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News & Updates

  • McDonald's sets greenhouse gas reduction targets

    Tue, 20 March 2018 22:30:27 +0800

    McDonald's Corp on Tuesday announced an approved, science based target to cut greenhouse gas emissions and battle climate change, saying it is the first restaurant company to do so.

  • General Dynamics raises offer for CSRA

    Tue, 20 March 2018 22:06:49 +0800

    REUTERS: U.S. defense contractor General Dynamics said on Tuesday it raised its offer for sector peer CSRA Inc to US$9.7 billion, including US$2.8 billion in debt, in an attempt to top an unsolicited bid from CACI International Inc's . General Dynamics' revised offer under a merger agreement ...

  • FedEx to roll out 500 more stores inside Walmart

    Tue, 20 March 2018 21:50:35 +0800

    Package delivery company FedEx Corp said on Tuesday it will open 500 FedEx Office stores inside Walmart Inc's U.S. locations, a partnership intended to help both companies attract new customers and handle online order returns.

  • Wall Street edges higher on oil jump, tech still soft

    Tue, 20 March 2018 22:25:26 +0800

    Wall Street's main indexes opened higher on Tuesday, led by gains in financial stocks ahead of a near-certain interest rate hike by the Federal Reserve, but declines in Facebook and Oracle weighed on technology shares.

  • UK investigates Facebook over data breach, to raid Cambridge Analytica

    Tue, 20 March 2018 21:40:31 +0800

    LONDON: Britain is investigating whether Facebook did enough to protect data after a whistleblower said a London-based political consultancy hired by Donald Trump improperly accessed information on 50 million Facebook users to sway public opinion. Facebook shares closed down nearly 7 percent on ...

  • Dozens of toy suppliers object to Toys 'R' Us liquidation plan

    Tue, 20 March 2018 21:25:23 +0800

    Toys 'R' Us heads to U.S. Bankruptcy Court on Tuesday to defend its liquidation plan against an onslaught of objections from creditors, particularly suppliers demanding payment for thousands of toys ranging from Poopeez to Bratz.

  • 15 bids received for Holland Road site

    Tue, 20 March 2018 22:54:28 +0800

    SINGAPORE: A commercial and residential site at Holland Road has attracted 15 bids after the tender closed at noon on Tuesday (Mar 20), the Urban Redevelopment Authority (URA) announced in a media release.  The 99-year leasehold site was launched for sale last November, under the confirmed list ...

  • Volkswagen looking at ways to boost Skoda output, including new plant: sources

    Tue, 20 March 2018 20:45:22 +0800

    Volkswagen is looking at ways to boost production at Skoda, including building a new factory outside the brand's Czech home, to help it keep up with booming demand, company sources said.

  • Improving Swiss watch exports to help mood at Basel trade fair

    Tue, 20 March 2018 20:40:26 +0800

    A recovery in Swiss watch exports picked up pace in February, data showed on Tuesday, a shot in the arm for brands grappling with how to stay relevant to younger buyers and set to unveil their latest models at a trade show this week.

  • FedEx's retail business to add 500 new outlets in Walmart

    Tue, 20 March 2018 21:10:46 +0800

    FedEx Corp's unit said on Tuesday it would add 500 new locations within select Walmart Inc stores across the United States in the next 24 months.

  • Elon Musk in talks with Israeli AI vision firm Cortica: report

    Tue, 20 March 2018 19:16:42 +0800

    Silicon Valley billionaire Elon Musk was in Israel to discuss a collaboration between electric car company Tesla Inc and Tel Aviv-based artificial intelligence firm Cortica, the Globes financial news website said on Tuesday.

  • RBS Chief McEwan hopes to resolve Justice Department case in 2018

    Tue, 20 March 2018 19:00:24 +0800

    Royal Bank of Scotland hopes to reach a settlement with the U.S. Justice Department over alleged mis-selling of toxic mortgage-backed securities this year, its chief executive said on Tuesday, although it has no news on the timing of any deal.

  • EU lawmakers act to address 'unfair' airline competition rules

    Tue, 20 March 2018 18:41:26 +0800

    Non-EU carriers could see their rights to fly in the bloc revoked if they or their home countries engage in "unfair" competitive practices under rules voted on by a European Parliament committee on Tuesday.

