GLOBAL MARKETS-ECB to go easy; Brexit goes sour

* Uncertainty around Brexit and stimulus keeps investors sidelined * ECB expected to expand and extend stimulus * Uncertainly remains over U.S. stimulus LONDON, Dec 10 (Reuters) – Bets on more European Central Bank stimulus kept Europe’s main stock markets and the euro steady on Thursday, but Britain’s pound saw its biggest drop in almost a month after overnight Brexit […]

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UK GDP growth slows in October with resurgence in Covid-19 cases

LONDON (REUTERS) – Britain’s economic recovery almost ground to a halt in October against a backdrop of rising coronavirus cases that dealt a blow to the hospitality sector, official figures showed on Thursday (Dec 10). Gross domestic product rose 0.4 per cent on the month, the Office for National Statistics said, in line with forecasts in a Reuters poll for […]

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Fruits Vending, ImmunoScape and SkyLab Networks bag Emerging Enterprise awards

SINGAPORE (THE BUSINESS TIMES) – Six budding enterprises were recognised for their business innovation, resilience and excellence at the Emerging Enterprise Award 2020 on Wednesday (Dec 9). Fruits Vending, a vending machine manufacturer and operator, biotech start-up ImmunoScape and SkyLab Networks, a data logistics firm, were honoured for showing an enterprising mindset and displaying potential for significant and sustainable growth. […]

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Nasdaq closes at record high as growth names get a lift

NEW YORK (REUTERS) – The Nasdaq closed at a record high on Monday (Dec 7) after investors moved into mega-cap growth stocks even as a new round of Covid-19 restrictions underscored the continuing economic impact of the pandemic on the United States. The tech-heavy Nasdaq advanced to close at a record, as several of its largest constituents, including Apple and […]

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Attitudes towards business failures changing for better

SINGAPORE – The impact of the Covid-19 pandemic on economies and companies is well documented. Besides causing massive job losses around the world, it has hit the bottom line and balance sheet of companies, causing mounting corporate debt and other liabilities. Insolvency cases and corporate distress have risen to their highest levels since the 1997 Asian financial crisis. Please subscribe […]

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China's factory activity expands at fastest pace in over three years

BEIJING (REUTERS) – China’s factory activity expanded at the fastest pace in more than three years in November, keeping it on track to be the first major economy to fully recover from the coronavirus crisis. The official manufacturing Purchasing Manager’s Index (PMI) rose to 52.1 in November from 51.4 in October, data from the National Bureau of Statistics showed on […]

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Japan's factory output rises for fifth month, retail sales jump

TOKYO (REUTERS) – Japan’s industrial output rose for the fifth straight month in October, fuelled by stronger machinery and car production, suggesting the economic is recovering further from the damage caused by the Covid-19 crisis. The world’s third-largest economy rebounded sharply in the third quarter from a pandemic-induced slump, thanks to a record surge in private consumption and stronger overseas […]

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More firms tipped to close in coming months, say experts

Despite a recent uptrend in business formations in Singapore, entity closures are also expected to rise in the coming months, experts told The Sunday Times. Around 35,400 were deregistered between January and October – lower than the average of 41,100 seen over the same 10-month period between 2015 and last year, according to data from the Accounting and Corporate Regulatory […]

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UPDATE 2-Fitch downgrades Sri Lanka on rising default risk

(Adds context, fund manager comment, graphic) LONDON, Nov 27 (Reuters) – Fitch downgraded Sri Lanka’s sovereign credit rating to “CCC” on Friday, warning the country’s debt levels were set to soar past 100% of GDP and that it was increasingly at risk of default. Sri Lanka relies on tourism and garment exports for foreign exchange reserves. It’s been hit hard […]

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UPDATE 1-Euro zone yields stay low on ECB stimulus expectations

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds comments, latest news, chart and updates prices) LONDON, Nov 27 (Reuters) – German 10-year Bund yields traded near two-week lows on Friday amid expectations for further monetary stimulus from the European Central Bank, while Portugal’s 10-year government bond yields were close to breaking below zero. The ECB signalled in October it […]

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