US says Google pays over $13 billion a year to dominate searches
WASHINGTON – The US government on Tuesday accused Google of paying out US$10 billion (S$13.6 billion) a year to Apple and other firms in order to safeguard its monopoly over…
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UBS to cut 3000 Swiss jobs as it slashes costs by $13.5 billion
ZURICH – UBS Group plans to cut 3,000 jobs in Switzerland in the next couple of years, as it offered the first glimpse of how it plans to achieve more than US$10 billion (S$13.5…
China to end Ant Group regulatory revamp with fine of $1.49B
HONG KONG – Chinese authorities are likely to announce a fine of at least 8 billion yuan (S$1.49 billion) on Ant Group as soon as Friday, sources with direct knowledge of the…
Shell posts higher Q1 profit of $12.8 billion despite lower energy prices
LONDON – Shell on Thursday posted first-quarter net profit of US$9.65 billion (S$12.8 billion), topping analysts’ forecasts, as strong earnings from fuel trading offset cooling…
Elon Musk wealth plunges $17 billion as drama unfolds across empire
NEW YORK – It has been a tumultuous 24 hours for billionaire Elon Musk. Tesla disappointed investors with its first-quarter results, sending the electric-car maker’s shares down…
Singapore tech stock rout intensifies with $148 billion wipeout in 2022
SINGAPORE – Investors betting on Singapore’s two largest Internet companies are staring down hefty losses as rising interest rates and recession risks extended a tech rout that…
China state banks pledge at least $52 billion to property developers
BEIJING – China’s mega state-owned banks are offering at least 270 billion yuan (S$52 billion) in new credit to property developers as part of the nation’s push to ease turmoil…
Asia spent $71 billion in September to defend currencies from strong US dollar
NEW YORK – Asian governments spent about US$50 billion (S$71 billion) in foreign exchange reserves last month – the highest level since March 2020 – to defend their currencies…
Asia spent $71.6 billion in September to defend currencies from strong US dollar
NEW YORK – Asian governments spent about US$50 billion (S$71.6 billion) in foreign-exchange reserves last month – the highest level since March 2020 – to defend their currencies…
Sats said in talks to buy Worldwide Flight Services for up to $4.2 billion
SINGAPORE – Catering and gateway services provider Sats is in talks to acquire air cargo handler Worldwide Flight Services from its private equity owner Cerberus Capital…