Tesla profit doubles as electric car deliveries surge
NEW YORK (AFP) – Tesla on Wednesday (Oct 21) said profits in the past quarter more than doubled as the electric car giant forecast deliveries hitting 500,000 this year. Net […]
Bitcoin surges past US$13,000 after PayPal embrace
NEW YORK (BLOOMBERG) – Bitcoin surged past US$13,000 (S$17,620) for the first time since July 2019 after PayPal Holdings announced it will allow customers to use cryptocurrencies. The largest digital […]
Hong Kong hub puts Cathay Airways in tighter corner than SIA
HONG KONG (BLOOMBERG) – They are both critically important to their domestic economies, highly regarded by customers and totally reliant on international travel. They are also in deep financial strife […]
Regional markets mixed on uncertainties in US
Regional investors seemed stuck in limbo yesterday seeking signs of certainty regarding a stimulus package in the United States while also keeping a wary eye on the looming presidential election […]
Pandemic speeds up labour shift to robots
ZURICH • Robots will destroy 85 million jobs at mid-sized to large businesses over the next five years as the Covid-19 pandemic accelerates changes in the workplace, a World Economic […]
Brazil police expand Car Wash probe to Petrobras trades of diesel, jet fuel in Asia and Europe
RIO DE JANEIRO (REUTERS) – Brazilian police expanded a long-running corruption probe at state-controlled oil company Petroleo Brasileiro or Petrobras based in part on secret recordings made by a former […]
Top Morgan Stanley commodities executives leave for WhatsApp breach: Sources
NEW YORK (BLOOMBERG, REUTERS) – The two most senior commodities executives at Morgan Stanley are leaving after compliance breaches linked to the use of communications tools such as WhatsApp, according […]
Netflix falls short on new subscribers as Covid-19 boost fizzles
BENGALURU (REUTERS) – Netflix on Tuesday (Oct 20) posted its weakest subscriber gains in four years as streaming competition increased, pandemic restrictions eased and live sports returned to television. The […]
New Silkroutes appoints Darrell Lim as acting chairman after Goh Jin Hian’s exit
SINGAPORE (THE BUSINESS TIMES) – Troubled healthcare provider New Silkroutes Group announced on Tuesday night (Oct 20) the appointment of Darrell Lim Chee Lek as acting independent non-executive chairman of […]
Wall Street shares end higher on stimulus optimism
NEW YORK (REUTERS) – Wall Street shares closed higher Tuesday (Oct 20) on growing optimism that US lawmakers are nearing a deal on a stimulus package aimed at cushioning the […]
Australian casino faces probe over money laundering
SYDNEY • Crown Resorts’ stock yesterday slumped the most since March after the casino operator said it is being investigated for possible breach of anti-money laundering and counter-terrorism financing rules. […]
Telkomsel’s $954m tower sale will boost Singtel dividends: DBS
The sale of 6,050 telecommunication towers by Singtel’s Indonesian joint venture company for 10.3 trillion rupiah (S$954 million) will likely support the Singapore telco’s dividends, said DBS Group Research. Jakarta-based […]
Ant Group ‘has China nod for Hong Kong leg of $48b dual listing’
HONG KONG • Investor Jack Ma’s Ant Group has won key approval from the China Securities Regulatory Commission (CSRC) for its listing in Hong Kong, paving the way for what […]
Singapore shares rally on hope of US stimulus
Most key regional share markets rallied yesterday on the back of optimism that a new United States stimulus package would be passed before the Nov 3 presidential election. Speculation that […]
Dyson sells Singapore luxury penthouse for $62m
British billionaire inventor James Dyson is selling his luxurious Singapore penthouse atop the city state’s tallest building, his company said yesterday, about a year after buying it for a reported […]
Japan export decline slows in September as shipments recover
TOKYO (REUTERS) – Japan’s exports in September fell at a slower pace than in the previous six months as US-bound shipments of cars started to recover from Covid-19 lows, suggesting […]
Malaysia Airlines restructuring talks prolonged, CEO tells staff
SINGAPORE (REUTERS) – Malaysia Airlines’ parent company is still holding negotiations with lessors and creditors over a restructuring plan to keep the carrier alive, but the talks are taking longer […]
Dysons sell 3-storey S’pore penthouse at Wallich Residence at a loss for $62m: Report
SINGAPORE (BLOOMBERG) – The Dysons behind the self-named British consumer electronics company are selling their triplex penthouse at Wallich Residence for $62 million – less than the record purchase price […]
Crown Resorts says regulator to probe Melbourne casino on money-laundering concerns
BENGALURU (REUTERS) – Casino operator Crown Resorts said on Monday (Oct 19) that Australia’s financial crime watchdog had launched a probe into its Melbourne business on suspicions of money-laundering and […]
Automation helps firm cope with labour crunch
Manufacturer Koei Tool restructured its production process last year, so it could continue making plastic injection moulds despite the many challenges such as staff shortages that it later faced in […]