US Supreme Court won't block Texas app store age verification law
WASHINGTON, July 6 : The U.S. Supreme Court declined on Monday to block a Texas law requiring app stores and developers to verify the age of mobile device users, and for minors to obtain parental consent, to download apps or make purchases, acting in a challenge on free speech grounds by a technolog ...
NASA rover takes a closer look at organic carbon on Mars
WASHINGTON, July 6 : Using NASA's Perseverance rover, scientists are getting a greater understanding of the nature of some of the organic carbon — the molecular backbone for all known living organisms — detected on Mars as they explore the question of whether Earth's planetary neighbor ...
US judge rejects Elon Musk's bid to set aside Twitter fraud verdict
July 6 : A federal judge on Monday rejected Elon Musk's bid to dismiss a recent jury verdict finding that the world's richest person defrauded Twitter investors when buying the social media company, despite finding that Musk was not liable for one of his challenged tweets.U.S. District Jud ...
Elon Musk's bid to set aside Twitter fraud verdict rejected by US judge
July 6 : A federal judge on Monday rejected Elon Musk's bid to void a jury verdict finding that the world's richest person defrauded Twitter investors by trying to drive down the social media company's stock price after agreeing to a $44 billion takeover.U.S. District Judge Charles Br ...
Volkswagen CEO faces acid test from unions over swingeing job cut plans
The plans will include significant cost reductions, the four plant closures and roughly 50,000 extra job cuts, sources say
Gold falls after weekly gain as Fed rate-hike concerns recede
Spot gold declines 0.9% to US$4,140.32 an ounce
Lockheed to buy Ultra Maritime for US$3.45 billion in sea push
[NEW YORK] Lockheed Martin agreed to buy naval defence business Ultra Maritime, which focuses on submarine detection systems, for US$3.45 billion as...
Microsoft’s Xbox to cut 3,200 jobs, divest five studios in major overhaul
[NEW YORK] Microsoft Corp’s Xbox plans to eliminate 3,200 jobs, or around 20 per cent of its staff over the next year, as...
Wall St opens higher as chip shares recover
[NEW YORK] Wall Street’s main indexes opened higher on Monday (Jul 6), extending last week’s rally as chip stocks rebounded, while investors...
Microsoft joins AI-driven tech layoff wave with 4,800 job cuts
Microsoft is cutting about 2.1 per cent of its workforce, or roughly 4,800 jobs, the latest in a wave of tech layoffs as the Windows maker spends heavily on AI infrastructure and uses the technology to improve efficiency across its business.Big Tech's historic AI outlays, set to top US$700 bill ...
TeraWulf jumps on $19 billion data center lease deal with Anthropic
July 6 : TeraWulf said on Monday it signed a 20-year lease with Anthropic for data center infrastructure, a deal expected to generate about $19 billion in contracted revenue, sending the bitcoin miner's shares up more than 10 per cent in early trading.The deal secures long-term, recurring reven ...
AI investors may pivot to hyperscalers from chipmakers, Morgan Stanley says
July 6 : Morgan Stanley said the recent weakness in U.S. semiconductor stocks is a sign that the market gains are broadening, with investors likely to turn toward AI "hyperscalers" as well as consumer discretionary, transport and biotechnology shares. In a note dated Monday, the brokerage ...
Micron, Ford sign semiconductor supply agreement for vehicles
July 6 : Micron Technology and Ford Motor on Monday signed a long-term agreement to secure the supply for memory and storage platforms used in the automaker's next-generation vehicle production.This comes days after Micron's similar agreement with General Motors, as part of the chipm ...
ECB payment system suffers second outage in a week
FRANKFURT, July 6 : The European Central Bank's payment system on Monday suffered a second, short outage in the space of a week due to a glitch caused by a software update.The T2 system, which handles trillions of euros of daily transactions, was down for roughly 40 minutes in the early hours o ...
Blackstone, CVC and MUFG among bidders for stake in Vietnam’s fintech firm MoMo: sources
The investor interest comes as Vietnam’s digital financial services market expands
Solstice buys Element Solutions in $14.5 billion deal, sharpens focus on AI market
July 6 : Honeywell spinoff Solstice Advanced Materials said it will buy peer specialty chemical company Element Solutions in a $14.5 billion deal, as it seeks to capitalize on growing demand from AI data centers and the chip industries.The deal would create a larger supplier of materials used in sem ...
