Work from home is spurring some to retire early

(NYTIMES) - For Ms Mona Janochoski, a chemist who ran a laboratory, working from home during the coronavirus pandemic was the deciding factor. It was the first time in her career that she had not gone to an office every day. And she found that she enjoyed being home with her husband, Tom, who had retired as the chief financial officer of a trust company in 2017. Her daughter, who was a graduate student, was living with them, too. That got her thinking about something she had not given much thought to before: quitting her job after 36 years and seeing what else life had in store. "When I was home, my husband really liked it," Ms Janochoski, 60, said. "He got used to the idea of me retiring. We kept going back to the adviser to make sure we could retire." Retirements in the pandemic by those at the top of the income ladder were often by choice. And for that slice of corporate employees, working from home for some or all of the pandemic scrambled their thinking on work and life. They had been working for decades in an office, and suddenly at home with a spouse, they began to see the possibility of a different life. "The vast majority of our clients have at least inquired about what th...

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Morning Briefing: Top stories from The Straits Times on July 31

Good morning! Here are our top stories to kick-start your Saturday, July 31. 10 new Covid-19 clusters including Zuellig Pharma; 7 cases in ICU The number of patients in ICU has more than doubled to 7, from 3 the day before. READ MORE HERE Five-room Bishan HDB flat sold for record $1.295 million The 120 sq m unit has about 89 years left on its lease and sits above level 35 in a 40-story block. READ MORE HERE US Vice-President Kamala Harris to visit Singapore and Vietnam She will engage leaders on regional security, the Covid-19 pandemic and climate change among other issues. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Table tennis: Tokyo 2020 is my Olympic swansong, says Singapore's Yu Mengyu The 31-year-old will exit sport's grandest stage with her head held high. READ MORE HERE Challenges and opportunities in S'pore's post-pandemic recovery What are some of these shifts, and what challenges - and opportunities - will they bring? READ MORE HERE School, interrupted: How Covid-19 has affected students around the world ST correspondents in India, Philippines, Malaysia and Indonesia report on how students there have fared. READ MORE HER...

US stocks fall on Delta worries, profit taking

NEW YORK (AFP) - Wall Street stocks fell on Friday (Juy 30), concluding the week on a lackluster note on worries about the Delta variant of Covid-19 and profit taking after earlier gains. Analysts described investor unease as more companies delay or shift their return-to-office plans in light of the latest uptick in Covid-19 infections. Markets absorbed another round of mostly strong earnings from large companies, although Amazon shares were hammered on a disappointing outlook. Meanwhile, data from the Commerce Department showed that consumer spending climbed by more than expected in June, while inflation remained at an elevated level. The Dow Jones Industrial Average finished down 0.4 per cent at 34,935.47. The broad-based S&P 500 shed 0.5 per cent to 4,395.26, while the tech-rich Nasdaq Composite Index dropped 0.7 per cent to 14,672.68. The losses pushed all three indices into the red for the week. Travel-related stocks had an ugly session on worries the Delta variant will crimp activity. Major airlines such as United Airlines fell more than 3 per cent, while cruise lines such as Carnival lost more than 4 per cent. Amazon slumped 7.6 per cent after missing revenue forecasts. The ...

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Morning Briefing: Top stories from The Straits Times on July 30

Good morning! Here are our top stories to kick-start your Friday, July 30. Dover Forest to be used for both housing and nature; first housing project to be launched in 2022 HDB flats will be built in the eastern half while parts of the western half will be kept as a nature park. READ MORE HERE Housing project in Dover Forest to meet demand for homes in the area It will help meet strong demand for housing in mature estates, including from young families who want to live near their parents in the area, said HDB. READ MORE HERE More severe cases of Covid-19 likely as numbers triple in 2 weeks: Experts Experts were quick to add that the healthcare system should be able to cope despite the worrying trend. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news 10 new Covid-19 clusters in S'pore including stainless steel supplier; Punggol Primary cluster grows to 12 Covid-19 self-test kits will be given to those who visited Mayflower Market and Food Centre and Redhill Market. READ MORE HERE Mandatory Covid-19 testing for residents of 2 HDB blocks in Choa Chu Kang and Jurong West Seven cases have been found at Block 3 Teck Whye Avenue while 4 cases ha...

