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News & Updates

  • New Zealand orders mass cattle cull to eradicate disease

    Mon, 28 May 2018 14:55:20 +0800

    New Zealand Monday ordered the culling of 126,000 cattle in an attempt to eradicate the painful Mycoplasma bovis disease, which causes udder infections, pneumonia and arthritis.

  • Asia energy firms dive with oil, Trump-Kim hopes provide optimism

    Mon, 28 May 2018 12:05:56 +0800

    HONG KONG: Energy firms plunged with oil prices in Asia Monday (May 28) after Saudi Arabia and Russia signalled they could lift output, while indications Donald Trump's summit with Kim Jong Un could be back on provided support to equity markets. Both main contracts tanked on Friday after Saudi oil ...

  • South Korean prosecutors raid Samsung Securities office over fat finger trade

    Mon, 28 May 2018 10:50:40 +0800

    SEOUL: South Korean prosecutors searched Samsung Securities' head office as part of their investigation into the brokerage's recent fat finger error. The brokerage's accidental issuance of 2.8 billion shares to employees - more than 30 times the number of its outstanding shares and theoretically ...

  • Trading in Samsonite shares halted, pending statement

    Mon, 28 May 2018 09:35:19 +0800

    Trading in shares of Samsonite International SA was suspended on Monday pending a statement from the world's largest luggage maker, just days after a short seller accused it of questionable accounting practices and poor governance.

  • US stock futures up on North Korea, euro shaken by Italy, oil falls

    Mon, 28 May 2018 08:50:16 +0800

    U.S. stock futures rose on Monday on signs that the United States and North Korea are still working towards holding a summit next month, while oil prices extended losses on expectations of more supply from major producers.

  • German carmakers morally obliged to refit dirty diesels: Minister

    Mon, 28 May 2018 06:23:03 +0800

    German carmakers have a moral obligation to refit heavily polluting diesel vehicles on the country's roads, environment minister Svenja Schulze said, but conceded that the government had no legal means to make them do so.

  • Commentary: Why do airport rankings matter?

    Mon, 28 May 2018 06:26:14 +0800

    Singapore’s Changi has been voted the world’s best six years running — yet one observer says he remembers so little of it.

  • As clock ticks, doubts grow over Kinder Morgan's Canada oil pipe expansion

    Mon, 28 May 2018 02:50:16 +0800

    As a hard deadline set by Kinder Morgan Canada Ltd for scrapping a key pipeline expansion looms, there is growing doubt among investors, contractors and government officials about reaching a deal to save the CUS$7.4 billion (US$5.7 billion) project.

  • Bombardier launches longer-range variants of Global business jets

    Mon, 28 May 2018 01:55:17 +0800

    Canada's Bombardier Inc on Sunday announced two new longer-range variants of its existing large-cabin Global business jets, which the company expects to generate higher revenues during a time of recovering appetite for corporate planes.

  • Qualcomm to meet China regulators in push to clear US$44 billion NXP deal: Sources

    Sun, 27 May 2018 19:20:24 +0800

    BEIJING: Qualcomm Inc is expecting to meet this week in Beijing with China's antitrust regulators in a final push to secure clearance for its proposed US$44 billion acquisition of NXP Semiconductors NV, three sources told Reuters. The acquisition has been caught in the crosshairs of rising U.S ...

  • Cyclone shuts Sembcorp Salalah water production plant

    Sun, 27 May 2018 15:30:17 +0800

    Sembcorp Salalah Water and Power Co , which operates an electricity generation and seawater desalination plant in Oman, said its water production plant had been temporarily shut down because of rough seas as a result of a tropical storm.

  • Tencent chairman pledges to advance China chip industry after ZTE 'wake-up' call: reports

    Sun, 27 May 2018 13:35:33 +0800

    Tencent Holdings chairman pledged to advance China's semiconductor industry, saying the blow to ZTE Corp from Washington's ban on U.S. firms supplying telecommunications company was a "wake-up" call, local media reported.

  • Daimler faces scrutiny of 120,000 Vito, C-Class diesels: BamS

    Sun, 27 May 2018 06:30:18 +0800

    Daimler faces an investigation of 40,000 diesel Vito vans and 80,000 C-Class model cars for possible illicit software that allowed the vehicles to emit excess pollution without detection, Bild am Sonntag reported, citing no sources.

