News
QXO secures US$1.8 billion financing led by Temasek, Apollo amid building products consolidation
[GREENWICH, Connecticut] Billionaire Brad Jacobs’ QXO said it has secured an additional US$1.8 billion in financing, led by Singapore’s Temasek Holdings and Apollo Global Management, as the building products...
Wall Street falls at open on worries over Fed autonomy
[NEW YORK] Wall Street’s main indexes opened lower on Monday (Jan 12) after the Trump administration renewed its attacks on the Federal Reserve, stoking fresh worries about the central...
Meta hires ex-Trump adviser Dina Powell McCormick as president, vice-chairman
She will guide overall strategy with a particular focus on Meta’s AI infrastructure efforts[SAN FRANCISCO] Meta Platforms has appointed a former top adviser to US President Donald Trump to...
Volkswagen drops to third in China sales as fast-growing Geely Auto pips it
Legacy foreign carmakers such as Volkswagen have ceded share to Chinese rivals due to a slower shift to EVs[BEIJING] Volkswagen was overtaken by Geely Auto in sales in China...
JPMorgan forecasts 2027 Fed hike; Barclays, Goldman postpone rate cut calls
Data suggests the labour market is holding, aiding belief that the Fed will leave borrowing costs unchanged at its January meeting[NEW YORK] JPMorgan predicts that the US Federal Reserve’s...
Singapore Exchange proposes bond futures for India, South-east Asia
THE Singapore Exchange (SGX) held multiple calls with treasury officials from global banks about introducing futures tied to some Asian government bond markets, according to people familiar with the...
Grab gets approval to test its autonomous vehicle services with the public in Singapore
The community testing phase involves grassroots advisers and residents of Punggol[SINGAPORE] Ride-hailing giant Grab, in partnership with WeRide, has started accepting selected members of the public to test its...
Reliance halts cell-making plans after failed bid for China tech
Its struggles show that companies asked to make India carbon-zero by 2070 cannot progress without better bilateral ties with Beijing[DELHI] Reliance Industries has paused plans to make lithium-ion battery...
UBS rejects proposed Swiss bank rules, moots less costly alternatives
The lender warns the proposal would add huge costs and threaten the continuation of its successful business model[ZURICH] UBS on Monday (Jan 12) rejected government proposals to strengthen regulations...
XPeng hires banks for flying car unit IPO in Hong Kong: sources
XPeng Aeroht’s first mass-produced flying vehicle is scheduled for customer delivery in late 2026[HONG KONG] XPeng has hired banks to work on an initial public offering (IPO) of its...
