Ford weakens profit outlook amid price war, shares fall
FORD Motor said on Monday it expects to hit the lower end of its full-year profit guidance, dropping the company’s shares 5...
Oil falls 6% on reduced risk of wider Middle East war
OIL prices tumbled 6 per cent on Monday, or more than US$4 a barrel, after Saturday’s retaliatory strike by Israel against Iran’s...
McDonald’s sales slump after E coli outbreak spooks diners
MCDONALD’S sales plummeted following news of E coli infections linked to the chain’s Quarter Pounders.
Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers
Cadence Design Systems raised the midpoint of its annual profit forecast on Monday, betting on the boom in generative AI to drive demand for its software used to design complex chips that power those systems, sending its shares up 6.4 per cent in extended trading. The company, which supplies both so ...
Toyota, NTT to make $3.3 billion R&D investment for AI self-driving, Nikkei reports
Toyota Motor and Japan's Nippon Telegraph and Telephone will be investing 500 billion yen ($3.26 billion) in research and development to create artificial intelligence software to improve self-driving, Nikkei reported on Tuesday. ($1 = 153.2300 yen)
Exclusive-Cybersecurity firm Rapid7 fields buyout interest, sources say
NEW YORK :Rapid7, a cybersecurity firm with a market value of about $2.5 billion, is exploring options with its investment bankers after attracting acquisition interest from buyout firms, according to people familiar with the matter. The Boston-based company, which is being advised by Goldman Sachs ...
CrowdStrike, Delta sue each other over flight disruptions
WASHINGTON : Cybersecurity firm CrowdStrike said on Monday it sued Delta Air Lines in U.S. District Court in Georgia after a faulty software update prompted a global outage in July.The July 19 incident led to worldwide flight cancellations and hit industries including banks, healthcare, media compan ...
Apple rolls out AI platform alongside new iMac with M4 chip
APPLE, heralding a “new era” for its devices, started rolling out its first set of Apple Intelligence features and introduced a new...
Meta develops own AI search engine to cut reliance on Google, Bing: the Information
META Platforms is working on an artificial intelligence-based search engine as it looks to reduce dependence on Alphabet’s Google and Microsoft’s Bing,...
Meta builds AI search engine to cut Google, Bing reliance, the Information reports
:Meta Platforms is working on an artificial intelligence-based search engine as it looks to reduce dependence on Alphabet's Google and Microsoft's Bing, the Information reported on Monday.The AI search engine segment is heating up with ChatGPT-maker OpenAI, Google and Microsoft all vying f ...
Startup Untether launches AI chips
SAN FRANCISCO : Startup Untether launched an artificial intelligence chip on Monday that aims to power AI applications in cars, agricultural devices and other edge-case scenarios, the company said.The flagship AI chips made by Nvidia and Advanced Micro Devices are designed to run inside of data cen ...
Forget China, Chanel exec warns of luxury fatigue risk
A SLOWDOWN in the key Chinese market is currently lashing the financial performance of luxury houses but a Chanel executive warned on...
US: Wall Street opens higher ahead of megacap earnings
Wall Street rose at the open on Monday (Oct 28), recovering some losses following a turbulent trading week, ahead of key corporate...
AT&T announces $1 billion fiber deal with Corning
AT&T said on Monday it had struck a $1 billion multi-year deal with Corning to buy fiber, cable, and connectivity solutions, as the U.S. telecom giant looks to expand its high-speed internet services.WHY IT'S IMPORTANTWith the U.S. wireless market facing a slowdown, telecom companies such a ...
Explainer-Volkswagen Law: the unique structure behind the German carmaker's labour clash
FRANKFURT/BERLIN : Volkswagen's plans to close plants in Germany and dissolve long-standing labour agreements with unions have put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years.Like other German conglomerates, the 87-year-old a ...
Universal Music Group partners with KLAY to develop ethical AI technology
Universal Music Group has partnered with Los Angeles-based AI music company KLAY Vision to develop artificial intelligence tools for the music industry in an ethical way, it said on Monday.The partnership is aimed at developing AI technology to "explore new opportunities and ethical solutions f ...
Analysts retain calls and TPs on Keppel after clarity on data centre business
Felicia Tan - Analysts have all kept their “add” and “buy” calls on Keppel Limited after the group issued an update for the 3QFY2024 ended Sept 30 on Oct 24. Morningstar has kept its “four star rating”. The analysts from CGS International (CGSI), Citi, Morningstar, PhillipCapital and UOB Kay Hian have ...
UK traders brace for Reeves to unveil £293 billion of debt sales
Bond traders expect the UK to present one of its biggest borrowing plans on record this week as Chancellor Rachel Reeves attempts...
