Business Headlines & Singapore Stock Market News | SGinvestors.io

Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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AT&T unclear what final merger conditions Justice Department will seek

WASHINGTON: AT&T Inc was confident it would win regulatory approval for its US$85.4 billion acquisition of Time Warner Inc before year's end as the Justice Department continues its review, but was still awaiting details about any final requirements for the deal, a senior executive said. Bob Quinn .. ...

Brent crude oil bounces back above US$45, but excess 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.

Home Capital to get CUS$2 billion loan from Berkshire Hathaway

Canadian lender Home Capital Group Inc said Berkshire Hathaway Inc will provide a new CUS$2 billion line of credit to its unit Home Trust Co and indirectly buy CUS$400 million (US$300.2 million) of its common shares in a private placement.

Mylan shareholders re-elect board, vote against executive pay

Today - AMSTERDAM - Mylan NV shareholders re-elected the generic drugmaker's board at its annual meeting on Thursday, despite a shareholder campaign to vote down most of the directors in the wake of a scandal related to its high prices for emergency allergy treatment...

After London fire, 600 tower blocks thought to have similar cladding

[LONDON] An estimated 600 high-rise buildings in England contain cladding similar to that used on a London tower block which caught fire, killing at least 79 people, officials said on Thursday.

Home Capital had interest from over 70 parties in investment

Today - TORONTO - Home Capital Group Inc had interest from over 70 parties prior to agreeing to a new investment from billionaire Warren Buffett's Berkshire Hathaway Inc , Home Capital director Alan Hibben said on Thursday. ...

Wall St. flat at open as oil prices edge up

Today - U.S. stocks opened little changed on Thursday as oil prices remained under pressure even as they edged up from multi-month lows. The Dow Jones Industrial Average rose 5.05 points, or 0.02 percent, to 21,415.08. The S&P 500...

US jobless claims rise, labor market still tight

The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market.

Brent crude oil edges back above US$45, but excess 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.

American Airlines says Qatar Airways interested in buying 10 percent stake

Today - American Airlines Group Inc said on Thursday that Qatar Airways, the Gulf country's state-owned airline, had expressed interest in buying a 10 percent stake worth at least $808 million in the No.1 U.S. airline. Shares of American...

Citi poaches two senior UBS Asia bankers for China, EMEA roles

Citigroup Inc has appointed UBS Group AG senior China banker Jiang Guorong as its chairman and head of China corporate and investment banking, according to an internal memo seen by Reuters on Thursday.

U.S. jobless claims rise, labor market still tight

Today - WASHINGTON, - The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000...

Thyssenkrupp plans more cost cuts in industrial solutions

Today - DUESSELDORF, Germany - Germany's Thyssenkrupp said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of...

Serial System plans spinoff of Serial Microelectronics (HK) on Hong Kong bourse

PC Lee - SINGAPORE (June 22): Serial System is planning to spin off its subsidiary Serial Microelectronics (HK) (SMHK) so that it can be listed separately on the Mainboard of the Stock Exchange of Hong Kong. As part of the spinoff, the company also intends to transfer its listing from the Mainboard of the Si ...

Sales chief says Boeing won 571 orders and commitments

Today - PARIS - Boeing said it had won 571 orders and commitments for jetliners at the Paris Airshow, upstaging European rival Airbus after the launch of a new model of its 737 MAX passenger jet. Sales chief Ihssane Mounir...

Exclusive: China Unicom counts Alibaba, Tencent among investors in drive to raise US$10 billion - sources

Chinese tech giants Alibaba Group Holdings and Tencent Holdings will be among new investors pouring a total of around US$10 billion into mobile carrier China Unicom, sources said, part of efforts by Beijing to rejuvenate state behemoths with private cash.

Exclusive: China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion - sources

Today - HONG KONG - Chinese tech giants Alibaba Group Holdings and Tencent Holdings will be among new investors pouring a total of around $10 billion into mobile carrier China Unicom, sources said, part of efforts by Beijing to rejuvenate state behemoths with private...

Citi hires UBS banker as China head of corporate, investment banking: memo

Today - HONG KONG - Citigroup Inc has appointed UBS Group AG senior China banker Jiang Guorong as its chairman and head of China corporate and investment banking, according to an internal memo seen by Reuters on Thursday. ...

Foxconn dangles US$10b tech investment to create US jobs

[BEIJING] Terry Gou is intent on building Foxconn Technology Group's international footprint.

Malaysia's 1MDB scandal, upcoming polls pose challenge to its sovereign rating: S&P

[KUALA LUMPUR] The corruption scandal at 1Malaysia Development Berhad (1MDB) and upcoming elections pose potential challenges for Malaysia's sovereign rating in the short term, Standard and Poor's said on Thursday.

