Klarna strikes $6.5 billion loan deal with Elliott funds to boost US push
Klarna said on Tuesday it will sell up to $6.5 billion of loans to funds managed by Elliott Investment Management over a two-year period, as part of efforts to expand its buy-now-pay-later business in the U.S.The agreement allows the Swedish fintech to sell a portion of its existing Fair Financing p ...
ChatGPT, X among sites blocked in widespread Cloudflare outage
[SAN FRANCISCO] ChatGPT and the social-media platform X were among the websites blocking some users’ access on Tuesday (Nov 18) as the...
Malaysia palm oil output to meet forecast despite monsoon season, says SD Guthrie
[KUALA LUMPUR] The arrival of the monsoon season has raised concerns about potential disruptions to Malaysian palm oil production over the next...
Klarna Q3 revenue beats estimates in first earnings report after IPO
(Corrects day of the week in paragraph 1)STOCKHOLM :Swedish fintech Klarna on Tuesday reported a 26 per cent jump in third-quarter revenue, beating expectations in its first report as a public company, and forecast revenue to cross $1 billion in the current quarter, backed mainly by growth in U.S. m ...
AI accounting startup Maxima raises $41 million in Kleiner Perkins-backed round
Artificial intelligence startup Maxima has raised about $41 million from investors including Redpoint Ventures and Kleiner Perkins as it looks to automate accounting for businesses, the company said on Tuesday.The $143 million valuation after Seed and Series A funding for the one-year-old San Mateo, ...
Elon Musk's X down for thousands of US users, Downdetector shows
Elon Musk's X was down for thousands of users in the U.S. on Tuesday, according to Downdetector.com.There were more than 5,600 reports of issues with the social media platform, as of 06:51 a.m. ET, according to Downdetector, which tracks outages by collating status reports from a number of sour ...
Roblox to require age checks to use platform's chat features
WASHINGTON :Gaming platform Roblox will require users to verify their age using facial recognition software to chat with other players, a company executive said, with the goal of limiting communication between kids and adults on the platform.The company announced the new requirement amid criticism f ...
Xiaomi’s EV arm makes a profit for the first time
The division, which sold its first car last year, posts a profit of 700 million yuan in the September quarter
Xiaomi reports 81% jump in third-quarter profit on strong EV sales
Adjusted net profit reaches 11.3 billion yuan (S$2.1 billion), exceeding the average estimate of 10.3 billion yuan
Sculptura Ardmore condo unit sells for almost S$6,200 psf amid uptick in high-end sales
Ry-Anne Lim - This is the fifth deal this year to cross the S$6,000 psf mark, after only six sales surpassed this threshold between 2011...
Temasek-backed Manner Coffee seeks Hong Kong IPO, 10 years after starting as tiny stall: sources
The coffee chain now operates more than 2,000 directly owned stores in China
Coliwoo expects stronger core profit despite lower net profit before tax for FY2025
Goh Ruoxue - Lower net profit is attributed to absence of net fair value gain on investment properties in the financial year ended Sep 30
AkzoNobel, Axalta to merge creating US$25 billion paint giant
Under the merger, AkzoNobel shareholders will receive a US$2.5 billion dividend payout
Singtel users report mobile service disruption on Nov 18
Shikhar Gupta - More than seven in 10 users report an outage in mobile phone services
Singtel users report getting hit by mobile service disruption on Nov 18
Shikhar Gupta - More than seven in 10 users reported an outage in mobile phone services
Nvidia set for $320 billion price swing after earnings, options indicate
NEW YORK :Nvidia's earnings report on Wednesday could trigger a $320 billion swing in the chipmaker's market value — the largest post-earnings move ever for the AI giant — as investors seek signals about whether the artificial intelligence boom is accelerating or cooling.Nvidia options ...
France's Eviden to build new supercomputer with AMD in European AI push
Eviden, a division of French IT group Atos, said on Tuesday it had won a contract together with U.S. chipmaker Advanced Micro Devices (AMD) to build a new supercomputer in Europe, as the region moves to close the technology gap with the U.S.The machine, named after French computer scientist Alice Re ...
