Oaktree-backed ITG jumps in Nasdaq debut, signaling strong AI infrastructure demand
July 1 : ITG's shares rose 12.5 per cent in their Nasdaq debut on Wednesday, giving the Oaktree-backed digital infrastructure company a market value of $2.18 billion, as investors continued to back firms tied to the AI boom.The debut adds to signs that investor appetite for companies supporting ...
Fed's Warsh plans to harness better economic data within a year
SINTRA, Portugal, July 1 : Federal Reserve Chairman Kevin Warsh set an ambitious timeline on Wednesday for the U.S. central bank to "discover" and start relying on real-time economic data that's superior to what he described as problematic government reports."My aspiration is tha ...
Russia warns Apple of $52 million fine over alleged bias against local apps
MOSCOW, July 1 : Russia's anti-monopoly watchdog has issued a warning to iPhone maker Apple, urging the company to address what it described as discriminatory practices against Russian search engines and software.The Federal Antimonopoly Service said Apple must ensure Russian software, includin ...
Ubisoft taps Amazon Games VP to lead Tom Clancy franchise
July 1 : French video games company Ubisoft said on Wednesday it recruited Amazon Games Vice President Christoph Hartmann to lead its "Creative House 2", the division that manages games in the Tom Clancy franchise, such as "Splinter Cell" and "The Division".Hartmann co- ...
Meta names Alex Schultz first chief data officer
July 1 : Meta said on Wednesday its chief marketing officer Alex Schultz will become the company's first chief data officer, to better manage AI analytics globally.The Facebook-parent also promoted its vice president of consumer marketing and growth, Denise Moreno, to marketing chief. • " ...
Google has exceeded $1 billion Africa investment target
JOHANNESBURG, July 1 : Google has exceeded a five-year target to invest $1 billion in Africa, it said on Wednesday, as it made public initiatives on infrastructure and development of AI to accelerate the continent's digital growth.They follow on from Google's launch of a cloud for the Joha ...
Together AI raises $800 million at $8.3 billion valuation
July 1 : Together AI on Wednesday said it has raised $800 million in a funding round led by Aramco Ventures, more than doubling the artificial intelligence startup's valuation to $8.3 billion.Founded in 2022, the startup's platform lets companies train and run AI workloads on open models s ...
Portugal launches first open-source AI model, joining Europe's sovereignty push
LISBON, July 1 : Portugal launched on Wednesday its first open-source artificial intelligence model, joining a growing push across Europe for greater AI sovereignty and reduced reliance on U.S. providers.The move follows similar initiatives in other European countries, including France and Germany, ...
Toyota US second-quarter sales up 1%
July 1 : Japan's Toyota reported a 1.1 per cent rise in U.S. sales during the second quarter, helped by demand from its hybrid models and affordable cars. The automaker reported sales of 673,971 units, compared with 666,469 units a year ago.
Analysis:AI hopes and fears dominate global central bank meet
SINTRA, Portugal, July 1 : Seeping into just about every conversation at this week's meeting of the world's top central bankers was one big unknown: how artificial intelligence will impact the world economy and therefore their mandate to ensure financial stability.The consensus of those di ...
Meta is building a cloud business to sell excess AI computing power
It will run the data centres and chips that power the models and charge developers to access them
Airlines’ carbon offsetting scheme is at least a US$1.6 billion opportunity for Asean: report
Janice Lim - The opportunity set could go up to US$8.5 billion
Tuan Sing’s CEO and property tycoon Koh Wee Meng in married deal involving 65.83 mil shares
Teo Zheng Long - Both property tycoon Koh Wee Meng and Tuan Sing Holdings’ CEO, William Liem, recently entered into a married trade and settlement of the trade took place on June 30. According to the SGX filing dated July 1, Koh sold 65.83 million shares in Tuan Sing to Greenpark Investment Pte Ltd, which Liem is ...
Sony to end production of physical PlayStation discs in 2028
The company becomes the first major console maker to fully abandon physical media
Sony to end discs for new PlayStation releases as gaming shifts online
July 1 : Sony said on Wednesday it will stop producing physical discs for all new games released on PlayStation consoles from January 2028, marking a full shift to digital distribution as consumer purchases continue to move online.Digital downloads accounted for about 80 per cent of Sony's full ...
