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Published: Sat, 23 September 2017 06:26:16 +0800


Investor group seeks probe into SEC hack, urges data rules delay

Sat, 23 September 2017 06:20:56 +0800

A global investor group on Friday called for an independent investigation into a cyber breach at the U.S. Securities and Exchange Commission (SEC) and urged the regulator to delay new data-gathering rules until it could assure investors that its computer systems were secure.

US stocks little changed as Trump, Kim exchange threats

Sat, 23 September 2017 04:51:35 +0800

NEW YORK: Wall Street stocks finished a choppy day little changed as investors weighed how seriously to take increasingly heated rhetoric between US President Donald Trump and North Korea's Kim Jong-Un. Trump, who threatened earlier this week to "totally destroy" North Korea, went after the ...

Facebook trial over Class C stock canceled: Delaware court

Sat, 23 September 2017 03:25:15 +0800

Facebook Inc's trial over a shareholder lawsuit opposing the company's stock reclassification has been canceled, according to a clerk in Delaware's Court of Chancery.

Wall Street lukewarm on Chipotle's new 'queso' amid customer scorn

Sat, 23 September 2017 02:50:17 +0800

Chipotle Mexican Grill Inc's new "queso" cheese sauce is going over better on Wall Street than on Twitter, where one person called it a "crime against cheese."

Native American tribe moves to dismiss Allergan patent case

Sat, 23 September 2017 03:10:10 +0800

REUTERS: A Native American tribe holding patents for drugmaker Allergan Plc on Friday moved to dismiss a case brought by generic drug company Mylan NV challenging the patents. In a filing to the U.S. Patent Trial and Appeal Board, the Saint Regis Mohawk Tribe asked that Mylan's case seeking to ...

Russia firm unveils 'surveillance-proof' smartphone

Sat, 23 September 2017 01:37:23 +0800

For Russians who fear that someone may be eavesdropping on their phone conversations, leading IT entrepreneur Natalya Kaspersky says she has a solution.

Sri Lanka in talks with two Chinese firms for US$3 billion refinery

Sat, 23 September 2017 01:27:31 +0800

COLOMBO: Sri Lanka is in talks with two Chinese companies about investing up to US$3 billion to build in a new refinery at its Chinese-controlled port, a top government official said on Friday. Sri Lanka wants to build a new refinery in its southern Hambantota port, where China Merchants Port ...

Ryanair crisis exposes low-cost scramble for senior pilots

Sat, 23 September 2017 00:25:22 +0800

Ryanair blames an internal "cock up", but its cancellation of 2,000 flights exposes the struggle that low-cost carriers face as they risk growing faster than their ability to recruit experienced pilots.

'Unfit' Uber stripped of London license

Fri, 22 September 2017 23:50:10 +0800

London's transport regulator on Friday stripped Uber of its license to operate from the end of the month, affecting over 40,000 drivers in a huge blow to the taxi app.

Diesel's disgrace brings hybrids-for-all in race to electrify

Fri, 22 September 2017 23:30:11 +0800

Carmakers squeezed between carbon emissions cuts and falling sales of fuel-efficient diesels have used the Frankfurt auto show to spotlight a future generation of electric cars that will largely come too late to help them out of their bind.

Time Inc in talks to sell assets; warns on third-quarter ad revenue softness

Fri, 22 September 2017 23:05:44 +0800

Time Inc said on Friday it was looking to sell several assets, including Time Inc UK, and warned it experienced more-than-anticipated softness in both print and advertising revenue during the current quarter.

Britain's May calls for post-Brexit transition in single market

Sat, 23 September 2017 01:24:33 +0800

FLORENCE, Italy: Prime Minister Theresa May set out a plan on Friday (Sep 22) to retain full access to the EU's single market for two years after Brexit to try to reassure business and reset the tone of stalled negotiations with Brussels. But her proposals for such a transition, for meeting ...

