Tag Archives: singapore

Singapore to Pay Residents for Protecting Wholesome With Apple

[ad_1]

Apple Inc. and the federal government of Singapore have partnered on a two-year well being initiative dubbed LumiHealth, which is constructed round monitoring and rewarding consumer habits by way of the Apple Watch gadget and an iPhone app.

As a part of the scheme, Singapore residents will be capable to earn as a lot as S$380 ($280) in rewards and vouchers by finishing targets and duties set throughout the app. Targets will be achieved by strolling or doing different workout routines like swimming or yoga, and the LumiHealth app will supply customized teaching and reminders for well being screenings and immunizations. Wellness challenges will nudge customers towards making higher meals decisions and bettering sleep habits.

[ad_2]

Supply hyperlink

Business group: Virus outbreak may price airways $113B

[ad_1]

The Worldwide Air Transport Affiliation says the virus outbreak that started in China may price airways as a lot as $113 billion in misplaced revenues as a result of collapse of air journey

SINGAPORE —
The Worldwide Air Transport Affiliation says the virus outbreak that started in China may price airways as a lot as $113 billion in misplaced income as a result of collapse of air journey.

Representatives of the airline business group mentioned Thursday after a working assembly in Singapore that the business urgently wants assist from governments in waiving some necessities and charges to alleviate the burden on struggling carriers.

An earlier estimate simply two weeks in the past put the potential price of the downturn in journey at lower than $30 billion.

The group’s estimate displays a situation involving a 19% loss in revenues with intensive unfold of the virus in markets that now have 10 or extra confirmed instances. That displays nations accounting for 80% of airline revenues. The most important losses could be within the Asia-Pacific area, together with China, which has by far probably the most instances of the virus.

“This can be a very severe money circulation shock,” mentioned Brian Pearce, the IATA’s chief economist. “We’re seeing this severe decline in bookings and revenues exterior the Asia-Pacific now that it (the virus) has unfold extra extensively.”

The IATA officers mentioned the consensus of specialists was that air journey stays comparatively protected and that there are not any recognized instances of passengers spreading the virus whereas on plane.

[ad_2]

Supply hyperlink

Investors charge back into stocks on signs coronavirus spread is slowing

[ad_1]

LONDON (Reuters) – A drop in the number of new coronavirus cases and the Federal Reserve chairman’s optimistic view of the economy lifted world stocks for a third day on Wednesday and sparked a 2% rally in oil prices, on hopes the epidemic’s effects would be contained.

FILE PHOTO: An investor monitors share market prices in Kuala Lumpur, Malaysia, August 25, 2015. REUTERS/Olivia Harris.

China reported its lowest number of new coronavirus cases since late January, lending weight to a prediction from its senior medical adviser that the outbreak might be over by April. A continued decline in new cases would inflict would keep the epidemic from doing as much economic damage as initially feared,

Those reports encouraged investors to get back into equities at the expense of bonds, gold and the Japanese yen — safe-haven assets that benefited as the virus death toll mounted.

“The virus may retard the modest upturn in global trade and manufacturing output which we predict to unfold from the second quarter of 2020s. But it seems unlikely to derail it,” analysts at Berenberg told clients.

The damage to Western economies in particular “will likely be modest and mostly temporary,” the bank said.

MSCI’s global equity index rose 0.12% to stand just off Tuesday’s record highs .MIWD00000PUS. A pan-European equity index rose to a record as automobile stocks — which depend on exports to China — jumped 1.2% .SXAP.

Futures indicated Wall Street would extend gains from Tuesday, when the S&P 500 and Nasdaq posted record closing highs ESC1 [.N].

In Asia, mainland Chinese and Hong Kong shares rose almost 1% .CSI300. The offshore-traded yuan reached two-week highs CNH=D3. The Thai baht, Korean won and Taiwanese dollar, reliant on Chinese tourism and trade, gained 0.3% to 0.5% THB= KRW= TWD=. The yen slipped 0.3% JPY=EBS to a three-week low against the dollar.

Brent crude futures rose from 13-month lows, helped by the likelihood producers would cut output LCOc1. Brent is still down almost 20% from its peaks in early January.

Some noted it remained unclear whether the coronavirus had peaked. Some Chinese companies said they were laying off workers as supply chains for goods had ruptured.

“Evidence suggests the positive mood will continue, and we see some coordination in markets with oil rallying, base metals up and Treasuries coming under pressure,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. But “I am not ready to buy risk assets yet.”

