Monday, November 30, 2015
Amazon
Hordes of British Christmas shoppers swapped the High Street for the internet on "Black Friday", leaving stores unusually quiet but delivering Amazon its biggest ever sales day in the country.
Store Sales in USA
Sales at US brick-and-mortar stores on Thanksgiving Day and Black Friday were down slightly from last year, but the performance was still seen as strong in a holiday shopping season where discounts spread well beyond the weekend and many shoppers moved to the web.
Greener Footing
Starting on Monday, world leaders from 190 countries will gather in Paris over the next two weeks to finalise a new global climate accord aimed at reducing carbon emissions.
Sunday, November 29, 2015
Nickel
Nickel smelters in China, the largest producer, plan to cut output next year by at least 20 per cent in a bid to shore up prices after the metal plunged to its lowest in 12 years.
OPEC
Oil buyers in Asia are sure of one thing as the Organization of Petroleum Exporting Countries (Opec) prepares to meet: they'll emerge as winners from the group's rift over production.
Oil Prices
Oil prices slid Friday on concerns about global oversupply as traders looked ahead to next week's Opec meeting, skeptical the oil producers cartel will lower high output levels.
Saturday, November 28, 2015
Economic Confidence in Euro-area
Euro-area economic confidence matched its highest level in more than four years as the European Central Bank prepares to make a decision on whether to increase stimulus.
Consumer Confidence in Germany
German consumer confidence slipped for a fourth month in a row in November as shoppers worried about the impact of a record influx of asylum seekers, a survey found Thursday.
GreenWire
Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the UN climate change summit in Paris, GreenWire reported on Friday.
Friday, November 27, 2015
AirAsia Bhd
AirAsia Bhd swung to a third-quarter loss due to foreign exchange losses and a writedown at its lossmaking Indonesian associate as Asia's biggest budget airline seeks to address market concerns over high debt and dues owed by its affiliates.
GlaxoSmithKline Plc
GlaxoSmithKline Plc expects its China business to return to growth after a two-year sales slump triggered by a government investigation that cost it a record 3- billion-yuan (S$675 million) fine last September.
Lloyds Banking Group
Taxpayer-backed Lloyds Banking Group said on Thursday it was cutting around 945 jobs in a restructuring plan first outlined a year ago with the aim of reducing the bank's workforce by 9,000.
Thursday, November 26, 2015
New OPEC Member
After defending the interests of oil-exporting nations for five decades, Opec has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps.
Indonesia will rejoin the Organization of Petroleum Exporting Countries as its 13th nation next month, almost seven years after suspending its membership. The country says that as Opec's only Asian constituent, it will provide a vital link to the region where demand is growing fastest. Still, saddled with an oil-import bill of about US$13 billion last year, Indonesia makes an unlikely addition to the exporters' club.
UK 2016 Economic Growth Forecast
Chancellor of the Exchequer George Osborne said the UK economy will grow by 2.4 per cent this year and in 2016 as he set out his spending priorities for the next five years.
Uber
Three mid-level bankers in Goldman Sachs Group Inc's technology investment banking group in San Francisco have left to take positions at ride service company Uber Technologies Inc in recent months, people familiar with the matter told Reuters.
Wednesday, November 25, 2015
Home Prices in USA
Annualized US single-family home prices rose in September at a faster pace than in August and above market expectations, a closely watched survey showed on Tuesday.
New 20-euro Banknote
The European Central Bank on Wednesday will launch into circulation a new 20-euro banknote with enhanced security features to foil counterfeiters.
GDP in USA
The US economy grew at a healthier clip in the third quarter than initially thought, suggesting resilience that could help give the Federal Reserve confidence to raise interest rates next month.
Tuesday, November 24, 2015
Rolls-Royce
British engineering company Rolls-Royce, under pressure after a series of profit warnings, said it would increase its stakes in two aero-engine maintenance centres as part of a plan to improve competitiveness.
Ferrari
Legendary carmaker Ferrari said on Monday it was seeking a share listing on the Milan stock exchange, a month after roaring onto Wall Street.
Pfizer Inc
Pfizer Inc, the maker of Viagra and Lipitor, has struck a deal to buy Botox-maker Allergan Plc in a transaction valued at about US$160 billion, creating the world's biggest drugmaker.
Monday, November 23, 2015
EU
European Union leaders are not only unlikely to reach a deal next month with Britain on its demands for reform of the bloc but may not even narrow differences at a pre-Christmas summit, officials and diplomats said.
