Some in BOJ saw need to raise rates soon, April meeting summary shows
TOKYO, May 12 : Some Bank of Japan policymakers in April saw the need to raise interest rates soon, with one signalling the chance of accelerating the pace of hikes if inflationary risks heightened, a summary of opinions at last month's meeting showed on Tuesday."It is quite possible the B ...
Japan March household spending falls 2.9% year/year
TOKYO, May 12 : Japanese household spending fell more than expected in March from a year earlier, government data showed on Tuesday, extending declines to a fourth straight month. • Consumer spending fell 2.9 per cent year-on-year, internal affairs ministry data showed, compared with the median ma ...
China investors bet Xi-Trump meet to extend trade-detente rally
Markets do remain vulnerable to any negative surprises, with a setback in talks likely to reverse sentiment and erode recent gains
Developer of education tool Canvas issues apology after hack
WASHINGTON, May 11 : The developer of Canvas, widely used by U.S. institutions for grades and class materials, issued an apology after a hack that blocked students from accessing the education tool and involved student data being stolen by a cybercriminal hacking group."I'll start where ...
Grab seeks AI edge in product development using agentic engineering, vibe coding
Benjamin Cher - Company aims to become a ‘cyborganisation’, where humans and artificial intelligence agents work together
OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
Jude Chan - The lender’s new wealth management committee could hold the key to a successful execution of its ‘Next Frontier’ pivot
Oil prices settle higher after Trump says Iran ceasefire ‘on life support’
He dismissed Teheran’s response to a US peace proposal as ‘stupid’
General Motors to cut hundreds of white collar workers in IT overhaul
The automaker has also made broad cutbacks in its electric vehicle operations in response to a slowdown in demand
Wall Street inches to higher close, AI fervour edges out Iran impasse
Some market watchers believe the rally is about to run out of momentum
European shares muted as markets weigh US-Iran deadlock
The war has shuttered the Strait of Hormuz with soaring oil prices adding to concerns over the conflict’s impact on inflation and...
Ex-OpenAI exec Sutskever says he spent a year gathering proof of alleged Altman dishonesty
May 11 : Former OpenAI chief scientist Ilya Sutskever testified on Monday that he spent about a year gathering evidence for the ChatGPT maker's board that CEO Sam Altman had displayed a "consistent pattern of lying."During his testimony in a legal fight between OpenAI and Elon Musk, t ...
Former OpenAI executive Sutskever discloses nearly $7 billion stake in AI firm
May 11 : Former OpenAI Chief Scientist Ilya Sutskever said on Monday his ownership stake in the artificial intelligence startup is worth about $7 billion, as he testified in a legal fight between Elon Musk and OpenAI.• The trial could determine the future of OpenAI, which spearheaded widespread us ...
Microsoft, Google, xAI security test details deleted from US government website
WASHINGTON, May 11 : The U.S. Commerce Department removed details from its website about its agreement with Google, xAI and Microsoft to test their artificial intelligence models for security vulnerabilities, according to a Reuters review of the agency's site.The link that previously led to the ...
Freeport says Grasberg recovery not delayed until 2028, stands by 2027 forecast
May 11 : Freeport-McMoRan said on Monday that it still expects Indonesia's Grasberg copper and gold mine to resume full production by the end of 2027, confirming a plan outlined last month and pushing back on reports that the restart could drag into 2028."PT Freeport Indonesia's ramp- ...
Family of Florida mass shooting victim sues OpenAI in US court
“OpenAI knew this would happen. It’s happened before and it was only a matter of time before it happened again,” said the widow of a Florida State University shooting victim, as OpenAI denied any involvement of ChatGPT.
Netflix sued by Texas for allegedly spying on children, addicting users
May 11 : Netflix was sued on Monday by Texas Attorney General Ken Paxton, who accused the streaming company of spying on children and other consumers by collecting their data without consent, and designing its platform to be addictive.Texas said Netflix has for years falsely represented to consumers ...
Britain's bank regulator expects 'quite significant disruption' from latest AI models
LONDON, May 11 : The head of the Bank of England’s regulatory arm on Wednesday said it was “reasonable to expect quite significant disruption” to financial services from the latest AI models such as Anthropic’s Mythos and ChatGPT 5.5 Instant.Sam Woods, chief executive of the Prudential Regul ...
