Monday, August 8th, 2016


Wall St flat as health stocks weigh

NEW YORK, Aug 8 — The S&P 500 index failed to hold on to its gains after opening at a record high today as a drop in healthcare stocks offset the impact of higher oil prices and a strong jobs report. The S&P 500 healthcare index lost 1.14 per cent, the most since June 27. However, oil prices rose nearly 3 per cent after a report in The Wall Street Journal last week that some Opec members had called for a freeze in production. The S&P and the Nasdaq closed at record highs on Friday after dataRead More

Stocks climb to year high as commodities advance on outlook in US

LONDON, Aug 8 — Stocks rose to a one-year high, led by energy shares, and commodities gained on speculation the US economy is strong enough to sustain growth while only triggering a gradual increase in interest rates. Global equities extended an advance spurred by better-than-estimated American payrolls data that sent both the S&P 500 Index and the Nasdaq Composite Index to record highs Friday. Exxon Mobil Corp. and BP Plc led gains in energy shares as crude climbed after Opec’s president predicted the current bear market will be short-lived. CopperRead More

Swiber gets interim court order to stop payment of bank guarantees

SINGAPORE (Aug 8): Swiber Offshore Construction, part of troubled Singapore oilfield services firm Swiber Holdings, has received an interim court order to halt payment of bank guarantees for projects it was involved in, a stock exchange filing showed. Parent company Swiber Holdings last month applied to place itself under judicial management, after initially filing for liquidation, becoming the largest local company to fall victim to the slump in oil prices. Judicial management allows for a company to be nursed back to health under the supervision of the Singapore Court.Categories: LatestRead More

U.S. to auction US$16 mil worth of bitcoin from various cases

NEW YORK (Aug 8): The U.S. government said on Monday it plans to auction over 2,700 bitcoin that were forfeited during several cases, including the prosecution of the creator of the online black market known as Silk Road. The U.S. Marshals Service said that the online auction would be held on Aug 22, and that potential bidders must register by Aug 18. The bitcoin are worth nearly US$16.1 million, according to the Bitstamp exchange.Categories: TechnologyLatest News Source: The Edge No tags for this post.

India's parliament approves biggest tax reform

NEW DELHI (Aug 8): Parliament approved India’s biggest overhaul of indirect taxes on Monday, after the lower house ratified a constitutional amendment Prime Minister Narendra Modi called a major step to make doing business easier. The proposed goods and services tax (GST) is one of the most significant reforms since India opened its economy 25 years ago and the revamping of the tax system since the country’s independence in 1947.Categories: Latest NewsManagement Source: The Edge No tags for this post.

Oil prices extend gains, but traders warn of weakness ahead

LONDON/SINGAPORE (Aug 8): Oil rose further on Monday after a report of renewed calls by some OPEC members to restrain output, but analysts warned the bearish fundamentals that brought prices to four-month lows last week still lurked. International benchmark Brent futures were trading at US$45.17 per barrel at 1404 GMT, up 90 cents or 2.03%, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at US$42.78 per barrel, up 98 cents or 2.34%.Categories: Latest News Source: The Edge Tags: brent, oil price, singapore

UK fraud probe casts shadow over Airbus jet sales

PARIS (Aug 8): Airbus Group is bracing for a lengthy period of uncertainty over its core commercial jetliner business, after Britain said it would examine suspected irregularities in the use of third-party agents to win contracts. Europe’s largest aerospace company said late on Sunday that it had been notified that the UK’s Serious Fraud Office had opened a formal criminal probe after being alerted by the country’s export credit agency to discrepancies relating to the disclosure of the work of local agents.Categories: Latest NewsManagementCorporate Source: The Edge No tags forRead More

HeiTech Padu, DRB-Hicom, Asian Pac, Astral Asia, Fajarbaru, MBSB and P.I.E

KUALA LUMPUR (Aug 8): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Tuesday, Aug 9) could include: HeiTech Padu, DRB-Hicom, Asian Pac Holdings, Astral Asia, Fajarbaru Builder Group, Malaysia Building Society Bhd (MBSB) and P.I.E Industrial. HeiTech Padu Bhd’s subsidiary has won a RM37.29 million contract from Tenaga Nasional Bhd (TNB) for the establishment of a transmission main intake for the Mass Rapid Transport project at the Semantan Portal here.Categories: Latest NewsCorporate Source: The Edge Tags: kuala lumpur, malaysia, ubs

Delta flights resume after computer crash strands passengers

BENGALURU/LONDON (Aug 8): Delta Air Lines Inc’s flights gradually began taking off again on Monday after computer systems crashed, causing planes to be grounded and leaving passengers of one of the world’s largest carriers stranded at airports around the globe. The U.S. airline said the problems resulted from a power outage in Atlanta overnight and that customers should expect “large-scale” cancellations. Delta said in an update at 8:40 a.m. EDT (1240 GMT) that a halt on departures had been lifted and some flights were resuming.Categories: Latest NewsManagementCorporate Source: The EdgeRead More

Malaysia making good progress towards entrenching sustainable corporate business practices

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