Business
Canned-food producer Del Monte Foods files for bankruptcy
The company has both liabilities and assets estimated between US$1 billion and US$10 billion Canned fruit company Del Monte Foods filed…
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Del Monte Foods files for bankruptcy; SGX-listed parent has over US$700 million exposure to US unit
Del Monte Pacific (DMP) is expected to take a body blow from the failure of its US unit as the latter accounts for a big chunk of its…
Business
Toyota delays EV plans to boost petrol-fuelled SUV output
Toyota Motor is tapping the brakes on plans to build electric vehicles (EVs) in the US to free up manufacturing capacity for a popular…
Business
Bezos unloads US$737 million of Amazon stock in year’s first sale
Jeff Bezos sold 3.3 million Amazon.com shares in recent days, netting US$736.7 million. The sale, which coincided with his star-studded…
Business
YZJ Financial incorporates YZJ Maritime Development as subsidiary at issued and paid-up share capital of US$100
Yangzijiang Financial released an update on Wednesday (Jul 2) that its proposed spin-off company Yangzijiang (YZJ) Maritime Development…
Business
Lendlease seeks S$3.4 million in arrears from Cathay Cineplexes: mm2 Asia
Embattled cinema chain Cathay Cineplexes on Tuesday (Jul 1) received a statutory demand from laywers representing the landlord of its…
Business
Cathay Cineplexes gets S$3.4 million payment demand from landlord of shuttered Jem outlet
Lendlease Global Commercial Reit is seeking arrears in connection to the cinema chain’s use of the mall’s premises, which are to be paid…
Business
Central banks are ditching the greenback: What’s in favour instead?
Central banks hold a variety of assets, each serving a specific purpose tied to their mandate of maintaining monetary and financial…
Business
Qantas says hit by ‘significant’ cyberattack
Australian airline Qantas said on Wednesday it was investigating a “significant” cyberattack, after hackers infiltrated a system…
Business
Hong Kong steps up defence of FX peg as fixed range tested again
The latest intervention will turn trader focus to the city’s interbank rates, known as Hibor. Hong Kong’s de-facto central bank ramped up…
Business
Stocks to watch: Nio, Lendlease Global Commercial Reit, mm2 Asia
The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 2): Nio: The electric vehicle…
Business
Stocks to watch: Nio, Yangzijiang Financial, Lendlease Global Commercial Reit, mm2 Asia
The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 2): Nio: The electric vehicle…
Business
Musk takes over Tesla’s Europe, US sales after Omead Afshar’s exit
Chief executive officer Elon Musk has assumed oversight of Tesla’s sales in Europe and the US following the departure of longtime deputy…
Business
Binance to keep hundreds of staff in Singapore despite crackdown
The world’s largest digital assets exchange Binance, plans to keep hundreds of remote workers in Singapore, despite a crackdown on…
Business
Tesla’s sluggish sales return to the fore after robotaxi debut
Tesla’s rally off the back of launching a limited driverless taxi service is about to be tested by what analysts expect will be another…
Business
US Federal Reserve must be ‘completely non-political’: Powell
The US Federal Reserve must be “completely non-political”, its chair Jerome Powell said on Tuesday, after President Donald Trump…
Business
This Oldsmobile Has A Living Room Inside
Read the full story on Backfire News We’ve seen concepts of cars with living room interiors, but this Oldsmobile Toronado really has just…
Business
Google hit with US$314 million US verdict in cellular data class action
A JURY in San Jose, California, said on Tuesday that Google misused customers’ cell phone data and must pay more than US$314.6 million to…
Business
Biggest US banks hike dividends, announce share buybacks after acing stress tests
US banking giants announced plans on Tuesday to raise their third-quarter dividends after clearing the Federal Reserve’s annual health…
Business
Oil settles up on signs of strong demand, investors await Opec+ decision
Oil prices edged higher on Tuesday as investors took stock of positive demand indicators, while also treading cautiously ahead of an Opec+…
Business
Europe: Shares end marginally lower as markets gauge trade talks, US tax bill
EUROPEAN shares ended slightly lower on Tuesday, with industrials and banks the biggest drags as investors weighed uncertainty over US…
Business
What Florida Car Buyers Must Know Before Signing Anything
Buying a car in Florida can be an exciting milestone, but it’s also a financial trap for the unprepared. The Sunshine State has its own…
Business
Court approves sale of 23andMe to nonprofit led by co-founder Anne Wojcicki
23andMe, a distressed genetic testing company that filed for bankruptcy this year, has received another potential lifeline. A bankruptcy…
Culture
How Did Kylie Page Die? Adult Film Star Who Appeared on Netflix Series Found Dead at Her Home Aged 28 as Tributes Pour In
Adult film star Kylie Page, who appeared in a Netflix docuseries focused on the porn industry, has unexpectedly died at the age of 28,…