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Published: Fri, 20 October 2017 00:17:47 +0800


Singapore rated Asia Pacific's top location for data centres: Study

Fri, 20 October 2017 00:10:41 +0800

SINGAPORE: Singapore continues to be Asia Pacific’s top location for operation of data centres, according to a report released by Cushman & Wakefield on Thursday (Oct 19). The study by the real estate services company placed the city-state as the most robust market out of 10 Asian hubs in terms of ...

Tech leads Wall Street's retreat from record high

Thu, 19 October 2017 22:25:09 +0800

REUTERS: Wall Street fell sharply on Thursday, pulling back from record highs, amid a broad decline that was led by technology stocks and disappointing quarterly reports from major companies. Apple dropped 2.4 percent on growing worries about slack demand for the new iPhones. The other high ...

US jobless claims drop to more than 44-year low

Thu, 19 October 2017 20:45:29 +0800

The number of Americans filing for unemployment benefits fell to its lowest level in more than 44 years last week, pointing to a rebound in job growth after a hurricane-related decline in employment in September.

Nissan to suspend domestic production of cars for Japan market

Thu, 19 October 2017 20:45:25 +0800

TOKYO: Nissan Motor Co Ltd is suspending domestic production of vehicles for the Japanese market for at least two weeks to address misconduct in its inspection procedures that led to a major recall, it said on Thursday. Japan's second-largest automaker said it would stop production of domestic ...

Verizon quarterly revenue tops estimates as subscribers rise

Thu, 19 October 2017 20:15:20 +0800

Verizon Communications Inc's quarterly profit met Wall Street analyst estimates as the No. 1 U.S. wireless carrier added subscribers.

Scandal-hit Nissan suspends production for Japan market

Thu, 19 October 2017 19:39:08 +0800

Nissan said Thursday it was suspending all production destined for the local market, as Japan's number-two automaker grapples with a mounting inspection scandal that has already seen it recall some 1.2 million vehicles.

Rosneft's Sechin says no watershed in oil market, US shale oil a risk

Thu, 19 October 2017 19:00:15 +0800

A global deal to cut oil output has not led to a breakthrough on high inventory levels, while an expected rise in U.S. shale oil output may destabilize the market in 2018, the head of Russia's Rosneft, Igor Sechin, said on Thursday.

Unilever takes hit from hurricanes, strong euro

Thu, 19 October 2017 18:31:39 +0800

Unilever, the Anglo-Dutch food and consumer products giant, said Thursday that sales were down in the third quarter, hit by the strong euro and economic fallout from the hurricanes in the United States.

UK retail sales drop as Brexit-fuelled inflation bites

Thu, 19 October 2017 18:30:24 +0800

British retail sales fell more than expected in September, official data showed Thursday, against a backdrop of rising prices largely caused by a Brexit-hit pound.

Unilever sales disappoint as competition bites big brands

Thu, 19 October 2017 18:20:11 +0800

Unilever reported lower-than-expected third-quarter sales, losing market share to smaller competitors and dampening hopes that an aborted takeover offer from Kraft Heinz would spark a swift improvement.

Macron demands trade discussion at EU summit

Thu, 19 October 2017 18:33:25 +0800

French President Emmanuel Macron will urge his sceptical EU counterparts Thursday to put the brakes on free trade agreements or risk the wrath of EU citizens who are increasingly wary of globalisation.

Novartis to shut US generics plant, cut 450 jobs

Thu, 19 October 2017 17:50:20 +0800

Swiss drugmaker Novartis is to cut 450 jobs in the United States over the next two years as it gradually shuts a generics manufacturing plant in Colorado and discontinues some products in the face of intense price pressures.

Airbus A330neo takes off on maiden flight

Thu, 19 October 2017 17:35:08 +0800

Airbus began the maiden flight of its A330neo jetliner, a plane which is an upgraded version of its profitable A330 family and is designed to sharpen competition with the Boeing 787 Dreamliner.

Nissan Motor says CEO Saikawa to brief on uncertified inspection issue

Thu, 19 October 2017 14:55:13 +0800

Nissan Motor Co Ltd said Chief Executive Hiroto Saikawa will hold at news conference 1000 GMT on Thursday to brief on its uncertified inspection scandal.

China biotech's 'coming out party' masks long road ahead

Thu, 19 October 2017 14:15:18 +0800

Investors are betting on China's potential to feed the global pharmaceutical pipeline, putting a multi-billion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West.

