Markets

The Ministry of Health (MOH) confirmed 18 new cases of Covid-19 infection in Singapore on June 22, 2021. The total number of Covid-19 cases reported in Singapore is now 62,448. 16 new locations added to list of places visited by infectious Covid-19 cases MOH regularly updates a list of public places visited by confirmed Covid-19 cases for more than 30 minutes while they were infectious. 16 new locations were added to the list on June 22: Those who had been identified as close contacts of confirmed cases would already have been notified by MOH. As a precautionary measure, visitors to these locations during the specified timings should monitor their health closely for 14 days from their date of visit. They should see a doctor promptly if they develop symptoms of acute respiratory infection (such as cough, sore throat and runny nose), as well as fever and loss of taste or smell, and inform the doctor of their exposure history. Individuals may also access ... » Learn More about Redhill Market & Tiong Bahru Plaza among 16 new locations visited by infectious Covid-19 cases

BRUSSELS: Google was in the EU antitrust spotlight again on Tuesday as regulators opened an investigation into whether its digital advertising business gives the Alphabet unit an unfair advantage over rivals and advertisers. The European Union competition enforcer's move marks a new front against Google and follows more than 8 billion euros (US$9.5 billion) in fines over the past decade for blocking rivals in online shopping, Android smartphones and online advertising. The European Commission said it would investigate whether Google distorts competition by restricting third party access to user data for advertising purposes on websites and apps, while reserving such data for its own use. "We are concerned that Google has made it harder for rival online advertising services to compete in the so-called ad tech stack," European Competition Commissioner Margrethe Vestager said in a statement. Google generated US$147 billion in revenue from online ads last year, more than any ... » Learn More about Google in EU crosshairs again with advertising antitrust inquiry

PARIS (Reuters) -Shareholders in Vivendi applauded on Tuesday the French media giant's plan to spin off its $39 billion Universal music business, underpinning Vincent Bollore's grip on the group and ignoring concerns expressed by several funds. Bluebell Capital Partners and investment fund Artisan Partners said the transaction was unfavourable to some investors, setting the stage for what could have been a standoff between the French tycoon and some minority shareholders. Instead, the proposal to spin-off Universal Music Group (UMG), which involves distributing 60% of Universal's shares to Vivendi shareholders, received more than 99% of the votes in favour. Vivendi plans to list Universal, valued at 33 billion euros ($39 billion) by its parent company, in Amsterdam in autumn. The group said Universal could make its market debut on Sept. 21. Bollore, Vivendi's controlling shareholder with a 27% stake, would be one of the first beneficiaries of the transaction after listing the ... » Learn More about Bollore scores win as Vivendi investors back $39 billion Universal spin-off

Douyin, the Chinese version of TikTok , has launched a web version of its app accessible to desktop users, shifting away from its “mobile-only” strategy as it seeks new growth in a saturated market. Douyin.com has much of the same functionality as the app, allowing users to search, upload, watch, like and comment on videos and livestreamed content. However, the web version looks more like a traditional video site, with an endless scroll of video thumbnails on the homepage for users to browse. This is in contrast to the app, which forces users to swipe through one video at a time. The website still relies on the platform’s signature recommendation algorithm, developed by the app’s owner ByteDance and a primary contributor to its success, which displays tailored videos depending on the user and device. The website is designed to “satisfy users’ needs for different scenarios”, a Douyin representative said. “Some professors and schools post educational or instructional content ... » Learn More about China’s TikTok gets its own web version as user growth plateaus, nearing the country’s total mobile user base

Tencent Holdings and Alibaba Group Holding are among the top 10 most valuable brands in the world as Chinese consumer Internet companies continue to mature despite antitrust scrutiny and intense competition at home. Kantar, a London-based data and consulting company, published its annual BrandZ report on June 21, evaluating 18,500 brands in 51 markets around the world, ranking the top 100 using a calculation based on the financial value of the parent company and the ability of the brand to grow sales. The top 100 brands were worth a combined US$7.1 trillion (RM29.52 trillion), according to Kantar. Tencent, owner of Chinese super app WeChat, took fifth spot, up from seventh last year, with a brand valuation of US$241bil (RM1 trillion), while e-commerce giant Alibaba (owner of the Post ) fell from sixth to seventh with a valuation of US$197bil (RM819.32bil). Amazon retained its position as the world’s top brand with an estimated value of US$684bil (RM2.84 trillion), followed by ... » Learn More about Chinese tech names among the fastest growing valuable brands in the world but US companies still dominate

