World

The best high-yield savings and checking account offered by a big bank
26Dec By Desk TeamNo Comments
World

The best high-yield savings and checking account offered by a big bank

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public. Brick-and-mortar banks may not be known for offering the highest rates, but many consumers find comfort putting their money into an established institution versus a newer online-only bank. Discover is a popular option, as the big-name financial institution still offers savers a competitive rate (unlike many brick-and-mortar banks), as well as other easy access to other Discover accounts that help you manage your money in one place. CNBC Select reviewed the high-yield savings accounts offered by the largest banks and/or credit unions, and we found that the Discover Online Savings Account ranks as our be...
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The deeply reported inside story of Instagram is the 2020 business book of the year, according to the FT
26Dec By Desk TeamNo Comments
World

The deeply reported inside story of Instagram is the 2020 business book of the year, according to the FT

UKRAINE - 2020/11/06: In this photo illustration an Instagram logo is seen displayed on a smartphone. (Photo Illustration by Valera Golovniov/SOPA Images/LightRocket via Getty Images) Looking for business books to inspire you or even to give as gifts? Here are the top business books of the year, according to The Financial Times and McKinsey, including their Business Book of the Year winner for 2020 and the five runners up for the award. 'No Filter: The Inside Story of How Instagram Transformed Business, Celebrity and our Culture' "No Filter," by Bloomberg reporter Sara Frier, was named the winner of the 2020 Business Book of the Year by the Financial Times and McKinsey on Tuesday. Bloomberg News Technology Reporter Sarah Frier speaks onstage during the Onward18 Conference - Day 1 on Oc...
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Airbnb doubles in US market debut, gaining elite status
26Dec By Desk TeamNo Comments
Market, World

Airbnb doubles in US market debut, gaining elite status

NEW YORK: Airbnb shares more than doubled in a sizzling US market debut on Thursday (Dec 10) which vaulted the home-sharing platform into an elite group of richly valued companies. Shares opened at US$146, a dizzying rise after the San Francisco-based firm priced them at US$68 for its initial public offering. They closed at US$144.71, a jump of 113 per cent in the market debut. At those levels Airbnb is worth more than US$100 billion, including options and restricted shares, up from the bumped-up US$47 billion at the IPO price. That puts the 13-year-old company on par with major global firms such as IBM, 3M and American Express, for example. Airbnb raised some US$3.4 billion in the offering amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by t...
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Up to 1 billion people in Asia to face lethal heatwave conditions by 2050 due to climate change: Report
20Dec By Desk TeamNo Comments
Asia, China, Singapore, World

Up to 1 billion people in Asia to face lethal heatwave conditions by 2050 due to climate change: Report

BANGKOK: Up to 1 billion people in Asia could live in areas experiencing lethal heatwaves by 2050 as a result of worsening climate change, according to a new report by consulting firm McKinsey Global Institute (MGI). The modelling in the report outlines that severe heat is just one of the major risks forecast for the continent under RCP8.5, a worst-case scenario situation that could result without collective action to reduce carbon emissions. Without vastly improved action to reach the goals of the Paris Agreement, Asia is expected to see temperature rises of more than two degrees from pre-industrial levels. While much of the risk lies in subcontinental Asian countries such as India, Bangladesh and Pakistan, Southeast Asia would also face more frequent, dangerous heat conditions, ...
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‘Finding the Heart Sutra’: Alex Kerr finds humor at the heart of wisdom and enlightenment
20Dec By Desk TeamNo Comments
World

‘Finding the Heart Sutra’: Alex Kerr finds humor at the heart of wisdom and enlightenment

On the list of things you can do to spark joy (to use a phrase that has infiltrated the zeitgeist), few people would think to include writing a book. From conception to writing and revisions, right through to publication, when the final product ends up on a shelf (virtual or real), it’s a lengthy and often lonely journey that’s riddled with a full spectrum of emotions. A way to spark frustration, more like. Finding the Heart Sutra, by Alex Kerr 304 pages ALLEN LANE But against those odds, author Alex Kerr thoroughly enjoyed the process of writing his new book, “Finding the Heart Sutra.” That’s probably because the book is dedicated to exploring an age-old Buddhist sutra that muses on wisdom and enlightenment, and it’s been a project in progress for the better part of 40 years. “I h...
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Chinese launch covert cyber-attacks on India: Report
20Dec mmBy Mike TrudellNo Comments
China, World

