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35 people to be charged in court after police raid on unlicensed KTV

aseanpr
2 minutes

SINGAPORE - The police will be charging 35 people aged between 17 and 34 who were caught in an unlicensed KTV operating in a unit in Tradehub 21 at Boon Lay Way. They will be charged in court on Wednesday (Sept 22) with violating restrictions on leaving their place of residence. In a statement on Tuesday, the police said 44 people were found in the unit on Jan 1 this year. Public entertainment and liquor were allegedly provided. Singapore had entered phase 3 restrictions on Dec 28 last year and measures then meant only up to eight persons were allowed for social gatherings. During the period, a limited number of nightlife establishments were allowed to reopen with Covid-19 safety measures in place. These measures included ensuring customers tested negative before entering and had their masks on at all times except while eating and drinking. Police on Tuesday said a 25-year-old man, who was part of the group, has been served a notice of composition, which likely entails a fine. They are currently investigating eight people, aged 20 to 27, from the group. Those found guilty of not complying with safe distancing measures can be fined up to $10,000, jailed for up to six months, or both...

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Dow, S&P 500 end at records as US infrastructure Bill advances

elean
2 minutes

NEW YORK (AFP) - The Dow and S&P 500 ended at fresh records on Tuesday (Aug 10) as industrial companies and commodities producers advanced following Senate passage of a US$1.2 trillion (S$1.6 trillion) infrastructure package. In a victory for President Joe Biden, the Senate approved the sweeping package in a bipartisan vote. The measure now faces a make-or-break vote in the House of Representatives in the coming weeks, where its future is less certain as divisions have sprung up in the Democratic majority. But investors took bets on Tuesday on companies expected to garner a share of the business from the push to upgrade America's roads, bridges and broadband. This includes industrial giant Caterpillar as well as metals producers US Steel and Alcoa. The Dow Jones Industrial Average gained 0.5 per cent to 35,264.67, overtaking a record from last Friday by 55 points. The broad-based S&P 500 increased 0.1 per cent to 4,436.75, edging out the prior record by less than a point, while the tech-rich Nasdaq Composite Index dropped 0.5 per cent to 14,788.09. Passage of the infrastructure Bill helped offset worries about the Delta variant of Covid-19, which has begun to strain hospital capaci...

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US stocks retreat, extending volatile run

elean
2 minutes

NEW YORK (AFP) - Wall Street stocks fell on Tuesday (March 2), giving back a portion of the gains from the prior session's rally as investors girded for more volatility. The yield on the 10-year US Treasury note continued to decline on Tuesday, but investors are grappling with the chance that inflation could rise if President Joe Biden's US$1.9 trillion (S$2.5 trillion) stimulus plan is passed. "The Fed still wants to continue this easy money policy," said JJ Kinahan, chief market strategist at TD Ameritrade, who said many investors fear inflation or view the economy as well on its way to recovery. "The policy makers and the market are having a little bit of a tug of war," Kinahan said. The Dow Jones Industrial Average fell 0.5 per cent to 31,391.52. The broad-based S&P 500 dropped 0.8 per cent to 3,870.29, while the tech-rich Nasdaq Composite Index tumbled 1.7 per cent to 13,358.95. Among individual companies, Target slumped 6.8 per cent despite reporting a 66 per cent jump in fourth-quarter income to US$1.4 billion on another round of surging sales amid the coronavirus pandemic. However, investors were caught off guard by the big-box chain's announcement to spend US$4 billion on ...

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Slightly hazy conditions with burning smell in parts of Singapore on Tuesday morning due to hot spot in Johor: NEA

aseanpr
2 minutes

SINGAPORE - Smoke blown from a hot spot in Johor caused slightly hazy conditions with burning smell in parts of Singapore on Tuesday morning (March 2), said the National Environment Agency (NEA). The hot spot was detected in Johor in the late afternoon on Monday. The smoke plume was blown by the prevailing north-easterly winds towards Singapore before it dissipated later that evening. However, with prevailing winds expected to continue blowing north to north-east over the next few days, residents may continue to detect similar conditions over parts of Singapore on Tuesday, said the NEA in a Facebook post. The hourly concentration of fine particulate matter (PM2.5) entered Band 2 (Elevated) between 6am and 7am in the east of Singapore on Tuesday before returning to Band 1 (Normal) from 8am. During periods of haze caused by forest fires in the region, the dominant pollutant is PM2.5. As at 11am, the 24-hour Pollutant Standards Index (PSI) was 61-74, in the Moderate range. The hourly PM2.5 readings are normal when the concentrations are between 0 and 55 micrograms per cubic metre of air. The readings reach elevated levels when the concentrations are between 56 and 150 micrograms per c...

