Money

China's antitrust push won't bring an 'explosion of cases' against online companies, professor says

Shares of Chinese tech giants dropped earlier in November after draft rules that defined for the first time what constitutes anti-competitive behavior were released.


Hedge-Fund Copycats Rally as Academics Defend Embattled Strategy

Investing products designed to bring hedge-fund strategies to the masses are on course for one of their best months in more than a decade, as the latest research argues the oft-maligned trades have robust foundations.


Singapore Airlines raises offer price of 10-year bond issue to $500m

It was initially launched at an offer size of $300m. Singapore Airlines has increased the offer size of its 10-year bond issue from $300m to $500m after what the company saw that a "strong appetite was apparent from a select group of private investors." The 10-year bonds will carry a competitive coupon of 3.5% per annum. "This issuance further strengthens the Company's liquidity position, and the proceeds will be used for general purposes...


Cost To Own a Car for a Year in Every State

Owning a car is a necessity for many, but it’s costly. GOBankingRates looked at the true cost to own a car for a year in the U.S. How does your state stack up?


SCOR CEO sees double-digit reinsurance rate rises

SCOR CEO sees double-digit reinsurance rate rises


Biden will likely have to reimagine the future of U.S. economic leadership in Asia, says expert

The U.S. is not party to either of the massive trade agreements signed by countries in the Asia-Pacific: TPP and RCEP.


Market Update: STI closes at near 9-month high

The Straits Times Index extended its gains for a third consecutive day on Tuesday, ending up by 42.85 points or 1.5% at 2,891.63. The advance of the Singapore bourse continued as investors' sentiment remained lifted by the hopes that COVID-19 vaccine might be made available soon. On Monday, the biopharmaceutical company AstraZeneca announced that its vaccine could be up to 90% effective, joining Pfizer and Moderna in delivering positive results....


UOB to issue €1b covered bonds due 2027

This is the first euro-covered bond in Singapore in two years. United Overseas Bank (UOB) will issue $1.6b (€1b) 0.01% covered bonds due 2027 under its US$8b global covered bond programme.


Insurance Singapore Guide — All You Need to Know Before Buying Your First Plan

When you’re young and naive and believe that everything will work out somehow, it’s pretty hard to imagine ever needing to buy insurance. Yet, getting your insurance portfolio in order is probably one of the best things you can do for your finances. And in fact, it’s best to do it while you’re young and healthy. To help you make sense of the world of insurance so you can compare the different insurance plans, we have crafted this comprehensive...


Asian shares rise after Dow crests 30,000 on vaccine hopes

TOKYO (AP) — Asian shares rose Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time despite an ongoing pandemic, as progress in development of coronavirus vaccines kept investors in a buying mood. Japan's benchmark Nikkei 225 jumped 1.7% to 26,607.63 in morning trading. Australia's S&P/ASX 200 gained 0.7% to 6,691.80. South Korea's Kospi added 0.5% to 2,630.04. Hong Kong's Hang Seng surged 1.3% to...


How To Get Out of a Car Loan You Can’t Afford

Balances on car loans increased by $17 billion in the third quarter of 2020, according to the Center for Microeconomic Data’s September 2020 report on household debt. The same report showed...


California regulator flags concerns over PG&E's wildfire safety measures

California regulator flags concerns over PG&E's wildfire safety measures


India will likely go for bilateral trade pacts for now — not mega deals like RCEP

India was part of the early negotiations for RCEP but said last year it would not join the world's largest trading bloc.


Credit Suisse says regulatory risks are unlikely to stop China's tech companies from growing in 2021

Credit Suisse predicted China will record 2.2% growth for 2020, followed by a sharp jump to 7.1% in 2021.


Virus outbreak delays production at world's top glove maker

KUALA LUMPUR, Malaysia (AP) — Malaysia’s Top Glove Corp., the world’s largest maker of rubber gloves, said Tuesday it expects a two-to-four-week delay in deliveries after more than 2,000 workers at its factories were infected by the coronavirus, raising the possibility of supply disruptions during the pandemic. Top Glove said it has temporarily stopped production at 16 factories in Klang, a town outside Kuala Lumpur, since Nov. 17 to screen...


20 ways people accumulate debt

Modern life is full of small, subtle overspending traps. Debt can pile up for all kinds of reasons—poor communication with a partner or spouse, a lack of organization in the kitchen, overdoing it during the holidays—but, thankfully, if you’re on the lookout for these potential traps, you’ll be able to ward them away with a little planning and creativity.


