Thursday, 24 Sep 2020

Business

Temasek backs US$30m firm for vertical farming innovation to boost Singapore's food supply

SINGAPORE – A new US$30 million (S$41.2 million) company has been formed to develop breakthroughs in vertical farming, a move that will help to further reinforce Singapore’s food supply. Called Unfold, it is a tie-up between Singapore state investment firm Temasek and a unit of German pharmaceutical and life sciences giant Bayer. The Straits Times understands […]

U.S. shoes company Skechers opens flagship Paris store

PARIS (Reuters) – Skechers (SKX.N) has opened a new flagship store in Paris, on the city’s well-known Rue de Rivoli, near the Louvre and other major tourist sites, the U.S. trainers and shoes company said on Wednesday. The French capital’s retail sector has been hit hard by the effects of the COVID-19 pandemic. “Skechers has […]

Coronavirus: ‘Largest UK recession on record’ – official figures

The UK has been tipped into the “largest recession on record”, according to official figures charting the impact of the coronavirus crisis on the economy. The Office for National Statistics (ONS) reported that the enforced hibernation of activity through the COVID-19 lockdown meant gross domestic product (GDP) slumped by 20.4% in the second quarter of […]

Australian wage growth lowest ever in second quarter as pandemic rages on

SYDNEY (Reuters) – Australian wages grew at their slowest pace on record in the second quarter, underscoring the damage the coronavirus has done to household spending, after recent data showed consumer confidence and business conditions were hit. The official wage price index (WPI) rose 0.2% in the three months to the end of June, the […]

Kodak raised spending on lobbying government in months before loan awarded

(Reuters) – Eastman Kodak Co (KODK.N) increased spending on lobbying the U.S. government in the months before the Trump administration announced a $765 million loan to the photographic equipment maker, public disclosures filed with the Congress show. The company spent $870,000 as “expense relating to lobbying activities” from April through June, according to the lobbying […]

Asian stocks fall on U.S. stimulus uncertainty

TOKYO/BOSTON (Reuters) – Asian stocks dipped on Wednesday on growing uncertainty over whether the U.S. lawmakers would agree on an additional round of big fiscal stimulus to support an economy still struggling with the novel coronavirus. Hopes of vaccine development, however, prompted some investors to reduce safe-haven assets such as gold and government bonds, and […]

Australian wage growth lowest ever in second quarter as pandemic rages on

SYDNEY (Reuters) – Australian wages grew at their slowest pace on record in the second quarter, underscoring the damage the coronavirus has done to household spending, after recent data showed consumer confidence and business conditions were hit. The official wage price index (WPI) rose 0.2% in the three months to the end of June, the […]

Boeing 737 MAX cancellations rise, deliveries drop as crises drag on

(Reuters) – Boeing Co customers scrubbed more than 400 orders for the U.S. planemaker’s grounded 737 MAX jets this year, while the company’s overall aircraft deliveries slumped to only four in July, monthly numbers showed on Tuesday. Boeing said it lost another 43 orders for the 737 MAX jet in July, bringing the total number […]

Chevron pursued Noble Energy's natural gas find before bidding for company

HOUSTON (Reuters) – Chevron Corp last year proposed to acquire a stake of at least 50% in Noble Energy’s Eastern Mediterranean natural-gas fields, talks that led to July’s all-stock deal, a proxy filing on Tuesday showed. The $5 billion deal would boost Chevron’s U.S. shale oil holdings and give it vast natural gas holdings off […]