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Kodak CEO’s fortune swells US$79 million as stocks rally on US government loan

Eastman Kodak Co CEO Jim Continenza added US$79 million to his net worth on Wednesday when his options in the imaging company turned from worthless to lucrative thanks to a U.S. government loan for a pharmaceutical ingredients supply deal that super-charged the value of his shares.

Markets

Commentary: Why is a consumer watchdog suing Google?

Google hasn’t been straight about how it uses our data as Australia’s consumer watchdog sues the tech giant, says Dr Katharine Kemp.

Markets

Commentary: Grab’s new platform fee may have raised eyebrows but it is nothing out of the ordinary

While consumers might not even notice the difference, it is worth understanding the price dynamics and how Grab has changed over the years, says Li Jianggan.

Markets

US renters owe US$21.5 billion in back rent; Republicans offer no eviction relief

More than US$21.5 billion in past-due rent is looming over Americans struggling to make ends meet, global advisory firm Stout, Risius and Ross estimated on Wednesday, as Republicans and Democrats fight over a new COVID-19 relief package.

Markets

3 to 4-year timeline proposed for dropping Sibor

A CONSULTATION report has recommended that the SGD Singapore Interbank Offered Rates (Sibor) be discontinued in three to four years, and that the Singapore Overnight Rate Average (SORA) be used as the main interest rate benchmark for SGD financial markets going forward.

Markets

MAS calls on local banks to cap dividend, offer scrip option

THE Monetary Authority of Singapore (MAS) on Wednesday called on local banks to cap their total dividends per share (DPS) for FY2020 at 60 per cent of the amount in the previous financial year, in a move to shore up capital amid the uncertain economic climate. ...

Markets

BlackRock conflicts managed ‘extremely carefully,’ Fed’s Powell says

Any potential conflicts that may arise from having investment giant BlackRock Inc buy corporate bonds and commercial mortgages on behalf of the Federal Reserve are being managed "extremely carefully," Fed Chair Jerome Powell said on Wednesday.

Markets

PayPal beats estimates with 86per cent profit jump on pandemic spending shift

PayPal Holdings Inc reported an 86per cent jump in second-quarter profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic.

Markets

Qualcomm forecasts sales above estimates, settles dispute with Huawei

Qualcomm Inc on Wednesday forecast fourth-quarter revenue largely above Wall Street expectations, powered by strong sales of more lucrative 5G devices despite a weak overall smartphone market.

Markets

PayPal profit jumps 86per cent on pandemic-driven online spending shift

PayPal Holdings Inc reported an 86per cent jump in second-quarter profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic.

Markets

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