  • Asian markets pare early losses, eyes on Fed

    Tue, 20 March 2018 17:30:43 +0800

    Asian markets recovered some of the losses suffered in a morning sell-off on Tuesday (Mar 20) but investors remain on edge ahead of a key Federal Reserve policy meeting.

  • VW says headquarters searched again by prosecutors in emissions case

    Tue, 20 March 2018 16:35:41 +0800

    State prosecutors in Germany have started fresh enquiries into suspicions of market manipulation at Volkswagen as part of the diesel emission scandal, German magazine WirtschaftsWoche cited a spokesman for the investigators as saying on Tuesday.

  • Singtel to bring Dash mobile wallet to region, starting with Thailand

    Tue, 20 March 2018 16:20:16 +0800

    This will allow Singtel Dash users to pay for goods and services at places like Chatuchak Market, MBK Center and Pratunam from mid-2018, says Singtel.

  • US SEC says court should deny Rio Tinto's push to dismiss fraud charges

    Tue, 20 March 2018 14:50:14 +0800

    The U.S. securities regulator said on Monday that a U.S. court should deny a bid by Rio Tinto Plc and two former top executives to have civil fraud charges over a failed African coal project dismissed.

  • China's premier hopes trade war can be averted, pledges more open economy

    Tue, 20 March 2018 22:58:55 +0800

    BEIJING: Voicing hopes that Beijing and the United States could avoid a trade war, Premier Li Keqiang told the close of the annual parliament session that China would open its economy further, so that foreign and Chinese firms can compete on an equal footing. Fears of a global trade war mounted ...

  • Apple grabs two-year lead in 3D sensing race

    Tue, 20 March 2018 13:32:45 +0800

    Most Android phones will have to wait until 2019 to duplicate the 3D sensing feature behind Apple’s Face ID security, three major parts producers have told Reuters, handicapping Samsung and others on a technology that is set to be worth billions in revenue over the next few years.

  • SPH Magazines to retrench 13 employees in restructuring exercise

    Tue, 20 March 2018 13:10:41 +0800

    SINGAPORE: SPH Magazines, the magazine arm of Singapore Press Holdings (SPH), announced on Tuesday (Mar 20) that it will retrench 13 employees this month as part of a major restructuring exercise.  The restructuring exercise, to prepare for a "digitally driven future", will see its staff strength ...

  • China urges US to not act 'emotionally' on trade

    Tue, 20 March 2018 14:49:42 +0800

    BEIJING: Chinese Premier Li Keqiang called on the United States Tuesday (Mar 20) to not act "emotionally" and to avoid a trade war, as President Donald Trump considers new punitive measures against Beijing. After announcing tariffs on global steel and aluminium imports, Trump is now mulling new ...

  • Movie studio MGM to replace CEO Gary Barber

    Tue, 20 March 2018 12:20:15 +0800

    U.S. movie studio Metro Goldwyn Mayer will replace its chief executive, Gary Barber, five months after extending his contract for five years and has begun a search for a new CEO, MGM Holdings Inc said on Monday.

  • Global stocks tread water ahead of Fed meeting

    Tue, 20 March 2018 17:50:37 +0800

    Global equities trod water on Tuesday ahead of a U.S. Federal Reserve policy meeting, while investors reassessed their views of tech stocks following a slump in Facebook's shares after reports of data misuse.

  • Yvonne Tham to take over as CEO of Esplanade from August

    Tue, 20 March 2018 14:03:34 +0800

    The current assistant CEO will be appointed CEO-designate from Apr 1.

  • Singapore tops quality of living index for expatriates in Asia

    Tue, 20 March 2018 11:20:38 +0800

    SINGAPORE: Singapore retained its top position as the city with the highest quality of living in Asia for expatriates according to an annual Mercer index that was released on Tuesday (Mar 20). Globally, Singapore ranked 25th, after cities like Vienna - that topped the list for the ninth year ...

