NEW YORK (AFP) – Major Wall Street indices finished at fresh records on Friday (May 7) after disappointing US jobs data fuelled confidence of continued …
Fed warns asset prices ‘vulnerable to significant declines’ as investors gorge on risk
WASHINGTON (BLOOMBERG) – A rising appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the US financial system, …
Peloton unveils treadmill safety fixes as recall hits sales forecast
BENGALURU (REUTERS) – Peloton Interactive on Thursday (May 6) estimated an about US$165 million (S$220 million) hit to current-quarter revenue from a recall of its …
Billionaire Li Ka-shing betting on South-east Asia’s tech start-ups
HONG KONG (BLOOMBERG) – Hong Kong tycoon Li Ka-shing’s private investment firm Horizons Ventures will make South-east Asia a priority, with the region’s digital economy …
OCBC Q1 profit more than doubles to record $1.5 billion
SINGAPORE – OCBC beat market expectations on Friday (May 7) as its first-quarter profit more than doubled on the strong performance of its wealth and insurance businesses …
Healthy employment numbers make Wall Street happy
WASHINGTON (AFP) – US stocks finished higher on Thursday (May 6), after the Labour Department reported fewer new claims for unemployment benefits last week as …
Credit Suisse boosts Asia hiring to tap fast growing markets
HONG KONG (BLOOMBERG) – Credit Suisse Group has boosted its headcount by more than 100 across the Asia-Pacific this year as the Swiss lender seeks …
SPH calls for trading halt pending release of announcement
SINGAPORE – Singapore Press Holdings (SPH) on Thursday morning (May 6) called for a halt in the trading of its shares pending the release of …
UOB Q1 profit rises 18% to $1 billion, beating expectations
SINGAPORE – UOB, like DBS Group last week, posted a strong start to 2021 with broad-based growth driven by record fee income. Singapore’s third-largest bank …
Uber shows signs of recovery from Covid-19 slowdown
NEW YORK (NYTIMES) – Uber said its business was recovering from the slowdown caused by the Covid-19 pandemic, although it continued to lose money. The …
Jeff Bezos sells US$2.5 billion of Amazon shares and signals more coming
NEW YORK (BLOOMBERG) – Jeff Bezos sold about US$2.5 billion (S$3.3 billion) of Amazon.com stock, his first big disposal this year after offloading more than …
Ascendas Reit to buy remaining 75% stake in Galaxis for $534 million
SINGAPORE (THE BUSINESS TIMES) – Ascendas Reit is buying the remaining 75 per cent equity stake in Galaxis, a business park at one-north for about …
World’s biggest economies bet vaccine passports can save tourism
ROME (BLOOMBERG) – The world’s most powerful economies agreed to back plans for so-called vaccine passports in a bid to pull the travel and tourism …
Pfizer reaps hundreds of millions in profits from Covid-19 vaccine in first quarter
NEW YORK (NYTIMES) – Last year, racing to develop a vaccine in record time, Pfizer made a big decision: Unlike several rival manufacturers, which vowed …
GE shareholders reject CEO’s US$230 million pay in rare rebuke
NEW YORK (REUTERS) – General Electric shareholders rejected top executives’ compensation packages, including a payout of as much as US$230 million (S$307 million) to CEO …
Ikea to buy back unwanted UK furniture in fresh green push
LONDOM (BLOOMBERG) – Ikea is offering to pay UK consumers for their unwanted items in a bid to lower waste headed to landfills. The Swedish …
Partial offer for Procurri lapses with both thresholds unmet
SINGAPORE (THE BUSINESS TIMES) – Private equity firm Novo Tellus’ partial offer to acquire a 51-per-cent stake in IT life-cycle services and data-centre equipment provider …
Rental companies in US buy up used cars as chip crisis gets worse
NEW YORK (BLOOMBERG) – The semiconductor shortage has slashed vehicle production so much that rental-car companies can’t get the new cars they need, so they …
Ether extends gains to fresh record above US$3,400
SINGAPORE (REUTERS) – Cryptocurrency ether extended gains to another record peak on Tuesday (May 4), after breaking above US$3,000 (S$3,988) for the first time a …
Warren Buffett names Greg Abel next Berkshire CEO after he’s gone
NEW YORK (NYTIMES) – For years, perhaps the biggest question that investment guru Warren Buffett has faced is who is in line to replace him …