Rivian spinout Mind Robotics valued at $3.4 billion in new funding round
May 13 : Mind Robotics, a spinout from Rivian, was valued at $3.4 billion in a new funding round, up from the $2 billion valuation it secured during its Series A raise in March, according to a source familiar with the matter.The industrial robotics startup has raised $400 million in the Kleiner Perk ...
Top French court rejects Amazon challenge over French book delivery fees
PARIS, May 13 : France's highest administrative court, the Conseil d'Etat, rejected on Wednesday a challenge by Internet giant Amazon over minimum delivery fees on books, as the country continues its battle to protect its cultural traditions in an age of global, digital commerce.The French ...
AI is not replacing workers on a large scale so far, says Bank of Canada
Centurion’s Q1 revenue up 30% to S$89.4 million with growth in Singapore, Australia
Sharanya Pillai - The company is sanguine about the headwinds in the UK student accommodation sector
US FTC sues Shutterstock over subscription plans
NEW YORK, May 13 : Shutterstock will pay $35 million to settle U.S. Federal Trade Commission charges that the online provider of stock photography, graphics and videos misled consumers about its subscription plans and made it too difficult to cancel, the FTC said on Wednesday.The settlement resolved ...
Shutterstock to pay $35 million to settle US FTC charges over subscription plans, cancellations
NEW YORK, May 13 : Shutterstock will pay $35 million to settle U.S. Federal Trade Commission charges that the online provider of stock photography, graphics and videos misled consumers about its subscription plans and made it difficult to cancel, the agency said.Wednesday's settlement resolves ...
AI boom: AEM quadruples Q1 profit to S$14.3 million, raises FY2026 revenue guidance by 20%
Sharanya Pillai - Its largest customer this year will likely be a fabless artificial intelligence and high-performance computing player
LinkedIn is planning to lay off 5% of staff in latest tech-sector cuts, source says
[SAN FRANCISCO] LinkedIn is preparing to announce layoffs on Wednesday, people familiar with the matter told Reuters, in a widening of technology sector cuts...
Exclusive-LinkedIn is planning to lay off 5% of staff in latest tech-sector cuts, source says
SAN FRANCISCO, May 13 : LinkedIn is preparing to announce layoffs on Wednesday, two people familiar with the matter told Reuters, in a widening of technology sector cuts this year.The Microsoft-owned social network plans to cut about 5 per cent of staff as it reorganizes teams and focuses employees ...
Meta to launch ‘Incognito Chat’ for private AI conversations on WhatsApp
META Platforms is rolling out a new “Incognito Chat” feature for its artificial intelligence assistant on WhatsApp messaging service, the company said...
Meta to launch 'Incognito Chat' for private AI conversations on WhatsApp
May 13 : Meta Platforms is rolling out a new "Incognito Chat" feature for its artificial intelligence assistant on WhatsApp messaging service, the company said on Wednesday, as it looks to address data privacy concerns.Meta said incognito chats will be powered by its private processing tec ...
CNMC receives circular from local Kelantan mining authority to pay higher royalties
The Edge Singapore - CNMC Goldmine Holdings, which operates in Kelantan, says local authorities have raised the royalty rates miners in the state have to pay for their production. The company says it received a circular from the Kelantan State Land and Mines Office stating that with effect from Jan 1, it is to pay a 15% ...
S&P 500 opens muted as hot inflation data signals rates to stay on hold
[NEW YORK] The S&P 500 was subdued at the open on Wednesday (May 13) as hotter-than-anticipated producer prices reinforced bets that the...
Opec cuts 2026 global oil demand growth forecast
The war has effectively closed the Strait of Hormuz, a key global oil route
Stronger Russian rouble drives Food Empire’s Q1 revenue up 16.9% to US$159.7 million
Sharanya Pillai - The company’s board also approves a one-for-five bonus share issue to improve liquidity
Apple criticises EU measures to help AI rivals access Google services
BRUSSELS, May 13 : Apple on Wednesday echoed Google's criticism of EU antitrust regulators' efforts to force the search giant to help AI rivals access its services, warning the proposed measures pose risks to privacy, security and safety. Apple was responding to the European Commission ...
Food Empire chalks up record 1Q revenue; plans one-for-five bonus issue
The Edge Singapore - Food Empire Holdings has reported its strongest ever first quarter with revenue up 16.9% y-o-y to US$159.7 million, potentially extending five consecutive years of record sales. Revenue from Central Asia was up the most at 36.4% to US$30.7 million while Russia was next with a 29.4% gain to US$51 mil ...