AirAsia's move to Changi's Terminal 4 in line with digital airline vision

Thu, 19 October 2017 14:10:38 +0800

SINGAPORE: AirAsia will relocate its operations to Changi Airport’s Terminal 4 on Nov 7, and this is in line with its digital airline vision, it said on Thursday (Oct 19) The budget carrier will be located at Rows 4 and 5 of the terminal, and it will deploy 19 check-in kiosks, 14 auto bag drop ...

Australia's Westpac to refund 200,000 customers for missed benefits

Thu, 19 October 2017 13:45:15 +0800

Australia's Westpac Banking Corp said on Thursday it will pay refunds to about 200,000 customers who should have received cash benefits, as the country's lenders seek to ease concerns about their governance after a series of scandals.

Nestle accelerates restructuring as sales growth stays tepid

Thu, 19 October 2017 16:00:16 +0800

Food group Nestle said it expected its operating margin to slip by 40 to 60 basis points in 2017 due to higher restructuring costs and said full-year organic sales growth should be in line with the 2.6 percent seen in the first nine months. Its underlying margin was set to improve.

Could the 1987 stock market crash happen again?

Thu, 19 October 2017 19:40:14 +0800

On the 30th anniversary of the 1987 stock market crash, U.S. stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth.

Thirty years ago this week, Wall Street slid into the abyss

Thu, 19 October 2017 13:20:23 +0800

Thirty years ago, before heading to work at the New York Stock Exchange, Peter Kenny left his home in lower Manhattan and made a detour to the nearby Our Lady of Victory church to pray to St. Jude, the Roman Catholic patron saint of desperate and lost causes.

Japan carmakers vouch for safety of Kobe Steel's aluminum parts

Thu, 19 October 2017 20:15:23 +0800

Japan's transport ministry is considering convening a meeting to probe the safety of automobiles, trains and planes using products from scandal-hit Kobe Steel Ltd, Kyodo reported on Thursday.

Toyota says aluminum plates from Kobe Steel meet standards

Thu, 19 October 2017 11:10:14 +0800

Toyota Motor Corp on Thursday said that it had confirmed that aluminum plates supplied by Kobe Steel Ltd with falsified quality data which were used in parts for some of the Japanese automaker's vehicles had met safety and durability standards.

Toshiba investigated by Japan's securities watchdog: source

Thu, 19 October 2017 10:50:11 +0800

Japan's securities watchdog is investigating Toshiba Corp's accounting practices for the last business year to see if it properly handled the losses incurred by its U.S. nuclear unit Westinghouse, a source familiar with the matter told Reuters.

China Q3 GDP grows 6.8% year-on-year, meets expectations

Thu, 19 October 2017 10:20:39 +0800

BEIJING: China's economy grew 6.8 per cent in the third quarter from a year earlier, official data showed on Thursday (Oct 19), in-line with expectations and below the previous quarter's growth as fixed asset investment growth slowed. Analysts polled by Reuters had expected gross domestic product ...

ADP is already making changes Ackman wants: CEO

Thu, 19 October 2017 09:55:07 +0800

NEW YORK: Automatic Data Processing Inc is already making many of the changes activist shareholder William Ackman is advocating, but it will take time to see results, Chief Executive Officer Carlos Rodriguez said in an interview on Wednesday. "We have a pretty good track record of being able to ...

Ascott buys Silicon Valley hotel for S$81.5m to cater to tech companies' demand

Thu, 19 October 2017 09:40:38 +0800

SINGAPORE: The Ascott is investing S$81.5 million to acquire and refurbish The Domain Hotel in Silicon Valley, California, to capture the fast-growing demand from global technology companies and multinational corporations. The 136-room freehold hotel will be Ascott’s fourth acquisition in the ...

Asia stocks approach 10-year peak, unfazed by China GDP, dollar rises

Thu, 19 October 2017 10:30:07 +0800

Asian stocks inched up to near decade highs on Thursday, continuing to ride on a global equities rally, while the dollar resumed its rise on the back of a spike in U.S. yields.

IMF policies undermine human rights: UN expert

Thu, 19 October 2017 06:49:11 +0800

The International Monetary Fund's lending policies are undermining United Nations human rights and development goals, an independent expert commissioned by the UN said Wednesday.

