Hyundai to buy Boston Dynamics for up to $1.1b
SEOUL • Hyundai Motor units and its chairman have agreed to buy an 80 per cent stake in robot-maker Boston Dynamics from SoftBank Group for around 800 billion won to […]
MAS expands mandate of steering committee to drive Sibor transition
The Monetary Authority of Singapore (MAS) is expanding the mandate of the steering committee that is overseeing the Swap Offer Rate (SOR) transition to Singapore Overnight Rate Average (Sora). MAS […]
S’pore tech firm Sea raises $3.4b in upsized stock offering
Singapore’s Sea, the technology start-up that has become South-east Asia’s most valuable company, increased the size and set the final price of a secondary stock offering to raise at least […]
Airbnb shines as Dow, S&P 500 edge lower
NEW YORK (AFP) – Wall Street stocks had a mixed session on Thursday (Dec 10) following disappointing employment data, while Airbnb rocketed higher in its market debut. New applications for […]
Chinese firms dropped from Dow Jones indexes after US order
SHANGHAI • S&P Dow Jones Indices (DJI) said yesterday it would remove Chinese companies, including Hikvision, from its products, becoming the latest index provider to do so following a Trump […]
Facebook faces US antitrust suits over WhatsApp, Instagram
WASHINGTON • United States federal and state antitrust enforcers filed suit against Facebook on Wednesday, claiming the social media giant abused its dominant position and seeking to unwind its acquisitions […]
ADB forecasts shallower slump for Asia this year
MANILA • Developing Asia’s economy will contract this year by less than previously estimated as it begins recovering from the coronavirus pandemic, according to the Asian Development Bank (ADB). The […]
FTA with UK further cements S’pore’s status as top trading hub
Even as trade remains muddied by rising protectionism and a recession-inducing pandemic, Singapore continues to consolidate its position as a major node in the global supply chains that lead in […]
US economy to slow in first quarter of 2021 but reach pre-Covid levels in a year: Poll
BENGALURU (REUTERS) – US economic growth will lose momentum this quarter and next but expand faster than previously thought after that, according to a Reuters poll of economists, a firm […]
Airbnb reaches $62.8 billion value in above-range IPO
NEW YORK (BLOOMBERG) – Airbnb, within hours of DoorDash nearly doubling in its trading debut, priced its initial public offering (IPO) above a marketed range to raise about US$3.5 billion […]
Credit Suisse shuts $2.67 billion insurance units after withdrawals
ZURICH (BLOOMBERG) – Credit Suisse Group is winding down two reinsurance vehicles with assets of about US$2 billion (S$2.67 billion) after key investors moved their funds out. Humboldt Re and […]
Pound drops after leaders dinner fails to break Brexit impasse
SINGAPORE (BLOOMBERG) – The pound fell after the UK and the European Union agreed to give Brexit trade negotiations until Sunday (Dec 13), with large gaps remaining between the two […]
Merger of Cathay cinemas with Golden Village proposed as Covid-19 bites business
SINGAPORE – Singapore-listed mm2 Asia has entered into a heads of agreement for the possible merger of its Cathay cinema business with Golden Village cinemas in Singapore, which is owned […]
AirTrunk opens its first Singapore data centre
SINGAPORE (THE BUSINESS TIMES) – AirTrunk on Wednesday (Dec 9) opened its first Singapore data centre – located on 1.5 hectares of land in Loyang due to its close proximity […]
US food delivery giant DoorDash raises $4.5 billion in above-range IPO
NEW YORK (BLOOMBERG) – DoorDash raised US$3.37 billion (S$4.5 billion) in an initial public offering (IPO) above its marketed range, according to people familiar with the matter. The San Francisco-based […]
GIC-backed Rede D’or valued at $29.4 billion in Brazil IPO
SAO PAULO (REUTERS) – Rede D’or, Brazil’s biggest hospital chain, was valued at 112.5 billion reais (S$29.4 billion) in an initial public offering priced on Tuesday (Dec 8), sources told […]
Global investors keep pouring money into Asia’s red hot markets
SYDNEY (BLOOMBERG) – Be it stocks, bonds or almost any other asset class, foreign cash is pouring into Asia on bets it will be fastest-growing region as the world recovers […]
S&P 500, Nasdaq end at new records, extending rally
NEW YORK (AFP) – Wall Street stocks finished in record territory again Tuesday (Dec 8) on enthusiasm over coronavirus vaccines and anticipation of stock offerings by Airbnb and DoorDash. Both […]
Uber abandons pursuit of self-driving cars, sells unit to Aurora
NEW YORK (BLOOMBERG) – Uber Technologies sold its self-driving car division to Aurora Innovation and took a stake in the start-up, pulling back from its vision for a fleet of […]
Nasdaq closes at record high as growth names get a lift
NEW YORK (REUTERS) – The Nasdaq closed at a record high on Monday (Dec 7) after investors moved into mega-cap growth stocks even as a new round of Covid-19 restrictions […]