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Singapore’s planned political succession that would see Finance Minister Lawrence Wong become the country’s next leader will coincide with general elections due by 2025, Prime Minister Lee Hsien Loong said. The political landscape is getting more competitive, and Lee told members of his People’s Action Party that it’s imperative for them to keep Singaporeans on their side to ensure a ...

J Sainsbury Plc’s profit is falling after the supermarket absorbed some of its own surging costs to limit price increases for cash-strapped consumers at a time when UK grocers are fighting to maintain market share. Britain’s second-largest supermarket chain said retail operating profit fell 9% in the first half as it invested in key product categories to keep prices competitive ...

Boeing Co.’s proposed sale of 36 new F-15 fighter jets and equipment to Indonesia has hit a snag over financing, according to people familiar with the matter. Executives from the US plane-maker flew to Jakarta this week to discuss the transaction with Indonesian officials on the sidelines of an annual defense exhibition, the people said, asking not to be identified ...

Singapore Airlines Ltd. posted a second consecutive quarterly profit as it continues to rebuild from the Covid crisis, which saddled it with record losses in 2021. Net income was S$557 million ($394 million) in the three months through September, compared with a loss of S$428 million a year earlier, Singapore Airlines said in a statement. Revenue was S$4.5 billion, up ...

Italy will speed up drilling for new sources of domestic gas in a bid to lower energy prices for its industries, reversing a decade of restrictions on new exploration. The plan is part of the new Prime Minister Giorgia Meloni’s first budget law, and the government is pledging €30 billion of additional energy aid. The government estimated about 15 billion ...

Britons are paying more than £2 billion ($2.28 billion) to help people heat the country’s biggest houses because of the government’s decision to cap energy bills for everyone rather than target the aid. Subsidising the gas and electricity for homes with at least five bedrooms will cost approximately £1.62 billion between October 2022 and March 2023, according to Bloomberg calculations. ...

Shares of Brazil’s state-controlled oil producer Petrobras erased their gains for the year as fears of increased political intervention with Luiz Inacio Lula da Silva as president are driving investors to dump the stock. Petroleo Brasileiro SA’s shares closed down 5.5% to 28.30 reais in Sao Paulo, and have shed over $20 billion in market value since their October peak. ...

Conor Sen All the tightening moves by the Federal Reserve this year to rein in inflation are supposed to lead to less hiring and spending by companies. But there is no law that says the biggest, most profitable companies have to cut back if they don’t feel like it. And the cuts showing up in this quarter’s earnings reports from ...

Stuart Trow The cost-of-living crisis has prompted more young workers to opt out of their workplace pensions, forgoing contributions from both their employers and the government. According to investment platform AJ Bell, 34% of workers have opted out or are considering doing so, a figure that rises to 47% for 18- to 34-year-olds. This is the opposite of what this ...

Cash is king, with investors fleeing to the safety of cash funds at the fastest pace since the coronavirus pandemic as the Federal Reserve remains firmly hawkish, according to strategists at Bank of America Corp (BofA). The asset class had inflows of $62.1 billion in the week through November 2, according to a note from the bank citing EPFR Global ...