Digital Colony Teams Up With Ex-Edotco CEO for Asia Towers Bet

Digital Colony formed a partnership with former Edotco Group Sdn Bhd. Chief Executive Officer Suresh Sidhu to invest in mobile towers in the Asia-Pacific region, according to people with knowledge of the matter.


Air Travel Hits COVID-19-Era Records Ahead of Holiday

As we enter fall, COVID-19 is making a resurgence all over the U.S. right in time for the holiday season. To get a handle on the spike, the Centers for Disease Control and Prevention (CDC) has urged...


Credit stress hurts new money going into China's massive infrastructure project, says Moody's

The coronavirus pandemic has caused financial strains in many small economies participating in China's Belt and Road Initiative, said Moody's.


Businesses still in trouble if tourists don't return by 2021: survey

Singapore businesses call on local shoppers for support. A staggering 90% of businesses surveyed in Singapore said that sustainability is likely to be severely to moderately impacted if tourists do not return by mid-2021 despite reporting improved sales in September and October, according to the American Express Business Recovery Research for Singapore. More than half of the 300 local business decision makers surveyed said that their business...


MAS unveils loan grant to help corporates obtain green financing

The grant offers up to $180,000 coverage of expenses. The Monetary Authority of Singapore (MAS) has launched the Green and Sustainability-Linked Loan Grant Scheme (GSLS), which seeks to support corporates of all sizes to obtain green and sustainable financing. The grant, which takes effect beginning 1 January 2021, offers up to $180,000 coverage of expenses for corporates to engage independent service providers to validate the green and...


Singapore Pushes Digibanks in Face of China, U.S. Crackdown

Singapore’s financial regulator will stick with its plans to award digital banking licenses by the end of the year, undeterred by tightening scrutiny in China and the U.S. that’s hitting major Chinese applicants.


Black Friday Sales To Skip

Black Friday arrived early this year, and new deals are flooding in at an almost overwhelming rate. As the retail sector struggles to stay afloat in an economy ravaged by COVID-19, stores are touting...


Global stocks edge lower after Dow crests 30,000

TOKYO (AP) — Global shares mostly edged back on Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time as investors cheered news of progress on the development of coronavirus vaccines. The Dow appeared set to edge back from its record high on the open, with futures down 0.3%, while S&P 500 futures were 0.2% lower. In Europe, markets lost early gains after Asia largely closed lower. Germany's DAX shed...


What Lawyers Earn in Every State and D.C.

Attorneys are paid well — about three times the average wage for all jobs. But lawyers' pay varies a lot from state to state.


How To Recreate the Most Expensive Thanksgiving Meal Ever on the Cheap

This year, many of us will be enjoying a scaled-down Thanksgiving. There might be turkey (or maybe just turkey breast) and sweet potatoes, but you may be starting traditions all your own. Why not...


Stimulus Can’t Stay Forever, MAS Head Warns Global Policy Makers

The global economic recovery from the pandemic is heading into a critical period as nations balance the need to prop up consumers and businesses against the threat of unmanageable debt, Singapore’s central bank chief said.


Turn Your $10 Bag of Potatoes Into 21 Delicious Dishes

A pantry staple, the humble potato is as good roasted and sprinkled with rosemary as it is sliced and deep-fried into french fries. Potatoes aren’t just extremely versatile — they’re...


Jets help empower women with online job mentoring event

Annette Guzman-Torres was feeling discouraged and frustrated, her anxiety fueled by the uncertainty of a bleak job market during the coronavirus pandemic. The 44-year-old married mother of two boys is close to finishing the capstone project for her doctorate from Capella University. She has a 3.77 GPA, is a member of The National Society of Leadership and Success and has big professional dreams. But Guzman-Torres was furloughed from her...


Exclusive: India import hurdles hit Apple iPhone, Xiaomi devices from China, say sources

Exclusive: India import hurdles hit Apple iPhone, Xiaomi devices from China, say sources


Singapore Oil Tycoon Who Founded Hin Leong Denies HSBC's Forgery Claim

Oil Tycoon Lim Oon Kuin, founder of troubled Singaporean oil trader Hin Leong, denied allegations by the company’s biggest creditor that he used forged documents to obtain financing.


