Australian watchdog sues Amazon unit over children's backpack safety
May 29 : Australia's competition watchdog said on Friday that it has initiated legal action against Amazon's local unit, alleging breaches of product safety labelling laws related to children's backpacks. According to the Australian Competition and Consumer Commission (ACCC), the comp ...
Australia's competition regulator sues Amazon's local unit over kids' backpack safety
May 29 : Australia's competition watchdog on Friday launched Federal Court proceedings against Amazon's local unit over allegations that children's backpacks in its possession or control for sale on its online marketplace lacked mandatory button battery warning labels.
Not beyond compare: Genting Singapore’s weak hand is getting harder to hide
Jude Chan - It’s hard not to compare RWS with its high-flying rival MBS, even though they target different market segments
SGX-listed palm oil players under pressure as Indonesia’s commodity export overhaul stokes fears
Benicia Tan - Companies face heightened regulatory risks and the scale of policy roll-out poses execution hurdles: analysts
BYD debuts China’s most advanced EV chip in smart-driving push
The most advanced chip globally is the 2nm N2 node made by Taiwan Semiconductor Manufacturing Company
Oil falls over 1% on reports of potential US-Iran ceasefire deal
Traffic through the maritime chokepoint remains a small fraction of the pre-war level
Oil prices settle in mixed direction on conflicting reports of US-Iran ceasefire deal
Traffic through the maritime chokepoint remains a small fraction of the pre-war level
Law firm Kirkland to spend $500 million developing its own AI platform
WASHINGTON, May 28 : U.S. law firm Kirkland & Ellis said it is devoting $500 million of its revenue to developing a custom AI platform, accelerating a spending race on the technology in the legal industry.Kirkland, with self-reported revenue of $10.6 billion last year, said on Thursday it would ...
S&P 500 and Nasdaq hit record closing highs as US and Iran agree to extend ceasefire
The Dow Jones Industrial Average eked out small gains in afternoon trade to finish at another closing high
European shares dip as Middle Eastern developments keep investors wary
Next month’s European Central Bank policy meeting will be the next big catalyst for the market
Apollo, Blackstone work on $36 billion debt deal for Anthropic, Bloomberg News reports
May 28 : Apollo Global Management and Blackstone are working to bring in additional investors for about $36 billion debt financing tied to AI startup Anthropic PBC's efforts to expand its AI infrastructure, Bloomberg News reported on Thursday.The debt would be used to buy custom chips from Goog ...
SentinelOne provides tepid quarterly forecast, to cut 8% jobs
May 28 : Cybersecurity company SentinelOne forecast second-quarter revenue below analysts' expectations on Thursday and said it would cut about 8 per cent of its workforce as it looks to invest in growth areas such as AI, data and cloud.The company also missed first-quarter revenue estimates, s ...
Dell raises annual forecasts as AI data center buildout fuels demand
May 28 : Dell boosted its annual revenue and profit expectations on Thursday, showing data center expansion by clients is fueling demand for its AI-optimized servers that are powered by Nvidia's advanced chips.Shares of the company, which counts CoreWeave, Honeywell International and Samsung El ...
New buzz in F1: ancient wasp species named after Piastri
LONDON, May 28 : A newly discovered species of wasp dating from the time of the dinosaurs and found preserved in Burmese amber has been named after McLaren Formula One driver Oscar Piastri.A research article in the June issue of academic journal Palaeoworld named the insect, found in northern Myanma ...
Anthropic's valuation surges to $965 billion, surpassing OpenAI
May 28 : Anthropic said on Thursday it has raised $65 billion at a post-money valuation of $965 billion, as it aims to bolster computing capacity to meet growing demand for chatbot Claude and scale its products.The new valuation after the series H funding round puts Anthropic ahead of OpenAI, last v ...
Anthropic valued at $965 billion after raising $65 billion in latest round
May 28 : Anthropic said on Thursday it has raised $65 billion at a post-money valuation of $965 billion, as it seeks to expand computing capacity to meet growing demand for chatbot Claude and scale its products.The new valuation after the series H funding round puts Anthropic ahead of rival OpenAI, ...
Anthropic secures $965 billion valuation after raising $65 billion
May 28 : Anthropic said on Thursday it has raised $65 billion in a series H funding round, which would value it at $965 billion post-money.The funding round was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.It comprises $15 billion of previously committed investments from hypers ...
