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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2 days ago

Petco prices IPO above target range to raise US$816 million

Annabeth Leow - Pet retailer Petco Health and Wellness Company Inc said on Wednesday it sold shares in its initial public offering (IPO) at US$18 apiece, above its target range, to raise about US$816.5 million.

2 days ago

Twitter CEO says banning Trump was right decision but sets dangerous precedent

Annabeth Leow - Twitter Inc Chief Executive Jack Dorsey said on Wednesday that banning President Donald Trump from its social media platform after last week's violence at the U.S. Capitol was the "right decision," but said it sets a dangerous precedent.

2 days ago

Singapore shares edge up at Thursday's open; STI up 0.4%

Rachel Mui - SINGAPORE shares began trading on Thursday morning in slightly positive territory, with the key Straits Times Index (STI) advancing 11.46 points or 0.4 per cent to 2,988.97 as at 9.01am.

2 days ago

Connecticut probes Amazon's e-book business for anti-competitive practices

Annabeth Leow - Connecticut is investigating whether Amazon.com Inc is engaged in anti-competitive behavior in the e-book business through its distribution agreements with certain publishers, the state's Attorney General William Tong said on Wednesday.

2 days ago

Little evidence coffee companies' sustainability efforts have impact: Report

Annabeth Leow - There is little evidence efforts by the world's top coffee roasters and traders to prevent human rights and environmental abuses are having any impact, with most farmers operating at a loss and unable to produce sustainably, a major coffee report said on Thursday.

2 days ago

Trump signs amended China investment ban, requiring complete divestment by November

Annabeth Leow - President Donald Trump has signed an amended version of an executive order that bans U.S. investments in alleged Chinese military companies, the White House said on Wednesday.

2 days ago

Singapore Airlines raises US$500 million in US dollar debt debut

SINGAPORE: Singapore Airlines (SIA) has raised US$500 million (S$660 million) in its first US dollar bond issue, which the company will use to buy new aircraft as the global aviation industry prepares for a post-pandemic travel rebound. The transaction was finalised early on Thursday (Jan 14) and ...

2 days ago

Trump signs amended China investment ban, requiring complete divestment by Nov. 2021

Annabeth Leow - President Donald Trump has signed an amended version of an executive order that bans U.S. investments in alleged Chinese military companies, the White House said on Wednesday.

2 days ago

Stocks to watch: SPH Reit, HC Surgical, Aspen, GL, GKE Corp, Keppel DC Reit

Michelle Zhu - THE following companies saw new developments that may affect trading of their securities on Thursday.

2 days ago

Ascott Residence Trust obtains S$50m green loan from DBS to finance lyf one-north

Vivienne Tay - ASCOTT Residence Trust (ART) has obtained a five-year S$50 million green loan from DBS to finance its maiden development project: lyf one-north Singapore.

2 days ago

Asia shares make cautious gains after Wall Street rises as US yields fall

Annabeth Leow - Asian equities made early trading gains on Thursday after a mixed session Wall Street buoyed by expectations of a U.S. stimulus package even as political events in Washington culminated in the impeachment of President Donald Trump.

2 days ago

Resilient against pandemic, SE Asia’s startups raise $8.6b in turbulent 2020

Andi Haswidi - Capital raised fell 2% from 2019 due to lower valuations and fewer mega deals. The post Resilient against pandemic, SE Asia’s startups raise $8.6b in turbulent 2020 appeared first on DealStreetAsia.

2 days ago

South Korea’s Hanwha leads $300m round in Grab’s financial services arm

Reuters - The South Korean investment firm is the latest to express interest in joining the $500m targeted round. The post South Korea’s Hanwha leads $300m round in Grab’s financial services arm appeared first on DealStreetAsia.

2 days ago

Keppel DC Reit's MTN programme limit raised to S$2b from S$500m

Rachel Mui - THE limit of Keppel DC Reit's multicurrency medium term note (MTN) programme has been raised to S$2 billion from S$500 million, its manager said in a bourse filing on Thursday.

2 days ago

Singapore’s GIC portfolio company Affirm soars on Nasdaq market debut

Michelle Teo - GIC's 8.6% post-offering stake is the largest outside of directors and management. The post Singapore’s GIC portfolio company Affirm soars on Nasdaq market debut appeared first on DealStreetAsia.

2 days ago

Cheasapeake Energy bankruptcy plan approved by US judge

Rachel Mui - U.S. oil and gas producer Chesapeake Energy's Chapter 11 bankruptcy plan was approved by a U.S. judge on Wednesday, giving lenders control of the company and ending a contentious trial.

2 days ago

Keppel DC REIT increases limit of multicurrency medium term note programme to $2 bil

Felicia Tan - Keppel DC REIT MTN, a wholly-owned subsidiary of Keppel DC REIT, and issuer of the multicurrency medium term note programme, has increased the limit of the programme from $500 million to $2 billion. Perpetual securities have also been added as a security listed under the programme. The trustee of Ke ...

2 days ago

Huawei CFO Meng Wanzhou received death threats in mail, Canada court hears

Huawei Chief Financial Officer Meng Wanzhou received multiple death threats, including bullets in the mail, while under house arrest in Vancouver, a Canadian court heard on Wednesday.

