Super Micro shares dip as AI server maker looks to raise $2 billion through equity sale
Super Micro Computer disclosed on Tuesday it will sell 2 million shares that could fetch about $2 billion, sending the artificial intelligence (AI) server maker's shares 9 per cent lower in trading before the bell.The San Jose-based company's shares have more than tripled since January, wh ...
Cryptoverse: AI tokens outpace record-breaking Bitcoin
THE artificial intelligence boom has hit the crypto market with a bang.
Yen falls in defiance of historic BOJ shift
THE Japanese yen tumbled on Tuesday (Mar 19) after the central bank made the momentous, but widely anticipated, decision to end its negative interest rate policy, while the US dollar rose ahead of the upcoming Federal Reserve decision on rates.
GoTo hits operational profit in Q4, plans share buyback
Claudia Chong - INDONESIA’S biggest tech company GoTo reached a profitability milestone in its fourth quarter ended Dec 31, 2023, after adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) turned positive at 77 billion rupiah (S$6.6 million).
China’s Ant Group appoints new president in biggest reshuffle since regulatory revamp
HAN Xinyi will become president of China’s Ant Group and some units of the financial technology company will set up their own boards of directors to operate more independently, according to a source who saw an internal email from Ant CEO and chairman Eric Jing on Tuesday (Mar 19).
Second Chance Properties expects H1 net profit to ‘decrease significantly’
Tan Nai Lun - MAINBOARD-LISTED company Second Chance Properties expects net profit for its first half ended Feb 29, 2024 to “decrease significantly” on year.
Novo Foundation, Nvidia team up to build Danish AI supercomputer
NOVO Nordisk Fonden, the enterprise foundation behind Novo Nordisk, will work with Nvidia to build a supercomputer in Denmark to help research and innovation in health care, life sciences and the green transition.
Daily Debrief: What Happened Today (Mar 19)
Stories you might have missed
All eyes on whether US Federal Reserve will make explicit promise to cut interest rates
Rob Curran - THE mood swings of the world’s financial markets could continue if there is any ambiguity in US Federal Reserve chairman Jerome Powell’s statements this week at the end of the central bank’s two-day policy meeting.
IPO-bound Reddit discloses patent infringement complaint from Nokia
:Reddit is evaluating a letter from Nokia Technologies alleging it infringed some of the telecom and cloud network firm's patents, the social media platform said on Tuesday, ahead of its high-profile initial public offering (IPO) later this week.The disclosure follows an inquiry by the Federal ...
Reddit evaluating Nokia's patent infringement blame
Reddit said on Tuesday it had received a letter from Nokia Technologies accusing the social media platform of patent infringement and was now evaluating the claim. Reddit is scheduled to go public this week in one of the most high-profile initial public offerings of recent years. It is targeting a v ...
Red-hot Nvidia dips after it unveils new AI chip
Nvidia shares dipped in premarket trading on Tuesday (Mar 19) after having more than tripled in value in the past year, as the dominant AI chip supplier unveiled its latest flagship product that is expected to further cement its lead in the industry. Shares of Wall Street's third most-valuable ...
BOJ joins a rate-hike party that other big central banks have left
LONDON : Global interest rates are in flux. The Bank of Japan, a holdout dove as central banks across the developed world raised borrowing costs from late 2021, finally called time on its easy money era on Tuesday.Most other big central banks, in contrast, are on the brink of victory in their fight ...
South Korea to provide $313 billion in loans to finance carbon offset projects
SEOUL : South Korea has vowed to provide 420 trillion won ($313.4 billion) in policy loans to finance projects to help reduce carbon emissions, a joint statement by the government and major banks said on Tuesday.By 2030, five state financial institutions including Korea Development Bank (KDB) will p ...
Xpeng forecast quarterly revenue below estimates
Chinese electric-vehicle maker Xpeng forecast first-quarter revenue below market expectations on Tuesday as a sluggish economy and stiff competition weighed on vehicle demand.The company expects first quarter revenue between 5.8 billion yuan ($805.67 million) and 6.2 billion yuan, compared with esti ...
US DOJ to target pre-IPO artificial intelligence frauds, top attorney says
NEW YORK : The U.S. Justice Department's top prosecutor in San Francisco is targeting artificial intelligence (AI) and other tech start-ups that defraud investors before they go public, he told Reuters. Ismail Ramsey, who became U.S. attorney for the Northern District of California a year ago, ...
Wilmar unit to make further investment in Pakistan-listed Unity Foods
Tan Nai Lun - A WHOLLY owned subsidiary of Wilmar International is intending to increase its stake in Pakistan-listed Unity Foods through a public offer.