Insurance platform Corgi valued at $2.6 billion in latest funding round
May 28 : AI insurance platform Corgi said on Thursday it raised $106 million in a funding round led by investment firm TCV that valued it at $2.6 billion.The funding round underscores strong investor appetite for startups using artificial intelligence to modernize the financial services sector.Here ...
Anthropic to roll out Claude Mythos in coming weeks, launches Opus 4.8
May 28 : Anthropic on Thursday said it is launching an upgraded Claude Opus 4.8 model even as it works to release its powerful, market-moving Mythos model to all customers in the coming weeks.Mythos is the AI lab's large language model with advanced cybersecurity capabilities that have raised c ...
Energy use forcing rethink of AI chip design, TSMC says
AMSTERDAM, May 28 : A senior TSMC executive said on Thursday that surging electricity demands from AI are making energy efficiency rather than computing power the main constraint shaping future computer chip development.Kevin Zhang, Senior Vice President of Business Development, said customers acros ...
Microsoft to release new coding model next week, the Information reports
May 28 : Microsoft will unveil a suite of new homegrown AI models next week at its annual "Build" conference for developers in San Francisco, including a coding model to boost the usage of its GitHub Copilot tool, the Information reported on Thursday.The company is also planning to roll ou ...
Iran, US agree on deal to extend ceasefire and open Hormuz; Trump’s approval pending
Iran’s Tasnim news agency said the text of the agreement had not been finalised or confirmed
Iran, US agree on deal to extend ceasefire and open Hormuz, say sources, pending Trump’s approval
Washington was ‘not there yet’ with Iran on an agreement but that the parties were close, says US V-P Vance
Iran, US agree reach deal to extend ceasefire and open Hormuz, say sources, pending Trump’s approval
Iran’s Tasnim news agency said the text of the agreement had not been finalised or confirmed
Iran and US reach outline ceasefire deal after latest attacks, says report
[WASHINGTON/DUBAI] The United States and Iran have reached an outline agreement to extend their ceasefire pending the approval of President Donald Trump,...
US revises first quarter growth down while inflation climbs
WASHINGTON: The US economy expanded less than initially estimated in the first quarter, government data showed on Thursday (May 28), while a key inflation gauge separately hit a three-year high on fallout from the Mid
Japan's major banks to use OpenAI's new model to thwart cyberattacks, Nikkei reports
May 28 : Japan's three biggest banks — MUFG Bank, Sumitomo Mitsui Banking Corp and Mizuho Bank — are expected to gain access to OpenAI's latest model to defend against cyberattacks, the Nikkei newspaper reported on Thursday.The model, available only to trusted partners, is believed to ...
Japan's major lenders to use OpenAI's new model to thwart cyberattacks, Nikkei reports
May 28 : Japan's three biggest banks - MUFG Bank, Sumitomo Mitsui Banking Corp and Mizuho Bank - are expected to gain access to OpenAI's latest model to defend against cyberattacks, the Nikkei newspaper reported on Thursday.
Fed’s Musalem says officials can’t rely on AI boom to fix inflation
Investors are betting there is more than a 50 per cent chance the Fed will raise rates by the end of the...
Meta commits $13 million in additional funding for oversight board until 2028
May 28 : Meta's Oversight Board said on Thursday it has secured $13 million in additional funding from the social media company to secure the independent watchdog's operations through 2028.Social media platforms have been facing intense pressure to balance allowing free speech and curbing ...
Meta commits extra funding to oversight board until 2028
May 28 : Meta Platforms' Oversight Board said on Thursday the tech giant has committed additional funding to secure the independent watchdog's operations through 2028.Social media platforms have been facing intense pressure to balance allowing free speech and curbing misinformation, while ...
Groq raising up to $650 million from existing investors, source says
May 28 : Groq is raising up to $650 million from existing investors, a source familiar with the matter told Reuters on Thursday, after the AI chip startup signed a $17 billion licensing deal with Nvidia in December. Groq has been shifting focus away from hardware toward AI inferencing, where it spec ...
Groq targets $650 million fundraise after Nvidia licensing deal, Axios reports
May 28 : Groq is raising up to $650 million from existing investors, Axios reported on Thursday, after the AI chip startup signed a $17 billion licensing deal with Nvidia in December. Groq has been shifting focus away from hardware toward AI inferencing, where it specializes in enabling trained AI m ...
China's BYD steps up assisted-driving push
Chairman Wang Chuanfu said the carmaker aimed to achieve "zero traffic accidents" through intelligent-driving technology.
