Revised framework for single family offices to take effect June 15
The Edge Singapore - The Monetary Authority of Singapore (MAS) has announced that the revised framework for single family offices (SFOs) will take effect on June 15. The revised framework provides a simple, streamlined process for SFOs to establish operations in Singapore, whilst enhancing overall monitoring of SFOs. Th ...
Mag 7? MANGOS? SpaceX forces name rethink on Wall Street's tech-stock moniker
June 13 : SpaceX roared into markets this past week with a valuation of more than $2 trillion, surpassing two members of Wall Street's "Magnificent Seven" and raising a key question: Does the Mag 7 name still fit? And if not, what should replace it?The IPO, the biggest in U.S. history ...
Citi launches tokenised depositary receipts to connect private markets and investors
The Editor - Citi has launched digital depositary receipts on private shares. The new model, using blockchain infrastructure operated by SIX, now offers issuers flexible capital while providing investors with direct and transparent access to company equity, says the bank in a June 11 (US time) release. Citi’s ...
Traders are most positive on US dollar since February 2025
Hedge funds, asset managers and other speculators accumulate US$27.8 billion worth of bets that it will strengthen
Retail investors build big dreams on small slices of SpaceX
NEW YORK, June 12 : Individual investors eager for a piece of SpaceX's mega IPO on Friday scrutinized their e-mail inboxes and brokerage accounts to see just how big a slice of the pie they received - while others went straight to the open market to scoop them up on day one.From the start, Spac ...
Oil: Brent falls to lowest since March on expected peace deal
Brent futures settle at US$87.33 a barrel
US: Wall Street ends higher as SpaceX’s market debut dominates
The space stock closes 19.2% higher at US$160.95, well above the IPO price of US$135 apiece
US blocks foreign access to Anthropic's most advanced AI models, Axios reports
June 12 : The Trump administration is blocking foreign governments, companies and individuals from accessing Anthropic's most advanced AI models, Axios reported on Friday.Reuters could not immediately verify the report.U.S. Commerce Secretary Howard Lutnick on Friday sent a letter to Anthropic ...
Anthropic disables most advanced AI models after US order limiting foreign access
Anthropic said it received a government directive banning all foreign nationals, even those working at Anthropic, from accessing Fable 5 and Mythos 5 over national security concerns.
Pivoting to US stocks that are the biggest beneficiaries of the current phase of AI revolution
Tong Kooi Ong + Asia Analytica - Absolute Returns Portfolio — SELLSIn the Absolute Returns Portfolio, we disposed of ChinaAMC Hang Seng Biotech ETF, Kanzhun, and Ping An (both A and H shares), paring our China exposure down to two names: Alibaba and Sun Hung Kai Properties. Both offer targeted exposure to themes we continue to fi ...
To the stratosphere: The SpaceX IPO
Tong Kooi Ong + Asia Analytica - When it comes to SpaceX, much of the public’s attention has been captured by the company’s interplanetary ambitions. Ahead of its June 12 initial public offering (IPO), the company’s prospectus offered investors sweeping promises of “extending the light of consciousness to the stars” and s ...
Investing where the economics take us: Today, it is America
Tong Kooi Ong + Asia Analytica - Over the past few weeks, we have explored what we believe are two dominant models of capitalism in the world today. America’s market-driven system excels at monetising innovation. Deep capital markets, strong shareholder protection, intellectual property rights and winner-takes-most economics allo ...
Shares of SpaceX end first day at US$160.95, up 19% from IPO price
They opened at US$150, 11% above US$135 offering price
OpenAI under investigation by group of state attorneys general, source says
June 12 : A coalition of U.S. state attorneys general has opened a sweeping investigation into OpenAI, a source familiar with the matter said on Friday.The ChatGPT maker was served on Friday with a subpoena seeking documents related to a wide range of its activities and the impact on users, includin ...
OpenAI under investigation by coalition of state attorneys general, WSJ reports
June 12 : A coalition of U.S. state attorneys general has opened an investigation into OpenAI, the Wall Street Journal reported on Friday, citing people familiar with the matter.The AI company was served on Friday with a sweeping subpoena seeking documents related to a wide range of its activities a ...
Alternative diesel can help Singapore balance resilience and decarbonisation
Biodiesel blending can provide an additional fuel pathway in times of disruption
Zuckerberg says Meta made 'mistakes' in AI workforce shift
June 12 : Meta CEO Mark Zuckerberg has told employees that the social media giant has made mistakes in its AI transformation of its workforce, according to an internal memo seen by Reuters. Zuckerberg is pumping hundreds of billions of dollars into AI as he seeks to reshape his company's inner ...
Meta's Zuckerberg admits 'mistakes' made on AI transformation
June 12 : Meta CEO Mark Zuckerberg has said that the social media giant has made mistakes on its AI transformation, in an internal memo seen by Reuters. In the memo, Zuckerberg describes the rapid advances in AI and the challenges bought on by the boom in the technology, as well as how it has affect ...