Robinhood closes more than 8% down in grim stock market debut

NEW YORK (REUTERS) - Robinhood Markets' shares closed more than 8 per cent lower at US$34.82 per share on their first day of trading, as many investors who used the popular trading app to participate in this year’s “meme” stock trading frenzy snubbed its initial public offering (IPO). Only 16 of the 99 US-listed companies that were worth at least US$10 billion (S$13 billion) when they went public declined on their first day, according to Dealogic, whose data goes back to 1995. “A year ago we were trading the stock at 15 bucks a share. And our most recent trades in early June were US$55 a share (in the private market),” said Glen Anderson, president of Rainmaker Securities, a secondary trading platform for private pre-IPO shares. Anderson said they traded about US$200 million in Robinhood stocks in the private market last year. Robinhood’s easy-to-use interface has made it a hit among young investors trading from home on cryptocurrencies and stocks such as GameStop during the Covid-19 pandemic. Some IPO investors stayed on the sidelines, citing concerns over its frothy valuation, the risk of regulators cracking down on Robinhood’s business, and lingering anger with the company’s imp...

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Morning Briefing: Top stories from The Straits Times on July 26

Good morning! Here are our top stories to kick-start your Monday, July 26. Free Covid-19 test kits for visitors of 2 markets as Jurong Fishery Port cluster grows to 792 2 new clusters were reported by MOH, while 3 clusters were closed. READ MORE HERE 16 quick test centres for Covid-19 set up in S'pore, 4 more planned Each centre has a daily testing capacity of between 400 and 1,000, depending on its size, says HPB. READ MORE HERE Ministers reiterate PM Lee's call for seniors to get vaccinated against Covid-19 200,000 seniors aged 60 and above have yet to be vaccinated. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Canadian who robbed StanChart bank in S'pore will not be caned No alternative punishment will be imposed on David James Roach in lieu of the remitted sentence. READ MORE HERE New lease of life for recovered Covid-19 patient in Singapore after kidney transplant After two disappointments, the 52-year-old received an organ in January. READ MORE HERE Olympics: Heartbreak for S'pore's Caroline Chew after horse's injury results in her elimination Chew's horse Tribiani was found to be bleeding from the mouth during the competition....

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He started his haulage business smack in the middle of the pandemic – and thrived

While many businesses are struggling to stay afloat during the Covid-19 pandemic, some industries have been fortunate enough to remain on an even keel. This includes companies that depend on the steady inflow of goods into Singapore to transport and sell them. One of these businesses is B&S Services hauling company, which was launched by Mr Mohd Noor Mohd Salim, 34, affectionately called Bai, just as Covid-19 started to gather pace. The venture is clearly a labour of love (he named it after the initials of his nickname and his wife’s name, Suzie), and definitely not a foolhardy move. Mr Mohd Noor has been in the hauling trade since 2007, which means he was already very familiar with this business of first-mile transport. While last-mile delivery services bring goods to their purchasers, first-mile hauliers transport goods from locations such as ports to destinations such as warehouses, where they are then processed for further distribution. Clients for such hauling companies include freight consolidators, which combine multiple shipments of goods for delivery to a common location. Mr Mohd Noor extensively discussed the pros and cons of starting his own business, during a global cri...

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Will making salary public boost fairness?

(NYTIMES) - Ms Carolyn Kopprasch earns US$225,000 (S$306,000) a year. Ms Maria Thomas makes US$267,890. Then comes Ms Darcy Peters with a salary of US$105,143. That information, taken in before I exchange pleasantries with these women, feels almost illicit. All three work at Buffer, a fully remote social media company that made the unusual decision eight years ago to disclose every employee's salary online. The goal was to close the firm's gender pay gap. It did not entirely work. It turns out that the gap between men's and women's earnings is a numbers problem; making those numbers public does not make them even. Even when women and men work the exact same jobs, men earn more. That is partly because women are less likely to negotiate for higher pay and more apt to be penalised when they do. "Instead of being seen as shrewd, a woman negotiating is seen as complaining," said the Institute for Women's Policy Research president C. Nicole Mason. In recent decades, some experts have argued that there is an obvious means of closing the pay gap: making salaries public. When women know how much their male counterparts earn, they are in a better place to demand the same compensation. And co...

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Pay $272k to return to life decades after death?

