Exxon expects cut of 10% to 15% in Singapore workforce by end-2027

Bloomberg's 'The Asia Trade' is your go-to source for essential insights as the trading day kicks off in Asia. Broadcasting live from major cities like Tokyo, Singapore, and Sydney, the show features expert analysis from hosts Shery Ahn, Avril Hong, and Paul Allen, along with perspectives from key industry figures. This program is crucial for anyone looking to stay ahead in the fast-paced world of global markets.

In a significant legal ruling, Singapore's High Court has prevented foreign liquidators from pursuing lawsuits against Standard Chartered Plc and BSI Bank Ltd. regarding transactions tied to the 1Malaysia Development Bhd (1MDB) scandal. This decision is crucial as it highlights Singapore's judicial stance on international financial disputes and its implications for the ongoing investigations into the 1MDB case, which has drawn global attention due to its scale and complexity.

Pandu Sjahrir, the Chief Investment Officer of Indonesia's sovereign wealth fund Danantara, recently shared insights on investment opportunities during a conversation with Haslinda Amin at the Milken Institute Asia Summit in Singapore. This discussion is significant as it highlights Indonesia's strategic approach to attracting investments, which could bolster the country's economic growth and enhance its global financial standing.

Temasek Holdings, Singapore's state investment firm, has significantly increased its investments in public equities over the past 18 months, as revealed by CEO Dilhan Pillay. This shift towards a more active investment strategy, termed 'Active Alpha,' highlights Temasek's commitment to adapting to market conditions and seeking better returns. This move is important as it reflects a broader trend among institutional investors to capitalize on market opportunities, potentially leading to enhanced portfolio performance.

Exxon has joined the ranks of major oil companies announcing job cuts as the industry grapples with the ongoing challenge of lower oil prices. This trend highlights the tough reality for workers in the sector and raises concerns about the future of employment in an industry that is trying to adapt to changing economic conditions.

London's recent drop from the top 20 initial public offering markets is a significant setback for its reputation as a global finance hub. With Mexico and Singapore now leading the way, this shift highlights the increasing competition in the financial sector and raises concerns about London's future in attracting investments. It's a wake-up call for the city to reassess its strategies to regain its competitive edge.

Dyson has reported a nearly 50% drop in profits during a challenging year, with revenues falling by over £500 million. This downturn comes as the company, founded by billionaire Sir James Dyson, has had to cut more than a quarter of its UK workforce. The move to Singapore in 2019 was intended to secure the company's future, but the current financial struggles highlight the difficulties faced in the home appliances market. This situation is significant as it reflects broader economic challenges and raises questions about the sustainability of such major companies in tough times.

Democracy activist Nathan Law has been denied entry to Singapore, highlighting ongoing tensions surrounding Hong Kong's political climate. This incident is significant as it underscores the challenges faced by pro-democracy figures and raises concerns about freedom of movement for activists. Law, a prominent leader of the Umbrella Movement, is currently facing a bounty for his arrest in Hong Kong, which reflects the government's crackdown on dissent. The situation draws international attention to the state of democracy in the region.

Bloomberg's 'The Asia Trade' is your go-to source for essential insights as the trading day kicks off in Asia. Broadcasting live from Tokyo and Singapore, hosts Shery Ahn and Avril Hong provide expert analysis and commentary from key figures in the industry. This program is crucial for anyone looking to stay informed about the major developments that influence global markets.

The UK's FTSE 100 index has reached a record high, marking a significant milestone as investors remain optimistic despite concerns over a potential US government shutdown. This surge comes as global stocks celebrate their best September performance since 2013, reflecting a resilient market sentiment. The rise in the FTSE 100 is particularly noteworthy given the backdrop of declining business confidence in the UK and a contraction in the eurozone's manufacturing sector. This positive trend in the stock market is crucial as it indicates investor confidence and economic stability, which can lead to further investments and growth.

PPE Medpro, a company linked to Baroness Mone, has been ordered by the court to repay £122 million in damages related to a PPE contract. This ruling highlights the ongoing scrutiny of government contracts and the accountability of companies involved in public health procurement, especially in the wake of the pandemic.

Greggs has announced another price increase for its breakfast meal deals and biscuits due to ongoing cost pressures. This move is significant as it reflects the broader trend of rising prices in the food industry, which could impact consumer spending and dining habits. Customers may need to adjust their budgets as they face higher costs for their favorite meals.

Gold Royalty has successfully expanded its portfolio to include 250 assets following a significant deal involving the Spanish Moon project. This expansion is crucial as it not only enhances the company's asset base but also positions it for greater opportunities in the gold market, reflecting a strong growth strategy that could benefit investors and stakeholders alike.

DuPont has announced the final results of its exchange offers for senior notes, marking a significant step in its financial strategy. This move is important as it reflects the company's efforts to manage its debt and optimize its capital structure, which can ultimately impact its financial health and investor confidence.

In response to looming tariff threats, global drugmakers are rapidly increasing their presence in the U.S. market. This move is significant as it not only reflects the companies' commitment to maintaining access to one of the largest pharmaceutical markets but also highlights the ongoing shifts in global trade dynamics. By bolstering their operations in the U.S., these companies aim to mitigate potential impacts from tariffs, ensuring they can continue to deliver essential medications to American consumers.