LG Energy Solution forecasts 77% operating profit fall in Q2 on weak EV demand
SEOUL, July 7 : South Korean battery maker LG Energy Solution said on Tuesday it expects April-June operating profit to fall 77 per cent to 113 billion won ($73.91 million), as sluggish electric vehicle (EV) demand continued to weigh on battery sales. That compared with an LSEG SmartEstimate forecas ...
LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand
SEOUL, July 7 : South Korean battery maker LG Energy Solution said on Tuesday it expects April-June operating profit to fall 77 per cent to 113 billion won ($73.91 million), as sluggish electric vehicle (EV) demand continued to weigh on battery sales. That compared with an LSEG SmartEstimate forecas ...
Uber CEO Dara Khosrowshahi steps down from Grab’s board
Shikhar Gupta - Uber’s economic interest in Grab is unchanged by this transition
When the disruptor gets disrupted: How Chinese open-source AI is eating its own industry
Chinese labs have flooded the market with models that are free to download, cheap to run and increasingly hard to dismiss as...
Europe’s central banks may come under political pressure, Panetta says
Central banks play a key role in determining governments’ borrowing costs
Japan real wages up for 5th month in May, slower due to inflation
TOKYO, July 7 : Japan's real wages rose 1.4 per cent in May from a year earlier to mark a fifth month of increases, although the growth rate slowed amid re-accelerating consumer inflation, government data showed on Tuesday.• Average nominal wages - or total cash earnings - rose 3.2 per cent t ...
Samsung profit surges past estimates on AI memory chip demand
Chipmakers are enjoying an unprecedented rise in demand for the high-bandwidth memory essential to AI accelerators
United Airlines must face lawsuit over ‘window seats’ that lack windows
Passengers said United failed to clearly disclose the missing windows during the booking process
Wall Street regulator should stick to quarterly reports, investor groups say
The US has required quarterly reports since 1970
MAS’ next decision may say more about growth than costs
Janice Heng - Inflation due to the Iran war might now be less of a factor than surprisingly robust expansion
ESR review of startup share scheme taxes should address employee liquidity challenge: observers
Low Youjin - Staff are often taxed before they can realise the value of their equity, weakening such ownership plans
Apple supplier Luxshare said to plan pricing Hong Kong listing at top, with Temasek and GIC as cornerstone investors
The components manufacturer has climbed more than 80% in Shenzhen over the past year, reaching a market value of US$71 billion
Samsung estimates 19-fold rise in Q2 operating profit, beating expectations
SEOUL, July 7 : Samsung Electronics on Tuesday forecast a 1,810 per cent jump in second-quarter operating profit from a year earlier, as AI-driven demand continued to lift memory chip prices. The world's largest memory chipmaker estimated April-June operating profit at 89.4 trillion won ($58.44 ...
Samsung forecasts record quarterly profit, beating estimates on AI memory demand
SEOUL: Samsung Electronics on Tuesday (Jul 7) forecast a 19-fold jump in second-quarter operating profit from a year earlier, its third consecutive quarter of record operating profit, as artificial intelligence-driven demand continued to boost memory chip prices.The world's largest memory chipm ...
Oil climbs as fresh tanker strike highlights risks around Hormuz
The UAE raised its crude output to near record highs in June
Oil prices settle at pre-Iran war levels as crude output grows
The UAE raised its crude output to near record highs in June
Trump says he expects to host China’s Xi in US around Sep 24
A visit on that date in Washington would happen alongside the annual high-level meeting of the United Nations General Assembly
US stocks: S&P 500, Nasdaq close sharply higher as Broadcom rallies
SK Hynix is set to debut on the Nasdaq later this week
Intel-backed software company Syntiant files for US IPO
July 6 : Syntiant Corp, a semiconductor and AI software company focused on "physical AI", filed for a U.S. initial public offering on Monday, seeking to capitalize on investor enthusiasm for AI and computing.The listing is the latest in a string of AI-related IPOs this year, amid a broader ...
Semiconductor and software company Syntiant Corp files for US IPO
July 6 : Semiconductor and software company Syntiant Corp filed for an initial public offering in the United States on Monday.The listing is the latest in a string of AI-related IPOs this year, amid a broader revival in the U.S. IPO market as companies seek to capitalize on growing investor confiden ...
European shares retreat after hitting record high; easyJet surges on takeover offer
Industrial orders in the eurozone’s largest economy rise more than expected in May
Vista Equity, Quinti Capital offer to buy French adtech firm Criteo, sources say
July 6 : Vista Equity Partners and investment firm Quinti Capital have offered to acquire French advertising-technology company Criteo, two sources familiar with the matter said Monday.• The firms submitted an offer last week that valued Criteo at more than a 50 per cent premium to its recent shar ...
Toyota to build $3.6 billion Texas plant, shift some truck production from Mexico
WASHINGTON, July 6 : Toyota Motor Corp said on Monday it will build a new $3.6 billion auto plant in Texas and shift some truck production to the United States from Mexico.The Japanese automaker said the new 2.5-million-square-foot building will be located on its San Antonio manufacturing campus and ...
Exclusive-US cyber agency is using Anthropic's Mythos to audit government code, sources say
WASHINGTON, July 6 : The U.S. cyber defense agency CISA is using Anthropic's AI model Mythos to audit government software, three people familiar with the matter said on Monday, another sign of government enthusiasm for adopting the AI startup's tools even as the company navigates an ongoin ...
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 ...
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 ...
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 ...
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 ...
