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News & Updates

  • US plans limits on Chinese investment in US technology firms

    Mon, 25 June 2018 09:20:43 +0800

    The U.S. Treasury Department is crafting rules that would block firms with at least 25 percent Chinese ownership from buying U.S. companies involved in "industrially significant technology," the Wall Street Journal reported on Sunday.

  • Bombardier, Toronto union reach new agreement, averting strike

    Mon, 25 June 2018 09:00:32 +0800

    Bombardier Inc and its Canadian workers who assemble turboprops and the company's new top-of-the-line business jet have reached a new labor agreement, averting a potential strike, the company said on Sunday.

  • Uber battles to keep London licence in court appeal

    Mon, 25 June 2018 07:58:07 +0800

    LONDON: Uber goes to court on Monday (Jun 25) to overturn a decision stripping it of its license in London after being ruled unfit to run a taxi service in its most important European market. Regulator Transport for London (TfL) shocked the Silicon Valley firm last September by refusing to renew ...

  • Half of EU business leaders cut UK investment over Brexit: Survey

    Mon, 25 June 2018 08:01:11 +0800

    Britain's looming departure from the European Union has led nearly half of big companies from the rest of the bloc to cut investment in the country, a poll of 800 executives released two years after the Brexit referendum found.

  • GE nearing deal to sell industrial engines unit to Advent: WSJ

    Mon, 25 June 2018 06:10:26 +0800

    General Electric Co is close to a deal to sell its industrial gas engines business to private equity firm Advent International for US$3 billion or more, The Wall Street Journal reported on Sunday, citing people familiar with the matter.

  • UK health minister tells companies to stop warnings about Brexit

    Sun, 24 June 2018 17:30:27 +0800

    Britain's health minister Jeremy Hunt said on Sunday it was inappropriate for businesses like Airbus to issue warnings about moving jobs because of Brexit.

  • Sembcorp wins mega tender to build solar panels on 848 HDB blocks, 27 government sites

    Sun, 24 June 2018 22:57:29 +0800

    SINGAPORE: Sembcorp Industries (Sembcorp) announced on Sunday (Jun 24) that its wholly owned subsidiary, Sembcorp Solar Singapore, has won the project to build, own, operate and maintain rooftop solar systems across 848 apartment blocks and 27 government sites.  The project, which involves a total ...

  • Ikea bets big on India but keeps meatballs off the menu

    Sun, 24 June 2018 11:30:38 +0800

    MUMBAI: Furniture giant Ikea is set to open its first store and restaurant in India after years of trying but arguably its most famous item is off the menu - Swedish meatballs. Ikea, the world's biggest furniture retailer, will next month cut the ribbon on a massive 37,000 square metre outlet in ...

  • Fox spirits and demons: China's tech giants splash out in cartoon arms race

    Sun, 24 June 2018 07:10:26 +0800

    Growing up in the Chinese port city of Dalian in the 1990s, Zhang Hongchang spent hours immersed in Japanese cartoons like Dragon Ball and Naruto.

  • Commentary: Is Airbnb sharing or plain old commercial letting? What regulation needs to consider

    Sun, 24 June 2018 07:10:38 +0800

    Research suggests the short-term letting of commercial properties rather than the sharing of spare house capacity make up the majority of Airbnb listings, three observers at the University of New South Wales point out.

  • EU to respond to any US auto tariff move: report

    Sat, 23 June 2018 22:55:31 +0800

    The European Union will respond to any U.S. move to raise tariffs on cars made in the bloc, a senior European Commission official said, the latest comments in an escalating trade row.

  • Xiaomi puts indefinite delay on CDRs in blow to China's plans for tech listings

    Sat, 23 June 2018 16:35:22 +0800

    HONG KONG: Chinese smartphone maker Xiaomi Corp said on Saturday there is no time frame for a mainland share offering, casting doubt on Beijing's efforts to lure foreign-listed Chinese tech giants back home. Xiaomi had been expected to raise up to US$10 billion, split between its Hong Kong and ...

