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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Airbus' Leahy reveals negotiating tricks after 'last air show'

Today - PARIS - Airbus sales chief John Leahy, one of the dominant figures of modern aviation, hinted on Thursday he would retire this autumn, as he wrapped up what he said would be his last air show by revealing a few precious negotiating tricks. ...

Parent of Burger King, Tim Hortons to curb antibiotics in chicken

Today - LOS ANGELES - The parent of Burger King and Tim Hortons on Thursday vowed to cut the use of antibiotics in its chicken supply, joining other major fast-food chain operators in the battle against the rise of dangerous antibiotic-resistant bacteria known as...

Biggest U.S. banks clear first hurdle in Fed's annual stress tests

Today - WASHINGTON/NEW YORK - The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. ...

Biggest US banks clear first hurdle in Fed's annual stress tests

WASHINGTON/NEW YORK: The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household ...

US banking group sees three more Fed rate hikes in 2018

NEW YORK: The trend of solid US economic growth should continue into 2018, setting the stage for potentially three more Federal Reserve rate increases next year, the American Bankers Association said on Thursday (Jun 22). The banking group's economic forecast committee predicts a "slight ...

IPO value slumps in first half of year, set to pick up later

Today - SINGAPORE - Initial public offerings (IPO) on the Singapore Exchange (SGX) slumped by more than three quarters in the first half of the year from the corresponding period last year as companies stayed away despite the stock market rally. However, a pipeline...

Oil bounces off 10-month lows; crude glut still weighs

Oil prices rose on Thursday for the first time in three days after U.S. crude and gasoline stockpiles fell, but investors are looking for more signs that output cuts by OPEC and some other producers are ending a three-year glut.

U.S. regulators, lawmakers support Volcker rule revamp at hearing

Today - WASHINGTON - U.S. financial regulators and lawmakers who appeared at a congressional hearing on Thursday generally agreed that the Volcker rule, which restricts banks' ability to make bets with their own money, needs to be reconsidered. The...

Exclusive: Amazon to charge $2.8 million for NFL ad packages - sources

Today - NEW YORK - Amazon.com Inc is looking to charge advertisers $2.8 million for packages that include 30-second spots during the Thursday night National Football League games it will stream live to its Prime customers this coming season, two people familiar with...

US regulators, lawmakers support Volcker rule revamp at hearing

U.S. financial regulators and lawmakers who appeared at a congressional hearing on Thursday generally agreed that the Volcker rule, which restricts banks' ability to make bets with their own money, needs to be reconsidered.

CEO Zuckerberg tweaks Facebook mission to focus on groups

Facebook Inc Chief Executive Mark Zuckerberg revised the world's largest online social network's mission statement on Thursday to emphasize support for hobby clubs, civil society organizations and other community groups.

Beyond air show, newcomers challenge Airbus-Boeing duopoly

PARIS: This year's Paris Air Show was dominated by the annual order battle between Airbus and Boeing , but industry executives said the duopoly will be forced to share the stage at future shows as newcomers from Russia, China and Japan muscle into the passenger plane market. Japan's Mitsubishi ...

Strike at Volkswagen's Slovak unit to continue after talks fail - union

Today - BRATISLAVA - A strike at Volkswagen's Slovak unit will continue into a fourth day after talks on wage deal failed, union chief Zoroslav Smolinsky said on Thursday. He did not specify whether or when the talks with the...

Strike at Volkswagen's Slovak unit to continue after talks fail: union

A strike at Volkswagen's Slovak unit will continue into a fourth day after talks on wage deal failed, union chief Zoroslav Smolinsky said on Thursday.

Home Capital's shares surge as Buffett rides to rescue

Warren Buffett's Berkshire Hathaway Inc is providing a CUS$2 billion loan to Home Capital Group Inc and taking a 38 percent stake in the lender, with the U.S. billionaire pitching himself against short-sellers who have targeted the stock as Canada's housing market has turned riskier.

Exclusive: Uber hires law firm to probe how it handled India rape case - source

Today - SAN FRANCISCO/NEW DELHI - Uber Technologies Inc [UBER.UL] has hired a law firm to investigate how it obtained the medical records of an Indian woman who was raped by an Uber driver in 2014. The review will focus in part on accusations from some current and...

Mylan shareholders vote against executive pay, re-elect board

AMSTERDAM: Mylan NV shareholders voted against the generic drugmaker's executive pay policy but re-elected the board at its annual meeting on Thursday despite a shareholder campaign in the wake of a scandal over high prices for its EpiPen emergency allergy treatment. The company did not disclose ...

