US: Wall Street opens higher as December Fed rate-cut bets grow

US: Wall Street opens higher as December Fed rate-cut bets grow

[NEW YORK] Wall Street’s main stock indexes opened higher on Wednesday (Nov 26), as investors parsed through a fresh batch of economic data and cemented expectations the Federal Reserve could cut interest rates in December. The Dow Jones Industrial Average rose 83.7 points, or 0.18 per cent, at the open to 47,196.15. The S&P 500…

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mm2 Asia gets 90-day extension to hold AGM; deadline is Jan 27 

mm2 Asia gets 90-day extension to hold AGM; deadline is Jan 27 

[SINGAPORE] Entertainment company mm2 Asia has obtained approval from the  Accounting and Corporate Regulatory Authority (Acra) for an extension of time to hold its annual general meeting by Jan 27, 2026.  It has also been granted more time to file its annual return for FY2025; the former operator of Cathay Cineplexes will now have until…

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Allianz to cut up to 1,800 jobs due to AI advances

Allianz to cut up to 1,800 jobs due to AI advances

[MUNICH] German insurance group Allianz plans to cut up to 1,800 jobs in its travel insurance division, mainly in call centres, as artificial intelligence increasingly replaces manual processes, a source familiar with the plans told Reuters on Wednesday (Nov 26). Between 1,500 and 1,800 jobs are set to be eliminated at Allianz Partners over the…

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Hong Kong high rise fire kills four as blaze rips through multiple towers in Tai Po

Hong Kong high rise fire kills four as blaze rips through multiple towers in Tai Po

Four people have died after a massive fire engulfed multiple high-rise towers of a residential complex in Hong Kong’s northern Tai Po district on Wednesday, with thick grey smoke billowing out as emergency services battled to subdue the blaze. Several people remain trapped inside the burning towers, public broadcaster RTHK reported, citing police, while two people are in critical condition having suffered severe…

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Singapore stocks track Wall Street gains; STI up 0.4%

Singapore stocks track Wall Street gains; STI up 0.4%

Across the broader market, gainers outnumber losers 280 to 258, after 1.3 billion securities worth S$1.3 billion change hands [SINGAPORE] Singapore stocks ended higher on Wednesday (Nov 26), tracking overnight gains on Wall Street. The benchmark Straits Times Index (STI) gained 0.4 per cent or 15.93 points to finish at 4,501.56. The iEdge Singapore Next…

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McKinsey cuts about 200 tech jobs, shifts more roles to AI

McKinsey cuts about 200 tech jobs, shifts more roles to AI

The company is not ruling out additional reductions across different functions over the next two years [SINGAPORE] McKinsey & Co cut about 200 global tech jobs in the past week as the consulting firm joins rivals in using artificial intelligence to automate some positions. The company is not ruling out additional reductions across different functions…

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