MUMBAI (Reuters) - India's proposed changes to consumer rules for the e-commerce sector could be hugely disruptive for some of the country's biggest online shopping websites, including U.S.-based Amazon and Walmart's Flipkart. The rules come as U.S. firms battle allegations from traders for working around foreign investment regulations for the sector, and could further complicate the operating environment for Amazon and Flipkart even as the companies fight antitrust allegations in courts. The companies deny any wrongdoing. India's e-commerce market is projected to grow 30% annually to $200 billion by 2026. It also counts Reliance Industries' JioMart, Tata's BigBasket, Softbank-backed Snapdeal and Future Retail among major players. Here are some of the new proposals, which are open for public consultation until July 6: AFFILIATES AS SELLERS E-commerce companies must ensure none of their "related parties and associated enterprises" are listed as sellers on their shopping ... » Learn More about Factbox: India’s new e-commerce rules that could jolt foreign, local players

The Ministry of Health (MOH) has confirmed 18 new cases of Covid-19 infection in Singapore as of 12pm on Tuesday (June 22). This brings the total number of cases to 62,448. There are 15 cases in the community today, of whom 10 are linked to previous cases and five are currently unlinked. Five currently unlinked cases Case 64374 Case 64374 is a 26-year-old female Singapore Permanent Resident who works as an analyst at Deutsche Bank, and is a household contact of Case 64373. She developed a fever and sore throat on June 15, and subsequently a runny nose and cough on June 17. She sought medical treatment at a General Practitioner (GP) clinic on June 17 but declined to be tested for Covid-19. She was given five days’ medical leave and advised to self-isolate. After Case 64373 tested positive for Covid-19 infection on June 21, the bank analyst visited a GP clinic on the same day, where she underwent both an antigen rapid test (ART) and polymerase chain reaction ... » Learn More about 2 new clusters including Redhill Close, driver & Deutsche Bank analyst among 5 new unlinked Covid-19 cases

LONDON: Formula One has extended a partnership with sports merchandise retailer Fanatics after a U.S.-led surge in sales, the Liberty Media-owned sport said on Tuesday. Formula One said sales on its official online store had grown 40per cent globally in 2020. "This strong performance has accelerated in the first six months of 2021, with sales on the official online F1 store growing by triple digits compared to the same period in 2020," it added. The United States had become the most significant market, it added. Formula One is adding a second U.S. race in Miami next year and has gained a higher profile thanks to the popularity of the Netflix series "Drive to Survive" which is now filming its fourth season. The sport has a record 23 races scheduled for this season, with Mercedes' Lewis Hamilton chasing an unprecedented eighth title but locked in a thrilling battle with Red Bull's Max Verstappen. Florida-based Fanatics operates online stores and sells products for ... » Learn More about Motor racing-Formula One extends deal with Fanatics after surge in sales

SINGAPORE (The Straits Times/ANN): There were 18 new coronavirus cases confirmed at noon on Tuesday (June 22), taking Singapore's total to 62,448. Of these, 15 were community cases - five of which are currently unlinked. There were no cases from migrant workers' dormitories, and three imported cases who had been placed on stay-home notice on arrival in Singapore, said the Ministry of Health (MOH). On Monday night, MOH said a 44-year-old man died of complications from Covid-19 infection on Sunday. This brings Singapore's death toll from the coronavirus to 35. The man was admitted to Alexandra Hospital on May 25 and was confirmed to have the Covid-19 infection the next day. He had not been vaccinated against Covid-19, and had a history of diabetes, said MOH. Alexandra Hospital has contacted his family and is extending assistance to them, added the ministry. MOH said that special testing operations will be conducted for all staff at the FairPrice supermarket at 166 Bukit ... » Learn More about 18 new Covid-19 cases in Singapore, including 15 in community

A 49-year-old Housing and Development Board terraced house in Whampoa was sold for a record S$1.268 million in June 2021. The 99-year leasehold unit is located at Block 39 Jalan Bahagia, which is also part of the greater Balestier and Toa Payoh precinct. The two-storey landed corner terrace unit is 210 sq m -- a rare unit that is extremely huge by public housing standards. It was only put up on the market for two weeks in May, according to The Straits Times . Interior of HDB terrace house Originally a three-room maisonette, the house was renovated and had its layout rearranged 10 years ago at a cost of S$250,000 to become a four-bedroom, two-toilet set-up. It currently resembles a fully-furnished chalet. The interior consists of a walk-in wardrobe, loft, side yard, side gate, spacious living room, and ample storage space. The house also has sufficient privacy, as the front gate opens to a huge green public field and is at a ... » Learn More about 49-year-old Whampoa HDB terraced house sold for record S$1.268 million