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In the News

Following the latest news in Singapore, Asia and the World

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Investments

In the News

Stocks Discussion

Are US-focused investors reacting to the news on the anti-trust hearing involving Facebook, Amazon, Google and Apple?
Nicholas Tan Yi Da
Nicholas Tan Yi Da
Level 5. Genius
Updated 6d ago
To be honest, I feel sometimes such setbacks if it really happen are just temporary. the companies you mentioned are still great growth companies. And dont forget, in the US, lobbying in very common and might have an impact on these hearings. In fact, i think that if their stocks fall, it would be a good time to chope some up uh, it is still gonna increase in the long term provided their business model is good, no change in fundamentals etc. Personally I am just keeping a portion of my cash to put into these stocks when these stocks are at a discount should another crash comes.
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COVID-19

General

In the News

Hong Kong economy has gotten a boost from staycations and dining deals as the COVID-19 situation picks up. Why do you think this works for Hong Kong and can we expect this for Singapore?
Yep I think we can see a similar trend in Singapore. Malls are a big part of SG and as a result of circuit breaker, many people have probably gotten cabin fever (to some extent or another) and long to go out! Also, with zero to little chances of travelling overseas, everyone's pretty much confined to the limited places they can visit in SG :) Buyer habits and purchasing decisions have also been shaped by lockdown so people are more certain of what they wish to buy when visiting a physical store. They probably either bought it online or did plenty of research before choosing to get something at a brick and mortar store!
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COVID-19

Travel

In the News

Skyscanner is cutting jobs and offices and reducing presence in Singapore after bookings collapse due to COVID-19. What other local companies in the travel industry do you know experienced job cuts?
Several hotels like those under hospitality group Banyan Tree have been reported to lay off staff in Singapore. About 30% of employees under this group have been affected. Seems like the company is trying their best to train their affected staff to help them gain new skills so they can look for other jobs. Klook is said to streamline their workforce by reducing their headcount or getting their employees to take temporary leave. The travel booking start-up has offices in countries including Singapore so there’s a likelihood their employees are affected. However, they seem to have pivoted quite well, focusing on local attractions and stay-home activities which works in favour of Singaporeans while going through circuit breaker. I find it interesting that Singapore airlines isn’t planning to cut jobs despite having been hit hard by covid-19. Since Singapore doesn’t have a market for domestic travel, SIA mainly focuses on international travel which has reduced significantly due to travel bans worldwide. Many of their staff (cabin crew) are reported to take temporary leaves or are re-trained to work as Coronavirus 'Ambassadors'. However, the carrier doesn’t intend to cut jobs and instead, is raising about S$8.8 billion ($6.3 billion) through share and convertible bond sales.
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Stocks Discussion

Investments

In the News

Online Brokerages

Is wirecard's situation due to a fraud or a fundamentally flawed business model?
R
RT1976
Level 3. Wonderkid
Answered 3w ago
For me, it is simple - Fraud. https://markets.businessinsider.com/news/stocks/wirecard-second-executive-arrested-relation-billion-scandal-accounting-cardsystems-germany-2020-7-1029370033 Which company can have several billions that's unaccounted for? Whether can turn around or not is a different issue. In this kind of business environment, it is anyone's guess.
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COVID-19

S&P 500 Index

NYSE (New York Stock Exchange)

SGX

Economics

In the News

3 major US banks have set aside an additional US$23 billion as a buffer against bad loans, highlighting the brittle state of the US economy due to the COVID-19. How does a bad US economy affect us?
I totally agree with you on the state of the US economy. Just look at the DJI (dow jones industrial) index of the US economy in march and the STI (singapore index) There was a massive sell off in the market due to fear for the virus. This massive sell off in the US also stimulates sell of in other stock markets all over the world. It shows that majority of investors are trading in the US markets as that is where most giant companies prefer to list their stock in. Investors like me, invest in the US market and SG market. So imagine me as an investor, fearing about my US stocks, it would also lead to fear of holding my SG stocks. Hence selling off all of my positions. I hope the above explains the theory, it might not be true but at least is makes sense for me.
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COVID-19