Honeywell spinoff Solstice to buy Element Solutions for $14.5 billion
July 6 : Honeywell spinoff Solstice Advanced Materials said on Monday it will buy Element Solutions at about $14.5 billion, including debt, in a cash-and-stock deal.The deal comes less than a year after Solstice completed its spin-off from industrial conglomerate Honeywell International. The combina ...
Broadcom, Apple extend chip partnership through 2031
The extended partnership reinforces Apple’s strategy of locking in long-term supply agreements with key chipmakers
Broadcom, Apple extend chip supply deal through 2031
July 6 : Broadcom said on Monday it has agreed to expand its partnership with Apple through 2031 to develop and supply a range of custom chips, sending the shares of the chipmaker up nearly 4 per cent in premarket trading.Broadcom has been a supplying key components to Apple for a very long time, in ...
US dollar edges up; keeps yen pinned near 40-year lows
The dollar found its feet after having posted its worst weekly performance since April last week
Italy reshapes national cloud company as Leonardo, Poste target control, sources say
MILAN/ROME, July 6 : Italian defence group Leonardo is preparing to increase its stake in the company that manages cloud services for Italy's public administration by acquiring an additional 10 per cent from state-owned IT company Sogei, sources told Reuters.Leonardo, which already owns 25 per ...
Hedge funds dumped chip stocks for a fourth week as AI shares sold off
LONDON, July 6 : U.S. hedge funds sold tech hardware stocks for a fourth week in a row, according to a client note from Goldman Sachs on Friday, in line with a recent decline in global chip shares and just before many of these companies will report earnings.Tech shares and especially semiconductors ...
Nvidia supplier Unimicron seeks US$1.4 billion share sale amid AI boom
An AI frenzy that has lifted the Taiwanese chip supplier’s stock more than 700% over the past 12 months
CLSA starts Food Empire at ‘outperform’ with $3.60 target price
Felicia Tan - Analyst Mahir Murtaza has initiated an “outperform” call on Mainboard-listed Food Empire Holdings with a target price of $3.60. “Food Empire is misread: the market is still pricing it as a Russia-exposed 3-in-1 sachet business, not the emerging-market coffee platform it has quietly become,” ...
Financial services AI dangers highlighted by regulator's review
LONDON, July 6 : Britain’s financial regulator has been urged to consider regulation of large language models such as ChatGPT, Claude and Gemini because of their growing influence on consumer financial decisions.In a review commissioned by the Financial Conduct Authority and published on Monday, t ...
Britain should consider regulating AI models, FCA official says
LONDON, July 6 : Britain should review whether large language models such as ChatGPT, Claude and Gemini should be regulated as general-purpose AI tools as they increasingly influence consumer financial decisions, a senior official said on Monday. Financial Conduct Authority Executive Director Sheldo ...
Thales strikes deal for controlling stake in sea drone maker Exail
Thales and Exail see anti-submarine warfare addressable market increasing almost tenfold to over 700 billion euros in 2030
South Korea’s SK Hynix launches US$28 billion US listing to ride global AI wave
The company will sell 17.79 million new shares in Nasdaq depository receipts
Singapore stocks rise amid mixed regional trading; STI up 0.3%
Thai Beverage leads the blue-chip gainers with a 2.3% or S$0.01 increase to S$0.45
Denmark intervenes in EU court case over publishers' rights
July 6 : The Danish government has filed a written intervention in the European Court of Justice's case pitting tech companies against Belgium's government, citing the potential impact of the case on the rights of Danish media houses, the Culture Ministry said on Monday.Streamz, Google, Me ...
World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
The global economy has drained the buffers that shield it from supply crises, data from the International Energy Agency indicates
Indian IT firms face muted Q1 as AI shift, weak demand weigh
BENGALURU, July 6 : India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.The April-to-June quarter is usually a strong o ...
ITV and Sky reshape British TV landscape with $2.1 billion deal
LONDON, July 6 : Comcast's Sky has agreed to buy the broadcast channels and streaming service of Britain's ITV for £1.6 billion ($2.13 billion), creating a British champion with the scale to compete with global players like Netflix, Amazon and Disney.Sky CEO Dana Strong said the deal, ann ...
ITV and Comcast's Sky reshape British TV landscape with $2.1 billion deal
LONDON, July 6 : Comcast's Sky has agreed to buy the broadcast channels and streaming service of Britain's ITV for £1.6 billion ($2.13 billion), creating a British champion to compete with global players YouTube, Netflix, Amazon and Disney.Sky CEO Dana Strong said the deal, announced on M ...