Chinese launch covert cyber-attacks on India: Report

A cybersecurity think tank has claimed that Chinese hackers from Guangdong and Henan provinces targeted online shoppers during the festive months of October and November, the peak sale season in India.According to CyberPeace Foundation, these hackers created fake URLs disguised as offers by Flipkart and Amazon and lured the netizens to click on them with bogus prizes. These links were disseminated through WhatsApp targeting many online shoppers in India.“The modus operandi of the hackers involved imitating the actual sale campaigns of e-commerce such as Flipkart and Amazon to make them look more credible,” the foundation in its report said.The report said that although the festive season sale was a success for Indian e-commerce companies, the opportunity was used by hackers to target milli...
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US Prez signs bill that could remove Chinese stocks from US markets
20Dec mmBy Mike TrudellNo Comments
China, Market, World

US Prez signs bill that could remove Chinese stocks from US markets

United States President Donald Trump has signed a legislation with a potential to kick Chinese companies off of U.S. exchanges unless American regulators can review their financial audits.The measure, which could affect corporate giants like Alibaba Group Holding Ltd. and Baidu Inc., is yet another parting shot at China before Trump leaves office in January.The de-listing law won bipartisan support in the House early this month after clearing the U.S. Senate in May. While it applies to any foreign company, the bill’s sponsors have said their goal was to target China.For years, Chinese firms have used American capital markets and dollar-based finance as a key funding component to grow their businesses. While the measure includes a phase-in period, with penalties kicking in after three strai...
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Police beacon prototypes on trial to enhance SPF operations in secluded areas
19Dec By Desk TeamNo Comments
Singapore, World

Police beacon prototypes on trial to enhance SPF operations in secluded areas

SINGAPORE: Authorities are rolling out trials for new standalone devices that allow people to contact the police remotely. Known as police beacons, two prototypes will go on trial for a year from this month, the Singapore Police Force (SPF) and Home Team Science and Technology Agency (HTX) said in a joint news release on Friday (Dec 11). The prototypes will be deployed at the Punggol Waterway Park Connector and the Sengkang Riverside Park Connector. “The police beacon aims to enhance police presence, increase accessibility to emergency services and improve police response to those in need of police assistance in locations that are quieter and more secluded,” SPF and HTX said. The new police beacon is being trialled at Punggol Waterway Park Connector and Sengkang Riverside Park Conn...
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Op-ed: Retirees need to make these financial moves before Dec. 31
19Dec By Desk TeamNo Comments
Market, World

Op-ed: Retirees need to make these financial moves before Dec. 31

Back in March, a couple who had recently sold their business called me to express concerns about their decision to sell and retire. With Covid-19 raging, the stock market quickly dropped in value and their retirement savings were in decline. They asked a straightforward question: Did they need to worry or worse, consider going back to work? To address their concerns, we conducted a financial "stress test." It's a simulation of scenarios to evaluate if their financial plan and investments could withstand the chaos in the stock market. Even though their investments had declined more than 10%, the test assured them their portfolio was well positioned to withstand further volatility. With this information in hand, the couple quickly dropped any thought of returning to work. While the impact...
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Singapore revises growth outlook again as Q3 GDP shrinks at slower 5.8% amid COVID-19
18Dec By Desk TeamNo Comments
Asia, China, Market, Singapore, World

Singapore revises growth outlook again as Q3 GDP shrinks at slower 5.8% amid COVID-19

SINGAPORE: The Singapore economy is expected to shrink between 6 per cent and 6.5 per cent this year, said the Ministry of Trade and Industry (MTI) on Monday (Nov 23) in another revision to its 2020 outlook after growth data confirmed a smaller-than-expected contraction in the third quarter. Its previous estimate, announced in August, was for the economy to contract between 5 per cent and 7 per cent amid the blow from the COVID-19 pandemic. Policymakers also offered for the first time a glimpse of their economic forecast for 2021 – a recovery into positive growth territory, with the economy envisaged to expand between 4 per cent and 6 per cent next year partly on the back of a low base. For the third quarter, Singapore’s gross domestic product (GDP) contracted by 5.8 per cent on a y...
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