Singapore's exchange operator is pressing ahead with rules that aim to make executive pay at public companies more transparent while limiting independent directors' tenures in a bid to improve governance.
SGX RegCo, the regulatory arm of Singapore Exchange Ltd., announced the moves on Wednesday after the proposals-made in September-received broad support during public consultation, it said in a statement.
U.S., Allies Prepare Fresh Sanctions on Russian Oil Industry
WASHINGTON-The U.S. and its allies are preparing their next round of sanctions on Russia's oil industry, aiming to cap the sales prices of Russian exports of refined petroleum products in a step some market watchers warn could squeeze global supply.
In meetings across Europe this week, Treasury officials are discussing the details of the coming sanctions on Russian oil products, which are set to go into effect on Feb. 5. The penalties will set two price limits on Russian refined products: one on high-value exports such as diesel and another on low-value ones such as fuel oil, according to people familiar with the plans.
Los Angeles at Greater Flood Risk Than Government Estimates, Study Shows
Heavy rain triggered widespread flooding and road closures across Los Angeles on Tuesday, as the state's latest storm pummeled Southern California. Officials issued flash-flood warnings across much of the county, as more than 6 inches of rain fell in under 24 hours in some areas before easing in the afternoon. The string of recent storms that has hit California since Christmas has caused flooding, power outages and 16 deaths statewide, according to the governor.
But the flood risk in Los Angeles is much greater than what the latest storm delivered, according to a study published in October. Hundreds of thousands of residents and billions of dollars in property are exposed to widespread flood risk in Los Angeles, a greater impact than federal flood zones suggest.
Justice Department Charges Alleged NYC New Year's Eve Attacker With Attempted Murder
The Justice Department on Tuesday charged a 19-year-old alleged Islamic extremist with federal crimes stemming from a New Year's Eve machete attack on three New York police officers, a case law-enforcement officials said underscores their challenge in preventing attacks by people acting alone.
Federal prosecutors charged Trevor Bickford with four counts of attempted murder of officers and employees of the U.S. government, saying he traveled to Manhattan from his family's home in Maine to attack police in an effort to achieve martyrdom.
Canada, U.S. Agree to Workaround on Border-Security Dispute
OTTAWA-The U.S. and Canada said Tuesday they have reached a partial resolution over a yearslong border-security dispute that has disrupted plans for business travelers and others who frequently cross the border.
Details were released on the margins of the North American Leaders' Summit in Mexico City. In a joint statement, the U.S. and Canada said the measures to be implemented would help clear a backlog of applications-peaking this past year at 330,000-related to the joint U.S.-Canada trusted traveler program called Nexus.
California Rep. Katie Porter Jumps Into Senate Race
California Rep. Katie Porter, a favorite of the progressive wing of the Democratic Party, said she would run for Senate in 2024, the first big name to enter what is expected to be a hotly contested race for the seat currently held by Democratic Sen. Dianne Feinstein, who hasn't said if she will seek another term.
Ms. Porter, 49 years old, is one of just a handful of progressive members who represent battleground districts. A law professor who had no previous electoral experience, Ms. Porter was one of seven California Democrats who flipped GOP-held districts in 2018, riding an anti-President Donald Trump wave that handed her party the House majority. She narrowly won reelection in 2022.
Russia Claims Success in Ukraine's Soledar, Its First Advance in Months
Russia claimed Wednesday its first significant success in Ukraine since July, seizing most of the eastern town of Soledar after weeks of heavy fighting led by the Wagner private military company.
Wagner's owner, Yevgeny Prigozhin, posted a photo of himself in what appeared to be Soledar, saying that, while the entire territory of the town is under his fighters' control, street battles with the encircled remainder of Ukrainian forces are continuing in the downtown area.
Uganda Declares End of Deadly Ebola Outbreak
KAMPALA, Uganda-Uganda's Ebola outbreak is over, the country's health ministry said Wednesday, capping a nearly four-month struggle to contain a rare strain of the highly contagious virus for which there are no proven vaccines or antiviral treatments.
Uganda's Health Ministry said 42 days had passed since the last known patient diagnosed with the Sudan strain of Ebola was discharged from a hospital, taking the country beyond twice the virus's maximum incubation period. Fifty-five people are confirmed to have died from the virus since September in the second-deadliest known Ebola outbreak in Uganda's history, while at least 142 were infected. The ministry said another 22 people are believed to have died from the virus as far back as early August, but were never tested.
Death Toll From California Storms Rises to 16, Governor Says
Evacuation orders for thousands of people across California were lifted on Tuesday following the latest in a series of storms that has killed 16 people in the rain-soaked state.
