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Markets

Covid-19 widens field for new digital banks as inclusion gap narrows

THE Monetary Authority of Singapore (MAS) is sticking to its planned number of digital bank licences that it will issue, with the regulator "impressed" by the quality of applications that have been reviewed, said its top official.

Markets

Singapore to open payment rails to selected non-bank financial firms from February

SINGAPORE is opening up access to the payment rails once held sacred by only the banking industry.

Markets

Singapore bank lending dips further in October

SINGAPORE's bank lending fell for the eighth straight session in October, dragged down by a continued slump in business loans.

Markets

GM, Nikola announce reworked agreement; Nikola shares tumble 25per cent

General Motors Co and Nikola Corp on Monday announced a reworked agreement on a fuel-cell partnership that eliminates an equity stake in the startup for the Detroit automaker as well as plans for building Nikola's electric pickup truck, sending Nikola shares tumbling almost 25per cent.

Markets

Biden urged to reject Big Tech’s influence by 32 advocacy groups

Thirty-two groups including ones focused on antitrust, consumer advocacy and progressive issues sent a letter to President-elect Joe Biden on Monday urging him to reject the influence of Big Tech companies on his administration.

Markets

Philip Green’s Arcadia UK fashion group falls into administration

British tycoon Philip Green's Arcadia fashion group has collapsed into administration, putting over 13,000 jobs at risk and becoming the country's biggest corporate casualty of the COVID-19 pandemic so far, administrator Deloitte said on Monday.

Markets

Wall Street retreats, S&P 500 still set for best November ever

Wall Street stocks fell on Monday as investors took profits after a sharp rally that has put the benchmark S&P 500 index on course for its best November ever.

Markets

US bond volatility players eye 2021 inflation bump

After a decade of central bank bond buying, fund managers have begun to wonder if there is again money to be made in betting or hedging against volatility in the bond market caused by an economic recovery next year.

Markets

Philip Green’s Arcadia rejects Frasers’ offer of ‘lifeline’ loan

Philip Green's struggling British fashion group Arcadia has turned down rival Frasers Group's offer of a "lifeline" loan of up to 50 million pounds (US$67 million), sportswear retailer Frasers, controlled by Mike Ashley, said on Monday.

Markets

US housing, manufacturing data suggest economic recovery slowing

Contracts to buy U.S. previously owned homes fell for a second straight month in October as an acute shortage of properties pushed up prices, though the housing market remains supported by record low mortgage rates.

Markets

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