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

Tesla overtakes Volkswagen as world's second most valuable carmaker

Tesla Inc has overtaken Germany's Volkswagen as the world's second most valuable carmaker behind Japan's Toyota , as the meteoric rise in the U.S. electric vehicle maker's shares reshuffles the global market.

3 days ago

Insys founder faces stiff prison sentence, US$100 million-plus in forfeiture

John Kapoor, the founder of Insys Therapeutics Inc , on Thursday could be sentenced to several years in prison and ordered to forfeit up to US$113 million for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis.

3 days ago

US weekly jobless claims rise modestly; labor market solid

Rachel Mui - The number of Americans filing for unemployment benefits increased less than expected last week, suggesting the labor market continues to tighten even as job growth is slowing.

3 days ago

Wuhan virus: Singapore confirms first imported case; another suspected case has positive preliminary test

asyrafkamil -

3 days ago

Explainer: What should employers do if their maids want to be sent home?

gordon.feeney -

3 days ago

STMicro CEO says a Huawei ban would not threaten US$12 billion revenue target

Rachel Mui - Franco-Italian chipmaker STMicroelectronics would still reach its mid-term revenue target in the event of a ban of Huawei telecoms components in Europe, its chief executive said after the group published better-than-expected earnings on growing demand for its next-generation products.

3 days ago

From Communist-era roots to cash cows: Poland's gaming industry takes on the world

The drab exteriors of a pair of 1970s buildings in an industrial Warsaw neighbourhood belie the hive of high-tech activity inside where developers, screenplay writers and others at leading video game maker CD Projekt hustle to create the next global hit.

3 days ago

Waymo to test autonomous trucks, vans in Texas and New Mexico

Rachel Mui - Waymo, the self-driving unit of Alphabet Inc, said on Thursday it will start testing autonomous trucks and vans in Texas and New Mexico this week.

3 days ago

P&G posts first quarterly sales miss in over a year

Rachel Mui - Procter & Gamble Co reported lower-than-expected quarterly sales on Thursday, its first miss in five quarters, hurt by a stronger dollar, sending its shares down about 2per cent.

3 days ago

Koh Brothers Eco Engineering mulls spin-off, listing of unit

Claudia Chong - KOH Brothers Eco Engineering is exploring the possibility of spinning off its majority-owned indirect subsidiary Oiltek and listing it on either the Catalist board of the Singapore Exchange (SGX), or on Bursa Malaysia's ACE Market.

3 days ago

Futures inch lower on worsening China virus concerns, mixed earnings

Rachel Mui - U.S. stock index futures edged lower on Thursday on rising worries over the coronavirus outbreak in China that prompted a lockdown of two cities in the country, with a mixed bag of results adding to the dour sentiment.

3 days ago

American Airlines profit rises 27% as travel demand offsets MAX impact

Rachel Mui - American Airlines Group Inc reported a 27per cent rise in fourth-quarter profit on Thursday, as strong travel demand helped the U.S. airline counter the impact of flight cancellations due to the 737 MAX grounding.

3 days ago

American Airlines profit rises 27per cent as travel demand offsets MAX impact

Ben Paul - American Airlines Group Inc reported a 27per cent rise in fourth-quarter profit on Thursday, as strong travel demand helped the U.S. airline counter the impact of flight cancellations due to the 737 MAX grounding.

3 days ago

Blues health insurers fund US non-profit's generic drug expansion

Ben Paul - A group of Blue Cross Blue Shield insurers is investing US$55 million in a new venture with a non-profit generic drug manufacturer to try to offer cheaper prices on pharmacy drugs to their members, the companies said on Thursday.

3 days ago

Sabana REIT’s 4Q2019 DPU stages rebound, AEI to boost rents at New Tech Park

The Edge Singapore - SINGAPORE (Jan 23): Sabana Shariah Compliant Industrial Real Estate Investment Trust’s distributions per unit (DPU) in 4QFY2019 managed to rebound, rising 8.5% y-o-y to 0.77 cents. DPU in FY2019 fell 8.2% to 2.92 cents. Gearing fell to 31.1%. Donald Han, CEO of Sabana REIT’s manager says he doe ...

3 days ago

StarHub and M1 to submit joint bid for ultra-fast 5G network licence

gordon.feeney -

3 days ago

Comcast's growth in broadband customers offsets fourth-quarter cord-cutting

Comcast Corp's bid to counter cord-cutting with profitable broadband customers continued to pay off in the fourth quarter, as the company on Thursday beat Wall Street's revenue and profit estimates.

3 days ago

Hotel operators waive fees for Chinese hotel cancellations as Wuhan virus fears grow

Ben Paul - InterContinental Hotels and Hyatt will allow guests to change or cancel stays at most Chinese hotels as a deadly coronavirus outbreak overshadows Chinese New Year holiday plans.

