Daily Debrief: What Happened Today
Stories you might have missed
Standard Chartered axes 15,000 jobs, announces US$5.1b capital raise
Asia-focused British bank Standard Chartered said on Tuesday it would axe 15,000 jobs and raise US$5.1 billion in capital after posting a "disappointing" third-quarter loss as it struggles to return to growth.
Singapore, China to sign high-level agreements during Xi's visit
Singapore and China are expected to announce details of high-level agreements between the two governments, including the third government-to-government project later this week, when Chinese President Xi Jinping visits the Republic on Nov 6 and 7.
Singapore consumer confidence on the rise in Q3: Nielsen
Singapore saw the highest growth in consumer confidence among South-east Asian countries in the third quarter, according to the latest Nielsen Global Survey of Consumer Confidence and Spending.
Temasek drags Olam from Muddy Waters to winning US$1b loan
Olam International Ltd, the Singapore commodities trader that fended off an attack from US-based short seller Muddy Waters LLC in 2012, is discovering it's good to have friends with deep pockets. Nineteen banks from around the globe last week lent US$1 billion to the company, which has been controlled by Singapore state investment fund Temasek Holdings Pte since 2014.
M1 to create next-generation data centre with partners
Telco M1 is tying up with VMware, Palo Alto Networks and Huawei to implement a next-generation software-defined networking (SDN) technology proof of concept in its cloud-based data centre.
Corporate Earnings
The STI Today
Singapore shares close higher after five straight days of losses
After having fallen 109 points in five straight sessions up to Monday, the Straits Times Index on Tuesday rebounded 25.15 points to 2,999.56. This was in line with an overnight rally in Wall Street and gains in Hong Kong and China, although weakness in the Dow futures probably led to a stalling of the upward momentum - the index rose to near its closing level in the late morning and stayed there for all of the second half.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Trade between Singapore and Asean was at S$295.6 billion in 2023
UK passport control hit by outage causing long waits at airports
Fed’s Kashkari says rates likely on hold for ‘extended period’
China’s Xi lands in Serbia after talking Ukraine, trade in France
Stormy Daniels details alleged sex with Trump at hush money trial
Indian vote body tells X to remove Modi party video targeting Muslims, opposition