  • Facebook security chief changes role to focus on election fraud

    Tue, 20 March 2018 09:40:39 +0800

    SAN FRANCISCO: Facebook's chief of security said late Monday (Mar 19) his role has shifted to focusing on emerging risks and election security at the global social network, which is under fire for letting its platform be used to spread bogus news and manipulate voters. Alex Stamos announced the ...

  • Australia court rules Heinz 'healthy' toddler food misleading

    Tue, 20 March 2018 08:39:57 +0800

    SYDNEY: Food giant Heinz's misled consumers about the health value of Little Kids Shredz products for toddlers, an Australian court ruled Monday (Mar 19), adding that the US firm should have been aware the claims were deceptive. The Australian Competition and Consumer Commission took Heinz to ...

  • Belgium says investigating 'significant' meat fraud

    Tue, 20 March 2018 07:30:38 +0800

    BRUSSELS: Belgium on Monday (Mar 19) said at least three nations had received falsely labelled meat products from an abattoir in the south of the country in what it called a "significant" food fraud operation. The Belgian food security authority, Afsca, said Hong Kong, Ivory Coast and Kosovo had ...

  • Aramco eyes local IPO, may spike overseas listing

    Tue, 20 March 2018 06:30:38 +0800

    NEW YORK: Saudi Arabia plans to sell shares of Saudi Aramco on a local exchange and may scuttle entirely an earlier plan for an overseas listing, The Wall Street Journal reported on Monday (Mar 19). Aramco had previously discussed an initial public offering in the latter half of 2018 and had been ...

  • Commentary: The rise in Johor property prices and the myth that Singapore buyers are responsible

    Tue, 20 March 2018 11:51:34 +0800

    Are foreigners pushing up property prices in Johor? Political economist Khor Yu Leng says the data shows domestic factors are also at play.

  • German minister offers hope of detente on Trump tariffs

    Tue, 20 March 2018 06:20:38 +0800

    WASHINGTON: A compromise could be reached as soon as this week between the European Union and United States over the tariffs President Donald Trump imposed on steel and aluminium, a German official said on Monday (Mar 19). Talks with US officials could make it "possible to find a solution that can ...

  • Nasdaq ends 1.8% lower as tech selloff weighs on US stocks

    Tue, 20 March 2018 04:42:04 +0800

    NEW YORK: Shares of big technology companies tumbled on Monday (Mar 19) following a Facebook data breach scandal, pushing US equity markets sharply lower. The tech-rich Nasdaq Composite Index dropped 137.75 points (1.84 per cent) to close at 7,344.24. The Dow Jones Industrial Average shed 335.60 ...

  • Newell Brands cuts board deal with Icahn, snubbing Starboard

    Tue, 20 March 2018 02:52:54 +0800

    REUTERS: Newell Brands Inc said on Monday it has agreed to appoint four directors to its board put forward by billionaire investor Carl Icahn, a deal that excludes activist hedge fund Starboard Value LP, which had mounted its own board challenge. The agreement is an example of activist investors ...

  • United Tech CEO plans exit after Rockwell integration: Bloomberg

    Tue, 20 March 2018 02:52:47 +0800

    United Technologies Corp Chief Executive Officer Greg Hayes is planning to leave following completion of the company's integration with Rockwell Collins Inc , Bloomberg reported on Monday.

  • ADM restructures business groups as grain margins falter

    Tue, 20 March 2018 02:11:42 +0800

    CHICAGO: Archer Daniels Midland Co said on Monday that it would restructure its business units, as the U.S. agricultural merchant seeks ways to remain competitive in the face of persistent tight margins in the global grains sector. ADM and rival grain merchants such as Bunge Ltd and Cargill Inc ...

  • McDonald's proposes settlement in US labor board case: source

    Tue, 20 March 2018 02:52:41 +0800

    McDonald's Corp on Monday said it had agreed to settle a U.S. labor board case on whether the company is accountable for its franchisees' alleged labor law violations, according to a source involved in the case.

  • US blocks use of Venezuela's digital currency: White House

    Tue, 20 March 2018 01:10:18 +0800

    U.S. President Donald Trump on Monday blocked the use of Venezuelan cryptocurrencies through an executive order prohibiting such transactions by those in the United States, the White House said in a statement.