3 days ago

France, US agree to push global 'digital tax' talks forward

Ben Paul - DAVOS, Switzerland: France and the United States agreed on Thursday (Jan 23) how to press ahead with a global rewrite of cross-border tax rules for the digital era, French Finance Minister Bruno Le Maire said. Le Maire said he and US Treasury Secretary Steven Mnuchin had set aside a bilateral ...

3 days ago

British officials propose limited 5G role for China's Huawei: Sources

British officials have formally recommended granting Huawei a limited role in the UK's future 5G network, resisting U.S. calls for a complete ban over fears of Chinese spying, two people with knowledge of the matter told Reuters.

3 days ago

P&G's quarterly sales miss Wall Street estimates, shares fall

Ben Paul - Procter & Gamble Co reported lower-than-expected quarterly sales on Thursday, its first miss in five quarters, hurt by a stronger dollar, sending its shares down about 2per cent.

3 days ago

UK's Morrisons to create 4,000 store jobs, cut management roles

Ben Paul - Morrisons , Britain's No. 4 supermarket group, plans to create over 4,000 store jobs, while reducing management roles, it said on Thursday.

3 days ago

More than 9 years’ jail, 6 strokes for pizza deliveryman who introduced teen to ‘ice’, sexually assaulted him

gordon.feeney -

3 days ago

Southwest quarterly profit falls on mounting 737 MAX costs

Southwest Airlines Co reported a 21 per cent fall in fourth-quarter profit on Thursday (Jan 23) due to Boeing 737 MAX costs and warned that it will likely extend flight cancellations beyond June as the jets look set to remain parked well into this year.

3 days ago

Mexico goes ghost as its oil hedge bill spirals

MEXICO CITY/NEW YORK: Mexico is playing a risky game of hide and seek with the oil market. To frustrate speculators and contain an annual bill of more than US$1 billion, Mexico is going to new lengths to mask its attempts to insure its revenue from oil sales against falling prices - no mean feat ...

3 days ago

UOL Group to buy 154-room hotel in Jakarta for US$50m

Claudia Chong - UOL Group has entered into an agreement to buy a 154-room hotel in Jakarta, Indonesia from PT Success Venture Hotel Investments for US$50 million.

3 days ago

Singapore Exchange posts 2.6% increase in 2Q earnings to $99.0 mil, acquires 93% stake in Scientific Beta for $280 mil

Uma Devi - SINGAPORE (Jan 23): Singapore Exchange (SGX) reported 2Q20 earnings of $99.0 million, 2.6% higher than $96.5 million a year ago.  This brings 1H20 earnings to $213.3 million, a 13.7% increase from $187.6 million reported for 1H19.  Operating revenue for the quarter saw a 3% increase to $230.9 mil ...

3 days ago

Avoid travel to Wuhan, says MOH amid Wuhan’s citywide lockdown

siewfern -

3 days ago

Synagie Corp reaches full settlement with third-party provider

Claudia Chong - SYNAGIE Corporation said on Thursday that it has come to a full and final settlement of all claims with a third-party service provider.

3 days ago

British officials propose limited 5G role for China's Huawei - sources

Tay Peck Gek - British officials have formally recommended granting Huawei a limited role in the UK's future 5G network, resisting U.S. calls for a complete ban over fears of Chinese spying, two people with knowledge of the matter told Reuters.

3 days ago

ESR-REIT's CEO outlines merger benefits, growth plans

The Edge Singapore - SINGAPORE (Jan 23): Adrian Chui, CEO of ESR-REIT’s manager may have started a trend. In 2018, ESR-REIT merged with Viva Industrial Trust in a share and cash offer. VIT unitholders were paid 96 cents per unit of which 90% was with ESR-REIT units, and 10% in cash. In 2019, two mergers were complete ...

3 days ago

Keppel Corp posts 41.5% rise in Q4 earnings to S$191.4m

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, on the back of stronger performance from the offshore and marine (O&M), property and investments divisions.

3 days ago

CDLHT's hotel deals get nod of approval from securityholders

Claudia Chong - CDL Hospitality Trusts' (CDLHT) stapled securityholders have voted in favour of its two proposed hotel deals.

3 days ago

United States cautions Britain over Huawei

The United States cautioned Britain ahead of a decision by Prime Minister Boris Johnson on what role Huawei will have in 5G telecommunications networks that Washington still had significant concerns about the Chinese telecoms behemoth.

3 days ago

Volkswagen CEO: Seat's de Meo probably in talks with Renault - CNBC

The chief executive of Volkswagen told CNBC that Luca de Meo, who earlier this month stepped down as chief executive of the German carmaker's Spanish Seat brand, was probably in talks with Renault .

3 days ago

Design Studio CFO resigns as group makes plans to restructure

Claudia Chong - DESIGN Studio Group, which intends to undergo a court-supervised restructuring, said on Thursday that its chief financial officer (CFO) Lilian Tan Yin Yen has resigned.