  • China's Xiaomi targets Europe as it kicks off US$6.1b IPO

    Sat, 23 June 2018 16:43:35 +0800

    HONG KONG: Chinese smartphone maker Xiaomi will aggressively target European markets, using part of the proceeds from its initial public offering worth US$6.1 billion in Hong Kong, the company's co-founder said Saturday. The company is offering US$2.18 billion shares at HK$17 to HK$22 apiece, in a ...

  • South Korean steelmaker POSCO names head of Posco Chemtech as candidate for next leader

    Sat, 23 June 2018 16:05:25 +0800

    South Korean steelmaker POSCO on Saturday selected Choi Jeong-woo, the head of affiliate Posco ChemTech, as its final candidate to lead the company.

  • Xiaomi puts indefinite delay on CDRs in blow to China's plans for tech listings

    Sat, 23 June 2018 18:40:49 +0800

    Chinese smartphone maker Xiaomi Corp said on Saturday there is no timeframe for a mainland share offering and the company has no disagreement with the China Securities Regulatory Commission.

  • Commentary: Fork in the road as brewing trade war hints at revision of US-China relations

    Sat, 23 June 2018 13:14:35 +0800

    Adversarial relations between the US and China can become the “new normal” in a way that serves neither side’s national interests, says McLarty Associates’ James R Keith.

  • Dow ends losing streak as oil shares gain

    Sat, 23 June 2018 05:50:38 +0800

    The Dow snapped an eight-session losing streak on Friday (Jun 23) with petroleum giants Exxon Mobil and Chevron scoring strong gains after OPEC agreed to only a modest production increase.

  • Senior Netflix executive axed over use of the N-word

    Sat, 23 June 2018 10:42:53 +0800

    LOS ANGELES: Netflix sacked its chief spokesman Jonathan Friedland, he revealed on Friday, after he used the N-word twice in the space of a few days during meetings with staff. The head of communications announced his departure after being upbraided for a second time for using the racial slur ...

  • Bitcoin falls to four-month low in persistent bearish trend

    Sat, 23 June 2018 03:20:54 +0800

    Bitcoin dropped to a more than four-month low on Friday, continuing a downtrend after more negative headlines such as Japan's financial regulator ordering six digital currency exchanges to make improvements on their anti-money laundering systems.

  • China's ZTE expected to take last step to lift ban: US official

    Sat, 23 June 2018 03:15:44 +0800

    China's ZTE Corp is expected to deposit US$400 million in an escrow account in a U.S. bank in the "next couple of days," the last step the Chinese company must take before a ban on U.S. suppliers can be lifted, a U.S. Department of Commerce official told Reuters on Friday.

  • Shares in Russia's Sistema drop 9 percent on US sanctions fears

    Sat, 23 June 2018 03:05:50 +0800

    MOSCOW: Shares in Russian business conglomerate Sistema fell 8.7 percent in Moscow trade on Friday, after two U.S. lawmakers called for an investigation into whether the group's owner should be subject to sanctions. In a letter https://bit.ly/2tj4M14 to U.S. Treasury Secretary Steven Mnuchin and ...

  • VW may seek damages from ex-CEO Winterkorn over dieselgate

    Sat, 23 June 2018 03:20:37 +0800

    FRANKFURT: Volkswagen is reviewing whether to seek damages from former Chief Executive Martin Winterkorn, who was at the helm when it emerged the carmaker had cheated on emissions tests, supervisory board member Stephan Weil told a newspaper. "Damages against former management board members are ...

  • Renewable energy seeks demand, investment to survive Trump squeeze

    Sat, 23 June 2018 01:05:32 +0800

    The wind and solar industries hope demand for carbon-free power from U.S. cities, states and corporations can offset headwinds from President Donald Trump's tax policy and tariffs, developers said this week.

  • Harley says EU duties will prompt prices hikes in the autumn

    Sat, 23 June 2018 00:51:13 +0800

    Harley-Davidson Inc expects to have to raise prices in Europe this autumn, when new motorcycle models are due to hit dealers' showrooms, due to EU tariffs on U.S. goods, the head of its central European business said.