  • Oil output could return to October 2016 level, says Russia's Novak

    Sun, 27 May 2018 02:25:16 +0800

    A return to the oil production levels that were in place prior to the 2016 deal to cut output is one of the options for easing curbs, Russia's energy minister said.

  • Young entrepreneurs rally to beat soaring Geylang bazaar costs

    Sat, 26 May 2018 16:40:38 +0800

    The old gotong-royong spirit returns and this time, it means business.

  • Hyflux says will meet with investors at ‘right time': SIAS

    Sat, 26 May 2018 15:38:59 +0800

    SINGAPORE: As the ongoing troubles of Singapore water treatment firm Hyflux continue to worry investors, its chief executive officer, Olivia Lum, has given the assurance that she plans to meet with investors at "the right time". This was revealed by president of the Securities Investors ...

  • Tesla seeks to dismiss securities fraud lawsuit: US court document

    Sat, 26 May 2018 09:10:20 +0800

    Tesla Inc on Friday asked a court to dismiss a securities fraud lawsuit by shareholders who said the electric vehicle maker gave false public statements about the progress of producing its new Model 3 sedan.

  • US jury fails to reach verdict in latest J&J talc trial

    Sat, 26 May 2018 07:25:18 +0800

    A South Carolina jury on Friday could not agree on a verdict in a case of a woman whose family said her long-term use of Johnson & Johnson's Baby Powder led to her death from asbestos-related cancer, resulting in a mistrial.

  • EU-Singapore FTA on track to come into force by 2019: Iswaran

    Sat, 26 May 2018 23:23:25 +0800

    The European Union-Singapore Free Trade Agreement (EUSFTA) is on track to come into force by 2019, said Minister-in-charge of Trade Relations S Iswaran in a wrap-up interview with reporters in Paris, France, on Thursday (May 24).

  • S&P 500 companies return US$1 trillion to shareholders in tax-cut surge

    Sat, 26 May 2018 05:30:19 +0800

    S&P 500 companies have returned a record US$1 trillion to shareholders over the past year, helped by a recent surge in dividends and stock buybacks following sweeping corporate tax cuts introduced by Republicans, a report on Friday showed.

  • Wall Street sees split finish amid energy dip, political uncertainty

    Sat, 26 May 2018 05:10:38 +0800

    Wall Street had a split finish on Friday (May 25), as energy shares slid and continued whiplash from geopolitical headlines weighed on the Dow and S&P 500 while the Nasdaq rose.

  • Investors find little appetite for consumer staples

    Sat, 26 May 2018 03:55:24 +0800

    The consumer staples index , the S&P 500's biggest laggard for 2018, could have further to fall and may even look less appealing as a defensive play in the event the economy turns sour.

  • Tesla flies in new battery production line for Gigafactory

    Sat, 26 May 2018 03:11:03 +0800

    Tesla Inc has flown six planes full of robots and equipment from Europe to California in an unusual, high-stakes effort to speed up battery production for its Model 3 electric sedan, people familiar with the matter told Reuters this week.

  • Tesla hires James Zhou as China CFO

    Sat, 26 May 2018 02:10:23 +0800

    Tesla Inc on Friday announced a number of key executive hires including James Zhou as its China CFO and Neeraj Manrao, a former Apple executive, as director of energy manufacturing.

  • FBI warns Russians hacked hundreds of thousands of routers

    Mon, 28 May 2018 09:58:54 +0800

    REUTERS: The FBI warned on Friday that Russian computer hackers had compromised hundreds of thousands of home and office routers and could collect user information or shut down network traffic. The U.S. law enforcement agency urged the owners of many brands of routers to turn them off and on again ...

  • EU states agree rules to make search engines pay for news

    Sat, 26 May 2018 01:40:55 +0800

    Search engines like Google and Microsoft's Bing could be made to pay for showing snippets of news articles under draft copyright rules endorsed by European Union ambassadors on Friday.

