Biden’s overture to Asian oil consumers serves warning to Opec+
WASHINGTON (REUTERS) – The Biden administration’s push for a coordinated release of oil stockpiles serves as a warning to the Opec+ production group that it should pump more oil to […]
Opec backlash brews as US lawmakers eye 1890 law as club
WASHINGTON (BLOOMBERG) – Some US lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the Opec oil cartel to the same antitrust laws used […]
Covid-19 infection and death rates should be on a par with seasonal flu by mid-2022: Bill Gates
SINGAPORE – Through a combination of natural immunity, vaccine immunity and new oral treatments, the death and disease rates for Covid-19 are coming down dramatically – and by the summer […]
Risk of flash floods in several areas, including Pasir Panjang, Dunearn Road
SINGAPORE – There is a risk of flash floods occurring in several areas in Singapore after heavy rain on Thursday (Nov 18) filled drains and canals to near full capacity, […]
Not in US’ interests to decouple from China, says former US treasury chief Henry Paulson
SINGAPORE – There are those in the US who advocate financial decoupling from China, but wholesale financial decoupling is impossible and partial decoupling is likely to make America, China and the […]
Amazon bans Visa cards in UK, stepping up battle with payments giant
NEW YORK (REUTERS) – Amazon.com will stop accepting Visa credit cards issued in Britain from next year because of high transaction fees, the e-commerce giant said on Wednesday (Nov 17), […]
Australia needs talks with China for CPTPP trade pact, says Minister Tehan at Singapore forum
SINGAPORE (BLOOMBERG) – Australia will need to be able to conduct ministerial discussions with China as part of a process for the world’s second-largest economy to join a regional trade […]
Yellen extends US debt limit default deadline to Dec 15
WASHINGTON (REUTERS) – US Treasury Secretary Janet Ms Yellen on Tuesday (Nov 16) extended a deadline for a potential US government default to Dec 15 from Dec 3, giving Congress […]
Biden says will announce Fed chair pick in ‘about four days’
WASHINGTON (BLOOMBERG) – United States President Joe Biden told reporters on Tuesday (Nov 16) to expect him to announce a nominee for Federal Reserve chair in “the next four days”. […]
Man, jailed twice over sex acts with minors, now back behind bars for molesting teen
SINGAPORE – A recalcitrant offender, who has been in and out of jail over sex offences against minors, is back behind bars after he molested an underage girl earlier this […]
Inflation is hurting 80% of British businesses, survey says
LONDON (BLOOMBERG) – The British Chambers of Commerce said 80 per cent of UK businesses are feeling the effects of higher prices as well as shortages of goods and workers, […]
Oil prices plunge, roiled by inflation fears
NEW YORK (REUTERS) – Oil prices slumped on Wednesday (Nov 10), hit by a surge in the United States dollar after US President Joe Biden said his administration was looking […]
As China’s property crisis spreads, Beijing says there’s nothing to see
NEW YORK (NYTIMES) – When times were flush for the property developer China Fortune Land, it bought a trophy soccer club and recruited star athletes from Argentina. These days, the […]
GE break-up raises questions about future of conglomerate model
NEW YORK (BLOOMBERG) – General Electric’s break-up raises the question of how many remaining conglomerates will be able to avoid the same fate. GE, an iconic business built over decades […]
General Electric, an industrial conglomerate pioneer, to break up
CHICAGO (REUTERS) – General Electric will split into three public companies as the storied US industrial conglomerate seeks to simplify its business, pare down debt and breathe life into a […]
Man who stabbed flatmate in heart convicted of murder, judge rejects ‘accidental’ defence
SINGAPORE – A 52-year-old man who stabbed his flatmate in the heart during a quarrel over rent was found guilty of murder on Tuesday (Nov 9) after the judge rejected […]
Fed warns of peril in run-up of risky asset prices, stablecoins
WASHINGTON (BLOOMBERG) – The United States Federal Reserve is warning that prices of risky assets keep rising, making them more susceptible to perilous plunges if the economy takes a turn […]
Embrace technology to improve development of sustainable infrastructure: Indranee Rajah
SINGAPORE – With more data, financing sources and better use of the right technology, it is now possible to plan, design, construct, upgrade and maintain all types of infrastructure so that […]
Singapore aims to curb ‘greenwashing’ via stress tests, technology: MAS
SINGAPORE (BLOOMBERG) – Singapore’s financial watchdog is turning to regulation and technology to tackle so-called “greenwashing,” which it considers the weakest link in the push to expanding sustainable finance. Banks […]
Hot pot giant Haidilao to close or suspend 300 restaurants by year-end
SINGAPORE (THE BUSINESS TIMES) – Hot pot chain giant Haidilao International Holding said it will be shutting down or suspending the operations of around 300 poorly performing restaurants, after having […]