VW moves to secure cobalt supplies in shift to electric cars

Fri, 22 September 2017 21:44:15 +0800

Germany's Volkswagen is moving to secure long-term supplies of cobalt, a vital component of rechargeable batteries, as the group accelerates its ambitious shift to electric cars.

Maritime firms need to invest in emerging technologies: Lam Pin Min

Fri, 22 September 2017 23:03:30 +0800

The International Maritime Centre 2030 Advisory Committee outlined five key strategies to enhance the vibrancy and competitiveness of Singapore as a hub port and international maritime centre.

Volkswagen chairman doesn't rule out outsider as next CEO

Fri, 22 September 2017 20:40:16 +0800

HAMBURG: Volkswagen's supervisory board does not rule out doing away with a custom under which the carmaker's top executive must be a company veteran, Chairman Hans Dieter Poetsch said. Current Chief Executive Matthias Mueller, whose contract runs through 2020, has been with the Volkswagen (VW) ...

Phillips 66 Partners to buy Bakken assets from Phillips 66

Fri, 22 September 2017 23:00:17 +0800

Phillips 66 Partners LP said on Friday it would buy assets from refiner Phillips 66 in a deal valued at US$2.4 billion, including debt.

JPMorgan picks Warsaw for new operations center: Polish deputy PM

Fri, 22 September 2017 19:50:21 +0800

U.S. bank JPMorgan Chase has chosen Warsaw to host a new global operations center that will employ several thousand people over the next couple of years, Polish Deputy Prime Minister Mateusz Morawiecki said on Friday.

Wall Street slips on healthcare, North Korea, earnings angst

Sat, 23 September 2017 03:25:11 +0800

U.S. stock index futures were slightly lower on Friday after tensions between North Korea and the United States escalated again, pushing investors to safe-haven assets.

Fly me to the Moon: For some, lunar village takes shape

Fri, 22 September 2017 19:34:37 +0800

By 2040, a hundred people will live on the Moon, melting ice for water, 3D-printing homes and tools, eating plants grown in lunar soil, and competing in low-gravity, "flying" sports.

Exclusive: T-Mobile, Sprint close to agreeing deal terms - sources

Fri, 22 September 2017 20:40:13 +0800

T-Mobile US Inc is close to agreeing tentative terms on a deal to merge with peer Sprint Corp , people familiar with the matter said, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers.

Without US, 11 nations in TPP inch closer to a deal

Fri, 22 September 2017 19:25:11 +0800

The 11 nations remaining in the Trans-Pacific Partnership after the United States withdrew have inched closer to a comprehensive deal, offering hope that major countries can maintain free trade in the face of U.S. protectionism, a negotiator said on Friday.

South Africa's business lobby group suspends KPMG over Gupta scandal

Fri, 22 September 2017 18:30:13 +0800

A South African business lobby group suspended KPMG from membership on Friday, citing the "gravity" of its conduct over the auditor's work for business friends of President Jacob Zuma.

GE nears sale of its industrial unit to ABB: Bloomberg

Fri, 22 September 2017 18:55:10 +0800

General Electric Co has neared the sale of its industrial solutions unit to ABB Ltd for US$2.5 billion to US$3 billion, Bloomberg reported on Friday.

Uber stripped of London licence, plans to appeal

Sat, 23 September 2017 00:09:27 +0800

London stripped Uber on Friday of its licence to operate from the end of next week in a huge blow to the taxi service and 3.5 million users in one of the world's wealthiest cities.

Citigroup targets Belt and Road to boost China revenue

Fri, 22 September 2017 17:05:15 +0800

Citigroup Inc expects to boost its revenue growth in China by tapping into opportunities presented by Beijing's Belt & Road initiative, the bank's China chief said.

Flood, fix and flip: Houston housing investors see profit in Harvey's wake

Fri, 22 September 2017 13:15:18 +0800

Addressing a real estate conference in flood-ravaged Houston this month, longtime investor Ray Sasser detailed his strategy: buy up to 50 flooded homes at deep discounts, then fix and flip them for a hefty profit.