  • US unveils new veto threat against WTO rulings

    Sat, 23 June 2018 00:26:06 +0800

    The United States ramped up its challenge to the global trading system on Friday, telling the World Trade Organization that appeals rulings in trade disputes could be vetoed if they took longer than the allowed 90 days.

  • Tesla suffers fire Thursday at Fremont campus

    Sat, 23 June 2018 00:05:55 +0800

    REUTERS: Tesla Inc said it suffered a fire Thursday night at its Fremont facility. “Last night, the structure outside our factory that houses the cardboard and other wood and paper products that are being recycled caught fire," a company spokeswoman said in a statement. There were no reported ...

  • Dow snaps losing streak, helped by energy; Nasdaq falls

    Sat, 23 June 2018 04:10:50 +0800

    NEW YORK: The S&P 500 and Dow Jones Industrial Average climbed on Friday, as the Dow put to rest an eight-day losing streak with a boost from energy stocks, but losses in the technology space kept the Nasdaq in check. The Dow Jones Industrial Average rose 118.98 points, or 0.49 percent, to 24,580 ...

  • Trump threatens 20 percent tariff on European Union cars

    Fri, 22 June 2018 23:15:55 +0800

    WASHINGTON: U.S. President Donald Trump threatened to impose a 20 percent tariff on all European Union-assembled cars coming into the United States, a month after the administration launched an investigation into whether auto imports pose a national security threat. "If these Tariffs and Barriers ...

  • Schlumberger oil services wins in US Supreme Court on patent damages

    Sat, 23 June 2018 00:20:51 +0800

    The U.S. Supreme Court ruled on Friday that companies can recover profits lost due to the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.

  • 'Zero' chance of Renault taking over Nissan, Mitsubishi: Ghosn

    Fri, 22 June 2018 22:55:49 +0800

    Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday.

  • Lufthansa's Eurowings says Air Berlin plane transfer almost done

    Fri, 22 June 2018 21:06:14 +0800

    Lufthansa's budget carrier Eurowings expects the transfer of planes from collapsed rival Air Berlin planes into its fleet to be completed by the end of July, it said on Friday.

  • OPEC agrees ouput rise of 'about' 1 mln barrels: Saudi

    Fri, 22 June 2018 21:43:56 +0800

    VIENNA: OPEC members have agreed on a combined increase in crude oil output of 1 million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday (Jun 22). "I am pleased that at the end of the day we reconciled around the 1 million figure that we have been talking about," ...

  • Former WPP boss Sorrell denies prostitute allegation

    Fri, 22 June 2018 21:11:25 +0800

    Former WPP boss Martin Sorrell denied on Friday that he had visited a prostitute and paid using company money when asked on a stage in front of hundreds of people about why he had left the ad giant.

  • Satellite operator Echostar unveils stake in bid target Inmarsat

    Fri, 22 June 2018 20:45:41 +0800

    U.S. satellite operator Echostar has built a near 3 percent stake in Inmarsat , the British company that it is seeking to buy, stock exchange filings showed on Friday.

  • Wall Street Week Ahead: Supercharged telecom sector could become investor favorite

    Fri, 22 June 2018 19:10:57 +0800

    An overhauled telecommunications sector featuring most of the so-called FANG stocks could debut as Wall Street's hottest bet when it kicks off in September, boosted by a rising wave of media and television acquisitions.

  • Greece hails 'historic' deal to end debt crisis

    Sat, 23 June 2018 05:05:05 +0800

    ATHENS: Greek Prime Minister Alexis Tsipras on Friday (Jun 22) hailed an agreement by Eurozone ministers that will put an end to the country's eight-year bailout program as an "historic" step. Eurozone states declared the severe debt crisis that has weighed heavy on the country since 2010 to be ...

  • Noble Group shares soar 36% on US$100m financing deal

    Fri, 22 June 2018 18:11:03 +0800

    SINGAPORE: Shares in Noble Group surged 36 per cent on Friday (Jun 22) after the embattled commodities trader secured US$100 million in trade finance facilities from a group of investors, winning fresh support for a US$3.4 billion debt restructuring plan that is key to its survival. In a ...

