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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2 days ago

India's Adani Group says evaluating action against Hindenburg Research

BENGALURU : Adani Group said on Thursday it is evaluating "remedial and punitive action" under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.Shares in seven listed group companies of Adani lo ...

2 days ago

India's Adani Group says it is evaluating action against Hindenburg Research

BENGALURU: Adani Group said on Thursday (Jan 26) that it is evaluating "remedial and punitive action" under United States and Indian laws against short-seller Hindenburg Research

2 days ago

Stocks to watch: Frasers Centrepoint Trust, Frasers Property, Mapletree Industrial Trust

Chelsea Ong - THE following companies saw new developments that may affect trading of their securities on Friday (Jan 27): 

2 days ago

Renault-Nissan alliance reboot will kick off with five projects

RENAULT and Nissan Motor are moving ahead with a plan to recalibrate their two-decades-old alliance that has weakened over time, with executives agreeing to pursue a range of industrial projects and rebalance capital ties, according to people familiar with the situation.

2 days ago

Toymaker Hasbro laying off 1,000 to cut costs

PAWTUCKET, Rhode Island: Toymaker Hasbro said on Thursday (Jan 26) that it is cutting about 1,000 jobs as part of moves announced last year to save up to US$300 million annually by 2025. The nearly century-old Rhode Island-based company behind Monopoly, Play-Doh and My Little Pony toys said that the ...

2 days ago

Tokyo Jan core CPI rises 4.3% yr/yr -government

TOKYO : Core consumer prices in Japan's capital, Tokyo, rose 4.3 per cent in January from a year earlier, government data showed on Friday.The increase compared with a median market forecast for a 4.2 per cent gain.

2 days ago

US shuts down major global ransomware group Hive

THE US Justice Department announced on Thursday it had shut down the Hive ransomware operation, which had extorted more than US$100 million from more than 1,500 victims worldwide.

2 days ago

Activist Elliott to nominate directors at Salesforce -sources

NEW YORK : Elliott Management Corp, the activist investment firm that recently made a multimillion-dollar investment in Salesforce, plans to nominate several director candidates at the cloud-based software company, people familiar with the matter said on Thursday.Elliott, which invests more than $55 ...

2 days ago

Shell says reviewing home energy business in UK, Germany, Netherlands

SHELL is conducting a “strategic review” of its home energy retail business in the UK, the Netherlands and Germany amid “tough market conditions,” the British energy giant announced on Thursday.

2 days ago

Bed Bath & Beyond says it received default notice from JPMorgan

BED Bath & Beyond edged closer to a bankruptcy filing on Thursday (Jan 26) after the retailer said it had received a default notice from JPMorgan Chase & Co, its loan agent, and warned it didn’t have enough funds to make payments.

2 days ago

US growth slows in 2022 as downturn fears loom

WASHINGTON: The US economy grew at a slower pace in 2022 but performed better than expected in the final months of last year, the Commerce Department said on Thursday (Jan 26), as recession fears loomed. Economic activity has been moderating as the US central bank hiked the benchmark lending rate se ...

2 days ago

LG Display posts 3rd consecutive quarterly loss on weak panel demand

SEOUL : South Korean display panel maker LG Display posted on Friday its third consecutive quarterly loss, as global demand for electronic gadgets such as smartphones, computers and televisions remain depressed amid an uncertain economic outlook.The Apple Inc supplier posted a 876 billion won ($711. ...

2 days ago

French luxury group LVMH posts record sales, net profit for 2022

2 days ago

Visa, Mastercard see card spending to slow as inflation persists

VISA and Mastercard saw purchase volumes on their cards climb less than expected in the final three months of the year, a sign that historic levels of inflation have begun to put a damper on consumer spending.

2 days ago

Hasbro to cut 1,000 full-time jobs globally in 2023

HASBRO said on Thursday it would eliminate about 1,000 positions from its global workforce this year, or about 15 per cent of full-time employees, as the toymaker looks to cut costs in a tough macroeconomic backdrop.

2 days ago

Oil settles up 2% on strong US data, China reopening

OIL prices rose about 2 per cent on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive US economic data.

2 days ago

Europe: Earnings optimism helps shares snap two-day dip

EUROPEAN shares rose on Thursday as upbeat results eased some worries about a profit hit from higher borrowing costs, while US economic data bolstered hopes of a soft landing.

2 days ago

Commentary: Gen Z, don't make yourself hard to employ and easy to fire

For any young worker who needs to hear this, your power in the labour market won’t last and quietly quitting could be setting you up to get loudly fired, says Allison Schrager for Bloomberg Opinion.

2 days ago

Commentary: Is Singapore ready to have driverless cars on its roads?

Several cities in the US and China have already put driverless cars into commercial service. SUSS’ Ku Swee Yong and Dr Sheila Conejos look at how close Singapore is to weaving this technology into its transportation mix.