Tower Fifteen
A freehold commercial building in the Central Business District (CBD) is being put up for sale by means of Expression of Interest.
Tower Fifteen at 15 Hoe Chiang Road is a 29-storey office tower, which includes an annex three-storey hotel podium. The building has a site area of approximately 39,337 sq ft, and a current gross floor area of 253,453 sq ft which comprises of office and hotel space.
NOL
Neptune Orient Lines (NOL) on Saturday announced that it has entered into an exclusivity agreement with France's CMA CGM for a potential acquisition of NOL by way of a pre-conditional voluntary general offer.
Sunday, November 22, 2015
Lunches with David Swensen
Online charity bidding reached US$25,700 for two lunches with David Swensen, the longtime investment chief of Yale University's endowment fund - one of the best-performing in the Ivy League.
Belgium
Belgium raised the alert status for its capital Brussels to the highest level on Saturday, shutting the metro and warning the public to avoid crowds because of a "serious and imminent" threat of an attack.
Hong Kong Votes
Hong Kong votes in district level elections on Sunday that will mark the first real test of public sentiment since pro-democracy protests crippled parts of the Chinese-controlled city last year.
Saturday, November 21, 2015
Baltic Exchange
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slumped to a new all-time low on Friday, pulled down by a vessel glut and slowing industrial demand from China.
Google Play in China
Google, part of Alphabet, aims to launch the China version of its Google Play smartphone app store next year, according to people familiar with the matter, its first major foray in the market since ending localised product support in 2010.
ASEAN-China FTA
ASEAN will deepen its trading ties with its biggest trading partner, with the signing of an agreement between the regional grouping and China to upgrade their existing free-trade deal - a pact that could boost trade between them to US$1 trillion by 2020.
Friday, November 20, 2015
Letter from City Harvest Church to the Presiding Judge
"Your Honour,
Appeal for leniency
Much has been said and heard from those from outside the church, and those who have left. This letter comes from those of us who have stayed, who are still attending City Harvest Church.
Although the court has ruled that monies from the church and its building fun have been misappropriated, while many of us have given to over the years, we have no wish to see any one of them go through a jail term. And while we, as individuals on our own have much to reflect upon and are coming to our own conclusions based on the trial and findings, we do find common ground in one matter - not one of us want any of the six to go to jail for what they did.
As a charity organisation, we believe in the spirit of charity - to serve and to give, with no strings attached, so that another life may be touched and helped. As Christians, and as a church, we believe in redemption, which leads to restoration.
It pains us deeply to see each of them having to go through the last five years. It pains us more, to know that now they face jail terms.
Sir, we are the one who have given, through tithes, offerings and building funds. We are still here. And so are Poster Kong Hee, Pastor Tan Ye Peng, John Lam, Serina Wee and Sharon Tan. Throughout these past five years, we see them still attending church. Still helping out. Still serving. We see them stand and worship God every weekend, many times with tears streaming down their faces.
In this whole matter, we believe they wanted to fulfill the Crossover mission and in their zeal, they overstepped certain boundaries.
We sincerely ask for leniency on their sentencing. For the sake of their young children, we appeal for them to be spared jail terms.
Yours sincerely,
Executive Members (Voting Members)
Total: 173 signatures"
City Harvest Church Trial
Founder and senior pastor of City Harvest Church Kong Hee has been sentenced to eight years. Co-accused Tan Ye Peng has been sentenced to five years six months while John Lam has been sentenced to three years. Sharon Tan received a lighter sentence of 21 months. Chew Eng Han has been sentenced to six years while Serina Wee will be jailed five years.
Goldman Sachs Group Inc
Goldman Sachs Group Inc recommended buying the dollar against the euro and yen and said investors should buy US inflation-linked bonds over their conventional equivalents, as it published its top trades for 2016.
Ringgit
Malaysia's ringgit rose the most in a month, supported by rebounding oil prices and signs the pace of US interest-rate increases will be gradual once they start in December.
Thursday, November 19, 2015
Barclays Plc
Barclays Plc is expected to pay at least US$100 million to settle an investigation by New York's banking regulator into whether it abused the "last look" practice on its electronic currency-trading program, according to a person briefed on the matter.
BlackRock Inc
BlackRock Inc is shutting down its Global Ascent Fund, a hedge fund, following a trying year for other similar investment strategies, the company said on Wednesday.
Wednesday, November 18, 2015
COE 18 November 2015
Certificates of entitlement (COE) premiums ended higher across the board in the latest tender on Wednesday (Nov 18).