Poverty in paradise: The dark side of Indonesia's new tourism hope

Fri, 22 September 2017 13:00:45 +0800

A tableau of white sandy beaches, colourful coral reefs and turquoise water, the islands of Raja Ampat are set to be Indonesia's next tourism hotspot -- but locals fear the government is failing both them and the environment in its development push.

CPF interest rates to remain unchanged from October to December

Fri, 22 September 2017 12:50:39 +0800

SINGAPORE: All Central Provident Fund (CPF) members will continue to receive up to 3.5 per cent interest on their Ordinary Account, and up to 5 per cent interest on their Special, Medisave and Retirement Accounts from Oct 1 to Dec 31. These rates include an additional 1 per cent in interest paid ...

S&P lowers Hong Kong credit rating following China cut

Fri, 22 September 2017 12:09:29 +0800

Standard & Poor's on Friday slashed Hong Kong's top-notch credit rating, a day after lowering China's, warning of potential spillover risks the mainland's ballooning debt pile.

National skills framework to develop logistics sector launched

Fri, 22 September 2017 23:07:10 +0800

SINGAPORE: A new national skills framework for Singapore's logistics sector was launched on Friday (Sep 22). The framework identifies job roles, career pathways, and existing and emerging skills required in logistics, that can help the sector grow. Some of the career pathways identified include ...

Boeing sees growth in demand for airplanes in Southeast Asia

Fri, 22 September 2017 12:30:08 +0800

Boeing Co said it sees demand for new airplanes worth US$650 billion in Southeast Asia over the next two decades.

Sun Rosier condo near Bartley Road fetches S$271m in en-bloc sale

Fri, 22 September 2017 14:26:50 +0800

SINGAPORE: The Sun Rosier condominium off Bartley Road has been sold for S$271 million in the latest en-bloc sale in Singapore. The freehold development was snapped up by SingHaiyi Group, which submitted a bid that was S$36 million above the asking price of S$235 million. Owners of the 78 units ...

US Commerce chief: US content falling in Mexican, Canadian imports

Fri, 22 September 2017 12:05:23 +0800

U.S. Commerce Secretary Wilbur Ross said on Thursday a new study by his department shows that U.S. value-added content is declining for manufactured goods imported from Mexico and Canada, arguing that this required tougher rules of origin in the North American Free Trade Agreement.

Apple's iPhone 8 sees muted launch in Asia

Fri, 22 September 2017 13:25:10 +0800

Apple Inc's iPhone 8 launch in Sydney, one of the first cities to access the product in Australia, saw a bleak turnout as fans held out for the soon-to-be-released premium iPhone X.

North Korea jitters ease as focus moves to Brexit speech

Fri, 22 September 2017 18:25:13 +0800

Jitters over a fresh exchange of barbs between North Korea and the United States eased in Europe on Friday as strong economic data supported European stocks, and investors' focus turned to a planned speech by Britain's prime minister on Brexit.

Oil prices steady ahead of OPEC meeting on supply cut extension

Fri, 22 September 2017 08:55:13 +0800

Oil prices held steady in early Asian trade on Friday as the market waited to see whether major oil producers would extend supply cuts beyond March at a meeting in Vienna later in the day.

Despite tough talk, Canada seen unlikely to walk away from NAFTA

Fri, 22 September 2017 13:10:23 +0800

The United States will present new text proposals and begin to weigh into thornier issues of the North American Free Trade Agreement in the third round of negotiations starting in Ottawa on Saturday, U.S. chief negotiator John Melle said on Thursday.

UK banks to check immigration status from January

Fri, 22 September 2017 07:10:38 +0800

LONDON: UK banks will start carrying out immigration checks on all account holders from January, part of a crackdown on those in the country illegally, the government said on Thursday Sep 21). "From January banks and building societies will be required to carry out regular checks on the ...

Tiffany names Roger Farah as chairman in latest management shakeup

Fri, 22 September 2017 06:10:11 +0800

Luxury jeweler Tiffany & Co on Thursday named Roger Farah as chairman, the latest management shakeup where outsiders have been brought in to give the iconic company a new look.

