Martian meteorite sells for record $5.3 million at Sotheby's
NEW YORK :A 54-pound (24.5-kg) Martian meteorite that is the largest known piece of Mars found on Earth has sold for $5.3 million at Sotheby's, setting a new auction record for a meteorite.The auction on Wednesday for the rock known as NWA 16788 sparked a 15-minute bidding war between online an ...
Las Vegas Sands breaks ground on US$8 bil Marina Bay Sands expansion
Las Vegas Sands (LVS) has broken ground on a new US$8 billion ($10.27 billion) ultra-luxury resort beside Marina Bay Sands (MBS), launching what Prime Minister and Minister for Finance Lawrence Wong calls “the next chapter for Marina Bay” and a key development in Singapore’s long-term urban an ...
Singapore’s AUM grows 12% to $6.07 tril in 2024; net inflows rebound with 50% y-o-y growth
Samantha Chiew - Singapore’s asset management industry recorded assets under management (AUM) of $6.07 trillion in 2024, up 12% from the $5.41 trillion in 2023, according to the latest Singapore Asset Management Survey, released on July 15 by the Monetary Authority of Singapore (MAS). This increase was driven by b ...
IFSAM launches second private credit fund as market gains steam
Samantha Chiew - Private credit is rapidly emerging as a core allocation for investors pursuing yield and portfolio stability, amid ongoing volatility in traditional markets and growing capital constraints on banking systems worldwide. In certain markets of Asia Pacific, where non-bank lending remains significantly ...
Equities and dollar rise with encouragement from economic data and earnings
NEW YORK/LONDON :MSCI's global equity index advanced on Thursday while the dollar rose as investors were encouraged by the latest crop of economic data and earnings reports while oil futures rose on supply concerns amid Middle East attacks. Data on jobless claims showed that the number of A ...
Equities and dollar rise with encouragement from economic data and earnings reports
NEW YORK/LONDON :MSCI's global equity index was advancing on Thursday while the dollar rose as investors were encouraged by the latest crop of economic data and earnings reports. Data on jobless claims showed that the number of Americans filing new applications for unemployment benefits fe ...
Amazon’s AWS cloud computing unit cuts jobs
[SAN FRANCISCO] Amazon cut jobs in its Amazon Web Services cloud computing unit on Thursday (Jul 17), a spokesperson confirmed following a...
Exclusive-Amazon's AWS cloud computing unit cuts at least hundreds of jobs, sources say
SAN FRANCISCO :Amazon cut at least hundreds of jobs in its Amazon Web Services cloud computing unit on Thursday, two sources said, just a month after CEO Andy Jassy warned that adoption of generative AI tools would trigger a workforce reduction.An Amazon spokesperson confirmed it had cut jobs but ...
Exclusive-Amazon's AWS cloud computing unit cuts jobs
SAN FRANCISCO :Amazon cut jobs in its Amazon Web Services cloud computing unit on Thursday, a spokesperson confirmed following a Reuters inquiry.“We’ve made the difficult business decision to eliminate some roles across particular teams in AWS,” the spokesperson said in an emailed statement. ...
Amazon's AWS cloud computing unit cuts at least hundreds of jobs: Sources
SAN FRANCISCO: Amazon cut at least hundreds of jobs in its Amazon Web Services cloud computing unit on Thursday (Jul 17), two sources said, just a month after CEO Andy Jassy warned that adoption of generative AI tools would trigger a workforce reduction. An Amazon spokesperson confirmed it had cut j ...
Waymo expands coverage in Austin, Texas, as robotaxi competition heats up
Alphabet's Waymo is expanding its service in Austin, Texas, to 90 square miles from 37 square miles earlier, the software giant's self-driving unit said on Thursday, seeking to protect its top position in the city from rivals such as Tesla.Waymo, which has over 100 vehicles on the Uber pla ...
US solar panel makers seek tariffs on imports from Indonesia, India, Laos
A group of U.S. solar panel manufacturers asked the Commerce Department to impose anti-dumping and countervailing duties on imports from Indonesia, India and Laos, according to documents on an agency web site.The petition is the latest effort by the small U.S. solar manufacturing industry to seek tr ...
US solar panel makers seek tariffs on imports from Indonesia, India and Laos
A group of U.S. solar panel manufacturers asked the Commerce Department to impose anti-dumping and countervailing duties on imports from Indonesia, India and Laos, according to documents on an agency we site.The petition is the latest effort by the small U.S. solar manufacturing industry to seek tra ...
US authors suing Anthropic can band together in copyright class action, judge rules
A California federal judge ruled on Thursday that three authors suing artificial intelligence startup Anthropic for copyright infringement can represent writers nationwide whose books Anthropic allegedly pirated to train its AI system.U.S. District Judge William Alsup said the authors can bring a cl ...
Russia's Sberbank offers custody services for Russian crypto assets
MOSCOW :Russia's largest lender Sberbank wants to offer custody services for Russian cryptocurrency assets, the state-owned bank said on Thursday, seeking a leading role in Russia's development of digital assets. Russia's central bank has softened its opposition to cryptocurrencies, b ...
