Bizview: Today's top business news

NOL receives $1.30 per share offer from France's CMA CGM

Shipping line Neptune Orient Lines (NOL) has received an offer of $1.30 a share from France's CMA CGM. The offer, which amounts to a $3.38 billion deal for some 2.6 billion shares, was announced by NOL in a filing to the Singapore Exchange on Monday (Dec 7) afternoon.

SGX looks to boost trading in gold contract with longer hours and other measures

The Singapore Exchange (SGX) is looking to boost liquidity of its faltering gold contract by extending trading hours and allowing jewellers and refiners to participate, an official said on Monday (Dec 7). The bourse launched a 25kg wholesale gold contract in October 2014 with an aim to create a regional benchmark.

Rowsley to join hands with Thomson Medical to develop Johor healthcare megacity

Peter Lim's upcoming healthcare megacity in Iskandar Johor has found a new strategic partner in Thomson Medical, also controlled by the billionaire, which will help develop and promote the 5 billion ringgit (S$5.7 billion) Vantage Bay Healthcare City.

Economic, social pressures to impact global tax rates in future: KPMG survey

Taxpayers around the world can expect to pay more taxes in future, a new survey by tax advisory services KPMG has found. "Many governments worldwide continue to update their tax legislation and expand their tax systems to repay debt and pay for increased social welfare, even as the memory of the last global financial crisis lingers."

Electrolux's S$4.6 billion acquisition of GE Appliances falls through

Sweden's Electrolux said on Monday (Dec 7) its deal to buy General Electric's appliance business had fallen through after GE terminated the US$3.3 billion (S$4.6 billion) agreement with shares in Electrolux expected to fall sharply when they open.

Oil sinks below US$40 a barrel amid talk of a major glut after Opec abandons supply controls

Oil extended losses below US$40 (S$56) a barrel amid speculation that a record global glut will be prolonged as Opec abandoned its long-time strategy of limiting production to control prices. Futures dropped as much as 1.9 per cent in New York after falling 4.2 per cent last week.

CEO Jes Staley said to mull deeper cuts at Barclays Investment Bank

Less than a week into his new job, Barclays Plc Chief Executive Officer Jes Staley is mulling deeper cuts at the securities unit that could see an additional 20 percent of bankers lose their jobs, according to people with knowledge of the matter.