Biden’s overture to Asian oil consumers serves warning to Opec+
WASHINGTON (REUTERS) – The Biden administration’s push for a coordinated release of oil stockpiles serves as a warning to the Opec+ production group that it should pump more oil to […]
Opec backlash brews as US lawmakers eye 1890 law as club
WASHINGTON (BLOOMBERG) – Some US lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the Opec oil cartel to the same antitrust laws used […]
Alibaba outlook disappoints after China slowdown hurt sales
HONG KONG (BLOOMBERG) – Alibaba Group Holding slashed its outlook for fiscal 2022 revenue after intensifying competition and dwindling consumer spending depressed growth at China’s top e-commerce firm. The disappointing […]
S&P, Nasdaq end choppy session at records
NEW YORK (AFP) – The S&P 500 and Nasdaq finished a choppy session at fresh records on Thursday (Nov 18), lifted by strength in large technology equities and mostly good […]
China tech war clouds SK Hynix’s plans for a key chip factory
SEOUL (REUTERS) – Plans by Korea’s SK Hynix to overhaul a huge facility in China so it can make memory chips more efficiently are in jeopardy, sources familiar with the […]
Amazon bans Visa cards in UK, stepping up battle with payments giant
NEW YORK (REUTERS) – Amazon.com will stop accepting Visa credit cards issued in Britain from next year because of high transaction fees, the e-commerce giant said on Wednesday (Nov 17), […]
US stocks retreat after recent records
NEW YORK (AFP) – Wall Street stocks retreated on Wednesday (Nov 17), shrugging off good earnings from retailers and consolidating recent market records. “This has been a week where we’re […]
Yellen extends US debt limit default deadline to Dec 15
WASHINGTON (REUTERS) – US Treasury Secretary Janet Ms Yellen on Tuesday (Nov 16) extended a deadline for a potential US government default to Dec 15 from Dec 3, giving Congress […]
Biden says will announce Fed chair pick in ‘about four days’
WASHINGTON (BLOOMBERG) – United States President Joe Biden told reporters on Tuesday (Nov 16) to expect him to announce a nominee for Federal Reserve chair in “the next four days”. […]
Shipping containers get foldable design as logjam cure
WASHINGTON (BLOOMBERG) – Few tools of the global economy have survived without major innovations as long as the shipping container. The supply ructions around the world are presenting an opportunity […]
Wall Street closes higher after positive data
NEW YORK (AFP) – Better-than-expected retail sales data and healthy earnings propelled Wall Street to a positive close on Tuesday (Nov 16), soothing traders who feared inflation would wreak havoc […]
Interest rates unlikely to spike any time soon: Blackstone exec
SINGAPORE – While central banks are moving towards a tightening bias, they will not do so in a manner which will see interest rates spike and put economies at risk. […]
WeWork shows more big losses in its first earnings report as a public company
NEW YORK (NYT) – WeWork reported its first quarterly results as a public company Monday, revealing that its coworking business is still racking up big losses and hemorrhaging cash. But […]
Evergrande chief’s luxury assets in focus as his company scrambles to pay debts
HONG KONG (REUTERS) – As developer China Evergrande Group scrambles to meet its debt obligations, its founder is freeing up funds from luxury assets including art, calligraphy and two high-end […]
Wall Street ends little changed as rising yields weigh on tech
NEW YORK (REUTERS) – Wall Street indexes closed out Monday’s (Nov 15) session near the unchanged mark as rising Treasury yields dented the appetite for technology stocks, while Boeing shares […]
AI and 3D printers: How this Singaporean family business is connecting to the world
After nearly four decades of supplying machines and tools to other companies, homegrown business Flexmech Engineering is branching out. Within three years, it will offer services to support various machines, […]
Crunch at ports may mean crisis for American farms
NEW YORK (NYTIMES) – It is just 96km from El Dorado Dairy in Ontario, California, to the nation’s largest container port in Los Angeles. But the farm is having little […]
Expect some volatility but it’s not the start of a bear market
SINGAPORE – Inflation, economic slowdown, rising interest rates and a normalisation of corporate earnings represent the sum of all fears for risk assets and, in particular, equities. The question is […]
More HDB upgraders buying condos as resale flat prices rise
SINGAPORE – More Housing Board upgraders are snapping up condominium units in a buoyant property market, spurred by resale flat prices climbing faster than those for private housing. The robust […]
CPF rules, being close to family among reasons for upgrading to condos
SINGAPORE – School support staff member Nabisah Abdul Kadir decided to bite the bullet and upgrade to a new condo just one year before she hits 55, an age when […]