Dow streak of records ends as US stocks fall

Fri, 22 September 2017 04:40:38 +0800

NEW YORK: The Dow's streak of seven straight records ended on Thursday (Sep 21) with analysts citing profit-taking and anxiety over the Federal Reserve's moves to tighten monetary policy. Investors were in a more skittish mood after pushing both the Dow and S&P 500 to fresh records on Wednesday ...

Exclusive: Persistent rail service disruptions dog CSX customers

Fri, 22 September 2017 03:50:14 +0800

CSX Corp customers, including chemical, automotive and steel producers, are still battling delays and congestion despite top executives' assurances that the railroad has moved past service woes that plagued its system during the summer, people familiar with the situation said.

Yellen's stock rises as she leads Fed from crisis-era policy

Fri, 22 September 2017 01:55:15 +0800

From her early days as Federal Reserve chair, Janet Yellen has been the target of criticism from Republicans worried that the central bank's massive bond-buying programs and near-zero interest rates engineered by her predecessor would be the ruin of the country.

Brazil police formally accuse JBS Batista brothers of insider trading

Fri, 22 September 2017 01:25:19 +0800

Brazil's federal police on Thursday formally asked prosecutors to bring charges against brothers Wesley and Joesley Batista, the owners of meatpacker JBS SA , for insider trading.

Apple fans stay the night to be first to get iPhone 8 and 8 Plus

Fri, 22 September 2017 01:12:47 +0800

SINGAPORE: More than 80 diehard Apple fans descended on Singapore’s only Apple Store on Thursday evening (Sep 21) to queue overnight for the new iPhone 8 and iPhone 8 Plus. This is the first time that the Apple Store in Orchard is hosting a major launch. Around closing time at 10pm, workers ...

Mercedes pumps US$1b into US e-car plant

Fri, 22 September 2017 00:19:18 +0800

FRANKFURT AM MAIN: German luxury car manufacturer Mercedes-Benz said on Thursday (Sep 21) it would invest US$1 billion in an Alabama factory as it prepares for electric vehicle production in the United States. "We are significantly growing our manufacturing footprint here in Alabama ... We will be ...

Dollar slips back against euro after Fed-fuelled gains

Fri, 22 September 2017 00:10:39 +0800

LONDON: The dollar fell back against the euro on Thursday (Sep 21) but firmed against the yen, as markets assessed the Federal Reserve's outlook for US interest rates. The day before, the dollar had rallied against both main rivals and the Dow reached a fresh record high after the US central bank ...

Global trade 'rebounds strongly' in first half of 2017: WTO

Fri, 22 September 2017 00:01:29 +0800

GENEVA: The World Trade Organisation on Thursday (Sep 21) boosted its forecast for global trade growth in 2017 as commerce rebounded strongly, but cautioned that major threats could still derail the positive trajectory. The better outlook was driven by improved trade flows within Asia and stronger ...

Hack of Wall Street regulator rattles investors, lawmakers

Fri, 22 September 2017 04:50:11 +0800

Wall Street's top regulator faced questions on Thursday about its defenses against cyber criminals after admitting hackers breached its electronic database of corporate announcements and may have used it for insider trading.

Daimler joins rush to add more North American auto plants: report

Thu, 21 September 2017 22:10:12 +0800

DETROIT: U.S. automakers are facing mounting pressure amid slowing demand in the country, as Asian and European automakers aggressively ramp up vehicle production in North America, including a new investment by Daimler AG. In the latest move, German automaker Daimler plans to spend US$1 billion to ...

Wall St set to open lower after Fed's hawkish stance

Thu, 21 September 2017 20:50:11 +0800

REUTERS: U.S. stocks looked set to open slightly lower on Thursday, a day after the Federal Reserve signaled it could raise interest rates for the third time this year despite low inflation and disclosed plans to shrink its balance sheet. The Fed, as expected, said it would begin to reduce its ...

