Friday, November 6, 2015
Michelin Guide on Street Food in Hong Kong
Hong Kong's frills-free street food vendors have made it to this year's Michelin Guide for the first time, officials of the celebrated culinary guide said Thursday, as it released its 2016 recommendations for the southern Chinese city.
Societe Generale
Societe Generale, France's second-largest bank, unveiled Thursday plans to shut 400 branches and cut some 2,000 jobs in the next five years as clients increasingly switch to online banking.
Thursday, November 5, 2015
Turkey
Turkey's credit outlook will hinge on the new government's ability to tackle slowing growth and high inflation, ratings agency Moody's said on Wednesday.
Jobs in USA
US private employers added 182,000 jobs in October, a tick above economists' expectations, a report by a payrolls processor showed on Wednesday.
Interest Rates
Federal Reserve Chair Janet Yellen said Wednesday that US economic activity remains solid and that the Fed could decide to increase interest rates at its December meeting.
Wednesday, November 4, 2015
COE 4 November 2015
Category A - for cars below 1,600 cc and 130 hp - dipped S$1,300 (the exact amount it gained in the previous tender two weeks ago) to S$56,001, while Cat B - for cars above 1,600cc or 130 hp - fell S$2,388 to S$57,501.
But Cat E - the open category which has been tracking Cat B - climbed S$689 to S$60,689. So did Cat C - for goods vehicles - which rose S$1,506 to S$43,809.
On the other hand, Cat D - for motorcycles - slipped S$390 to S$5,912.
Amazon Books
US online giant Amazon, which has led the bookselling industry's shift to the Internet, opens its first physical bookstore on Tuesday.
"These aren't metaphorical doors: these real, wooden doors are the entrance to our new store in Seattle's University Village," the company said on a web page for the shop, located in Amazon's hometown in the northwest state of Washington.
The store, called Amazon Books, "is a physical extension of Amazon.com" which "integrates the benefits of offline and online book shopping," the company said.
Commodities Prices in New Zealand
Prices for New Zealand's main commodities rose in October due to rebounding dairy prices, ANZ Bank's commodity price index showed on Tuesday.
Goldman Sachs
Goldman Sachs Group Inc went short oil and gas companies last quarter, bringing its total exposure to the industry below US$12 billion for the first time since it started breaking out that risk to investors at the end of last year.
Tuesday, November 3, 2015
Lufthansa
Lufthansa cabin staff are threatening to go on strike from the end of this week if management does not come up with an improved offer in an ongoing labour dispute, the union UFO said on Monday.
UK Factory PMI
British factory activity unexpectedly surged to a 16-month high in October helped by a recovery in export orders, a survey showed on Monday, suggesting economic growth could pick up rapidly in the last three months of the year.
Bank of England
The Bank of England set out the scenario it will use to assess the resilience of the UK banking system in the coming years, including a 35 per cent decline in house prices between the end of this year and the second quarter of 2018.
Monday, November 2, 2015
Rare Summit
The leaders of South Korea, China and Japan said on Sunday they were willing to work together again for regional trade and security after setting aside historical animosities with their first summit talks in more than three years.
WTA
Agnieszka Radwanska won the biggest title of her career on Sunday as she downed two-time Wimbledon champion Petra Kvitova 6-2, 4-6, 6-3 to win the WTA Finals in Singapore.
Interest Rates
The International Monetary Fund on Friday urged the Federal Reserve to be cautious on raising rates, warning that tightening too fast could force it to reverse and possibly lose credibility.
Sunday, November 1, 2015
Vehicle Emissions Testing in Australia
Australia will review its standards and testing procedures for vehicle emissions, the government said on Saturday, after media reports said the recent scandal involving Volkswagen cars highlighted the country's relatively lax standards.
TPP
The Trans-Pacific Partnership (TPP) will play a key role in helping the Japanese government to boost economic growth, the Nikkei business daily reported on Saturday.
Hot Meals from Vending Machines
Vending machines here are more associated with soft drinks, crisps and candy, but such machines could soon also be serving up piping hot meals. Government agencies and food and beverage (F&B) companies are turning their focus to selling food products outside their establishments as a way to get around rising rental and labour costs. Such machines could also open up new revenue streams for these F&B businesses.
Saturday, October 31, 2015
Gold
Gold dropped to the lowest in more than two weeks after the Federal Reserve signaled that an increase in interest rates is still on the table for this year.
