Chime reports maiden quarterly profit on resilient consumer spending
(Corrects paragraph 8 to say purchase volume, including outbound instant transfer, increased 15 per cent year-over-year to $40 billion, not 12 per cent to $39 billion)By Pritam Biswas and Arasu Kannagi BasilMay 6 : Chime posted its first-ever quarterly profit on Wednesday, as resilient consumer spen ...
Arm forecasts higher-than-expected revenue on surging AI data center demand
May 6 : Arm Holdings forecast first-quarter revenue above Wall Street expectations on Wednesday, benefiting from higher adoption of its chip technology as tech companies spend heavily on artificial intelligence compute.Arm shares jumped 12 per cent in after-hours trading.The company expects quarterl ...
Meta asks California judge to throw out landmark social media addiction verdict
May 6 : Meta Platforms has asked a Los Angeles judge to throw out a jury’s verdict finding the company liable for a woman’s depression in a landmark trial over whether the company has harmed young users by designing its platforms to be addictive.In the filing, submitted on Monday but made public ...
AirAsia orders 150 Airbus A220 jets worth $19 billion
MIRABEL, QUEBEC, May 6 : Malaysian budget carrier AirAsia has placed an order for 150 Canadian-designed A220-300 jets from Airbus, the largest single-firm order ever for the jetliner, the companies announced at an event in Quebec on Wednesday.Airbus commercial aviation CEO Lars Wagner said AirAsia i ...
AirAsia orders 150 A220 jets, Airbus executive says
MIRABEL, QUEBEC, May 6 : AirAsia is ordering 150 A220 jets from Airbus, Airbus commercial aviation CEO Lars Wagner announced at an event in Quebec on Wednesday.
In OpenAI trial, former technology chief says Altman sowed 'chaos,' distrust among top executives
SAN FRANCISCO, May 6 : A former technology chief for OpenAI testified in a video on Wednesday that CEO Sam Altman sowed distrust among top executives and persistent chaos as the company forged ahead with developing and broadly deploying its powerful artificial intelligence software.“My concern was ...
Fed's Goolsbee: AI success would be 'lovely,' but Fed would still need to watch for overheating
WASHINGTON, May 6 : Even if artificial intelligence is as transformative as advertised the U.S. Federal Reserve would still need to watch for rising inflation, Chicago Fed President Austan Goolsbee said on Wednesday."If it's as good as advertised, it would be lovely, wonderful, it will mak ...
Google offers changes to spam policy to avert EU antitrust fine
May 6 : Alphabet's Google has offered to change its spam policy criticised by publishers, according to a European Commission document seen by Reuters, in a move that may help it stave off an EU antitrust fine.The U.S. tech giant found itself in EU regulators' crosshairs after publishers co ...
Google moves to avert EU fines with offer in news search case, Bloomberg News reports
May 6 : Google has proposed modifications to the way it presents news results on its search engine, aiming to prevent additions to the 9.5 billion euros ($11.16 billion) in competition fines it has accumulated from the European Union, Bloomberg News reported on Wednesday.The company recently filed p ...
SpaceX to give Anthropic access to its massive AI supercomputer
May 6 : Elon Musk's SpaceX said on Wednesday it has signed a deal to give Anthropic access to Colossus 1, a massive AI supercomputer, bringing together two of the most prominent players in the artificial intelligence race.Anthropic plans to use the additional computing power to boost capacity f ...
Anthropic strikes SpaceX data center deal as it plows ahead on AI coding
SAN FRANCISCO, May 6 : SpaceX said on Wednesday it would lease its Colossus 1 artificial intelligence data center to Anthropic, pairing Elon Musk's company with a previously criticized rival in a deal that could add momentum to the Claude creator's AI coding push.Under the agreement, Anthr ...
SpaceX to rent Memphis data center to Anthropic in big AI tie-up
SAN FRANCISCO, May 6 : Elon Musk's SpaceX will give Anthropic access to its massive Colossus 1 artificial intelligence data center, bringing together two of the most prominent players in the artificial intelligence race.Under the deal announced on Wednesday, Anthropic will use the full computin ...
US stocks: S&P 500, Nasdaq hit record highs on AI optimism, Middle East peace hopes
THE S&P 500 and the Nasdaq hit record highs on Wednesday, extending their strong run powered by sustained enthusiasm around artificial intelligence...
Ted Turner, outspoken founder of CNN, dies at 87
Sharon Lee - The media mogul made philanthropic history by donating US$1 billion to the UN
India's Paytm forecasts higher revenue growth in FY 2027
BENGALURU, May 6 : Indian fintech firm Paytm said it expects to grow faster in fiscal 2027 than in the previous year, banking on gains in market share in merchant and consumer payments and growth in the distribution of its financial services.The company also expects its margins to expand in the curr ...
Indian fintech firm Paytm posts fourth-quarter profit on growth in core businesses
BENGALURU, May 6 : Indian fintech firm Paytm reported a profit for the fourth quarter on Wednesday, helped by growth in its core financial services distribution business and payments segment.The digital payments firm posted a consolidated net profit of 1.84 billion rupees ($19.45 million) for the qu ...
