HONG KONG (BLOOMBERG) – A raft of funds and financiers in Asia is leveraging their deal-sourcing capabilities and understanding of US capital markets to jump on one of the hottest bandwagons on Wall Street – special-purpose acquisition companies or SPACs. Among them are former Deutsche Bank and Lehman Brothers banker Joaquin Rodriguez Torres, who is […]

WASHINGTON (AFP, REUTERS) – Progressive US senators Bernie Sanders and Elizabeth Warren called on Sunday (Jan 31) for action against what they said were the Wall Street abuses by hedge funds revealed by the recent frenzy over GameStop shares. “We need an SEC investigation,” Ms Warren told CNN, referring to the federal Securities and Exchange […]

SINGAPORE – A 36-year-old permanent resident who was preparing to depart for India was one of Singapore’s reported Covid-19 cases on Sunday (Jan 31). The Ministry of Health (MOH) said the man had returned from a trip to India on Dec 19 last year, and served his stay-home notice at a dedicated facility until Jan […]

SINGAPORE – Here’s what a Workforce Singapore career coach says: A resume is a space for you to communicate your story and it is the employer’s first impression of you. Whether you are applying for a job with or without experience, it is crucial to ensure that your resume provides what the prospective employer is […]

NEW YORK • The United States Securities and Exchange Commission (SEC) waded into the battle between small investors and Wall Street hedge funds, warning brokerages and social media traders it was on alert for any wrongdoing in last week’s roller-coaster trade. GameStop shares rallied again, awarding retail investors the advantage in the latest round of […]

It’s not the law that makes the administration of wills complicated, but people like us, with all our faults and foibles. Issues arise because the testators (owners of the wills) have not given enough thought to individuals who could cause trouble after their deaths. Please subscribe or log in to continue reading the full article. […]

SINGAPORE – Environmental sustainability is a hot topic now, but the history of the environmental services sector in Singapore is quite short compared with European countries, Japan or South Korea, says Mr Lim Chin Khuang. Still, the Republic has made strides in that area, says the managing director of environmental services company Tee Environmental. “There’s […]

NEW YORK • In mid-2019, a Reddit user – known as “Roaring Kitty” on some social media accounts – posted a picture on an online forum depicting a single US$53,000 (S$70,000) investment in video game retailer GameStop. The post attracted little attention, except from a few people who mocked the bet on the struggling company. […]

NEW YORK (NYTIMES) – In mid-2019, a Reddit user – known as “Roaring Kitty” on some social media accounts – posted a picture on an online forum depicting a single US$53,000 (S$70,000) investment in the video game retailer GameStop. The post attracted little attention, except from a few people who mocked the bet on the […]

NEW YORK (REUTERS) – The US Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday (Jan 29), warning brokerages and social-media traders it was on alert for any wrongdoing in this week’s roller-coaster trade. GameStop shares rallied again, awarding retail investors the advantage in the latest […]

Local shares closed lower yesterday to mark a second week in the red amid a decline across the region. The uncertain sentiment left the benchmark Straits Times Index (STI) down 0.6 per cent or 17.78 points at 2,902.52 and 3 per cent or 89.01 points off for the week. “The mood has become quite gloomy […]

WASHINGTON • The United States economy contracted at its deepest pace since World War II in 2020 as the Covid-19 pandemic depressed consumer spending and business investment, pushing millions of Americans out of work and into poverty. Though a recovery is under way, momentum slowed significantly as the year wound down amid a resurgence in […]

The business expectations of firms in both the manufacturing and services sectors turned positive after a year of gloom, with sentiments boosted by the start of Covid-19 vaccinations across countries. Their sentiments were captured in the latest quarterly surveys, whose findings were released separately by the Economic Development Board (EDB) and Department of Statistics (SingStat) […]

SINGAPORE (REUTERS) – Asian stock markets recovered on Friday (Jan 29) but are headed for their steepest weekly loss in months, as a liquidity squeeze in China and a Wall Street retail-trading frenzy has unnerved investors. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 per cent, but is headed for a weekly loss […]

SINGAPORE (THE BUSINESS TIMES) – CapitaLand China Trust (CLCT), the largest China-focused Singapore real estate investment trust (Reit) which was formerly known as CapitaLand Retail China Trust, on Friday (Jan 29) posted a distribution per unit (DPU) of 3.33 cents for the second half of the financial year ended December 2020. CLCT’s name change from […]

BENGALURU (REUTERS) – WeWork is in talks to go public through a merger with a special purpose acquisition company (SPAC) and is also exploring raising funds from private investors, a little over a year after its botched initial public offering (IPO), according to a source familiar with the matter. The office-sharing start-up’s plans for its […]

NEW YORK (REUTERS) – Robinhood online brokerage has been one of the hottest venues for investors in a retail trading frenzy. Now it is in the line of fire from angry customers, disgruntled celebrities and politicians. Citing market volatility and the need to keep investors informed, the Menlo Park, California-based app said on a blog […]

LONDON (BLOOMBERG) – Tom Hayes, the former UBS Group and Citigroup trader who became the face of the Libor rigging scandal, is set to be released on Friday (Jan 29) after nearly six years in prison. Hayes, who served about half of an 11-year sentence, will be met by his wife after he leaves a […]

SINGAPORE (THE BUSINESS TIMES) – AIMS Apac Reit (AA Reit) reported a distribution per unit (DPU) of 2.05 cents for the third quarter ended Dec 31, 2020, down 18 per cent from its Q3 DPU of 2.5 cents a year ago. In a pre-market bourse filing on Thursday (Jan 28), its manager said the lower […]

NEW YORK (BLOOMBERG) – WallStreetBets, the internet forum fueling a frenzy of retail trading, briefly turned itself off to new users on Wednesday (Jan 27) after a deluge of new participants raised concerns about its ability to moderate content, a notice on the website said. The WallStreetBets home page went dark to all users for a […]