UK to launch new watchdog next year to police tech giants

LONDON (AP) — Britain plans to create a new watchdog to police big tech companies including Google and Facebook to counter their market dominance and prevent them from exploiting consumers and small businesses. The U.K. government said Friday that it's setting up a “Digital Markets Unit" next year to enforce a new code of conduct governing the behavior of tech giants that dominate the online advertising market. The Digital Markets Unit,...

Strong recovery expected for real estate: study

Recovery is still threatened by prolonged global lockdown. Singapore placed fifth in terms of geographical markets and is expected to attract the most real estate investments in 2021, according to Savills Investment Management's latest survey. The study has reiterated that Singapore stands out as one of the key markets expected to attract stronger investments.

How To Budget and Plan For a Vacation in 2021

For many of us, 2021 seems like the light at the end of a long tunnel. We’ve been chilling (primarily indoors) since March, and though it may not yet be the safest idea, many of us have already...

Billionaire Ray Dalio Set to Open Family Office in Singapore

Ray Dalio, the billionaire founder of Bridgewater Associates, is opening a family office in Singapore to run his investments and philanthropy throughout the region.

JPMorgan says investors are underinvested in Southeast Asia and could miss out on opportunities

So far in 2020, markets in Southeast Asia have largely been among the worst performing.

Palm Oil’s Stunning Rally Is Set to Boost Supermarket Prices

One of the world’s most popular raw materials is as expensive as it’s been in eight years, a rally that points to higher food prices -- and backsliding on biofuel initiatives -- in the months to come.

Nine in 10 households ‘satisfied' with power retailers

Almost half of 1.4m households switched to buying electricity from retailers. At least nine in 10 household accounts are satisfied with services provided by power retailers, with 97% stating that they are satisfied before they signed up or renewed their contracts and 91% being satisfied after, according to the latest consumer satisfaction survey by the Energy Market Authority (EMA). This comes after almost half of 1.4 million household accounts...

Black Friday sees record online as US shoppers stay home

Black Friday online sales hit a new record this year as pandemic-wary Americans filled virtual carts instead of real ones. Consumers spent an estimated $9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. That was a 22% increase over the previous record of $7.4 billion set in 2019. Meanwhile, traffic to physical stores plummeted as retailers tried to prevent crowds by cutting their hours...

Anger Grows at Hong Kong’s Erratic Covid Rules as Cases Mount

As Hong Kong battles a new wave of coronavirus infections with yet another round of social restrictions, a sense of fatigue with the confusing and inconsistent nature of the city’s pandemic response is setting in among business-owners and residents.

Winter jackets and other items you should never buy at full price

Buying a bike in the off season, getting your dream mattress at a discount, purchasing wine by the case—there are ways to avoid emptying your wallet without missing out on the things you enjoy. A few minutes of research, some savvy tips, and a little flexibility will keep your money in the bank and a smile on your face. Life doesn’t wait, but when you do, there are savings to be had.

20 ways poverty affects your health

Research has shown that individual health isn’t just determined by a person’s luck in the genetic lottery, or their desire to eat well and stay fit. In fact, the largest factor in a person’s health and well-being is poverty. In other words, it’s not healthy to be poor. Here are 20 ways that poverty affects your health.

For Big Tech, Biden brings a new era but no ease in scrutiny

WASHINGTON (AP) — The Obama-Biden administration was a charmed era for America's tech companies — a moment when they were lionized as innovators, hailed as job creators and largely left alone. Now Joe Biden is coming back, this time as president. But times have changed. The halcyon days of an adoring Washington are unlikely to return when Biden takes the oath of office in January, with mounting legislative and regulatory challenges to the...

DBS disburses record $9m in SE loans, grants

It's the bank's largest disbursement of SE loans, grants within a year. DBS Bank has disbursed a record $9m in loans and grants for social enterprises (SEs) in 2020. The bank's foundation arm DBS Foundation has awarded $1.4m in grant funding to 13 SEs from Singapore, China, Hong Kong, India, Indonesia, and Taiwan in the 2020 cycle of its DBS Foundation Social Enterprise Grant Programme. The 13 SEs were chosen from a record 820 applications...

China is an opportunity for India — not a threat, Beijing says as more apps are banned

India has blocked at least 220 Chinese mobile apps, some of them made by China's prominent consumer-facing tech companies like ByteDance, Tencent and Alibaba.

Struggling Chains That May Not Make It to 2021

The coronavirus pandemic has led to a string of bankruptcy filings and closures in 2020, and many of the businesses that remain open could have a long road to recovery. A McKinsey & Company...