  • Casino and L'Oreal team up to launch new beauty stores

    Fri, 22 June 2018 18:00:52 +0800

    PARIS: French supermarket chain Casino and cosmetics group L'Oreal are launching new beauty stores in Paris this weekend, the latest effort by brick and mortar retailers to retain customers in the face of online competition. The two companies said on Friday that the new stores - dubbed "le ...

  • Chinese media says US has 'delusions' as impact of trade war spreads

    Fri, 22 June 2018 17:50:31 +0800

    U.S. protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to modernization, Chinese state media said on Friday as Beijing kept up with its war of words with Washington over trade.

  • Volkswagen hands over regional responsibility to brands

    Fri, 22 June 2018 17:37:43 +0800

    Volkswagen AG is handing over responsibility for regional markets to its different brands, the German carmaker said on Friday, its latest efforts to get closer to markets to respond to customer demand more quickly.

  • OPEC agrees modest hike in oil supply after Iran softens stance

    Fri, 22 June 2018 20:55:55 +0800

    OPEC will seek agreement on Friday to raise oil production despite opposition from Iran, which has threatened to block the move as it faces export-crippling U.S. sanctions.

  • Uber car's 'safety' driver streamed TV show before fatal crash: police

    Sat, 23 June 2018 01:10:33 +0800

    Police in Tempe, Arizona said evidence showed the "safety" driver behind the wheel of a self-driving Uber was distracted and streaming a television show on her phone right up until about the time of a fatal accident in March, deeming the crash that rocked the nascent industry "entirely avoidable."

  • Electric scooter-sharing moves into the fast lane

    Fri, 22 June 2018 14:25:48 +0800

    How fast is the electric scooter-sharingcraze growing?

  • YouTube offers creators new ways to earn money

    Fri, 22 June 2018 12:10:56 +0800

    SAN FRANCISCO: YouTube, often criticized for not compensating creators well enough, will allow them to set up paid channel memberships, the company said on Thursday (Jun 21).  Currently the vast majority of revenue at the Google-owned service comes from advertising and that will remain a focus ...

  • Chinese media says US has 'delusions', urges focus on domestic development

    Fri, 22 June 2018 10:50:39 +0800

    SHANGHAI: US protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to modernisation, Chinese state media said on Friday (Jun 22).  China has stepped up its war of words with the United States since President Donald Trump threatened on ...

  • Taiwan's Foxconn calls Sino-US trade spat a 'tech war'

    Fri, 22 June 2018 13:40:56 +0800

    Foxconn, the world's largest electronics contract manufacturer, on Friday said the U.S. and Chinese governments are engaged in a technology war, not a trade war, describing the spat as the biggest challenge the Taiwanese company is facing.

  • Stocks set for worst week in three months on trade war worries

    Fri, 22 June 2018 17:06:10 +0800

    Asian shares were under pressure on Friday on signs U.S. trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output.

  • Tesla to close a dozen solar facilities in nine states

    Fri, 22 June 2018 08:43:35 +0800

    Electric car maker Tesla Inc's move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial US$2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees.

  • Commentary: When machines make decisions on our behalf, fears of redundancy, new questions emerge

    Fri, 22 June 2018 09:49:08 +0800

    A new council has been set up to advise the Singapore Government on the ethical use of AI and data but the challenges are far more wide-ranging, say two observers from Accenture.

  • Favorable US tax ruling gives limited boost to big-box retailers

    Fri, 22 June 2018 07:36:05 +0800

    Complying with a U.S. Supreme Court ruling on Thursday that forces online retailers to collect sales tax just like their brick-and-mortar counterparts will be a heavy burden for smaller e-commerce businesses.

  • Disney willing to divest more Fox assets for deal clearance

    Fri, 22 June 2018 06:40:24 +0800

    REUTERS: Walt Disney Co said on Thursday it was willing to divest Twenty-First Century Fox Inc assets that generated up to US$1 billion in earnings before interest, tax, depreciation and amortization (EBITDA) to get a regulatory nod for the deal. Disney in a regulatory filing said it was willing ...