(NYTIMES) - When an 87-year-old California man was wheeled into an operating room just outside Phoenix last year, the pandemic was at its height and medical protocols were being upended across the country. It was an elaborate workaround, especially considering that the patient had been declared legally dead more than a day earlier. He had arrived in the operating room of Alcor Life Extension Foundation - located in an industrial park near the airport in Scottsdale, Arizona - packed in dry ice and ready to be "cryopreserved", or stored at deep-freeze temperatures, in the hope that one day, perhaps decades or centuries from now, he could be brought back to life. As it turns out, the pandemic that has affected billions of lives around the world has also had an impact on the non-living. From Moscow and Phoenix to China and rural Australia, the major players in the business of preserving bodies at extremely low temperatures say the pandemic has brought new stresses to an industry that has long faced scepticism or outright hostility from medical and legal establishments that have dismissed it as quack science or fraud. In some cases, Covid-19 precautions have limited the parts of the bod...

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$1.5m more to support HDB ground-up projects as pandemic highlights their importance

SINGAPORE - An obstacle course for pets in Bukit Panjang. A hub in Toa Payoh with an indoor hydroponics system and an art gallery. A calendar featuring recipes of 12 dishes such as Korean fried chicken, nasi goreng and chapati. These are examples of what Housing Board residents came up with in 2020 to liven up their neighbourhoods, where life had to go on despite the pandemic. About 650 people started 60 projects in eight HDB towns last year, taking ownership of their environment through HDB's Lively Places Challenge, an initiative started in 2016. It was begun to support HDB ground-up projects, and will get another $1.5 million for the next few years. National Development Minister Desmond Lee made the announcement on Saturday (July 24), recognising that community projects are more important now that people have been forced to stay home more. "Your neighbour may need to carry out renovations while you are taking important work meetings at home, or your family may be affected by second-hand smoke," he said. "Ultimately, good neighbourliness and strong communities are still the most critical ingredients to help residents overcome disagreements and find common ground." One of the winn...

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Morning Briefing: Top stories from The Straits Times on July 24

Good morning! Here are our top stories to kick-start your Saturday, July 24. Tokyo Olympics: An opening ceremony like no other as Japan welcomes the world The ceremony lacked the usual glitz with fewer than 1,000 people in attendance. READ MORE HERE Jurong Fishery Port Covid-19 cluster grows to 665 cases; free test kits for those who visited 2 markets Test kits will be provided to those who visited the Admiralty and Bukit Timah markets. READ MORE HERE Higher numbers of unlinked Covid-19 cases in S'pore due to slower identification of linkages: Experts Linking the cases is more for monitoring the situation in the community, said Prof Teo Yik Ying. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news askST: Why are more vaccinated people getting Covid-19? Fully vaccinated people currently make up 44 per cent of Covid-19 cases in Singapore. READ MORE HERE Reimagining Singapore: How the city might look like in the future A review of Singapore’s long-term land use plans is under way. What does it seek to achieve? READ MORE HERE 31-year-old motorcyclist killed, 6 injured in accident along CTE near Orchard Road CTE tunnel before the Cairnhill Circl...

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Reimagining Singapore: How the city might look like in the future

Keep S'pore flexible with 24-hour nodes, creative use of space for evolving needs Singapore is changing its approach to long-term planning. Rather than deciding the development needs of future generations for them, the Government is now setting a path for them to make land use decisions for themselves, when the timing is right. To facilitate this process, the nation's latest review of its long-term land use plans will focus on flexibility and developing options - a shift away from generating a single concept plan, which has been the product of each of four such reviews since 1971. Keeping plans flexible and adaptable will help future generations cope with the uncertainties to come, said National Development Minister Desmond Lee on July 17 at the launch of a year-long public consultation for the review. READ MORE HERE Connectivity, safety key in planning for S'pore's silver population Preparing for a greying population is more than just installing handrails and ramps in homes and outdoor spaces, as clever land use planning can play a big role in supporting active ageing. Easy access to amenities such as medical facilities, retail outlets, community centres and green spaces is one wa...