  • Pound surges as post-Brexit transition deal sealed

    Tue, 20 March 2018 06:59:15 +0800

    LONDON: The pound rose on Monday (Mar 19) after Britain and the EU reached a landmark deal on a two-year transition after Brexit that will buy businesses and citizens time to adjust to life after the divorce. World stock markets jittered, meanwhile, in a Facebook-led tech sell-off and ahead of a ...

  • US, China flex muscles at G20 meeting

    Tue, 20 March 2018 06:30:48 +0800

    BUENOS AIRES: The United States and China - whose differences are fuelling fears of a trade war - are flexing their muscles at the start of a G20 meeting of finance ministers expected to focus on tariffs, tech and taxes. The meeting of the world's leading economies in Buenos Aires comes days ...

  • Volkswagen to announce US$340 million Tennessee investment to build new SUV: source

    Tue, 20 March 2018 01:31:32 +0800

    Volkswagen AG will announce on Monday that it plans to invest US$340 million to build a new sport utility vehicle at its Chattanooga, Tennessee, plant in the United States as demand surges for larger vehicles, according to a person briefed on the announcement.

  • Trump 'enthusiastic' about reaching NAFTA deal: Canada's Trudeau

    Tue, 20 March 2018 00:30:30 +0800

    U.S. President Donald Trump appears to be "enthusiastic" about coming to an agreement on renegotiating the North American Free Trade Agreement (NAFTA), Canada's Prime Minister Justin Trudeau said on Monday.

  • Majority of French back selling state assets in Renault, Orange, PSA: poll

    Tue, 20 March 2018 00:16:37 +0800

    A majority of French voters back selling all or some of the state's assets in automakers Renault and Peugeot , airliner Air France and telecoms group Orange , an opinion poll showed on Monday.

  • Facebook under pressure as EU, US urge probes of data practices

    Tue, 20 March 2018 02:11:38 +0800

    Facebook Inc Chief Executive Mark Zuckerberg faced calls on Monday from U.S. and European lawmakers to explain how a consultancy that worked on President Donald Trump's election campaign gained access to data on 50 million Facebook users.

  • Trial kicks off in US challenge to AT&T, Time Warner merger

    Mon, 19 March 2018 23:50:24 +0800

    A trial that could shape the future of U.S. media ownership kicks off in Washington this week as the Department of Justice seeks to block AT&T Inc's US$85 billion acquisition of Time Warner Inc.

  • Wall Street sinks as Facebook-led tech selloff deepens

    Tue, 20 March 2018 01:20:49 +0800

    Wall Street's main indexes opened lower on Monday as reports of Facebook's user data being misused weighed on technology stocks and the broader market.

  • AU launches ambitious bid for world's largest free trade area

    Mon, 19 March 2018 21:14:09 +0800

    Africa's leaders will gather in Rwanda Wednesday to launch what they say will be the world's largest free trade area but Nigeria has already pulled out, highlighting the challenge in getting the continent to sign up.

  • US retailers, shoe companies urge Trump not to hit China with tariffs

    Tue, 20 March 2018 02:52:57 +0800

    Several large retail companies, including Wal-Mart , Target , Best Buy and Macy's , are making a direct appeal to President Donald Trump not to impose massive tariffs on goods imported from China, in a letter sent to the White House on Monday.

  • Facebook rocked by data breach scandal as investigations loom

    Tue, 20 March 2018 05:23:33 +0800

    Facebook responded to the explosive reports of misuse of its data by suspending the account of Cambridge Analytica, a British communications firm hired by Trump's 2016 campaign.

  • Toys 'R' Us stores may be closing, but name will live on

    Mon, 19 March 2018 22:35:15 +0800

    Barring a last-minute buyer, Toys 'R' Us will soon disappear from U.S. shopping centers, but the name and its iconic Geoffrey the Giraffe mascot are likely to survive for another generation of Toys 'R' Us kids.

  • Saudi Aramco seeks majority stake in Indian refinery: Economic Times

    Mon, 19 March 2018 19:45:15 +0800

    Oil giant Saudi Aramco is looking to buy a majority stake in a proposed refinery and petrochemical complex valued at 3 trillion rupees (US$46.10 billion) in the western Indian state of Maharashtra, local daily Economic Times reported, citing people familiar with the matter.