  • French govt seeks end to rail strike with 35 bn euro debt pledge

    Sat, 26 May 2018 01:16:46 +0800

    The French government has agreed to absorb 35 billion euros in debt from the state railway SNCF, union officials said Friday, raising the chances of an end to nearly two months of strikes.

  • US reaches deal to keep China's ZTE in business: Congressional aide

    Sat, 26 May 2018 09:31:36 +0800

    The U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business, the Trump administration told lawmakers, according to a report Friday in the New York Times.

  • US Fed's Powell defends central bank independence

    Sat, 26 May 2018 00:30:38 +0800

    Political meddling in central bank policies has proven disastrous for economies and monetary policy independence should be maintained, Federal Reserve Chair Jerome Powell said on Friday (May 25).

  • S&P, Dow fall as oil drop hurts energy; chipmakers boost Nasdaq

    Sat, 26 May 2018 04:50:19 +0800

    NEW YORK: The S&P 500 and the Dow eased on Friday after a steep drop in oil prices pressured energy stocks, but losses were limited by gains in chipmakers and retail stocks. U.S. crude tumbled 4 percent to settle at US$67.88 a barrel after Saudi Arabia and Russia said they were ready to ease ...

  • Airlines comply with China's request to change description of territories

    Sat, 26 May 2018 07:45:31 +0800

    China's aviation regulator said on Friday 18 out of 44 airlines it contacted have changed how they refer to Chinese territories on their websites by the 30-day deadline it set.

  • Trump metals tariffs make Granite City great again, but at what cost?

    Fri, 25 May 2018 23:31:08 +0800

    GRANITE CITY, Ill.: After Donald Trump was elected president in 2016 on a pledge to "Make America Great Again" and revive the country's old industrial heartland, Dave Chrusciel hoped someday to return to his previous job at the steel mill here in this southern corner of Illinois. That day has ...

  • Icahn sells some of his Herbalife shares, remains biggest investor

    Sat, 26 May 2018 00:21:10 +0800

    Billionaire investor Carl Icahn said on Friday that he sold some of his shares in Herbalife as the nutrition and weight loss company bought back some of its own shares because the position had become too within Icahn's portfolio.

  • Mexico minister: 40 percent chance of NAFTA deal before July election

    Fri, 25 May 2018 21:45:51 +0800

    MEXICO CITY: There is about a 40 percent chance of concluding the renegotiation of the North American Free Trade Agreement (NAFTA) before Mexico's presidential election on July 1, Mexican Economy Minister Ildefonso Guajardo said on Friday. "After July 1 and before the U.S. (mid-term) elections (in ...

  • Tesla settles class action lawsuit over 'dangerous' Autopilot system

    Fri, 25 May 2018 21:05:46 +0800

    Tesla on Thursday reached an agreement to settle a class action lawsuit with buyers of its Model S and Model X cars who alleged that the company's assisted-driving Autopilot system was "essentially unusable and demonstrably dangerous."

  • Fiat Chrysler recalls 4.8 million US vehicles for cruise control defect

    Sat, 26 May 2018 00:05:28 +0800

    Fiat Chrysler Automobiles NV is recalling 4.8 million U.S. vehicles over a defect that could prevent drivers from deactivating cruise control, the company said on Friday, warning owners not to use the function until they get software upgrades.

  • UK pound hits 6-month low against Singapore dollar

    Fri, 25 May 2018 20:11:16 +0800

    LONDON: The British pound fell to a six-month low against the Singapore dollar on Friday (May 25), hindered by worries over Brexit and further signs of sustained weakness in Britain's economy. The pound fell to as low as  £1 to S$1.7851, the lowest since S$1.7784 on Nov 28 last year. Sterling had ...

  • Exclusive: China Inc tightens reins on debt, raises specter of slowdown

    Fri, 25 May 2018 19:30:21 +0800

    Debt growth for Chinese companies has slowed to the lowest rate in more than a decade, according to Reuters analysis, which could provide relief for policymakers worried about the fallout from years of loose lending practices across the economy.

  • Why experts say we should welcome and not worry about the Robot Revolution

    Fri, 25 May 2018 19:50:52 +0800

    SINGAPORE: Not a day goes by without a new report about the advancements in artificial intelligence (AI), and how it’s making inroads into the workplace. Just this week, it was reported that AI is transforming the legal sector by taking over mundane tasks such as data analysis and the sorting of ...

