Microsoft fights $2.8 billion UK lawsuit over cloud computing licences
LONDON, Dec 11 : Microsoft was on Thursday accused of overcharging thousands of British businesses to use Windows Server software on cloud computing services provided by Amazon, Google and Alibaba, at a pivotal hearing in a 2.1 billion-pound ($2.81 billion) lawsuit.Regulators in Britain, Europe and ...
Disney to invest US$1 billion in OpenAI, license characters for Sora video tool
Walt Disney is investing US$1 billion in OpenAI and will let the startup use characters from Star Wars, Pixar and Marvel franchises in its Sora AI video generator, a deal that could reshape how Hollywood makes content.The three-year partnership announced on Thursday (Dec 11) is a pivotal step in Hol ...
Disney to invest $1 billion in OpenAI, license characters for Sora video tool
Dec 11 : Walt Disney is investing $1 billion in OpenAI and will let the startup use characters from Star Wars, Pixar and Marvel franchises in its Sora AI video generator, a crucial deal that could reshape how Hollywood makes content.The three-year partnership announced on Thursday is a pivotal step ...
Crypto firm Nexo purchases Argentina's Buenbit in Latin America expansion
Dec 11 : Cryptocurrency firm Nexo is acquiring Buenbit, an Argentine trading platform, as it targets growth across Latin America, it said on Thursday. Nexo, which earlier this year announced it would return to the United States after leaving the market due to $45 million in regulatory fines, has co ...
Trafigura, Gupta lawyers trade blame over metals fraud as trial winds up
LONDON, Dec 11 : Commodity trader Trafigura told London’s High Court on Thursday that Indian businessman Prateek Gupta had woefully failed to show its employees knew of or took part in a $600 million metals fraud, as lawyers made closing arguments in a long-running case.Gupta's lawyers counte ...
EU antitrust regulators erred in clearing Broadcom's VMware deal, cloud industry lobby says
BRUSSELS, Dec 11 : EU antitrust regulators failed to analyse properly the risks of Broadcom's $69 billion acquisition of cloud computing firm VMware before clearing the deal, the Cloud Infrastructure Services Providers in Europe (CISPE) has told Europe's second-highest court.CISPE, which h ...
Singapore’s F&B industry gears up for a rocky 2026
Jaime Ee - Players in the mid-high to luxury segment look back on 2025, and prepare for the challenges ahead
Architects of AI named Time's 'Person of the Year'
NEW YORK, Dec 11 : Time magazine named the architects of artificial intelligence its "Person of the Year" on Thursday, citing their ability to deliver the age of thinking machines with transformative technology. "Person of the Year is a powerful way to focus the world’s attention o ...
Kalshi, Crypto.com launch prediction markets coalition as investor interest soars
Dec 11 : Kalshi and Crypto.com said on Thursday they had launched a national alliance of prediction market operators that includes cryptocurrency exchange Coinbase, retail trading platform Robinhood and sports gaming operator Underdog.The group, Coalition for Prediction Markets (CPM), comes as the U ...
Opec says Opec+ raised output in November, leaves demand view steady
[LONDON] Opec said on Thursday (Dec 11) that the wider Opec+ oil producer group nudged up output in November as eight Opec+...
Sembcorp to acquire Australian power company Alinta Energy in A$6.5 billion deal
Derryn Wong - The asset is country’s fourth-largest utilities provider with around 1.1 million customers
Amazon plans new one-hour pickup service in stores, Business Insider reports
Dec 11 : Amazon is developing a "rush" pickup service that would let customers collect orders from its stores within an hour, Business Insider reported on Thursday, citing an internal document and a person familiar with the matter.The feature would allow shoppers to place a "unified&q ...
Filipino typhoon survivors sue Shell over climate change
Typhoon Rai struck in December 2021, killing over 400 people and leaving hundreds of thousands homeless
Axa warns on data centre ‘gambles’ as private credit risks rise
This comes amid growing awareness of emerging risks in private markets
Sembcorp to acquire Australian energy retailer Alinta Energy for A$6.5 bil
Nicole Lim - Sembcorp Industries (Sembcorp) has entered into a share sale agreement to acquire 100% of Alinta Energy for A$6.5 billion ($5.60 billion). Sembcorp will acquire the leading energy retailer and generator company from Australia from Pioneer Sail Holdings (PSH) and Latrobe Valley Power (LVP). Chow Tai ...
Seatrium consortium bags major contract with TenneT to link Germany’s grid with North Sea wind power
Benjamin Cher - This brings Seatrium’s value of new wins for FY2025 to over S$4 billion to date
Seatrium and GE Vernova consortium wins BalWin5 contract from TenneT
Lin Daoyi - TenneT has awarded a contract to a consortium comprising GE Vernova and Seatrium to deliver a major part of the BalWin5 project. With this latest contract in the bag, Seatrium’s new wins for FY2025 has reached more than $4 billion. BalWin5 is a new 2.2 GW offshore high-voltage direct current (HVDC ...