Starhill Global REIT to divest office strata lots in Wisma Atria property
Ashley Lo - The manager of Starhill Global REIT P40U says the REIT has completed the divestment of its office strata lots located in a Wisma Atira property to an unrelated third party buyer, according to an Oct 29 release. The disposal of the property, which comprises approximately 7,653 sqf of net lettable a ...
Starhill Global REIT disposes of office strata lots in Wisma Atria property
Ashley Lo - The manager of Starhill Global REIT P40U says the REIT has completed the divestment of its office strata lots located in a Wisma Atira property to an unrelated third party buyer, according to an Oct 29 release. The disposal of the property, which comprises approximately 7,653 sqf of net lettable a ...
India's Tata Technologies posts third straight drop in profit as EV demand slows
India's Tata Technologies reported a drop in profit for the third consecutive quarter, hurt by slowing global demand for electric vehicles.Tata Technologies provides engineering and technology services to automobile, aero and heavy machinery makers. Indian EV market leader Tata Motors is its pa ...
Starhill Global Reit to
divest strata office
lots in Wisma Atria
Samuel Oh - STARHILL Global Real Estate Investment Trust (SGReit) is divesting the strata office lots that it owns at Wisma Atria for a cash...
AI startup Read announces new funding at $450 million valuation
Read AI, a productivity and AI automation startup, said on Monday it was valued at $450 million after a series B funding round led by Smash Capital.The company raised $50 million in the latest round, which also saw participation from existing investors Madrona and Goodwater Capital, six months after ...
Yen tumbles after Japan election; US dollar set for biggest monthly rise since 2022
THE yen hit three-month lows on Monday (Oct 28) as investors figured the loss of a parliamentary majority for Japan’s ruling coalition...
India’s Bharti Airtel posts bigger Q2 profit, boosted by higher tariffs
BHARTI Airtel reported an over two-fold rise in its second-quarter profit on Monday (Oct 28), as the telecom operator’s first tariff hike...
Petronas plans significant expansion in Indonesia, country head says
MALAYSIAN state energy company Petronas plans an “aggressive” expansion in Indonesia, which involves creating hub for its operations in East Java and...
Leader Environmental Technologies subsidiary enters JV with Innovamem Holdings
Ashley Lo - Leader Environmental Technologies says its subsidiary, NTi Memtech (NTi), has entered into a joint venture with Innovamem Holdings to undertake the business of high-performance membrane production. Under the agreement, both groups are expected to establish a joint venture company, NTi Technology. ...
Nanofilm Q3 revenue rises 10% to S$60 million on consumer business segment contributions
Tan Nai Lun - NANOFILM Technologies posted a 10 per cent rise in revenue to S$60 million for its third quarter ended Sep 30, 2024, from...
Nanofilm reports ebitda growth of 34% q-o-q in 3QFY2024
Ashley Lo - Nanofilm Technologies has reported an ebitda margin of above 28% in 3QFY2024 ended September, up from 19% recorded in 1HFY2024. Similarly, ebitda also saw a 34% q-o-q growth and 17% y-o-y growth within the same period. For 3QFY2024, the group recorded a revenue of $60 million, up by 10% y-o-y and ...
Japfa swings into the black with US$87.5 million net profit; declares one-off S$0.01 dividend per share
Tan Nai Lun - JAPFA swung into the black with a net profit of US$87.5 million for its first nine months ended Sep 30, 2024, compared...
Daily Debrief: What Happened Today (Oct 28)
Stories you might have missed
Japfa records 9MFY2024 patmi of US$87.5 mil, reversing from a loss in 9MFY2023
Ashley Lo - Agri-food company Japfa UD2 has maintained its profitability, recording a patmi of US$87.5 million ($202.3 million) for 9MFY2024 ended September, reversing from a loss of US$22.7 million in the same period last year. Core patmi without foreign exchange impact would have stood at US$90.5 million, ...
Japfa records 9MFY2024 patmi of US$153.4 mil, more than double from previous year
Ashley Lo - Agri-food company Japfa UD2 has maintained its profitability, recording a patmi of US$153.4 million ($202.3 million) for 9MFY2024 ended September, more than double of US$6 million in the same period last year. Core patmi without foreign exchange impact would have stood at US$90.5 million, while eb ...
Microsoft's AI demand under scrutiny as investors seek payday
Microsoft is expected to report its slowest quarterly revenue growth in a year on Wednesday, while investors await signs of AI demand amid growing worries about the slow payoff from hefty investments in the technology.The software giant is widely seen as the front-runner in the race to capitalize on ...