Wells Fargo CEO to testify before Senate as questions linger over scandal

Thu, 21 September 2017 23:50:21 +0800

Tim Sloan, the chief executive officer of Wells Fargo , is due to testify before the Senate Banking Committee on October 3, said sources familiar with the scheduled meeting.

US jobless claims fall despite Hurricanes Harvey and Irma

Fri, 22 September 2017 07:14:33 +0800

WASHINGTON: New claims for US jobless benefits fell for the second week in a row despite the massive economic disruptions from back-to-back hurricanes, Labour Department reported on Thursday (Sep 21). The decrease suggested September job creation may not suffer as badly as feared from the ...

EU eyes solo move to increase tax on online giants, risking US anger

Thu, 21 September 2017 20:25:16 +0800

The European Commission said on Thursday it may seek to implement tax reform to raise more revenue from online giants without the backing of the United States and other rich nations, in a move that could spark a new transatlantic dispute.

SEC says hackers may have traded using stolen insider information

Thu, 21 September 2017 19:50:12 +0800

The top U.S. markets regulator said on Wednesday that hackers accessed its corporate disclosure database and may have illegally profited by trading on the insider information stolen.

Road to electric car paradise paved with handouts

Thu, 21 September 2017 19:59:01 +0800

The Norwegian island of Finnoey has the highest density of electric cars in the world. The reason? They are exempt from the US$6,000-a-year toll charges for the tunnel to the mainland.

Carlyle targets first-close of new Asia buyout fund at over US$4 billion: sources

Thu, 21 September 2017 18:50:18 +0800

Carlyle Group is targeting the first closing of a new Asia buyout fund within the next couple of months at over US$4 billion, three people familiar with the matter said, bulking up in a region that has become a key market for global funds.

ECB may ask fintech banks to hold bigger buffers

Thu, 21 September 2017 18:55:26 +0800

High-tech banks looking to enter the fintech zone may be asked to hold bigger liquidity and capital buffers due to the unique nature of their risks, the European Central Bank said in draft licensing guidelines on Thursday.

Toys 'R' Us plans holiday hires including toy demonstrators

Thu, 21 September 2017 18:05:15 +0800

Toys "R" Us Inc, the U.S. toy retailer that filed for bankruptcy protection this week, said on Thursday it is hiring part-time seasonal workers to staff its stores for the holidays, including for a new position of toy demonstrator.

China's debt downgraded by second ratings agency

Thu, 21 September 2017 19:49:15 +0800

Standard & Poor's slashed China's credit rating on Thursday, warning that a prolonged period of debt growth had raised "economic and financial risks".

Dollar extends yen gains in Asia as Fed, BoJ diverge

Thu, 21 September 2017 17:50:39 +0800

HONG KONG: The dollar built on gains against the yen on Thursday (Sep 21) after the Federal Reserve unveiled plans to wind down its crisis-era stimulus and hinted at another interest rate hike before the end of the year. Fed boss Janet Yellen said the world's biggest economy was "performing well" ...

Ryanair CEO says may force pilots to change holiday plans

Thu, 21 September 2017 17:40:58 +0800

Ryanair is considering forcing 500 pilots to change their holiday plans to avoid risking additional flight delays, Chief Executive Michael O'Leary said on Thursday.

Bank of Japan pushes on with stimulus as Fed eyes rate hike

Thu, 21 September 2017 17:45:43 +0800

Japan's central bank pressed ahead with its ultra-loose monetary policy Thursday on the back of an improving economy, as its overseas counterparts start to turn off the stimulus taps.

Nestle to cut jobs at French skin health R&D centre

Thu, 21 September 2017 17:38:54 +0800

Nestle said it plans to cut up to 450 jobs at a research and development center for its skin health business Galderma in southern France, as it seeks to make the underperforming unit more efficient.

Lufthansa CEO puts focus on 38 wet lease planes in Air Berlin battle

Thu, 21 September 2017 15:05:12 +0800

Lufthansa's bid for Air Berlin assets is focused on securing the 38 crewed planes it currently leases from the insolvent carrier and it is interested in a further 20 to 40 planes, Lufthansa's chief executive said.