Blue Apron cuts 6 percent of its workforce

Thu, 19 October 2017 05:35:10 +0800

Meal-kit delivery company Blue Apron Holdings Inc said on Wednesday it had cut about 6 percent of its total workforce.

Dow ends above 23,000 for first time on strong IBM earnings

Thu, 19 October 2017 05:40:38 +0800

NEW YORK: The Dow surged to a record on Wednesday (Oct 18), easily topping 23,000 points following strong earnings from IBM that boosted confidence about the rest of the quarterly reporting season. The Dow Jones Industrial Average jumped 160.16 points (0.70 per cent) to 23,157.60, its third ...

Stephen Squeri to replace Kenneth Chenault as new AmEX CEO

Thu, 19 October 2017 04:45:11 +0800

REUTERS: Credit card issuer American Express Co said on Wednesday long-time Chief Executive Kenneth Chenault will step down and will be replaced by Stephen Squeri. Net income attributable to common shareholders rose to US$1.36 billion, or US$1.50 per share, in the third quarter ended Sept. 30 ...

Samsung's revamped Bixby takes on Amazon Alexa

Thu, 19 October 2017 04:35:09 +0800

Samsung on Wednesday announced it is upgrading its Bixby digital assistant and making it available for a range of connected devices, setting up a clash with Amazon's Alexa and others competing for leadership in artificial intelligence.

EBay's profit forecast disappoints, shares fall

Thu, 19 October 2017 06:20:10 +0800

EBay Inc reported an 8.7 percent increase in quarterly revenue on Wednesday as revamps to its e-commerce platforms helped attract more customers.

US wages fail to rise despite 'widespread' labor scarcity: Fed

Thu, 19 October 2017 03:47:27 +0800

Wages for American workers remain stubbornly low despite "widespread" labour shortages, according to a US Federal Reserve survey published on Wednesday.

Bidding with bitcoin, a world first at Italian auction

Thu, 19 October 2017 02:02:47 +0800

Italian auction house Sant'Agostino said Wednesday bidders at its next sale will be able to settle up in bitcoin, a world first according to the auctioneers.

UAE boosts prestige of trades with world competition

Thu, 19 October 2017 01:39:34 +0800

The oil-rich United Arab Emirates, seeking to elevate the prestige of vocational skills among its youth, this week hosted a global trades competition -- the first in the Middle East.

Viacom, Charter agree to network deal for basic package: source

Thu, 19 October 2017 01:05:13 +0800

REUTERS: Viacom Inc and Charter Communications have agreed to a deal that would see eight of Viacom's networks included in the least expensive package of Charter's Spectrum cable service, a source told Reuters on Wednesday. Under the deal, which has not been finalized, five of Viacom's six ...

Swiss 'tax spy' ready to confess in German trial: Lawyer

Thu, 19 October 2017 01:04:39 +0800

A Swiss man accused of spying on German officials who were hunting tax cheats went on trial in Frankfurt on Wednesday, in a convoluted case that has strained ties between Bern and Berlin.

UPS CEO says updated NAFTA better for economy than no trade treaty

Thu, 19 October 2017 00:45:15 +0800

The top executive of United Parcel Service Inc said on Wednesday he is optimistic the U.S., Canadian and Mexican governments can successfully renegotiate NAFTA, and said not having a free trade agreement in place would not be good for the three countries' economies.

Native American tribe holding patents sues Amazon and Microsoft

Thu, 19 October 2017 01:45:13 +0800

A Native American tribe sued Inc and Microsoft Corp in federal court in Virginia on Wednesday for infringing supercomputer patents it is holding for a technology firm.

IBM shares head for biggest gain in eight years

Wed, 18 October 2017 23:00:13 +0800

Shares in International Business Machines Inc surged 9 percent on Wednesday after it beat expectations on revenue and gave an outlook that hinted one of the world's first big computing names was back on a growth track after six years in retreat.

Goldman's fledgling consumer bank draws questions from curious analysts

Wed, 18 October 2017 22:30:22 +0800

As Goldman Sachs Group Inc has unveiled more details about its strategy and financial targets to satisfy investor demands, Wall Street's attention has turned to a business so small and new that there may not be much to disclose.

Ford to recall about 1.3 million vehicles in North America

Wed, 18 October 2017 21:00:27 +0800

Ford Motor Co said on Wednesday it would recall about 1.3 million vehicles in North America to add a water shield to side door latches.

