US stocks end mostly lower on grim Covid-19 news
NEW YORK (AFP) – Wall Street stocks finished mostly lower on Friday (Jan 22) as investors grappled with worries over new coronavirus strains while confidence in continued fiscal and monetary […]
Frasers Centrepoint Trust reports 96% retail occupancy
The manager of Frasers Centrepoint Trust (FCT) said that its performance for the final three months of last year remained resilient, with retail portfolio occupancy stable at 96.4 per cent. […]
China cracks down on fake divorces that let people buy more properties
BEIJING • A surge in real estate prices in Shanghai and Shenzhen has prompted the authorities to rein in speculation, in line with the Chinese government’s resolve to keep the […]
Elon Musk says he will give US$100 million for carbon capture prize
NEW YORK (BLOOMBERG) – Elon Musk said he plans to donate US$100 million (S$132 million) towards a prize for the best carbon capture technology, weeks after he became the world’s […]
US dollar slides for third day on economic data, Biden stimulus expectations
NEW YORK (REUTERS) – The US dollar fell for a third straight session on Thursday (Jan 21), with investors seeking out higher-yielding currencies, as a slew of better-than-expected US data […]
CDL flags ‘material impairment loss’ on Sincere Property investment
SINGAPORE (THE BUSINESS TIMES) – City Developments Limited (CDL) is expecting to make provisions for a material impairment loss on its investment in Sincere Property, given the “ongoing unprecedented challenges” […]
Nasdaq ends at records but Biden actions slam oil shares
NEW YORK (AFP) – The Nasdaq pushed to a fresh record on Thursday (Jan 21) on lingering optimism over the US presidential transition, but petroleum-linked shares were hammered by early […]
Jack Ma’s video clip prompts $77b sigh of relief for Alibaba
HONG KONG • He appeared for less than a minute and said nothing about the Chinese government clampdown that had left his business empire in crisis. But for investors who […]
South Korea January 1-20 exports expand 10.6%, sharper than in December
SEOUL (REUTERS) – South Korean exports grew at a much sharper pace in the first 20 days of January, customs agency data showed on Thursday (Jan 21). Outbound shipments increased […]
United Airlines pledges more cost cuts after pandemic-driven quarterly loss
CHICAGO (REUTERS) – United Airlines Holdings said on Wednesday (Jan 20) it aims to cut about US$2 billion (S$2.65 billion) of annual costs through 2023 as it charts a recovery […]
Jack Ma’s brief video chat prompts $76.8 billion sigh of relief for Alibaba
HONG KONG (BLOOMBERG) – He appeared for less than a minute and said nothing about the Chinese government clampdown that had left his business empire in crisis. But for investors […]
Wall Street closes at record high after Biden takes office
NEW YORK (AFP) – Wall Street greeted new US President Joe Biden by climbing even higher on Wednesday (Jan 20), closing at records amid promises of big economic stimulus and […]
Markets upbeat on Yellen’s push for large fiscal stimulus
Regional investors were generally won over yesterday when United States Treasury Secretary nominee Janet Yellen made the case for President Joe Biden’s US$1.9 trillion (S$ 2.5 trillion) relief package. Dr […]
Wall Street’s top banks widen gulf with rivals amid pandemic
NEW YORK (BLOOMBERG) – Evidence is mounting that Wall Street’s top investment banks spent the pandemic building up their leads. As the banner year for markets came to a close, […]
Goldman Sachs profit more than doubles amid Covid-19 upheaval
NEW YORK (AFP) – Goldman Sachs reported another blowout quarter on Tuesday (Jan 19) to conclude a highly profitable 2020 despite the coronavirus pandemic, which provided lucrative opportunities to the […]
US stocks gain on inauguration eve, Yellen call for stimulus
NEW YORK (AFP) – Wall Street stocks won solid gains on Tuesday ((Jan 19) as markets anticipated the presidential inauguration of Joe Biden while Biden’s Treasury secretary nominee reiterated a […]
$1.27b deal to divest 50% of OUE Bayfront to Allianz
The manager of OUE Commercial Real Estate Investment Trust (OUE C-Reit) has agreed to divest a 50 per cent stake in the Reit’s OUE Bayfront property based on an agreed […]
How full employment became Washington’s creed
WASHINGTON • As incoming US President Joe Biden takes office today, his administration and the Federal Reserve are pointed towards a singular economic goal: Get the job market in the […]
Scion of Singapore’s richest clan strives to salvage China deal
SINGAPORE (BLOOMBERG) – Pressure is mounting on an heir to Singapore’s biggest family fortune as he seeks to salvage the property investment at the centre of an ambitious expansion into […]
HSBC chairman gives hints of looming strategy revamp
LONDON (BLOOMBERG) – HSBC Holdings plans to accelerate its expansion across Asia in its imminent strategy refresh, according to chairman Mark Tucker. Mr Tucker said “the world had changed” in […]