Singapore’s grip on $41 billion oil market challenged by China

SINGAPORE (BLOOMBERG) - Singapore is facing the greatest competition yet to its status as the dominant marine fuel supplier in Asia, with China luring more ships to its shores following a rapid expansion of its port and refining facilities. China's marine fuel sales - known in the industry as bunkering - have almost doubled over the past five years and the nation is banking on attracting ships that travel to nearby ports in major economies such as South Korea and Japan. Singapore still has a commanding position as the top supplier to a sector valued at over US$30 billion (S$41 billion) in Asia, but Chinese growth is accelerating. The epicentre of China's bunkering is Zhoushan, an archipelago to the south of Shanghai on the east coast. Some of the nation's newest and biggest crude oil refineries are being built in the area, while the government has introduced tax incentives that make Chinese fuels more competitive. "Singapore has had an edge over other Asian ports on all parameters," said Mr Jayendu Krishna, director at Drewry Maritime Advisors. "It continues to be so today, however, slowly other ports have been trying to catch up. Zhoushan will certainly capture a share of the vess...

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Morning Briefing: Top stories from The Straits Times on July 20, 2021

Good morning! Here are our top stories to kick-start your Tuesday, July 20. River Valley High School death: How the day unfolded Several messages went out on social media as staff and students tried to make sense of what was happening. READ MORE HERE 10 more markets and food centres, 2 KTV clubs linked to Covid-19 cases: MOH Covid-19 self-test kits will be given to those who visited 4 markets in Geylang Serai, Ang Mo Kio and Haig Road. READ MORE HERE Links to KTV cluster, lax mask wearing behind Covid-19 spread at Jurong Fishery Port: Workers It is understood that a KTV hostess who recently tested positive for the virus had worked at the port. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Spike in Covid-19 cases raises disturbing questions, but also carries lessons for S'pore People who want to see more measures eased should first help convince any older acquaintances to get vaccinated, says Salma Khalik. READ MORE HERE Eateries in S'pore implement dine-in rules based on Covid-19 vaccination status in different ways With the onus falling on F&B operators to do the checking, many are setting their own policies. READ MORE HERE Wall Stre...

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Morning Briefing: Top stories from The Straits Times on July 19

Good morning! Here are our top stories to kick-start your Monday, July 19. Fencing, mandatory SafeEntry to be implemented at more markets amid rise in Covid-19 cases: MOH The added access control will better enable contact tracing to ring-fence cases, MOH said. READ MORE HERE Reduced capacity for physical sports and dance CCAs in schools; group sizes down from 5 to 2 MOE said group sizes should also be reduced from five to two people. READ MORE HERE Seniors not vaccinated against Covid-19 should stay at home as much as possible, go out for only essential reasons: Lawrence Wong By doing so, they will reduce risk of catching the virus and developing severe illness, he said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news 3 more markets and food centres, 4 more KTV clubs linked to Covid-19 cases Fishmongers at Haig Road Market and Cooked Food Centre, Jurong Central Plaza and Shunfu Mart are affected. READ MORE HERE Years 1-4 students at Raffles Institution, P2 pupils at Yangzheng Primary to be on HBL after positive Covid-19 tests A stall assistant at RI's school canteen tested positive for Covid-19 on Saturday. READ MORE HERE 'It’s terrify...

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Morning Briefing: Top stories from The Straits Times on July 18

Good morning! Here are our top stories to kick-start your Sunday, July 18. Businesses scramble for alternative supplies of fresh seafood as Jurong Fishery Port shuts over Covid-19 cases Consumers snapped up seafood amid growing concern over impending shortage after the Jurong Fishery Port was closed until July 31. READ MORE HERE S'pore's F&B operators fear falling into a deeper hole with new Covid-19 restrictions on dining in Some in industry say there’s not enough time to react, while others call for more government assistance. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news 12 more markets and food centres linked to Covid-19 cases: MOH Most cases are fishmongers who came into contact with stallholders at Jurong Fishery Port. READ MORE HERE URA seeks ideas from Singaporeans for long-term land use plans The long-term planning review will focus on resilience, flexibility and inclusiveness. READ MORE HERE He's 34, she's 51: More couples in Singapore bridging the age gap Age gap is less of an issue now due to changing gender norms, say experts. READ MORE HERE A time to repair, build and make things better The Straits Times has seen its for...