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Etsy shares jump on praise from Elon Musk after he buys gift for his dog

elean
2 minutes

NEW YORK (BLOOMBERG) - Etsy shares jumped on Tuesday (Jan 26) after the e-commerce company earned praise from Elon Musk, the third time this month that the Tesla Inc. leader drove up a stock with the push of a social media button. "I kinda love Etsy," Tesla's chief executive officer wrote in a tweet. In a follow-up post, Mr Musk explained that he had "bought a hand knit wool Marvin the Martian helm (sic) for my dog" and posted a picture of it. Shares gained as much as 8.6 per cent and hit an intraday record. Etsy's jump comes after hoards of day traders have piled into hot stocks like GameStop and Express, causing both to soar since the beginning of the year. Musk is a favourite of many of those who exchange ideas on Reddit message boards. After US markets closed on Tuesday, Mr Musk weeted about gaming retailer GameStop and the Reddit message board that is behind the big push higher, and its shares jumped more than 50 per cent in after-hours trading. Earlier this month, Signal Advance skyrocketed after Mr Musk urged in a tweet for his followers to "use Signal." That spurred ticker confusion among traders who bought shares in the medical-device provider instead of the closely held n...

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GameStop market value soars past $13 billion after Elon Musk tweet

elean
5 minutes

NEW YORK (REUTERS, BLOOMBERG) - Amateur investors piled further into niche stocks on Tuesday (Jan 26), sending professional short sellers scrambling to cover losing bets, with GameStop skyrocketing for a fourth straight day, thanks in part to Elon Musk. GameStop surged 50 per cent in extended trade after Mr Musk tweeted “Gamestonk!!”, along with a link to Reddit’s Wallstreetbets stock trading discussion group, where supporters affectionately refer to the Tesla CEO as “Papa Musk.” “Stonks” is a tongue-in-cheek term for stocks widely used on social media. Thanks to the gain, GameStop’s market value flew past the US$10 billion (S$13.2 billion) mark, after staring the year at US$1.2 billion. It is now worth more than 10 per cent of S&P 500 stocks including American Airlines Group and Under Armour. GameStop’s after-hours surge added to a 93 per cent jump during Tuesday’s roller coaster trading session, with the videogame retailer’s stock propelled by traders on Wallstreetbets, many of them buying volatile call options. The share spikes of the last few days are raising questions about potential regulatory clampdowns from the US Securities and Exchange Commission (SEC). “Such volatile tra...

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Girl hurt in Woodlands crash wakes up after 11 days in coma

aseanpr
2 minutes

SINGAPORE (THE NEW PAPER) - An eight-year-old girl who was flung out of a van in a road accident in Woodlands last month woke up on Tuesday (Nov 3) after 11 days in a coma. Her father, Mr Eric Tan, 45, told The New Paper on Tuesday night that Lovelynn regained consciousness at about 4pm. "She cannot speak or respond yet. She just woke up and can only move the left side of her body," he said in Mandarin. Earlier in the day at about 7.30am, Mr Tan had posted an update on social media on his daughter's condition. He said the swelling in her brain had gone down and the blood clots were gradually dissolving. But the mobility on the right side of her body would be affected, and she is estimated to need a longer time to recover. "She will be required to stay in ICU (intensive care unit) for further observation," he wrote. Lovelynn is warded at KK Women's and Children's Hospital, where Mr Tan and his wife have been keeping vigil. She was one of four people injured in the accident involving a van driven by her uncle and a red Audi car on Woodlands Avenue 12 just after 8pm on Oct 23. More on this topic Related Story Father overwhelmed by support from public for 8-year-old in coma after Woodl...