Former Zappos CEO Tony Hsieh dies at 46

Former Zappos CEO Tony Hsieh dies at 46

MAS, IBF roll out measures to boost jobs in finance

The regulator will cover up to $1,000 of stipend under their internship programme. The Monetary Authority of Singapore (MAS) and the Institute of Banking & Finance (IBF) has announced a new series of measures for the development of Singaporean workers in the financial sector. Along with these, MAS and IBF co-launched a series of webinars and events which serves as a forum to discuss key manpower issues in the financial services sector. At the...

Many turn to real Christmas trees as bright spot amid virus

PORTLAND, Ore. (AP) — Ani Sirois, a respiratory nurse, has spent months caring for coronavirus patients at a Portland, Oregon, hospital, and she's only getting busier as infections — and hospitalizations — surge before the holidays. But on a recent sunny day, COVID-19 seemed far away as she, her husband and their 2-year-old daughter roamed a Christmas tree farm in search of the perfect evergreen for a holiday season unlike any other. The family...

Overall job postings recovering: job platform

Recovery is concentrated on certain industries and roles. New Singapore data from global job platform Indeed shows overall job postings are recovering, being only 6% behind where they were in the same period last year. However, Indeed data shows the recovery is concentrated on certain industries and roles. Software development (-8.8%), real estate (-7.5%), engineering (-6.4%), and security roles (-4.2%) are bouncing back, having lower than...

Goods and Services That Will Be More Expensive in 2021

The COVID-19 pandemic has had a significant impact on the U.S. economy, shutting down businesses, stalling industries and wiping out jobs. From disrupting supply chains to delaying the time it takes...

UniCredit board holds governance talks as future of CEO in question

UniCredit board holds governance talks as future of CEO in question

Deutsche Bank sees trade finance at pre-COVID levels by mid-2021

Deutsche Bank sees trade finance at pre-COVID levels by mid-2021

US agency investigating Tesla front suspension failures

DETROIT (AP) — The U.S. government's road safety agency is investigating complaints that suspensions can fail on nearly 115,000 Tesla electric vehicles. The National Highway Traffic Safety Administration says it has 43 complaints that linkages near the ball joints can fail, allowing contact between the tire and wheel liner. The probe, announced Friday on the agency's website, covers 2015 through 2017 Model S sedans and 2016 through 2017 Model X...

Airbus re-sells six unwanted jets built for AirAsia

Airbus re-sells six unwanted jets built for AirAsia

30 Jobs That Will Soon Be Gone for Good

As industries disappear, these jobs may not be around for much longer.

Tony Hsieh, retired Zappos CEO, dies at 46 after house fire

LAS VEGAS (AP) — Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer, who spent years working to transform the city's downtown area, has died. He was 46. Hsieh was with family when he died Friday, according to DTP Companies, which he founded. He died of injuries suffered in a Nov. 18 fire in New London, Connecticut, Downtown Partnership spokesperson Megan Fazio told Hearst Connecticut Media on Saturday. The Day...

Hyundai, Kia agree to $210 million U.S. auto safety civil penalty

Hyundai, Kia agree to $210 million U.S. auto safety civil penalty

Tech Stocks Are Slowly Gaining Prominence in Singapore’s Market

Technology stocks, the lack of which has made Singapore one of Asia’s worst markets this year, are slowly starting to win more clout in the city-state.

Canada blocks bulk exports of some prescription drugs in response to Trump import plan

Canada blocks bulk exports of some prescription drugs in response to Trump import plan

Asian stocks fall amid unease about vaccine development

BEIJING (AP) — Asian stock markets declined Friday as questions about the effectiveness of one possible coronavirus vaccine weighed on investor optimism. Benchmarks in Tokyo, Hong Kong, Seoul and Sydney retreated while Shanghai gained. Investors have been encouraged by reports of progress toward a possible vaccine. But they were uneasy after researchers questioned data that showed a candidate from the University of Oxford and AstraZeneca was 70%...

Airlines’ Digital Push Also Helps to Shed Weight, Cut Fuel Costs

The coronavirus pandemic has accelerated airlines’ digital uptake as carriers look for ways to reduce human touchpoints. But that push has had another impact, too. It’s reduced cabin weight, and that can mean big cost savings.

How To Rebound From a Bad Financial Year in 2020

COVID-19 is raging out of control and worse than it's ever been, but a vaccine appears to be on the horizon and a change in political leadership could bring fresh ideas and new strategies. Either way,...