Chevron
US oil giant Chevron said Friday it was going to cut between 6,000 and 7,000 jobs and continue with asset sales as the company retrenches amid sharply lower oil prices.
Apple Inc
Tech giant Apple, which has just announced an analysts-beating fourth-quarter profit of US$11.1 billion, is in expansion mode in Singapore. In addition to reports of plans for its first Singapore store at Knightsbridge mall, it is said to be leasing a chunk of business park Fusionopolis Two Tower.
Friday, October 30, 2015
Crude Oil Futures
Crude oil futures fell on Thursday as the dollar strengthened on signs the Federal Reserve may raise US interest rates in December.
Power Utilities in USA
Power utilities hungry for growth are offering top dollar to buy natural gas pipeline networks across the US. But they're drawing the line at the master limited partnerships that have lost almost 40 per cent of their value in the past year.
Public Transport System in Singapore
Privatisation of Singapore's public transport system has gone "too far", and the system should be run by the government instead of private operators, a leading academic said on Thursday.
In doing so, Kishore Mahbubani, dean of the Lee Kuan Yew School of Public Policy, called on Singapore to not be "a prisoner of old economic ideas", and have the "political courage" to make changes to the idea of the role privatisation plays in the country's economy.
Thursday, October 29, 2015
Smartphone
The smartphone is the tech story for Americans these days: most adults have one, and growth has overshadowed that of all other electronic gadgets.
A Pew Research Center report released Thursday found 68 per cent of Americans use a smartphone, compared with 35 per cent in 2011.
China's Growth
China's economy could overshoot the International Monetary Fund's forecast and grow close to 7 percent this year although the outlook for the medium term is more uncertain, a senior IMF official said on Wednesday.
Work Permit in Indonesia
Three months after introducing onerous work permit rules on foreign professionals heading to Indonesia and offshore directors of local companies, Jakarta has reversed course and scrapped some of the more cumbersome requirements.
Wednesday, October 28, 2015
Ford Motor Co
Ford Motor Co reported sharply higher quarterly profit on Tuesday, driven by its record quarterly performance in North America, but the automakers'shares fell 5 per cent after its results fell short of Wall Street estimates.
ABN Amro
Dutch bank ABN Amro confirmed on Tuesday plans to sell the first of its state-owned shares in an initial public offering later this year, seven years after a multi-billion state-sponsored bailout.
Vehicle Software
Car owners and security experts can tinker with automobile software without incurring some US copyright liability, according to new guidelines issued this month that had been opposed by the auto industry.
Tuesday, October 27, 2015
Qunar and Ctrip
Two of China’s largest online travel firms have agreed a share swap and partnership deal to create the country’s biggest Internet travel service, Bloomberg News reported Monday.
Internet giant Baidu, which controls the online travel site Qunar, will own 25 percent of rival Ctrip, Bloomberg cited a company statement as saying.
Sharp Inc
Embattled Japanese electronics giant Sharp on Monday warned it was on track to lose nearly US$700 million in the half-year through September owing to a slump in demand for its smartphone screens.
New Home Sales in USA
New US single-family home sales fell to near a one-year low in September after two straight months of gains, suggesting a temporary cooling in the market for new houses.
Monday, October 26, 2015
Rolls-Royce
Manufacturing giant Rolls-Royce opened the new Asia headquarters of its engine-manufacturing subsidiary MTU here on Friday, with the aim of strengthening its land and sea operations in the region, and help it tap the region's growth.
Volkswagen
Volkswagen may offer VW owners in Germany discounts on new cars if they turn in certain old models affected by the emissions scandal that has rocked Europe's biggest carmaker, German news agency DPA reported on Sunday.
Special Drawing Rights
International Monetary Fund (IMF) representatives have given China strong signals that the yuan is likely to soon join the fund's basket of reserve currencies, known as Special Drawing Rights, Chinese officials with knowledge of the matter told Bloomberg News this week.
Sunday, October 25, 2015
Facebook Inc
It is another first for Facebook Inc's stock: a third digit.
Already the fastest company ever to reach US$250 billion in market value, the social network operator has jumped over US$100 a share, capping a 476 per cent rally since September 2012 for the third-best performance in the Standard & Poor's 500 Index.
Microsoft Corp
Microsoft Corp reached a 15-year high after profit exceeded analysts' estimates, buoyed by demand for Internet-based programs that handle business tasks and host companies' applications.
