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

Reits sold down as investors fret over challenges facing landlords

Rachel Mui - REAL estate investment trusts took a tumble on Thursday, with retail Reits bearing the brunt of the selling after the government announced it will legislate to ensure that landlords pass on in full property tax rebates to their tenants.

1 day ago

Central banks' rate cuts cascade down to Singapore banks' key deposit accounts

Kelly Ng - SINGAPORE banks this week slashed several rates on their flagship deposit accounts, reflecting the weaker rate environment globally.

1 day ago

Singapore SMEs' business optimism hits lowest since 2009: Poll

Rachel Chia - SMALL and medium-sized enterprises (SMEs) in Singapore, hit hard by the Covid-19 outbreak, are nursing the lowest levels of business optimism since 2009.

1 day ago

MICE players call for higher wage offsets

Leila Lai - COMPANIES in the meetings, incentive travel, conventions and exhibitions (MICE) industry have queried their exclusion from the highest tier of a key support measure in the Resilience Budget.

1 day ago

Time to give Singapore's fair tenancy framework legislative bite

Mindy Tan - FIVE years after a committee under the Singapore Business Federation (SBF) came up with guidelines aimed at halting unfair leasing practices and months after we first heard of Covid-19, which then was known under a different name, concrete steps are finally being taken to right the perceived imbala ...

1 day ago

New laws to compel landlords to pass on property tax rebate

Lynette Tan - BUSINESSES on Thursday hailed a newly proposed legislation that will ensure non-residential landlords pass on property tax rebates in full to all tenants, with some saying it's long overdue.

1 day ago

STI claws back early losses to end higher

Navin Sregantan - SINGAPORE'S Straits Times Index (STI) had a strong finish on Thursday, even as investors grapple with a rising rate of Covid-19 infections in the West and the growing sense that the worst is now over for Asia.

1 day ago

Betting on the market's daily ups and downs

Angela Tan - WIDER uncertainty in capital markets, a result of Covid-19, has brought to the fore some investment tools that local traders are using to bet on intraday or short-term moves.

1 day ago

Red hot demand forces RedMart to suspend new orders, Specialty Stores marketplace

Sharanya Pillai - ONLINE grocer RedMart has freezed new orders up till Saturday, while also suspending its RedMart Specialty Stores (RSS) online marketplace from Thursday, amid a demand surge triggered by the Covid-19 outbreak.

1 day ago

Food, grocery delivery startups struggle with order deluge

Sharanya Pillai - THE Covid-19 outbreak has sent demand for grocery and food delivery services spiking, testing the resilience of their logistics capabilities. The pressure could spur these players to strengthen their systems, but there is a risk of ending up with excess capacity once the outbreak is over, say indus ...

1 day ago

Index DLCs on SGX see higher activity in March

Angela Tan - SINGAPORE Exchange (SGX) saw March turnover for its daily leverage certificates (DLCs) triple year-on-year ago as traders used the financial instruments to hedge investment portfolios and capture short-term market trends.

1 day ago

Trendlines sells ApiFix stake in its largest exit since IPO

Vivienne Tay - CATALIST-LISTED startup incubator The Trendlines Group has sold its 18.62 per cent stake in ApiFix, a scoliosis treatment company, to Nasdaq-listed OrthoPediatrics.

1 day ago

Deeper pay and fee cuts for SIAEC management, directors

Fiona Lam - THE management of SIA Engineering Company (SIAEC) is taking a deeper pay cut than previously announced, while the directors have also volunteered a larger reduction in their fees.

1 day ago

Golden Energy unit makes 2nd attempt to take over Stanmore Coal

Rachel Mui - MAINBOARD-LISTED Golden Energy and Resources (Gear) is making a second attempt at taking over Australia-listed Stanmore Coal, after its previous offer was rebuffed by shareholders of the coking-coal company.

1 day ago

US weekly jobless claims hit record once again

Claudia Tan - WASHINGTON: The number of Americans filing claims for unemployment benefits last week shot to a record high for a second week in a row, topping six million as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into ...

1 day ago

Wall Street ends with mild gains, Dow up 2.3%

Claudia Tan - NEW YORK: Wall Street stocks posted mild gains on Thursday (Apr 2) despite data showing another 6.65 million workers filed for jobless benefit claims last week as the coronavirus pandemic forced businesses to shut nationwide. The benchmark Dow Jones Industrial Average gained 469.94 points (2.24 ...

1 day ago

In coronavirus fight, oft-criticized Facebook data aids US cities, states

Claudia Tan - Infectious disease researchers are using Facebook Inc mobile location data to provide daily updates to U.S. cities and states evaluating the effectiveness of social distancing orders aimed at slowing the novel coronavirus.

