Business
TikTok Shop US Employees told to work from home as layoffs loom
TikTok told US e-commerce staff to work from home on Wednesday (May 21) while awaiting emails regarding “difficult decisions,” suggesting…
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Business
Business
Should SingPost divest its headquarters building?
The share price of Singapore Post (SingPost) said it all about investors’ attitude towards the national postal service provider’s latest…
Business
Time’s not ripe for SingPost to sell its flagship building
The share price of Singapore Post (SingPost) said it all about investors’ attitude towards the national postal service provider’s latest…
Business
CATL’s 1.8-billion euro German plant boosts China’s invest-abroad bet
[SINGAPORE/BERLIN] More than two years ago on the outskirts of a medieval German town, China’s biggest EV battery company placed a…
Business
Yoma Strategic’s H2 profit falls 12.4% to US$18.3 million
Yoma Strategic Holdings posted a 12.4 per cent decline in net profit for the second half-year ended Mar 31 to US$18.3 million, from…
Business
Julius Baer faces US$156 million loan loss charge
Julius Baer Group said it’s booking another large loss from property developments it helped finance, just as the Swiss wealth manager is…
Business
Britain's M&S says cyberattack to cost US$400 million
British retailer Marks & Spencer said on Wednesday (May 21) a “highly sophisticated cyber” attack would cost it about US$403 million in…
Business
Singapore’s ultra-rich among wealthy Asians snapping up property in Dubai
Property cooling measures may have dampened housing demand here, but Singapore’s ultra-rich are among high net-worth individuals (HNWI)…
Business
Covid-19 testing demand surges as cases spike across Asia
Phase Scientific has developed the world’s first urine-based human papillomavirus test, and is planning to expand that business globally…
Business
Implementing AI in the Beauty Category to Scale With Speed
AI isn’t just a buzzword. It’s an industry-wide transformation. At WWD’s annual Beauty CEO Summit, David Greenberg, chief executive…
Business
Labubu maker Pop Mart flagged for global expansion potential; CGSI initiates coverage
[Hong Kong] CGS International (CGSI) has initiated coverage on Pop Mart’s stock with an “add” rating, citing the group’s transformation…
Business
Nvidia says US export controls on AI chips to China were ‘a failure’
The world’s second-largest economy to invest aggressively to develop a supply chain that does not rely on manufacturers outside the…
Business
Nvidia CEO praises Trump move to scrap some AI export curbs
US export controls on artificial intelligence (AI) chips to China were “a failure” as they have cost American companies billions of US…
Business
Toyota takes all-hybrid plunge with its best-selling US vehicle
Toyota Motor is scrapping the petrol-powered version of its best-selling vehicle in the US as the Japanese carmaker doubles down on its…
Business
Vietnam approves establishment of Sun PhuQuoc Airways
Vietnam’s Prime Minister, Pham Minh Chinh, has approved the establishment of a new airline, Sun PhuQuoc Airways, the official Vietnam News…
Business
Former Citigroup traders drop Hong Kong lawsuit on cost concerns
Two former Citigroup traders in Hong Kong abandoned their employment lawsuits after weighing the costs and difficulties of taking it to a…
Business
Temasek’s SeaTown to invest up to S$115 million in AddVita
SeaTown Holdings, an investment manager indirectly owned by Temasek, said on Wednesday (May 21) it is committing up to S$115 million in…
Business
SingPost names Teo Swee Lian as chairman-designate; Simon Israel to retire after 9 years at helm
She will assume the role at the conclusion of the postal services provider’s next annual general meeting Singapore Post (SingPost) has…
Business
Monetary Authority of Singapore MD says US$ assets irreplaceable
Factors that the market are paying attention to include any prospect for slower growth and higher inflation in America as well as cues on…
Business
PwC launches AI hub in Singapore with over US$4 million commitment
PwC launched an artificial intelligence (AI) hub in Singapore on Wednesday (May 21), committing more than US$4 million over a three-year…
Business
CapitaLand Investment launches 5 billion yuan China fund
CapitaLand Investment (CLI) on Wednesday (May 21) announced the launch of its first onshore master fund in China, the CLI RMB Master Fund,…
Business
Stocks to watch: CapitaLand Investment, CDL, SingPost, SIA Engineering, Delfi, SLB, Dasin Retail Trust
The following companies saw new developments that may affect trading of their securities on Wednesday (May 21). CapitaLand Investment…
Business
US sets the stage for duties on battery materials from China
The US Commerce Department set the stage for anti-subsidy duties on imports of key battery components from China, after concluding…
Business
Westpac to cut 1,500 jobs, simplify operations: report
The company says it regularly adjusts its workforce based on shifting investment priorities Westpac Banking Corp (Westpac) is planning to…