Japanese investors sought more than $6.2 billion worth of SpaceX shares at IPO, sources say
TOKYO, June 13 : Japanese investors were willing to subscribe to more than 1 trillion yen ($6.2 billion) of shares in SpaceX's record-breaking IPO, two sources familiar with the offering said.The majority of the demand came from retail investors, added the sources, who declined to be identified ...
Roku is exploring strategic options, including a sale of the company, sources say
June 12 : Roku Inc is exploring its strategic options, including a full sale of the company, according to six people familiar with the matter, amid interest from companies seeking access to its vast streaming audience and advertising platform.The company, whose shares jumped 22 per cent, has held di ...
Roku said to be in sale talks, including likely media tie-up, Bloomberg News reports
June 12 : Streaming platform Roku is in talks to sell itself, including a possible media tie-up, Bloomberg News reported on Friday, citing people familiar with the matter. The company, whose shares jumped 22 per cent, has been in discussion with at least one U.S. media company about a potential comb ...
Microsoft has considered spinning off Xbox, the Information reports
June 12 : Microsoft is considering options for its Xbox gaming unit, including a potential spinoff or restructuring as a wholly owned subsidiary, the Information reported on Friday, citing three people with direct knowledge of the discussions.The Windows maker is also weighing options such as creati ...
Space stocks slump as blistering rally cools after SpaceX market debut
June 12 : U.S. space stocks tumbled on Friday as investors rushed to lock in gains on the day of SpaceX's market debut, snapping a months-long rally fueled by anticipation over the blockbuster IPO.The Elon Musk-led company jumped 28 per cent, clinching a valuation of over $2 trillion as both in ...
World Cup fans caught up in SpaceX IPO spectacle in New York
NEW YORK, June 12 : Soccer fans expecting little more than selfies and street noise in Times Square instead found themselves swept into another global spectacle on Friday, the blockbuster stock market debut of Elon Musk’s SpaceX.Clusters of supporters in national colours, in town for World Cup mat ...
Google to challenge German ruling saying it is liable for AI-generated false claims
BRUSSELS, June 12 : Alphabet's Google will appeal a German court ruling which said it is legally liable for false claims appearing in AI Overviews, the U.S. tech company said on Friday, in a case that will likely impact other artificial intelligence developers.The challenge came after a Munich ...
Brazil's Nubank says false message on liquidation resulted from operational error
SAO PAULO, June 12 : Brazilian digital lender Nubank said on Friday it was aware of an erroneous message sent to customers claiming the firm was liquidated by the country's central bank, adding the incident resulted from an "one-time operational error."In a statement, Nubank, which is ...
Man jailed in UK for encouraging US suicide via Discord chat platform
LONDON, June 12 : A British man was jailed on Friday for encouraging the suicide of a vulnerable 21-year-old man in the United States during an online video call in which the victim was urged to shoot himself, prosecutors said.Dylan Phelan, 21, admitted encouraging Travis Dyer to take his own life i ...
Lost Gulf oil exports far smaller than thought, traders and shippers say
LONDON, June 12 : Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled to put a figure on lost crude supply and to predict the price of oil.Initial calculations were simple: add up all non-Iranian Gulf crude oil expo ...
Analysis:Gold's record rally falters as bulls run into Fed rate expectations, stronger dollar
LONDON, June 12 : Expectations for U.S. monetary tightening and a strong dollar have taken some wind out of the "perfect storm" powering an upswing in gold since 2023, leaving prices in vulnerable territory around $4,000 per ounce as the interest rate backdrop unfolds. Gold's reversal ...
Zimbabwe moves to regulate cryptocurrency sector
HARARE, June 12 : Zimbabwe's government said on Friday it will require cryptocurrency businesses to register and pay annual fees, as it seeks to bring the largely informal market under regulatory oversight. Businesses involved in buying, selling, transferring or safeguarding virtual assets must ...
SpaceX set to surge past US$2 trillion valuation in blockbuster Nasdaq debut
SPACEX was on course to blow past US$2 trillion in market valuation in its Nasdaq debut on Friday, reflecting the frenzy for the...
Meta's social networks recover after brief outage
June 12 : Meta's social media platforms are recovering after a brief outage that affected thousands of users on Friday, according to outage tracking website Downdetector.com.A company spokesperson said earlier in the day that Meta was working to fix the issue. The outage started around 9:20 a.m ...
Meta's social networks down for thousands of users
June 12 : Facebook-parent Meta said on Friday that users were having trouble accessing the social media company's services."We're aware people are currently having trouble accessing our services. We're working on it," the company's spokesperson Andy Stone said in a post ...
Fed watch, Anthropic-OpenAI price war, SpaceX IPO, World Cup
Goola Warden - Three global events are coalescing in the week of June 15-19 that are likely to impact the local market. The World Cup and the first week’s performance of Space Exploration Technologies Corporation (SpaceX) are coalescing with the first Federal Open Market Committee (FOMC) meeting presided over by ...