  • Investor groups win vote on RBS shareholder committee

    Mon, 19 March 2018 19:20:19 +0800

    LONDON: The Royal Bank of Scotland will allow a shareholder vote on whether to give retail investors more power over the British state-backed lender, ceding to a demand from shareholder groups that had fought for this since 2016. Shareholder groups ShareSoc and the UK Shareholders' Association ...

  • Hong Kong's richest woman sees her wealth halved

    Mon, 19 March 2018 18:33:11 +0800

    Hong Kong's richest woman Pollyanna Chu has seen more than half of her wealth wiped out in the last three months after warnings from regulators about her company led to stock plunges.

  • German finance minister 'seriously worried' about US trade stand-off

    Mon, 19 March 2018 16:16:26 +0800

    BERLIN: German Finance Minister Olaf Scholz is "seriously concerned" about a trade stand-off with the United States, he told mass-selling daily newspaper Bild. Asked by Bild if a trade war was an issue for a meeting of Group of 20 finance ministers in Buenos Aires, Scholz said: "I am cautious ...

  • MAS fines StanChart Singapore S$5.2m for anti-money laundering, terrorism financing breaches

    Mon, 19 March 2018 23:18:21 +0800

    SINGAPORE: Standard Chartered Bank, Singapore Branch (SCBS) has been fined S$5.2 million and Standard Chartered Trust (Singapore) Limited (SCTS) has been fined S$1.2 million for breaches of the Monetary Authority of Singapore's (MAS) anti-money laundering and countering the financing of terrorism ...

  • Societe Generale hopes for resolution to Libor, Libya inquiries within weeks

    Mon, 19 March 2018 16:05:21 +0800

    Societe Generale SA said on Monday that it had entered into a "more active" phase of discussions with U.S. authorities over their investigation into IBOR submissions and transactions made by the French bank involving Libyan counterparts.

  • NTUC FairPrice, Grab offer discounts, rebates with new subscription programme

    Tue, 20 March 2018 17:20:15 +0800

    The SCORE Subscription Programme offers benefits such as a five per cent rebate for incremental spends above S$100 in a single receipt at NTUC FairPrice and Unity outlets. 

  • US trade groups urge Trump to stop planned China tariffs

    Mon, 19 March 2018 14:16:21 +0800

    WASHINGTON: Leading US trade associations have written to President Donald Trump urging him to halt plans to slap tariffs on Chinese imports. The letter, first reported Sunday (Mar 18) by the Wall Street Journal, is signed by 45 US trade groups representing everything from the high-tech industry ...

  • How China's ride-hailing giant Didi plans to challenge Uber in Mexico

    Mon, 19 March 2018 15:21:11 +0800

    MEXICO CITY/SAN FRANCISCO: Working quietly from a shared office space in one of Mexico City's trendiest neighborhoods, China's ride-hailing giant Didi Chuxing is planning to hit its archrival Uber where it hurts. Mexico is one of Uber Technologies Inc's most prized and profitable markets. The San ...

  • Ex-Samsung maverick becomes South Korea's #MeToo champion

    Mon, 19 March 2018 13:24:48 +0800

    SEOUL: The ground for the wave of #MeToo accusations sweeping socially conservative South Korea was laid by a defiant saleswoman who took on the corporate might of Samsung, won a harassment case against her boss and changed career to become a lawyer. Lee Eun-eui now focuses on helping victims of ...

  • Cracking the co-working code in commercial real estate

    Mon, 19 March 2018 13:20:28 +0800

    NEW YORK: Real estate brokers scoff that just a fraction of U.S. office space is occupied by co-working and other flexible workspace options, yet data shows over one-quarter of new leases signed in the past two years came from this burgeoning business. A double-digit growth rate, driven in large ...

  • Powell's Fed to show policy caution, shun political friction

    Mon, 19 March 2018 13:15:42 +0800

    Jerome Powell heads for his first interest rate increase as Federal Reserve Chairman this week with an unanswered question looming above others: could his optimism about the U.S. economy lead to more hikes than markets have prepared for?