  • Commentary: Blocking WTO appointments hurts US goal of resolving unfair trade, holds system hostage

    Fri, 22 June 2018 08:41:07 +0800

    The Trump administration's action to block appointments to the WTO Appellate Body without proposing specific reforms is a dangerous approach, says one trade policy expert.

  • EU slaps tariffs on US as trade war erupts

    Fri, 22 June 2018 06:29:40 +0800

    BRUSSELS: The European Union slapped revenge tariffs on iconic US products including bourbon, jeans and motorcycles on Friday (Jun 22) in its opening salvo in a trade war with President Donald Trump. The tariffs, which took effect at midnight (6.00am Singapore time Friday) according to the EU's ...

  • Credit Suisse prevails in lawsuit seeking US$300 million for brokers: US judge

    Fri, 22 June 2018 06:20:40 +0800

    A federal judge on Thursday dismissed a lawsuit accusing Credit Suisse Group AG of withholding up to US$300 million of compensation from U.S.-based brokers when it closed their private banking unit in 2015.

  • Largest banks clear US Fed's toughest annual stress tests

    Fri, 22 June 2018 06:33:23 +0800

    The 35 largest U.S. banks are poised to put more money toward dividends, share buybacks and business investments, after clearing the first stage of an annual regulatory stress test on Thursday, showing they have enough capital to withstand an extreme recession.

  • PayPal to acquire fraud prevention company Simility for US$120 million

    Fri, 22 June 2018 04:40:34 +0800

    PayPal Holdings Inc has agreed to acquire fraud prevention technology company Simility for US$120 million in cash, it said on Thursday.

  • Dow down for eighth straight day on trade war worries

    Fri, 22 June 2018 04:40:38 +0800

    NEW YORK: The Dow fell for an eighth straight session on Thursday (Jun 21) on trade war fears, with automakers tumbling following a profit warning from Daimler tied to US-China tariffs. The Dow Jones Industrial Average, which is made up of many companies seen as especially vulnerable to a trade ...

  • Canada could make it harder for US to win fighter bid: Sources

    Fri, 22 June 2018 08:44:07 +0800

    Canada is discussing changes to a multibillion-dollar fighter jet procurement process that could make it harder for a U.S. company to win the order as trade relations between the neighbors sour, two sources with direct knowledge of the discussions said.

  • OPEC rift deepens ahead of crucial meeting

    Fri, 22 June 2018 06:43:10 +0800

    VIENNA:  Iran's oil minister walked out of a key meeting with OPEC peers on Thursday (Jun 21), as a rift deepened with regional rival Saudi over its push to ramp up the cartel's oil output. "I do not think we can reach an agreement," Bijan Namdar Zanganeh told reporters at his Vienna hotel after ...

  • European stock markets fall as global trade tension escalates

    Fri, 22 June 2018 00:11:17 +0800

    LONDON: Global stock markets fell on Thursday (Jun 21) on escalating trade tensions between the United States and other world powers. A day before the European Union was to slap retaliatory tariffs on a range of American benchmark products, including jeans and motorbikes, analysts said trade war ...

  • US weekly jobless claims fall for fourth straight week

    Fri, 22 June 2018 00:00:41 +0800

    WASHINGTON: US claims for unemployment fell for the fourth week in a row last week, extending an unprecedented streak of low levels, the Labour Department reported on Thursday (Jun 21). The continued scarcity of layoffs suggested June was likely to be another strong hiring month as the data were ...

  • Deutsche Telekom says will slash 10,000 jobs at subsidiary

    Fri, 22 June 2018 00:00:40 +0800

    BERLIN: Deutsche Telekom said on Thursday (Jun 21) it would slash 10,000 jobs worldwide at its loss-making IT services subsidiary in the next three years as it seeks €600 million (US$696 million) in savings. Six thousand of the axed posts at the subsidiary T-Systems will be in Germany, a spokesman ...