  • Saudi minister Falih says Aramco IPO likely in 2019

    Fri, 25 May 2018 18:50:35 +0800

    Saudi Arabia is most likely to hold the initial public offering (IPO) of oil giant Aramco in 2019, Energy Minister Khalid al-Falih said on Friday, confirming a delay from the initial plan to list the company this year.

  • New privacy law forces some US media offline in Europe

    Fri, 25 May 2018 18:40:47 +0800

    Major US media outlets including the LA Times and Chicago Tribune were forced to shutter their websites in parts of Europe on Friday following the roll out of stringent new privacy regulations by the European Union.

  • Daimler threatened with recall of over 600,000 diesel models: Spiegel

    Fri, 25 May 2018 18:20:21 +0800

    Daimler faces a recall order for more than 600,000 diesel-engine vehicles including C-Class and G-Class models because of suspected emissions manipulation, German magazine Der Spiegel reported on Friday.

  • ComfortDelGro parts ways with Uber

    Sat, 26 May 2018 00:13:21 +0800

    SINGAPORE: The strategic agreement that ComfortDelGro and Uber entered into late last year has been dissolved, the taxi operator announced in a news release on Friday (May 25).  ComfortDelGro will no longer be acquiring a 51 per cent stake in Uber's wholly-owned rental subsidiary in Singapore ...

  • Hyflux's restructuring not indicative of riskier bank exposures to Singapore power generators: Moody’s

    Fri, 25 May 2018 16:51:00 +0800

    SINGAPORE: The restructuring of water treatment firm Hyflux is credit-negative for its creditors, said Moody's Investors Service in a research report released on Friday (May 25).  However, that does not imply an industry-wide deterioration in the asset quality of bank loans to other large power ...

  • Bayer cuts Monsanto synergy target by US$300 million due to divestments

    Fri, 25 May 2018 17:10:30 +0800

    Bayer said that combining with takeover target Monsanto will have positive synergy effects of about US$1.2 billion on core earnings, less than the US$1.5 billion initially targeted because more divestments were needed to get antitrust approval.

  • Russia's standards agency says informed about recall of 4,794 Mercedes cars

    Fri, 25 May 2018 15:30:41 +0800

    Russia's standards agency said on Friday it had been informed about the voluntary recall of 4,794 Mercedes-Benz cars produced by German carmaker Daimler and sold from 2014 to 2017.

  • Meghan Markle makes gold sales sparkle

    Fri, 25 May 2018 13:16:03 +0800

    NEW YORK: The Meghan Markle effect has spread to yellow gold jewellery, helping boost United States sales in the first quarter of 2018 with further gains expected, jewellers said. The first three months of the year were the strongest first quarter for gold jewellery demand in the United States ...

  • Tax-dodge strategists probe loopholes in new US law, IRS wary

    Fri, 25 May 2018 23:17:56 +0800

    Tax experts for global corporations are hot on the trail of loopholes in the sweeping tax law approved in December by President Donald Trump and Republicans in the U.S. Congress.

  • Singapore's manufacturing output rose 9.1% in April; continues expansion

    Fri, 25 May 2018 16:13:27 +0800

    SINGAPORE: Singapore’s manufacturing output rose 9.1 per cent in April from a year ago, according to figures released by the Economic Development Board (EDB) on Friday (May 25). April's jump continues an upward trend after manufacturing output increased by a revised 6.1 per cent year-on-year in ...

  • 5.4 million passengers passed through Changi Airport in April

    Fri, 25 May 2018 11:20:38 +0800

    SINGAPORE: Changi Airport handled 5.43 million passenger movements in April, a 5.1 per cent year-on-year increase, said Changi Airport Group (CAG) on Friday (May 25). Passenger traffic to and from Europe increased by 13 per cent and this was boosted by travel on new services to London and Munich ...

  • US Commerce Secretary Ross to visit China June 2-4 to discuss trade: Xinhua

    Fri, 25 May 2018 11:06:03 +0800

    U.S. Commerce Secretary Wilbur Ross will visit China from June 2 to 4 to discuss Sino-U.S. trade relations, the official Xinhua News Agency said on Friday.

