Latest news from Channelnewsasia.com - Business feed

Latest news from Channelnewsasia.com - Business feed

  1. Fashion house BCBG Max Azria to file for bankruptcy: Sources

    BCBG Max Azria Group LLC, whose form-fitting party dresses have been worn by celebrities Selena Gomez, Drew Barrymore and others, is making preparations to file for bankruptcy as soon as next week, people familiar with the matter said on…
  2. Record-setting stock rally faces test in Trump speech

    U.S. President Donald Trump's planned economic agenda has fanned the flames for Wall Street's record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly…
  3. Fannie Mae secures commitments for credit transfer deal

    Fannie Mae said on Friday it secured commitments for a second transaction under which the U.S. mortgage finance agency will transfer some credit risk to reinsurers on US$15 billion worth of single-family home loans it plans to buy from…
  4. Kraft's shock bid triggers Unilever focus on short-term value

    Kraft Heinz's bid has jolted Unilever into focusing more on delivering on its strategy in the short-term, the Anglo-Dutch company's finance chief said on…
  5. Noble shares plunge after Iceberg questions Sinochem deal prospects

    Shares in Noble Group tumbled 17 percent on Friday, hit by a critical report from Iceberg Research that reiterated its concerns about the commodity firm's accounting…
  6. Wall Street ekes out positive finish

    Wall Street slouched to a positive finish on Friday (Feb 24) with all three major stock indices making last-minute moves into positive territory after spending most of the session in the…
  7. Shaking off dieselgate, VW races back into profit

    German auto giant Volkswagen on Friday (Feb 24) said it raced back into the black in 2016 as car sales hit an all-time high, in the latest sign of its "dieselgate" scandal fading into the rearview…
  8. US new home sales rise in January

    Sales of new US homes started the year on an upswing, with buyers in the Northeast snapping up the largest number of houses in nine years, the Commerce Department reported on Friday (Feb…
  9. China selects new chiefs for top economic posts

    China has replaced its commerce minister and the head of its top economic planning body, state media said on Friday (Feb 24), as the country grapples with mounting financial…
  10. AIA expands new business as weak yuan fuels Chinese demand

    Insurer AIA Group Ltd sees strong growth in 2017 after new business grew 28 per cent last year on strong demand in Hong Kong, with Chinese seeking overseas investment opportunities to cushion the impact of a weakening…
  11. Mercedes-Benz mulls North American potential for pick-up trucks

    Daimler's Mercedes-Benz Vans division is looking closely at a growing demand in the United States for mid-sized pick-up trucks to see whether there is market potential to launch its X-Class model there, divisional head Volker Mornhinweg said on…
  12. VW's controlling clan backs brand boss despite criticism: sources

    Volkswagen's embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labor leaders over cost-cutting plans, sources…
  13. VW's Porsche-Piech clan backs brand chief despite criticism: sources

    Volkswagen's embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labor leaders over cost-cutting plans, sources…
  14. China says no intention of using currency devaluation to its advantage

    China said on Friday it has no intention of using currency devaluation to its advantage in trade, responding to an assertion from U.S. President Donald Trump that China is the "grand champions" of currency…
  15. Singapore dollar hits all-time high against Malaysian ringgit

    The Singapore dollar was last seen around 3.1621 against the Malaysian ringgit, slightly pulling back from an intra-day high of 3.1685 set around noon. Against the US dollar, the local currency rose to a three-month peak at one point on Friday (Feb…
  16. Oil futures suggest bullish funds' big bet on price may pay off

    Oil investors have placed the biggest bet in history that prices will rise, as the world's largest exporters cut output to reduce a glut in supply, and the futures market is suggesting for the first time in a year that they could be onto a…
  17. Samsung Electronics tightens donation rules; report says two group executives offer to quit

    Tech giant Samsung Electronics is tightening board oversight on donations while two senior Samsung Group executives reportedly offered to resign, as the conglomerate struggles with the fallout from a graft scandal that led to its leader's…
  18. China considers faster IPO approval to lure large tech deals: Sources

    China's securities regulator is considering offering a shortcut for some of the country's largest technology companies to list their shares, allowing them to jump a long line of applicants and boost domestic bourses, according to six people with knowledge of the…
  19. Exclusive: China considers faster IPO approval to lure large tech deals - sources

    China's securities regulator is considering offering a shortcut for some of the country's largest technology companies to list their shares, allowing them to jump a long line of applicants and boost domestic bourses, according to six people with knowledge of the…
  20. Exclusive: Trump says Republican border tax could boost US jobs

    U.S. President Donald Trump on Thursday spoke positively about a border adjustment tax being pushed by Republicans in Congress as a way to boost exports, but he did not specifically endorse the…