17 minutes ago
Bitcoin falls 4% to over three-month low
June 3 : Bitcoin, the world's largest cryptocurrency by market value, on Wednesday fell 4 per cent to $64,721.39, the lowest since February 28.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
27 minutes ago
Trading Day: War clouds and tech wobbles
ORLANDO, Florida, June 3 : Escalating tensions in the Middle East and a wave of profit-taking in AI and tech shares cast a long shadow over markets on Wednesday, depressing the price of stocks and bonds while lifting the dollar and oil. In my column today, I look at why Japan may be "in the mon ...
32 minutes ago
Exclusive-Honeywell's Quantinuum raises $1.68 billion in US IPO as quantum computing heats up, source says
June 3 : Honeywell's Quantinuum raised $1.68 billion in its U.S. initial public offering after pricing shares at $60 apiece, a source familiar with the matter said on Wednesday, as investors flocked to one of the market's fast-growing emerging technology sectors.Broomfield, Colorado-based ...
43 minutes ago
NASA announces end of long-operating Mars probe's mission
WASHINGTON, May 29 : NASA announced on Tuesday the end of the mission of its MAVEN spacecraft, which spent more than 11 years orbiting Mars to study the atmosphere of Earth's planetary neighbor, after losing contact with the robotic probe six months ago.MAVEN, short for Mars Atmosphere and Vola ...
43 minutes ago
SpaceX sets $135 price for blockbuster IPO, upending Wall Street convention
NEW YORK, June 3 : SpaceX publicly set a $135 price for shares in its initial public offering on Wednesday, upending the longstanding Wall Street price-discovery apparatus and underscoring Elon Musk’s determination to raise record sums his way. The company’s decision to publish a price a week ah ...
48 minutes ago
CrowdStrike reports higher operating expenses as AI investments gain pace
June 3 : CrowdStrike reported a 15 per cent jump in its first-quarter operating expenses on Wednesday, as the cybersecurity company ramps up investments in AI and product development.Shares of the company fell 8 per cent in extended trading.Here are some details: • CrowdStrike expects 2027 rev
1 hour ago
Broadcom forecasts quarterly revenue above estimates
June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear.Revenue is expected to be about $29.4 billion in the quarter, compared with analysts' average estimate of $28.54 billion, according ...
1 hour ago
Broadcom forecasts quarterly revenue above estimates on strong AI chip demand
(Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7)June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear.However, shares of the Palo Alto, California-based company f ...
2 hours ago
Exclusive-Uber's commitment to self-driving startup Nuro is close to $500 million, sources say
SAN FRANCISCO, June 3 : Uber has committed close to half a billion dollars in self-driving startup Nuro, two sources directly aware of the matter told Reuters, detailing the extent of a major investment by the ride-hailing company in developing commercial robotaxis.After years of false starts, the r ...
3 hours ago
British lawmaker sues Musk's xAI over sexualised Grok images
LONDON, June 3 : British lawmaker Jess Asato is suing Elon Musk's xAI, saying in a statement on Wednesday the Grok AI platform had been used to create fake sexualised images of her.Grok, distributed through Musk's social media platform X, is currently subject to regulatory probes in severa ...
3 hours ago
US agency considers reforming, ending $3 billion school internet subsidy program
June 3 : The U.S. Federal Communications Commission said on Wednesday the agency is considering reforming or ending the roughly $3 billion annual E-Rate subsidy program for schools and libraries.The FCC said the commission wants to ensure E-Rate-funded internet networks and services are being used f ...
4 hours ago
SpaceX wins Texas county tax incentives for Terafab chip project despite local opposition
ANDERSON, Texas/NEW YORK, June 3 : SpaceX secured tax incentives on Wednesday for its proposed Terafab chip manufacturing project in Grimes County, Texas, despite fierce opposition from residents who warned the development could strain local resources and transform the rural community.The project is ...
4 hours ago
SpaceX wins Texas county approval for reinvestment zone tied to Terafab chip facility
ANDERSON, Texas/NEW YORK, June 3 : SpaceX won approval for a reinvestment zone in Texas on Wednesday despite fierce opposition from residents, clearing a key hurdle for a proposed $119 billion Terafab semiconductor manufacturing complex.The project is central to SpaceX's efforts to expand beyon ...
4 hours ago
Japan electronics retailers Yamada, Edion plan merger to create sector giant, Nikkei Asia reports
June 4 : Japan's consumer electronics retailers Yamada Holdings and Edion Corp are planning to merge, with combined sales of around 2.5 trillion yen ($15.62 billion), Nikkei Asia reported on Thursday.Both companies are likely to hold board meetings as early as this week to reach a basic agreeme ...
4 hours ago
OpenAI's Altman to urge US lawmakers not to require AI model approvals
WASHINGTON, June 3 : OpenAI CEO Sam Altman will advocate against proposals that AI developers obtain U.S. government approval before releasing new models to the public during his visit to Washington on Wednesday, according to a company statement.