2 days ago

US: Wall Street gains as solid GDP data offsets signs of economic weakness

WALL Street advanced in choppy trading on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings, all while eyeing the clock as it ticks down toward next week’s Federal Reserve monetary policy meeting.

2 days ago

Foreign currency fixed deposits see more takers amid rising interest rates, strong Singdollar

Banks in Singapore are now offering higher interest rates for some foreign currency fixed deposits than Singdollar deposits.

2 days ago

Anwar’s official visit to Singapore may bring several pressing issues to the fore

Tan Ai Leng - [KUALA LUMPUR] When Anwar Ibrahim was sworn in as Malaysia’s prime minister last November, the 75-year-old became the country’s fourth leader in the space of just four years.

2 days ago

Malaysia PM Anwar’s official visit to Singapore may bring several pressing issues to the fore

Tan Ai Leng - [KUALA LUMPUR] When Anwar Ibrahim was sworn in as Malaysia’s prime minister last November, the 75-year-old became the country’s fourth leader in the space of just four years.

2 days ago

Time for Singapore’s biggest investors to lay out their own ultimatums for companies

Joan Ng - OF THE many panels and discussions I attended while at the World Economic Forum in Davos, my favourite was one by the chief of Norges Bank Investment Management. Nicolai Tangen criticised the boards of large listed companies for paying their top executives too much, for failing to come up with plans ...

2 days ago

Chip toolmaker KLA flags weak Q3 as customers use up inventory; shares sink

:U.S. chip toolmaker KLA Corp on Thursday forecast its slowest growth in 16 quarters for the January-March period, saying it expects customers to whittle down existing stockpiles of chips as demand from end-users slows.The company's revenue and profit outlook for the current third quarter was b ...

2 days ago

Chip equipment maker KLA's third-quarter forecasts disappoint, shares sink

:U.S. chip toolmaker KLA Corp on Thursday forecast third-quarter revenue and profit below Wall Street estimates, the latest company to signal a hit from easing demand as customers seek to reduce excess inventory.The company's shares fell more than 5 per cent in trading after the bell."As w ...

2 days ago

KLA forecasts Q3 revenue below estimates

US chip toolmaker KLA Corp on Thursday forecast third-quarter revenue below Wall Street estimates, sending its shares down about 5.3 per cent after market. The chip manufacturing equipment maker expects third-quarter revenue between $2.2 billion and $2.5 billion, falling short of analysts' expe ...

2 days ago

Home Depot Canada found sharing customer personal data with Meta: Privacy regulator

Home Depot Inc's Canadian arm was found to be sharing details from e-receipts related to in-store purchases with Facebook owner Meta Platforms Inc without the knowledge or consent of its customers, according to Canada's privacy regulator. An investigation by the Office of the Privacy Commi ...

2 days ago

Intel 'stumbled,' CEO says; shares drop 9.5% as loss forecast

Intel Corp said on Thursday it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division.The company's shares fell 9.5 per cent in trading after the bell. "We stumbled, r ...

2 days ago

Intel CEO: 'We stumbled' shares drop 9% as loss forecast

Intel Corp said on Thursday it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division.The company's shares fell 9 per cent in trading after the bell. "We stumbled, rig ...

2 days ago

Intel sees more losses as PC makers sharply cut chip buying, shares slump

:Intel Corp said it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division.The company's shares fell 7 per cent in trading after the bell. Two of Intel's most importan ...

2 days ago

Intel forecasts first-quarter revenue below expectations

Chipmaker Intel Corp forecast first-quarter revenue below Wall Street targets on Thursday (Jan 26), slammed by a worsening PC market and data center clients delaying purchases amid fears of a global recession. Shares of the company fell 7 per cent in trading after the bell. The PC industry is str

2 days ago

South Korean manufacturers' business sentiment drops to weakest in over 2 years

SEOUL: South Korean manufacturers' business sentiment for February weakened to the worst level in over two years, a central bank survey showed on Friday (Jan 27), hurt by heightened uncertainty over the economic outlook. An index that measures the business outlook for the manufacturing sector d ...

3 days ago

Spotify back up after second outage in two weeks

:Spotify Technology SA's music streaming platform suffered a brief outage on Thursday, leaving tens of thousands of users unable to access the platform before services appeared to come back online."Everything's looking much better now," Spotify Status, an account that provides up ...

3 days ago

Spotify down for thousands of users: Downdetector

Spotify Technology SA's music streaming platform was down for thousands of users on Thursday (Jan 26), according to outage-tracking website Downdetector.com. In the second such outage within two weeks, nearly 35,000 Spotify users reported on Downdetector.com they were having issues with the str ...

3 days ago

BuzzFeed soars on reports of plans to use ChatGPT's OpenAI, Meta deal

Shares of BuzzFeed extended gains to more than double in value on Thursday (Jan 26) on reports the digital media firm was planning to use artificial intelligence to personalize and enhance its online quizzes and content. "In 2023, you'll see AI inspired content move from an R&D stage t ...