China's Baidu launches US$1.5 billion autonomous driving fund

Thu, 21 September 2017 14:55:14 +0800

Chinese search engine Baidu Inc announced a 10 billion yuan (US$1.52 billion) autonomous driving fund on Thursday as part of a wider plan to speed up its technical development and compete with U.S. rivals.

Capitaland Commercial Trust to buy Marina Bay's Asia Square Tower 2 building for S$2.09b

Thu, 21 September 2017 22:58:03 +0800

SINGAPORE: CapitaLand Commercial Trust (CCT), Singapore’s largest office real estate investment trust, is acquiring Asia Square Tower 2 building at Marina Bay for a property value of S$2.09 billion. CCT made the announcement on Thursday (Sep 21) afternoon, following a trading halt of the REIT's ...

What is at stake for Uber in US bribery probe?

Thu, 21 September 2017 13:15:30 +0800

A U.S. bribery investigation at ride-hailing company Uber Technologies Inc will likely go on for a year or more and could lead to snowballing legal and compliance costs if lawyers find systemic problems.

Avis, Hertz shares rise but remain in short-seller cross-hairs

Thu, 21 September 2017 13:10:29 +0800

Shares of U.S. car-rental companies Avis Budget Group Inc and Hertz Global Holdings Inc have driven out of the ditch in recent weeks, aided in part by storms that devastated the southern United States.

SP Group inks deals with international start-ups to test compatibility for solar technologies

Thu, 21 September 2017 12:50:38 +0800

SINGAPORE: SP Group has signed agreements for pilot projects with two international start-ups to test the technical viability and compatibility of solar technologies for Singapore's climate as well as grid monitoring solutions, the energy group announced on Thursday (Sep 21). The Group will ink ...

Changi Airport passenger traffic up in August

Thu, 21 September 2017 12:00:39 +0800

Changi Airport registered 5.27 million passenger movements last month, a 7.0 per cent increase compared to August last year.

Google bets anew on smartphones, pays US$1.1b for HTC's Pixel division

Thu, 21 September 2017 21:41:36 +0800

Alphabet Inc's Google is set to announce a deal to acquire part of Taiwanese firm HTC Corp's smartphone operations for about US$1 billion, a source with direct knowledge of the matter said on Thursday.

Toshiba, keen to seal US$18b chips sale, wrestles with last-minute delays

Thu, 21 September 2017 15:55:37 +0800

Japan's Toshiba Corp is locked in last minute discussions over "key issues" with the would-be buyers of its $18 billion memory chip business led by U.S. private equity firm Bain, potentially delaying a formal agreement on the sale.

Singapore’s Quann signs on as Google Cloud’s cybersecurity partner in Asia Pacific

Thu, 21 September 2017 10:20:39 +0800

Quann, formerly known as e-Cop, will offer services such as security architecture assessments, data penetration and incident response management for Google Cloud.

Plan to ease US firearm export rules may relieve gunmakers facing sales slump

Thu, 21 September 2017 10:20:20 +0800

A move by the Trump administration to make it simpler to sell small arms abroad may provide some relief to gun makers American Outdoor Brands and Sturm Ruger & Company in an industry grappling with a deep sales slump since the election of President Donald Trump.

Western Digital takes legal step to stop Toshiba memory investment

Thu, 21 September 2017 09:05:13 +0800

Western Digital Corp filed its latest legal action against joint-venture chip partner Toshiba Corp for moving to invest in a new flash memory production line without its help, the U.S. company said on Wednesday.

Fed's 'Great Unwinding' lifts dollar, yields and bank stocks

Thu, 21 September 2017 17:10:18 +0800

The U.S. dollar shone while Asian shares slipped slightly on Thursday after the U.S. Federal Reserve announced a plan to start shrinking its balance sheet and signaled one more rate hike later this year.