The storm moved toward Southern California this week after beginning on Sunday night around the San Francisco Bay Area, forecasters said. The northern part of the state has experienced the brunt of the four earlier storms, which have caused widespread power outages and floods since Christmas.
Brazil's Military Stopped Mob at Capital, Ignoring Calls to Stage a Coup
BRASÍLIA-As rioters calling for the ousting of Brazil's newly elected leftist president ransacked the capital Sunday, many Brazilians wondered whether the country's right-leaning military would step in and stop the violence.
By Sunday evening, they had their answer: Following the orders of President Luiz Inácio Lula da Silva, the army and military police had restored order in the city, despite having many vocal supporters of the right-wing former president, Jair Bolsonaro, in their ranks.
Write to ina.kreutz@wsj.com TODAY IN CANADA
Earnings:
Aritzia 3Q
Economic Indicators (ET):
Nothing major scheduled
Stocks to Watch:
Empire Life Announces C$200M Offering of 5.503% Subordinated Debentures
Rapid Dose Therapeutics Provides Update on Failure to File Cease Trade Order; Rapid Dose Therapeutics, Auditors Continuing to Work to Complete Audit; No Changes to Business Plans and Doesn't Expect Any Interruption of Ops; Anticipates It Will Have Completed Required Documents on or Before Jan 17
Teck 4Q Coal Sales Totaled 4.3M Tons vs. Guidance of 5.0M-5.4M Tons; Extreme Cold in Western Canada Hit Rail, Port Operations
West Fraser Timber: Will Indefinitely Curtail Perry Sawmill in Florida Later This Mo; Decision Is Result of High Fiber Costs and Softening Lumber Markets; Indefinite Curtailment of Perry Sawmill Will Impact Approximately 126 Employees and Reduce West Fraser's US Lumber Production by 100M Bd Feet; Expects to Mitigate Impact on Affected Employees by Providing Work Opportunities at Other West Fraser Ops; High Fiber Costs at Perry and Low-Price Commodity Environment Have Impaired Ability to Profitably Operate; Indefinite Curtailment of Perry Sawmill Better Aligns Production Capacity With Demand; Anticipates Taking Impairment Chg in 4Q22 Associated With the Indefinite Curtailment
Other News:
The U.S. and Canada said Tuesday they have reached a partial resolution over a yearslong border-security dispute that has disrupted plans for business travelers and others who frequently cross the border.
Read more here
Expected Major Events for Wednesday
02:00/JPN: Dec Imported Vehicle Sales
05:00/JPN: Nov Indexes of Business Conditions - Preliminary Release
09:00/ITA: Nov Retail Sales
12:00/US: 01/06 MBA Weekly Mortgage Applications Survey
15:00/US: Dec Online Help Wanted Index
15:30/US: 01/06 EIA Weekly Petroleum Status Report
23:50/JPN: Dec Bank Lending
23:50/JPN: Dec International Transactions in Securities
23:50/JPN: 3Q Revised Balance of Payments
23:50/JPN: Nov Balance of Payments
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Expected Earnings for Wednesday
Allied Healthcare (AHPI) is expected to report for 1Q.
Aritzia is expected to report $0.59 for 3Q.
Avalon Advanced Materials is expected to report for 1Q.
Caldwell Partners International Inc (CWL.T) is expected to report for 1Q.
Concrete Pumping Holdings Inc (BBCP) is expected to report $0.13 for 4Q.
IronNet Inc (IRNT) is expected to report for 3Q.
KB Home (KBH) is expected to report $2.87 for 4Q.
Lifecore Biomedical Inc (LFCR) is expected to report $-0.12 for 2Q.
Mullen Automotive Inc (MULN) is expected to report for 4Q.
Schmitt Industries (SMIT) is expected to report for 1Q.
Shaw Communications Inc - Class B (SJR,SJR.A.V,SJR.B.T) is expected to report $0.35 for 1Q.
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ANALYST RATINGS ACTIONS
Agilent Raised to Overweight From Equal-Weight by Wells Fargo
Albireo Pharma Cut to Neutral From Buy by HC Wainwright & Co.
Ally Financial Inc Cut to Hold From Buy by Jefferies
Altice USA Cut to Neutral From Buy by Goldman Sachs
Altus Power Raised to Overweight From Equal-Weight by Morgan Stanley
American Tower REIT Raised to Buy From Neutral by Goldman Sachs
AT&T Raised to Overweight From Equal-Weight by Wells Fargo
Azek Cut to Neutral From Buy by Citigroup
Bank of America Raised to Buy From Hold by Odeon Capital
Bio-Techne Raised to Equal-Weight From Underweight by Wells Fargo
(MORE TO FOLLOW) Dow Jones Newswires
01-11-23 0606ET
