Trading Day: Tech outlook is cloudy
ORLANDO, Florida, June 25 : It was a day of modest reversals across currencies and commodities on Thursday, to varying degrees, as the dollar rally and oil slump paused for breath. Meanwhile, stocks in Europe and Asia rose, but megacap tech weakness weighed on Wall Street. In my column today, I look ...
OpenAI leans toward waiting until next year for IPO, NYT reports
June 25 : OpenAI is considering holding off on its public debut until next year, the New York Times reported on Thursday, citing three people involved in the company's deliberations.The AI startup, which has confidentially filed for a U.S. initial public offering, is targeting a valuation of up ...
Onsemi to buy Synaptics in $7 billion all-stock deal
June 25 : Onsemi said on Thursday it had agreed to acquire Synaptics in an all-stock deal valued at about $7 billion, potentially broadening the chipmaker's presence in the fast-growing market for AI-enabled devicesShares of Onsemi fell about 7.4 per cent in extended trading, while those of Syn ...
Stellantis, Nissan eye Marelli assets in rescue talks, Bloomberg reports
June 25 : Automakers Stellantis and Nissan Motor are in talks to take over some assets of Japanese auto parts supplier Marelli Holdings, Bloomberg News reported on Thursday, citing sources.Stellantis is in discussions to acquire Marelli's suspensions business in Italy and some other countries, ...
Xbox to raise console prices worldwide from August
June 25 : Microsoft's Xbox is raising prices of its gaming consoles by up to $150 worldwide, citing a deepening global components crisis that has sent storage and memory costs soaring across the consumer electronics industry.Groups representing automakers, retailers, electronics firms and other ...
Exclusive-Bumble dating app explores sale, sources say
NEW YORK, June 25 : Dating app Bumble is exploring a sale amid slowing growth in the online dating sector, according to three people familiar with the matter.The company, which gained recognition as one of the first major platforms to require women to initiate contact, is working with investment ban ...
Italy's Domyn to launch open source frontier AI model within a year, CEO says
June 25 : Italy's Domyn will release a fully open-source AI model within a year, aiming to build one of the most advanced so-called "frontier" systems available, CEO Uljan Sharka said on Thursday.The move comes as Europe seeks alternatives to reduce reliance on foreign-hosted AI syste ...
World stocks climb on chip rally; dollar steadies near one-year high
NEW YORK, June 25 : Global stocks rose on Thursday as strong earnings from chipmakers lifted sentiment, while the dollar hovered near a one-year high, with investors remaining wary about stretched valuations.The benchmark S&P 500 and the Nasdaq were advancing on Wall Street, led by industrials, ...
US FCC toughens submarine communication cable rules
WASHINGTON, June 25 : The Federal Communications Commission on Thursday voted to toughen oversight of submarine communications cables that handle 99 per cent of international internet traffic, proposing rules that will make it harder for Chinese companies to provide equipment and fast-track ap ...
Micron joins rivals pitching AI deals as cure for memory's boom-bust cycle
SAN FRANCISCO, June 25 : Memory chipmakers have for decades been trapped in boom-bust cycles, with capacity buildouts hitting the market just as demand craters. Micron, Samsung and SK Hynix are now trying to convince investors this time is different, arguing long-term deals will keep cash flowing ev ...
Dollar retreats as US inflation data eases rate hike expectations
NEW YORK, June 25 : The dollar was set to snap a three-session streak of gains on Thursday, after a flurry of U.S. economic data that included a reading on inflation softened expectations for rate hikes from the Federal Reserve this year. The Commerce Department said the personal consumption expendi ...
Dollar eases from 13-month high after data burst
NEW YORK, June 25 : The dollar was on track to snap a three-session streak of gains on Thursday, after a flurry of U.S. economic data that included a reading on inflation slightly dented expectations for rate hikes from the Federal Reserve this year. The Commerce Department said the personal consump ...
US Fed's preferred inflation gauge hits fresh three-year high
WASHINGTON: The US Federal Reserve's preferred inflation measure hit a fresh three-year high in May, as elevated energy prices from President Donald Trump's Iran war pose a key test to his Republican Party ahead of midterm elections.The personal consumption expenditures (PCE) prices index ...
Wall St opens higher after Micron revives AI optimism, upbeat economic data
[NEW YORK] Wall Street’s main indexes advanced on Thursday (Jun 25) as strong forecasts from Micron and Qualcomm renewed AI optimism, while...
Micron overtakes Meta, Tesla in market value amid relentless AI infrastructure demand
June 25 : Micron Technology edged past the market valuation of Meta Platforms and briefly Tesla's for the first time on Thursday, after the memory chipmaker's solid forecast helped extend its AI-driven ascent.The company's shares were last up 18.4 per cent at $1,236, giving it a marke ...
Singapore Airlines CEO’s pay package rises to S$9.7m as revenue hits record S$20.5b
[SINGAPORE] Singapore Airlines’ (SIA) chief executive Goh Choon Phong received nearly S$9.7 million in total remuneration for the financial year ended March 31, as SIA...
Singapore Airlines CEO’s pay package rises to $9.7m as revenue hits record $20.5b
[SINGAPORE] Singapore Airlines’ (SIA) chief executive Goh Choon Phong received nearly S$9.7 million in total remuneration for the financial year ended March 31, as SIA...