Singapore shares flat on Tuesday as investors await Fed’s policy meeting
Tay Peck Gek - SINGAPORE shares were flat on Tuesday (Mar 19) in spite of overnight gains on Wall Street, as investors wait for the outcome of the US Federal Reserve’s policy meeting on Wednesday.
Singapore shares flat as investors await Fed’s policy meeting
Tay Peck Gek - SINGAPORE shares were flat on Tuesday (Mar 19) in spite of overnight gains on Wall Street, as investors wait for the outcome of the US Federal Reserve’s policy meeting on Wednesday.
Central banks use AI to assess climate-related risks
LONDON : Central bankers said on Tuesday they have broken new ground by using artificial intelligence to collect data for assessing climate-related financial risks, just as the volume of disclosures from banks and other companies is set to rise.The Bank for International Settlements, a forum for cen ...
Idemitsu raises stake in Fuji Oil, eyes holding 20%
TOKYO : Idemitsu Kosan, Japan's second-biggest oil refinery, said on Tuesday it will raise its stake in Fuji Oil to 13.04 per cent from 6.58 per cent by buying stake from Sumitomo Chemical and may raise its ownership to 20 per cent.The move is aimed at raising its competitiveness in the fuel se ...
Shares dip, yen slides as BOJ's landmark policy shift draws eyes
SINGAPORE/LONDON :Global shares dipped on Tuesday while the yen slid after the Bank of Japan met market expectations and ended eight years of negative interest rates, likely the highlight of a busy week for central banks. MSCI's world share index dropped 0.16 per cent, though was still around a ...
Easy does it: The Bank of Japan's experiment
THE Bank of Japan (BOJ) announced a seismic change in direction on Tuesday (Mar 19), hiking interest rates for the first time in 17 years.
Meta offers to cut Facebook, Instagram monthly fees to €5.99
BRUSSELS: Meta Platforms has offered to cut a monthly subscription fee for Facebook and Instagram to €5.99 from €9.99 following discussions with regulators, a senior Meta executive said on Tuesday. "We have wanted to accelerate that process for some time because we need to get to a steady ...
China’s Xiaomi posts 11% revenue rise on strong smartphone sales
CHINA’S Xiaomi reported a 10.9 per cent rise in fourth-quarter revenue and beat adjusted net profit estimates boosted by strong smartphone sales as the sector shows signs of recovery.
China’s Xiaomi Q4 2023 revenue rises 11%, beats estimates
CHINESE smartphone maker Xiaomi reported a 10.9 per cent rise in fourth-quarter revenue on Tuesday (Mar 19), boosted by strong smartphone sales in an industry showing signs of recovery.
Tencent Music beats quarterly revenue estimates
CHINA’S Tencent Music Entertainment Group beat fourth-quarter revenue estimates on Tuesday (Mar 19), driven by growth in paid subscription on its Spotify-like music streaming platform.
Wall Street bonuses decline slightly amid an influx of bankers
THE average Wall Street bonus dropped slightly last year as banks kept compensation reined in amid an ongoing deal slump and the number of employees working in the securities industry ticked up.
Wall Street bonuses fell 2% for 2023, New York Comptroller says
WALL Street’s cash bonuses fell 2 per cent to an average US$176,500 last year as financial firms took a more cautious approach to compensation, according to an estimate by New York State Comptroller Thomas DiNapoli.
Japanese business groups welcome BOJ's first rate hike in 17 years
TOKYO: The Bank of Japan has made "the appropriate policy decision at the appropriate time", the head of Japan's biggest business lobby said, welcoming Governor Kazuo Ueda's move to hike interest rate
Ben & Jerry's owner Unilever to spin off ice cream arm
LONDON: British consumer goods giant Unilever announced on Tuesday (Mar 19) that it will separate its ice cream unit, whose top-selling products include Ben & Jerry's and Magnum, as a standalone business. The company also unveiled a major overhaul which it said would "impact" arou ...
Swiss watch exports slump on lower shipments to China, Hong Kong
MONTHLY Swiss watch exports fell for just the second time in three years, led by lower shipments to China and Hong Kong, as demand for luxury timepieces cools.
Atos says Airbus ends discussions over BDS cybersecurity unit sale
ATOS on Tuesday (Mar 19) said Airbus had called off discussions about potentially buying the French software company’s BDS cybersecurity unit, sending its shares down by almost a fifth.
ShopBack cuts 195 employees in push for sustainability
Michelle Zhu - TEMASEK-BACKED cashback and rewards platform ShopBack has reduced its employee headcount by 24 per cent or 195 roles “to become more focused and self-sustainable as a company”.