  • 90,000 employers to get S$800m in Wage Credit payouts

    Mon, 19 March 2018 13:10:38 +0800

    According to the authorities, small- and medium-sized enterprises will receive around 71 per cent of the sum disbursed.

  • Amazon tracks repeat shoppers for line-free Seattle store - and there are many

    Mon, 19 March 2018 12:50:34 +0800

    Amazon.com Inc is tracking how regularly customers shop at its store without checkout lines in Seattle - and so far, the verdict is they keep coming back.

  • Alibaba to invest S$2.6b more in Lazada, replaces CEO

    Mon, 19 March 2018 12:50:38 +0800

    SINGAPORE: Chinese tech giant Alibaba Group announced on Monday (Mar 19) it will invest an additional US$2 billion (S$2.6 billion) in Lazada, two years after it acquired a controlling stake in the Singapore-headquartered e-commerce site.  CEO Maximilian Bittner will also step down and be replaced ...

  • 'Where can I buy?' - Google makes push to turn product searches into cash

    Tue, 20 March 2018 07:05:26 +0800

    Alphabet Inc's Google routinely fields product queries from millions of shoppers. Now it wants to take a cut of their purchases, too.

  • Indian airports stretched as passenger numbers reach new heights

    Mon, 19 March 2018 11:36:03 +0800

    MUMBAI: India's airports are struggling to cope with a massive surge in passenger numbers and billions of dollars must be spent to boost their capacity, analysts have warned. The country is witnessing a huge boom in air travel as its growing middle class increasingly takes to the skies but experts ...

  • Apple developing own screens using next-generation MicroLED tech: Bloomberg

    Mon, 19 March 2018 17:20:24 +0800

    Apple Inc is developing its own MicroLED device displays and has made small numbers of the screens for testing, Bloomberg reported, in a move that could hurt Asian display suppliers to the U.S. tech giant over the long-term.

  • Pacific Mansion sold for S$980m in biggest collective sale in a decade

    Mon, 19 March 2018 10:48:58 +0800

    SINGAPORE: Pacific Mansion has been sold for S$980 million, the largest collective sale in more than a decade, real estate agency CBRE announced on Monday (Mar 19).  In a news release, CBRE said the public tender for the property was awarded to a tripartite joint venture formed by Guocoland ...

  • US investigating deadly Hyundai, Kia airbag failures

    Mon, 19 March 2018 10:33:04 +0800

    WASHINGTON: The US National Highway Traffic Safety Administration has opened an investigation into a series of deadly crashes in which airbags in Hyundai and Kia cars failed to inflate. The administration's Office of Defects Investigation (ODI) "is currently aware of six crashes with significant ...

  • World stocks on longest slide since November as Fed caution hits

    Mon, 19 March 2018 17:55:13 +0800

    LONDON: Shares were stuck on their worst run since November on Monday, as caution gripped traders in a week in which the Federal Reserve is likely to raise U.S. interest rates and perhaps signal as many as three more hikes lie in store this year. A near 1 percent drop for Europe's main bourses ...

  • Hyundai Motor shares tumble following US probe of air bag failures

    Mon, 19 March 2018 10:39:02 +0800

    SEOUL: Shares of Hyundai Motor slid on Monday (Mar 19) after a US regulator said it had opened a probe into why some air bags failed to deploy in Hyundai and Kia vehicles following crashes that reportedly killed four people and left six injured. This is the second investigation by the US National ...

  • Disputes with temporary workers add to GM Korea's challenges

    Mon, 19 March 2018 07:15:17 +0800

    Having lost his temporary job as a mechanist at GM Korea twice in the past eight years, Shin Hyun-chang was eagerly awaiting a court ruling last month on whether the automaker would be forced to recognize him as a full-time employee.

  • CACI seeks to break up General Dynamics' acquisition of CSRA

    Mon, 19 March 2018 12:35:18 +0800

    U.S. defense contractor CACI International Inc has offered to merge with larger peer CSRA Inc , seeking to disrupt the latter's US$6.8 billion acquisition by General Dynamics Corp , people familiar with the matter said.

