Business

Singapore’s DayOne is weighing a delay or smaller US IPO after a data-centre rout, potentially raising US$2.5–3 billion instead of up to US$5 billion; no final decision has been made.

Asian stocks rose on Oct 21, led by Korea and Japan, after Wall Street gains and strong early corporate earnings bolstered investor confidence.

A power struggle at Tata Group pits founding trusts against managers and government over whether Tata Sons should list, testing who controls India’s largest conglomerate.

Brazil halted all poultry exports to China and Malaysia after confirming Newcastle disease at a turkey farm, prompting Mexico to suspend imports and other countries to impose regional restrictions.

NextDC shares fell 44% after it cut forecasts, citing power upgrade delays at its Melbourne M3 site that deferred about A$140 million in contracted revenue; it paused new projects and land buys.

Australia’s RBA deputy governor says the inflation outlook has worsened, partly due to higher oil prices, leaving him unsure whether the central bank will raise rates in November.

Elon Musk backs a SpaceX-Tesla merger after SpaceX reports a net profit, according to Channel NewsAsia.

South-east Asia’s digital economy is forecast to reach US$368b GMV in 2026 and US$1.1t by 2035, driven by e-commerce and AI; Singapore leads GenAI adoption.

Google Cloud services in the UK are largely restored after an outage, and Revolut's services are back up in Singapore.

The AI boom's use of off-balance-sheet debt—exemplified by Meta's $27b Hyperion data centre—poses growing financial risks and echoes a hard lesson from the 2008 crisis.

Ryanair CEO Michael O’Leary warns European airfares could rise up to 20% in 2027—the largest increase in history—as Middle East war drives fuel costs, squeezing airline margins.

Brent held near a five-month high below $110 as traders weighed Iran’s Strait of Hormuz threats against strong Gulf crude flows, with attacks keeping geopolitical risk elevated.