THE following companies saw new developments that may affect trading of their securities on Friday (Nov 17):$Singtel(Z74.SI)$: SINGTEL said the upgrading of Singtel Internet Exchange, STiX, was not the root cause of the Optus network outage on Nov 8.STiX is Singtel’s Internet peering exchange, acting as an infrastructure “shortcut” that helps move vast amounts of data across the world.“We are aware that Optus experienced a network outage after the upgrade when a significant increase in addresses being propagated through their network triggered preset fail-safes.“However, the upgrade was not the root cause,” the largest telecommunications operator in Singapore said on Thursday (Nov 16), noting that STiX is one of Optus’ international networks con

Singapore Expands E-Money Trials to Pave Way for Digital Sing DollarTHE Monetary Authority of Singapore (MAS) is pushing ahead with plans to explore the potential of issuing and using digital money here.The central bank on Thursday (Nov 16) published a blueprint outlining the infrastructure required for a digital Singapore dollar, and announced that it will be expanding trials on digital money.MAS will also issue a “live” central bank digital currency (CBDC) for wholesale settlement, with plans to start developing CBDCs for wholesale interbank settlement next year.OCBC Makes First Acquisition Under CEO Wong With Indonesia DealOversea-Chinese Banking Corp. agreed to buy Commonwealth Bank of Australia’s Indonesian banking unit, marking Chief Executive Officer Helen Wong’s first takeover sinc

The S&P 500 and the Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts.Market SnapshotThe Dow Jones Industrial Average fell 45.74 points, or 0.13%, to 34,945.47, the S&P 500 rose 5.36 points, or 0.12%, to 4,502.24 and the Nasdaq Composite rose 9.84 points, or 0.07%, to 14,113.67.Market MoversWalmart (WMT) reported third-quarter earnings that beat analysts’ estimates and raised fiscal-year guidance. But the stock fell 8.1%, after the outlook from the world’s largest retailer disappointed.U.S.-listed shares of Alibaba (BABA) fell 9.1% after the Chinese e-commerce and cloud-computing company reported fiscal second-quarter earnings that were

Stocks fell slightly Thursday as this month’s market rally appeared to take a pause.Alibaba (BABA) on Thursday reported quarterly profit that missed market expectations, and said it would not proceed with the full spin-off of its cloud intelligence group. Its U.S. shares fell 8% in morning trading.Shares of Cisco Systems dropped 10% after the company offered weak guidance for the current quarter and full fiscal year. Palo Alto Networks shed 6% after the cybersecurity company issued a dismal forecast on billings. Macy’s stock popped 8% in premarket trading after the company topped fiscal third-quarter earnings estimates.The moves follow a winning day on Wall Street as investors cheered the latest inflation data. The Dow added more than 160 points, finishing its fourth straight winning

THE following companies saw new developments that may affect trading of their securities on Thursday (Nov 16):$Singapore Airlines(C6L.SI)$(SIA) Group on Wednesday (Nov 15) posted a 24.5 per cent year-on-year (yoy) increase in passenger traffic in October, amid robust passenger traffic across all its route regions.Its bourse filing indicated that revenue passenger-kilometre, which measures the number of passengers carried multiplied by the distance flown, rose to 12.1 billion during the month, from 9.7 billion the year before.The growth in passenger traffic outpaced the 23 per cent expansion in its capacity. As a result of this, the group’s passenger load factor (PLF) rose by one percentage point to 87.4 per cent. (Passenger load factor is expres

All Adult Singaporeans to Receive up to S$800 in Assurance Package Support in DecemberAll Singaporean adults will receive between S$200 (US$148) and S$800 in December this year under the Assurance Package, which aims to help with inflation and cost of living concerns. About 2.9 million will receive up to S$600 in Assurance Package Cash, said the Ministry of Finance (MOF) on Wednesday (Nov 15).Singapore October Home Sales Fall as Supply Weakness WeighsSingapore home sales fell for a third month, to the lowest since 2022, as a lack of major property projects being launched continued to drag on the market.New private apartments sold by developers dropped to 203 units in October, according to figures released Wednesday by the Urban Redevelopment Authority.Singapore Wants to Play

Here are Wednesday’s biggest calls on Wall Street:Jefferies upgrades Holley to buy from holdJefferies said it sees sales ramping up for the auto manufacturing company.“We upgrade HLLY to Buy as we expect sales and EBITDA ramp in Q4 against easier compares and see enhanced focus on expanding product offerings to non-legacy markets reaching a wider customer base LT.”Wells Fargo initiates BioMarin as overweightWells said it sees margin expansion for the biotech company.“BMRN: We See Value, Which the New CEO and Activist Involvement Could Help Unlock—Initiate at OW.”UBS reiterates Apple as neutralUBS said its survey checks show wait times for Apple’s iPhone Pro have subsided.“Utilizing UBS Evidence Lab data that tracks iPhone availability across 30 countries, wait times for the iPhone 15 Pro a

U.S. stocks ticked higher Wednesday, as traders tried to extend a strong rally from the previous session on the back of more encouraging inflation data. Wall Street also had its eyes on Washington as lawmakers tried to avoid a government shutdown.Target (TGT) reported third-quarter adjusted earnings of $2.10 a share, beating analysts’ estimates of $1.47, and shares of the retailer jumped 14% in moring trading.October’s producer price index, which measures wholesale prices, fell by 0.5% to mark its biggest monthly drop since April 2020. Not all of the economic data was positive, however, since retail sales also declined.The S&P 500 climbed 1.9%, while the Nasdaq Composite popped about 2.4% higher. It was the best day since April for both indexes. The 30-stock Dow added nearly 490 points