  • Trade pressures deepen as Daimler warns on sales

    Thu, 21 June 2018 22:56:17 +0800

    Mercedes-Benz maker Daimler shocked investors on Thursday with a warning that trade tensions would hit sales, while fears of a "tit-for-tat" trade war grew as Europe readied retaliatory tariffs against the United States.

  • Activist investor Land & Buildings resumes criticism of Hudson's Bay

    Thu, 21 June 2018 22:40:55 +0800

    Activist investor Land & Buildings on Thursday resumed its criticism of department store owner Hudson's Bay Co , urging it to correct its underperformance and extract value from its substantial real estate holdings.

  • Supreme Court lets states force online retailers to collect sales tax

    Fri, 22 June 2018 02:20:41 +0800

    States have broad authority to force online retailers to collect potentially billions of dollars worth of sales taxes, the U.S. Supreme Court ruled on Thursday, siding with South Dakota in its high-profile fight with e-commerce companies.

  • Wall Street lower as drops in Amazon, Intel add to trade worries

    Fri, 22 June 2018 00:35:49 +0800

    REUTERS: U.S. stocks fell on Thursday as oil prices slid, industrials dropped on worries over U.S.-China trade spat and Amazon led a decline in online retailers after the Supreme Court let states force the companies to collect sales tax. Amazon dropped as much as 1.9 percent, before paring losses ...

  • Intel CEO resigns after probe of relationship with employee

    Fri, 22 June 2018 03:10:56 +0800

    REUTERS: Intel Corp Chief Executive Brian Krzanich resigned on Thursday after a probe found a consensual relationship with an employee violated company policy. The head of the largest U.S. chipmaker is the latest in a line of powerful men in business and politics to lose their jobs or resign over ...

  • Investor Odey says Sky could be worth as much as 50 billion pounds

    Thu, 21 June 2018 21:10:49 +0800

    LONDON: Top-20 Sky investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds (US$65.5 billion). The pay-TV operator is the subject of rival bids from U.S. peer Comcast Corp ...

  • US labor market tightening; mid-Atlantic manufacturing cools

    Thu, 21 June 2018 23:51:06 +0800

    The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions.

  • Hyflux founder-CEO Olivia Lum to attend townhall meetings with shareholders next month

    Thu, 21 June 2018 21:30:32 +0800

    The townhall meetings scheduled for next month will be the first that Hyflux is holding for its 50,000-plus retail investors.

  • Kroger profit beats as online investments pay off, shares soar

    Thu, 21 June 2018 21:10:52 +0800

    Supermarket chain Kroger Co said on Thursday same-store sales, excluding fuel centers, rose 1.4 percent in the first quarter and raised its 2018 profit forecast.

  • Martin Sorrell hits out at WPP over handling of his sudden departure

    Thu, 21 June 2018 19:55:30 +0800

    Martin Sorrell, the recently deposed founder of advertising giant WPP , hit out over his treatment from the board of the British company on Thursday at his first major public appearance since he quit in April.

  • Aston Martin to open Silverstone test center

    Thu, 21 June 2018 19:30:33 +0800

    Aston Martin will open a test and development center at Silverstone, the home of British Formula One racing, as the luxury carmaker continues to expand ahead of a possible stock market flotation.

  • Singapore Airlines to shift planes from SilkAir to budget arm Scoot

    Thu, 21 June 2018 19:12:41 +0800

    SINGAPORE: Singapore Airlines Ltd said on Thursday (Jun 21) it expected to transfer some jets from its SilkAir regional airline to budget carrier Scoot, allowing it to compete more effectively against low-cost rivals like AirAsia Group Bhd and Lion Group. The plan comes after the carrier announced ...

  • Siemens to merge industrial divisions in revamp: Manager Magazin

    Thu, 21 June 2018 19:10:50 +0800

    BERLIN: Siemens Chief Executive Joe Kaeser will reveal plans in August to reduce the number of industrial divisions at the engineering group to boost efficiency, Germany's Manager Magazin reported on Thursday. The long-awaited strategy dubbed "Vision 2020+" foresees scaling back the number of ...

