Sunday, 12 Jan 2025

Business

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JPMorgan misses profit estimates as bond trading slumps

(Reuters) – JPMorgan Chase & Co (JPM.N) reported a lower-than-expected quarterly profit as weakness in bond trading due to spikes in market volatility at the end of the year more than offset gains from higher interest rates and loan growth. Shares of the largest U.S. bank by assets fell 3 percent in early trading as […]

Singapore aiming to become region's urban agriculture technology hub: Koh Poh Koon

SINGAPORE – Singapore has the “right ingredients” to make it the urban agriculture and aquaculture technology hub in the region, Dr Koh Poh Koon, Senior Minister of State for Trade and Industry, said on Tuesday (Jan 15). In a keynote speech at the Indoor Ag-Con Asia conference at Marina Bay Sands Expo and Convention Centre, […]

Alaska officials probing BP oil, gas wells at Prudhoe Bay after spill

ANCHORAGE, Alaska (Reuters) – Regulators in the U.S. state of Alaska will investigate all of the oil and natural gas wells operated by BP Plc at its Prudhoe Bay oil field after the release of a small amount of crude oil and gas from a well that had earlier been shut. The Alaska Oil and […]

Eurozone economy 'shifts down a gear' as output slows

The latest economic data from the eurozone, released yesterday, confirmed that the 19-member bloc appeared to be moving towards a period of slower output growth, putting the European Central Bank on notice over its plans to raise interest rates. Industrial production fell 1.7pc in November from October and was down 3.3pc from a year earlier. […]

No clear path for California as massive PG&E utility nears bankruptcy

SACRAMENTO, Calif. (Reuters) – PG&E Corp’s announcement that it will file for bankruptcy, citing massive potential liability from deadly wildfires, puts California politicians in quandary, whether to offer a bailout or risk allowing the state’s largest private utility to fail. Governor Gavin Newsom, a Democrat, told reporters late on Monday his team was discussing the […]

Fears grow for Debenhams jobs as stores facing axe set to double

More than 1,400 Debenhams workers in Ireland face fresh uncertainty about their jobs after a report that the embattled department store chain is to nearly double the number of outlets it intends to close across the UK and Ireland over the next three to five years. The ‘Daily Telegraph’ reported that Debenhams now intends to […]

Oil rises 1 percent on supply cuts, but gloomy economic outlook caps gains

SINGAPORE (Reuters) – Oil prices rose by 1 percent on Tuesday amid supply cuts by producer club OPEC and Russia, although analysts said much bigger gains were unlikely because of a darkening economic outlook capped gains. International Brent crude oil futures LCOc1 were at $59.62 per barrel at 0133 GMT, up 63 cents, or 1.1 […]