In the News

Entertainment

Entertainer

Why is Cirque du Soleil Entertainment Group poised to accept a recapitalization offer from a group of lenders? Is the company struggling? Was it due to COVID-19 and a halt in performances?
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Jul)

Level 9. God of Wisdom
Answered 3w ago
It became a low quality economy centered mass phenomenon instead of a 'deep' cultural thing like former old style circus individual acrobats. And so it was vulnerable to Covid and walks it's earthly way to bankruptcy. https://www.google.ch/amp/s/business.financialpost.com/news/retail-marketing/cirque-du-soleil-files-for-bankruptcy-following-shutdowns/amp
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Income Tax

Policies

In the News

Will many Chinese leave SG once China starts to tax their incomes earned abroad?
Wilson Nid A Break
Wilson Nid A Break
Level 9. God of Wisdom
Answered 4w ago
Unless they can find a better paying/prospects/work-life job back in China
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In the News

COVID-19

Lifestyle

Entertainment

When can hotels be open for staycations again? And if hotels put in safe management measures, will you go for a staycation soon or would you wait?
Clara Ng
Clara Ng, Community Manager at Seedly
Level 6. Master
Answered on 03 Jul 2020
Locals will soon be able to opt for staycations in hotels again as Singapore passes the one-month mark into into phase two of the post-circuit breaker period. Hotels are facing the worst occupancy rates in history, with foreign visitor arrivals to Singapore all but dried up due to the COVID-19 pandemic. The Singapore Tourism Board (STB) has announced that hotels may now apply to resume two activities: providing accommodation to guests for the purpose of leisure, and opening their recreation areas for children. But the STB said in its advisory that all must adhere to various safe management measures to do so. The STB said that the safe management measures that each hotel must comply with include reducing capacity and inter-mingling of hotel visitors in the hotel's lobby and guest facilities, such as disallowing more than five individuals from different households from gathering in any guest room. The hotel must also screen every individual for symptoms, including a fever or a runny nose, before allowing anyone to enter the hotel or each guest facility. It must also have in place rigorous cleaning and disinfecting regimes, and implement the national digital check-in system SafeEntry for every individual entering or leaving the hotel. For the hotel's function areas, the hotel is required, among other things, to identify hot spots for potential bunching of visitors and implement a control mechanism to prevent or disperse crowds. Source: The Straits Times
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Singapore General Elections 2020

In the News

PSP’s Francis Yuen questioned PAP’s Vivian Balakrishnan on what kinds of jobs are they creating for the new 100,000 jobs creation plan. Do you think they're short-term jobs like temperature screeners?
Billy Ko
Billy Ko, Analyst at ClubMed
Level 7. Grand Master
Answered on 04 Jul 2020
Hi! Pertaining to the 100,000 jobs creation plan in question, I believe 1/5 is contributed by the SGUnited Traineeship Programme where employers are able to hire apprentices / trainees for a period of 12 months (of which, 80% of their traineeship allowance will be subsidised) You could find more information here -- https://www.wsg.gov.sg/SGUnitedTraineeships-HostCompanies.html On the short-term jobs, I don't believe that contributes to the 100,000 jobs being planned for. If it does, then perhaps the vision of the government might be slightly myopic. I reckon the short-term jobs being seen as stints to help people who require additional income to tide themselves over this period of time. Here's the actual outline of the 100,000 jobs https://www.straitstimes.com/politics/parliament-2bn-package-to-create-40000-jobs-25000-traineeships-and-30000-skills-training "He (Deputy Prime Minister Heng Swee Keat) told Parliament in his speech on the fourth budget this year that the support, dubbed the SGUnited Jobs and Skills Package, would include 40,000 jobs, 25,000 traineeships and 30,000 skills training opportunities."
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In the News

Singapore General Elections 2020

Min. Balakrishnan asked WP’s Jamus how WP would pay for its programmes. Jamus said differences btw PAP & WP lie on where these trade-offs should occur. So where and who will bear these trade-offs?
PAP believe that consumer should bear the costs (GST tax on consumption) People who spend little will be taxed less than people who spend more. WP believe that rich and high income should bear the costs. As long as the middle income has the the naive optimism that they will one day earn more (high income) or be rich (wealth), income tax and wealth tax will unlikely go up by a lot.
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