Posts by Stephanie Irvin
BHG downsizes Bugis Junction flagship outlet as department stores face shaky future
[SINGAPORE] Department store BHG is downsizing its flagship Bugis Junction outlet – its last remaining permanent store – from three to two levels. This follows the March closure of its Junction 8 store, which will be replaced by home furnishings brand Nitori. Nitori will also take over the third-floor space BHG used to occupy at…
Read MoreTrump says decision on Fed chair will be out soon
Published Sat, Jun 7, 2025 · 08:13 AM [WASHINGTON] President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. “It’s coming out very soon,” Trump told reporters on Air Force One. When asked specifically about…
Read MoreNew push in Europe to curb children’s social media use
[LUXEMBOURG] From dangerous diet tips to disinformation, cyberbullying to hate speech, the glut of online content harmful to children grows every day. But several European countries have had enough and agree the EU should do more to prevent minors’ access to social media. The European Union already has some of the world’s most stringent digital…
Read MoreCrude climbs on US jobs report, China talks
[HOUSTON] Crude rose more than US$1 a barrel on Friday, posting its first weekly gain in three weeks after a favourable US jobs report and resumed trade talks between the US and China, raising hopes for growth in the world’s two largest economies. Brent crude futures settled at US$66.47 a barrel, up US$1.13, or 1.73…
Read MoreBNP to cut 200 branches by end of 2026 to kick off retail revamp
[PARIS] BNP Paribas chief executive officer Jean-Laurent Bonnafe plans to cut hundreds of domestic retail branches in an effort to lift profitability at a business that has struggled for years. In a first step, the French lender plans to close around 80 branches this year and another 120 next, according to people familiar with the…
Read MoreUS: Wall Street opens higher on jobs data optimism; Tesla rebounds
Published Fri, Jun 6, 2025 · 09:42 PM [NEW YORK] US stock indexes opened higher on Friday (Jun 6) after a strong jobs report calmed worries over the health of the labour market, while Tesla shares rebounded on signs of cooling tensions between CEO Elon Musk and US President Donald Trump. The Dow Jones Industrial…
Read MoreSasseur Reit receives up to 508 million yuan from sponsor for refinancing
[SINGAPORE] Sasseur Real Estate Investment Trust’s (Reit) said a wholly owned subsidiary of its sponsor has entered into an unsecured sponsor loan agreement of up to 508 million yuan (S$91.1 million). The proceeds from the sponsor loan will help to repay existing offshore bank loans, due in March 2026. As the sponsor loan is denominated…
Read MoreProcter & Gamble’s job cuts raise questions over possible impact on Singapore operations, new facility plans
[SINGAPORE] Procter & Gamble (P&G) has so far stayed silent about how its planned reduction of about 15 per cent of its global non-manufacturing workforce over the next two years will affect its operations in Singapore. The consumer goods giant had on Thursday (Jun 5) announced at a Deutsche Bank conference in Paris that it…
Read MoreModi launches US$5.4 billion rail project in Jammu and Kashmir
[NEW DELHI] India’s Prime Minister Narendra Modi inaugurated the world’s tallest railway bridge connecting the restive Kashmir valley with the rest of the country on Friday (Jun 6), marking his first visit to the region after days of missile and drone attacks with Pakistan brought the two nuclear-powered nations close to a war. Along with…
Read MoreDigital token service providers need licence to solely serve overseas customers: MAS
[SINGAPORE] Digital token service providers (DTSP) will need a licence to serve overseas customers only, said the Monetary Authority of Singapore (MAS) on Friday (Jun 6). The regulator has clarified the scope of the new DTSP regulations, saying that the risks of money laundering are higher in such business models and if most of their…
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