36 minutes ago
Meta is building a cloud business to sell excess AI computing power
It will run the data centres and chips that power the models and charge developers to access them
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
1 hour ago
Airlines’ carbon offsetting scheme is at least a US$1.6 billion opportunity for Asean: report
Janice Lim - The opportunity set could go up to US$8.5 billion
1 hour ago
Tuan Sing’s CEO and property tycoon Koh Wee Meng in married deal involving 65.83 mil shares
Teo Zheng Long - Both property tycoon Koh Wee Meng and Tuan Sing Holdings’ CEO, William Liem, recently entered into a married trade and settlement of the trade took place on June 30. According to the SGX filing dated July 1, Koh sold 65.83 million shares in Tuan Sing to Greenpark Investment Pte Ltd, which Liem is ...
2 hours ago
Sony to end production of physical PlayStation discs in 2028
The company becomes the first major console maker to fully abandon physical media
2 hours ago
Sony to end discs for new PlayStation releases as gaming shifts online
July 1 : Sony said on Wednesday it will stop producing physical discs for all new games released on PlayStation consoles from January 2028, marking a full shift to digital distribution as consumer purchases continue to move online.Digital downloads accounted for about 80 per cent of Sony's full ...
2 hours ago
Wall St slips at open as US-Iran tensions cloud start to second half
[NEW YORK] Wall Street’s main indexes opened lower on Wednesday (Jul 1) as fresh US-Iran tensions cast doubt over peace in the...
2 hours ago
Samudera Shipping acquires DBS property holding company Crest10 for S$21 million
Elysia Tan - It calls this a chance to own a strategically located commercial premises for its own use and/or for investment
3 hours ago
Meta building cloud business to sell excess AI capacity, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday, as tech giants seek returns on costly AI investments amid worries about overspending.The plans are still in development and it’s possible the strategy could change, the ...
3 hours ago
Meta to sell excess AI computing capacity via cloud business, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday citing people familiar with the matter.Shares of the company were up more than 6 per cent in premarket trading. Reuters could not independently verify the report.
3 hours ago
Koh Brothers Eco Engineering gets in-principle approval to move to SGX mainboard
Elysia Tan - The proposed transfer is expected to boost group’s visibility, give it access to wider investor base
3 hours ago
FactSet tops quarterly profit estimates on steady demand for data, analytics services
July 1 : Financial data firm FactSet reported third-quarter profit above Wall Street estimates on Wednesday, buoyed by growth in subscriptions.Geopolitical uncertainty owing to the U.S.-Israeli war with Iran has rattled global markets, boosting demand for FactSet's data and analytics services a ...
3 hours ago
Micron, GM sign semiconductor supply agreement for vehicles
July 1 : Micron Technology and General Motors have signed a supply agreement for memory and storage platforms used in vehicle production, the companies said on Wednesday. The agreement comes at a time when automakers are looking to bolster their semiconductor supply chains to help with growing compu ...
3 hours ago
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
Elysia Tan - Investors will be able to buy single units of instruments priced above S$100 when the change kicks in
4 hours ago
Temasek-backed Foundation Healthcare seeks to raise S$242 million in mainboard IPO
Chloe Lim - Offering comprises nearly 162.6 million shares at S$0.76 apiece
4 hours ago
BYD’s sales rise for second month, buoyed by exports
Its overseas sales helped cushion weakness in China
4 hours ago
Dollar bulls gain ground even as most FX strategists still expect weakness: Reuters poll
BENGALURU, July 1 : The U.S. dollar’s recent rebound will fade in coming months as cooling oil prices temper inflation fears and Federal Reserve rate hike bets, a majority of FX strategists said in a Reuters poll, though a sizable minority say the strength is here to stay. A brief respite from the ...
4 hours ago
UOB, quantum technologies centre partner to explore quantum computing for derivatives valuation
Elysia Tan - Large-scale simulation methods are being used currently but they can be time and resource-intensive
4 hours ago
Singapore’s BDx says open to an IPO as AI boom fuels Asia expansion
It is looking at expansion opportunities across Apac, broadly within a five-hour flight radius of Singapore
4 hours ago
Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
STOCKHOLM, July 1 : A Swedish court said on Wednesday Alphabet's Google is to pay the equivalent of around 14.3 billion Swedish crowns ($1.5 billion) in antitrust damages to Klarna's price comparison company PriceRunner. "PriceRunner is considered to have suffered damage as a result o ...
