Tech industry will still grow post-pandemic
(NYTIMES) – In April last year, Mr Jeff Bezos, Amazon’s chief executive and the world’s richest man, announced he was focusing on people rather than profits. Amazon would spend about […]
When virtual clothes are pricier than real ones
(REUTERS) – People care what their avatars are wearing. When the virtual world Decentraland said users could make and sell their own clothing for avatars to wear on the site, […]
Costly electric cars deter drivers from switching
(NYTIMES) – Mr Robert Teglia bought a Tesla Model 3 sedan even though he knew it cost more than many luxury cars. The commercial real estate appraiser tallied the costs […]
Trafigura’s green fuel push helps Singapore’s sustainability efforts
SINGAPORE – Singapore-based Trafigura Group – one of the world’s top commodity traders – is speeding up its push into clean fuels and renewable energy. Trafigura signed an agreement with […]
US stocks finish losing week on positive note
NEW YORK (AFP) – Wall Street stocks finished a lacklustre week on a positive note on Friday (Aug 20), rallying in a wave of bargain-hunting and cutting their losses for […]
At this new Bartley address, city-fringe convenience meets resort-style living
What makes a dream home? For some, it’s the option of being located within serenity, far away from the hustle and bustle of urban living. For others, it’s being in […]
China’s mRNA vaccine firm Abogen raises over $955m from investors including Temasek
BEIJING (REUTERS) – China’s Suzhou Abogen Biosciences said on Thursday (Aug 19) it has raised over US$700 million (S$955 million) to support clinical development of its potential Covid-19 vaccine and […]
Chip crisis worsened by Delta variant threatens to cut auto output by 7.1 million cars
SOUTHFIELD, MICHIGAN (BLOOMBERG, REUTERS) – The global shortage of semiconductors will cut worldwide auto production by as many as 7.1 million vehicles this year, and pandemic-related supply disruptions will hobble […]
Evergrande told to fix debt in rare China rebuke; bonds drop
BEIJING (BLOOMBERG) – Financial regulators in Beijing told China Evergrande Group to resolve its debt problems and refrain from spreading “untrue” information, issuing a rare public rebuke of the developer […]
SGX RegCo orders Kitchen Culture to appoint special auditor
SINGAPORE (THE BUSINESS TIMES) – The Singapore Exchange Regulation (SGX RegCo) has directed Kitchen Culture Holdings to appoint an independent special auditor amid recent developments that include unauthorised transactions and […]
US stocks end nearly flat after choppy session
NEW YORK (AFP) – Wall Street stocks ended a choppy session little changed on Thursday (Aug 19) as markets weighed better employment data against global growth worries. Americans filed 348,000 […]
$12 billion IPO wave sweeps across India as start-ups soar
BENGALURU (BLOOMBERG) – The market for initial public offerings in India is turning into a feeding frenzy. The amount of money raised in IPOs this year has reached US$8.8 billion […]
America is flooded with deepening angst over Chinese tech stocks
HONG KONG (BLOOMBERG) – For American investors, Chinese stocks are becoming the asset not to own. Influential investors like George Soros have trimmed their China exposure, and Ms Cathie Wood’s […]
US stocks fall again after late-session selloff
NEW YORK (AFP) – Wall Street stocks finished solidly lower for a second straight session on Thursday (Aug 18) following Federal Reserve minutes that signalled a likely pullback on stimulus […]
Consumers still prefer to use cash when dining out, shopping at convenience stores: Survey
SINGAPORE – Cash is still the preferred payment choice for many at food and beverage outlets and convenience stores despite Singapore’s ongoing push for digital payments, noted a recent survey. About […]
US Fed officials expect to pull back on stimulus in 2021
WASHINGTON (AFP) – US central bankers expect to start pulling back on stimulus measures this year, if the economic recovery continues, according to the minutes of the July policy meeting […]
Australia’s Qantas to require all employees to be vaccinated against Covid-19
SYDNEY (REUTERS) – Qantas Airways said on Wednesday (Aug 18) it would require all of its employees to be vaccinated against Covid-19 as part of its broader commitment to safety, in […]
SoftBank-backed Karrot becomes $3.7 billion Korea unicorn
SEOUL (BLOOMBERG) – The start-up behind local-marketplace app Karrot has raised US$162 million (S$220 million) from investors, including DST Global, joining a growing list of unicorns in South Korea that […]
Weak US retail sales data ends streak of Dow records
NEW YORK (AFP) – Wall Street’s five-day streak of records ended with a thud on Tuesday (Aug 17) following a lacklustre US retail sales report that exacerbated worries about the […]
Parents must plan early for retirement: Panel
SINGAPORE – Singaporeans, especially parents of young children, have to take stock of their financial situation and do their retirement planning early, said a panel on Tuesday (Aug 17). The […]