Battery tycoon charges ahead in wealth rankings

(BLOOMBERG) - Looks like selling car batteries is a better business than e-commerce and fintech combined. After all, Dr Zeng Yuqun, founder of the world's biggest electric-vehicle battery maker, has overtaken Mr Jack Ma in the wealth rankings, a symbolic moment in the rise of China's green billionaires. His net worth has jumped to US$49.5 billion (S$67 billion), according to the Bloomberg Billionaires Index, as shares of Contemporary Amperex Technology (CATL) surged this year. That exceeds Alibaba Group co-founder Mr Ma's wealth of US$48.1 billion and makes Dr Zeng one of the five richest people in Asia for the first time. Investors have pushed up stocks such as CATL, a key supplier to Tesla, as the country leads the market for electric-vehicle sales and pursues an ambitious policy of reaching carbon neutrality in 2060. "The billionaire ranking used to be dominated by real estate tycoons and later tech entrepreneurs, and now we are seeing more from the new energy sector," said Mr Hao Gao, director of Tsinghua University's NIFR Global Family Business Research Centre. "As the industry leader for electric-vehicle batteries, CATL will benefit most from the carbon emission goal." Dr Zen...

Pandemic hobbies that make money

(NYTIMES) - Ms Jenny Eisler learnt to knit in the first grade and was good at it. She also did time as a Girl Scout, which imbued her with an admirable can-do spirit. Consequently, when New York City locked down last spring to stem the spread of the coronavirus, and Ms Eisler, 25, was stuck in her studio apartment without much to do, she impulsively ordered some embroidery hoops, needles and thread on Amazon, correctly betting that a creditable chain stitch was but a few YouTube tutorials away. "The first thing I embroidered was the word 'quarantine' in green thread on my grey hoodie," said Ms Eisler, who works at an online fashion retailer. "I embroidered all my clothes. And then when I ran out of my own stuff to embroider, I started embroidering things for my sister." She began documenting her progress on Instagram and, lo and behold, people started direct-messaging her to place orders - 100 in the first few weeks - for tie-dyed custom-embroidered sweatshirts. "It just kind of happened," she said. "My friends all wanted them because everyone was at home and wearing sweat clothes." The coronavirus has spawned an army of journal-keepers, sourdough seers, bakers, cooks, weavers, pai...

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Morning Briefing: Top stories from The Straits Times on July 17

Good morning! Here are our top stories to kick-start your Saturday, July 17. Jurong Fishery Port, Hong Lim Market, Jalan Besar eatery closed as 2 new Covid-19 clusters surface Seven cases were linked to each of the two new clusters. READ MORE HERE 29 women arrested in operation targeting pivoted KTVs; 10 to be deported A total of 29 women aged between 20 and 47 were arrested. READ MORE HERE Singapore to tighten Covid-19 measures from July 19: What you need to know MOH has announced a calibrated tightening of some measures to contain the spread in the community. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news South-east Asia's Covid-19 vaccine scramble ST reports on the vaccination roll-out in South-east Asia and its critical role in stemming a fresh wave fueled by the Delta variant. READ MORE HERE Singapore to donate Covid-19 vaccines under global initiative to other countries: PM Lee The Republic intends to donate its excess vaccines under the Covax initiative to other countries. READ MORE HERE Only 6 of first 88 cases in KTV Covid-19 cluster fully vaccinated; patrons included 19-year-old The cases included individuals between the ages...

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Premier of South Australia Launches $1.5m Vaccine and Immunobiology State-of-the art Laboratory for APAC Clinical Trials

ADELAIDE, AUS, July 14, 2021 - (ACN Newswire) - Agilex Biolabs, Australia's largest and most technologically advanced regulated bioanalytical laboratory for clinical trials today announced that the Premier of South Australia the Hon Steven Marshall MP has launched its new $1.5m vaccine and immuno-biology laboratory. The facility, the most sophisticated in APAC, will attract biotechs and pharma from around the world for advanced clinical research. Premier of South Australia the Hon Steven Marshall MP has launched Agilex Biolabs' new $1.5m vaccine and immunobiology laboratory. Over the past 2 years, Agilex Biolabs has invested more than $3.5m in technology and systems at the APAC headquarters in Adelaide.Premier of South Australia, Steven Marshall launched the new facility today, thanking Agilex Biolabs for investing in the State and creating jobs in this important sector."South Australia is the most liveable city in the country, and the third in the world and investment such as this continues to build on this," Premier Marshall said."This new facility certainly puts South Australia firmly on the global map for high-tech clinical research.""We have seen significant advances in vaccin...