Nio’s Firefly EV brand seeks growth in right-hand drive markets without tariffs
Firefly EV marketed as premium in Singapore, avoiding price war with domestic rivals
IOI Properties eyes Reit listings in Malaysia, Singapore, with assets of US$8 billion
[SINGAPORE] Malaysia’s IOI Properties Group is exploring two real estate investment trust listings in Malaysia and Singapore, with a combined asset value...
NTUC Enterprise’s Mercatus said to have put 11 retail assets up for sale at S$307 million guide price
Kalpana Rashiwala - Portfolio divided into four bundles; sale will be with existing long-term tenancies to NTUC FairPrice supermarket chain
ISDN Holdings reverses into earnings for 3QFY2025 of $2.29 mil
Nicole Lim - ISDN Holdings has reported a net profit of $2.29 million for the 3QFY2025 ended Sept 30, a reversal from the net loss reported in the same period a year ago. For the 9MFY2025, net profit came in 2% y-o-y lower at $3.58 million. The group says that large non-cash, and non-current revaluations of long ...
Daily Debrief: What Happened Today (Nov 18)
Stories you might have missed
Analysts increase Marco Polo Marine’s TPs to 12 cents and above after shipbuilding contract win
Felicia Tan - Analysts from Maybank Securities, CGS International (CGSI), UOB Kay Hian and RHB Bank Singapore are remaining bullish on Marco Polo Marine, perhaps even more so, after the offshore and marine (O&M) secured its largest shipbuilding contract to date. All brokerages have maintained their “add” ...
Yangzijiang Maritime closes at 67 cents on debut day of trading; reaches intra-day high of 71 cents
Nicole Lim - Yangzijiang Maritime, the spin-off listing of Yangzijiang Financial Holding, closed at 67 cents on its debut day of trading on Nov 18. Trading commenced at 9am on Nov 18 at 66 cents and reached an intraday high of 71 cents. On Oct 30, Yangzijiang FInancial received conditional eligibility-to-list th ...
Exclusive-Brazil eyes taxing crypto for cross-border payments, sources say
BRASILIA :Brazil is looking at taxing the use of cryptocurrencies for international payments, two officials with direct knowledge of the discussions told Reuters, closing a loophole in the country's usual levy on foreign-exchange transactions.One of the sources, who spoke on condition of anonym ...
Future of Investment and Trade Partnership agrees on supply-chain resilience efforts at first meeting
Low Youjin - The group of small and medium-sized pro-trade countries is not ‘against any particular country’, says DPM Gan Kim Yong
Ueda signals BOJ remains on rate hike path after PM meet
He stressed his unshaken intention to carefully raise rates
STI falls 0.9%, tracking regional peers
Young Zhan Heng - All the STI constituents were in the red
EU probes Amazon, Microsoft's cloud services for potential curbs
The European Commission has launched three market investigations on cloud computing services by Amazon and Microsoft under the Digital Markets Act (DMA), which aims to curb the power of Big Tech and ensure a level playing field for smaller rivals.It opened two probes to assess if the companies shoul ...
European Commission probes cloud computing services by Amazon, Microsoft for potential gatekeeping
The European Commission has launched market investigations on cloud computing services by Amazon and Microsoft under the digital markets act (DMA), which aims to curb the power of Big Tech and ensuring a level playing field for smaller rivals.It said it opened two probes to assess if the companies s ...
Baidu posts worst sales fall on record despite major AI spending
The results underscore the Internet search leader is losing ad business to rivals while struggling to compete in a crowded AI field
Analysts upgrade Delfi to ‘hold’ after ‘surprisingly strong’ 3QFY2025 results
Felicia Tan - Analysts from CGS International and DBS Group Research have upgraded Delfi Limited to “hold” from “reduce” and “fully valued” respectively. Both brokerages have also given the Mainboard-listed confectioner higher target prices after the company reported a “surprisingly strong” set of ...
More jail time for former KTL Global chief executive Tan Kheng Yeow
Shikhar Gupta - He has been sentenced to two years and eight months in prison
Europe's banks face 'unprecedentedly high' risk of shocks, ECB warns
Banks face a new reality with more frequent shocks from tariffs to cyberattacks
