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Markets

Commentary: China’s new digital currency is a lot of hot air

China’s central bank digital currency, trialled in four cities and soon to be expanded to Beijing, Tianjin, Hong Kong and Macau, will not be a game changer, says Stephen Roach.

Markets

Commentary: Does tiny Singapore really need a third Apple store?

Are Singaporeans so obsessed with Apple that a third store seems justified? SUSS’ Vanessa Liu and Lau Kong Cheen discuss what may be Apple’s calculations.

Markets

Afterpay annual loss halves as US sales soar

Australian buy now, pay later (BNPL) firm Afterpay Ltd said on Thursday its full-year loss narrowed 54per cent, as sales in the United States sky-rocketed due to the popularity of alternative credit firms during the COVID-19 pandemic.

Markets

Facebook says Apple’s new privacy rules could spare its own apps but hit smaller companies

Facebook Inc on Wednesday warned that privacy changes coming from Apple Inc could hurt smaller developers such as gaming companies disproportionately but will likely leave its own apps mostly unscathed.

Markets

Roku and Netflix surge after upbeat analyst reports

Shares of Roku Inc surged over 11 per cent on Wednesday (Aug 26) after Citi initiated coverage of the streaming video company with a "buy" rating, while Netflix Inc also rallied more than 11 per cent and was on track for its largest one-day gain in three years.

Markets

Saks owner Hudson’s Bay drops financing plan: sources

Hudson's Bay Co, the owner of luxury department store Saks Fifth Avenue, has ditched its plan to raise up to US$900 million in debt after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said on Wednesday.

Markets

North Korean hackers ramp up bank heists – US government cyber alert

North Korean hackers are tapping into banks around the globe to make fraudulent money transfers and cause ATMs to spit out cash, the U.S. government warned on Wednesday.

Markets

Exclusive: Alibaba puts India investment plan on hold amid China tensions – sources

China's Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business relations and rising political tension between the two nations after a clash on their Himalayan border.

Markets

Stronger Hurricane Laura aims at heart of US oil refining industry

Hurricane Laura strengthened on Wednesday as it churned over evacuated oil-production platforms in the U.S. Gulf of Mexico and took aim at the energy industry's refining hub along the Texas/Louisiana coast.

Markets

‘Fortnite’ maker Epic Games says will keep in-app payment feature on Apple devices

Epic Games said on Wednesday (Aug 26) it will not remove a direct payment feature it enabled on Apple Inc devices recently, a move that would mean iPhone users will not receive the latest version of the popular video game 'Fortnite'.

Markets

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