Wall St slips at open as US-Iran tensions cloud start to second half
[NEW YORK] Wall Street’s main indexes opened lower on Wednesday (Jul 1) as fresh US-Iran tensions cast doubt over peace in the...
Cigna invests $100 million in new AI-powered specialty pharmacy program
July 1 : Cigna said on Wednesday its health services unit Evernorth has launched a new AI-powered specialty pharmacy program to reduce the time it takes to process prescriptions and improve customer service. The program, called Pharmacy Forward, is supported by a $100 million investment through 2028 ...
Samudera Shipping acquires DBS property holding company Crest10 for S$21 million
Elysia Tan - It calls this a chance to own a strategically located commercial premises for its own use and/or for investment
Meta building cloud business to sell excess AI capacity, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday, as tech giants seek returns on costly AI investments amid worries about overspending.The plans are still in development and it’s possible the strategy could change, the ...
Meta to sell excess AI computing capacity via cloud business, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday citing people familiar with the matter.Shares of the company were up more than 6 per cent in premarket trading. Reuters could not independently verify the report.
Koh Brothers Eco Engineering gets in-principle approval to move to SGX mainboard
Elysia Tan - The proposed transfer is expected to boost group’s visibility, give it access to wider investor base
FactSet tops quarterly profit estimates on steady demand for data, analytics services
July 1 : Financial data firm FactSet reported third-quarter profit above Wall Street estimates on Wednesday, buoyed by growth in subscriptions.Geopolitical uncertainty owing to the U.S.-Israeli war with Iran has rattled global markets, boosting demand for FactSet's data and analytics services a ...
Micron, GM sign semiconductor supply agreement for vehicles
July 1 : Micron Technology and General Motors have signed a supply agreement for memory and storage platforms used in vehicle production, the companies said on Wednesday. The agreement comes at a time when automakers are looking to bolster their semiconductor supply chains to help with growing compu ...
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
Elysia Tan - Investors will be able to buy single units of instruments priced above S$100 when the change kicks in
Temasek-backed Foundation Healthcare seeks to raise S$242 million in mainboard IPO
Chloe Lim - Offering comprises nearly 162.6 million shares at S$0.76 apiece
BYD’s sales rise for second month, buoyed by exports
Its overseas sales helped cushion weakness in China
Dollar bulls gain ground even as most FX strategists still expect weakness: Reuters poll
BENGALURU, July 1 : The U.S. dollar’s recent rebound will fade in coming months as cooling oil prices temper inflation fears and Federal Reserve rate hike bets, a majority of FX strategists said in a Reuters poll, though a sizable minority say the strength is here to stay. A brief respite from the ...
UOB, quantum technologies centre partner to explore quantum computing for derivatives valuation
Elysia Tan - Large-scale simulation methods are being used currently but they can be time and resource-intensive
Singapore’s BDx says open to an IPO as AI boom fuels Asia expansion
It is looking at expansion opportunities across Apac, broadly within a five-hour flight radius of Singapore
Swedish court orders Google to pay $1.5 billion to Klarna in antitrust damages
STOCKHOLM, July 1 : A Swedish court on Wednesday ordered Alphabet's Google to pay about $1.5 billion in antitrust damages to PriceRunner, the price comparison business owned by payments platform Klarna.The award, equivalent to around 14.3 billion Swedish crowns, comes amid growing scrutiny of U ...
Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
STOCKHOLM, July 1 : A Swedish court said on Wednesday Alphabet's Google is to pay the equivalent of around 14.3 billion Swedish crowns ($1.5 billion) in antitrust damages to Klarna's price comparison company PriceRunner. "PriceRunner is considered to have suffered damage as a result o ...
SGX to implement post-trade custody model from mid-July; lower board lot sizes in early October
Felicia Tan - Following public consultations on initiatives such as the post-trade custody model and reducing board lot sizes for certain stocks, the Singapore Exchange (SGX) announced, on July 1, that it will allow depository agents to hold SGX-listed securities on behalf of clients in omnibus broker custody acc ...
Goldman flags oil surplus even as nations rebuild stockpiles
Crossings through Hormuz have picked up despite attacks on two vessels in recent days
Singapore stocks fall as investors await Fed chair comments; STI down 0.2%
ST Engineering leads the gainers on the blue-chip index
