1 day ago
Saudi Arabia cuts oil prices for June from record-high premium
Global benchmark Brent has increased by more than 50% since the conflict started at the end of February
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
1 day ago
AMD forecasts quarterly revenue above expectations as AI chip demand stays strong
Unlike Intel, the company outsources its manufacturing to contract chipmakers such as TSMC
1 day ago
Oil prices fall a second day as Trump indicates possible Iran peace deal
The Strait of Hormuz closure has drawn down global inventories as refineries try to make up the shortfall
1 day ago
Oil prices fall 4% as fragile US-Iran ceasefire holds, two ships pass through Strait of Hormuz
South Korea is reviewing whether to join Trump’s plan to help ships transit through the strait, an official says
1 day ago
Australia's DigiCo to sell US data centre for $750 million; shares soar
May 6 : Australia's DigiCo Infrastructure said on Wednesday it would sell its Chicago data centre for $750 million to pay down debt and fund the development of its Sydney site, sending its shares soaring more than 25 per cent.Shares of the data centre landlord rose as much as 25.4 per cent to A ...
1 day ago
Australia's DigiCo Infrastructure to sell Chicago data centre for $750 million; shares climb
May 6 : Australia's DigiCo Infrastructure said on Wednesday it will sell its CHI1 data centre facility in Chicago for $750 million to pay down its debt and fund the development of its Sydney site, sending shares of the data center landlord up 19 per cent. Shares of the firm jumped as much as 18 ...
1 day ago
Australia's DigiCo Infrastructure to sell Chicago data centre for $750 million
May 6 : Australia's DigiCo Infrastructure REIT said on Wednesday it will sell its CHI1 data centre facility in Chicago for $750 million to pay down its debt and fund the development of its Sydney site.DigiCo Infrastructure, which spun off from HMC Capital in late 2024 with a A$2 billion IPO, sa ...
1 day ago
Australia's DigiCo Infrastructure REIT to sell Chicago data centre for $750 million
May 6 : Australia's DigiCo Infrastructure REIT said on Wednesday it has struck a deal with a North American fund manager to sell its CHI1 data centre facility in Chicago for $750 million.The divestment represents a near 5 per cent premium to the data centre landlord's November 2024 acquisi ...
1 day ago
S&P 500 and Nasdaq notch records as AI chip stocks surge
The S&P 500 has posted 43 new highs and 23 new lows; the Nasdaq recorded 160 new highs and 79 new lows
1 day ago
Apple settles lawsuit over late Siri AI features for $250 million
SAN FRANCISCO, May 5 : Apple on Tuesday settled for $250 million a shareholder lawsuit brought after the company delayed artificial-intelligence upgrades to its Siri voice assistant.The lawsuit, filed by Peter Landsheft in U.S. federal court in California in 2024, arose after the iPhone maker announ ...
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Apple agrees to US$250 million settlement over AI Siri claims
SAN FRANCISCO: Apple on Tuesday agreed to pay US$250 million to settle a class action lawsuit accusing it of misleading millions of iPhone buyers by falsely touting artificial intelligence capabilities for its Siri voice assistant in late 2024.Plaintiffs accused the California tech giant of having & ...
1 day ago
European shares rise on positive earnings bump; focus on Middle East tensions
High oil prices are weighing heavily on energy-dependent Europe, stoking inflation fears
1 day ago
Electronic Arts misses bookings estimates as 'Battlefield' engagement falls
May 5 : Videogame publisher Electronic Arts missed quarterly bookings estimates on Tuesday, weighed down by a post-launch drop-off in engagement for its "Battlefield" franchise and sluggishness in its mobile business.• While "Battlefield 6" enjoyed a strong launch late last yea ...
1 day ago
Saylor's Strategy posts wider quarterly loss on bitcoin slump
May 5 : Michael Saylor's Strategy reported a wider first-quarter loss on Tuesday, hammered by a slump in bitcoin prices that weighed on the value of its sizeable crypto holdings amid heightened market volatility.A sharp downturn in bitcoin prices since October, later exacerbated by escalating M ...
1 day ago
Anthropic commits to spending $200 billion on Google's cloud and chips, the Information reports
May 5 : Anthropic has committed to spend $200 billion with Google Cloud over five years as part of a recent agreement, the Information reported on Tuesday, citing a person with knowledge of the matter.The commitment indicates that the AI startup represents more than 40 per cent of the "revenue ...
1 day ago
Bumble posts upbeat quarterly revenue as platform overhaul targets Gen Z
May 5 : Bumble on Tuesday posted first-quarter revenue above estimates as the online dating platform's strategy to win back younger users starts to bear fruit.The company posted revenue of $212.4 million, above analysts' estimates of $211.4 million, according to data compiled by LSEG.• O ...
1 day ago
Skyworks Solutions forecasts higher revenue on strong chip demand
May 5 : Skyworks Solutions forecast quarterly revenue above estimates on Tuesday, betting on strong demand for its radio-frequency chips used in premium smartphones.Shares of the Irvine, California-based company rose more than 1 per cent in extended trading.• Skyworks, which sells analog and mixed ...
1 day ago
Freshworks to cut 11% jobs as AI reshapes software industry
May 5 : Freshworks said on Tuesday it would cut 11 per cent of its workforce, or about 500 jobs, as the business-software company navigates the industrywide disruptions caused by the rapid advances in artificial intelligence.Shares of the company, which makes software that manages customer service a ...