  • IMF chief warns 'no winners' in trade wars

    Mon, 19 March 2018 01:40:39 +0800

    IMF chief Christine Lagarde said poor countries and poor people in rich countries have benefited from the surge in global trade over the past decade.

  • Ten years after crash, Americans still have not fallen back in love with stocks

    Sun, 18 March 2018 19:20:16 +0800

    Luke Thomas, 44, an information technology field manager who lives in Miami, began investing in the U.S. stock market in his early 20s, attracted by the prospect of learning “how to grow a little bit of money into a lot,” he said.

  • Baidu video streaming unit iQiyi launches US$2.4 billion US IPO

    Mon, 19 March 2018 10:40:18 +0800

    Chinese video streaming service provider iQiyi Inc, a unit of search engine giant Baidu Inc , has launched an initial public offering in New York worth up to US$2.4 billion, seeking to expand its range of content.

  • Facebook suspends Trump campaign data firm Cambridge Analytica

    Sun, 18 March 2018 05:00:38 +0800

    Facebook says it has suspended the account of Cambridge Analytica, the data analysis firm hired by Donald Trump's 2016 presidential campaign, amid reports it harvested the profile information of millions of US voters without their permission.

  • US government to accept metals tariffs exclusion requests from Monday

    Sun, 18 March 2018 04:10:10 +0800

    The U.S. Commerce Department said it will begin accepting requests on Monday for product exclusions from President Donald Trump's new steel and aluminum import tariffs, but it could take up to 90 days for the agency to make determinations.

  • US probes air bag failures in deadly Hyundai, Kia car crashes

    Sun, 18 March 2018 10:05:36 +0800

    WASHINGTON: The U.S. National Highway Traffic Safety Administration said on Saturday it is opening a probe into why some air bags failed to deploy in Hyundai and Kia vehicles after crashes in which four people were reportedly killed and another six injured. The agency said it was reviewing 425,000 ...

  • Product exclusions from US metals tariffs may take 90 days: document

    Sat, 17 March 2018 10:25:09 +0800

    Steel and aluminum users that depend on imported products not available from U.S. producers may have to wait up to 90 days for an exclusion from the Trump administration's new metals tariffs, according to a Commerce Department document.

  • Skipping paper receipts and eventually, airport queues: Start-up simplifies tourist tax refunds

    Sat, 17 March 2018 08:17:34 +0800

    Singapore-based Tourego wants to make the process of claiming for tax refunds as hassle-free as possible for tourists and local retailers.

  • US stocks end higher amid 'respite' from Washington

    Sat, 17 March 2018 05:50:39 +0800

    Wall Street stocks finished a difficult week on an upbeat note, rising modestly after largely positive US economic data and a more placid session in terms of national politics.

  • Boeing moves to keep 777X on track after engine snag

    Sat, 17 March 2018 05:35:12 +0800

    Boeing Co has scrambled to reorganize testing of its new 777X to avoid being delayed by engine snags, while robots and mechanics are starting work on the fuselage, the executive who heads efforts to build the world's largest twin-engined jet said in an interview.

  • Icahn unveils 6.9 percent stake in Newell, could seek board seat

    Sat, 17 March 2018 05:15:17 +0800

    REUTERS: Activist investor Carl Icahn on Friday disclosed a 6.86 percent stake in Sharpie pens maker Newell Brands Inc , and said he could seek a board seat at the company, which is already battling another top shareholder over board representation. In a regulatory filing, the billionaire investor ...

  • Microsoft hits back at claims it ignored sexual harassment

    Sat, 17 March 2018 05:15:19 +0800

    A senior executive said Microsoft Corp thoroughly investigates issues raised by women in the workplace and fired about 20 employees last year over complaints of sexual harassment as the company seeks to counter claims that it treats female workers unfairly.

  • Coca-Cola, US State Department to use blockchain to combat forced labor

    Sat, 17 March 2018 04:40:31 +0800

    Coca-Cola Co and the U.S. State Department along with three other companies said on Friday they are launching a project using blockchain's digital ledger technology to create a secure registry for workers that will help fight the use of forced labor worldwide.

