The Business Times

Zuckerberg says ‘sorry’ as Meta cuts more than 11,000 jobs “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted," says…

StarHub Q3 net profit falls 32% to S$27.4 million despite stronger revenue StarHub said the lower profits were due to higher staff costs, marketing and promotions (a “one-off expense” relating to the Premier League), rep…

#BTOpinion: To restore confidence in Sats, its board and management should buy the stock This is not a big ask, says BT's Ben Paul. "By demonstrating their willingness to invest a meaningful amount of their personal mone…

COE premiums set highs as extensions of old cars block new supply New records across three categories - ⬆️ Category B (Cars above 1,600cc or 97KW): S$115,388 ⬆️ Category D (Motorcycles): S$13,189 ⬆️ Category E (Open cate…

Atome gets MAS’ in-principle nod for major payment institution licence The “buy now, pay later” (BNPL) platform will then be allowed to perform regulated payment services such as account issuance, domestic and cross-bord…

About 40,000 businesses face GST rate hike for first time; Iras reminds all firms to update systems Firms will have to ensure that their systems and contracts are compliant when the GST rises to 8% on Jan 1.

Why transition financing of coal plants is important, and how to stop its abuse: Ravi Menon He noted that the early phase-out of coal power plants is one of the top two decarbonisation strategies that would move the need…

Musk sells US$3.95b of Tesla stock after buying Twitter Elon Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August.

Residential property rents climb in October; condo volumes down: SRX, 99.co “With the 15-month wait it was expected that this would have a spillover effect on the rental market, as more private property owners would rent…

Singapore companies perform worse, optimism cools: BT-SUSS Q3 survey Of the survey’s three indicators of performance, orders or new business weakened, while profits remained in decline.

Golden Energy to delist via cash consideration; offers distribution in specie of shares The series of proposals come as the company seeks to reduce its exposure to energy coal.

CZ’s Binance to buy rival FTX after Sam Bankman-Fried faces liquidity crunch The acquisition will reshape the more than US$1 trillion industry that is already dealing with a prolonged market downturn.

Meta to begin widespread job cuts on Wednesday morning Chief executive officer Mark Zuckerberg spoke to executives on Tuesday to prepare them for the cuts, where he said he was accountable for the company’s “missteps”, s…

Terra co-founder Do Kwon faces S$79.8m lawsuit in Singapore after crypto crash Beltran and Gan represent 359 plaintiffs who claim they had been misled into thinking the cryptocurrency TerraUSD was designed to have a rela…

Twitter’s big debt bills add urgency to Musk’s turnaround plans Twitter's increased debt load means it will have annual interest payments approaching US$1.2 billion, up from below US$100 million in the pre-Musk era.

Investment banking still has upside potential despite revenue slide: JPMorgan president Daniel Pinto Daniel Pinto, who is also chief executive of JPMorgan’s corporate and investment bank, noted that net revenue for globa…

Thailand scraps plan to allow foreigners to buy land Critics have argued the investment sum was too small and that the policy could drive up property prices, crowding out local ownership.

Cuscaden Peak Investments sells Yarwood Avenue GCB for S$29.7 million The two-storey bungalow, with five bedrooms and a swimming pool, has a land area of about 18,519 square feet.

IMDA, Huawei launch incubator focusing on Web3, fintech and more Selected startups will have access to the expertise and resources provided by both Huawei and IMDA, including up to US$60,000 in Huawei Cloud credits.

About 50% of net GST revenue in 2018 and 2019 paid by tourists, foreigners residing in Singapore The bulk of net GST collected is borne by tourists and foreigners residing in Singapore and the top 20% of households, reit…

Condo resale volumes slide 11.6% in October; price growth slows: SRX, 99.co The overall median capital gain for resale condos was S$305,981 for October 2022, where District 21 (Clementi Park and Upper Bukit Timah) record…

Sembcorp shouldn’t stop counting emissions of Indian coal power business after disposal: Non-profit This is to prevent Sembcorp from claiming and reaping the benefits of hitting emissions targets while providing financin…

Coal market in danger of more company exits, stranded assets as challenges rise Market watchers say the impact of banks ceasing funding for coal projects is likely to be severe, and financing for coal is becoming more di…

Extra S$1.4b for GST Assurance Package; 2024 hike to be reviewed if economy ‘sharply deterioriates’: DPM Wong With higher inflation in the coming years, household expenditure - and therefore additional GST expenses - is…

Singapore Airlines operationally ready to ride on mainland China’s reopening SIA has recently been allowed by the Chinese government to add flights to the country, and the Chinese routes are now doing “very well” due to…

#BTOpinion: Investors must make their voices heard in current consultation on listing rule changes SGX should look into ways to ensure that independent directors appointments do not become cushy sinecures for senior corp…

Why renting a home is not just a ‘waste of money’ While some view renting as a money pit, this writer chooses to see it as a form of investment into one's own mental wellbeing and personal development.