US stocks: Wall Street pauses after record run as US-Iran talks stall
WALL Street’s main indexes paused on Monday (May 11), after last week’s record-setting rally, as renewed worries over stalled US-Iran talks weighed...
California county sues Meta over scam ads
May 11 : California's Santa Clara County has sued Meta Platforms, alleging it has profited from Facebook and Instagram ads promoting scams in violation of California's false advertising and unfair business practices laws.The lawsuit – filed Monday in Santa Clara County Superior Court on ...
Litigation against OUE Reit independent director discontinued
Sharanya Pillai - The unitholder of Dasin Retail Trust who filed an originating claim against Tan Huay Lim in 2023 has withdrawn it
UK fintech Wise makes US trading debut with dual listing
Billionaire Peter Thiel, Silicon Valley’s Andreessen Horowitz and UK-based Baillie Gifford were among its early investors
SIA Engineering raises dividend as ‘robust’ demand drives H2 earnings up 20.9%
Sharanya Pillai - The Middle East conflict has, however, introduced supply chain disruptions and inflationary pressures
Fox Corp beats third-quarter revenue estimates on strong ad sales from news, sports
It reports revenue of US$3.99 billion, against analysts’ average estimate of US$3.82 billion
Stock market concentration - a feature, not a bug: McGeever
ORLANDO, Florida, May 11 : As the artificial intelligence boom accelerates, stock market concentration is reaching historic proportions – and not just in the U.S. where tech megacaps like Nvidia and Alphabet dominate. Increasingly, top-heavy indices are a feature of global equity markets, not a bu ...
SIA Engineering's FY2026 earnings up 21% to $168.9 mil
The Edge Singapore - SIA Engineering has reported earnings of $85.6 million for its 2HFY2026 ended March, up 20.9% y-o-y. This brings its full year earnings to $168.9 million, up 21%. Revenue in the same FY ended March was up 14.2% to $1.42 billion, thanks to "robust" demand for maintenance, repair and overhau ...
OpenAI creates new unit with $4 billion investment to aid corporate AI push
May 11 : OpenAI said on Monday it is setting up a new company with more than $4 billion in initial investment to help organizations build and deploy artificial intelligence systems, and will acquire an AI consulting firm, Tomoro, to quickly scale up the unit.After its early models saw strong resonan ...
Softbank's Son weighs up to $100 billion investment in France, Bloomberg News reports
May 11 : SoftBank Group Corp founder Masayoshi Son has held talks about unveiling a French AI data centre project and is weighing an investment of up to $100 billion in France, Bloomberg News reported on Monday, citing people familiar with the matter.
SoftBank's Son considers up to $100 billion investment in France, Bloomberg News reports
May 11 : SoftBank Group Corp founder Masayoshi Son is considering an investment of up to $100 billion in France, including a multibillion-dollar project to build AI infrastructure in the European nation, Bloomberg News reported on Monday.Companies have been channeling billions into data centres to p ...
Mapletree acquires 96.8-acre site in New Jersey to build warehouses
The Edge Singapore - Mapletree Investments has acquired a 96.8-acre site in the US to build what it calls a best-in-class logistics facility. The cost was not disclosed. The development, at 370 Smithburg Road in Manalapan, New Jersey, will feature two warehouse buildings with individual footprints of 300,220 sq ft and 6 ...
Bessent’s unprecedented grasp on Japan policy tests Takaichi
His knowledge of Japan is “unprecedented” for a Treasury chief, according to Ken Weinstein
Isca panel urges firms to ditch boilerplate guidance, bridge trust gap
Meera Pathmanathan - Acknowledging uncertainties with the right assumptions can build credibility with investors
Shein accuses Temu of 'industrial scale' copyright breaches in UK legal battle
LONDON, May 11 : Online fast-fashion platform Shein accused Temu of copyright infringement "on an industrial scale", while Temu countered that Shein is using litigation to stifle competition, as a trial opened at London's High Court on Monday.The case is part of a global legal battle ...
Mapletree buys 39-ha site in New Jersey for logistics facility, in sixth US development project
Chong Xin Wei - The new development will be near key air cargo hubs and seaports, and comprise two warehouse buildings
Alphabet considers first yen bond sale to fund AI goals
TOKYO, May 11 : Alphabet plans to sell Japanese yen-denominated bonds for the first time, it disclosed in a filing on Monday, as technology giants tap debt markets to fund artificial intelligence infrastructure deployments.The Google parent did not disclose the size of the offering. The issuance is ...
