30 minutes ago
Microsoft’s Xbox plans significant layoffs as it transforms under new CEO
The layoffs are expected shortly after the close of the company’s fiscal year on Jun 30, according to sources
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
44 minutes ago
South Korea presses EU for fair treatment on new steel import duties
SEOUL, June 11 : South Korean President Lee Jae Myung asked the European Union to give Korean steel makers "favorable consideration" as the bloc gets set to raise import tariffs on July 1, his office said on Thursday. Lee made the request during a summit with European Council President Ant ...
46 minutes ago
Deloitte’s Lee Boon Teck, new Isca chief, urges accountants to be fluent in accounting and tech
Renald Yeo - He tells BT that he will also use his term to help accountants new and experienced to build career resilience
46 minutes ago
Tech stocks could surpass S-Reits on iEdge Singapore Next 50 index if growth momentum keeps up: SGX
Deon Loke - The growth in technology’s footprint is happening at the expense of defensive, income-oriented segments
46 minutes ago
Software sell-off: Singapore’s private wealth gets more discerning on AI-era technology exposure
Jean Low - Family offices and allocators are pivoting away from generic softwares towards deep data moats and structural resilience
60 minutes ago
ASML to cut fewer jobs than planned after union negotiations
Staff will be told if their roles are affected next month
1 hour ago
US charges suspected Russian hacker with facilitating cyber campaign
BOSTON, June 10 : A suspected Russian hacker is now in U.S. custody following his arrest in Thailand last year and has been charged with facilitating a campaign of cyberattacks carried out by a Russia-aligned group that victimized numerous U.S. companies.Denis Obrezko, 36, made his initial appearanc ...
2 hours ago
Oil settles up nearly US$2 after Trump threatens to hit Iran ‘very hard’
Iran has continued to block most shipping through the strait
2 hours ago
Commentary: Indonesia hits the panic button over the rupiah
Restoring calm to the country's financial markets will require a more definitive step, say Daniel Moss and Karishma Vaswani for Bloomberg Opinion.
2 hours ago
Wall Street indexes fall more than 1%, hit by tech, Iran war worries
The US Federal Reserve is widely expected to hold interest rates steady at its June policy meeting
2 hours ago
Microsoft's Xbox plans for major layoffs next month, Bloomberg News reports
June 10 : Microsoft's Xbox division is planning major layoffs next month and significant cuts to marketing and other budgets, Bloomberg News reported on Wednesday. The job cuts would mark the first major restructuring under Asha Sharma, who took charge as CEO of the gaming unit in February.Micr ...
2 hours ago
European shares steady as investors weigh US-Iran flare-up
Sharp swings in AI stocks have sparked volatility across the US and Asia this week
4 hours ago
Oracle's AI spending blows past estimates, raising worries over growing debt
June 10 : Oracle on Wednesday forecast capital spending plans for fiscal 2027 above Wall Street estimates, as the cloud computing company said it will also raise more debt in 2027, reflecting the staggering scale of cash burn needed to build out its AI infrastructure.Its shares fell 8.9 per cent in ...
4 hours ago
Oracle beats fourth-quarter revenue estimates
June 10 : Oracle reported fourth-quarter revenue that narrowly beat Wall Street expectations on Wednesday, amid growing concerns about its spending and AI-driven disruption to traditional software demand.Shares of the company fell 2 per cent in extended trading, after it said it expects to raise nea ...
4 hours ago
Oracle's revenue narrowly beats amid worries over debt-fueled AI buildout
June 10 : Oracle's capital spending for 2026 exceeded its projection and the cloud computing company said on Wednesday it would raise more debt in 2027, reflecting the staggering scale of cash burn needed to buildout its AI infrastructure.Its shares fell 5 per cent in extended trading, after Or ...
4 hours ago
Oracle's AI spending for 2026 exceeds forecast, raising worries over growing debt
June 10 : Oracle's capital spending for 2026 exceeded its projection and the cloud computing company said on Wednesday it would raise more debt in 2027, reflecting the staggering scale of cash burn needed to build out its AI infrastructure.Its shares fell 5.8 per cent in extended trading, after ...
4 hours ago
Anthropic urges US not to block state AI laws without setting federal standards
WASHINGTON, June 10 : Anthropic called on the U.S. Congress on Wednesday not to block state AI regulations unless lawmakers pass a "rigorous" federal law that addresses "catastrophic AI risks," according to a company statement, as part of a broader proposal to set rules on the te ...
4 hours ago
Anthropic urges US to require safety tests for most capable AI models
WASHINGTON, June 10 : Anthropic called on the U.S. Congress on Wednesday not to block state laws regulating AI unless it enacts a "rigorous" federal law that addresses "catastrophic AI risks," according to a company statement.The company also urged Congress to require AI companie ...
5 hours ago
Exclusive-GM may ditch LFP batteries for future EVs
SAN FRANCISCO, June 10 : General Motors may scrap plans to use a lower-cost, iron-based battery chemistry that many automakers are using to cut electric-vehicle costs, GM's head of battery technology said. The Detroit automaker had said it planned to develop lithium-iron phosphate, or LFP, batt ...
