US group sues Apple over Congo conflict minerals
DAKAR/LONDON :A U.S.-based advocacy group has filed a lawsuit in Washington accusing Apple of using minerals linked to conflict and human rights abuses in the Democratic Republic of Congo and Rwanda despite the iPhone maker's denials. International Rights Advocates (IRAdvocates) has previously ...
US: Wall Street opens higher as December Fed rate-cut bets grow
[NEW YORK] Wall Street’s main stock indexes opened higher on Wednesday (Nov 26), as investors parsed through a fresh batch of economic...
Wall Street opens higher as December Fed rate-cut bets grow
[NEW YORK] Wall Street’s main stock indexes opened higher on Wednesday (Nov 26), as investors parsed through a fresh batch of economic...
Grindr's two top shareholders scrap $3.46 billion take-private bid after board ends talks
Grindr's two largest shareholders said on Wednesday that they had withdrawn their proposed $3.46 billion offer to take the dating app private, shortly after the company ended talks over financing concerns.Ray Zage and James Lu, who together own more than 60 per cent of Grindr's outstanding ...
Grindr's majority shareholders scrap $3.46 billion take-private bid
Grindr's majority shareholders Ray Zage and James Lu have withdrawn their $3.46 billion offer to take the dating app private, the bidders said on Wednesday.
S&P cuts Tether stablecoin rating to 'weak' on disclosure gaps
PARIS :S&P Global downgraded its rating of Tether, the world's largest stablecoin on Wednesday, citing an increase in higher-risk assets in its reserves and "persistent gaps in disclosure".Tether said it "strongly disagrees with the characterization presented in the report&qu ...
Tether's stablecoin downgraded to 'weak' in S&P assessment
PARIS :S&P Global has downgraded its rating of the world's largest stablecoin, Tether, citing an increase in higher-risk assets in the cryptocurrency's reserves and "persistent gaps in disclosure", the ratings agency said on Wednesday.S&P in 2023 created a new scale from ...
Angermayer's Enhanced to list on Nasdaq in $1.2 billion SPAC deal
Sports technology firm Enhanced said on Wednesday it will go public in the U.S. through a merger with special purpose acquisition company A Paradise Acquisition Corp, in a deal valued at $1.2 billion.Blank-check firms are staging a comeback on Wall Street this year after a prolonged downturn, with s ...
Sports firm Enhanced to list on Nasdaq in $1.2 billion SPAC deal
Sports technology firm Enhanced said on Wednesday it would go public in the United States through a merger with special purpose acquisition company A Paradise Acquisition Corp, valuing it at $1.2 billion.Blank-check firms are staging a comeback on Wall Street this year after a prolonged downturn, wi ...
Enhanced to list on Nasdaq in $1.2 billion SPAC deal
Sports technology firm Enhanced said on Wednesday it would go public in the United States through a merger with special purpose acquisition company A Paradise Acquisition Corp, valuing it at $1.2 billion.Blank-check firms are staging a comeback on Wall Street this year after a prolonged downturn, wi ...
Chinese regulators block ByteDance from using Nvidia chips, The Information reports
The reported ban underscores Beijing’s efforts to reduce reliance on US technology
Global stocks to edge higher in 2026 but lag this year's strong run: Reuters Poll
BENGALURU :Most major global stock indexes should trade higher by the end of 2026 but will struggle to repeat this year's surprisingly strong performance, according to a Reuters poll of equity strategists, with over half expecting a correction in the coming months.In April when the White House ...
mm2 Asia gets 90-day extension to hold AGM; deadline is Jan 27Â
Jessie Lim - [SINGAPORE] Entertainment company mm2 Asia has obtained approval from the Accounting and Corporate Regulatory Authority (Acra) for an extension of time to...
Meta slams EU's 'aberrant' antitrust demands for data on Facebook
LUXEMBOURG :Meta Platforms on Wednesday hit out at EU antitrust regulators for what it said were "aberrant" requests for information during two investigations four years ago, underscoring the increasing pushback by companies against what they see as disproportionate regulatory demands.Meta ...
Li Auto adds to gloomy China EV outlook with revenue miss
In Q3, the company’s revenue falls by 36%, the worst drop since its US listing in 2020
Tesla flags low maintenance and fuel costs to woo Indian buyers
Gurugram, INDIA :Tesla's low running costs, including maintenance and fuel, can help Indian buyers to recoup about one-third of the Model Y's $67,000 price tag over four to five years, the company's India head said on Wednesday.Tesla entered India in July with its imported Model Y, pr ...
Allianz to cut up to 1,800 jobs due to AI advances
The jobs are set to be eliminated over the next 12 to 18 months
Trafigura accuses Gupta of weaving incoherent web to cover $600 million nickel fraud
LONDON :Trafigura lawyers said Prateek Gupta's allegations that the group concocted a secret scheme to swap expensive nickel for low-value metals were full of inconsistencies, as the Indian businessman gave evidence in a long-running fraud case on Wednesday. Switzerland-based commodity trader T ...
Trafigura lawyers claim Gupta had history of fraud before alleged $600 million nickel scam
LONDON :Trafigura lawyers accused Prateek Gupta of having had a history of fraudulent dealings before he allegedly organised a $600 million metals scam with the commodity group, as the Indian businessman gave evidence for the first time on Wednesday.Gupta acknowledged he was being investigated for f ...
Indonesia launches year-end spending with 30 trillion rupiah stimulus, aims for growth above 5.4%
Elisa Valenta - The key measures include food aid, expanded housing initiatives and nationwide travel discounts
Adecco says joint venture with Salesforce can help reduce AI bubble risks
The chief executive of Adecco said on Wednesday that its joint venture with Salesforce, named r.Potential, could help reduce the risk of an AI bubble by pushing companies into more concrete uses of the technology.The Swiss staffing group has already talked to 300 large clients who have expressed an ...
European Parliament agrees on resolution calling for minimum age of on social media
BRUSSELS :The European Parliament on Wednesday agreed on a resolution which calls for a default minimum age of 16 on social media to ensure "age-appropriate online engagement". According to a draft published in October, the legislation asked for "the establishment of a harmonised Euro ...
High Court judge upholds decision to award UOB S$17.7 million in Lippo Marina Collection lawsuitÂ
Jessie Lim - The bank had claimed up to S$92 million in damages, but Justice Aidan Xu says it ‘failed to mitigate losses fully’
IHH Healthcare’s Q3 net profit rises 15% to RM616 million
Chloe Lim - Revenue is up 16% at RM6.6 billion, on the back of strong performances from key markets Malaysia and India
EU Commission requests Shein to provide information on the sale of illegal products
BRUSSELS :The European Commission has requested Chinese online platform Shein to provide information on the sale of illegal products under the EU's Digital Services Act, it said in a statement on Wednesday.
Paris court: Hearing on request for Shein's suspension in France postponed to Dec. 5
PARIS :The hearing on the French government's request that Chinese online platform Shein be suspended in France for three months over sales of childlike sex dolls and banned weapons, has been postponed to December 5, a Paris court said on Wednesday.
As AI reshapes shopping, US retailers try to change how they're seen online
NEW YORK :Big retailers traditionally spend millions on attracting eyeballs for the holiday season. Now, they're looking to get noticed by something else - AI agents.Most of this holiday season's projected $253 billion in U.S. online sales will happen through website visits or standard o ...
Jumbo Group reports lower full year earnings of $8.7 mil, down 36.6% y-o-y due to higher operating costs
Nicole Lim - Jumbo Group has reported lower earnings of $8.7 million for the FY2025 ended Sept 30, down 36.6% y-o-y. For the full year, the group’s revenue declined marginally by 0.1% y-o-y to $190.3 million. The group says that its performance reflects overall stability despite a challenging operating environ ...
DBS and CGS maintain ‘buy’ call for Seatrium after FPU contract win
Lin Daoyi - Analysts from DBS and CGS International remain upbeat on Seatrium’s prospects after the offshore and marine player announced it won a second contract to build a floating production unit (FPU) for bp. With the Tiber FPU win, Seatrium’s has secured more than $2 billion in contracts for 2025. DBS†...
Daily Debrief: What Happened Today (Nov 26)
Stories you might have missed
Swire cuts dozens of jobs in rare layoffs as China economy slows
The move affects some 40 people in divisions including sustainable development, finance and risk management
China’s Didi Q3 revenue up 8.6% as costly overseas expansion accelerates
The company has accelerated overseas investment this year, notably expanding food delivery to additional cities
Reliance Industries, JV partners to invest $11 billion in India AI data capacity
A Reliance Industries joint venture will invest $11 billion over five years to develop 1 gigawatt of AI data capacity in the southern Indian state of Andhra Pradesh, the companies and the state's government said on Wednesday.Canadian multinational company Brookfield Corporation and U.S.-based r ...
India's Reliance Industries JV to invest $11 billion for data centre
A joint venture between India's Reliance Industries, Brookfield Corporation, and Digital Realty will invest $11 billion in the south Indian state of Andhra Pradesh to establish 1 gigawatt of AI data capacity, the state government and companies said on Wednesday.