Oil bounces up off 10-month lows; crude glut still weighs

Oil prices rose on Thursday for the first time in three days after U.S. crude and gasoline stockpiles fell, but investors are looking for more signs that output cuts by OPEC and some other producers are ending a three-year glut.

Short seller Cohodes keeps Home Capital bet despite Buffett deal

Today - NEW YORK - Short seller Marc Cohodes, who has bet against Home Capital Group Inc shares for more than two years, said on Thursday he is keeping his short position on the Canadian lender despite a capital infusion from Warren Buffett's Berkshire Hathaway Inc. ...

BoE rollercoaster leaves pound range-bound, investors split

[LONDON] Sterling traded slightly below US$1.27 on Thursday as investors were divided over the prospect of a rise in interest rates from the Bank of England after two of its top officials gave opposing signals on the matter this week.

Tesla moves a step closer to building electric cars in China

Tesla Inc is exploring the possibility of establishing a Chinese manufacturing plant with the Shanghai municipal government, the U.S. electric carmaker said on Thursday in a statement.

Gains in healthcare stocks lift Wall Street

U.S. stocks opened little changed on Thursday as oil prices remained near multi-month lows, undermining efforts by major producers to stabilize the market.

Bubbling Chinese market centre-stage at world wine fest

BORDEAUX: With a middle-class increasingly thirsty for reds, whites and Italian bubbly, China is the hot ticket for wine traders looking for opportunities at this year's Vinexpo industry extravaganza. The world's most populous nation has for years been seen as an El Dorado for foreign wine-makers .. ...

U.S. trade representative says he is 'troubled' by Ford's China move

Today - WASHINGTON - U.S. Trade Representative Robert Lighthizer said on Thursday he would support taking action against U.S. automaker Ford's decision to move some production to China if the shift was because of "non-economic reasons." ...

US: Wall St opens little changed as oil edges up

[BENGALURU] US stocks opened little changed on Thursday as oil prices remained near multi-month lows, undermining efforts by major producers to stabilize the market.

Tyre giant Michelin to cut nearly 2,000 jobs worldwide

PARIS: Tyre giant Michelin is to cut nearly 2,000 jobs worldwide by 2021 as part of a reorganisation, the company announced on Thursday (Jun 22), saying there would be no forced redundancies. The company plans to shed 1,500 staff in France, mostly by not replacing workers when they retire, and a ...

Foxconn plans US display making plant for over US$10 billion, scouting for location

Foxconn , the world's largest contract electronics maker, is looking at six U.S. states including Wisconsin as locations for a display-making plant, a top executive said on Thursday.

Qatar Airways interested in buying 10% stake in American Airlines

American Airlines Group Inc said on Thursday Qatar Airways had expressed interest in buying a 10 percent stake in the U.S. airline.

US jobless claims rise, labour market still tight

WASHINGTON: The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labour market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended Jun 17, the Labour ...

U.S. banks look to rebuild European football from the ground up

Today - LONDON (Reuters/IFR) - U.S. banks that have carved out a lucrative niche financing the construction and renovation of sports stadia are making a push into Europe, signing a major deal with English Premier League soccer club Tottenham Hotspur last month. ...

US banks look to rebuild European football from the ground up

U.S. banks that have carved out a lucrative niche financing the construction and renovation of sports stadia are making a push into Europe, signing a major deal with English Premier League soccer club Tottenham Hotspur last month.

Qatar Airways interested in buying 10 percent stake in American Airlines

American Airlines Group Inc said on Thursday Qatar Airways had expressed interest in buying a 10 percent stake in the U.S. airline.

Tesla says exploring China car plant with Shanghai government

Today - Tesla Inc is exploring the possibility of establishing a Chinese manufacturing plant with the Shanghai municipal government, the U.S. electric carmaker said on Thursday in a statement. Tesla has said it wants to build electric...

Senate GOP releases health bill draft ahead of possible vote

[WASHINGTON] Senate Republican leaders released their much-awaited health care bill Thursday morning after months of closed-door meetings, but it's not yet clear if they will have the votes to pass it as soon as next week.

Wall Street opens little changed as oil edges up

U.S. stocks opened little changed on Thursday as oil prices remained near multi-month lows, undermining efforts by major producers to stabilize the market.

Second Chance Properties sells Haig Road retail unit for $10 mil

PC Lee - SINGAPORE (June 22): Second Chance Properties’ subsidiary, Super Chance Properties is selling its retail unit at 12 Haig Road, #01-323 for a total consideration of $10 million. The developer says downward pressure on rental income in the Paya Lebar area could have a negative impact on its unit. In ...

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