Bizview: Today's top business news

STI closes up 27 points on positive leave from Wall Street, Chinese rally

Singapore shares tracked a positive lead from Wall Street and a rally in Chinese stocks in the last hour of trade on Wednesday on suspected intervention from Beijing. The benchmark Straits Times Index recovered above the 2,850 support, rising 26.80 points or 0.94 per cent to 2,868.74.

Singapore August exports likely weak, odds of technical recession rising: Economists

Singapore's exports figures for August will likely remain poor, economists cautioned, warning that the probability of a technical recession in the third quarter is increasing.

Asia Pacific millionaires to become world's richest: report

Asia Pacific millionaires are set to become the world's richest this year, a report said Wednesday, driven largely by wealthy individuals in India and China.

Asean billionaires feel devaluation pain as interest bills rise

Two of Southeast Asia's richest businessmen are experiencing the weight of US dollar strength after loading their business empires up with cheap US currency debt.

OECD cuts global growth outlook for 2015, 2016

The The Organisation for Economic Cooperation and Development (OECD) cut its world economic growth forecasts for 2015 and 2016 on Wednesday, warning of a dramatic slowdown in Brazil and a global outlook clouded by uncertainty over China.

China scraps overseas debt quotas after capital outflows worsen

China removed quotas for companies to raise funds in the overseas bond and loan markets, in a step that may help slow capital outflows spurred by a currency devaluation.

HP to cut up to 30,000 more jobs as US tech giant splits

Hewlett-Packard, the technology company splitting into two separate entities, said it will cut 25,000 to 30,000 more jobs as chief executive officer Meg Whitman tries to refashion the business for a rapidly changing technology market.