  • Chinese fund buys French crystal maker Baccarat

    Thu, 21 June 2018 19:09:09 +0800

    PARIS: The storied French crystal maker Baccarat, founded by Louis XV more than 250 years ago, said Thursday (Jun 21) that a Chinese fund had finalised a deal to purchase the company, more than a year after the plan was first announced. Fortune Fountain Capital, founded by the Chinese ...

  • Fiat slams EU regulators for acting as supranational tax body

    Thu, 21 June 2018 19:00:57 +0800

    Fiat Chrysler Automobiles NV on Thursday accused EU competition regulators of over-reaching their powers and acting as a supranational tax authority for the bloc when they ruled against its tax deal with Luxembourg three years ago.

  • Linde, Praxair offer concessions in bid to win EU okay for merger

    Thu, 21 June 2018 18:55:40 +0800

    German industrial gases company Linde and U.S. peer Praxair have offered concessions in a bid to address EU antitrust concerns and secure approval for their merger.

  • AT&T to launch wireless plans bundled with video after Time Warner win

    Thu, 21 June 2018 18:41:07 +0800

    AT&T Inc will launch two new unlimited wireless plans next week that will be bundled with a new video streaming service called WatchTV, in the company's first move to pair entertainment with phone service after closing its US$85 billion acquisition of media company Time Warner Inc.

  • Singapore businesses eye opportunities in North Korea in hope of change

    Thu, 21 June 2018 18:50:38 +0800

    SINGAPORE: Nearly 20 Singaporean business people are expected to visit North Korea to explore opportunities there, an executive said on Thursday (Jun 21), in anticipation of better ties after Singapore played host to a North Korea-US summit. Michael Heng, a business consultant in Singapore, said ...

  • Companies need older workers: here is why

    Thu, 21 June 2018 18:10:54 +0800

    The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing surprisingly little to prepare to meet the challenges or adapt to employees' needs.

  • Commentary: Tip of the iceberg, when ‘disguised PMEs’ don’t get overtime pay and fair treatment

    Thu, 21 June 2018 17:44:07 +0800

    Greater awareness concerning who are covered under the Employment Act will be key in ensuring workers are treated fairly, says NTUC Assistant Secretary-General Patrick Tay.

  • Easy as A, B, Xi: China gives economic lessons to North Korea

    Thu, 21 June 2018 17:14:48 +0800

    Chinese President Xi Jinping has coached his North Korean counterpart Kim Jong Un on high-stakes diplomacy. Now he seems poised to give the young autocrat another lesson: how to reform a state-controlled economy while keeping an iron grip on power.

  • Volkswagen Truck & Bus to list 25 percent stake in summer 2019: Manager Magazin

    Thu, 21 June 2018 17:00:45 +0800

    Volkswagen's Truck & Bus division plans an initial public offering in summer 2019 and could raise more than 6 billion euros (US$6.9 billion) by listing a stake of around 25 percent, the division's chief executive told Manager Magazin.

  • Lime to launch dock-free electric scooters in Paris

    Thu, 21 June 2018 16:09:28 +0800

    SAN FRANCISCO: California-based bicycle sharing service Lime said it will launch a fleet of dock-free electric scooters in Paris starting Jun 22. The dockless bike-sharing schemes allow riders who sign up on their smartphones to rent bikes using an app that helps them locate cycles left by ...

  • Ex-Airbus boss urges UK-French defense industry ties after Brexit

    Thu, 21 June 2018 15:25:58 +0800

    A leading French industrialist has urged France and Britain to preserve co-operation in the defense industry despite Britain's departure from the European Union next year.

  • Monsanto faces first US trial over Roundup cancer link

    Thu, 21 June 2018 15:03:32 +0800

    In the first trial of its kind, a Californian dying of cancer is suing US agrochemical giant Monsanto, claiming its popular herbicide Roundup caused his disease -- a case that could have sweeping ramifications.

  • Double whammy: US pork, fruit producers brace for second wave of Chinese tariffs

    Thu, 21 June 2018 15:57:11 +0800

    U.S. producers of pork, already saddled with duties enacted in an earlier round of the escalating trade dispute with China, are bracing for further pain after Beijing hit the products with additional tariffs due to come into effect next month.