GE to sell corporate jets in cost-cutting move

Thu, 21 September 2017 07:30:40 +0800

NEW YORK: General Electric plans to sell its corporate jets in a cost-cutting move amid sluggish activity in key industrial divisions, a spokesperson said on Wednesday (Sep 20). "As we have said, we are executing on a plan to take out US$2 billion in cost by the end of 2018," the GE spokesperson ...

Australia's CBA sells life insurance arm to AIA for US$3b

Thu, 21 September 2017 07:30:39 +0800

SYDNEY: Australia's biggest bank, the Commonwealth, on Thursday (Sep 21) announced the sale of its Australian and New Zealand life insurance business to AIA for Aus$3.8 billion (US$3.0 billion). The lender said the sale of CommInsure Life and Sovereign to the Hong Kong-listed firm includes a 20 ...

Albertsons buys meal-kit delivery provider Plated

Thu, 21 September 2017 06:45:10 +0800

Albertsons Cos Inc , one of America's biggest supermarket chains, said on Wednesday it would buy meal-kit delivery service Plated, as it looks to attract more customers to its stores amid increased competition.

Google likely to buy stake in Taiwan smartphone maker HTC: Report

Thu, 21 September 2017 10:13:20 +0800

SAN FRANCISCO: Google is set to announce it is buying part of Taiwan-based smartphone manufacturer HTC, the Wall Street Journal reported on Wednesday (Sep 20). The deal for HTC's smartphone design unit would give the US tech giant more control of its mobile handset hardware as it seeks to bolster ...

Apple shares slip on smartwatch reviews

Thu, 21 September 2017 05:50:38 +0800

SAN FRANCISCO: Apple shares slipped on Wednesday (Sep 20) after mixed reviews of its latest smartwatch and amid concerns pre-orders of coming iPhone 8 models were lagging. Apple Watch Series 3 set to hit the market on Friday boasts the ability to connect directly to telecommunications networks to ...

FedEx raises TNT integration costs by US$75 million: filings

Thu, 21 September 2017 06:40:11 +0800

Package delivery company FedEx Corp said on Wednesday a June cyber attack on its Dutch unit will continue to hurt revenue through its second fiscal quarter and fiscal full-year 2018 and force bigger investments in information technology.

Dow, S&P 500 end at records as Fed decision lifts bank stocks

Thu, 21 September 2017 05:45:48 +0800

NEW YORK: The Dow finished at its seventh straight record on Wednesday (Sep 20) with banking shares rallying after the Federal Reserve kept alive the chance of a December interest rate increase. The Dow Jones Industrial Average climbed 41.79 points (0.19 per cent) to 22,412.59. The broad-based S ...

House Finance Committee delves into unusual Equifax options trades: CNBC

Thu, 21 September 2017 05:10:24 +0800

The House Financial Services Committee is seeking information about certain Equifax Inc options trades made weeks before the credit reporting company disclosed a data breach, according to CNBC report on Wednesday.

Tesla working with AMD to develop chip for self-driving car: CNBC

Thu, 21 September 2017 05:00:11 +0800

Electric carmaker Tesla Inc is working with Advanced Micro Devices Inc to develop its own artificial intelligence chip for self-driving cars, CNBC reported on Wednesday, citing a source familiar with the matter.

Toys 'R' Us CEO sees future with smaller shops

Thu, 21 September 2017 04:55:13 +0800

Toys "R" Us Inc will shrink its stores and revamp its bigger outlets through its bankruptcy process, which may end with the company's return to the public markets, Chief Executive David Brandon said on Wednesday.

Dockless bike-share hits US capital, following craze in China

Thu, 21 September 2017 04:30:39 +0800

WASHINGTON: Dockless bike-sharing, a trend which has taken China by storm, arrived in the US capital on Wednesday (Sep 20) with the launch of new services aimed at promoting two-wheeled travel without the hassle of a docking station. China-based giant Mobike and California-based LimeBike each ...

Holiday sales forecasts indicate strong growth for retailers

Thu, 21 September 2017 02:55:15 +0800

Early holiday sales forecasts are indicating a largely stronger season for retailers than last year, helped by higher online sales and increasing spending power due to a strong labor market.

