Company briefs
CRCT malls see rise in sales, footfall in Q3 CapitaLand Retail China Trust (CRCT) tenants’ sales have recovered 25.8 per cent quarter on quarter as Covid-19 restrictions ease, with third-quarter […]
Accounting Standards Council gets new chairman
Mr Quek See Tiat will become chairman of Singapore’s Accounting Standards Council (ASC), while Mr Desmond Chin will join as a new member, starting tomorrow. Deputy Prime Minister Heng Swee […]
Ant’s IPO attracts record $4 trillion in retail orders
HONG KONG • The biggest initial public offering (IPO) of all time has unleashed an investor frenzy for the record books. Individual investors in Hong Kong and Shanghai placed orders […]
Hong Kong economy shows first signs of revival since protests began
HONG KONG (BLOOMBERG) – Hong Kong’s economy is showing the first signs of emerging from a crippling recession sparked by political unrest last year and deepened by the global pandemic. […]
Jack Ma’s Ant IPO in Shanghai lures $3.88 trillion of bids in investor frenzy
HONG KONG (BLOOMBERG) – Chen Wu frantically clicked the order button on his online brokerage account as the clock struck noon. Like thousands of individual investors in Hong Kong and […]
Big Tech earnings disappoint market where nothing’s good enough
NEW YORK (BLOOMBERG) – Solid quarterly earnings from America’s biggest tech firms weren’t enough to keep investors from selling late on Thursday (Oct 29), the latest sign sentiment is turning […]
Wall Street rebounds as market eyes tech results, strong US data
NEW YORK (REUTERS) – US stocks closed higher on Thursday (Oct 29), with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters […]
Samsung warns of weak outlook after posting strong Q3 earnings
SEOUL • Samsung Electronics warned yesterday that earnings in the current quarter will decline, saying the strong growth in its mobile and memory business that helped third-quarter profit beat forecasts […]
Oil plunges over 5% as pandemic surges, US crude output soars
NEW YORK (REUTERS) – Oil prices fell more than 5 per cent on Wednesday (Oct 28), sending Brent to a four-month low as surging coronavirus infections in the United States […]
Global economic rebound at risk from rising coronavirus cases
BENGALURU (REUTERS) – There is a high risk the resurgence in coronavirus cases halts the global economic recovery by year-end, according to Reuters polls of around 500 economists, a majority […]
Samsung Q3 operating profit jumps 59% on strong smartphone sales
SEOUL (REUTERS) – Samsung Electronics reported a 59 per cent rise in quarterly operating profit on Thursday (Oct 29) as US restrictions on China’s Huawei Technologies boosted the South Korean […]
TikTok sues US rival Triller in patent dispute
NEW YORK (BLOOMBERG) – TikTok and its parent ByteDance sued rival Triller Inc, asking a US judge to clear up a “cloud” over the China-based popular video-streaming app after Triller […]
ECB to pave way for more stimulus as recession fears grow
FRANKFURT (REUTERS) – The European Central Bank is expected to resist pressure to unveil fresh stimulus measures on Thursday (Oct 29) but it will likely pave the way for action […]
Airbnb sets stage for blockbuster IPO with choice of Nasdaq listing
NEW YORK (REUTERS) – Home-rental startup Airbnb plans to list its shares on the Nasdaq, setting the stage for one of 2020’s most high-profile stock market debuts. Earlier this month, […]
IATA slashes airline revenue forecast for 2021 on Covid-19 resurgence
PARIS (AFP) – Airline industry revenues are expected to remain 46 per cent lower in 2021 than the US$838 billion (S$1.14 trillion) booked in the last pre-coronavirus year of 2019, […]
Nearly 200 European airports risk going bankrupt if travel fails to recover
PARIS (AFP) – Nearly 200 European airports risk insolvency in the coming months if passenger traffic does not recover, a trade association warned on Tuesday (Oct 27), as nations contemplate […]
AMD to buy rival chipmaker Xilinx in $47.7 billion all-stock deal
NEW YORK (BLOOMBERG) – Advanced Micro Devices (AMD) agreed to buy Xilinx for US$35 billion (S$47.7 billion) in stock, taking the chipmaker into more diverse and profitable markets and adding […]
S&P 500, Dow slip on worries about earnings, US stimulus outlook
NEW YORK (REUTERS) – Stocks on Wall Street closed little changed on Tuesday (Oct 27), with the Dow and S&P 500 slipping on disappointing earnings and little hope for a […]
Discount broker Charles Schwab to cut 1,000 jobs
NEW YORK (REUTERS) – Charles Schwab Corp said on Monday (Oct 26) it is laying off about 1,000 positions in the combined workforce of Charles Schwab and TD Ameritrade to […]
AIG names new CEO, plans to spin off life and retirement unit
NEW YORK (REUTERS) – Insurer American International Group (AIG) on Monday (Oct 26) said its board approved a plan to separate the life and retirement business from the rest of […]