Chinese banks move to rein in retail gold trading on volatility
They cite risk management for the closures, which covers trading in both spot and deferred delivery contracts
US to create genomic and cellular 'BioVault' for endangered species
WASHINGTON, June 25 : A biotech company and a U.S. government agency announced on Thursday a plan to create an archive of living cells and genomic material for every species protected under the U.S. Endangered Species Act in a project to safeguard roughly 2,300 types of animals and plants deemed thr ...
OCBC keeps ‘buy’ on OUE REIT following proposed divestment of Crowne Plaza Changi Airport
Jovi Ho - Changi Airport is now “in the rear-view mirror” for OUE REIT, says OCBC Group Research analyst Ada Lim, following news of its proposed divestment of Crowne Plaza Changi Airport to improve financial flexibility, crystallise value and recycle capital. OUE REIT announced pre-market on June 25 that ...
Apple raises prices of MacBooks, iPads as memory costs skyrocket
SAN FRANCISCO: Apple raised iPad and MacBook prices on Thursday (Jun 25), saying it could no longer shield customers from soaring memory and storage chip costs driven by the AI industry's data centre buildout.The move does not affect Apple's main cash cow, the iPhone. But it would take sta ...
MAS to consult on introducing protected cell company structure to scale alternative risk-transfer solutions
The Edge Singapore - The Monetary Authority of Singapore (MAS) will consult on introducing a new corporate structure, the protected cell company (PCC), to scale alternative risk-transfer solutions, says Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry. Gan, who is also MAS's chairman, made th ...
Serial Achieva wins co-location service agreement contract worth RM17.8 mil
Teo Zheng Long - Tech distributor Serial Achieva (SGX: XHV ) announced that its indirect wholly-owned subsidiary, Achieva Cloud Services Sdn Bhd (ACSSB), entered into a co-location services agreement with a regional cloud services provider to provide data centre capacity and related facilities in Malaysia. The contr ...
Singapore to upgrade PayNow, launch new finance institute to drive innovation
Tan Nai Lun - Move includes AI training for 100,000 professionals, new measures to prepare sector for emerging technologies
MAS and ABS to enhance Singapore’s national instant payments infrastructure
The Edge Singapore - The Monetary Authority of Singapore (MAS) and the Association of Banks (ABS) will be exploring four areas of enhancements to Singapore’s national instant payments infrastructure as part of a PayNow Generation 2 (PayNow Gen2) study. “PayNow has been a remarkable success story. It has grown into a ...
Singapore to introduce new corporate structure for insurance; speed up approval of new fund types: DPM Gan
Tan Nai Lun - Initiatives are part of Republic’s push to build ‘trusted market infrastructure for Asia’s next phase’
Del Monte Pacific’s Q4 net profit sinks 76.9%
Ry-Anne Lim - The decline follows a US$703.5 million write-down from US unit collapse in FY2025
NTUC and IBF to upskill 100,000 finance professionals on AI
The Edge Singapore - The National Trades Union Congress (NTUC) and the Institute of Banking and Finance (IBF) are targeting to upskill up to 100,000 finance professionals in Singapore with artificial intelligence (AI) skills over the next three years. This will be done through IBF-accredited programmes by NTUC LearningH ...
MAS to establish Future of Finance Institute to drive adoption of new financial technologies
The Edge Singapore - The Monetary Authority of Singapore (MAS) says it will establish a Future of Finance Institute (FFI) to accelerate the adoption of new financial technologies and catalyse innovation in the financial sector, says Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who is also chai ...
DBS, OCBC, UOB, Nets to expand ATM, cash access network after years of rationalisation
Tan Nai Lun - Banks to also improve legacy planning, dementia support in new ageing playbook
Singapore’s key retail banks to help seniors plan well, age well and ease burden on loved ones: ABS
The Edge Singapore - Singapore’s key retail banks are coming together to help seniors plan well, age well and ease the burden on their loved ones, announced The Association of Banks in Singapore (ABS) on June 25. The initiatives come as Singapore crosses the threshold of being “super-aged” this year, with one in f ...
Complete text of carbonised Herculaneum scroll unlocked for first time
ROME, June 25 : Researchers using artificial intelligence and advanced imaging said on Thursday they had achieved the first complete reading of a closed Herculaneum scroll burnt by the eruption of Mount Vesuvius nearly 2,000 years ago.The breakthrough marks a major step toward deciphering hundreds o ...
IREIT Global’s fourth-largest tenant to terminate lease early, pays termination fee of €2.87 mil
Teo Zheng Long - IREIT Global (SGX: UD1U ) announced that Allianz, its fourth-largest tenant by revenue, is terminating its lease in advance. According to the manager, Allianz’s existing lease was supposed to run till May 31, 2029, but now is being terminated by Dec 31, 2027. As such, the REIT has entered into an ...
Kremlin demands explanation from Apple after Russian apps removed from App Store
MOSCOW, June 25 : The Kremlin demanded an explanation from Apple on Thursday after several Russian mobile apps related to the Russian internet company VK were deleted from the U.S. tech giant's App Store.VK, a state-controlled technology company, said in a statement that its applications were r ...