  • Asian shares shaky after Trump ditches summit with North Korea

    Fri, 25 May 2018 09:23:29 +0800

    Asian shares were slightly weaker on Friday amid fragile market sentiment after U.S. President Donald Trump called off a key summit with North Korea, though investor concerns were softened by expectations the two countries may still continue dialogue.

  • Mexico says will not renegotiate NAFTA under pressure, but makes new offer

    Fri, 25 May 2018 08:43:37 +0800

    Mexico will not buckle to pressure to conclude the long-stalled renegotiation of NAFTA, President Enrique Pena Nieto's spokesman said on Thursday, but a source said the country made a new offer after the United States launched a probe exploring auto tariffs.

  • Google tries to ease tensions on eve of new EU privacy law

    Fri, 25 May 2018 09:35:29 +0800

    Alphabet Inc's Google sought to ease online publisher concerns on Thursday about the effects European data privacy rules going into effect in just a few hours will have on their ad business.

  • US jury awards Apple US$539 million in Samsung patent retrial

    Fri, 25 May 2018 09:35:26 +0800

    REUTERS: After nearly five days of deliberations, a U.S. jury on Thursday said Samsung Electronics Co Ltd should pay US$539 million to Apple Inc for copying patented smartphone features, according to court documents, bringing a years-long feud between the technology companies into its final stages ...

  • Jury orders Samsung to pay Apple US$533m in iPhone case

    Fri, 25 May 2018 06:36:56 +0800

    SAN JOSE: A federal court jury on Thursday (May 24) ordered Samsung to pay Apple US$533 million or copying iPhone design features in a patent case dating back seven years. Jurors tacked on an additional US$5 million in damages for a pair of patented functions. The award appeared to be a bit of a ...

  • Exclusive: US bill would force tech companies to disclose foreign software probes

    Fri, 25 May 2018 05:50:15 +0800

    U.S. tech companies would be forced to disclose if they allowed American adversaries, like Russia and China, to examine the inner workings of software sold to the U.S. military under proposed legislation, Senate staff told Reuters on Thursday.

  • Brazil close to standstill as truckers press on with strike

    Fri, 25 May 2018 05:20:46 +0800

    BRASILIA: Brazil appeared on the verge of a standstill on the fourth day of a nationwide truckers' strike on Thursday (May 24) as road blockades caused severe shortages of fuel and food, despite a move by the state-owned oil company to defuse the crisis. Airports and gas stations were running out ...

  • Trump's North Korea move sees Wall Street slide

    Fri, 25 May 2018 04:50:38 +0800

    NEW YORK: A volatile day on Wall Street saw US stocks swing to a negative finish after US President Donald Trump cancelled a planned June summit with North Korean leader Kim Jong Un. The major indices rebounded off the day's lows but were still negative due to falling oil prices and persistent ...

  • J&J must pay US$4 million in punitive damages in latest asbestos cancer trial

    Fri, 25 May 2018 03:25:28 +0800

    A California jury on Thursday ordered Johnson & Johnson to pay US$4 million in punitive damages to a woman who said she developed cancer after being exposed to asbestos in the company's baby powder, pushing the total damages award in the case to US$25.7 million.

  • Netflix's stock market value eclipses Disney's for first time

    Fri, 25 May 2018 02:25:34 +0800

    Netflix's stock market value ballooned to a record US$153 billion on Thursday and eclipsed Walt Disney Co for the first time, making it the world's top entertainment company and underscoring a monumental shift by viewers away from cinemas and cable television.

  • Electric vehicles seen driving cobalt crunch by mid-2020s

    Fri, 25 May 2018 02:25:28 +0800

    The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in ...

  • Kroger's meal kit deal reheats Blue Apron shares

    Fri, 25 May 2018 01:30:21 +0800

    Shares of Blue Apron climbed on Thursday after Kroger said it was buying Home Chef to broaden its menu in the home meal kit market while stock of Calavo Growers, whose unit partnered with Kroger on another meal kit service, slumped.

