SpaceX will disrupt $1.6 trillion US communications industry, Oppenheimer says
June 3 : SpaceX will disrupt the $1.6 trillion U.S. communications industry as the Elon Musk-led company's satellite broadband unit Starlink expands, Oppenheimer said in a note on Wednesday, adding that legacy broadband providers like AT&T may be most at risk.The brokerage raised its estima ...
Bangladesh seeks new IMF lending deal, officials say
DHAKA, June 3 : Bangladesh has requested a new loan arrangement from the International Monetary Fund and is exiting its current $5.5 billion programme, government officials said on Wednesday.The officials said Dhaka will soon start talks with the IMF on a framework that would shape the design and co ...
Indonesian parrot, seen once in a century, reappears in mountain forest
June 3 : For the past century, the Blue-fronted Lorikeet was one of Indonesia's most elusive birds, known only from a 2014 photographic record and a handful of museum specimens, with a lingering hope that it had not vanished. After days of climbing through sharp limestone, biting insects and di ...
Meta enters enterprise AI race with new business agent
LONDON, June 3 : Meta Platforms on Wednesday unveiled an artificial intelligence agent aimed at helping businesses carry out day-to-day operations, positioning the social media giant as a player in the enterprise AI market.Announced at the company's WhatsApp-focused Conversations conference in ...
Little-tested spinal cord treatment triggers hope, hype and lawsuits in Brazil
SAO PAULO, June 3 : An experimental treatment for spinal cord injuries has ignited a frenzy in Brazil, drawing patients from as far off as Mexico to a small-town laboratory, mobilizing the government to expedite approval and turning a scientist into a national celebrity – all before its safety has ...
EU plans energy standards for data centres amid concerns over soaring power use
BRUSSELS, June 3 : The European Union will develop minimum energy-efficiency standards for data centres, it said on Wednesday, as concerns grow over their rapidly rising power use.EU data centre capacity is expected to more than double in the coming years, reaching 28 gigawatts by 2030 from 12 GW la ...
EU targets Big Tech dependence with 'made-in-Europe' drive
BRUSSELS, June 3 : The European Commission proposed new laws on Wednesday to boost domestic cloud, AI and semiconductor industries, aiming to cut reliance on U.S. Big Tech in a move that could ratchet up transatlantic tensions.The Cloud and AI Development Act and Chips Act 2.0 form part of Europe� ...
AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its funding round two years ago.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors includ ...
Market research firm AlphaSense nearly doubles valuation to $7.5 billion in new funding round
June 3 : Market intelligence platform AlphaSense said on Wednesday it has raised $350 million at a valuation of $7.5 billion, nearly double that of its previous funding round.The round was led by Vitruvian Partners, Accenture Ventures, and J.P. Morgan Asset Management, with new investors including D ...
Scientists reveal Ötzi the Iceman's dynamic microbial world
June 3 : Ötzi the Iceman died violently roughly 5,300 years ago in the Alpine region of the modern border between Italy and Austria. An arrowhead was found lodged in his left shoulder, having caused fatal bleeding when he was attacked in mountainous terrain. But, in some sense, Ötzi still lives, a ...
EU Parliament to switch to French search engine from Google in tech sovereignty push
BRUSSELS, June 3 : The European Parliament will switch to French search engine Qwant from Google, it said on Wednesday, underscoring Europe's push to reduce its reliance on U.S. technology in favour of local alternatives.The European Commission will later on Wednesday announce measures on chips ...
AI music startup Suno raises funding at $5.4 billion valuation
June 3 : Suno said on Wednesday it has raised more than $400 million in a funding round at a $5.4 billion valuation, as the AI music startup looks to enhance its platform by creating new tools.Here are some details:• The Massachusetts-based startup, which allows users to generate songs via AI prom ...
Tiger Brokers to suspend investors in mainland China from adding new positions
However, they can buy or sell securities from existing accounts when they travel offshore
Singapore stocks end higher as DBS, OCBC hit fresh highs; STI up 0.8%
Across the broader market, losers outnumber gainers 345 to 259
Singapore stocks end higher on Wednesday as STI rises 0.8%; DBS, OCBC hit fresh highs
SIA rises 3.7% to be the top gainer on the index while Hongkong Land was the worst performer, down 1.2%
China taps new state investment firm to help coordinate its global metals and mining deals
Guangyan will be able to co-invest in overseas projects alongside Chinese firms
Rupiah hits new low, breaches 14,000 threshold against Singdollar
Deon Loke - Indonesian stocks also at their lowest level in five years
Analysis:Software stocks bounce back - now comes the hard part
June 3 : Software stocks have rebounded from a punishing selloff as investors are betting that AI may boost the sector rather than leaving it for dead.The iShares Expanded Tech-Software Sector ETF has surged nearly 42 per cent from its April low, turning fears that AI would rip the heart out of the ...
