Dollar heads for weekly drop as jobs data dims Fed hike bets
HONG KONG, July 3 : The U.S. dollar was on track for the biggest weekly drop in nearly three months on Friday, after a tepid June jobs report pushed back markets expectations for Fed rate hikes, providing some relief for the embattled yen. Softness in the greenback continued in early Asian trade, wi ...
Elite UK REIT divests four properties in Wales for GBP6 mil
Teo Zheng Long - Elite UK REIT (SGX: MXNU ) announced that its wholly owned subsidiaries, Elite Gemstones Properties Limited and Elite Amphora Limited, have divested four properties in Wales for GBP6.0 million ($10.35 million) to an unrelated third-party purchaser. The four properties are: High Street, Swansea; Wind ...
Asian stocks edge up amid fears of AI rally overheating
The MSCI Asia Pacific Index climbs slightly; gauges fall in Japan but rise in South Korea
Tokenisation could ease liquidity bottlenecks in next phase of cross-border payments, say panellists
Meera Pathmanathan - Banks say digital assets will complement, not replace, existing cross-border payment systems
China quant funds draw billions as AI trounces human traders
The funds are churning out new products that are being snapped up by investors who are abandoning stock pickers
Gold jumps 2.8% after soft US job numbers ease Fed rate hike fears
Bullion extends a two-day recovery from its lowest level in almost seven months
Gold jumps after soft US job numbers ease Fed rate hike fears
Bullion jumps 2.8%, extending a two-day recovery from its lowest level in almost seven months
Elite UK Reit sells four Wales properties for US$8 million
Shikhar Gupta - They are sold to an unrelated third-party purchaser through the Reit’s wholly owned subsidiaries
Japan's services activity returns to growth in June, PMI shows
TOKYO, July 3 : Japan's services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. • The S&P Global final Japan Ser ...
Stocks to watch: Frasers Property, Elite UK Reit
Deon Loke - Soon Su Lin will step down as the CEO of Frasers Property Singapore on Oct 1, transitioning to a group advisory role
Soon Su Lin to step down as Frasers Property CEO; Tan Wee Hsien named successor
Deon Loke - Following the planned succession, she will serve as an adviser to support the group CEO
Interest in SGX-listed small and mid-cap stocks returning, but analysts flag overvalued tech stocks
Deon Loke - June’s wave of share buybacks by SMIDs reflects boards’ thinking that valuations have overcorrected: UOBKH
Tesla quarterly deliveries set record, but firm’s shares down 7.5% despite positive result
It delivered 480,126 vehicles worldwide in the second quarter, a 25% jump from the year-earlier period
Tesla vehicle sales jump 25%, far exceeding estimates
Despite the surprisingly positive result, the Elon Musk-led company’s shares tumbled 7.5% on Thursday
Oil fluctuates as crude flows surge through Persian Gulf
Saudi Aramco has switched to spot pricing to speed up sales in Asia, according to trade sources and shipping data
Blackstone's QTS terminates Digital Gateway data center project in Virginia
July 2 : Blackstone's QTS said on Thursday it had terminated its planned Digital Gateway data center project in Virginia and withdrawn the associated filings after years of planning and regulatory review.The data center operator has faced years of local opposition and litigation over the projec ...
Kioxia readies next-gen memory mass production as AI boom fuels dramatic comeback
TOKYO, July 3 : Kioxia will on Friday hold a ceremony at its fab in northern Japan as the chipmaker, whose shares have rocketed due to the AI investment boom, prepares to mass manufacture next-generation memory.The growth of AI has fueled a remarkable turnaround for Kioxia, which was previously seen ...
Dow jumps to record closing high after soft US jobs data; Nasdaq down with chip shares
Expectations for a rate hike from the Fed decreased after the release of the US jobs report
Crusoe in talks to raise $3 billion funding, Bloomberg News reports
July 2 : AI data center startup Crusoe is in talks to raise about $3 billion in a funding round that may triple its valuation, Bloomberg News reported on Thursday, citing people familiar with the situation.The startup has contracts to supply AI computing power for the likes of Meta and Oracle, the r ...
