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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18 hours ago

Cisco's security business revenue growth misses estimates, shares drop

Today - Cisco Systems Inc's revenue from its closely-watched security business rose less than analysts had estimated in the fourth quarter, sending the company's shares down about 2.5 percent in after-hours trading on Wednesday. Revenue...

19 hours ago

US stocks rise on dovish Fed minutes

Lee Meixian - NEW YORK: US stocks finished higher on Wednesday (Aug 16) after Federal Reserve policymakers hinted at a slower pace to future interest rate hikes and retailers gained following a solid earnings report by Target. The gains came as President Donald Trump disbanded a pair of business advisory boards . ...

19 hours ago

Cisco's revenue falls for seventh straight quarter

Lee Meixian - Cisco Systems Inc's revenue fell for the seventh straight quarter as declines in its switches and routers businesses outpaced gains at its newer software-focused divisions, such as security.

19 hours ago

US Fed Reserve can 'be patient' in raising rates: Minutes

David Hughes - WASHINGTON: US central bankers remain divided over inflation risks, and some argue they can afford to "be patient" before raising rates again, according to the minutes of the last policy meeting released on Wednesday (Aug 16). The Federal Reserve had been expected to raise the benchmark lending ...

19 hours ago

New NTUC Income app lets motoristsfile accident reports

Today - SINGAPORE - NTUC Income motor policyholders can now file accident reports through a new mobile application - saving them the hassle of going to the office to lodge one. Launching the Accident Reporting by Income app yesterday, the company said it is the...

19 hours ago

200 SMEs take up IMDA’s digital solutions

Today - SINGAPORE- Close to 200 SMEs have adopted digital technology using 30 out of the 56 pre-approved solutions by the Infocomm Media Development Authority (IMDA). The IMDA launched its Go Digital programme that provides small and medium-sized enterprises (SME)...

19 hours ago

7 partners in banking and telecom sectors sign memo of intent

Today - The Infocomm Media Development Authority (IMDA) announced Memoranda of Intents with seven partners in the banking and telecom sectors yesterday to provide small and medium-sized enterprises (SME) easier access to digitalisation technologies to expand their...

20 hours ago

Fed's Mester says US rate hikes should continue despite weak inflation

Lee Meixian - Cleveland Federal Reserve Bank President Loretta Mester said the recent weakness in U.S. inflation has not convinced her the Fed should delay plans for further interest rate hikes in an economy she feels remains on track for steady growth and rising wages.

20 hours ago

Fed policymakers grow more worried about weak inflation: minutes

Today - WASHINGTON - Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for a halt to further interest rate hikes until it was clear the trend was transitory, according to the minutes of the central bank's last policy...

20 hours ago

Factbox: Fed staff forecasts from FOMC minutes

Today - The following are the Federal Reserve's staff forecasts as contained in the minutes of recent Federal Open Market Committee meetings: For a full text, see http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm JULY 25-26 FOMC: Minutes released on...

20 hours ago

GM's Maven may compete with Lyft and Uber in ride services

Today - General Motors Co's Maven car sharing and rental unit could wind up competing with two of its biggest customers, Uber Technologies and Lyft Inc, with an ambitious expansion plan that could take it eventually into ride and delivery services. ...

20 hours ago

Carmakers win brief reprieve from lawsuits over faulty Takata air bags

Lee Meixian - A U.S. judge overseeing the bankruptcy of Takata Corp's U.S. business on Wednesday halted lawsuits for 90 days against automakers brought by victims of its faulty air bag inflators.

21 hours ago

Ackman says owned stake in Hilton, a previously unnamed bet

Lee Meixian - Investor William Ackman said on Wednesday his hedge fund had bought and sold a stake in Hilton Worldwide Holdings, identifying the portfolio company that recently earned him a double digit return.

21 hours ago

Egypt's GASC says buys 355,000 tonnes of Russian, Ukraine wheat

[CAIRO] Egypt's state grain buyer GASC said on Wednesday it has bought 355,000 tonnes of wheat in an international tender.

21 hours ago

Apple said to plan US$1 billion investment in TV shows and films

[SAN FRANCISCO] Apple Inc. plans to spend about US$1 billion on original programming in the next 12 months, intensifying efforts to compete with Amazon.com Inc and Netflix Inc in video streaming, according to people familiar with the plan.

21 hours ago

Trump disbands business councils after CEOs exit in protest

[WASHINGTON/NEW YORK] US President Donald Trump disbanded two high-profile business advisory councils on Wednesday after corporate CEOs quit in protest at his remarks blaming violence in Charlottesville, Virginia, not only on white nationalists but also on the protesters who opposed them.

21 hours ago

Ireland says EU demand that Apple pay it 13 billion euros in back taxes unjustified

[BERLIN] Aug 16 (Reuters) - Ireland's finance minister said the European Commission's demand that Dublin collect up to 13 billion euros (S$20.8 billion) in back taxes from Apple was unjustified, in an interview with Germany's Frankfurter Allgemeine (FAZ) newspaper.

21 hours ago

Oil producers signal offshore return in latest Gulf of Mexico auction

[HOUSTON] Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to US$121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum.