US housing starts fall to one-year low

Wed, 18 October 2017 20:40:14 +0800

U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting that housing probably remained a drag on economic growth in the third quarter.

US bankers hold onto hopes that Trump will boost profits

Wed, 18 October 2017 20:30:11 +0800

Top U.S. bankers are still hoping the President Trump's administration will make policy changes to boost profits, but made clear in public comments in recent days that they are not seeing any signs of progress so far.

Billionaire Branson targeted in US$5 million scam 'straight out of le Carre'

Wed, 18 October 2017 19:55:16 +0800

Richard Branson, billionaire founder of the Virgin group, has revealed he was targeted by a fraudster posing as Britain's defense minister who tried to get him to contribute US$5 million to a supposed secret ransom payment.

Dow hovers above 23,000, boosted by IBM

Wed, 18 October 2017 23:55:21 +0800

The Dow Jones Industrial Average was poised to open above 23,000 for the first time on Wednesday following a series of upbeat earnings reports from marquee companies.

'What hard work': Social media reacts as Xi gives marathon 3.5-hour speech

Wed, 18 October 2017 22:51:25 +0800

As Chinese leader Xi Jinping delivered his three-plus-hour speech at the Communist Party congress, delegates ranging from men in suits to military officers and former presidents dutifully turned every page as they read and listened to his words.

Danone board to meet Wednesday over management issues: source

Wed, 18 October 2017 17:45:15 +0800

Danone's board will meet on Wednesday afternoon to discuss senior management issues, said a source close to the matter who declined to give further details, amid media reports that its chairman will stand down.

Europe aviation agency advises suspending use of Kobe Steel products

Wed, 18 October 2017 17:40:09 +0800

PARIS: Europe's aviation regulator has advised aircraft manufacturers to suspend using parts from Kobe Steel until their legitimacy can be proved, following revelations about data cheating at the Japanese company. The move by the European Aviation Safety Agency (EASA) is another headache for Kobe ...

Taiwan ministry expresses 'deep concern' about Qualcomm's antitrust fine

Wed, 18 October 2017 18:30:19 +0800

Taiwan's economics ministry said it is "deeply concerned" about the antitrust agency imposing a US$775 million fine on Qualcomm Inc , in a rare public display of disagreement between authorities.

Nissan used uncertified inspectors even after misconduct found

Wed, 18 October 2017 17:05:18 +0800

TOKYO: Nissan Motor Co Ltd said on Wednesday it conducted uncertified vehicle checks as recently as last week even after revealing the widespread misconduct at its domestic factories. Japan's second-largest automaker has recalled all 1.2 million new cars it sold in Japan over the past three years ...

Malaysian billionaire Yeoh Tiong Lay dies aged 87: Reports

Wed, 18 October 2017 22:40:43 +0800

KUALA LUMPUR: Malaysian billionaire and the founder of YTL Corporation Yeoh Tiong Lay has died at age 87, according to local media reports on Wednesday (Oct 18). Yeoh leaves behind his wife Yeoh Kai Yong and seven children.  He founded YTL in 1955 as a small construction company. YTL has since ...

Baidu to hit the road with self-driving bus

Wed, 18 October 2017 16:35:51 +0800

Baidu chief executive Robin Li on Tuesday said the Chinese internet giant will have a self-driving bus on the road soon as it races for a lead in autonomous vehicles.

Kobe Steel to hold bidding for real estate unit on Friday: Bloomberg

Wed, 18 October 2017 16:00:18 +0800

Japanese steelmaker Kobe Steel Ltd , embroiled in a data falsification scandal that has roiled global supply chains, will hold a first round of bidding on Friday in the planned sale of a real estate unit, Bloomberg News reported on Wednesday.

Mitsubishi Motors checking how Kobe Steel parts affected by false data

Wed, 18 October 2017 15:45:16 +0800

Mitsubishi Motors Corp is investigating how components from suppliers containing Kobe Steel Ltd parts have been affected by the steelmaker's falsified data on product quality, the chief executive of the carmaker said on Wednesday.

McDonald's South Korea office raided in burger probe: Reports

Thu, 19 October 2017 23:34:32 +0800

South Korean investigators raided the Seoul office of McDonald's Corp on Wednesday, following a series of complaints that children fell ill after eating hamburger patties alleged to have been undercooked, Yonhap News Agency and other media said.