Investors say Elon Musk's SpaceX trading debut will be 'craziest IPO' ever
BOSTON/NEW YORK, Dec 11 : Investors welcomed reports that SpaceX was mulling a potential IPO that would help fund Elon Musk's Mars ambitions and value the rocket and satellite company at more than $1 trillion, as some have been waiting for years to buy into the company.SpaceX is looking to rais ...
AI startup Serval valued at $1 billion after Sequoia-led round to expand IT automation
Dec 11 : AI-powered IT support startup Serval has raised $75 million in a Series B funding round led by Sequoia, achieving a $1 billion valuation just three months after its previous funding round, the company told Reuters. The new funding brings Serval's total capital raised to $127 million. ...
DBS’ Tan Su Shan among Forbes’ list of 100 most powerful women globally; two other Singapore leaders ranked
Chloe Lim - The others are Temasek Trust chair Ho Ching and seasoned venture capitalist Jenny Lee
DBS’ Tan Su Shan is 29th among Forbes’ 2025 World’s 100 Most Powerful Women; two other Singaporeans ranked
Chloe Lim - The other two are Temasek Trust chair Ho Ching and seasoned venture capitalist Jenny Lee
Stocks mixed, with Oracle adding to AI jitters; dollar, US yields decline on Fed views
NEW YORK/LONDON, Dec 11 : Major stock indexes were mixed on Thursday, with technology-related shares down after cloud computing giant Oracle sounded a warning for artificial intelligence profitability, while the dollar and U.S. bond yields extended declines from the day before, when the Federal Rese ...
Oracle AI reality check knocks stocks, Fed cut saps dollar
LONDON, Dec 11 : World stocks stalled on Thursday as cloud computing giant Oracle sounded a warning for AI profitability, while bonds were firm and the dollar nursed losses after the U.S. Federal Reserve cut interest rates for a third meeting running.Despite the Fed relief, many heavyweight Asian an ...
Daily Debrief: What Happened Today (Dec 11)
Stories you might have missed
Can Manulife US Reit recover? Unitholders seek answers ahead of EGM
Shikhar Gupta - The real estate investment trust’s manager answers pointed questions from unitholders
Singapore stocks inch up after Fed rate cut; STI rises 0.2%
Benjamin Cher - Across the broader market, gainers edge out losers 256 to 244 after 1.1 billion securities worth S$1.3 billion change hands
Exclusive-AI software startup Harness valued at $5.5 billion in latest financing round
Dec 11 : Harness, an AI software development startup, has raised $200 million in a Goldman Sachs-led fundraising round that values it at $5.5 billion, the company said on Thursday.The financing marks a 49 per cent jump in the firm's valuation nearly four years after a Series-D round valued it a ...
Lendlease Global Commercial REIT enters facility agreement for $50 mil and accepts facility letter for up to $100 mil
Nicole Lim - Lendlease Global Commercial Trust Management (LREIT) has entered into a facility agreement worth $50 million and accepted an offer for an uncommitted revolving credit facility worth up to $100 million. These two facilities may be applied towards general corporate purposes and/or bridge financing of ...
Singtel hit with S$1 million fine for 2024 disruption that affected over 500,000 users
Shikhar Gupta - The incident on Oct 8 last year affected more than 500,000 users for more than four hours
Singtel hit with S$1 million fine for 2024 voice disruption
Shikhar Gupta - The incident on Oct 8 last year affected more than 500,000 users for more than four hours
Swiss National Bank holds interest rate at zero, cuts inflation forecast
The outcome shows the central bank setting a higher bar for moving negative than for a standard rate cut
South Korea's SK On, Ford Motor to end US battery joint venture
SEOUL, Dec 11 : South Korean battery maker SK On said on Thursday that it has decided to end its joint venture with Ford Motor for their joint battery factories in the U.S. as part of a business overhaul to focus on growth areas like energy storage systems.The split marks a reset for one of the majo ...
China says talks with EU on electric vehicle minimum price plan resumed
BEIJING: China's commerce ministry on Thursday (Dec 11) said negotiations with the European Union over a minimum price plan for China-made electric vehicles have restarted and would continue into next week, while urging the bloc not to talk independently with manufacturers.The 27-member bloc ap ...
Malaysia’s new KL-JB train tickets snapped up ahead of debut; frequency to double in January
Tan Ai Leng - ‘Further increases’ will follow in the coming months, says the country’s Transport Minister Anthony Loke
