Singapore’s parliament has deemed Workers’ Party Secretary-General Pritam Singh “unsuitable” for his role as Leader of the Opposition following his conviction for lying to a parliamentary committee. After a three-hour debate on Wednesday, lawmakers approved a motion that considers Singh, who is leader of Singapore’s largest opposition party, no longer suitable to continue in his post after a lying...
Singapore’s parliament has deemed Workers’ Party Secretary-General Pritam Singh “unsuitable” for his role as Leader of the Opposition following his conviction for lying to a parliamentary committee. After a three-hour debate on Wednesday, lawmakers approved a motion that considers Singh, who is leader of Singapore’s largest opposition party, no longer suitable to continue in his post after a lying scandal involving a former lawmaker. Eleven members of parliament from WP including Singh dissented. The decision on whether Singh will retain the role now lies with Prime Minister Lawrence Wong . The Prime Minister’s Office did not immediately respond to a request for comment. “The House is not being asked to impose any penalties or sanctions on Mr Singh,” said Leader of the House Indranee Rajah in her parliamentary speech on the motion. “What is being asked is for this House to express a view of his conduct.” “My conscience remains clear as it will forever,” said Singh during the debate. “To that end, the law has run its course, and I accept and respect that.” Singh was named Leader of the Opposition after his party made unprecedented gains in the 2020 election by grabbing 10 seats. He retained his seat in the 2025 election where his party won nearly 60% of the votes in his constituency, after he was convicted and fined at amounts that were below the threshold that would have barred him from Parliament for five years. Read: Singapore to Mull Opposition Chief’s Role After Lying Conviction The approved motion also acknowledges that the court’s judgment and a parliamentary committee’s findings in Singh’s case will have “implications” for two other WP members - chairperson Sylvia Lim and vice-chair Faisal Manap. Both Lim and Faisal — alongside Singh — were found to have lied under oath in 2021 to a parliament committee investigating a former lawmaker from the WP who lied in parliament about a sexual assault case. Only Singh’s case was referred to the Public Prosecutor then. ...
The Toyota group sweetened a bid to privatize a key unit on the eve of its tender period, but that’s unlikely to placate investors who say the new price still undervalues the company. Bending to pressure from a vocal contingent of minority shareholders in Toyota Industries Corp. , the parent group backtracked on previous statements about standing firm and raised its ante to ¥18,800 per share ($118...
The Toyota group sweetened a bid to privatize a key unit on the eve of its tender period, but that’s unlikely to placate investors who say the new price still undervalues the company. Bending to pressure from a vocal contingent of minority shareholders in Toyota Industries Corp. , the parent group backtracked on previous statements about standing firm and raised its ante to ¥18,800 per share ($118.56), a 15% increase. Far from easing the path to a deal, the concession may embolden investors to demand an ever-higher premium in line with their lofty valuations. Hugh Sloane of UK-based fund Sloane Robinson, which owns stock in Toyota Industries, argues the company is worth at least ¥25,000 per share. With global activists, including Elliott Investment Management, having openly challenged the offer, the outcome could shape future buyouts across corporate Japan. “Toyota is trying to acquire Toyota Industries on the cheap,” Sloane said. “This will encourage activists to press the trade.” The higher proposal came after the end of regular trading Wednesday in Tokyo, when the stock had closed at ¥18,025 — well above the initially proposed price of ¥16,300, indicating that investors had anticipated a higher offer. The tender offer begins Thursday and will run through Feb. 12. If completed, the company, which makes textile looms and forklifts, will fall under the control of an unlisted real estate company called Toyota Fudosan Co., which is chaired by Akio Toyoda , who also leads the board of Toyota Motor Corp. and is the grandson of the carmaker’s founder. The offering had been scheduled to start in December, but was postponed until at least February after the approval process was delayed by antitrust regulators in various countries. When the Toyota group announced its take-private bid last June, its offer translated into a transaction valued at around ¥4.7 trillion, an 11% discount to its market capitalization. Critics immediately demanded more transparency into a deal that ...
This week, SpaceX CEO Elon Musk and Secretary of Defense Pete Hegseth touted their desire to “make Star Trek real”—while unconsciously reminding us of what the utopian science fiction franchise is fundamentally about. Their Tuesday event was the latest in Hegseth’s ongoing “Arsenal of Freedom” tour, which was held at SpaceX headquarters in Starbase, Texas. (Itself a newly created town that takes i...
This week, SpaceX CEO Elon Musk and Secretary of Defense Pete Hegseth touted their desire to “make Star Trek real”—while unconsciously reminding us of what the utopian science fiction franchise is fundamentally about. Their Tuesday event was the latest in Hegseth’s ongoing “Arsenal of Freedom” tour, which was held at SpaceX headquarters in Starbase, Texas. (Itself a newly created town that takes its name from a term popularized by Star Trek .) Neither Musk nor Hegseth seemed to recall that the “Arsenal of Freedom” phrase—at least in the context of Star Trek —is also the title of a 1988 episode of Star Trek: The Next Generation. That episode depicts an AI-powered weapons system, and its automated salesman, which destroys an entire civilization and eventually threatens the crew of the USS Enterprise . (Some Trekkies made the connection, however.) Read full article Comments
watch now VIDEO 2:31 02:31 Bank earnings numbers were actually good, says Jim Cramer Mad Money with Jim Cramer CNBC's Jim Cramer on Wednesday parsed earnings results from JPMorgan Chase , Wells Fargo , Bank of America , Citigroup , which saw losses during the session. He said the numbers were solid, but investors had high expectations and were put off by cautious commentary from management. "After...
watch now VIDEO 2:31 02:31 Bank earnings numbers were actually good, says Jim Cramer Mad Money with Jim Cramer CNBC's Jim Cramer on Wednesday parsed earnings results from JPMorgan Chase , Wells Fargo , Bank of America , Citigroup , which saw losses during the session. He said the numbers were solid, but investors had high expectations and were put off by cautious commentary from management. "After looking at the numbers, my verdict is that these stocks can keep working this year as long as the economy doesn't deteriorate from here," he said. "But they are taking a breather after coming in way too hot." Cramer said he's not overly worried about these losses because many of the major banks have had huge runs, so "they were due for a pullback." By close, JPMorgan shed 0.97%, Wells Fargo was down 4.61%, Bank of America lost 3.78% and Citigroup declined 3.34%. Here's Cramer's analysis of five top banks that reported this week: JPMorgan Chase : While JPMorgan managed to beat expectations for earnings and revenue, its investment banking segment came in light. Cramer said the sector was brought down by weakness in both debt and equity underwriting. CEO Jamie Dimon's commentary about serious geopolitical risk and the U.S.'s ballooning budget deficit might have also contributed to the stock's decline, Cramer added. Wells Fargo : Wells Fargo missed on the top and bottom lines, and Cramer attributed a large part of the earnings shortfall to the bank's higher severance expenses as it laid off workers to cut costs. Cramer said he thinks business is going well, but not as well as Wall Street was hoping. He stressed that Wells Fargo just escaped its government-mandated asset cap and is now able to grow more aggressively in certain areas. He said he believes in the stock for the long term, but conceded that it could weather more losses. Bank of America : Cramer said Bank of America posted a solid quarter, noting that it had a small top and bottom line beat. He was also encouraged by...