U.S. RESILIENCE

Yields on U.S. Treasuries and German Bunds US10YT=RR rose 3 to 4 basis points. Ten-year U.S. yields are now 13 bps off the four-and-a-half-month lows hit late January though almost 30 bps below where they started 2020.

Yields had risen on Tuesday after U.S. Federal Reserve Chair Jerome Powell said the U.S. economy was “resilient”. Powell also said he was monitoring the coronavirus, because it could lead to disruptions that affect the global economy.

The dollar had risen to four-month highs against a basket of currencies .DXY but inched off those levels on Wednesday.

U.S. markets also got a boost from signs President Donald Trump might be re-elected in November, since centrist candidates for the Democratic nomination appear to be struggling .

“Trump had a great start into the U.S. election season. After the early end of the impeachment trial in the Senate and the Iowa caucus chaos for the Democrats, betting markets suggest that Trump has a 58% probability of winning re-election on 3 November,” Berenberg noted.

The day’s big currency mover was the New Zealand dollar NZD=D3, which rose 0.8% for its biggest daily gain since December, after the central bank dropped a reference to further rate cuts, suggesting its easing cycle might be over.

Additional reporting by Stanley White in Tokyo, editing by Larry King

Our Standards:The Thomson Reuters Trust Principles.

[ad_2]

Source link

Vettel ends 13-month winless run; Ferrari 1-2 at Singapore

[ad_1]

Ferrari driver Sebastian Vettel took benefit of an early pit cease to win the Singapore Grand Prix on Sunday and finish a 13-month winless streak in Method One.

Vettel, who began third on the grid, crossed the end line 2.641 seconds forward of Charles Leclerc — who was sad with group pit technique — in a Ferrari 1-2.

It was four-time F1 champion Vettel’s first win because the 2018 Belgian Grand Prix.

“Clearly the beginning of the season has been tough for us however in latest weeks we began to come back alive,” Vettel stated. “It has been unbelievable to get a lot help from the followers and I attempted to place all of it into the observe as we speak and into the automobile and I am glad it paid off.”

Purple Bull’s Max Verstappen was third whereas championship chief Lewis Hamilton was fourth.

With six races remaining, Hamilton holds a 65-point lead over Mercedes teammate Valtteri Bottas, who completed fifth. The winner of every race will get 25 factors.

It was Vettel’s fifth victory beneath the lights in Singapore and ended a 22-race winless streak.

Leclerc began from pole and held the lead on the 5-kilometer (3.1-mile) Marina Bay avenue circuit till he pitted on the 21st lap of the night time race. When Leclerc rejoined, he was behind Vettel, who had pitted a lap earlier.

Leclerc made it clear over the group radio that he was not blissful that Vettel pitted first and received the lead.

Vettel stated he acquired the decision from his group to pit and it wasn’t his determination.

“It was a really late name,” Vettel stated. “I believed it was a bit early as a result of I wasn’t certain we will make the tires final within the second stint however, yeah, then I simply gave it every little thing within the outlap as a result of I noticed the 2 automobiles in entrance of me not pitting, particularly Lewis. I used to be then very stunned a lap later to come back out forward.”

Leclerc, who received the earlier two races and appeared set for a 3rd straight victory, was diplomatic later when requested in regards to the pit technique of Ferrari.

“It is all the time tough to lose a win like that however in the long run it is a 1-2 for the group,” Leclerc stated. “We arrived right here hoping for a podium and are available again with a 1-2 so are extraordinarily blissful.”

In the course of the race, Leclerc had a distinct take when he was advised to save lots of his engine 15 laps from the end. His response to Ferrari included: “I simply do not suppose it is honest, however I will not do something silly.”

Purple Bull’s Alexander Albon was in sixth place and Lando Norris completed seventh for McLaren, forward of Toro Rosso’s Pierre Gasly.

Renault’s Nico Hulkenberg was ninth and Alfa Romeo’s Antonio Giovinnazi rounded out the High 10.

———

Extra AP sports activities: https://apnews.com/apf-sports and https://twitter.com/AP—Sports activities



[ad_2]

Supply hyperlink

Waning ECB stimulus bets push bond yields higher

[ad_1]

LONDON (Reuters) – Global bond yields rose on Monday, amid growing caution over the extent to which the European Central Bank will add stimulus to boost an ailing economy this week and rising hopes that Berlin could loosen its purse strings.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 6, 2019. REUTERS/Staff/File Photo

Germany’s 30-year benchmark bond yield briefly broke into positive territory for the first time in more than a month, while U.S. Treasury yields climbed to 18-day highs.

