Markets

WHILE economic recovery from the Covid-19 crisis is gradually taking hold in Singapore, the lower-income group continues to fare poorly, both in terms of their earnings and savings, compared with other segments of society, showed a new report from Singapore's largest bank DBS.

NUMBERS from Singapore's largest bank DBS put to rest earlier concerns of a "cliff effect" from deferring mortgage payments, a scenario where many, especially the most vulnerable, may not be financially prepared to make payments when moratoriums are promptly rolled back.

WHILE they stare quietly at their models, macroeconomists are hearing the distant rumble of revolt. A year ago, the Nobel laureate economist Joseph Stiglitz announced that capitalism was undergoing "yet another existential crisis", with "neoliberal ideology" to blame. Now Robert Skidelsky has proclaimed the arrival of a "silent...

SINGAPORE'S number of ultra-wealthy people continued growing strongly in the 2019-2020 period despite the pandemic, making it the Asian country with the second highest rate of growth in this segment.

An unknown hacking group recently broke into organizations using a newly discovered flaw in Microsoft mail server software, a researcher said on Tuesday, in an example of how commonly used programs can be exploited to cast a wide net online.

Upscale department store chain Nordstrom Inc on Tuesday reported a 20per cent decline in net sales for the holiday quarter, as a surge in the number of COVID-19 cases and fresh restrictions in some cities put a damper on holiday retail shopping.

Many Walmart Inc hourly workers will collect bigger paychecks on the U.S. east and west coast markets where the cost of living is higher and competition for labor among retailers is more intense, the company told Reuters on Tuesday.

Chipmakers, such as Samsung Electronics, will need a couple of weeks to resume production in Texas after shutdowns caused by severe weather, and customers could face knock-on effects in several months' time, a representative of a trade body said.

Shares in heavily-shorted mortgage provider Rocket Companies surged on Tuesday and were set for their third straight day of gains as the stock drew interest on Twitter and Reddit’s popular WallStreetBets.

Robinhood, the online brokerage used by many retail traders to pile in to heavily shorted stocks like GameStop Corp, has made an ambitious push into loaning out its clients' shares to short sellers as it expands its business.