'Love for country' behind move to Ryanair, says Malaysia Airlines' CEO

Wed, 18 October 2017 18:00:24 +0800

Malaysia Airlines' outgoing chief executive Peter Bellew said on Wednesday his decision to leave the airline for Ryanair was due to a sense of responsibility to his native country.

Top Credit Suisse investor says activist plan needs be looked into: FT

Wed, 18 October 2017 14:00:12 +0800

Credit Suisse's largest shareholder wants the bank's management to consider parts of the break-up plan proposed by an activist investor, including shifting the group's investment banking unit to the United States from Switzerland, the Financial Times reported on Wednesday.

Silent Partners: The bankrollers behind the rush of Australia shareholder lawsuits

Wed, 18 October 2017 13:10:11 +0800

SYDNEY: After Australian internet company Vocus Telecommunications Ltd gave its second profit warning in seven months, fund manager David Pace received an email from a law firm asking him to join a shareholder class action. The case, proposed the email, would accuse Vocus of delaying reporting ...

Mitsubishi Motors aims to move on from scandal with 30 percent sales-boost goal

Wed, 18 October 2017 13:45:13 +0800

Mitsubishi Motors Corp on Wednesday said it planned to boost revenue and annual car sales by 30 percent in the next three years and crank up R&D investment as the Japanese automaker expands its presence in Asia, the U.S. and China while it draws a line under last year's mileage cheating scandal.

Asia shares camp near peaks, markets ponder Xi's speech

Wed, 18 October 2017 10:45:08 +0800

Asian shares consolidated recent gains and currencies kept to tight ranges on Wednesday as investors waited to see what policies might emerge from China's Communist Party conference.

NAFTA negotiators trade barbs, indicate wide differences

Wed, 18 October 2017 08:20:10 +0800

WASHINGTON: The top U.S. and Canadian and trade officials on Tuesday accused each other of sabotaging efforts to renegotiate the North American Free Trade Agreement, even as they and Mexico agreed to extend talks into the first quarter of 2018. A seven-day round of talks in suburban Washington ...

Boeing says Bombardier CSeries jets may face hefty duties despite Airbus deal

Wed, 18 October 2017 07:05:19 +0800

MONTREAL/TOULOUSE, France: Boeing Co said on Tuesday that Bombardier Inc's CSeries jets could still be hit with high U.S. import duties, even if they are assembled in Alabama through an industry-changing deal with Airbus. The deal announced on Monday gives Airbus a majority stake in Bombardier's ...

SEC charges Rio Tinto, former top executives with fraud

Wed, 18 October 2017 06:35:11 +0800

The U.S. Securities and Exchange Commission on Tuesday charged mining company Rio Tinto Plc and two of its former top executives with fraud, saying they inflated the value of coal assets in Mozambique acquired for US$3.7 billion and sold a few years later for US$50 million.

Dow ends at record after briefly crossing 23,000 points

Wed, 18 October 2017 05:40:38 +0800

The Dow edged to a fresh record on Tuesday briefly topping 23,000 points for the first time, following a batch of mostly good earnings.

JPMorgan to buy online payment provider WePay

Wed, 18 October 2017 05:40:14 +0800

JPMorgan Chase & Co said on Tuesday it would acquire online payment provider WePay as the bank looks to integrate payments into software used by small businesses.

Intel working with Facebook on chips for AI

Wed, 18 October 2017 05:21:40 +0800

Intel chief Brian Krzanich said Tuesday his company is working on a super-fast chip designed specifically for artificial intelligence.

NAFTA talks prolonged into 2018 amid sharp disagreements

Wed, 18 October 2017 04:58:54 +0800

Canada, the United States and Mexico on Tuesday said significant disagreements remained in talks to overhaul the North American Free Trade Agreement as they extended negotiations into 2018.

George Soros foundations now control US$18 billion: reports

Wed, 18 October 2017 05:00:19 +0800

Investor George Soros has transferred about US$18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday.

IBM's revenue beats estimates on cloud, security services

Wed, 18 October 2017 05:50:08 +0800

International Business Machines Corp's quarterly revenue slipped again as weak demand in the company's technology services business outweighed growth in its strategic areas that include cloud and security services.