Safe-haven assets have been caught up in the fixed income sell-off, with gold XAU= touching a one-month trough and Japan’s yen plumbing a five-week low. But equities failed to make gains, as weak Chinese producer prices data dampened the mood.

The bond moves comes as markets are gearing up for Thursday’s European Central Bank (ECB) meeting, which is widely expected to deliver a cut to interest rates and point to further bond-buying stimulus.

However, there is a growing chorus of opinion that ECB policymakers and other central banks with negative interest rates and sub-zero long-term sovereign bond yields are nearing the limits of stimulus policies.

Germany also starts to debate its 2020 budget in parliament later in the day, where Finance Minister Olaf Scholz’s speech will be scrutinized after Reuters reported Berlin was looking into creating a “shadow budget” to boost public investment and effectively circumvent limits set by its national debt rules.

“These stories have become more frequent in recent weeks,” said Deutsche Bank’s Jim Reid. “Whilst the market always gets more excited by the headlines than is justified by hard evidence of any change in policy, it’s fair to conclude that market pressure and chatter on this story is building.”

Europe’s largest economy is teetering on the brink of recession, but strict national spending rules have tied policymakers hands on fiscal policy.

The U.S. Federal Reserve is also widely expected to cut interest rates next week as policymakers race to shield the global economy from risks, which also include Britain’s planned exit from the European Union.

With interest rates plumbing record lows in many countries and the effectiveness of further bond-buying muted by already record-low borrowing costs for governments, attention has turned to increased public spending or tax cuts to fire up growth.

A CHINESE CLOUD

The sell-off in fixed income markets failed to lift global stocks, where the mood was subdued amid concerns over the health of the world economy.

Data showing China’s mainland factory-gate prices shrank at their fastest pace in three years, as flagging demand at home and abroad forced some businesses to slash prices, saw Asian bourses slip lower.

In Europe, the pan-European stocks benchmark index STOXX 600 fell 0.4% in a second day of losses.

China-sensitive German stocks .GDAXI eased 0.3% while France’s CAC .FCHI dropped 0.6%.

“China inflation data was probably the worst combination of prints the market could have hoped for,” said Stephen Innes, Market Strategist AXI Trader.

“While the enormous slide in China factory gate prices reminded us of what we already know, U.S. tariffs are sinking the Chinese economy and at a much quicker pace than anyone could have imagined.”

However, climbing bond yields helped lift European banking stocks .SX7P 0.3% – one of the few sectors in the black.

U.S. stock futures pointed to a lower open on Wall Street after the S&P 500 .SPX ended flat in New York on Monday.

In currencies, the rise in Treasury yields helped lift the dollar to touch a five-week high of 107.50 yen JPY=EBS. The euro EUR=EBS was flat at $1.104 after reaching an overnight high of $1.1067.

The pound GBP=D3 traded near a six-week high of $1.2385 after a law came into force demanding that Prime Minister Boris Johnson delay Britain’s departure from the European Union unless he can strike a divorce deal with the bloc.

Oil futures hit their highest level in six weeks in Asia after Saudi Arabia’s new energy minister confirmed he would stick with his country’s policy of limiting crude output to support prices.

U.S. crude traded at $57.97 a barrel after hitting the highest since July 31. Brent crude futures climbed to $62.67 a barrel.

Prince Abdulaziz bin Salman, who became Saudi Arabia’s new energy minister on Sunday, told reporters there would be “no radical” change in Saudi’s oil policy. Saudi Arabia is OPEC’s de facto leader.

Reporting by Karin Strohecker in London, additional reporting and graphic by Sujata Rao in London, additional reporting by Stanley White in Tokyo; Editing by Lincoln Feast, Sam Holmes and Alex Richardson

Our Standards:The Thomson Reuters Trust Principles.

[ad_2]

Source link

Asia shares hit six-month lows, bonds growth amid market shakeout

[ad_1]

SYDNEY (Reuters) – Asian shares slid to 6-1/2-month lows on Monday and the yuan slumped to a greater than decade trough as a fast escalation within the Sino-U.S. commerce warfare despatched traders stampeding to conventional protected harbors together with the yen, bonds and gold.

FILE PHOTO: A girl walks previous an digital board exhibiting the inventory market indices of varied international locations exterior a brokerage in Tokyo, Japan, October 11, 2018. REUTERS/Kim Kyung-Hoon

Markets have been badly spooked since U.S. President Donald Trump abruptly declared he would slap 10% tariffs on $300 billion in Chinese language imports, ending a month-long commerce truce. China vowed on Friday to battle again.

