Headlines

Bus operator SBS Transit, national carrier Singapore Airlines (SIA) and port operator PSA are among 19 key entities in the transport sector that will be subject to greater regulatory scrutiny under a law that came into force on April 1, the Straits Times reported. The Transport Sector (Critical Firms) Act gives the Government more control over key Singapore companies in the air, land and sea transport sectors to guard against adverse influences and major interruptions in essential transport services.

China has taken steps to restrict local companies from investing in the U.S. in a move that could give Beijing more leverage for potential trade negotiations with the Trump administration, Bloomberg News reported. Several branches of China’s top economic planning agency, the National Development and Reform Commission, have been instructed in recent weeks to hold off on registration and approval for firms that are looking to invest in the US, the people said, asking not to be identified discussing sensitive issues.

Italy's Prime Minister Giorgia Meloni and its top business lobby warned on Wednesday that looming U.S. tariffs would have a major impact on the country's exports and already struggling economy, Reuters reported. "It is clear that the introduction of new tariffs would have heavy repercussions for Italian producers", Meloni said while hosting a prize-giving ceremony for Italian cuisine in Rome. Meloni added that she did not rule out "adequate responses" to protect the exports of the euro zone's third largest economy, though she did not elaborate.

U.S. President Donald Trump's planned tariffs will be negative across the world, with the damage depending on how far they go, how long they last and whether they lead to successful negotiations, European Central Bank head Christine Lagarde said on Wednesday, Reuters reported. The Trump administration on Wednesday is set to announce "reciprocal tariffs" targeting nations that have duties on U.S. goods. That move would come after it slapped new import levies on products from Mexico, China and Canada - the top U.S. trading partners - as well as on goods including steel and autos.

The French government is preparing to lower its growth forecast for this year, said work minister Astrid Panosyan-Bouvet on Wednesday, EuroNews.com reported. "We're more likely to be looking at 0.7%, which is the Bank of France's growth forecast," said the junior minister, interviewed by media channel France 2. That’s a revision from the state’s current prediction of 0.9%, used as a basis for France’s yearly finance bill. It also comes after economy minister Éric Lombard said on Tuesday that the government’s forecast would be lowered in the near future.

South Korea’s exports grew at a stronger-than-expected pace in March, showing signs of resilience as concerns about U.S. tariffs cast uncertainty over the outlook for trade, the Wall Street Journal reported. President Trump has set an April 2 deadline to unveil so-called reciprocal duties, which aim to equalize U.S. tariffs with those charged by other countries. That comes on top of plans Trump announced last week to impose a separate 25% tariff on cars and auto parts. As one of the top exporters of cars to the U.S., South Korea faces a major drag if the auto levy goes into effect.

Thames Water has appointed a former Pennon Group PLC and Anglian Water executive as its new finance boss after the previous chief quit abruptly last week, MorningStar.co.uk reported. Steve Buck will join next week at a "pivotal" moment for the heavily indebted water group as it searches for a buyer to help stabilise its finances. Buck was formerly the CFO at Pennon, which owns South West Water, and at Anglian Water. He has also held a number of senior finance roles at British Gas owner Centrica PLC, and previously worked for Thames Water between 2002 and 2007.

The U.K. government has been told by a select committee that they must take a tough approach to clawing back taxpayers' money loaned to rugby union teams during the covid-19 pandemic, Worcester News reported. The Department for Digital, Culture, Media and Sport (DCMS) loaned £474million in total to 120 organisations in the sport and culture sectors to help them survive the impact of the pandemic, with £123.8m of that loaned to Premiership Rugby clubs.

Russian President Vladimir Putin has authorised Armenian investment fund Balchug Capital to buy shares in nine major companies owned by Goldman Sachs' Russian subsidiary, a decree published on Wednesday showed, Reuters reported. Balchug Capital was given the green light to purchase Goldman Sachs' subsidiary in Russia in January, according to a separate decree, paving the way for the U.S. bank to withdraw from the Russian market and extract some capital stranded there.

Government-controlled Banco de Brasilia (BRB) only agreed to acquire the healthiest and most strategically relevant assets from fellow lender Banco Master after months of negotiations, BRB CEO Paulo Henrique Costa said in a Tuesday interview, Reuters reported. The agreement, announced on Friday and subject to review by the central bank, is still under due diligence that could eventually bring down the negotiated price of 2 billion reais ($350 million), to be paid over up to six years, he added.