US trade deficit widens in May on rising exports
WASHINGTON (AFP) – The US trade gap widened again in May after narrowing in the prior month, according to government data released on Friday (July 2), as imports increased amid […]
GIC-backed clinical trial firm WCG reveals revenue jump in IPO filing
BENGALURU (REUTERS) – WCG Clinical, a clinical trial solutions company backed by Singapore’s sovereign wealth fund GIC, filed for an initial public offering (IPO) in the United States on Thursday […]
South Korea’s June inflation near 9-year peak, rate hike prospects grow
SEOUL (REUTERS) – South Korea’s consumer inflation last month remained below a nine-year peak and stood above 2 per cent for a third straight month, adding pressure on policymakers to raise […]
IMF sees much stronger US growth, 2021 GDP up 7.0%
WASHINGTON (AFP) – The IMF is bullish on the US economic recovery, predicting growth will hit 7 per cent this year – much stronger than previously forecast and “the fastest […]
TikTok bumps up video length to 3 minutes
SAN FRANCISCO (AFP) – TikTok on Thursday began letting users post videos up to three minutes in length, tripling the prior cap to stay ahead of competitors. TikTok is believed […]
Explainer: Binance, the giant crypto exchange under regulatory scrutiny
LONDON (REUTERS) – Britain’s financial watchdog has barred major cryptocurrency exchange Binance from carrying out regulated activities, the latest in a string of moves against the platform by the authorities […]
Alibaba nears first big deal since record antitrust fine
HONG KONG (BLOOMBERG) – Alibaba Group Holding is poised to make its first major investment since it paid a record antitrust fine as part of a bruising crackdown on Jack […]
China’s Didi valued at $107.6 billion in mega US IPO as shares soar
BENGALURU (REUTERS) – China’s Didi Global shares soared nearly 19 per cent in their New York Stock Exchange debut on Wednesday, valuing the ride-hailing giant at US$80 billion (S$107.6 billion) […]
Indonesia close to IPO overhaul to lure mega tech listings like Bukalapak, GoTo
JAKARTA (BLOOMBERG) – Indonesia is close to finalising a sweeping revamp of listing rules, paving the way for South-east Asian start-up giants from Bukalapak.com to ride-hailing leader GoTo to go […]
Spacs can be profitable, but do your sums: Expert
SINGAPORE – Despite claims by detractors, special purpose acquisition companies (Spacs) can provide opportunities for both retail investors and start-up companies to benefit from the flush of liquidity that has […]
S&P 500 ends at record, up more than 8% in 2nd quarter
NEW YORK (AFP) – The S&P 500 finished with another record on Wednesday (June 30), concluding a winning quarter as investors weigh optimism over the reopening economy against worries over […]
Didi prices US IPO at top of range to raise more than $5.4 billion
HONG KONG (BLOOMBERG) – Chinese ride-hailing giant Didi Global Priced shares in its US initial public offering at the top of a marketed range to raise at least US$4 billion […]
Elon Musk to invest up to $40 billion in his Starlink satellite Internet service
BARCELONA (REUTERS) – Billionaire entrepreneur Elon Musk said on Tuesday (June 29) he plans to invest up to US$30 billion (S$40.4 billion) to develop his ambitious Starlink satellite Internet service. […]
South Africa to tighten oversight of crypto assets after series of scams
JOHANNESBURG (BLOOMBERG) – South Africa is moving with more urgency to stiffen oversight of cryptocurrency assets after a proliferation of scams. A new regulatory timeline foresees finalising a framework in […]
Tom Brady, Gisele Bündchen take stake in crypto exchange FTX
NEW YORK (BLOOMBERG) – Celebrity couple Tom Brady and Gisele Bundchen have taken an equity stake in cryptocurrency exchange FTX as part of a long-term partnership, marking the duo’s newest […]
US stocks edge to records as consumer confidence rises
NEW YORK (AFP) – Wall Street stocks edged higher on Tuesday (June 29), adding to recent records, as US consumer confidence continued to improve while investors grapple with the latest coronavirus […]
US banks hike dividends after clearing Fed stress tests
NEW YORK (REUTERS) – Morgan Stanley, JPMorgan, Bank of America, Goldman Sachs and Wells Fargo said on Monday (June 28) they were hiking their capital payouts after the US Federal […]
Binance customers unable to withdraw, deposit pounds via UK’s Faster Payments: FT
LONDON (REUTERS) – Customers of cryptocurrency exchange Binance in the United Kingdom have lost access to withdrawing and depositing pounds through a system known as Faster Payments, the Financial Times […]
Carousell exploring US listing via Spac
SINGAPORE (BLOOMBERG) – Singapore-based online classifieds marketplace operator Carousell is considering a United States listing via a merger with a blank-cheque company, according to sources with knowledge of the matter. The […]
Easy gains in markets are behind us
SINGAPORE – Investors should never be afraid to challenge conventional wisdom on markets. This time a year ago, the global stock market had staged a stunning 40 per cent rally […]