22 hours ago

Ukraine president orders probe into "groundless" alleged links to North Korea missiles

[KIEV] Ukrainian President Poroshenko on Wednesday ordered a "thorough and comprehensive investigation" into the findings of a New York Times article that North Korea may have purchased rocket engines from Ukrainian factory Yuzhmas.

22 hours ago

Nigeria state oil firm says its production costs cut to US$23 a barrel

[ABUJA/LONDON] Nigeria's production cost per barrel of crude oil is down to US$23, the state oil company said on Wednesday, after the country last month said the cost was US$29 a barrel, one of the highest levels in the world.

22 hours ago

French cognac sales reach a record in 2016-2017, led by the United States

[BORDEAUX] French cognac sales grew for the third straight year in 2016-2017 to reach a new record of 3 billion euros (S$4.8 billion), led by the United States, according to the country's cognac lobby.

22 hours ago

Russian watchdog says Schlumberger-Eurasia Drilling deal "has big problems"

[MOSCOW] The acquisition of a 51 per cent stake in Russia's Eurasia Drilling Co (EDC) by US oilfield services giant Schlumberger "has big problems" in the current political situation, the head of Russia's competition watchdog said on Wednesday.

22 hours ago

Protesters block copper transport to Peru's Las Bambas mine: ombudsman

[LIMA] People living near MMG Ltd's Las Bambas copper mine in Peru have blocked a road for the past week to keep the company from transporting copper concentrates to port, a representative for the ombudsman's office said on Wednesday.

22 hours ago

Samsung, Foxconn to back cable-free phone tech

Today - A startup backed by Tony Fadell, one of the fathers of the Apple iPod, plans to announce Wednesday it is working with Samsung Electronics Co Ltd , Foxconn parent Hon Hai Precision Industry Co Ltd and others on a new way for...

22 hours ago

US VP Pence says all options are on table in North Korea

[SANTIAGO] "All options" are on the table with regards to North Korea and Latin American nations should break ties with the Asian state, US Vice President Mike Pence told reporters in Santiago on Wednesday.

22 hours ago

Wall Street pares gains after Trump disbands two advisory councils

Lee Meixian - U.S. stocks opened higher on Wednesday, with investors awaiting the Federal Reserve's latest policy meeting minutes for clues on future interest rake hikes this year.

22 hours ago

Trump CEO strategy council is said to disband after exodus

[NEW YORK] President Donald Trump's council of senior business leaders who advise on strategy and policy is disbanding, according to a person familiar with the matter.

22 hours ago

Black banker sues Goldman Sachs for racial discrimination

Today - A black banker in Goldman Sachs Group Inc's personal wealth management unit filed a lawsuit on Wednesday accusing the firm of steering top clients to her white colleagues and denying her promotions because of her race. Rebecca...

22 hours ago

Chinese automakers kick tires at FCA, but any deal faces obstacles

Today - HONG KONG - Geely Automobile Holdings Ltd said on Wednesday it was not planning a bid for Fiat Chrysler Automobiles NV , and while other potential Chinese suitors remain any tie-up could face significant U.S. regulatory...

23 hours ago

US adopts combative tone as talks begin on revamped Nafta

[WASHINGTON] President Donald Trump isn't looking for a "mere tweaking" of the North American Free Trade Agreement, and will be seeking a major overhaul to a deal he believes has failed Americans, Mr Trump's top trade official said as talks began with Mexico and Canada to revamp ...

23 hours ago

Ireland rejects EU's demand that it collect 13 billion euros from Apple

Today - BERLIN - Ireland's finance minister rejected the European Commission's demand that it retroactively collect 13 billion euros in taxes from Apple , saying this was not Dublin's job in an interview with Germany's Frankfurter Allgemeine (FAZ)...

23 hours ago

Labour data props up struggling sterling

[LONDON] Britain's pound recovered from its lowest levels against the euro in 10 months on Wednesday after data showed wages rising faster than expected in the three months to June, and the unemployment rate falling further.

23 hours ago

IMDA partners telcos and banks to help SMEs expand digital capabilities

Lee Meixian - SINGAPORE: The Info-communications Media Development Authority (IMDA) has signed seven memoranda of intent (MOIs) with telcos and financial institutions to help small- and medium-size enterprises (SMEs) access technologies to go digital. This was announced by Communications and Information ...

23 hours ago

Pimco warns that misstep on Libor alternative could be costly

[NEW YORK] Pacific Investment Management Co says there will be consequences from being too complacent during the phasing out of Libor, the global borrowing benchmark that underpins more than US$350 trillion of financial products.

24 hours ago

Oil edges up on bets on falling US crude stocks

[NEW YORK] Oil prices were little changed Wednesday after US crude stockpiles plunged their most in nearly a year, paring gains seen early in the session.

24 hours ago

U.S. regulators charge bank employee, six others with insider trading

Today - NEW YORK - U.S. securities regulators on Wednesday accused an employee of a large multinational bank and six other people of taking part in an insider trading scheme that reaped more than $5 million in profits. Daniel Rivas, 32, learned in...