  • China-US trade war hits Daimler profit, may sweep sector

    Thu, 21 June 2018 18:41:00 +0800

    German luxury carmaker Daimler cut its 2018 profit forecast, blaming a trade war between China and the United States and stricter pollution targets, sparking fears of a wave of earnings downgrades across the industry.

  • Bank investors await US stress test results for capital returns

    Thu, 21 June 2018 14:25:51 +0800

    NEW YORK: U.S. investors expect banks and other financial institutions to announce large returns of capital to shareholders after the Federal Reserve publishes the first set of results from its annual “stress test” late Thursday. Even so, gains in financial shares may be muted. Many of the 38 ...

  • Xiaomi lowers target as it kicks off IPO

    Thu, 21 June 2018 14:08:36 +0800

    Chinese smartphone maker Xiaomi kicked off its initial public offering Thursday but the firm is likely to pull in about $6.1 billion, far less than originally expected, with investors having mixed views about its main business.

  • MyRepublic launches 3 mobile plans, talks up customer focus

    Thu, 21 June 2018 23:17:43 +0800

    Analysts believe a period of “fierce competitive intensity” within Singapore’s telco landscape is looming, with consumers the main beneficiaries.

  • Luxury sneakers: High style and a booming market

    Thu, 21 June 2018 12:50:40 +0800

    NEW YORK: Christian, aged 10, has 20 pairs of high-end sneakers in his closet at his home in the suburbs of New York. Maxance, who just turned 14, asked his parents for an US$800 pair of Adidas shoes for his birthday. He did not get them. "We live in a world where sneakers are basically works of ...

  • Washington's 'capricious' trade actions will hurt US workers, China warns

    Thu, 21 June 2018 19:35:28 +0800

    China's commerce ministry on Thursday accused the United States of being temperamental over bilateral trade issues, and warned that the interests of U.S. workers and farmers ultimately will be hurt.

  • China could strike back at Dow-listed firms over trade: Global Times

    Thu, 21 June 2018 09:50:28 +0800

    BEIJING: China could hit back at U.S. firms listed on the Dow Jones Industrial Average if U.S. President Donald Trump keeps exacerbating tensions with China over trade, state-controlled Chinese tabloid The Global Times said on Thursday. Trump threatened on Monday to hit US$200 billion of Chinese ...

  • Dollar scales 11-month peak, oil slides ahead of OPEC

    Thu, 21 June 2018 18:00:37 +0800

    Simmering trade and political tensions weighed on European and world shares on Thursday, while oil prices were under pressure ahead of an OPEC meeting that could boost the global supply of crude.

  • IMF approves US$50b aid programme for Argentina

    Thu, 21 June 2018 07:52:10 +0800

    WASHINGTON: The International Monetary Fund on Wednesday (Jun 20) formally approved a US$50 billion aid package intended to help Argentina confront inflation, budget deficits and a weakening currency. The fund's executive board approved the agreement that Argentina struck with IMF staff earlier ...

  • Commentary: Amid rampant online deceit, consumers need to grow up and beware

    Thu, 21 June 2018 14:47:21 +0800

    We can all wish to go back to simpler days when trial and error were the primary factors that determined purchasing decisions but it's time to grow up and beware, says Channel NewsAsia's Bharati Jagdish.

  • Commentary: Singapore Airlines to launch world's longest commercial flight - again

    Thu, 21 June 2018 06:40:44 +0800

    SIA recently announced plans to re-introduce a flight they scrapped just five years ago. One aviation industry observer discusses what's changed.

  • Daimler cuts profit forecast, blaming US-China tariffs

    Thu, 21 June 2018 06:40:41 +0800

    FRANKFURT AM MAIN: German luxury car manufacturer Daimler on Wednesday (Jun 20) cut its profit forecast for 2018, blaming new tariffs on cars exported from the United States to China, amid lingering fears of a trade war between the world's biggest economies. "Fewer than expected SUV sales and ...

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