5 hours ago
Tesla rolls out unsupervised robotaxis in Austin
June 3 : Tesla said on Wednesday it was rolling out its unsupervised robotaxis in the Austin Metro area in Texas, as the electric-vehicle maker looks to speed up its autonomous ride-hailing operation.Expanding the robotaxi service and wider adoption of its full self-driving software - a version of w ...
5 hours ago
Automakers, retailers warn US memory-chip shortage is impacting prices
WASHINGTON, June 3 : The increasing need for memory chips to power artificial intelligence data centers could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said on Wednesday.The groups said in a l ...
5 hours ago
Automakers, retailers warn memory chip shortage impacting prices
WASHINGTON, June 3 : The drastic shift of memory chips to artificial intelligence data centers could lead to dramatic price hikes in consumer goods and disrupt supply chains, groups representing automakers, retailers, electronic firms and others said Wednesday.The Alliance for Automotive Innovation, ...
6 hours ago
US factory orders post biggest gain in 11 months in April
It surges 4.8%, with commercial aircraft orders soaring 165.9%
6 hours ago
Nissan inks deal to make cars by Chery at its UK plant
The factory in Sunderland could start producing the Chinese brand’s vehicles as soon as 2027
6 hours ago
Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
June 3 : Alphabet has increased the size of its equity offerings to $84.75 billion, in a sign of strong investor appetite for big tech companies as they expand their AI infrastructure and computing power.On Monday, the Google parent said it would raise $80 billion, as big tech companies compete to o ...
6 hours ago
Uber cuts 23% of people division as new president takes charge
The layoffs represent less than 1% of the ride-share company’s global workforce
7 hours ago
Nissan inks deal to make Chery's UK vehicles at Sunderland facility
June 3 : Japan's Nissan has signed a deal with Chinese automobile manufacturer Chery to manufacture the latter's UK passenger vehicles at its Sunderland facility, the companies said on Wednesday.
7 hours ago
SpaceX will disrupt $1.6 trillion US communications industry, Oppenheimer says
June 3 : SpaceX will disrupt the $1.6 trillion U.S. communications industry as the Elon Musk-led company's satellite broadband unit Starlink expands, Oppenheimer said in a note on Wednesday, adding that legacy broadband providers like AT&T may be most at risk.The brokerage raised its estima ...
7 hours ago
Bangladesh seeks new IMF lending deal, officials say
DHAKA, June 3 : Bangladesh has requested a new loan arrangement from the International Monetary Fund and is exiting its current $5.5 billion programme, government officials said on Wednesday.The officials said Dhaka will soon start talks with the IMF on a framework that would shape the design and co ...
7 hours ago
Indonesian parrot, seen once in a century, reappears in mountain forest
June 3 : For the past century, the Blue-fronted Lorikeet was one of Indonesia's most elusive birds, known only from a 2014 photographic record and a handful of museum specimens, with a lingering hope that it had not vanished. After days of climbing through sharp limestone, biting insects and di ...
8 hours ago
Meta enters enterprise AI race with new business agent
LONDON, June 3 : Meta Platforms on Wednesday unveiled an artificial intelligence agent aimed at helping businesses carry out day-to-day operations, positioning the social media giant as a player in the enterprise AI market.Announced at the company's WhatsApp-focused Conversations conference in ...
8 hours ago
Little-tested spinal cord treatment triggers hope, hype and lawsuits in Brazil
SAO PAULO, June 3 : An experimental treatment for spinal cord injuries has ignited a frenzy in Brazil, drawing patients from as far off as Mexico to a small-town laboratory, mobilizing the government to expedite approval and turning a scientist into a national celebrity – all before its safety has ...
9 hours ago
EU plans energy standards for data centres amid concerns over soaring power use
BRUSSELS, June 3 : The European Union will develop minimum energy-efficiency standards for data centres, it said on Wednesday, as concerns grow over their rapidly rising power use.EU data centre capacity is expected to more than double in the coming years, reaching 28 gigawatts by 2030 from 12 GW la ...
9 hours ago
EU targets Big Tech dependence with 'made-in-Europe' drive
BRUSSELS, June 3 : The European Commission proposed new laws on Wednesday to boost domestic cloud, AI and semiconductor industries, aiming to cut reliance on U.S. Big Tech in a move that could ratchet up transatlantic tensions.The Cloud and AI Development Act and Chips Act 2.0 form part of Europe� ...
9 hours ago
Market research firm AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its previous funding round.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors including D ...
9 hours ago
AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its funding round two years ago.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors includ ...
9 hours ago
Scientists reveal Ötzi the Iceman's dynamic microbial world
June 3 : Ötzi the Iceman died violently roughly 5,300 years ago in the Alpine region of the modern border between Italy and Austria. An arrowhead was found lodged in his left shoulder, having caused fatal bleeding when he was attacked in mountainous terrain. But, in some sense, Ötzi still lives, a ...
10 hours ago
EU Parliament to switch to French search engine from Google in tech sovereignty push
BRUSSELS, June 3 : The European Parliament will switch to French search engine Qwant from Google, it said on Wednesday, underscoring Europe's push to reduce its reliance on U.S. technology in favour of local alternatives.The European Commission will later on Wednesday announce measures on chips ...