Real Estate
Fed’s operating losses swelled to record US$114.3 billion in 2023
THE Federal Reserve’s expenses exceeded its earnings in 2023 by US$114.3 billion, its largest operating loss ever, forcing the US central bank to forgo remittances to the Treasury as...
China files WTO complaint over US electric-vehicle subsidies
CHINA will sue the US at the World Trade Organization over rules that discourage electric-vehicle manufacturers from sourcing battery materials from China.The Inflation Reduction Act and associated rules are...
Mastercard, Visa reach US$30 billion settlement over credit card fees
VISA and Mastercard have reached a settlement to cap credit card fees for retailers, resulting in an estimated US$30 billion of savings over five years.The antitrust settlement announced on...
Norway’s US$1.6 trillion fund voices concern over UK IPO proposals
NORWAY’S US$1.6 trillion sovereign wealth fund warned that the UK’s Financial Conduct Authority’s plan to simplify rules around public listings could undermine investor confidence in the market.“We are concerned...
Vodafone Germany to cut 2,000 jobs in revamp
VODAFONE Germany aims to save around 400 million euros (S$583.7 million) over the next two years as part of a restructuring that will hit some 2,000 jobs, the company...
Rescuers search water for survivors after Singapore-flagged ship collides with Baltimore bridge
BALTIMORE’S 2.57 km Francis Scott Key Bridge collapsed and vehicles plunged into the river early on Tuesday (Mar 26) after a ship collided into a support pylon, officials said,...
Singapore stocks gain on Tuesday as regional markets end mixed; STI up 1.1%
SINGAPORE stocks closed higher on Tuesday (Mar 26), amid mixed trading in the region.The Straits Times Index (STI) rose 1.1 per cent or 35.23 points to close at 3,233.33.Across...
China’s Comac wide-body C929 jet in ‘detailed design stage’, official says
CHINESE state-owned planemaker Comac’s first wide-body jet is in its “detailed design stage”, an executive said on Tuesday (Mar 26), following a report from the jet’s fuselage manufacturer aiming...
