Investors and financial executives took a big sigh of relief on Saturday after major networks declared Democrat Joe Biden winner of the US presidential election, offering some certainty after days of conflicting reports about who might run the White House next term.

Although current President Donald Trump said he would fight the results in court, Wall Streeters who offered comments felt there was little doubt Mr Biden would ultimately succeed. Election predictors including the Associated Press, NBC, Fox News and Edison Research, upon which Reuters relies, called the presidency for Mr Biden.

Major US stock indexes registered their biggest weekly gains since April this week, as investors bet Mr Biden would win and Republicans would hold onto the Senate. That scenario would create a steadier hand in the Oval Office and a Congress that would check left-leaning impulses on taxes or regulations that pinch companies, investors said. US stock market swings look set to continue as investors embrace President-elect Joe Biden's victory, although many remain nervous about the balance of power in Washington and the ongoing spread of Covid-19.

Wilmar buys back 20 million shares, chairman increases stake.

Singapore Airlines' (SIA) net loss in the second quarter to September doubled that of the earlier three months, as it reported a record net loss of S$3.47 billion for the first half of FY2021. The national carrier reported a loss of S$1.12 billion for the first quarter to June. With H1 loss coming in at S$3.47 billion, it means SIA bled S$2.34 billion in the second quarter - twice the loss in Q1.

Singapore authorities have nudged data center players to stop building new ones on this land-scarce island, triggering a rise in short-term rental rates. A moratorium on constructing new data centers was "implicitly imposed" since early last year during a closed-door session with government agencies and industry players, The Business Times understands.

The US Federal Reserve kept its loose monetary policy intact on Thursday and pledged again to do whatever it can in the coming months to sustain a US economic recovery that's losing speed amid a spreading coronavirus pandemic and uncertainty over a still-undecided presidential election.

Warren Buffett's Berkshire Hathaway reported lower quarterly operating results on Saturday and said the coronavirus pandemic may cause further damage, even as gains in stocks such as Apple fuelled a more than US$30 billion overall profit.

Italy'ss government approved an extra pandemic relief package for businesses hit by the country's second lockdown. Prime Minister Giuseppe Conte's cabinet signed off early on Saturday on the new measures, which extend support to more companies compared to an earlier 5 billion-euro (S$8 billion) aid decree. Italy is expected to add 2.5 billion euros in spending with the new program, according to officials familiar with the discussions.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR