Coinbase buys Deribit in $2.9 billion deal to expand crypto options base
Coinbase, the largest publicly traded cryptocurrency exchange, said on Thursday it will buy derivatives exchange Deribit in a $2.9 billion deal to expand into the crypto options markets. The move underscores a push by crypto firms to widen their institutional investor base, while also catering to re ...
Rheinmetall, ICEYE in initial deal to make military satellites
FRANKFURT :Rheinmetall has agreed with Finland's ICEYE to form a joint venture to make military satellites, part of a drive to repurpose automotive factories to serve the booming defence sector instead.In a statement on Thursday, the defence contractor said it signed a memorandum of understandi ...
Alice & Bob to build Paris lab for quantum computing
JERUSALEM :French tech startup Alice & Bob said it was building a $50 million quantum computing laboratory in Paris to support the development of its products.The new lab will enable Alice & Bob’s next-generation quantum chip series - Lithium, Beryllium and Graphene. This development hub w ...
Cryptoverse: As markets question US exceptionalism, bitcoin starts to shine
It's late to the sell-USA party. But bitcoin is finally reclaiming its place as a big alternative for investors spooked by President Donald Trump's trade war and keen to dump U.S. stocks, Treasuries and the dollar. After an initial tumble to its lowest levels this year soon after Trump ann ...
Tinder parent Match cuts 13% of workforce, forecasts revenue above estimates
Match Group on Thursday forecast second-quarter revenue above Wall Street estimates and said it would reduce 13 per cent of its workforce to cut costs, as the Tinder parent plows ahead with its business revamp plan. Shares of the Dallas, Texas-based company rose 2.7 per cent in premarket trading.The ...
Amid trade tensions, businesses should look at new growth paths, says DBS CEO
Ms Tan Su Shan spoke about navigating the impact of US tariffs, the bank’s first-quarter results and how it is harnessing AI, in a wide-ranging interview with CNA’s Elizabeth Neo.
BOE cuts rates to 4.25% in three-way split as tariffs hit growth
Philip Aldrick / Bloomberg - The Bank of England cut interest rates by a quarter point to 4.25% as Donald Trump’s global trade war weighs on UK growth, in a decision that split senior officials into three groups and was made before the US President hinted at an imminent deal to lower tariffs on British exports. Five members o ...
Far East Orchard Q1 net profit more than doubles to S$17.3 million
Ranamita Chakraborty - Significant rise is driven by one-off gain of S$9.2 million from acquisition of additional stake in Woodlands Square
Asian banks see big boost to wealth business as currencies rally
[HONG KONG, SINGAPORE] A sharp rally in Asian currencies is set to boost demand for wealth and forex products as clients seek...
Bank of England cuts rates to 4.25% as it sees tariff hit to growth
The decision by the British central bank is its first since Trump announced wide-ranging tariffs
Warner Bros Discovery misses revenue estimates on box office weakness
Warner Bros Discovery missed first-quarter revenue estimates on Thursday, weighed down by a lack of big box office hits from its studio and weakness in its traditional TV business as consumers continued to abandon cable for streaming.Like others in the media business, Warner Bros Discovery is losing ...
Warner Bros Discovery moving towards splitting company, CNBC reports
Warner Bros Discovery is moving towards a potential breakup, CNBC reported on Thursday (May 8), as media companies explore options for their struggling cable TV businesses and sharpen focus on their faster-growing streaming and studios divisions. The company's shares surged more than 4 per cent ...
Shopify sees second-quarter revenue above estimates, profit view drags shares
Shopify forecast second-quarter revenue above Wall Street estimates on Thursday, signaling the e-commerce company was steadily pulling in sellers even as global trade uncertainty threatens to hit retail businesses. U.S.-listed shares of the company, however, dropped more than 6 per cent in premarket ...
Canada's Shopify sees second-quarter revenue above market estimates
Shopify forecast second-quarter revenue above Wall Street estimates on Thursday, signaling the e-commerce company was steadily pulling in sellers even as global trade uncertainty threatens to hit retail businesses. The Ontario, Canada-based company said it expects revenue to grow in the mid-twenties ...
Peloton raises 2025 revenue forecast, counts on video subscriber growth
Fitness company Peloton Interactive raised its 2025 revenue forecast on Thursday, banking on an increase in subscriptions for its instructional videos to offset slowing demand for its exercise equipment. Peloton, which makes equipment such as spin bikes and treadmills, has been pivoting away from ha ...
Peloton shares slide on bigger-than-expected Q3 loss
Peloton Interactive raised its 2025 revenue forecast on Thursday but reported a bigger third-quarter loss than expected as the fitness company struggles to recover from a post-pandemic slump, sending its shares down more than 14 per cent in morning trading. The pandemic-era favorite has been pivotin ...
Peloton posts bigger-than-expected Q3 loss on slow demand
Peloton Interactive raised its 2025 revenue forecast on Thursday but reported a bigger third-quarter loss than expected as the fitness company struggles to recover from a post-pandemic slump, sending its shares down 5 per cent before the bell. The pandemic-era favorite has been pivoting away from eq ...
Far East Orchard reports double earnings for 1QFY2025 of $17.3 mil from Woods Square acquisition
Nicole Lim - Far East Orchard has reported earnings of $17.3 million for 1QFY2025 ended March 31, 2025, more than double from the same period a year ago. Profit after tax for the period came in at $17.1 million for 1QFY2025, also double than that from a year ago. This is due to the acquisition of an additional 6 ...
ComfortDelGro’s subsidiary Vicom reports profit after tax of $7.52 mil for 1QFY2025 up 7.4% y-o-y
Nicole Lim - Vicom, a subsidiary of ComfortDelGro, has reported a profit after tax of $7.52 million for the 1QFY2025 ended March 31, 2025, up 7.4% y-o-y. The company, which is in the business of inspection and technical testing, reported a revenue of $33.3 million for 1QFY2025, up 18.9% y-o-y. This was because o ...
Baidu's Apollo teams with Car Inc to launch autonomous driving rental service
BEIJING :Chinese tech giant Baidu's smart driving unit Apollo said on Thursday that it would team up with local auto rental firm Car Inc to launch a "first-of-its-kind" autonomous driving rental service.Under an agreement signed in Beijing on Thursday, the two companies will "joi ...
Daily Debrief: What Happened Today (May 8)
Stories you might have missed
Exclusive-DOGE-led software revamp to speed US job cuts even as Musk steps back
WASHINGTON :The federal human resources agency at the heart of billionaire Elon Musk's efforts to slash the federal workforce is poised to roll out software to speed layoffs across the U.S. government, two people familiar with the matter told Reuters.The software could turbo-charge the rapid-fi ...
DOGE-led software revamp to speed US job cuts even as Musk steps back
WASHINGTON: The federal human resources agency at the heart of billionaire Elon Musk's efforts to slash the federal workforce is poised to roll out software to speed layoffs across the US government, two peopl
Civmec reports net profit after tax of A$8 million for 3QFY2025 after reduced activities in third and fourth quarter
Nicole Lim - Engineering firm CivmecLimited has reported a net profit after tax of A$8 million ($6.66 million) for the 3QFY2025 ended March 31, 2025, down from the A$17.1 million reported in the same period a year ago. For the 9MFY2025, net profit after tax came in at $34.6 million. The company reported a revenu ...
BNB a “tortoise” in growth, but likely to offer steady returns: Standard Chartered
Michael Ryan Tan - Standard Chartered’s Global Head of Digital Assets Research, Geoff Kendrick, recently initiated formal coverage of Binance’s exchange token, BNB, in a May 6 report and he believes that BNB will be capable of reaching price level heights of US$1,275 ($1,652.78) from the roughly US$610 current pri ...
Analysts mixed on AIMS APAC REIT, most see strength in perpetual securities reset
Douglas Toh - Maybank Securities analyst Krishna Guha has kept his “hold” call on AIMS APAC REIT (AA REIT) but with a lower target price (TP) of $1.20 from $1.25 previously For the FY2025 ended March, the REIT reported a distribution per unit (DPU) of 9.60 cents, a 2.6% y-o-y improvement and a 4QFY2025 DPU of ...
Australia exchange operator proposes IPO reforms to revive listings
[SYDNEY] The Australian Securities Exchange (ASX) on Thursday (May 8) unveiled a series of proposed reforms aimed at enhancing the global appeal...
UOB’s CEO Wee Ee Cheong buys 100,000 shares for $34.475 apiece after 1QFY2025 results
Nicole Lim - Deputy chairman and CEO of United Overseas Bank(UOB) Wee Ee Cheong bought 100,000 ordinary shares for $34.475 per share via market transaction on May 7, after the bank reported a net profit of $1.49 billion for 1QFY2025. The bank’s first quarterly result for 2025 was relatively unchanged from the ...
Singapore stocks end lower as investors keep eye on tariff negotiations; STI down 0.4%
Tan Nai Lun - Venture Corp is top gainer on the index; Mapletree Logistics Trust ranks bottom
Market Focus Daily: Thursday, May 8, 2025
Asian markets mixed as tariff risks weigh on US Fed rate pause; Toyota sees US$1.3 billion profit hit in two months on...
US tariff uncertainty weighs on Infineon's revenue outlook
FRANKFURT :German chipmaker Infineon Technologies reported stable order intake on Thursday but lowered its full-year revenue outlook due to uncertainty over global tariff disputes.U.S. President Donald Trump has said tariffs on semiconductor chips would start at "25 per cent, or higher," r ...
Prosus expects annual e-commerce profit to beat $400 million guidance
JOHANNESBURG :Dutch technology investor Prosus NV expects adjusted profit at its e-commerce business to exceed its guidance and reach $435 million this fiscal year, Chief Executive Fabricio Bloisi said on Thursday.Last year, Prosus, majority-owned by South Africa's Naspers, estimated adjusted e ...
Rethinking philanthropy for a new global reality
Felicia Tan - With traditional sources of international aid in decline, charities and non-governmental organisations must rethink their funding strategies. An October 2024 article by Temasek Trust highlights a global funding gap in the trillions, estimating that between US$2.5 trillion ($3.24 trillion) and US$4 t ...
Shares lifted by trade deal hopes, dollar holds post-Fed gains
LONDON : World shares inched higher on Thursday buoyed by U.S. President Donald Trump’s promise of a first trade deal in his global tariff war – tipped to be Britain - while the dollar gained as markets pushed out the chance of near-term Fed rate cuts. Traders were also limbering up for an expec ...