China’s WeRide secures LTA approval to run driverless bus without safety officer in Sentosa
Sharanya Pillai - The green light comes as Singapore eyes greater deployment of AVs, collaboration with companies
US SEC, Musk seek more time for billionaire to respond to SEC's lawsuit
NEW YORK :The U.S. Securities and Exchange Commission and Elon Musk have again agreed to give the billionaire more time to respond to the regulator's civil lawsuit accusing him of waiting too long in 2022 to reveal his large stake in Twitter.In a filing in federal court in Washington, D.C., the ...
US House poised to send stablecoin bill to Trump after 'crypto week' drama
The U.S. House of Representatives appeared poised to pass key crypto legislation on Thursday, including the creation of a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, after two days of fraught negotiations.House lawmakers in Washington were due to convene o ...
US House passes stablecoin legislation, sending bill to Trump
The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump, who is expected to sign it into law. The vote marks a watershed moment for the digital asset in ...
C-REIT market cap overtakes Hong Kong to be top 3 in Asia, says C&W
The Edge Singapore - China and India’s REIT markets showed robust growth in 2024 and are expected to continue to attract strong investor interest this year, according to Cushman & Wakefield’s "Asia REIT Market Insight 2024-2025" report. The annual report revealed that the C-REIT market achieved a remar ...
Uber to invest US$300 million in EV maker Lucid as part of robotaxi deal
Over six years starting in 2026, Uber will acquire and deploy over 20,000 Lucid Gravity SUVs
US: Wall St opens marginally higher as markets weigh data
[NEW YORK] Wall Street opened largely steady on Thursday (Jul 17), as investors mulled over fresh economic data, while upbeat results from...
Tariff risk nudged more firms closer to default, Moody’s says
Rachel Graf / Bloomberg - The number of companies at the greatest risk of defaulting are at an 11-month high, as uncertainty around US trade and tariffs worsened credit conditions, according to a Moody’s Ratings report. In the second quarter, 16 companies were added to the cohort of businesses with the highest default risk ...
The old Thong Chai Building, a national monument, set to change hands
Kalpana Rashiwala - An entity linked to Clifton Partners is understood to be buying the property at an all-in cost of S$45 million to S$50...
Meta investors, Zuckerberg reach settlement to end trial over Facebook privacy litigation
WILMINGTON, Delaware :A lawyer for Meta Platforms shareholders who were suing Mark Zuckerberg and other company leaders told a Delaware judge on Thursday that the parties had reached a settlement agreement, ending a $8 billion trial over Facebook’s user privacy violations.
US tariffs risks turning global trade into 'arm-wrestling match', Balakrishnan says
Weilun Soon / Bloomberg - Global trade risks becoming a “bilateral arm-wrestling match” following President Donald Trump’s approach of slapping tariffs on its partners, according to Singapore’s Foreign Minister Vivian Balakrishnan. Such an imposition may trigger a strong temptation from the other side to impose recip ...
Brokers’ Digest: OCBC, Sembcorp, Genting Singapore, Frencken, ESR-REIT
The Edge Singapore - Oversea-Chinese Banking Corp Price target: Citi Research ‘neutral’ $15.80 OCBC’s change of CEO earlier than expected Oversea-Chinese Banking Corporation (OCBC) group CEO Helen Wong’s surprise retirement announcement last week “could have come in earlier than investors’ expectations”, s ...
Crypto firm Bitcoin Standard to go public in deal with Cantor-backed SPAC
Crypto firm Bitcoin Standard Treasury Company said on Thursday it is aiming to list on the Nasdaq through a merger with a Cantor Fitzgerald-backed blank check vehicle. The company will merge with Cantor Equity Partners I, a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald, whic ...
Crypto firm Bitcoin Standard to go public through deal with Cantor-backed SPAC
Crypto firm Bitcoin Standard Treasury Company is aiming to list on the Nasdaq through a merger with a Cantor Fitzgerald-backed blank check vehicle, the company said on Thursday. The move comes roughly four months after Cantor teamed up with Tether and Softbank for a $3.6 billion crypto venture to bu ...
China’s most expensive car brand, Hongqi, debuts in Singapore with Eurokars as dealer
Derryn Wong - First model will be launched in 2026; new showroom at 19 Leng Kee Road
Food Empire’s subsidiary inks MOU with Santan Food Services to develop and launch ready-to-drink beverages
Nicole Lim - Food Empire Holdings’ subsidiary Empire International and Santan Food Services have signed a memorandum of understanding to develop and launch a range of ready-to-drink beverages. The collaboration will begin with the launch of a Vietnamese iced coffee product which is to be sold on AirAsia flight ...
Uber to invest $300 million in EV maker Lucid as part of robotaxi deal
SAN FRANCISCO :Uber will invest $300 million in electric vehicle maker Lucid in a robotaxi deal that aims to start with one major U.S. city late next year, the companies said on Thursday.Shares of Lucid surged more than 56 per cent to $3.58 in trading before the bell after the company also said it h ...
Samsung chairman Lee’s long legal saga ends with acquittal
The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea’s biggest conglomerate
Samsung billionaire Lee’s long legal saga ends with acquittal
The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea’s biggest conglomerate
