Miners carve themselves an ugly heritage

David Fickling - THE most shocking thing about Rio Tinto Group's demolition of a 46,000-year-old Aboriginal site in Australia's remote Pilbara region is how commonplace it was.

24 hours ago

No walk in the park for SuperPark creditors, staff

Lynette Tan - THE signs on the doors of SuperPark Singapore, an indoor playground at Suntec City that has been closed since the circuit breaker in April, and its social media pages suggest it will reopen soon. But behind its closed doors, legal and financial woes have ensued, while creditors and employees have b ...

24 hours ago

OneSME platform to help Singapore, China firms expand reach, boost trade

Leila Lai - A CROSS-BORDER digital trade platform for small and medium-sized enterprises (SMEs) in Singapore and China will give local SMEs a new avenue for expansion as they look for ways to grow and thrive amid the Covid-19 pandemic.

24 hours ago

FAs braced for CPFIS fee caps, may be spurred to sell higher cost funds

Genevieve Cua - FINANCIAL advisers and fund distributors are braced for new caps on fund sales charges and portfolio wrap fees under the CPF Investment Scheme (CPFIS), a development that may well have unintended consequences.

24 hours ago

The US$4 trillion US government relies on individual taxpayers

The US government's over US$4 trillion annual budget, the world's largest, relies heavily on individual wage earners whose taxes and retirement benefits are deducted from every paycheck, leaning particularly on the top 20 per cent of income earners.

24 hours ago

Fiat agrees to pay US$9.5 million penalty for misleading on emissions audit - US SEC

Fiat Chrysler will US$9.5 million civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review on its compliance with emissions regulations and that government engineers were concerned about emissions from some of its diesel vehicles ...

1 day ago

US faces ongoing court battles over TikTok, WeChat bans

Ben Paul - The Trump administration faces ongoing court battles after two legal setbacks in its efforts to bar US app stores from offering Chinese-owned TikTok or WeChat for download.

1 day ago

US charges former Amazon executive and her family members with insider trading

The Securities and Exchange Commission on Monday charged a former finance manager at Amazon.com Inc. and two of her family members with insider trading in advance of the company's earnings announcements between January 2016 and July 2018.

1 day ago

US judge urges Apple, Epic Games to put antitrust claims before jury

A federal judge in California on Monday urged Apple Inc and "Fortnite" creator Epic Games to take their antitrust dispute before a jury, saying the higher courts would be less likely to overturn the result.

1 day ago

JPMorgan to let most consumer staff work from home until 2021: Bloomberg News

Ben Paul - JPMorgan Chase & Co told thousands of workers across its consumer unit that they could plan to work from home until next year, Bloomberg News reported on Monday, citing memos sent to the bank's staff.

1 day ago

US EPA chief pans California effort to mandate zero emission vehicles in 2035

The head of the Environmental Protection Agency (EPA) on Monday questioned California Governor Gavin Newsom's plan to require all new passenger vehicle sales in 2035 be zero-emission models, according to a letter seen by Reuters.

1 day ago

Air France leads tax pushback in climate vs recovery fight

Air France-KLM is battling new green taxes on top of the coronavirus crisis - in a test of growing policy tensions between righting Europe's crippled airlines and delivering on climate goals.

1 day ago

Wall Street closes higher as energy, financials lead broad rally

Ben Paul - U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel-related shares leading the advance.