1 day ago
Freshworks to cut 11% jobs as AI reshapes software sector
May 5 : Freshworks said on Tuesday it would cut 11 per cent of its workforce, or about 500 jobs, as the business-software company grapples with an industry being reshaped by artificial intelligence.Shares of the company were down around 5 per cent in extended trading.The cuts are the latest tied to ...
1 day ago
AMD forecasts revenue above expectations on strong AI demand, shares jump 12%
May 5 : Advanced Micro Devices forecast second-quarter revenue above Wall Street expectations on Tuesday, helped by keen demand for its data-center chips as cloud-computing companies accelerate spending on artificial-intelligence infrastructure. Shares of the company jumped 12 per cent in extended t ...
1 day ago
Match Group beats revenue estimates as Hinge grows, Tinder resets amid AI push
May 5 : Match Group posted first-quarter revenue above estimates on Tuesday, driven by the solid performance of dating app Hinge and early signs that a turnaround at Tinder is gaining traction amid a broad push for AI-led transformation.Shares of the company rose about 5 per cent in extended trading ...
1 day ago
Growth in gaming accessories pushes Logitech's fourth-quarter sales higher
ZURICH, May 5 : Logitech International on Tuesday reported better-than-expected results for the fourth quarter, with the computer hardware maker seeing strong growth in gaming accessories and video collaboration devices.Logitech, whose products include computer mice, keyboards and webcams, said its ...
1 day ago
Super Micro forecasts quarterly revenue above estimates, shares climb
May 5 : Super Micro Computer on Tuesday forecast fourth-quarter revenue and adjusted profit above Wall Street estimates, banking on robust demand for its artificial intelligence servers, sending shares up 17 per cent in extended trading.The server maker has been a primary beneficiary of the AI boom, ...
1 day ago
Flex to spin off AI data-center infrastructure unit into listed company
NEW YORK, May 5 : Contract manufacturer Flex on Tuesday outlined plans for a strategic break-up to monetize its exposure to artificial intelligence, saying it would spin off its cloud and power infrastructure business into a separate publicly traded company by early 2027.The split, which is subject ...
1 day ago
Lumen beats quarterly revenue estimates, to acquire Alkira for $475 million
May 5 - Digital networking services company Lumen Technologies beat Wall Street estimates for first-quarter revenue on Tuesday and announced it would buy networking platform Alkira for $475 million in cash.The acquisition is expected to accelerate Lumen's push into cloud-to-cloud and data cente ...
1 day ago
Meta plans advanced 'agentic' AI assistant for users, FT reports
May 5 : Meta is building a highly personalized artificial intelligence assistant to carry out everyday tasks for its billions of users, the Financial Times reported on Tuesday, as the company faces investor scrutiny over its escalating AI spending.The social media giant is developing agentic tools, ...
1 day ago
OpenAI projects $50 billion spending on computing power this year, Brockman says
May 5 : OpenAI expects to spend $50 billion on computing power this year, co-founder and President Greg Brockman said during his testimony in the company's courtroom battle with Elon Musk on Tuesday.The ChatGPT maker's computing costs have risen from about $30 million in 2017 to tens of bi ...
1 day ago
Saudi Arabia cuts Arab Light June OSP for Asia from record levels
May 5 : Saudi Arabia has set the June Arab Light crude oil official selling price to Asia at $15.50 a barrel above the Oman/Dubai average, down from the previous month, Saudi Aramco said in a statement on Tuesday.The OSP premium for the previous month was $19.50 a barrel.The cut came almost in line ...
1 day ago
Saudi Arabia cuts Arab Light June OSP for Asia
May 5 : Saudi Arabia has set the June Arab Light crude oil official selling price to Asia at $15.50 a barrel above the Oman/Dubai average, down from the previous month, Saudi Aramco said in a statement on Tuesday.The OSP premium for the previous month was $19.50 a barrel.
1 day ago
Musk wanted $80 billion to colonize Mars, OpenAI president testifies at trial
OAKLAND, California, May 5 : The president of OpenAI testified on Tuesday that Elon Musk supported transforming the artificial intelligence startup into a for-profit company, but wanted full control in part to help him raise $80 billion to colonize Mars.Under questioning from an OpenAI lawyer, Greg ...
1 day ago
David Attenborough, 'the voice for nature,' turns 100
LONDON, May 5 : Britain's David Attenborough, who has for decades been the world's most authoritative voice on the natural world and whose documentaries have been watched by hundreds of millions, will on Friday celebrate his 100th birthday. After more than 70 years of film-making, Attenbor ...
1 day ago
Exclusive-Top Google scientist says EU data measures pose privacy risk for users
BRUSSELS, May 5 : A top Google scientist sent a warning to EU antitrust regulators on Tuesday that its proposal requiring the company to share search engine data with rivals such as OpenAI risked exposing users' private information, the sternest rebuke yet in a tussle over Google's lucrati ...
1 day ago
OpenAI provided GPT-5.5 to US for national security testing, executive said
WASHINGTON, May 5 : OpenAI gave the U.S. government early access to its GPT-5.5 model for national security testing, said OpenAI executive Chris Lehane in a LinkedIn post.
1 day ago
Apple to let users choose rival AI models across iOS 27 features, Bloomberg News reports
May 5 : Apple will allow users to select from third-party AI models for tasks such as generating and editing text and images, across its iOS 27 features, Bloomberg News reported on Tuesday.