1 day ago
UOB further cuts interest rates of flagship account
Natalie Choy - UOB has joined its Singapore banking peers in deepening cuts to interest rates tied to flagship savings accounts, reflecting the prolonged low-interest rate environment.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
1 day ago
Banks in Singapore band together to lift standards for commodity financing
Jamie Lee - BANKS with operations in Singapore are banding together to raise industry standards for commodity financing in Singapore.
1 day ago
Wirecard scandal puts audit firms, not fintechs, in hot seat
Natalie Choy - THE fraud probes into scandal-hit Wirecard are more likely to put question marks on the strength of the traditional field of auditing, than outrightly tarring the reputation of fintechs, said observers.
1 day ago
Singapore Wirecard merchants scramble to jump ship
Vivien Shiao - SINGAPORE merchants that use Wirecard to process payments are quickly switching to the beleaguered fintech's competitors, spooked by the downfall of the Wirecard parent that has collapsed into insolvency.
1 day ago
PAP failed to deliver promise to lessen cost of living: Chee
Mindy Tan - SINGAPORE Democratic Party (SDP) chief Chee Soon Juan said in a party political broadcast on Thursday that the People's Action Party (PAP) government has not delivered on its promise to lessen cost of living burdens.
1 day ago
Rise in community cases 'not unexpected' with reopening, testing
Lynette Tan - IT is "not unexpected" that coronavirus cases in the community have gone up of late - and will continue to increase - as Singapore progresses further in Phase Two of its reopening and testing is expanded, said the Multi-Ministry Taskforce on Covid-19 at a virtual press conference on Thurs ...
1 day ago
Economy, NCMP-vs-elected MP debate at front and centre on third day of campaigning
Janice Heng - TWO vastly different issues - economic concerns and elected representation - dominated the discourse on Thursday, the third day of campaigning in the lead-up to the July 10 General Election.
1 day ago
PSP will fight for full disclosure on use of reserves: Tan Cheng Bock
Kelly Ng - IF given seats in the House, the Progress Singapore Party (PSP) will ask tough questions of the ruling People's Action Party (PAP) and serve as a check on how the government is stewarding Singapore's reserves, PSP chief Tan Cheng Bock said on Thursday.
1 day ago
PAP does not need all elected seats to have mandate to govern: Pritam
Sharon See - A COMPLETE dominance of Parliament by one party could allow a tiny number of people to control everything, the Workers' Party's (WP) chief Pritam Singh said in a televised speech on Thursday night.
1 day ago
More good jobs and better life for all Singaporeans: Heng
Chuang Peck Ming - SINGAPORE under the People's Action Party (PAP) in the next five years will see efforts stepped up to transform and grow the economy to make it more innovative and resilient, the party said on Thursday night in the first of two political broadcasts made available to the contenders of this Gene ...
1 day ago
Liquidity driving STI towards June peak, but forecasts turning cautious
Marissa Lee - A SEA of liquidity will likely keep local blue chips buoyant for the rest of the year. But few pundits expect the benchmark Straits Times Index (STI) to push past the peak of its short-lived rally in June, a mid-year tally by The Business Times has shown.
1 day ago
Fed balance sheet shrinks further, and still no Main Street loans
Fiona Lam - The U.S. Federal Reserve's massive stash of bonds and other assets slipped for a third straight week to its smallest size since mid-May, data released by the central bank on Thursday showed.
1 day ago
Luckin Coffee's Lu holds on to chairman role
Annabeth Leow - XIAMEN, China: Luckin Coffee Inc said on Thursday (Jul 2) co-founder Charles Zhengyao Lu will stay on as chairman of the embattled coffee chain after a proposal to oust him, stemming from an internal fraud investigation, failed to get board approval. The move to oust Lu was proposed by a majority .. ...
1 day ago
Nasdaq again closes at record, Dow +0.4%
Annabeth Leow - NEW YORK: Wall Street shrugged off surging coronavirus cases to end a shortened trading week with gains on Thursday (Jul 2), fuelled by an unexpectedly healthy US jobs report that bolstered hopes the economy is recovering. The Dow Jones Industrial Average gained 0.36 per cent to close at 25,827.36 ...
1 day ago
Wall Street closes higher after biggest payrolls jump on record
Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.
1 day ago
Luckin Coffee fails to get board approval to oust chairman
Luckin Coffee Inc said on Thursday a proposal to remove Charles Zhengyao Lu as chairman of the embattled coffee chain's board did not get the number of necessary votes from directors to pass.
1 day ago
Boeing communications chief resigns over article on women in combat
Annabeth Leow - SEATTLE: Boeing Co's communications chief Niel Golightly has resigned his position, the company said on Thursday (Jul 2), following an employee's complaint over an article the former US military pilot wrote 33 years ago arguing women should not serve in combat. "My article was a 29-year-old Cold .. ...