Cat A COE for cars up to 1,600cc rose to a five-month high of $59,200 from $56,001, while Cat B COE for cars above 1,600cc also rose from $57,501 to $61,103.
Meanwhile, Cat C COE for goods vehicles and buses rose from $43,809 to $45,890.
Cat D COE for motorcycles posted the sharpest spike from $5,912 to $6,502 while Cat E Open COE for any vehicle type also saw a four-month high of $62,109, from $60,689.
City Harvest Church
The Public Prosecutor has asked for stiff sentences for all six City Harvest Church (CHC) leaders, including the recommendation that church founder Kong Hee be sentenced to 11 to 12 years in jail, The Straits Times has learnt.
Consumer Prices in USA
US consumer prices increased in October after two straight months of declines as the cost of gasoline and a range of other goods rose, a tentative sign that the drag on inflation from a strong dollar and lower oil prices was starting to ease.
Marriott International
Marriott International Inc Chief Executive Officer Arne Sorenson said hotel customers would get "more and more points" as a result of its US$12.2 billion acquisition of Starwood Hotels & Resorts Worldwide Inc.
Tuesday, November 17, 2015
Sime Darby
Malaysia's Sime Darby Bhd plans to focus on improving the yields at its current palm oil plantations rather than relying on planting new areas to grow, the world's top oil palm planter by land size said on Monday.
Apple
Apple announced on Sunday that it has struck a deal to power all of its Singapore operations with renewable energy, the latest in a series of steps from the company to turn its operations worldwide green.
OPEC
The average price of crude sold by Opec fell below US$40 a barrel for the first time 2009, underscoring the financial cost of the group's strategy to defend its market share.
Monday, November 16, 2015
Myanmar
Myanmar's President Thein Sein on Sunday said historic polls won in a thumping landslide by Aung San Suu Kyi's party were the consequence of his government's reforms and vowed a smooth transition of power.
Free Trade Agreement
Singapore and Turkey signed their third trade agreement on Saturday, on the sidelines of the Group of 20 (G20) Summit in Antalya.
Autonomous Cars
Japanese car manufacturers will have to convince the public that letting go of the wheel in a self-driving car is safe, while also dealing with the biggest threat to the cars' security: the humans using them.
Sunday, November 15, 2015
First Sponsor Group
First Sponsor Group Limited has enlarged its footprint in the Netherlands by brokering another deal, this time with three other co-investors, to acquire a portfolio of 16 offices in the country.
APEC
The Philippines on Saturday vowed "higher security" for world leaders at an economic summit in Manila next week after a series of bombings and shootings left more than 120 dead in Paris.
US President Barack Obama is set to join the leaders of China, Japan, Australia, Canada and 15 others at an annual Asia-Pacific Economic Conference (Apec) summit in Manila on November 18-19.
Yuan
China on Saturday welcomed backing from IMF experts that the yuan should be included in its reserve currencies, saying the move would strengthen the world's financial system.
Saturday, November 14, 2015
Volkswagen
Volkswagen brand sales fell 5.3 per cent in October, the first full month after Europe's biggest carmaker was found cheating diesel emissions tests in the United States.
Oil
Oil headed for a second weekly decline, trading near the lowest levels in two months, as a global energy advisory group said stockpiles in developed nations have reached a record and US crude supplies rose.
Garuda
Garuda Indonesia will decide whether to buy 30 wide-body jets worth potentially US$9 billion from either Airbus or arch-rival Boeing by end-2015, the airline's chief executive said in an interview on Friday.
Paris Shootings
President Hollande announced on TV and radio that a state of emergency would be declared. "France must be strong in the face of terrorism," he said. "Terrorist attacks are taking place in Paris. It's a horror, We have mobilised all possible forces."
A police source said gun attacks had taken place at six different locations in Paris, as well as the grenade attack at the Stade de France (stadium). French media reported as many as 40 dead, with 60 "extremely urgent" casualties rushed to hospitals. At least one ongoing hostage situation, possibly several, police said.
Friday, November 13, 2015
Burberry
British luxury brand Burberry said on Thursday its comparable store sales improved in its third quarter relative to the second as it reported a better-than-expected 3 per cent rise in first half underlying profit.
Consumer Confidence in USA
Consumer confidence steadied after declining for the previous three weeks as Americans' views toward spending improved by the most in five months.
UK-India Deals
Prime Minister David Cameron said British and Indian companies will announce deals worth a total of £9.0 billion (S$19.4 billion) during his Indian counterpart Narendra Modi's visit to Britain.
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