2 days ago

Ascott Residence Trust obtains $50 mil green loan from DBS, becomes first hospitality trust in Singapore to do so

Felicia Tan - Ascott Residence Trust (ART) has obtained a $50 million five-year green loan from DBS Bank, making ART the first hospitality trust in Singapore to secure a green loan. Proceeds from the green loan will be used to fund ART’s maiden development project and co-living property, lyf one-north Singapore ...

2 days ago

Emirates boss says Boeing must recognise top-down role in MAX flaws

Rachel Mui - The head of one of Boeing Co's biggest customers, Dubai's Emirates, wants the planemaker to demonstrate fundamental changes after producing a flawed 737 MAX jet and has urged it to recognize "culpability and accountability" from the very top.

2 days ago

Renault set for makeover as a leaner carmaker under De Meo

French carmaker Renault's new Chief Executive Luca de Meo is set for his first major test on Thursday with a strategy reset aimed at lifting margins at the loss-making firm, and which is likely to focus on fewer, more profitable models.

2 days ago

US asks Tesla to recall 158,000 vehicles for touchscreen failures

Rachel Mui - The National Highway Traffic Safety Administration (NHTSA) on Wednesday (Jan 13) asked Tesla Inc to recall 158,000 Model S and Model X vehicles over media control unit (MCU) failures that could pose safety risks by leading to touchscreen displays not working.

2 days ago

Novo Tellus inks pact to invest in Catalist-listed Grand Venture Technology

Deviana Chuo - GVT plans to use a majority of the proceeds to expand its business through M&As, JVs and partnerships. The post Novo Tellus inks pact to invest in Catalist-listed Grand Venture Technology appeared first on DealStreetAsia.

2 days ago

Facebook tracking a rise in violent rhetoric tied to US presidential inauguration

Rachel Mui - Facebook has seen an increase in signals indicating potential future acts of violence associated with efforts to contest the result of the US presidential election since the Capitol siege last week, a company spokeswoman told Reuters.

2 days ago

Emirates boss says Boeing must recognize top-down role in MAX flaws

Rachel Mui - The head of one of Boeing Co's biggest customers, Dubai's Emirates, wants the planemaker to demonstrate fundamental changes after producing a flawed 737 MAX jet and has urged it to recognize "culpability and accountability" from the very top.

2 days ago

DuPont's new plant helps boost Singapore as regional chemicals hub

Chuang Peck Ming - US chemical giant DuPont has built a new enzyme-blending factory in Singapore, giving a big boost to the country's push to be Asia-Pacific's speciality chemicals hub.

2 days ago

AEM's bid for CEI cements its M&A strategy to extend industry leadership

Claudia Tan - IN WHAT could end up being its largest acquisition to date, AEM Holdings' S$99.7 million buy-out bid for contract manufacturer CEI comes at an opportune time for the fast-growing company to extend its leadership in the industry.

2 days ago

Companies with better social practices earn higher returns: report

Yong Hui Ting - MARKET returns are stronger for companies with better social practices, and the difference has grown more pronounced during the pandemic.

2 days ago

GL posts H1 net loss of US$19.8m on British hotel closures

Annabeth Leow - MAINBOARD-LISTED hotel operator GL sank into the red in its first half-year, as the Covid-19 pandemic hit its British portfolio, unaudited results on Wednesday showed.

2 days ago

STI reverses 2-day losses to end flat, despite Wall Street gains overnight

RAE WEE - THE benchmark Straits Times Index (STI) ended its two-day losing streak to close flat - 0.34 point or 0.01 per cent higher - at 2,977.51, notwithstanding Wall Street's overnight gains on Tuesday.

2 days ago

SPH Reit Q1 DPU down 13%; gross revenue up 10.8 per cent

Annabeth Leow - SPH Reit has declared a first-quarter distribution per unit (DPU) of 1.2 Singapore cents, down from 1.38 Singapore cents the year prior.

2 days ago

SGX names ING's Herry Cho new head of sustainability and sustainable finance

Yong Hui Ting - THE Singapore Exchange (SGX) has appointed Herry Cho as managing director, head of sustainability and sustainable finance. The position is newly created as part of the company's efforts to expand its sustainability efforts.

2 days ago

Aspen says glovemaking unit secured US$100m in sales for 2021

Michelle Zhu - ASPEN Holdings on Wednesday said its newly-established glovemaking venture has agreed to produce US$100 million worth of medical grade examination gloves for an unnamed third-party distributor.

2 days ago

AmBank, CGS-CIMB 'neutral' on glovemaking sector

Rachel Mui - AMINVESTMENT Bank (AmBank) has maintained its "neutral" stance on the glove sector, citing that valuations for glove companies under its coverage are already fully reflected in its earnings outlook.

2 days ago

Novo Tellus to take controlling stake in Grand Venture Tech via placement, vendor share sale

Rachel Mui - PRIVATE equity fund Novo Tellus PE Fund 2 is set to take a 29.6 per cent stake in Grand Venture Technology's enlarged share capital after the fund signed two separate agreements.

2 days ago

Despite pandemic, total 2020 new home sales may match 2019's

Siow Li Sen - THE total of new private homes sold in 2020 hit about 10,000 in a year when Singapore recorded its worst recession as a global pandemic forced lockdowns in many countries. This would put it roughly on par with the number of new homes sold in 2019, once aborted sales are accounted for.