Investor hit with $2k penalty for breaching disclosure rules

An investor who breached disclosure rules regarding his holdings in a Catalist-listed firm has been hit with a civil penalty of $200,000. It is the first such action for contravening shareholding disclosure obligations under the Securities and Futures Act since the civil penalty regime was tightened in November 2012. Mr Lim Soon Fang became a substantial shareholder – one holding […]

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Wall Street strikes new high as housing data fuels optimism

(Reuters) – Wall Street edged up to record highs on Friday after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes of a rebound in global growth. Market sentiment brightened further this week after the United States and China sealed a Phase 1 trade deal, pausing an 18-month tariff dispute that has weighed on financial […]

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Exclusive: HSBC cutting around 100 staff in equities business – sources

HONG KONG/LONDON (Reuters) – HSBC (HSBA.L) is cutting around 100 roles in its equities business with the bulk of the layoffs falling on its continental European trading floors, sources familiar with the matter told Reuters. The cuts are across the bank’s equities research, sales, trading and back office business departments, the sources said, and will include a handful of job […]

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Senate passes North America trade deal, Canada still to approve

WASHINGTON (Reuters) – The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged. The legislation to implement the U.S.-Mexico-Canada Agreement passed on an 89-10 bipartisan vote, sending the measure to President Donald Trump for […]

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S&P 500 cracks 3,300 on strong bank earnings and retail data

(Reuters) – The S&P 500 hit the 3,300 mark for the first time on Thursday and the other main U.S. indexes also broke record highs, fueled by solid retail sales data and upbeat Morgan Stanley earnings. Morgan Stanley (MS.N) jumped 7.5% to lead the S&P 500 after it beat quarterly profit estimates and raised its performance goals, closing out several […]

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Stocks bask in U.S.-China trade-deal afterglow

LONDON (Reuters) – World stocks remained near record highs on Thursday, after the United States and China signed the first phase of an agreement to end their 18-month trade war. MSCI’s broadest index of world stocks was up 0.1%. London, Frankfurt, Paris helped Europe start stronger, after China’s biggest stocks dipped overnight. [.SS] The deal signed by U.S. President Donald […]

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