Coliwoo reports 1HFY2026 earnings of $13.4 mil, 43.9% higher y-o-y
Teo Zheng Long - Coliwoo Holdings (SGX: W8W ) has reported earnings, or net profit attributable to equity holders (PATMI), of $13.4 million for 1HFY2026 ended March 31, 43.9% higher y-o-y. Revenue was up by 16.6% y-o-y to $26.9 million, mainly attributable to a 15.6% y-o-y growth in rental income. The higher rental ...
US Supreme Court declines to pause order holding Apple in contempt in Epic Games lawsuit
WASHINGTON, May 6 : The U.S. Supreme Court rejected on Wednesday Apple's request to temporarily block a judicial order that found the iPhone maker in violation of sweeping court-mandated changes to its lucrative App Store as part of an antitrust lawsuit by "Fortnite" maker Epic Games. ...
Global watchdog FSB unveils action plan on private-credit risks
It says ‘significant data challenges’ are frustrating its effort to assess vulnerabilities in the market
Khoo Thomas Clive raises stake in TOTM Technologies to slightly above 20%
Teo Zheng Long - TOTM Technologies Limited’s (SGX: 42F ) (TOTM Tech) substantial shareholder, Khoo Thomas Clive, has increased his stake in the company via market transaction. In the May 6 filing, Khoo acquired 3.9 million shares at 2.8 cents each. This translates to a total consideration of $109,200. This latest ...
Corning partners with Nvidia to expand US fiber optic output for AI growth
May 6 : Corning and Nvidia said on Wednesday they would partner to expand U.S. production of optical connectivity products used in artificial intelligence data centers.The specialty glass maker also raised its long-term sales targets on surging demand for AI infrastructure. Its shares rose more than ...
Microsoft may shelve 2030 clean energy target as AI lifts power use, Bloomberg News reports
May 6 : Microsoft is considering delaying or abandoning its 2030 goal of matching its entire hourly electricity use with renewable energy purchases, Bloomberg News reported on Wednesday, citing people familiar with the matter.The expensive and energy-intensive push for data centers is reshaping the ...
UnUsUaL guides for net loss for FY2026 due to market competition and higher operational costs
Teo Zheng Long - UnUsUaL Limited’s (SGX: 1D1 ) board of directors has announced that the company is expected to report a net loss for FY2026 ended March 31, compared with a net profit for 1HFY2026 ended Sept 30, 2025. The net loss arises from heightened market competition and increased operational costs leading to ...
ASTI Holdings’ CEO Eddie Ng acquires 40 mil shares at 9 cents each to become controlling shareholder
Teo Zheng Long - ASTI Holdings (SGX: 575 ) announced that its executive chairman and CEO, Eddie Ng, has acquired 40 million shares at 9 cents each via off-market transaction. At 9 cents per share, it represents a discount of around 4.25% to ASTI Holdings’ last traded price prior to the trading halt on May 5 of 9.4 ...
Parliament unanimously backs motion affirming that Singapore must not have jobless growth amid AI transition
A total of 24 Members of Parliament, including seven from the Workers’ Party, spoke for over seven hours on the impact of the AI transition on jobs and livelihoods.
Vin’s Holdings secures settlement, partial repayment of S$44,300 from ex-employee
Young Zhan Heng - This is related to irregular transactions by a former key executive that was disclosed in April
Iran says it is reviewing new US proposal after sources say sides closing in on deal
If both sides agree on a preliminary deal, they will begin 30 days of detailed negotiations to reach a full agreement
Manulife US REIT says it will resume distributions at ‘sustainable payout ratio’ after MRA exit
Felicia Tan - After nearly three years since Manulife US REIT (MUST) announced it was halting distributions, unitholders are finally seeing some semblance of hope. On May 6, the REIT announced, in its operational updates for the 1QFY2026 ended March 31, that one of its key priorities in 2026 to 2027 is to resume ...
Pandora CEO says US consumer divide growing even as sales beat expectations
The company’s chief executive is grappling with weak consumer sentiment in its core market amid the Iran war
Disney earnings beat estimates as new CEO outlines growth strategy
[LOS ANGELES] Walt Disney exceeded Wall Street’s quarterly earnings estimates on Wednesday (May 6) as streaming and theme park revenue rose, and new chief...
Analysis:SpaceX IPO gives Musk sweeping power and curbs shareholder rights
NEW YORK, May 6 : SpaceX has adopted corporate governance policies that will erode typical shareholder protections in unprecedented ways, giving founder Elon Musk virtually unchecked executive authority when the rocket maker goes public later this year.Excerpts of SpaceX's IPO registration stat ...
Singapore will not leave future of work, livelihoods to chance amid AI transition: Tan See Leng
Singapore must be prepared that AI’s impact on jobs could grow as adoption gains pace and scale, said the manpower minister.
Sats acquires additional 40% stake in China aviation meal producer for 312.6 million yuan
Young Zhan Heng - The move will let the group capitalise on Chinese airlines’ increasing adoption of frozen food
Companies that replace workers with AI risk losing competitive edge, relying on vendors: Jasmin Lau
Tessa Oh - Investing in employees, such as by training them, facilitating their access to frontier AI tools are in firms’ long-term interest, she notes