In response, China’s yuan CNH= CNY= burst past the psychological 7-per-dollar threshold in a transfer that threatened to unleash a brand new entrance within the commerce hostilities – a forex warfare.

“Every thing is promoting off proper now,” mentioned Ray Attrill, head of foreign exchange technique at Nationwide Australia Financial institution in Sydney. “We have now no motive to anticipate any cessation in promoting except we see any robust motion to defend any CNY or CNH weak spot.”

“Our working assumption is that we’re unlikely to see any significant decision to the commerce dispute anytime quickly.”

Asian share markets have been a sea of crimson with Japan’s Nikkei .N225 shedding 2.4% to the bottom since early June. It was the sharpest each day drop since March.

Australian shares slipped about 1.4% to spend their fourth straight session within the crimson, and South Korea’s Kospi .KS11 tumbled 2.2% to hit its lowest since December 2016.

MSCI’s broadest index of Asia-Pacific shares exterior Japan sank 2.1% to depths not seen since late January.In China, the blue-chip index .CSI300 fell 0.8% whereas the troubled Hong Kong market .HSI hit a seven-month trough. The ache shortly unfold globally, with E-Mini futures for the S&P500 ESc1 and FTSE futures FFIc1 each down over 1%.

Oil costs have been additionally pulled down once more on demand worries, whereas gold climbed 0.65% to $1,450.41 an oz..

The grim temper adopted declines on Wall Road on Friday with MSCI’s gauge of world shares posting its largest weekly lack of the 12 months.

The commerce dispute between the world’s two largest economies has already disrupted international provide chains and slowed financial progress.

The abrupt escalation capped a essential week for international markets after the U.S. Federal Reserve delivered a broadly anticipated rate of interest minimize and performed down expectations of additional easing.

EVER DEEPER CUTS

Up to now, traders will not be shopping for Fed Chair Jerome Powell’s declare that the 25-basis-point price discount was a mere “mid-cycle adjustment to coverage”.

Futures at the moment are pricing in deeper cuts than earlier than final week’s Fed assembly. The terminal U.S. price is seen at 1.22%, 93 foundation factors beneath the present efficient price.

Analysts at TD Securities are forecasting a minimum of 5 extra cuts from the Fed, amounting to 125 foundation factors of easing, over the approaching 12 months or so.

Bond markets have been nicely forward of the sport as U.S. 10-year yields US10YT=RR dived 7 foundation factors to 1.77%, a violent shift for normally cautious Asian hours. Yields in Australia and New Zealand touched all-time lows.

German 10-year authorities bond yields on Friday dropped to an all-time low of -0.502% and the nation’s total authorities bond yield curve turning damaging for the primary time ever.

The flight to security lifted the yen, which frequently positive aspects at time of stress because of Japan’s place because the world’s largest creditor. The greenback slipped to a seven-month trough of 105.78 yen JPY=, whereas the euro sank to its lowest since April 2017 at 117.64 yen EURJPY=.

That dragged the greenback index .DXY off 0.1%, although it was up towards most different Asian currencies and people uncovered to China or commodities together with the Australian greenback AUD=.

The Aussie AUD=D3, a liquid proxy for rising market and China threat, slipped to a contemporary seven-month trough at $0.6748 after shedding 1.6% final week.

The Swiss franc CHF= was additionally boosted by safe-haven demand from the escalating commerce tensions. Trump can be eyeing tariffs on the European Union, however is but to make any formal bulletins. The euro EUR= was comparatively regular on the greenback at $1.1119.

Sterling GBP= hovered close to 2017 lows at $1.2159, pressured by considerations about Britain exiting the European Union and not using a deal in place.

The pound has been whiplashed since late final month when Boris Johnson, a figurehead for the “go away” marketing campaign within the 2016 Brexit referendum, turned the nation’s prime minister.

Oil prolonged losses with U.S crude off 26 cents at 55.40 and Brent down 35 cents at $61.54.

Modifying by Sam Holmes and Richard Borsuk

[ad_2]

Supply hyperlink

LSE’s bid for Refinitiv spotlights quest for knowledge, globality

[ad_1]

LONDON/NEW YORK (Reuters) – London Inventory Alternate Group Plc’s (LSE.L) deliberate buy of Refinitiv in a $27 billion deal is the most recent signal that trade operators are focusing extra on knowledge merchandise to extend income, whereas additionally attempting to develop their international attain.