  • UAW accuses Musk of threatening Tesla workers over unionization

    Fri, 25 May 2018 01:55:50 +0800

    The United Auto Workers International Union (UAW) has filed a complaint accusing Tesla Inc Chief Executive Elon Musk of illegally threatening to take away benefits from workers who join the union.

  • European stocks fall on North Korea, new Trump trade worries

    Fri, 25 May 2018 00:20:38 +0800

    LONDON: Stock markets fell on Thursday (May 24), hit by the decision by US President Donald Trump to call off a planned summit with North Korea, as well as concerns over a new transatlantic trade conflict as the US mulls tariffs on car imports. While share prices in Frankfurt and Paris had been ...

  • US auto import probe fans tariff fears, riles Asia, Europe

    Fri, 25 May 2018 01:55:47 +0800

    A Trump administration investigation of car and truck imports raised the threat on Thursday of renewed conflict over trade policy for an industry that thrives on stability and sent stocks in Asian and European automakers down.

  • About US$1.2 billion in cryptocurrency stolen since 2017: cybercrime group

    Thu, 24 May 2018 23:15:48 +0800

    Criminals have stolen about US$1.2 billion in cryptocurrencies since the beginning of 2017, as bitcoin's popularity and the emergence of more than 1,500 digital tokens have put the spotlight on the unregulated sector, according to estimates from the Anti-Phishing Working Group released on Thursday.

  • Tesla's Musk bashes media, proposes credibility check

    Fri, 25 May 2018 02:45:19 +0800

    Tesla Inc Chief Executive Elon Musk gained the support on Thursday of more than half a million people on Twitter for plans to create a website evaluating journalists' credibility, spurred by his frustration at media reports about the electric car maker.

  • Uber self-driving car failed to recognize pedestrian, brake: US agency

    Thu, 24 May 2018 22:16:14 +0800

    An Uber Technologies Inc self-driving vehicle that struck and killed a woman in Tempe, Arizona in March failed to identify the pedestrian or brake, raising serious questions about the performance of the vehicle, the U.S. National Transportation Safety Board said in a preliminary report released ...

  • German regulator orders recall of diesel-powered Daimler van

    Thu, 24 May 2018 21:35:37 +0800

    FRANKFURT: Germany's road vehicle authority KBA has ordered Daimler to recall its van model Vito 1.6l Diesel Euro 6, saying two of the van's engine control features to reduce exhaust emissions were in breach of regulations. In a statement on Thursday, Daimler said it would appeal the decision and ...

  • Car imports probe gives GM, Ford shares tiny lift

    Thu, 24 May 2018 20:30:44 +0800

    Shares of General Motors and Ford inched only marginally higher before the bell on Thursday after the Trump administration launched a national security probe into car imports which could lead to new tariffs on foreign competitors while also stirring trade tensions.

  • Wall Street dips after Trump cancels North Korea summit; Netflix gains

    Fri, 25 May 2018 05:05:19 +0800

    Worries over U.S. trade protectionism, this time around car imports, weighed on Wall Street's main indexes on Thursday, overshadowing optimism that the Federal Reserve may be more tolerant of rising inflation than previously expected.

  • EU parliament gets Facebook answers after Zuckerberg meeting

    Thu, 24 May 2018 19:30:32 +0800

    The European Parliament distributed on Thursday what it called a first set of written replies from Facebook to oral questions put by lawmakers to CEO Mark Zuckerberg at a meeting in Brussels on Tuesday.

  • Deutsche Bank slashes over 7,000 jobs in major shake-up

    Fri, 25 May 2018 01:07:45 +0800

    FRANKFURT AM MAIN: Germany's largest lender Deutsche Bank said on Thursday (May 24) it will slash over 7,000 jobs globally and dramatically scale back its investment banking activities as it seeks to turn the page on years of losses. The announcement fell on the same day as the bank's annual ...

  • Ezbuy raises US$17.6 million in lastest funding, eyes 'more reliable modes' of localised services

    Thu, 24 May 2018 18:27:46 +0800

    SINGAPORE: Popular shopping and shipping agent ezbuy - which was forced to stop offering some of its services last year after more than 1,000 of its accounts were blocked by Taobao - said on Thursday (May 24) that it has raised US$17.6 million in its latest round of funding, which it intends to use ...

