China confirms trade deal framework reached with United States
[BEIJING/WASHINGTON] China confirmed on Friday (Jun 27) details on the framework of a trade deal with the US, saying Washington would lift “restrictive measures” while Beijing would…
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Fashion
UK made fewer vehicles for the fifth straight month in May as tariffs bite
Britain’s vehicle production declined from a year ago for the fifth successive month in May, industry data showed on Friday, as factory disruptions and US tariffs weighed on automakers. UK…
Nike profits sink but company says it is turning a corner
Nike reported sharply lower quarterly profits on Thursday, but signalled it was past the worst stage of a corporate retooling as it implements “surgical” US price increases to defray…
Oil inches up on US demand strength; fading Middle East supply risks offset gains
Oil prices edged higher on Thursday as crude inventories in the United States fell on higher demand as summer driving season ramped up, while concerns over Middle East supply risks eased,…
US: Stocks rise, S&P 500 ends just shy of record
Wall Street stocks rose on Thursday with tech equities leading, after the White House signalled President Donald Trump could extend a July tariff deadline. The shift shows…
Linet Vartanians: Wife of Iranian Illegal Immigrant Threatened to Shoot ICE Agents When They Reached Her Home to Arrest Husband
The wife of an Iranian illegal immigrant allegedly threatened to shoot ICE agents in the head when they showed up at the couple's Arizona home to arrest her husband, Mehrzad Asadi…
Wall Street forecasts windfall for big US banks from Fed plan to ease leverage rule
Large US global banks can expect as much as US$6 trillion in additional balance sheet capacity and billions in freed up capital under a Federal Reserve plan to relax leverage rules, Wall…
S-E Asia’s e-commerce platform gross merchandise value growth rate eases: report
South-east Asia’s total e-commerce platform gross merchandise value (GMV) grew at a slower rate of 12 per cent year on year in 2024, as the leading platforms focused on a more rational and…
Salesforce CEO says 30% of internal work is being handled by AI
Tech leaders have been increasingly vocal about the potential for AI to replace human workers Salesforce chief executive officer Marc Benioff said his company has automated a…
Amazon Web Services and Digital Industry Singapore launch programme to spur AI transformation
Amazon Web Services (AWS) and government agency Digital Industry Singapore (DISG) on Thursday (Jun 26) launched a programme to accelerate artificial intelligence (AI) transformation among…
Singapore stocks rise on Thursday amid mixed regional trading, STI up 0.3%
Local stocks ended higher on Thursday (Jun 26), amid mixed trading in the region. The benchmark Straits Times Index (STI) rose 0.3 per cent or 12.48 points to 3,938.46. Across the broader…
Singapore’s millionaire inflow to halve in 2025: report
Singapore will likely see a net inflow of 1,600 millionaires in 2025 – less than half the 3,500 that had been projected to move there in 2024, a report by investment migration consultancy…
Indonesia working on new e-commerce tax rule in bid to target 'shadow economy'
Indonesia is working on a new regulation that will require e-commerce platforms to collect and pass on sellers’ sales income in a bid to tackle the “shadow economy”, its tax office said on…
AEM raises H1 FY2025 revenue guidance to up to S$195 million on pull-in of customer orders
It will provide guidance for the second half of the year when it reports its earnings on Aug 13 Semiconductor test solutions provider AEM has raised its revenue guidance for the first half…
Top Glove Q3 profit slides 31% to RM34.7 million despite higher revenue
Malaysian glove maker Top Glove on Thursday (Jun 26) posted a net profit of RM34.7 million (S$10.5 million) for its third quarter ended May, 31 per cent down from a profit of RM50.7…
Bank of Korea overhauls repo framework amid changing liquidity conditions
The Bank of Korea (BOK) said it’s revamping its open market operation framework to increase its operational flexibility to manage liquidity, stabilise short-term rates, and respond during…
US dollar slips as Trump considers naming next US Fed chair early
The US dollar dipped amid an increase of bets on US interest-rate cuts due to growing expectations that the next US Federal Reserve chairman is likely to ease monetary policy earlier than…
Mars US$36 billion Kellanova deal waved ahead by US regulator
Mars’ US$36 billion takeover of snack maker Kellanova was given the green light by the US Federal Trade Commission (FTC) on the same day European Union regulators opened up a lengthy probe…
Civmec set to acquire ship manufacturer Luerssen Australia for A$20 million
Construction and engineering services provider Civmec will purchase Luerssen Australia from Naval Vessels Luerssen (NVL) Australia for A$20 million (S$16 million) in cash, the company said…
SGS bond demand to stay high as safe havens sought amid tariff risks, Middle East tensions: RHB
Demand for Singapore Government Securities (SGS) bonds is set to stay high amid investor caution, as traders flock to safe havens on tariff uncertainty and Middle East tensions, an RHB…
Microsoft and OpenAI dueling over artificial general intelligence: report
OSOFT and OpenAI are at odds over a contractual provision related to artificial general intelligence, The Information reported on Wednesday. Under the current terms, when…
Shell says it isn’t in talks to take over oil rival BP
Speculation has been growing that the embattled company would become a takeover target Shell denied The Wall Street Journal report that it is in active talks about acquiring its…
Xiaomi launches YU7, undercutting Tesla’s Model Y on price
Chinese EV and smartphone maker Xiaomi on Thursday (Jun 26) priced its new electric YU7 SUV from 253,500 yuan (S$45,102), almost 4 per cent below Tesla’s Model Y, stepping up the challenge…
US Federal Reserve releases plan to relax key bank capital rule
The US Federal Reserve unveiled plans to roll back an important capital rule that big banks have said limits their ability to hold more Treasuries and act as intermediaries in the US$29…