When IPOs go wrong: SpaceX, AI firms face a delicate process
SAN FRANCISCO, June 3 : Beware the ghosts of IPOs past.SpaceX and Anthropic are preparing for what may be the biggest public-market launches in U.S. history, with OpenAI rumored to be close behind. That will put the companies' chiefs in the sights of the buttoned-down world of Wall Street, even ...
Analysis:US tech stocks' market dominance reaches new heights and presents new risks
NEW YORK, June 3 : The charge higher in U.S. technology stocks has made broader indexes as reliant as ever on the group - and more vulnerable should those market leaders trip up.With stunning gains over the past two months, the S&P 500 technology sector now accounts for more than 39 per cent of ...
Analysis:High-profile Instagram AI chatbot breach spotlights security risks of automation
June 3 : An Instagram hack that saw attackers talk Meta's AI support chatbot into handing over access to high-profile accounts has exposed a critical flaw at the heart of the company's push to automate sensitive user functions.The breach allowed hackers to seize accounts including the dorm ...
It’s not just about pumping money - Temasek’s portfolio firms and SGX must create value: Teo Chee Hean
Lee U-Wen - Others must decide if the investment company should do more or less in the local stock market, notes its chairman
Instincts from public service useful in navigating 'stark' new reality for investments: Temasek chairman Teo Chee Hean
Mr Teo was giving his first interview as Temasek chairman after more than five decades in public service.
Don’t just pump money – Temasek’s portfolio firms, markets must create inherent value: Teo Chee Hean
Lee U-Wen - Others must decide if the investment company should do more or less in the local stock market, notes its chairman
Geopolitical risks must be considered before investing in tech: Temasek chairman Teo Chee Hean
Lee U-Wen - One has to take into account global events and how that may impact a company, he adds
It’s not just about pumping money - Temasek’s portfolio firms and SGX must also create value: Teo Chee Hean
Lee U-Wen - Others must decide if the investment company should do more or less in the local stock market, notes its chairman
France fines Shein $26 million over consumer rule breaches; Shein to challenge
PARIS, June 3 : France has fined fast-fashion firm Shein about €22 million ($26 million) over issues with returns, product information and order confirmations, a penalty the company described as disproportionate and vowed to challenge.The Directorate General for Competition, Consumer Affairs, and ...
France fines Shein €22 million, Shein calls fines disproportionate
PARIS, June 3 : France's consumer protection agency fined Chinese fast fashion retailer Shein about €22 million over allegations including issues with returns, inadequate information on products' environmental quality and sending consumers non-compliant order confirmations.Shein called t ...
Private infra, real estate capital to play larger financing role in AI data center boom, Goldman says
June 3 : Private infrastructure and real estate capital are expected to play a larger role in financing the AI-driven data-center boom, as companies move beyond traditional forms of funding, Goldman Sachs said in a note on Tuesday.• Goldman increased its combined capex forecast for the four larges ...
Yen falls to 160 level, prompting warnings from Japanese officials
LONDON, June 3 : Renewed strength in the dollar pushed the Japanese yen back to the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention, as fresh Gulf hostilities bolstered demand for the greenback.The U.S. said Iran launched ballistic ...
Yen hovers near 160 level, prompting warnings from Japanese officials
NEW YORK/LONDON, June 3 : Underlying dollar strength pushed the Japanese yen back to the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention, as fresh Gulf hostilities bolstered demand for the U.S. currency.The U.S. said Iran launched ...
Non-US dollar stablecoins can thrive where financial inefficiencies remain, including in Asean: StanChart
Evan See - The bank’s digital assets executives back faster settlement across remittance corridors as a main use case
Non-USD stablecoins can thrive where financial inefficiencies remain, including in Asean: StanChart
Evan See - The bank’s digital assets executives back faster settlement across remittance corridors as a main use case
Amazon launches Prime in South Africa for under $4 a month
June 3 : E-commerce giant Amazon.com said on Wednesday it has launched its paid Prime service in South Africa, offering faster deliveries and media content for 59 South African rand ($3.61) a month or 399 rand a year. Here are some details: • Amazon Prime is already available in 26 other countries ...
