Market highlights

1. Beleaguered German auto giant Volkswagen said worldwide sales of its own-brand VW cars slid 2.4 per cent last month and the figure for the whole of this year was likely to fall short of last year's level, Agence France-Presse reported.

2. Crude oil prices yesterday hit fresh seven-year lows as the International Energy Agency warned that global oversupply could worsen in the new year. Brent slipped below US$39 per barrel, a first since December 2008, Reuters reported.

3. Cordlife Group says its defamation claim has been amicably resolved through the mediation process led by the Singapore Mediation Centre. The defendant has given an unequivocal and unqualified statement of apology.

4. Barclays' chief executive officer Jes Staley has extended a freeze on hiring new staff indefinitely as he deepens cost cuts to boost profitability at Britain's second-largest lender, Bloomberg reported.

5. PS Group said that it expects to report a net loss for the financial year ending Dec 31. The expected loss is mainly due to the write-down of inventories and the pressures on margins from the strengthening greenback.

A version of this article appeared in the print edition of The Straits Times on December 12, 2015, with the headline 'Market highlights'. Print Edition | Subscribe