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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1 day ago

Exclusive: Sears finalizing US$350 million bankruptcy loan with Great American - sources

Anita Gabriel - Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for US$350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday.

1 day ago

Wall Street gives up early gains as Apple weighs

Anita Gabriel - U.S. stock index futures gained on Wednesday after U.S. consumer prices in October rose in line with expectations and added little pressure on the Federal Reserve for further interest rate hikes.

1 day ago

US safety board holds hearing on fatal Southwest engine explosion

Anita Gabriel - The U.S. National Transportation Safety Board opened an investigative hearing on Wednesday into the fatal engine explosion on a Southwest Airlines Boeing 737 that killed one passenger.

1 day ago

Blue Apron says it would sacrifice revenue growth in 2019; shares tumble

Anita Gabriel - Blue Apron Holdings Inc said on Wednesday it would sacrifice overall revenue growth and cut marketing expenses in 2019, sending shares into volatile decline.

1 day ago

Talks on RCEP trade pact taking 'much longer than usual', but set for 2019 completion: PM Lee

Anita Gabriel - SINGAPORE: Negotiations on the Regional Comprehensive Economic Partnership (RCEP) have taken “much longer than usual” but the bid to complete the world’s largest trade pact is poised for conclusion in 2019, said Singapore’s Prime Minister Lee Hsien Loong on Wednesday (Nov 14).  Speaking at ...

1 day ago

Wall Street gains on tame inflation data, oil rebound

Anita Gabriel - U.S. stock index futures gained on Wednesday after U.S. consumer prices in October rose in line with expectations and added little pressure on the Federal Reserve for further interest rate hikes.

1 day ago

Exclusive: Sears finalizing US$350 bankruptcy loan with Great American - sources

Anita Gabriel - Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for US$350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday.

1 day ago

10,000 users hit by fibre broadband outage, services to be restored by Thursday

youjin.low - 32 min 26 sec agoSINGAPORE — A mid-afternoon fibre broadband disruption that affected about 10,000 use

1 day ago

Utility PG&E sued by victims of California wildfire

Anita Gabriel - REUTERS: A group of three law firms representing multiple victims of California's deadliest wildfire has filed a lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in the blaze that has killed at least 48 people. The lawsuit seeking damages ...

1 day ago

Wall Street opens higher after in-line CPI data, oil rebound

Anita Gabriel - U.S. stock index futures gained on Wednesday after U.S. consumer prices in October rose in line with expectations and added little pressure on the Federal Reserve for further interest rate hikes.

1 day ago

AFIN launches IFC-backed cross-border fintech platform API Exchange

Ishita Russell - The platform is aimed at connecting companies to financial institutions globally and become a banking solution for the unbanked. The post AFIN launches IFC-backed cross-border fintech platform API Exchange appeared first on DealStreetAsia.

1 day ago

UnUsUaL Limited posts 30.4% rise in Q2 profit

Tay Peck Gek - UNUSUAL Limited's earnings for the second quarter improved 30.4 per cent year-on-year from S$2.5 million to S$3.2 million, on the back of better performance from its promotion and other business.

1 day ago

Paedophile, 53, admits to luring 2 teen sisters to his flat, sexually assaulting them

linfhoong - Louisa Tang1 hour 16 min agoSINGAPORE — A diagnosed paedophile and repeat offender lured a teenage girl to his fl

1 day ago

United Engineers reports 16% lower 3Q earnings of $7.7 mil on revenue decline

Michelle Zhu - SINGAPORE (Nov 14): United Engineers reported 16% lower 3Q18 earnings of $7.7 million, down from $9.1 million a year ago on lower revenue. Revenue fell 31% y-o-y to $81.5 million from $118.2 million in 3Q17, mainly due to lower revenue from the property development segment as well as in the absence ...

1 day ago

SIIC Environment reports 3.7% rise in 3Q earnings to $22.7 mil despite lower revenue

PC Lee - SINGAPORE (Nov 14): SIIC Environment Holdings, the China-based water treatment and environmental protection company, announced 3Q18 earnings of RMB114.3 million ($22.7 million), up 3.7% from a year ago on lower costs. Total 3Q18 revenue fell 21% to RMB1.07 billion due to 58.5% lower construction sa ...

1 day ago

US consumer prices post largest rise in nine months

Anita Gabriel - U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.

1 day ago

SunMoon's 2Q losses widen to $2.62 mil due to higher cosr of sales

Samantha Chiew - SINGAPORE (Nov 14): SunMoon Food Company reported 2Q18 losses widened to $2.62 million, compared to losses of $990,000 in 2Q17. This brings 1H18 losses to $3.48 million, compared to earnings of $834,000 in 1H17. Revenue for the quarter came in at $14.3 million, 44% higher than $9.92 million in the ...

1 day ago

Futures up after October consumer prices rise as expected

Navin Sregantan - U.S. stock index futures gained on Wednesday after U.S. consumer prices in October rose in line with expectations and added little pressure on the Federal Reserve for further interest rate hikes.

1 day ago

PG&E shares dive after utility flags impact from Camp fire

Navin Sregantan - Shares of the utility PG&E Corp fell 18 percent after the company said if it was found liable for the Camp fire raging in California, the damages could be more than its insurance coverage and hurt cash flow and liquidity.