4 hours ago
Swedish court orders Google to pay $1.5 billion to Klarna in antitrust damages
STOCKHOLM, July 1 : A Swedish court on Wednesday ordered Alphabet's Google to pay about $1.5 billion in antitrust damages to PriceRunner, the price comparison business owned by payments platform Klarna.The award, equivalent to around 14.3 billion Swedish crowns, comes amid growing scrutiny of U ...
4 hours ago
SGX to implement post-trade custody model from mid-July; lower board lot sizes in early October
Felicia Tan - Following public consultations on initiatives such as the post-trade custody model and reducing board lot sizes for certain stocks, the Singapore Exchange (SGX) announced, on July 1, that it will allow depository agents to hold SGX-listed securities on behalf of clients in omnibus broker custody acc ...
4 hours ago
Goldman flags oil surplus even as nations rebuild stockpiles
Crossings through Hormuz have picked up despite attacks on two vessels in recent days
5 hours ago
Singapore stocks fall as investors await Fed chair comments; STI down 0.2%
ST Engineering leads the gainers on the blue-chip index
5 hours ago
Yen wallows at 40-year low as dollar rally gets yield boost
LONDON, July 1 : The dollar hit a 40-year high against the yen on Wednesday as a sharp rise in U.S. Treasury yields boosted the currency ahead of U.S. jobs data that could strengthen the case for a Federal Reserve rate hike this month.The dollar rose as high as 162.84 yen, well above levels that pro ...
5 hours ago
Dollar fades as Fed's Warsh softens inflation tone
NEW YORK, July 1 : The dollar pared earlier gains on Wednesday after Federal Reserve Chair Kevin Warsh said that inflation expectations and inflation risks have eased in recent weeks, ahead of a closely watched jobs report due on Thursday. The Japanese yen, which had earlier slumped to a 40-year low ...
5 hours ago
BYD's sales rise for second month, buoyed by exports
BEIJING, July 1 : Chinese electric vehicle maker BYD logged a second straight month of rising sales globally in June, as strong exports offset sluggish domestic demand.Total vehicle sales were up 5.5 per cent from a year earlier to 403,472 units last month, according to Reuters calculations based on ...
5 hours ago
Unchecked AI progress may pose catastrophic risks, UN panel warns
GENEVA, July 1 : Developments in artificial intelligence are outpacing scientific understanding and government policy, meaning there are no guarantees the technology will not cause catastrophic harm, a United Nations independent panel warned on Wednesday.A preliminary report by the UN's Indepen ...
5 hours ago
Foundation Healthcare prices Mainboard IPO offering at 76 cents per share
Felicia Tan - Foundation Healthcare Holdings is seeking to raise $242 million in connection with its proposed initial public offering (IPO) on the Mainboard of the Singapore Exchange (SGX). According to its prospectus lodged on July 1, the SeaTown-backed integrated private healthcare platform is offering 162,566, ...
5 hours ago
Vimeo owner Bending Spoons likely to open 14% above IPO price in Nasdaq debut
July 1 : Bending Spoons is set for its U.S. market debut later on Wednesday after the Italian technology company priced its initial public offering above the range to raise $1.68 billion.Its stock was indicated to open at $33, giving the Milan-based company a potential valuation of roughly $21 billi ...
5 hours ago
Vimeo owner Bending Spoons heads for US market debut after $1.68 billion IPO
July 1 : Bending Spoons is set for its U.S. market debut later on Wednesday after the Italian technology company priced its initial public offering above the range to raise $1.68 billion.The listing will test investor appetite for software companies after the industry was hammered earlier this year ...
5 hours ago
Defense startups raid auto and fracking sectors for parts to speed weapons output
WASHINGTON, July 1 : Defense tech startups are repurposing automotive chips and pipes used in fracking - while copying production methods from drugmakers - in an effort to deliver weapons to the Pentagon faster and at lower cost.Soaring demand for rocket motors used to power missiles and other weapo ...
6 hours ago
Wayve courts automakers with AI driving system that learns like humans
July 1 : Autonomous-driving startup Wayve is riding a tide of investor interest. The London-based company has pulled in $2.8 billion from a roster of investors and strategic partners that includes big names across the technology and automotive sectors, from Nvidia to Mercedes-Benz and Nissan. In Jun ...
6 hours ago
Nike stumbles as China woes, cautious outlook temper turnaround hopes
NIKE shares fell 3.5 in premarket trading on Wednesday after its latest quarterly results failed to revive investor hopes of a...
6 hours ago
High Court dismisses StanChart's appeal to strike out US$2.7 billion 1MDB-linked lawsuit
Tessa Oh - This paves the way for the case to go to trial