ZURICH – Credit Suisse Group hit a fresh record low after attempts to reassure markets on its financial stability only added to the sense of …
US home prices now posting biggest monthly drops since 2009
BOSTON – Home prices in the United States have taken a turn and are now posting the biggest monthly declines since 2009. Median home prices …
Private home prices rise 3.4% in Q3, led by 7% jump for suburban condos: Flash data
SINGAPORE – Private home prices continued to climb in the third quarter of this year, with prices in the suburbs rising the most on the back …
The pitfalls of ‘investing’ in gold jewellery
SINGAPORE – Gold prices have been hammered by the stronger greenback and are down about 20 per cent from their pandemic high – but before …
Macau casinos see another dismal month as China lockdowns widens
MACAU – Macau’s slowdown extended into September, with gaming revenue falling 49.6 per cent as China’s snap lockdowns to control Covid-19 outbreaks discouraged tourists from …
US stocks end lower, adding to week’s losses
NEW YORK (AFP) – Wall Street stocks ended decisively lower on Friday to conclude another difficult week defined by worries over inflation and the worsening …
Euro-zone inflation at double-digit record piles pressure on ECB
FRANKFURT – The euro zone’s economic crisis intensified with the first ever reading of double-digit inflation, piling pressure on the European Central Bank to keep …
Asia shares head for worst month since Covid-19 pandemic started
SYDNEY – Asian shares on Friday were headed for the worst month since the onset of the Covid-19 pandemic, while jitters in currency and bond …
South Korea’s Yoon calls for sense of urgency over turbulent markets
SEOUL – South Korean President Yoon Suk-yeol called on Friday for more urgency in dealing with turbulent markets as the won currency’s fall to a …
Stricter borrowing criteria for property buyers, 15-month wait for private property owners moving to HDB flats
SINGAPORE – The maximum amount of money home buyers can borrow to purchase their homes will be tightened with immediate effect, so that borrowers avoid …
Apple’s ugly day wipes out $172 billion, spills over Big Tech
SAN FRANCISCO – Apple shares buckled after a rare analyst downgrade exacerbated another wave of selling pressure that wiped out hundreds of billions of dollars …
US stocks back in the red as Apple slumps
NEW YORK (AFP) – Wall Street stocks suffered another ugly rout on Thursday as US bond yields resumed their upward climb on a bruising day …
China warning on speculation sparks first renminbi gain in nine days
HONG KONG – China’s onshore renminbi advanced for the first time in nine sessions, after the central bank issued a verbal warning against currency speculation. …
With mega deal, Sats on path to becoming global supply chain leader
SINGAPORE – During the last two years, cargo accounted for some 40 per cent of global airline revenue. While Singapore Airlines planes flew with a …
Hong Kong’s worst trading debut in 2022 sends EV maker down 42%
HONG KONG – An electric-vehicle (EV) maker and a unit of China’s real estate developer China Vanke plunged in their trading debuts in Hong Kong, …
US stocks rally after Bank of England intervention
NEW YORK (AFP) – Wall Street stocks jumped on Wednesday, shaking off a recent slump and rallying after the Bank of England’s (BOE) intervention in …
Apple ditches iPhone production increase after demand falters
TAIPEI – Apple is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialise, …
Australian retail sales keep defying gravity with August jump
SYDNEY – Australian retail sales boasted another strong month in August as shoppers spent on household goods and eating out, a sign that consumers were …
Inflation in UK shops hits record high as pound tumbles
LONDON – Prices in British shops hit a fresh record high this month, heaping more pain on consumers already grappling with soaring energy and housing …
China lacks the right workers to boost transition to ‘Hard Tech’
HONG KONG – For a decade, China’s tech giants like Alibaba Group Holding and Tencent Holdings were major drivers of its economy, drawing the lion’s …