Software startup Slack Technologies is raising $250 million in a new funding round, according to people familiar with the matter, boosting the company’s valuation as Silicon Valley companies enjoy a surge in venture capital investments. Slack, which makes messaging and collaboration software for businesses, is raising the fresh funding at a valuation of slightly more […]
Read moreBanking stocks in one of the world’s top financial hubs rallied on Thursday after its second-largest lender reported quarterly earnings that handily beat estimates. Singapore’s Oversea-Chinese Banking Corp (OCBC), kicking off results season for the city state’s banks, said in a statement its second-quarter net profit jumped 22 percent year-on-year to 1.08 billion Singapore dollars […]
Read morePolice in the Chinese capital have detained 67 people for disturbing social order after demonstrators gathered to stage a rare protest in Beijing, complaining that the government was unfairly targeting a charity. While there are thousands of protests every year in China over everything from pollution to corruption, large protests are rare in heavily guarded […]
Read moreTroubled commodity trader Noble Group saw its shares plummet as much as 48.7 percent on Thursday after the company on Wednesday issued a profit warning and plans for asset sales. The stock tumbled as low as 29.5 Singapore cents, or 22 U.S. cents. At 9:08 a.m. HK/SIN, the stock was down 36.52 percent at S$0.365. […]
Read more
Amazon launched its Prime Now services in Singapore, making the country the e-commerce giant’s first foray into the Southeast Asian market. The Prime Now app was made available for download on Wednesday night in Singapore, both on Google’s Play store and Apple’s App store. Prime Now is part of Amazon’s Prime membership service. Within the […]
Read moreAsia markets were mostly higher in early Thursday trade following the Federal Reserve’s decision to leave interest rates unchanged and ahead of a slew of corporate earnings. Japan’s benchmark Nikkei 225 index edged down 0.07 percent while South Korea’s Kospi advanced 0.52 percent in early trade. In Australia, the S&P/ASX 200 was moderately higher, trading […]
Read moreSamsung Electronics on Thursday said it expected the memory chip boom to continue in the current quarter, after reporting a record operating profit for the three months through June. The world’s biggest maker of memory chips, smartphones and television sets is widely expected to be on track to break profit records for the full year. […]
Read moreU.S. media company Discovery Communications in the lead to acquire U.S. cable TV network owner Scripps Network Interactive, people familiar with the matter said on Wednesday. Discovery has entered into exclusive talks with Scripps after prevailing over a rival offer from Viacom, another U.S. media company, one of the sources said. While a deal could […]
Read moreJust when Jim Cramer expects the transports to be rallying, they roll over, raising concerns about weakness in one of the market’s most important sectors. “I can’t do enough to stress just how important this sector is to any rally. Transports equal commerce,” the “Mad Money” host said. But one of the transport stocks could […]
Read moreIt’s that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed: Charles Schwab: “I want you to keep [your position]. Look, we’re in a bull market and rates are going up and that is really good for Schwab. Period, end of story.” […]
Read more