5 hours ago
Oracle awarded US contract to provide government-wide HR software
WASHINGTON, June 10 : President Donald Trump's administration has awarded Oracle a contract to provide a U.S. government-wide HR platform, according to a statement, making the company a partner in its effort to overhaul federal technology systems. Oracle will provide a cloud-based HR platform t ...
5 hours ago
Oracle awarded US government contract to provide government-wide HR software
WASHINGTON, June 10 : Oracle won a contract to provide an HR platform for agencies across the U.S. government, according to a Trump administration statement.Oracle will provide a cloud-based HR platform to replace agencies' individual systems, said Office of Personnel Management Director Scott ...
6 hours ago
Tesla gets go-ahead to sell self-driving technology in Belgium
BRUSSELS, June 10 : Tesla Full Self-Driving supervised driver assistance software has been authorised in Belgium, Annick De Ridder, the transport minister of Flanders region said on Wednesday in a post on X."I just signed the approval," she said in a post on X featuring a picture of an off ...
6 hours ago
Most withdrawals from Ares private credit fund came from outside US, CEO says
NEW YORK, June 10 : Most of the requests to withdraw money from a private credit fund for the wealthy run by alternative asset manager Ares came from outside the United States, its CEO said on Wednesday."We had 11 per cent redemption requests. It was from less than 5 per cent of our investors. ...
6 hours ago
Microsoft limits employee use of Anthropic's Claude Fable 5 over data retention concerns, The Verge reports
June 10 : Microsoft is limiting employees' use of Anthropic's Claude Fable 5 because of the AI startup's new data retention requirements, The Verge reported on Wednesday, citing sources.Anthropic on Tuesday said it is rolling out Claude Fable 5, a public version of its Mythos AI model ...
6 hours ago
AI boom sparks rally, frenzy and fear
LONDON, June 10 : An AI boom has driven stock markets to record highs, big tech firms are piling hundreds of billions of dollars into new tech, while consumers, workers and businesses are grappling with existential questions unleashed by the likes of ChatGPT and Claude. Some analysts say Artificial ...
7 hours ago
Musk's xAI accused of illegally firing engineer who raised safety concerns
June 10 : A former engineer at Elon Musk's xAI who now heads a think tank focused on AI safety filed a lawsuit claiming he was fired from the SpaceX subsidiary for raising concerns about the risks artificial intelligence poses to humanity.Devin Kim claims in the lawsuit filed in California stat ...
7 hours ago
ASML to cut fewer jobs after talks with Dutch unions
June 10 : Chip-equipment maker ASML will cut fewer jobs than initially planned, Dutch unions said in a statement after talks with ASML.Redundancies are now expected to take effect from May 2027, ASML spokesperson Monique Mols said, adding that employees will be informed before the end of this month ...
7 hours ago
US shortens cyber fix window to three days as AI threats rise
WASHINGTON, June 10 : The U.S. cyber defense agency said on Wednesday that government officials now have three days to deal with the most serious categories of digital vulnerabilities in their networks, a compressed timeline that is due in part to hackers' use of artificial intelligence.The dea ...
7 hours ago
BYD looking to take over existing factory for second European EV plant, executive says
BERLIN, June 10 : Chinese electric vehicle maker BYD is looking to take over an existing factory in southern Europe for its second assembly plant on the continent, with Spain among the countries on its shortlist, a top executive said on Wednesday."We would prefer to take over an existing plant, ...
7 hours ago
Trump says he thinks AI companies will agree to 'giving back' to the public
WASHINGTON, June 10 : U.S. President Donald Trump said on Wednesday that he expects top artificial intelligence companies to agree to "giving back" to the public, an apparent reference to a possible government stake in the firms."I'm going to have meetings with the top 12 or 15 e ...
7 hours ago
Uber sues New York City over 'reckless' driver protection law
NEW YORK, June 10 : Uber Technologies sued New York City to block enforcement of a new law that it said would unconstitutionally force it to keep drivers it does not want on its platform.In a complaint filed late on Tuesday night, Uber said the law against "wrongful deactivations" would im ...
8 hours ago
Mitsubishi UFJ Morgan Stanley Securities aims to grow retail wealth assets by $62 billion
TOKYO, June 11 : Japan's Mitsubishi UFJ Morgan Stanley Securities (MUMSS) aims to increase assets managed for retail clients by 10 trillion yen ($62 billion) over the medium to long term, its president told Reuters. The securities firm and investment bank - a joint venture between Japan's ...
8 hours ago
OpenAI expects to go public 'within the next year,' the Information reports
June 10 : OpenAI CEO Sam Altman told staff in a message earlier this week that he expected the AI startup to go public "within the next year," The Information reported on Wednesday.The ChatGPT maker on Monday said it had confidentially filed for a U.S. initial public offering recently, joi ...
8 hours ago
Russia lifts Roblox ban, Interfax reports
MOSCOW, June 10 : Russian authorities have lifted a ban on U.S. gaming platform Roblox, Interfax news agency reported on Wednesday.The digital development ministry said on Tuesday it had asked law enforcement agencies to support lifting the restrictions after the company pledged to strengthen protec ...