Straits Times Interactive - MONEY

Facebook deflates any thought of new tech bubble

Sun, 27 May 2012 01:50:00 GMT

NEW YORK (AFP) - The horrendous stock market debut for Facebook suggests investors are not ready to jump in and create another tech bubble despite big expectations for social media, analysts say.

Greeks and other Europeans in massive bank savings exodus

Sat, 26 May 2012 10:13:00 GMT

LONDON/ATHENS (REUTERS) - Greek savers may be gripped by a 'great fear that could develop into panic' in the words of President Karolos Papoulias, but many Greeks shifted their money to safer havens in Britain, Switzerland, Germany and Nordic countries long ago.

HK's Li Ka-shing deflects possibility of family feud

Sat, 26 May 2012 08:01:00 GMT

HONG KONG (REUTERS) - Octogenarian Hong Kong billionaire Mr Li Ka-shing mapped out a succession plan for one of Asia's biggest family empires, ensuring a smoother transition for the Cheung Kong group than that of real estate rival Sun Hung Kai Properties.

Japan, China to begin yen-yuan direct trading as early as June

Sat, 26 May 2012 04:08:00 GMT

TOKYO (AFP) - Japan and China are expected to start direct trading of their currencies as early as June as part of efforts to boost bilateral trade and investment, reports said on Saturday.

Japan chip maker Renesas may cut 14,000 jobs

Sat, 26 May 2012 04:04:00 GMT

TOKYO (AFP) - Japanese semiconductor maker Renesas Electronics is considering cutting up to 14,000 jobs or 30 per cent of its workforce as part of a major restructuring plan, news reports said on Saturday.

Italian automaker Fiat halts sales to Iran

Sat, 26 May 2012 02:40:00 GMT

MILAN (AP) - Italian automaker Fiat, which controls Chrysler, said on Friday that it and subsidiaries will immediately halt sales to Iran, following similar moves by other carmakers under pressure to cut ties to Teheran over its disputed nuclear programme.

Italian automaker Fiat halts sales to Iran

Sat, 26 May 2012 02:40:00 GMT

US consumer confidence highest in 4 1/2 years

Sat, 26 May 2012 01:16:00 GMT

WASHINGTON (AP) - A better hiring outlook and lower petrol prices pushed United States (US) consumer confidence to its highest level in four and a half years.

US stocks ride out euro temblors

Sat, 26 May 2012 01:00:00 GMT

NEW YORK (AFP) - United States (US) stock markets posted solid gains in a seesaw week of trade that was dominated by Facebook's post-initial public offering (IPO) slump and heightened fears of a Greek euro exit and Spanish banking crisis.

Madrid suspends Bankia trade, reported to need $32b

Fri, 25 May 2012 22:00:00 GMT

MADRID (AFP) - Spain's stock market suspended trade in Bankia's plunging shares on Friday as media reports said the struggling lender may seek up to 20 billion euros (S$32 billion) from the state to stay afloat.

Ferrari recalls 56 cars in China

Fri, 25 May 2012 15:05:00 GMT

BEIJING (AFP) - Ferrari's reputation in China took another blow on Friday when the country's quality watchdog said the luxury sports car manufacturer would have to recall 56 imported vehicles because of a defect.

US says China not manipulating yuan for unfair trade advantage

Fri, 25 May 2012 13:41:00 GMT

WASHINGTON (AFP) - The United States (US) said on Friday that China's tightly managed currency remains 'significantly undervalued' but Beijing was not manipulating the yuan to gain an unfair trade advantage.

Japan taps pop idols to sell government bonds: Reports

Fri, 25 May 2012 11:56:00 GMT

TOKYO (AFP) - Japan's cash-strapped government is turning to wildly popular music group AKB48 to help it sell government bonds, as interest in the low-yield paper wanes, reports said on Friday.

Singapore shares close lower on Friday, down 0.24%

Fri, 25 May 2012 09:21:00 GMT

Singapore shares closed lower on Friday, with the benchmark Straits Times Index at 2772.75, down 0.24 per cent, or 6.78 points.

Toyota plans 8 compact car models for emerging markets

Fri, 25 May 2012 05:00:00 GMT

TOKYO (REUTERS) - Toyota Motor said on Friday it would roll out eight compact car models tailored for emerging markets by 2015 in an attempt to catch up to front-runners such as Volkswagen (VW) and General Motors (GM).

Toyota looks to growth in emerging markets

Fri, 25 May 2012 04:30:00 GMT

TOKYO (AP) - Toyota is looking to emerging markets for growth, targeting 50 per cent of its global vehicle sales there by 2015, and rolling out eight compact models over the next few years.

Alibaba.com $3.2 billion privatisation bid approved

Fri, 25 May 2012 03:51:00 GMT

HONG KONG (AP) - Alibaba.com shareholders have approved a US$2.5 billion (S$3.2 billion) privatisation bid by the Chinese e-commerce firm's parent.

AirAsia in $5.1 billion talks for 50 Airbus A320 jets

Fri, 25 May 2012 02:34:00 GMT

TOULOUSE (REUTERS) - AirAsia is studying a potential US$4 billion (S$5.1 billion) deal to buy another 50 Airbus A320 passenger jets, its founder told Reuters on Thursday, extending the budget carrier's dramatic growth, months after it placed a record order for 200.

Euro zone strains intensify as 'massive shock' looms

Fri, 25 May 2012 02:26:00 GMT

BRUSSELS (AFP) - Euro zone tensions rose on Thursday after grim news on the economic outlook and as investors sought safety in Germany on growing doubts over Greece's future in the currency union.

Apple CEO gives up $96 million in dividend income

Fri, 25 May 2012 01:21:00 GMT

SAN FRANCISCO (REUTERS) - Apple chief executive officer (CEO) Tim Cook will not be earning dividend income on the more than 1 million shares to which he is entitled, which will cost him about US$75 million (S$96 million).

Japan consumer prices up 0.2% in April

Fri, 25 May 2012 00:28:00 GMT

TOKYO (AFP) - Consumer prices in Japan rose 0.2 per cent year-on-year in April, posting an increase for the third straight month on higher energy costs, official figures showed on Friday.

Fiat may build Mazda cars at Fiat, Chrysler plants

Fri, 25 May 2012 00:05:00 GMT

BELVIDERE, Illinois (REUTERS) - Italian automaker Fiat is open to expanding its newly announced partnership with Mazda Motor and building the Japanese automaker's vehicles at Fiat and Chrysler factories worldwide.

Fiat may build Mazda cars at Fiat, Chrysler plants

Fri, 25 May 2012 00:05:00 GMT

Airbus delays A380 wing crack repairs to 2013

Thu, 24 May 2012 23:05:00 GMT

PARIS (AFP) - Airbus has delayed repairs to wing cracks on its flagship A380 superjumbo to early next year in order to allow time to ensure the fixes are final, the company said on Thursday.

Air France-KLM admits overstaffing problems

Thu, 24 May 2012 22:56:00 GMT

PARIS (AFP) - Air France-KLM, the struggling Franco-Dutch airline group, warned on Thursday it was overstaffed but said it was still seeking ways to avoid forced departures as part of its turnaround plans.