1 day ago

FCC proposes to fine TracFone Wireless US$6 million for subsidy violations

Claudia Tan - The Federal Communications Commission on Thursday proposed to fine TracFone Wireless US$6 million for allegedly violating its rules governing the subsidy program for telecommunications services for low income users.

1 day ago

Oil jump lifts Wall St as jobless claims data surges

Wall Street bounced on Thursday as hopes of a truce between Saudi Arabia and Russia to cut oil output drove a record 22per cent surge in prices, outweighing the shock of over 6 million Americans filing for jobless claims due to virus-led lockdowns.

1 day ago

US SEC delays ruling on controversial NYSE high-speed data plan

Claudia Tan - The U.S. Securities and Exchange Commission said it needs more time to decide whether to allow a plan by the New York Stock Exchange to offer a new high-speed wireless connection to the exchange that some brokers have blasted as anti-competitive.

1 day ago

Bed Bath sues 1-800-Flowers for trying to renege on deal over COVID-19

Claudia Tan - Bed Bath & Beyond Inc has asked a judge to hold 1-800-Flowers.Com Inc to a US$252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic.

1 day ago

Instacart to distribute coronavirus safety kits after workers' strike

Claudia Tan - U.S. online grocery delivery company Instacart said on Thursday it will distribute free health and safety kits to full-service shoppers, days after its workers went on strike to call attention to safety and wage concerns over the coronavirus crisis.

1 day ago

General Motors, Honda to jointly develop two new electric vehicles

General Motors and Honda Motor Co Ltd said on Thursday the companies would jointly develop two new electric vehicles for Honda.

1 day ago

Tesla misses estimates for quarterly deliveries

Claudia Tan - Tesla Inc on Thursday fell short of Wall Street estimates for first-quarter vehicle deliveries, due to the production disruptions and shutdowns caused worldwide by the coronavirus pandemic.

1 day ago

Exclusive: Trump does not plan to ask US oil producers for coordinated cuts - official

The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday.

1 day ago

US unemployment to shoot up while GDP declines in second quarter: congressional estimators

Claudia Tan - The U.S. unemployment rate will shoot past 10per cent in the second quarter and the growth rate of gross domestic product will decline by more than 7per cent as the coronavirus crisis grips the U.S. economy, according to projections released by the Congressional Budget Office (CBO) on Thursday.

1 day ago

Wall Street gains on oil surge, but off early highs

Claudia Tan - Wall Street bounced on Thursday as hopes of a truce between Saudi Arabia and Russia to cut oil output drove a record 22per cent surge in prices, outweighing the shock of over 6 million Americans filing for jobless claims due to virus-led lockdowns.

1 day ago

US Air Force recommends paying Boeing up to US$924 million: sources

Claudia Tan - The U.S. Air Force has recommended the release of up to US$924 million in payments to Boeing that were held back due to flaws in KC-46 air refueling tanker, according to memo seen by Reuters and a source familiar with the situation.

1 day ago

Coronavirus punishes Warren Buffett's equity holdings

The coronavirus pandemic may have erased around US$64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway Inc , setting up the conglomerate for one of the largest quarterly losses ever by an American company.

1 day ago

US financial industry asking SEC to delay broker disclosure rule, citing coronavirus: sources

Claudia Tan - The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said.

1 day ago

Oil crash poses severe test for OPEC+ after Moscow, Riyadh miscalculate

Claudia Tan - U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike production in a battle for market share.

1 day ago

GE to furlough 50per cent of US engine assembly, component manufacturing ops staff

Claudia Tan - General Electric Co said of Thursday it would temporarily lay off about half of its workers in U.S. engine assembly and component manufacturing operations.

1 day ago

World Bank approves initial US$1.9b in emergency funds for pandemic response

Claudia Tan - WASHINGTON: The World Bank on Thursday (Apr 2) said its board of executive directors approved an initial US$1.9 billion (£1.53 billion) in emergency funds for coronavirus response operations in 25 countries, and said it was moving quickly on projects in 40 others. In addition, the World Bank said . ...

1 day ago

Yield-thirsty investors eye stock dividends as virus fears shrink bond payouts

Claudia Tan - Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields.

1 day ago

Facebook launches fact-checking service on WhatsApp in Italy

Claudia Tan - MILAN: Facebook Inc. launched a service in Italy to check the accuracy of information on coronavirus circulating on its messaging platform WhatsApp, the US tech firm said on Thursday (Apr 2). In a fresh attempt to fight manipulated content, Facebook said it was working with local fact checking ...

1 day ago

US small business bailout starts Friday. Is the government ready?

Claudia Tan - Chris Hurn, founder of Fountainhead Commercial Capital, has received 7,400 small business loan requests in the past two weeks, more than his business has handled in its five years of existence.