  • Services uptick in Q1 shows growth broadening further in Singapore economy

    Thu, 24 May 2018 18:00:39 +0800

    Economists say the services sector looks poised to make up for lost ground when manufacturing growth eventually tapers due to less favourable base effects.

  • Investor Elliott's stake raises pressure on Thyssenkrupp CEO

    Thu, 24 May 2018 16:55:23 +0800

    FRANKFURT/BERLIN: Activist hedge fund Elliott said on Thursday it would step up pressure on Thyssenkrupp's leadership to revive the German industrial conglomerate's fortunes, confirming it had taken a stake of less than 3 percent. The stake increases the influence of interventionist investors on ...

  • Nestle streamlines R&D to speed up product innovation

    Thu, 24 May 2018 15:35:54 +0800

    Food giant Nestle plans to combine its scientific research operations into a single unit in an attempt to speed up development of new products at a time when competition from smaller rivals is intensifying.

  • P&G to plough US$50 million in Russian plants in 2018

    Thu, 24 May 2018 15:24:30 +0800

    The world's largest consumer goods maker Procter & Gamble plans to invest a further 3 billion roubles (US$48.5 million) in its Russian production facilities this year, a senior company executive overseeing the Russian market told Reuters.

  • EU competition chief Vestager to announce antitrust decision on Thursday

    Thu, 24 May 2018 15:05:45 +0800

    European Commissioner for Competition Margrethe Vestager will hold a news conference on Thursday to announce an antitrust decision, which is expected to be on Gazprom .

  • Westpac Bank rate-rigging conduct 'unconscionable', court rules

    Thu, 24 May 2018 13:53:57 +0800

    Australian banking giant Westpac engaged in "unconscionable conduct" in trying to rig benchmark interest rates four times, but was cleared of market manipulation, a court ruled Thursday.

  • General Electric's power unit fights for growth as wind, solar gain

    Thu, 24 May 2018 17:20:39 +0800

    Vistra Energy Corp and Dominion Energy Inc – which serve about 5.5 million electricity customers in more than a dozen U.S. states – both say they are done building combined-cycle natural gas-fired power plants.

  • Toyota to build fuel cell stack plant, ramp up fuel cell vehicle sales from 2020

    Thu, 24 May 2018 12:55:31 +0800

    Toyota Motor Corp on Thursday said it plans to build a plant to manufacture hydrogen fuel cell stacks, a key component of fuel cell vehicles, as it seeks to mass manufacture hydrogen-powered cars to expand their usage as a zero emissions alternative to gasoline vehicles.

  • Deadly protests land a blow to Indian resources magnate Agarwal's ambitions

    Thu, 24 May 2018 12:55:26 +0800

    Indian billionaire Anil Agarwal often talks about his dream to turn his London-listed company Vedanta Resources into a global resources giant. He has already bought stakes in big mining companies, such as Anglo American Plc, and says he plans to spend at least US$1 billion on investments in Africa.

  • China fines Muji for packaging that lists Taiwan as a country

    Thu, 24 May 2018 12:20:39 +0800

    SHANGHAI: Japanese retailer Muji has been fined 200,000 yuan (US$31,300) in Shanghai for using packaging that lists Taiwan as a country, underscoring China's growing sensitivity to how companies refer to the self-ruled island. This marks the second time Muji has been hit by such criticism from ...

  • Sanctions-hit tycoon Deripaska asks Kremlin to buy some of his aluminium: source

    Fri, 25 May 2018 01:10:35 +0800

    Russian aluminium producer Rusal has asked the Russian government to purchase some of its output, a government source said on Thursday, in an effort to alleviate the pain inflicted by U.S. sanctions.

  • Ride-hailing firm Go-Jek to enter Singapore, other Southeast Asian markets in next few months

    Thu, 24 May 2018 23:19:41 +0800

    SINGAPORE: Indonesian ride-hailing and online payment firm Go-Jek said on Thursday (May 24) it will enter Singapore, Vietnam, Thailand and the Philippines in the next few months, investing US$500 million in its international push. The move will start with ride-hailing services before expanding to ...