Virus keeps Black Friday crowds thin, shoppers shift online

NEW YORK (AP) — The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into bankruptcy. In normal times, Black Friday is the busiest shopping day of the year, drawing millions of people eager to get started on their holiday spending. But these are not normal...

World’s largest medical glove maker becomes the epicenter of Malaysia’s Covid resurgence

Top Glove has shut 20 manufacturing sites in Malaysia after thousands of workers tested positive for the coronavirus disease.

10 Ways To Bounce Back From a Heavy Spending Month on Your Credit Card

We’re coming up on the holiday season -- and between buying all the things you need to keep yourself safe and healthy indoors this winter, you’re probably also hitting that...

STI Investing reaches $2b milestone

The Index saw increased long-term passive investor participation through its two ETFs. STI Investing has reached the $2b milestone, according to a Singapore Exchange (SGX) update on 26 November. "Within the STI, the five stocks DBS, UOB, OCBC, SATS and Ascendas REIT have seen the highest net institutional inflows so far this month, with their average 23% gains driven by $1.4b of net institutional inflows," said SGX. Altogether, the 30 stocks...

Best Early Bird Holiday Shopping Deals

If you’re a seasoned Black Friday shopper, it’s probably not news to you that Black Friday is going to be different this year. Many retailers have thrown out their playbooks and are...

Pandemic pushes Peru's vital peasant farmers to the brink

PISAC, Peru (AP) — Under a punishing Andean sun, Nazario Quispe digs his plow into the soil where he is growing dozens of different potato varieties — uncertain when he will be able to afford the seeds and supplies to sow them again. Farmers like Quispe are responsible for the food that lands on 70% of Peruvian dinner tables, officials say, but months of pandemic lockdown and a souring economy have left many bankrupt and questioning whether to...

What Experts Say 2021 Will Look Like for Your Wallet

2020 has been one for the books, and not for any particularly good reasons. The year kicked off with the Australian wildfires, ushered in the first global pandemic in more than 100 years and plunged...

American billionaire Ray Dalio to open Singapore family office

Asian family offices have surpassed global peers due to Chinese stocks. American billionaire Ray Dalio, founder of asset management firm Bridgewater Associates, is opening his family office in Singapore to run his investments and philanthropy throughout the region, reports Bloomberg. Dalio has long ties to Asia and the Lion City and felt it was "high time" to open a family office here, a spokesperson said. With a net worth of more than $20b...

Singapore IPO activity ‘bright' amidst market risks

Singapore raised US$852m in proceeds from eight IPO deals so far this year. Total initial public offering (IPO) activities in Southeast Asia for almost 11 months this year raised US$6.44b from 100 IPOs despite a host of uncertainties. Amidst the decrease of the number of IPOs by 38% from 2019 and of the IPO proceeds by 12% from US$7.34b, the total IPO market capitalisation this year inched up 3% to US$25.96b. Singapore saw its largest homegrown...

Singapore Finds First Local Covid-19 Case After Nearly Two Weeks

Singapore confirmed its first case of locally transmitted Covid-19 in almost two weeks, the country’s Ministry of Health said in a statement.

Philippine Peso Tipped for December Gains on Record Remittances

The Philippine peso, which lagged behind its peers in Asia this quarter, may get a boost in December with millions of Filipinos abroad set to send record amounts of money home to help families suffering from the pandemic and the recent typhoons.

India Risks Losing to Trade Bloc Defeating Very Reason It Exited

India’s key manufacturing exports may lose market share to a China-backed Asian trade bloc, from which Prime Minister Narendra Modi walked away last year to protect the interests of local farmers and industry.

GM plans to seek banking charter for auto-lending business: WSJ

GM plans to seek banking charter for auto-lending business: WSJ

Commerzbank reshuffle continues with new head of corporate business

Commerzbank reshuffle continues with new head of corporate business

Industries That Made Their Mark in 2020

The headlines in 2020 have been dominated by the global coronavirus pandemic. Beyond the tragic cost in human lives, the pandemic has also shut down businesses around the world and wreaked economic...

Exclusive: VW CEO pushes for contract extension in vote of confidence move - sources

Exclusive: VW CEO pushes for contract extension in vote of confidence move - sources

Hong Kong, Singapore Office REITs Live On in Post-Virus World

The office may never reach its past heights in the post-pandemic world but the outlook for Singapore and Hong Kong offices is promising.

India is headed for a technical recession — and the road to recovery will be long, analysts say

Economists in a Reuters poll predicted that India's economy shrank 8.8% in the September quarter.