Apple concedes new watch has connectivity glitch

Thu, 21 September 2017 11:33:18 +0800

Reviewers of Apple Inc's latest smartwatch unveiled a week ago were impressed by some of its smartphone features, but several said on Wednesday they did not recommend the device because of connectivity problems and poor battery life.

US Federal Reserve keeps interest rates unchanged

Thu, 21 September 2017 05:56:24 +0800

WASHINGTON: The US Federal Reserve kept its benchmark interest rate unchanged on Wednesday (Sep 20) and announced the end of a crisis-era stimulus programme in a sign the economy is on sound footing and the central bank is ready to get back to business as usual. The Fed statement on the unanimous ...

Fed keeps US rates steady, to start portfolio drawdown in October

Thu, 21 September 2017 07:10:11 +0800

The U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it still expects one more increase by the end of the year despite recent weak inflation readings.

Waymo seeking US$2.6 billion for one trade secret against Uber

Thu, 21 September 2017 01:40:23 +0800

An Uber lawyer on Wednesday said Alphabet Inc's Waymo unit is seeking about US$2.6 billion for the alleged theft of one of several trade secrets in a lawsuit over self-driving cars.

Google close to buying smartphone maker HTC's assets: Bloomberg

Thu, 21 September 2017 01:15:14 +0800

REUTERS: Alphabet Inc's Google is close to acquiring assets of Taiwanese smartphone maker HTC Corp , Bloomberg reported, citing a person familiar with the matter. The Taiwan stock exchange said on Wednesday that HTC shares will be halted from Sept. 21 on a pending news announcement. (http://bit ...

No proof of bribery in Eurofighter deal: Austrian parliament report

Thu, 21 September 2017 01:05:15 +0800

A parliamentary inquiry into Austria's US$2 billion Eurofighter deal found no indications of bribery or that Airbus and its partners illegally influenced Austrian politicians, according to the final report on the matter.

ThyssenKrupp-Tata steel merger sets scene for jobs battle

Thu, 21 September 2017 01:00:40 +0800

FRANKFURT AM MAIN: German heavy industry giant ThyssenKrupp and Indian group Tata agreed on Wednesday (Sep 20) to merge their steel operations in Europe, sending governments and unions scrambling to ward off job cuts. Once the deal is finalised in 2018, the two groups aim for efficiency savings of ...

World markets stall before Fed rate call

Thu, 21 September 2017 01:21:17 +0800

LONDON: The world's stock markets all but froze on Wednesday (Sep 20) as few investors had the nerve to invest fresh money before a long-awaited interest rate call from the Federal Reserve later in the day. "The Fed trumps all else, and with hours to go until the next decision, caution reigns ...

IMF's Lagarde warns US won't meet growth targets amid slow reforms

Wed, 20 September 2017 23:50:41 +0800

WASHINGTON: IMF chief Christine Lagarde warned on Wednesday (Sep 20) that the US will fall short of its ambitious economic growth goals unless it can accelerate promised policy changes, including tax reform. The Trump administration has said it will push US growth to three per cent annually - a ...

US existing home sales in August lowest in a year

Wed, 20 September 2017 23:40:38 +0800

WASHINGTON: Sales of US existing homes fell to the lowest level in a year in August as low inventories left many would-be buyers unable to purchase, according to industry data released on Wednesday (Sep 20). While Hurricane Harvey, which made landfall in southeast Texas on Aug 26, was blamed for ...

BlackRock's Fink says he is committed to gender parity

Wed, 20 September 2017 23:10:26 +0800

BlackRock Inc Chief Executive Larry Fink on Wednesday said he is committed to gender parity and that his company must mirror customers, especially with a large proportion of household wealth managed by women.

General Mills profit misses as US yogurt sales sour

Wed, 20 September 2017 23:15:16 +0800

General Mills Inc reported a smaller-than-expected quarterly profit, hurt by lower sales of its yogurts and cereals in North America.