Exclusive-Meta planning sweeping layoffs as AI costs mount
NEW YORK/SAN FRANCISCO, March 13 : Meta is planning sweeping layoffs that could affect 20 per cent or more of the company, three sources familiar with the matter told Reuters, as Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about ...
Meta planning sweeping layoffs as AI costs mount
If Meta settles on the 20 per cent figure, the layoffs will be its most significant since a restructuring in late 2022 and early 2023 that it dubbed the "year of efficiency".
Impact of higher oil prices on Malaysians, the government and the country
Tong Kooi Ong + Asia Analytica - “We will try to control the effects of the Iranian conflict, including for RON95, which is RM1.99 per litre … We can still hold off for one or two months …” This statement from Prime Minister Datuk Seri Anwar Ibrahim must surely be worrying, given that affordability is front and centre for m ...
Why broad-based consumption tax, instead of higher taxes, is good for democracy and capitalism
Tong Kooi Ong + Asia Analytica - A picture speaks a thousand words. We begin this article with Charts 1 and 2, which underscore two indisputable facts. One, public operating expenditure (opex) is eating up the entire government tax revenue annually — and has been for the past 15 years. With little left over, it means that develop ...
Apple MacBook Neo emerges as company’s most repairable laptop in more than a decade
SAN FRANCISCO, March 13 : Apple's MacBook Neo, the laptop it announced last week that starts at $499 for students, is the most repairable laptop the company has released since 2014, according to an analysis released Friday by iFixit.iFixit publishes repair guides and sells parts and tools for c ...
Digg cuts jobs after facing AI bot surge
March 13 : Digg is laying off staff citing "brutal reality" in the current digital environment and a surge in artificial intelligence-driven bot activity, more than a year after the once-popular content aggregator announced its comeback.CEO Justin Mezzell said in a blog post on Friday that ...
Trump administration set to receive $10 billion fee for brokering TikTok deal, WSJ reports
March 13 : President Donald Trump's administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok's U.S. business, the Wall Street Journal reported on Friday.
Commentary: The White House's oil-restraint toolbox is empty
Despite President Donald Trump’s blustering that America benefits when oil prices surge, crunch time is fast approaching for both the war and the energy market, says Javier Blas for Bloomberg Opinion.
US Commerce Department withdraws planned rule on AI chip exports, government website shows
March 13 : The U.S. Department of Commerce on Friday withdrew its planned rule on AI chip exports, according to a government website. A draft of the rule, expected to govern global access to AI chips, had been sent to other agencies for feedback in late February. The posting provided no reason for t ...
Uber co-founder Kalanick launches Atoms in specialized robotics push
March 13 : Travis Kalanick, the co-founder and former chief executive of Uber, on Friday launched his startup, Atoms, focused on specialized industrial robotics designed to automate tasks in the mining, transport and food sectors.Kalanick is betting that task-specific machines are the key to improvi ...
Adobe agrees to pay $150 million to resolve alleged violations of online shopper law
March 13 : The U.S. Justice Department said on Friday that Adobe Inc has agreed to a $150 million settlement and an injunction to resolve allegations that the software firm's subscription practices violated the Restore Online Shoppers' Confidence Act.
Italy to meet Pirelli and its investors over Chinese control spat, sources say
MILAN, March 13 : Italian government officials will meet on Monday with representatives from Pirelli and of its two main investors as part of efforts to address a spat over Chinese influence on the tyremaker, two sources said.Pirelli's two largest shareholders, Chinese state-owned Sinochem with ...
Europe takes first step to banning AI-generated child sexual abuse images
BRUSSELS, March 13 : Europe on Friday took the first step towards outlawing artificial intelligence practices which generate child sexual abuse material after EU governments proposed to add this provision to the bloc's landmark AI rules adopted two years ago.Governments and regulators from Euro ...
Exclusive-SpaceX taps Gibson Dunn and Davis Polk & Wardwell as legal advisors on blockbuster IPO, sources say
March 13 : SpaceX and the banks underwriting its blockbuster IPO have chosen two law firms to provide legal advice on the deal, one of the first concrete steps companies take when preparing a public listing, two people familiar with the plans said. Elon Musk's rocket-and-satellite company has h ...
Win for Amazon as Luxembourg court scraps record $854 million privacy fine
BRUSSELS, March 13 : Amazon on Friday won its appeal against a record 746-million-euro ($854.4 million) fine imposed by Luxembourg’s privacy regulator, after a court found the watchdog had not properly carried out its analysis and must reassess the case.The Luxembourg National Commission for Data ...
Musk ousts more xAI founders as AI coding effort falters, FT reports
March 13 : Elon Musk has triggered a fresh wave of job cuts at his AI firm xAI, with more co-founders pushed out amid his dissatisfaction with the underperformance of the startup's coding division, the Financial Times reported on Friday.Musk last month overhauled the management of xAI, ahead of ...
