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Backlogs, second wave of layoffs keeping US weekly jobless claims high

Millions more Americans likely filed for unemployment benefits last week as backlogs continue to be cleared and disruptions from the novel coronavirus unleash a second wave of layoffs, pointing to another month of staggering job losses in May.

Markets

Schlumberger names new top executives to oversee corporate overhaul

Schlumberger, the world's largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year's historic decline in the oil industry, according to a memo to employees.

Markets

Sea prices US$1b convertible notes at 2.375%

INTERNET company Sea Ltd, which owns e-commerce platform Shopee and game developer Garena, is offering US$1 billion in convertible senior notes due in 2025.

Markets

Exclusive: Schlumberger names new top executives to oversee corporate overhaul

Schlumberger, the world's largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year's historic decline in the oil industry, according to a memo to employees.

Markets

Citi Singapore to return wage support funding to the government

CITI Singapore will return the Jobs Support Scheme (JSS) funding - intended to provide companies with wage support to buffer against the impact of Covid-19 - to the Singapore government.

Markets

Canada Goose lays off 125 workers

Retailer Canada Goose Holdings Inc said on Wednesday it has laid off 125 workers, about 2.5per cent of its global workforce, as part of steps to cope with the impact of COVID-19 on its business.

Markets

Samsung breaks ground for sixth domestic contract chip manufacturing line

South Korea's Samsung Electronics Co Ltd on Thursday said it has broken ground for its sixth domestic contract chip production line, which will make logic chips as part of efforts to reduce its reliance on the volatile memory chip sector.

Markets

HC Surgical: Vanda 1 asked for early redemption of S$5m bond on ‘amicable grounds’

HC Surgical Specialists on Wednesday said that Vanda 1 Investments, managed by Temasek's Heliconia Capital Management, had requested the early redemption of a S$5 million convertible bond on "amicable grounds" and that no specific reason was provided by the investor.

Markets

Australia backs technology in new carbon emissions plan

MELBOURNE: Australia's conservative government on Thursday (May 21) released a fresh plan to tackle climate change, targetting the use of gas, hydrogen, batteries and carbon capture, while avoiding the contentious issue of setting a carbon price. Australia, one of the world's biggest carbon ...

Markets

Thai mall puts pedals in lifts to keep COVID-19 at bay

BANGKOK: A mall in Thailand has swapped lift buttons for foot pedals in an effort to prevent the spread of the coronavirus as well as help restore normalcy and get shoppers spending again. Customers at Bangkok's Seacon Square were surprised and confused this week to find pedals in front...

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