  • China says has not promised to cut trade surplus with US by a certain amount

    Thu, 24 May 2018 10:45:21 +0800

    BEIJING: China's Commerce Ministry said on Thursday that it had not pledged to cut the country's trade surplus with the United States by a certain figure, and hopes the United States implements measures promised during trade negotiations as soon as possible. Ministry spokesman Gao Feng made the ...

  • United Air CEO grilled over NRA discount, workers rights at annual meeting

    Thu, 24 May 2018 10:00:20 +0800

    United Airlines executives faced questions about ending its discount for a gun rights group and how it treats its workers at the carrier's annual shareholders meeting on Wednesday.

  • Oil prices drop on potential increase in OPEC output

    Thu, 24 May 2018 09:10:20 +0800

    Oil prices fell on Thursday, pulled down by expectations that OPEC members could step up production in the face of worries over supply from both Venezuela and Iran.

  • Uber shuts Arizona self-driving program two months after fatal crash

    Thu, 24 May 2018 09:05:18 +0800

    SAN FRANCISCO: Uber has shut down its self-driving car operation in Arizona two months after a fatal crash involving one of its vehicles, the company said on Wednesday. Uber Technologies Inc is not shuttering its entire autonomous vehicle program and will focus on limited testing in Pittsburgh ...

  • Singapore exports up 1.1% in Q1 as total trade expands

    Thu, 24 May 2018 11:42:02 +0800

    SINGAPORE: Non-oil domestic exports in Singapore grew 1.1 per cent in the first quarter of 2018, slowing from 10.4 per cent in the previous quarter, according to data released by Enterprise Singapore on Thursday (May 24). Exports of non-electronic products rose by 4.5 per cent over the year in Q1 ...

  • Tariff fears hit car shares, lira back on the rack

    Thu, 24 May 2018 17:20:36 +0800

    Asian shares moved lower on Thursday as investors fretted about new setbacks in U.S.-China trade talks, but negative sentiment was tempered by U.S. Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates.

  • Singapore narrows 2018 growth estimate to 2.5-3.5% as Q1 GDP expands faster than expected

    Thu, 24 May 2018 23:12:53 +0800

    The Ministry of Trade and Industry now expects 2018 growth to be between 2.5 per cent to 3.5 per cent, compared with the previous estimate of between 1.5 per cent and 3.5 per cent.

  • J&J hit with US$21.7 million verdict in another talc asbestos cancer case

    Thu, 24 May 2018 07:20:45 +0800

    Johnson & Johnson and its talc suppliers on Wednesday were hit with a US$21.7 million jury verdict in a lawsuit by a woman who said she developed cancer after being exposed to asbestos in the company's Baby Powder.

  • Wall Street dominance over Europe's struggling banks hits record

    Thu, 24 May 2018 07:05:24 +0800

    Wall Street's dominance over struggling European banks has reached record levels as U.S. firms reap the benefits of booming markets at home, while their transatlantic rivals are trapped in endless restructurings, data showed on Thursday.

  • Starbucks calls anti-bias training part of 'long-term journey'

    Thu, 24 May 2018 07:26:40 +0800

    LOS ANGELES: Starbucks Corp on Wednesday (May 23) revealed details of the employee anti-bias training programme that will take place behind closed doors at 8,000 US company-owned cafes on the afternoon of May 29. Starbucks announced plans to shutter stores and corporate offices to train 175,000 ...

  • Upstart Circles.Life looks to ring in changes in Singapore’s telecoms sector

    Thu, 24 May 2018 06:40:40 +0800

    The mobile virtual network operator points to its cloud-based technology Circles-X as the secret sauce differentiating it from the less nimble full-fledged telcos here, according to co-founder Abhishek Gupta.

  • Singapore maintains 3rd position in world ranking for competitiveness

    Thu, 24 May 2018 06:40:38 +0800

    While Singapore has done well in the area of government efficiency, challenges in the form of high prices and private debt remain.

  • Commentary: US in a bind over two contradictory goals of China trade talks

    Thu, 24 May 2018 06:30:40 +0800

    Washington cannot have both a better investment regime in China and a lower trade deficit, says one observer at the Financial Times.

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