Norway solar firm signs US$2.9 billion deal with Iran

Wed, 18 October 2017 04:09:07 +0800

Just days after US President Donald Trump called for further isolation of Iran, a Norwegian solar company signed a deal to invest 2.5 billion euros in the country over the next five years.

Hiring not part of Alibaba pledge to create US jobs

Wed, 18 October 2017 03:53:55 +0800

Alibaba executive vice chairman Joseph Tsai said Tuesday he expects to boost US jobs by expanding the Chinese firm's e-commerce platform -- not by hiring American workers.

Big US stock exchanges ask SEC to hold off on fee cap plan

Wed, 18 October 2017 03:45:10 +0800

A proposed regulatory experiment to test the effects of lowering stock exchange fees could end up making stocks harder to trade and should be delayed pending a comprehensive market review, the three largest U.S. stock exchange operators said in a letter to the Securities and Exchange Commission.

Blue skies ahead for Airbus, Bombardier CSeries partnership

Wed, 18 October 2017 03:35:21 +0800

Bombardier has ceded control of its new CSeries to Airbus, abandoning hope of ascending into the top echelons of passenger aircraft manufacturing alongside rivals Airbus and Boeing but securing US market access for its new jetliners.

Harvey Weinstein resigns from Weinstein Co board

Wed, 18 October 2017 13:00:14 +0800

Harvey Weinstein has resigned from the board of The Weinstein Company, Hollywood trade publication Variety reported on Tuesday, as he faces allegations that he sexually harassed or assaulted a number of women over three decades in the film business.

Wall St. ends little changed; Dow brushes 23K milestone

Wed, 18 October 2017 04:15:12 +0800

NEW YORK: The Dow Jones Industrial Average briefly ticked above the 23,000 point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, though it finished the session just below that level. The Dow Jones Industrial Average rose 40.48 points, or 0.18 ...

UBS asks London investment bankers - Amsterdam, Madrid or Frankfurt?

Wed, 18 October 2017 02:11:38 +0800

Swiss bank UBS asked staff whether they would prefer to relocate to Amsterdam, Madrid or Frankfurt after Britain leaves the European Union in a survey sent to its investment bankers on Tuesday, according to sources familiar with the matter.

Obituary: Jim Saft, Reuters columnist, a man of humor and insight

Wed, 18 October 2017 02:11:34 +0800

"No one is paid to front run the apocalypse".

Reversing Brexit would give 'significant' boost to UK: OECD

Wed, 18 October 2017 00:10:39 +0800

Reversing Britain's shock referendum to leave the EU would "significantly" boost the economy, the OECD said on Tuesday, while the government insisted there were no plans to cancel Brexit.

Google to go hard on hardware expansion in Asia Pacific: Executive

Tue, 17 October 2017 22:00:39 +0800

Global director for Pixel business Nanda Ramachandran says with the launch of Google Wifi and the impending launches of Pixel 2 XL and Pixel Buds in Singapore, these are helping pave the way for the full suite of its hardware products to be made available here.

Malaysia Airlines CEO quits unexpectedly, to return to Ryanair

Tue, 17 October 2017 21:43:39 +0800

DUBLIN/SINGAPORE: Malaysia Airlines CEO Peter Bellew is leaving after just over a year at the airline to return to Ryanair as chief operations officer. The move means that Malaysia Airlines will have to appoint a third chief executive in three years as it continues to recover from two tragedies in ...

Changi Garden sold for S$248.8m in en bloc

Tue, 17 October 2017 23:41:51 +0800

SINGAPORE: Changi Garden, a freehold residential and retail development, has been bought for S$248.8 million by mainboard-listed Chip Eng Seng. The price, which translates into S$888 per sq ft per plot ratio, is 27 per cent above the asking price of S$196 million. Each apartment owner will ...

Airbus to take majority stake in Bombardier C-Series jet program

Tue, 17 October 2017 09:50:41 +0800

MONTREAL/PARIS: Airbus SE agreed on Monday (Oct 16) to buy a majority stake in Bombardier Inc's C-Series jetliner program, grabbing control of a struggling competitor at the second attempt and giving the Canadian plane-and-train-maker an unexpected boost in its costly trade dispute with Boeing ...

Singapore exports fall 1.1% after 4 months of growth

Tue, 17 October 2017 13:39:33 +0800

SINGAPORE: Shipments of locally produced goods declined in September after four months of expansion, as exports of electronic products came in short. On a year-on-year basis, non-oil domestic exports (NODX) fell by 1.1 per cent last month, trade agency International Enterprise (IE) Singapore said ...