1 day ago

Hong Leong Asia Q3 earnings down 36.4% to S$2.8m, hit by construction decline

Tay Peck Gek - HONG Leong Asia has reported a weaker third-quarter net profit of S$2.8 million, down 36.4 per cent from S$4.4 million as it has been hit by the decline in the construction industry in Singapore while its Malaysian subsidiary faced keen price competition due to fewer property projects and excess ...

1 day ago

Go-Jek’s beta app to launch in S’pore before Christmas

youjin.low - Janice Lim7 min 36 sec agoSINGAPORE — Ride-hailing firm Go-Jek is expected to deliver an early Christmas presen

1 day ago

Macy's boosts annual earnings forecast ahead of holiday season

Navin Sregantan - REUTERS: Department store chain Macy's Inc raised its annual earnings forecast on Wednesday, signaling a strong holiday shopping season ahead, as it benefits from a growing online business and a revamped loyalty program. Macy's also reported a much better than expected profit for the third ...

1 day ago

ASEAN a bright spot at a time when multilateral trading system under stress, says PM Lee

Navin Sregantan - SINGAPORE: The Association of Southeast Asian Nations (ASEAN) has remained a bright spot even as the multilateral trading system, which has underpinned global growth and stability, is under stress, Prime Minister Lee Hsien Loong said on Wednesday (Nov 14). Speaking at a working lunch he hosted for . ...

1 day ago

AMKTC corruption trial: Man accused of bribing former GM threatened to report business partner to CPIB

youjin.low - Louisa Tang34 min 36 sec agoSINGAPORE — Company director Chia Sin Lan threatened to report his business partner t

1 day ago

Fragrance Group's earnings for Q3 down by 47.5% to S$2.2m

Tay Peck Gek - MAINBOARD-LISTED real estate developer Fragrance Group's net profit dived 47.5 per cent from S$4.2 million to S$2.2 million in the third quarter, as a result of a 20 per cent decline in its revenue and lower contributions from its joint venture.

1 day ago

Samsung BioLogics' listing under review after regulator says it breached accounting rules

Kalpana Rashiwala - SEOUL: South Korea's top financial regulator said Samsung BioLogics Co Ltd had intentionally breached accounting rules ahead of its 2016 listing, leading to a suspension in trading of the biotech firm's shares and a review of its listing status. The Financial Services Commission (FSC), which has ...

1 day ago

Bain Capital Ventures closes US$1 billion fund amid venture fund-raising frenzy

Kalpana Rashiwala - Bain Capital Ventures, the venture capital division of the eponymous Boston-based investment firm, said it has raised a new US$1 billion fund to invest in startups, adding to a year of big-dollar fund-raising by tech investors.

1 day ago

Credit bureau TransUnion CEO to retire in May 2019

Wong Kai Yi - US consumer credit reporting agency TransUnion said on Wednesday Chief Executive Officer James Peck, who led the initial public offering of the company in 2015, will retire in May and be succeeded by Christopher Cartwright.

1 day ago

VW's Skoda Auto says October deliveries down 7.4 percent year-on-year

Wong Kai Yi - Deliveries of Skoda Auto cars, part of the Volkswagen Group , dropped 7.4 percent in October, largely in European markets due to conversions to conform to the Worldwide Harmonised Light Vehicle Test (WLTP) anti-pollution rules.

1 day ago

Angst for German economy as car woes slam on brakes

Wong Kai Yi - Germany's years-long run of steady growth came to a screeching halt in the third quarter, official data showed Wednesday, with an expected bottleneck in the vital car industry matched by broader structural concerns.

1 day ago

The Straits Trading Company reports 18.1% higher Q3 earnings

Tay Peck Gek - THE Straits Trading Company has recorded 18.1 per cent higher earnings for the third quarter, largely on the back of increased contributions from an enlarged property portfolio.

1 day ago

US farmers scramble to contain trade-war damage, find new markets

Wong Kai Yi - Clouds crowded the Illinois sky as Nick Harre walked away from his combine at the peak of harvest to join four fellow farmers in greeting some unlikely visitors.

1 day ago

Tencent profit beats estimates as investment gains offset gaming weakness

Ann Williams - Tencent Holdings said on Wednesday net profit in the September quarter rose 30 percent, beating estimates, as investment gains helped offset a weak performance in its core gaming business.

1 day ago

How Starbucks’ growth nearly destroyed the business, until one man saved its skin

Siow Li Sen - It cannibalised its own stores and lost its soul along the way, forcing its former CEO to return and steer it through a crisis. Inside the Storm looks at how he made his mark on this coffee giant twice.

1 day ago

Pfizer loses blockbuster drug patent fight in UK Supreme Court

Siow Li Sen - Pfizer lost the final round in a long-running patent battle in Britain on Wednesday after the country's highest court ruled against it in a case involving its US$5 billion-a-year pain drug Lyrica.

1 day ago

Tencent third-quarter profit rises 30% on investment gains

Siow Li Sen - Tencent Holdings said on Wednesday net profit in the September quarter rose 30 percent, beating estimates, as investment gains helped offset a weak performance in its core gaming business.