New payment solution helps SMEs resolve capital crunch

Today - SINGAPORE - Small and medium enterprises (SMEs) will be able to receive payments faster through a virtual credit card solution which facilitates cash flow to businesses. Developed in partnership between credit card company Visa and FinTech developer Validus,...

Tesla reaches agreement with Shanghai to explore production: Bloomberg

Today - U.S. electric-car maker Tesla Inc has reached a preliminary agreement with Shanghai to explore production in the Chinese city, Bloomberg reported on Thursday, citing people familiar with the matter. (https://bloom.bg/2twAd6z) Tesla's revenue...

Luxembourg fines private bank Rothschild 9 million euros

Today - ZURICH - Luxembourg watchdogs have fined the local arm of Swiss private bank Edmond de Rothschild nearly 9 million euros ($10.1 million) for failing to take proper safeguards against money-laundering, the authorities and the bank said on Thursday. ...

Australian banks furious after hit by new state tax in wake of federal levy

[SYDNEY] An Australian state imposed a surprise tax on the country's five biggest banks, a move that comes on top of a new $4.6 billion federal levy - prompting predictions that other states could follow suit and howls of outrage from the sector.

Indian IT sector lobby group sees export growth at 7-8 percent for 2017-18

Today - A leading lobby group for India's IT industry on Thursday forecast the sector's export revenues to grow at 7-8 percent for the year to March, around the growth levels seen last year, as the industry faces continued headwinds from the U.S. market. ...

Ministerial committees often set up to overcome challenges in governance: DPM Tharman

Soon Weilun - MINISTERIAL committees in Singapore - such as the one set up to mull over the future of Lee Kuan Yew's former residence - are often convened to overcome challenges in governance, and contribute to Singapore's success, said Deputy Prime Minister Tharman Shanmugaratnam.

Airbus concedes defeat to Boeing in Paris order race

PARIS: Airbus conceded defeat to rival Boeing in the race for new business at the Paris Airshow on Thursday, as a late haul of almost 100 aircraft failed to close a gap opened up by the launch of the American firm's new 737 model. The European planemaker said it won 326 net new orders and ...

China regulator orders checks on loans to acquisitive firms: sources

China's banking regulator has ordered a group of commercial banks to assess their exposure to offshore purchases by a handful of acquisitive Chinese corporate groups, two people familiar with the matter said on Thursday.

Janus Henderson Investors appoints BNP Paribas securities unit to service Singapore-based funds

PC Lee - SINGAPORE (June 22): Janus Henderson Investors, the dual-listed global asset manager with US$330.8 billion ($459 billion) in assets under management, has appointed BNP Paribas Securities Services to service its Singapore-domiciled funds. Janus Henderson Investors has migrated the custody, fund admin ...

Ruili Airlines signs MoU for 20 of Boeing's 737 MAX planes

Today - PARIS - Boeing said on Thursday that Chinese low-cost carrier Ruili Airlines had signed a memorandum of understanding (MoU) for 20 of Boeing's 737 MAX airplanes, in a deal worth around $2.2 billion at current list prices....

China regulator orders checks on loans to acquisitive firms - sources

Today - BEIJING - China's banking regulator has ordered a group of commercial banks to assess their exposure to offshore purchases by a handful of acquisitive Chinese corporate groups, two people familiar with the matter said on Thursday. The companies...

Secura unit bags $3.2 mil security services contract

Jude Chan - SINGAPORE (June 22): Secura Group announced Thursday that wholly-owned subsidiary Soverus has secured a $3.2 million contract from a “leading global semiconductor company”. Secura CEO Paul Lim says he is “heartened” that the group has won its first contract in the semiconductor industry. The ...

Britain's Prince Philip, 96, leaves hospital after infection

[LONDON] Prince Philip, the 96-year-old husband of Queen Elizabeth II, left hospital on Thursday after two nights inside for treatment of an infection, Buckingham Palace said.

Asia energy firms under pressure on oil drop

HONG KONG: Energy firms struggled again in Asian trade on Thursday (Jun 22) after fresh plunge in oil prices as supply glut fears returned, while regional equities saw a mixed response to the previous day's sell-off. Both main crude contracts dived more than two per cent on Wednesday despite a ...

Malaysia: Shares up at the end of trading

MALAYSIA share prices ended slightly higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.86 points to 1,777.43.

Bitcoin startup Blockchain takes US$40m in new funding

[LONDON] Blockchain, the Luxembourg-based bitcoin currency service provider, has raised US$40 million of fresh funding, led by Lakestar, representing one of the largest investment rounds in the financial technology sector since Britain's vote to leave the European Union.

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