FILE PHOTO: An commercial for Refinitiv is seen on a display screen in London’s Canary Wharf monetary centre, London, Britain, October 2, 2018. REUTERS/Russell Boyce

For greater than a decade, trade operators across the globe have been attempting to consolidate. However proposed tie-ups between main rivals have failed a number of instances up to now due to resistance from authorities authorities who both had antitrust issues or didn’t desire a international firm working what was typically seen as a nationwide image.

On the identical time, earnings from the normal enterprise of facilitating transactions like inventory trades have fallen, pushing the business to search for associated companies for development, analysts and business sources mentioned.

As a result of income from knowledge merchandise has been rising and is predicted to proceed doing so, exchanges are actually hungry for these merchandise in addition to promoting companies primarily based off that knowledge and data, similar to indexes and fee-based companies they’ll supply as soon as a commerce has cleared.

“Information is the lifeblood of monetary markets immediately now greater than ever – and that knowledge is getting increasingly helpful,” mentioned Kevin McPartland, head of market construction and expertise analysis at Greenwich Associates.

If accomplished, LSE’s deal to purchase Refinitiv, a worldwide monetary knowledge analytics supplier, from buyout agency Blackstone Group Inc (BX.N) and Thomson Reuters Corp (TRI.TO) will match that mould, the analysts mentioned.

“It simply makes them extra aggressive and extra interesting as a companion for purchasers as a result of it brings collectively much more than what LSE had earlier than,” mentioned Spencer Mindlin, an Aite Group analyst who focuses on capital markets buying and selling expertise.

LSE and Thomson Reuters declined to remark for this text, referring to their earlier statements that confirmed they have been in discussions for a deal. Blackstone didn’t have an instantaneous remark.

In its assertion, LSE mentioned a deal would assist develop its knowledge and distribution capabilities, diversify buying and selling capabilities and improve international footprint, permitting it to learn from “future data- and technology-enabled development alternatives.”

LSE mentioned it expects to chop greater than 350 million kilos in annual prices for 5 years after the deal closes, and add to its earnings per share within the first full 12 months after completion.

GLOBAL EXPANSION

Refinitiv relies in London and reaches greater than 40,000 shoppers, who’re largely merchants and funding professionals, in additional than 190 international locations.

Patrick Younger, an business guide at Alternate Make investments, mentioned LSE’s deal for Refinitiv can be “a significant pivot away from the EU” for the trade operator.

Simply final month, London Inventory Alternate Chief Govt David Schwimmer mentioned it was tough even to contemplate large mergers due to political opposition.

The corporate failed a number of instances to merge with Germany’s Deutsche Boerse AG .GDAXI and beforehand failed to amass Canada’s principal trade, TSX Inc.

These collapsed offers mirror proposed cross-border marriages that didn’t work, together with Singapore Alternate Ltd’s (SGXL.SI) try to purchase Australia’s ASX Ltd (ASX.AX) in 2011.

QUEST TO DIVERSIFY

Main exchanges, together with Intercontinental Alternate Inc (ICE.N), Nasdaq Inc (NDAQ.O) and Deutsche Boerse, have been extra profitable in inking smaller offers that diversify their companies away from fundamental inventory buying and selling.

Probably the most fundamental companies that exchanges present are real-time market knowledge feeds. In the US, that generates about $1.four billion in annual income for the business, in response to Greenwich Associates. Exchanges generate billions extra in knowledge income past that for associated services.

Buyers and banks that pay for the data have been pushing again on pricing. Some funding companies have known as on the European Union’s markets watchdog ESMA to overview market knowledge charges, saying they carry on rising regardless of falling prices of computing and knowledge storage.

At London Inventory Alternate, former chief government Xavier Rolet started to diversify income after taking the helm in 2009.

FILE PHOTO: The London Inventory Alternate Group places of work are seen within the Metropolis of London, Britain, December 29, 2017. REUTERS/Toby Melville

In the present day, info companies account for practically 40% of the group’s 2.14 billion kilos ($2.65 billion) in annual revenues, in response to its 2018 annual report. That portion is adopted by post-trade companies at simply over one-third.

Conventional capital markets enterprise like inventory buying and selling and preliminary public choices accounted for simply 19% of income final 12 months, in contrast with round 46% a decade in the past.

(This story corrects paragraph 19 to interchange reference to “consolidated market feeds” with “real-time market knowledge feeds”).

Further reporting by Michelle Worth in Washington D.C., Noor Zainab Hussain in Bangalore and Pamela Barbaglia in London; Modifying by Lauren LaCapra, Paritosh Bansal and Daniel Wallis

[ad_2]

Supply hyperlink