  • Kering says Swiss activities tax-compliant

    Sat, 17 March 2018 02:55:10 +0800

    French luxury goods group Kering has complied with its tax obligations in Switzerland, it said on Friday, responding to newspaper reports alleging that the company used a Swiss-based scheme to evade taxes on earnings from brands such as Gucci and Yves Saint Laurent.

  • EU tech titans tax plan riles Washington

    Sat, 17 March 2018 02:31:44 +0800

    The United States said Friday it "firmly opposes" any new tax aimed at big technology firms, in a sharp challenge to a European proposal aimed at American digital titans.

  • Boeing 737 Max 7 narrowbody jetliner makes maiden flight

    Sat, 17 March 2018 04:05:09 +0800

    The smallest member of Boeing Co's upgraded narrowbody jetliner range, the 138-seat 737 MAX 7, began its maiden flight on Friday, heralding months of trials before it enters service next year, the company said.

  • Russia considers extra US$17 billion bailout for two rescued banks: Sources

    Sat, 17 March 2018 02:32:10 +0800

    Russia's central bank is considering pumping more than 1 trillion rubles (US$17 billion) into two banks it first bailed out last year to shore up their balance sheets, three sources familiar with the discussion told Reuters.

  • Under scrutiny, New York Fed sets short list for Dudley successor

    Sat, 17 March 2018 00:30:22 +0800

    The Federal Reserve Bank of New York is considering a "handful" of candidates for what is seen as the second most influential job at the U.S. central bank, its directors said on Friday, as political pressure mounts to choose someone who breaks with past precedent.

  • Caterpillar to close facilities, could cut 880 jobs

    Sat, 17 March 2018 00:50:17 +0800

    Caterpillar Inc said on Friday it will close two facilities and is contemplating the closure of its engine manufacturing plant in Illinois, which could potentially result in about 880 job losses.

  • After pay vote, Disney investors question Iger's rich deal

    Fri, 16 March 2018 23:50:16 +0800

    Walt Disney Co Chairman and Chief Executive Robert Iger stands to earn up to US$423 million over four years, according to a new analysis of a compensation package rejected by shareholders, and some investors want to raise the bar on his performance targets.

  • Istanbul taxi drivers go to court to seek shutdown of Uber

    Fri, 16 March 2018 23:20:22 +0800

    Istanbul's taxi drivers have taken Uber to court, accusing the U.S.-based ride-hailing app of endangering their livelihoods in a case that could crimp its business in Europe's largest city.

  • 'Every year we are opening new stores': Toys 'R' Us Asia not affected by US closures

    Fri, 16 March 2018 22:11:32 +0800

    SINGAPORE: Toys "R" Us (Asia) said its operations in this region are not affected by the hundreds of store closures in the United States, as it is a separate legal entity and is financially independent from other Toys "R" Us operating companies around the world.  "We are a financially robust and ...

  • EU starts retaliation process against US tariffs

    Sat, 17 March 2018 02:05:16 +0800

    The European Commission called for industry views on Friday on a list of U.S. products it will subject to import tariffs if the United States taxes European steel and aluminum.

  • Johnson & Johnson says offered US$2.1 billion for LifeScan diabetes unit

    Fri, 16 March 2018 21:15:20 +0800

    Johnson & Johnson has been offered about US$2.1 billion for its LifeScan Inc unit, which makes blood glucose monitoring products, by private investment firm Platinum Equity, the healthcare company said on Friday.

  • US housing starts fall on weak multi-family segment

    Fri, 16 March 2018 21:00:17 +0800

    U.S. homebuilding fell more than expected in February as a plunge in the construction of multi-family housing units offset a second straight monthly increase in single-family projects.

  • Trump's tariffs head for a legal minefield

    Fri, 16 March 2018 20:36:02 +0800

    GENEVA: President Donald Trump's announcement last week of a 25 percent tariff on U.S. imports of steel and 10 percent on aluminum caused a global outcry. The following sets out how Washington might try to justify the tariffs at the World Trade Organization, which is supposed to police agreed free ...

  • Wall Street rises with help from industrial data

    Sat, 17 March 2018 04:15:21 +0800

    U.S. stock index futures pointed to a flat opening for Wall Street on Friday as continuing turmoil in the Trump administration kept investors on edge.

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