OCBC pilots increased green finance framework for SMEs

SMEs will no longer need to develop frameworks prior to applying. OCBC has launched a framework that would grant an increased sustainable financing of up to $20m for SMEs, a statement read. The OCBC SME Sustainable Framework is for SMEs that are involved in sustainable activities across eight green project categories eligible under the Green Loan Principles by the Loan Market Association.


ComfortDelGro recovery in 2021 likely: analyst

Resurgence of COVID-19 cases still a threat for the company. Transportation group ComfortDelGro (CDG) is well on its way to recovery after a significant slowdown of transport activities in April and May. In a report, OCBC Investment Research noted gradual recovery in most geographies in which the transport company operates in. This was seconded by head of research at Phillip Securities Research, Paul Chew, who said that ComfortDelGro's revenue...


Asia is leading the way in travel recovery, says bookings platform Agoda

The best pockets of recovery are domestic travel in Taiwan, Thailand and increasingly, Vietnam, said John Brown of Agoda, a subsidiary of Booking Holdings.


Tesla issues two recalls covering 9,500 U.S. vehicles: NHTSA

Tesla issues two recalls covering 9,500 U.S. vehicles: NHTSA


Malaysia’s Coronavirus Resurgence Hits Top Glove Maker’s Plants

The world’s biggest rubber-glove producer is now at the heart of Malaysia’s recent coronavirus resurgence, potentially threatening production of one of the most crucial pieces of protective equipment needed to fight the pandemic and the country’s broader economic recovery.


Clariant plans to cut 1,000 jobs amid divestments

Clariant plans to cut 1,000 jobs amid divestments


22 Filthy Rich People Who Will Give Away Their Fortunes

Find out why these rich folks have made this very public decision.


Americans turn up heat and Cholula sells for $800 million

With millions dining at home for safety and a swing to the spicier side in the U.S. in recent years, Cholula, the hot sauce with the distinctive wooden cap and a cult following, has become a very valuable brand. McCormick & Co., the spice maker that dominates U.S. grocery shelves, said Tuesday that it was buying Cholula for $800 million from L Catteron, a private equity firm. McCormick made a notable tilt toward the hot sauce shelf three years...


China Return, Mnuchin Corners Yellen, Singapore Warning: Eco Day

Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:


Home Depot agrees to $17.5m settlement in 2014 data breach

BOSTON (AP) — Home Depot has reached a $17.5 million settlement with the attorney generals of 46 states and the District of Columbia over a 2014 data breach that exposed the payment card information of some 40 million customers. The Massachusetts Attorney General’s office detailed the settlement in a statement Tuesday, saying Home Depot agreed under its terms to employ a full-time chief information security officer among other measures....


When will the world reach ‘herd immunity'? Citi weighs in

An analysis by Citi Research showed that "herd immunity" start to form in the fourth quarter of 2021, beginning with developed markets.


Textron to sell part of flight simulation unit to Canada's CAE for $40 million

Textron to sell part of flight simulation unit to Canada's CAE for $40 million


How Much Does a Float in the Macy’s Thanksgiving Day Parade Cost?

COVID-19 has put a halt to many annual traditions in 2020, but the Macy's Thanksgiving Day Parade isn't one of them. The parade will take place as usual and get beamed into millions of homes...


Italy's antitrust probes Benetton for possible abuse in franchising contracts

Italy's antitrust probes Benetton for possible abuse in franchising contracts


9 Mistakes Everyone Makes When Shopping on Amazon

Are you losing money due to any of these missteps?


Malaysia's Top Glove says virus outbreak may push prices up

KUALA LUMPUR, Malaysia (AP) — Malaysia's Top Glove, the world's largest maker of rubber gloves, said Wednesday that supply disruptions at its factories due to an outbreak of the coronavirus may push glove prices up. The company said it shuttered 20 of its factories in an area outside Kuala Lumpur in stages since Nov. 17 after nearly 3,000 workers tested positive for the virus. Another eight facilities in the same area are currently running below...


Top 5 Cities Where Rent Has Become More Affordable

Cities on both coasts dominate the list.


Shell UK gender pay gap narrows slightly in 2020

Shell UK gender pay gap narrows slightly in 2020


Mapletree to develop Grade A warehouse development in Japan for $550m

It is set to be the largest logistics warehouse space in Kyushu. Mapletree Investments has acquired a plot of land in Fukuoka, Japan to build a Grade A warehouse development with a slated total investment of $550m. The land, measuring a total of 116,319 square meters (sqm), will be transformed into two blocks of four-storey, double ramp-way logistics facilities with a combined gross floor area of 231,648 sqm.