Will petrol stations become drive-in cafes?
(REUTERS) – If more vehicles are going to be powered by electricity, what is going to happen to the ubiquitous petrol stations? The head of Thailand’s biggest petrol station network […]
Dow, S&P 500 end at records, extending rally
NEW YORK (AFP) – Wall Street stocks concluded a strong week with fresh records on Friday (April 9), extending a bullish run for US equities propelled by optimistic growth expectations […]
Singapore NGO aims to bring space technology to earth
SINGAPORE – The race to space started in the 1960s, led by the United States and the Soviet Union. Over the years, China, India and others have joined the field. […]
As US prospects brighten, Fed chief sees risk in global vaccination pace
WASHINGTON (NYTIMES) – Jerome Powell, the Federal Reserve chair, stressed on Thursday (April 8) that even as economic prospects look brighter in the United States, getting the world vaccinated and […]
Global supply lines struggle to clear container backlog after Suez chaos
LONDON (REUTERS) – A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing […]
Credit Suisse tightens hedge fund limits amid Archegos fallout
ZURICH (BLOOMBERG) – Credit Suisse Group is tightening the financing terms it gives hedge funds and family offices, in a potential harbinger of new industry practices after the Archegos Capital […]
US stocks rise with S&P 500 ending at another record
NEW YORK (AFP) – Wall Street stocks rose on Thursday (April 8), with the S&P 500 finishing at another record, after lacklustre employment data bolstered expectations the Federal Reserve will […]
Activists get their moment in Japan with US$21 billion Toshiba bid
TOKYO (BLOOMBERG) – The surprise takeover bid for Toshiba is a palpable demonstration of the growing influence in corporate Japan of activist investors, who have gone from largely impotent onlookers […]
Fed members see inflation under control, but more express concern
WASHINGTON (AFP) – Most US central bankers viewed inflation as stable, but some are becoming more vocal about fears the Covid-19 pandemic will push prices higher, according to minutes of […]
Credit Suisse CEO faces anger in the ranks after Archegos mess
NEW YORK (BLOOMBERG) – For the second time in a little more than a week, Thomas Gottstein was facing a tough crowd: his own bankers. The chief executive officer of […]
S&P 500 edges to record as Fed eyes inflation risk
NEW YORK (AFP) – The S&P 500 edged to a record on Wednesday (April 7) while the Nasdaq dipped as US President Joe Biden again called for infrastructure investment and […]
Toshiba gets buyout offer from UK private equity fund CVC, said to top US$20b
TOKYO (BLOOMBERG) – Toshiba Corp confirmed that it received an initial buyout offer from CVC Capital Partners and said it would seek more information as it weighs the proposal. The […]
What happens when women run the economy? We’re about to find out
WASHINGTON (REUTERS) – Women now hold many of the jobs controlling the world’s largest economy – and they’re trying to fix it. Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo […]
Samsung Electronics flags 44% surge in Q1 profit, matching analysts’ estimate
SEOUL (REUTERS) – Samsung Electronics on Wednesday (April 7) said first-quarter profit likely rose 44 per cent, which analysts attributed to brisk sales of home appliances, smartphones and TVs, though […]
BitMEX ex-CEO Arthur Hayes, a Singapore resident, surrenders to face US charges
NEW YORK (BLOOMBERG) – Former BitMEX chief executive officer Arthur Hayes turned himself in to face US charges that he failed to take steps to prevent the pioneering cryptocurrency exchange […]
Spac bubble fears lead Hong Kong, Singapore down cautious path
HONG KONG (BLOOMBERG) – Hong Kong and Singapore are trying to get in on the boom in blank-cheque company listings, while safeguarding investors from what some say is a bubble […]
Singapore hedge fund targets billions for trade finance
SINGAPORE (BLOOMBERG) – A Singapore hedge fund that’s posted steady gains by financing commodity trades in everything from rice to cashews, is working with a global business group to help […]
Credit Suisse investment bank, risk chiefs to depart after Archegos fiasco: Sources
NEW YORK (REUTERS, BLOOMBERG) – Credit Suisse will announce the departure of two senior executives and detail how much it expects to lose through its exposure to Bill Hwang’s family office Archegos […]
Singaporeans who invested with crypto-trading platform Torque lose life savings
SINGAPORE – When property investment wasn’t giving her the returns she wanted, Jenny turned to cryptocurrency. In 2019, she bought $500,000 of the digital money and invested it with Torque, […]
Strong economic data lifts Dow, S&P 500 to record closes
NEW YORK (REUTERS) – US stocks rallied on Monday (April 5) with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor […]