Boeing CEO presses turnaround as loss balloons to US$6 billion
BOEING CEO Kelly Ortberg laid out a turnaround plan on Wednesday (Oct 23), calling for a “fundamental culture change” at the struggling planemaker as its quarterly losses surged to US$6…
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Fashion
Singapore court orders trader to pay investor S$4.7 million after forex trade goes south
THE Singapore High Court has on Wednesday (Oct 23) ordered forex trader Leong Kai Rui to return S$4.7 million to investor Oan Chim Seng for breaching an investment agreement. Additionally,…
Stamford Tyres founder Wee Kok Wah dies at 78
He helmed the company for more than 50 years, growing it from a family-run business to a multinational firm operating in 11 countries STAMFORD Tyres founder Wee Kok Wah, the man behind one…
Hengrui Pharmaceuticals is said to weigh second listing in Hong Kong
JIANGSU Hengrui Pharmaceuticals is considering a second listing in Hong Kong that could happen as soon as next year, according to people familiar with the situation. The company is in…
ADIA to invest US$750 million in debt of India’s GMR Group
ABU Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, will invest about US$750 million in the debt of India’s GMR Group, giving it a foothold in one of the…
Vietnam plans capital injection into Vietcombank to support policy goals
VIETNAM is planning to inject 20.695 trillion (S$1.1 billion) of capital into state-owned commercial lender Vietcombank, the country’s biggest bank, to boost its capacity to support…
Heineken third-quarter beer volumes hit by weak Americas
HEINEKEN reported worse-than-expected beer volumes due to declines in the Americas and Asia-Pacific as consumers failed to ramp up spending. The Dutch brewer said on Wednesday (Oct 23)…
Hyundai testing novel hydrogen production as part of green push
HYUNDAI Motor’s plant in Georgia has been running its internal logistics operations using hydrogen and the South Korean automaker has been testing domestic production of the fuel using…
Ascott China forms JV with Jin Jiang Hotels to grow apartment hotel brands in China
THE China business segment of Ascott has entered into a joint venture (JV) with Jin Jiang Hotels to expand their respective apartment hotel brands in China. Ascott China will hold a 50 per…
SIA to codeshare more flights with Air India for enhanced travel options
They will add 11 Indian cities and 40 international destinations to their codeshare network SINGAPORE Airlines (SIA) and Air India will expand their codesharing partnership to offer…
Keppel Infrastructure Trust’s 9-month distributable income falls 60.1%
KEPPEL Infrastructure Trust (KIT) saw its distributable income year on year tumble 60.1 per cent to S$106.1 million for the first nine months of 2024 from S$266.1 million. The fall in…
Australia’s Qantas hits record high as Jefferies lifts price target
SHARES of Qantas Airways hit an all-time high on Wednesday (Oct 23) after Jefferies analysts hiked their price target on Australia’s flag carrier, on the back of low fuel costs and…
Changi Airport’s Q3 passenger movements up 10% on strong North Asia traffic
CHANGI Airport had 16.8 million passengers passing through its terminals in the third quarter of 2024, up 10 per cent from the year before. The figure was 97.4 per cent of passengers that…
Global uncertainties push safe-haven gold to record high
GOLD prices surged to a record high on Wednesday (Oct 23) as the conflicts in the Middle East and uncertainty surrounding the upcoming US election spurred demand for safe-haven assets.…
HSBC revamp by new CEO Georges Elhedery stumps staffers, investors alike
HSBC Holdings’ new chief executive officer just unveiled the biggest overhaul of the company in at least a decade, but it was missing some key details for employees and investors. There…
Stocks to watch: Mapletree Logistics Trust, CapitaLand Ascott Trust, Keppel Infrastructure Trust, Parkway Life Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 23): Mapletree Logistics Trust (MLT): The logistics real estate investment…
US banks brace for open banking era of consumer data sharing
US BANKS will now have to give customers access to their financial data after the top consumer watchdog finalised a long-awaited rule aimed at fuelling more competition for financial…
Air taxis take one step closer to reality with FAA rules
US AVIATION regulators released final safety rules for the nascent air taxi industry on Tuesday (Oct 22), crossing a key milestone for companies such as Joby Aviation and Archer Aviation…
McDonald’s linked to dozens of food poisonings, one death in US
ONE person has died and dozens have fallen sick following a severe E. coli outbreak linked to McDonald’s Quarter Pounder hamburgers, the US Centers for Disease Control and Prevention (CDC)…
Amazon sets ultra-low pricing plans for Temu rival store: The Information
AMAZON.COM is imposing severe price caps on what merchants can charge for their products on a new low-cost storefront that the e-commerce giant is preparing to launch, the Information…
BOE’s Bailey says tools need to improve to surveil non-banks
THE Bank of England needs to improve the ways it is able to track developments in the non-banking system, which is less transparent relative to the banking system, Bank of England governor…
OUE unit to issue S$50 million in fixed-rate green notes due 2029 at 4%
AN OUE subsidiary, OUE Treasury, has proposed to issue S$50 million in green notes due 2029 at a fixed rate of 4 per cent per annum, the property player said on Tuesday (Oct 22). The green…
3M raises profit forecast after quarterly beat on electronics demand
An uptick in demand for electronics used in vehicles and mobile phones boosted profit for the company 3M Co raised the lower end of its full-year adjusted profit forecast on Tuesday (Oct…
Moody’s raises full-year profit forecast above estimates on strong product demand
RATINGS agency Moody’s raised its full-year adjusted profit forecast above Wall Street estimates and posted a nearly 31 per cent rise in third-quarter earnings on Tuesday (Oct 22), on…