British tech company Humanoid targets US IPO by 2030
May 13 : British technology company Humanoid is considering an initial public offering in the United States in 2029 or 2030 as it ramps up production and works through a growing industrial order book, its CEO said on Wednesday.Artem Sokolov told Reuters the company preferred a U.S. listing venue. He ...
Oil little changed as Trump visits China
The International Energy Agency said global oil supply would not meet total demand this year
AEM's 1QFY2026 earnings surge 329.4% y-o-y
The Edge Singapore - Chip tester AEM Holdings has reported earnings of $14.35 million for its 1QFY2026, a 329.4% y-o-y jump, on the back of a 35% increase in revenue to $116.9 million, as it fulfilled more orders from its key customers. In anticipation of a better year, AEM has raised its GY2026 revenue guidance by arou ...
Tesla authorised to test supervised self-driving software in Belgium
BRUSSELS, May 13 : Tesla has been authorised to test its supervised self-driving software on one car on the roads of Belgian region of Flanders as part of a the general authorization process, a spokesperson for regional minister Annick De Ridder said on Wednesday.• The U.S. company could start tes ...
Trump lands in China for Xi summit with billionaire CEOs in tow
Those accompanying the US president include Jensen Huang, Elon Musk
Shedding the iconic ‘Cycle & Carriage’ will be a loss – but perhaps a necessary one for Jardine
Jude Chan - Its famous Mercedes-Benz dealerships in Singapore and Malaysia account for only 4 to 5% of the company’s total earnings
Tower Semi forecasts upbeat quarterly revenue, signs $1.3 billion in AI chip deals
May 13 : Tower Semiconductor on Wednesday forecast second-quarter revenue above estimates and said it landed $1.3 billion in deals for 2027 to supply chips that use light to move data at high speeds through artificial intelligence data centers.Strong demand for its analog and mixed-signal processors ...
Jack Ma-backed Ant’s profit fell 79% on AI, health care costs
Ant has been investing in AI to find new revenue streams
Tencent Q1 revenue miss heightens pressure for AI payoff
The figure is up 9% at 196.5 billion yuan, less than the average analyst forecast of 199.4 billion yuan
Fitch cuts Bangladesh's outlook to 'negative' on Middle East conflict risks
May 13 : Credit ratings agency Fitch revised Bangladesh's outlook to "negative" from "stable" on Wednesday, citing rising macroeconomic and external financing vulnerabilities stemming from the conflict in the Middle East.The ratings agency said Bangladesh faced significant d ...
Ex-BOJ chief Kuroda sees yen intervention impact as short-lived
[TOKYO] Japan’s recent foreign exchange intervention may have kept the yen from sliding below the 160-per-dollar mark but it is unlikely to...
Middle East war hits ComfortDelGro’s UK taxi business; Q1 profit down 16.1%
Sharanya Pillai - However, its public transport segment shows improvement with revenue up 7.2%
AI cloud firm Nebius reports near eightfold revenue surge, shares jump
May 13 : Nebius Group reported a nearly eightfold rise in quarterly revenue on Wednesday, benefiting from increasing demand for artificial intelligence infrastructure and cloud services, sending its shares up 14 per cent in early trading. The Amsterdam-based neocloud company is racing to secure capa ...
Nebius reports higher quarterly capex on AI cloud expansion
May 13 : Nebius Group on Wednesday reported higher-than-expected first-quarter capital spending, driven by investments tied to the procurement of graphics processing units and data center hardware for its core AI cloud business.The company has grabbed a slice of the lucrative AI and cloud infrastruc ...
AI cloud firm Nebius reports near eightfold revenue jump, shares surge
May 13 : Nebius Group reported a nearly eightfold rise in quarterly revenue on Wednesday, benefiting from rising demand for artificial intelligence infrastructure and cloud services amid a boom in enterprise spending on the technology.Shares of Amsterdam-based Nebius soared 13 per cent in premarket ...
Daiwa House Logistics Trust posts 12.4% fall in Q1 NPI on weaker foreign currencies
Deon Loke - Also cited for the decline is a lower contribution from its Japan portfolio
Singapore stocks end higher despite Genting disappointment; STI up 1.2%
Jude Chan - The Resorts World Sentosa operator falls 10.1% to close at S$0.62, after posting a 55% drop in Q1 net profit
