World

Health-care stocks have been among the best performers since the market bottomed in March. The XLV health care ETF now sits less than 3% below its January record. Mark Tepper, president of Strategic Wealth Partners, is backing one of the stocks as the sector makes its way back to highs. "My favorite would be Bristol-Myers," Tepper told CNBC's "Trading Nation" on Wednesday. "Bristol Myers has lagged the health-care sector by about 6% this year. The reason I like it is it is a pure play on cancer -- let's not forget cancer is still the number one medical problem in the world." Tepper said a rebound in cancer screening and treatment as the coronavirus pandemic eases should benefit Bristol-Myers. The stock's fundamentals also appeal to Tepper. "The valuation is cheap. The stock is trading...

BEIJING: The Chinese Beidou navigation network will be complete this month when its final satellite goes into orbit, giving China greater independence from US-owned GPS and heating up competition in a sector long dominated by the United States. The idea to develop Beidou, or the Big Dipper in Chinese, took shape in the 1990s as the military sought to reduce reliance on the Global Positioning System (GPS) run by the US Air Force. When the first Beidou satellites were launched in 2000, coverage was limited to China. As use of mobile devices expanded, China in 2003 tried to join the Galileo satellite navigation project proposed by the European Union but later pulled out to focus on Beidou. In the age of the iPhone, the second generation of Beidou satellites went operational in 2012, co...

Sony Corp's image sensor business aims to replicate PlayStation's success to address its reliance on a handful of manufacturers in the fickle smartphone market: It plans to sell software by subscription for data-analysing sensors in situ. TOKYO: Sony Corp's image sensor business aims to replicate PlayStation's success to address its reliance on a handful of manufacturers in the fickle smartphone market: It plans to sell software by subscription for data-analysing sensors in situ. Transforming the light-converting chips into a platform for software - essentially akin to the PlayStation Plus video games service - amounts to a sea change for the US$10 billion business, which built its dominance through hardware breakthroughs. The effort chimes with Sony's pursuit of recurring revenue a...

JAKARTA: Indonesia plans to build one of its largest industrial parks on the north coast of Java island in a renewed drive to attract manufacturers relocating out of China as Southeast Asia's biggest economy comes out of a coronavirus-induced lockdown. Yet, despite its low wages and huge domestic market Indonesia must overcome decades-old hurdles including red tape, rigid labour laws, and poor infrastructure to be able to move up the global manufacturing value chain. This time, in its quest to emulate rivals such as Vietnam, the government has shown serious intent in bringing about change and is aiming to pass an ambitious 'omnibus' Bill later this year to address some of the pressing foreign investor concerns. At the same time it is pushing ahead with plans for a 4,000-hectare indu...

LONDON: Tottenham defender Ben Davies has urged his team-mates to make a fast start when they restart their Premier League campaign on Friday. Jose Mourinho's side face a vital showdown with Manchester United in north London in their first game since the coronavirus lockdown in March. Tottenham go into the game in eighth place, four points behind fifth-placed United and a further three adrift of fourth-placed Chelsea in the race to qualify for the Champions League. Tottenham were struggling before the pandemic, going six games without a win in all competitions and crashing out of the Champions League and FA Cup. But they will be boosted by the return from injury of Harry Kane, Son Heung-min and Moussa Sissoko, and Davies believes they can hit the ground running against United. "It...

As of Tuesday, 4.68 million homeowners were in forbearance plans, allowing them to delay their mortgage payments for at least three months. This represents 8.8% of all active mortgages, up from 8.7% last week. Together, they represent just over $1 trillion in unpaid principal. The number of active forbearance plans rose by 79,000 in the past week, erasing roughly half of the improvement seen since the peak of May 22, according to Black Knight, a mortgage data and technology firm. By comparison, the number of borrowers in forbearance plans fell by 57,000 the previous week. Increases happened every day for the past five business days. After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply once again. The mortga...

SINGAPORE: The Singapore Food Agency (SFA) on Monday (Jun 29) issued an advisory regarding ten varieties of winter melon products after samples were found to have high amounts of the allergen sulphur dioxide. Seven importers were directed to recall the products, many of which were imported from Malaysia. The products are as follows: All batches of Zheng Shi Ming candied melon strips (3kg) imported by Yuan Sang, manufactured on Jun 13, 2020 All batches of Sweet Homes preserved winter melon (250g) imported by Bake with Yen, manufactured on Apr 24, 2020 All batches of Winter Melon Sweet (300g) imported by Ah Pau Choy from Vietnam with expiry dates in October 2021 All batches of candied melon (300g) imported by Z T P Ginseng Birdnest from China, with best before dates before November ...