Dow, S&P 500, Nasdaq end at records as bank shares gain

Tue, 17 October 2017 05:00:38 +0800

NEW YORK: Wall Street stocks jumped to fresh records Monday (Oct 16), boosted by bank shares that were lifted by expectations that the Federal Reserve will again increase interest rates this year. All three major indices ended at records, with the Dow Jones Industrial Average rising 0.4 per cent ...

Mercedes recalls 400,000 UK cars on airbag fault

Tue, 17 October 2017 05:06:41 +0800

Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday.

Nordstrom family suspends attempt to take retailer private

Mon, 16 October 2017 23:10:11 +0800

Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season.

FINRA orders Wells Fargo to pay clients US$3.4 million over sales practice issues

Mon, 16 October 2017 22:35:16 +0800

The Financial Industry Regulatory Authority on Monday ordered Wells Fargo & Co.'s clearing services and Wells Fargo Advisors Financial Network to pay customers US$3.4 million in restitution for sales practice issues related to unsuitable recommendations of certain investment products.

Bombardier pursues options for aerospace division; no deal imminent: sources

Mon, 16 October 2017 22:20:21 +0800

Canada's Bombardier Inc is continuing to look at strategic options for its aerospace division but no deal is imminent, people familiar with the matter told Reuters on Monday.

China offers to buy 5% of Saudi Aramco directly: Sources

Mon, 16 October 2017 22:25:54 +0800

China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world's biggest oil producer on the stock market.

Wall Street hits fresh record on financial, tech gains

Mon, 16 October 2017 22:20:16 +0800

Major Wall Street indexes hit fresh records at the open on Monday on gains in financial and technology stocks even as investors awaited a slew of earnings reports this week.

US top court to review antitrust claims against American Express

Mon, 16 October 2017 21:50:15 +0800

The U.S. Supreme Court on Monday agreed to decide whether American Express Co is violating federal antitrust law by forbidding merchants that accept its credit cards from encouraging customers to use rival cards that charge lower fees.

Ukraine goes to WTO over Russian ban on booze, presidential sweets

Mon, 16 October 2017 21:05:16 +0800

Ukraine has filed a World Trade Organization complaint challenging Russian trade restrictions on beer, vodka, juice, wallpaper and a product close to President Petro Poroshenko's heart: confectionery.

BlackBerry shares down after another top exec leaves

Mon, 16 October 2017 20:00:10 +0800

BlackBerry's U.S.-listed shares fell almost 4 percent to US$11.12 on Monday after a second senior executive from its licensing unit quit this month.

Fake paperwork, poor parts challenge China's aerospace boom

Mon, 16 October 2017 22:30:13 +0800

Chinese suppliers to U.S. flight control systems maker Moog sold it poorly made parts, faked paperwork and outsourced work to a factory not approved by the company, according to an internal report by U.S. aviation regulators.

Toyota to test self-driving, talking cars by about 2020

Mon, 16 October 2017 18:05:22 +0800

Toyota Motor Corp on Monday said it would begin testing self-driving electric cars around 2020, which will use artificial intelligence (AI) to engage with drivers, as the company competes with tech firms to develop new vehicles.

Daimler takes first steps on new structure for cars and trucks

Mon, 16 October 2017 17:45:10 +0800

Daimler said it has taken the first steps towards a new structure that could see its Mercedes Benz cars and vans and its Daimler Trucks divisions split off into separate entities.

AirAsia Japan to relaunch later this month

Mon, 16 October 2017 16:00:40 +0800

SINGAPORE: Low-cost airline AirAsia Japan on Monday (Oct 16) said it would begin its first flights from Nagoya later this month, more than two years after Malaysia's AirAsia Bhd announced plans to re-enter the Japanese market with new partners. A prior AirAsia Japan, a joint venture with Japanese ...

Asian shares conquer 10-year peak, commodities ride high on China

Mon, 16 October 2017 14:55:12 +0800

SYDNEY: Asian shares rallied to a decade high on Monday as upbeat Chinese data boosted commodity prices, while the euro extended losses after the Catalan leader failed to give a clear answer to whether or not he declared independence from Spain. MSCI's broadest index of Asia-Pacific shares outside ...