Accor to buy owner of Fairmont, Raffles and Swissotel brands for US$2.9 billion
Hotelier Accor SA has agreed to buy the owner of the luxury Fairmont, Raffles and Swissotel brands for about US$2.9 billion (S$4.1 billion) in shares and cash. Europe's biggest hotel operator will pay 46.7 million new shares and US$840 million in cash for FRHI Holdings, Accor said in a statement on Wednesday (Dec 9).
SGX Bond Pro successfully launched to provide OTC trading in Asian bonds
Singapore Exchange (SGX) has successfully launched SGX Bond Pro, the first Over-The-Counter (OTC) trading venue dedicated to Asian bonds, it said on Thursday (Dec 10).
DBS Bank opens learning centre to groom finance industry talent
DBS Bank unveiled its new learning centre called the DBS Academy on Thursday (Dec 10), with the aim to groom talent for Singapore's finance industry. The 40,000 square feet centre is meant to be an innovative learning space that encourages creative approaches to banking in Asia.
Funan DigitalLife Mall to be redeveloped: 6 things about the iconic IT mall
CapitaLand Mall Trust Management Limited said on Thursday morning that it will be redeveloping Funan DigitaLife Mall into an "experiential creative hub". The mall has been a popular haunt among shoppers seeking IT goods over the past few decades.
CDL re-enters Australian residential market with Brisbane condo
City Developments has made a re-entry into the Australian residential sector, with plans to develop a site in Brisbane, the firm said on Thursday (Dec 10).
Australian employment surges by highest level in 15 years in November
Australian employment surged by the most in over 15 years in November and nudged the unemployment rate to a 19 month-low, but so stunning was the result that it revived doubts about the reliability of the data.
In Australia, banks disrupt Apple with mobile payments power
Apple Inc is struggling to persuade Australia's big banks to sign up for its Apple Pay mobile payment system, people familiar with the matter say, as the technology giant works from an unfamiliar negotiating position: weakness, not strength. Apple rolled out the service in Australia last month with support for payment cards issued directly by American Express.
Toshiba job cuts could top 1,000: Nikkei
Japanese conglomerate Toshiba Corp could cut more than 1,000 jobs as it overhauls its weaker operations, including through an imminent sale of its Indonesian television factory, the Nikkei business daily reported on Thursday (Dec 10).
Royal Dutch Shell mulling exit from New Zealand after more than 100 years
Royal Dutch Shell Plc, which reported its biggest net loss in more than a decade in October and has halted projects in Canada and the Arctic, is reviewing its investments in New Zealand, from gas fields to pipelines.
Billions of barrels of oil to vanish from oil producers' books in accounting rule change
In an instant, Chesapeake Energy will erase the equivalent of 1.1 billion barrels of oil from its books. Across the American shale patch, companies are being forced to square their reported oil reserves with hard economic reality.