1 day ago
Boeing communications chief resigns over decades-old article on women in combat
Annabeth Leow - Boeing Co's communications chief Niel Golightly has resigned his position, the company said on Thursday, following an employee's complaint over an article the former U.S. military pilot wrote 33 years ago arguing women should not serve in combat.
1 day ago
Wall Street shifts bets to big pharma as COVID-19 vaccine race progresses
Annabeth Leow - Wall Street is moving some bets on COVID-19 vaccines to large pharmaceutical companies with robust manufacturing capabilities, signaling that a love affair with small biotech firms might be ending after the sector’s best quarter in almost 20 years.
1 day ago
Spain to hike taxes to offset impact of coronavirus crisis
Annabeth Leow - MADRID: Prime Minister Pedro Sanchez on Thursday (Jul 2) said fiscal reform was "inevitable" if Spain was to deal with the economic crisis triggered by the coronavirus pandemic, pointing to tax hikes, notably for larger companies. Sanchez also pledged 9.0 billion euros (US$10.1 billion) for ...
1 day ago
Fed's Powell continued to talk frequently with Mnuchin, lawmakers in May
Annabeth Leow - Federal Reserve Chair Jerome Powell continued to talk regularly with Treasury Secretary Steven Mnuchin and key U.S. lawmakers in May as the United States began to turn the corner on the economic fallout from the coronavirus pandemic, Fed records released on Thursday showed.
1 day ago
GE2020: PAP’s Chan Chun Sing calls for careful scrutiny of opposition manifestos, as the parties ‘can possibly replace the Govt’
siewfern -
1 day ago
GE2020: At 80, ‘hypebeast’ Tan Cheng Bock becomes an unexpected Instagram sensation
siewfern -
1 day ago
US job growth roars back, but COVID-19 resurgence threatens recovery
Annabeth Leow - The U.S. economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, which would offer further evidence that the COVID-19 recession was probably over, though a surge in cases of the coronavirus threatens the fledgling recovery.
1 day ago
Spain fines staff of China's ICBC for money laundering
Annabeth Leow - MADRID: Spain's top criminal court fined four former employees of Chinese mega-bank ICBC 22.7 million euros (US$25.5 million) on Thursday (Jul 2) and handed them brief jail terms for laundering millions of euros for Chinese criminal groups. The four included two senior executives of the Spanish ...
1 day ago
US job growth recovers in June amid COVID-19 resurgence
WASHINGTON, DC: The US economy created jobs at a record clip in June as more restaurants and bars reopened, but 31.5 million Americans were collecting unemployment cheques in the middle of the month, and a resurgence in COVID-19 cases suggested the labour market could suffer a setback in July ...
1 day ago
GE2020: A WhatsApp election? Messaging apps abuzz with political news and discussions among young and old
razalia -
1 day ago
US Senate committee approves anti-child porn bill after addressing Google, Facebook encryption concerns
Annabeth Leow - WASHINGTON: The Senate Judiciary Committee unanimously voted to approve a bill aimed at ending the spread of online child sexual abuse material after attempting to address concerns from U.S. tech companies that the proposed law goes too far to weaken privacy protections for ordinary users. Tech ...
1 day ago
EU regulators checking if Fitbit deal will boost Google's clout
Annabeth Leow - EU regulators are checking whether Google's purchase of Fitbit might allow it to drive rival makers of wearable devices, app developers and other online service providers out of the market, and boost its dominance in online advertising and search.
1 day ago
GE2020: SDP’s ‘10 million population’ falsehood renders campaign pointless, calls into question party’s integrity, says PAP
razalia -
1 day ago
Tesla to make molecule printers for German COVID-19 vaccine developer CureVac
Annabeth Leow - Tesla Inc is building mobile molecule printers to help make the potential COVID-19 vaccine being developed by CureVac in Germany, the electric-car maker's Chief Executive Officer, Elon Musk, tweeted on Wednesday.
1 day ago
German watchdog chief calls Wirecard scandal a 'massive criminal act'
The head of Germany's financial watchdog on Thursday called the accounting scandal at Wirecard "a massive criminal act", while Deutsche Bank said it was considering support for the collapsed payments company's banking unit.
1 day ago
GE2020: PAP’s Ong Ye Kung takes down Facebook video that infringed electoral rules
siewfern -
1 day ago
Paya Lebar Square mall, Cold Storage at West Mall among places visited by Covid-19 cases while infectious
asyrafkamil -
1 day ago
WP supports broad-based, inclusive economic growth: Sylvia Lim
Nisha Ramchandani - THE Workers' Party (WP) supports economic growth that is broad-based and inclusive, chairperson Sylvia Lim emphasised in the party's latest episode of Hammer Show, which was streamed Thursday night on Facebook.
1 day ago
Unions urge Airbus to slow down restructuring plans
Annabeth Leow - French unions and regional leaders urged Airbus on Thursday to step back from a Big Bang restructuring as workers across Europe waited for a factory-by-factory breakdown of 15,000 job cuts brought about by the coronavirus pandemic.