European shares close at record high after softer US jobs data calms rate hike fears
Short-term interest-rate futures reflected about a 60% chance of an interest rate hike from the Fed
US Department of Homeland Security says it is probing a cyber breach at information-sharing network
WASHINGTON, July 2 : The Department of Homeland Security said on Thursday it was investigating a breach in an unnamed information-sharing network.In a statement, DHS said there had been a "recent cyber incident" involving an "unclassified legacy information sharing environment" b ...
Exclusive-Meta's Zuckerberg says AI agent tech progressing slower than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg acknowledged shortcomings in the company's sweeping restructuring at an internal town hall on Thursday, saying the systems known as AI agents had not progressed as quickly as he had expected, according to a recording heard by Reuters. Zuck ...
Exclusive-Zuckerberg says AI agent tech is developing more slowly than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg told an internal town hall on Thursday that AI agent development over the last four months had not "accelerated in the way we expected," according to a recording heard by Reuters.Zuckerberg added that a company reorganization that inc ...
Exclusive-Zuckerberg says AI agent development going slower than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg told an internal town hall on Thursday that AI agent development over the last four months had not "accelerated in the way we expected," according to a recording heard by Reuters.Zuckerberg added that a company reorganization that inc ...
ElevenLabs explores employee stock sale at $22 billion valuation, Bloomberg News reports
July 2 : AI voice generation firm ElevenLabs is exploring a secondary share sale that would allow employees to sell stock, Bloomberg News reported on Thursday, citing people familiar with the matter.The proposed transaction could value the company at about $22 billion and is expected to occur by Sep ...
Amazon to start initial Leo internet service this year as network nears 400 satellites
WASHINGTON, July 2 : Amazon expects to roll out initial internet service with its Leo broadband satellite network later this year after the company's latest launch put the orbiting constellation's satellite count over 390, a company executive said on Thursday.Amazon's latest batch of ...
Google disrupts NetNut proxy network used in malware operations
July 2 : Alphabet's Google said on Thursday it weakened a large network of internet-connected devices that was being used to hide and route malicious online activity. The tech giant said it took action against the NetNut residential proxy network, also known as Popa, in partnership with the FBI ...
Here's why the South Pole froze over before the North Pole
July 2 : While it once was temperate and lush, Earth's southernmost continent Antarctica froze over about 34 million years ago, covered by an ice sheet that today is up to around 3 miles (5 km) thick. By contrast, the planet's northernmost realm, the Arctic region, did not freeze over for ...
Pick n Pay launches AI grocery shopping assistant in South Africa
JOHANNESBURG, July 2 : South African retailer Pick n Pay on Thursday launched an artificial intelligence-powered shopping assistant that helps customers build grocery orders using voice, text or photos instead of searching for products manually. The move is part of a drive by South Africa's sec ...
Trump administration and Anthropic have not discussed the government taking a stake in it, source says
WASHINGTON, July 2 : The Trump administration and AI giant Anthropic have not discussed the government taking stakes in the firm, a source familiar with the matter said on Thursday. The White House, the Commerce Department and Anthropic did not immediately respond to requests for comment. The commen ...
Bank of England’s Mann says she is ready to hike if price pressures persist
Mann has long advocated being “activist” by responding quickly and aggressively if circumstances change
White House’s Hassett criticises Powell for staying on at Fed
WHITE House National Economic Council Director Kevin Hassett criticised former Federal Reserve Chair Jerome Powell for staying on at the US central bank,...
Wall St opens higher after June jobs report eases rate-hike bets
[NEW YORK] Wall Street’s main indexes opened higher on Thursday (Jul 2) after a softer-than-expected employment report for June tempered expectations for...
Italy's Intesa shifts core IT banking systems to Google's cloud technology
MILAN, July 2 : Italy's biggest bank Intesa Sanpaolo on Thursday said it had completed the cloud migration of its core IT systems, joining a handful of European banks that have managed to move away from legacy technology. • Replacing existing core IT infrastructure, known as mainframes, with ...