Cerebras Systems, Amazon strike deal to offer Cerebras AI chips on Amazon's cloud
SAN FRANCISCO, March 13 : Amazon.com and Cerebras Systems on Friday said they have reached a deal to combine the two companies' computing chips in a new service aimed at speeding up chatbots, coding tools and other artificial intelligence services.Valued at $23.1 billion, Cerebras is a chip sta ...
Malaysia’s IJM board recommends rejection of Sunway’s ‘not fair and not reasonable’ takeover offer
Derryn Wong - Independent adviser M&A Securities says the offer price represents a 46.1-51.4% discount to IJM shares’ estimated value
Mercedes in early talks with Geely to deepen ties, Bloomberg reports
March 13 : Mercedes-Benz has held preliminary talks with Chinese automaker Geely on expanding ties between the companies as the German automaker looks to strengthen vehicle development in its largest market, Bloomberg News reported on Friday, citing people familiar with the discussions. Reuters coul ...
Dinosaur fossils in Brazil reveal new giant species
SAO PAULO, March 13 : Brazilian scientists have identified a new species of giant dinosaur with ties to a similar animal found in Spain, reinforcing knowledge that land routes once connected parts of South America, Africa and Europe about 120 million years ago.Named Dasosaurus tocantinensis, the spe ...
Demand for analysts grows as equities market gains momentum: industry players
Ranamita Chakraborty - The hiring push comes as regulatory initiatives are rolled out to boost coverage of small and mid-cap stocks
Stocks slip, dollar strong as Iran conflict pushes oil prices higher
BOSTON/LONDON, March 13 : Stocks fell and the U.S. dollar strengthened on Friday as uncertainty over the Iran war continued to disrupt energy supplies, heightening concerns over fuel prices and interest rates.The price of oil crossed $100 per barrel even as an Indian tanker sailed out of the Strait ...
Stocks dip, dollar strong as Iran conflict keeps oil prices high
BOSTON/LONDON, March 13 : Global stocks fell and oil prices stayed high on Friday as uncertainty over the Iran war continued to disrupt energy supplies, heightening concerns over fuel inflation and interest rates.The price of oil hovered around $100 per barrel even as an Indian tanker sailed out of ...
Stocks mixed, dollar up as Iran conflict keeps oil prices high
BOSTON/LONDON, March 13 : Global stocks were mixed and oil prices stayed elevated as uncertainty over the Iran war continues to disrupt energy supplies, driving concerns over fuel inflation and interest rates.The price of oil hovered around $100 per barrel even as an Indian tanker sailed out of the ...
Stocks rise on lower oil prices, though Iran conflict clouds outlook
BOSTON/LONDON, March 13 : Stocks rose on Friday after recent heavy selling, helped by lower oil prices, although uncertainty over the Iran war continues to disrupt energy supplies which is driving concerns over fuel inflation and interest rates.The price of oil fell below $100 per barrel, as an Indi ...
Wall St opens mixed as investors weigh data, Middle East war
[NEW YORK] Wall Street’s main stock indexes opened mixed on Friday (Mar 13), after sharp losses in the previous session, while investors...
No significant changes in vessel arrivals; Singapore has adequate marine fuel, says MPA
Derryn Wong - The authority’s responses are to queries on pre-emptive actions it is taking to address possible congestion, shortages
Didi swings back to a loss in Q4 after revving up global expansion
Its revenue is up by more than 10%, reflecting growth in newer international markets including Brazil and Mexico
Adobe reaches $150 million settlement of US lawsuit over termination fees, subscription cancellations
March 13 : Adobe reached a $150 million settlement to resolve a U.S. government lawsuit accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees and making it difficult to cancel subscriptions, the Department of Justice said on Friday.The accord requires Ado ...
Adobe pays $75 million to settle US lawsuit over termination fees, subscription cancellations
March 13 : Adobe said on Friday it will pay $75 million to resolve a U.S. government lawsuit accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees and making it difficult to cancel subscriptions.The San Jose, California-based company said it will also pro ...
Adobe to pay $75 million to resolve US lawsuit over fees, subscription cancellations
March 13 : Adobe said on Friday it will pay $75 million to the U.S. government to resolve a lawsuit accusing the Photoshop and Acrobat maker of harming consumers by concealing hefty termination fees in its most popular subscription plan, and making it difficult to cancel subscriptions.The company sa ...
SIA, Lufthansa and other airlines add over 15 Singapore-Europe flights in March amid Iran war
Paul Nah SC - [SINGAPORE] Some airlines, including Singapore Airlines (SIA), Air France, British Airways and German national carrier Lufthansa will add more than 15 flights between...
Infini Capital says operations 'remain normal' after reports of Hong Kong regulatory probe
BEIJING, March 13 : Hong Kong-based hedge fund Infini Capital said on Friday that its "overall business and operations remain normal" and its investment management and decision-making processes "remain unaffected," following reports it was probed by authorities.Hong Kong regulato ...
Iran war unlikely to have prolonged impact on stock markets, analysts say
Staying invested in the stock market is likely the best strategy for investors amid volatility from the war in the Middle East, analysts said.