Toshiba Corp
Toshiba Corp is in late-stage talks to sell its image sensor business to Sony Corp. in a deal valued at about 20 billion yen (S$230 million), the Nikkei newspaper reported.
Saturday, October 24, 2015
Twitter Inc
Twitter Inc Chief Executive Jack Dorsey said he is giving a third of his stock in the company, about 1 per cent, to the employee equity pool.
Apple in China
US technology giant Apple will continue to invest in China despite slowing growth in the world's second-largest economy, chief executive Tim Cook told state media, as the company prepares to open its newest store in the mainland.
Federal Funds Rates
For much of this year, the conventional wisdom on Wall Street has been that after seven years of loose monetary policy under which short-term interest rates were pushed to near zero, the US Federal Reserve would take the first steps towards raising the federal funds rates before end-2015.
Friday, October 23, 2015
Volkswagen
Volkswagen AG will need hardware fixes for about 3 million cars in Europe affected by the diesel-emission manipulations as the region's largest automaker scrambles to meet demands from regulators.
United Airlines
United Airlines parent United Continental reported Thursday third-quarter profit that missed estimates as the strong dollar pulled down revenues.
USA Home Resales
US home resales rose more than expected in September to the second highest monthly sales pace since February 2007, suggesting the housing market continues to show strength compared to the rest of the economy.
Thursday, October 22, 2015
Honda
Honda said Wednesday it would put a commercialised self-driving car on the road by 2020, challenging rivals Toyota and Nissan which are also betting on the future of autonomous vehicles.
Boeing
Boeing earnings soared in the third quarter and the company hiked full-year forecasts on Wednesday as aircraft deliveries picked up to record levels on its huge backlog of orders.
Bahri
National Shipping Company of Saudi Arabia (Bahri) is in talks with banks to raise around 2.8 billion riyals (US$747 million) from a long-term loan to be used towards vessel financing, two sources aware of the matter said on Wednesday.
Wednesday, October 21, 2015
COE 21 October 2015
Category A - for cars below 1,600cc or 130 hp - climbed S$1,300 to S$57,301, while Cat B - for cars above 1,600cc and 130 hp - increased by S$1,699 to S$59,889.
Cat E - the open category which currently tracks Cat B - was S$1,199 higher at S$60,000.
Cat D - for motorcycles - inched up S$101 to S$6,302. Only Cat C - for goods vehicles - slipped; it was S$2,587 lower at S$42,303.
Google Inc
Google Inc is making its first direct investment in a Chinese firm, an artificial-intelligence startup, since mostly quitting the country in 2010 over censorship concerns.
IBM
Shares of International Business Machines Corp hit a five-year low on Tuesday, a day after the company's lacklustre results and forecast showed that it would be a while before its focus on lucrative cloud computing business makes up for revenue lost to divestitures.
Ferrari
Luxury carmaker Ferrari's initial public offering could be priced as high as US$53 per share, CNBC reported, citing sources.
Tuesday, October 20, 2015
Nordic Group
Nordic Group's wholly owned subsidiaries have secured new orders worth S$4.1 million.
They include contracts and letters of confirmation from repeat customers for jobs that are expected to be completed by second quarter of next year. The works involve supplying and installing valve remote control systems, tank gauging systems and anti-heeling system.
Amazon
Amazon on Monday renewed its criticism of a New York Times investigation of the US online giant's workplace, saying the newspaper ignored and omitted key facts about the company.
Monday, October 19, 2015
Credit Suisse
Look for euro weakness next week, according to Credit Suisse Group AG.
That's because Mario Draghi, the European Central Bank president, is expected to signal further monetary easing by the central bank at its Oct 22 meeting in Malta, according to Credit Suisse, the top major currency forecaster for the four quarters ended June 30, according to Bloomberg rankings. The shared currency stalled last week after gaining for the previous two amid growing speculation that the US Federal Reserve won't increase interest rates any time soon.
Drones in USA
The US government will announce a new plan requiring anyone buying a drone to register the device with the Transportation Department, NBC News reported on Friday, citing unnamed sources.
China's Growth
A "sluggish" world economy is weighing on China's growth, President Xi Jinping said in an interview with Reuters ahead of his visit to the UK and the publication of his nation's third-quarter figures for gross domestic product.
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