Business

Oil fell as Trump ruled out attacking Iran before November elections, easing supply fears. Brent and WTI slipped, though shipping attacks and Hurricane Isaias still disrupted supplies.

WTO raised 2026 goods trade growth forecast to 3.9%, as AI semiconductor and data-centre demand offset Middle East disruption, though services outlook was cut.

Amazon cut under 1,000 white-collar retail roles, mainly in its stores unit, during Prime Big Deal Days. Jeff Bezos says continued layoffs are necessary after pandemic overhiring.

Attacks on tankers in the Strait of Hormuz reached their highest weekly level since the Iran war began, with at least 12 incidents from Sep 28 to Oct 5, threatening Gulf oil exports.

Singapore will use its 2027 Asean chairmanship to deepen regional ties and connect with Latin America, Africa and the Middle East, PM Lawrence Wong said.

Crystal Jade closed four Singapore outlets and cut 120 jobs in restructuring ahead of a proposed sale, leaving nine outlets and 210 staff; receivers expect no further closures.

Goodman faces Japanese backlash over its Tsukuba data centre after scrapping a Sydney project. Residents near the site complain of poor consultation and consider protests.

IOI Properties and CapitaLand Investment entered exclusive due diligence for a 50-50 joint bid to acquire One Raffles Place from OUE Reit and UOB, advancing IOI's Singapore expansion.

Four Malaysian chip designers joined Japan's Rapidus design ecosystem, gaining potential IP and design work, though no firm orders yet; Singapore's Quest Global also joined.

Chan Yeng Kit becomes SPH Media's executive chairman, seeking continuity and stability while hoping to give up executive roles within two to three years.

DeepSeek partnered with Huawei to develop programming tools for Huawei's Ascend chips, open-sourcing infrastructure and reducing reliance on Nvidia's ecosystem.

Gold steadied Wednesday but heads for a monthly loss as rate-hike expectations weigh, with investors awaiting US inflation data for Fed clues.