Japan, US finance chiefs agree to closely communicate on FX
WASHINGTON : Japan and the United States agreed to closely communicate on currency markets, Japanese Finance Minister Shunichi Suzuki said on Wednesday after a meeting with U.S. Treasury Secretary Janet Yellen."I explained Japan's view, which is that it's desirable for exchange rates ...
US, Italy agree to work together to counter spread of misinformation
CAPRI, Italy : The United States and Italy agreed on Wednesday to coordinate efforts to counter the spread of misinformation and fake news articles by foreign governments.U.S. Secretary of State Antony Blinken and Italian Foreign Minister Antonio Tajani agreed on the new pact during a meeting on the ...
Gigantic marine reptile's fossils found by British girl and father
A fossil jawbone found by a British girl and her father on a beach in Somerset, England belongs to a gigantic marine reptile dating to 202 million years ago that appears to have been among the largest animals ever on Earth.Researchers said on Wednesday the bone, called a surangular, was from a type ...
Fintech Revolut bets on Mexico growth, expects remittances as driver
MEXICO CITY :Financial technology company Revolut expects strong growth prospects in Mexico where it aims to dedicate more than $100 million this year, the firm's top local executive told Reuters, as it looks to take advantage of historic remittance flows. In an interview on Wednesday, Mexico C ...
Microsoft-OpenAI deal set to dodge formal EU merger probe, sources say
EU antitrust regulators have concluded that Microsoft's US$13 billion investment into OpenAI is not an acquisition, sources familiar with the matter said on Wednesday (Apr 17) signalling the deal will avoid a formal European probe that could have led to onerous remedies for the US tech giant.
Exclusive-Billing software firm Zuora explores sale after takeover interest, sources say
NEW YORK :Zuora, which makes subscription management software for businesses, is exploring options that include a sale after receiving acquisition interest from potential suitors, according to people familiar with the matter. Redwood City, California-based Zuora has tapped investment bank Qatalyst P ...
US, Japan, Korea agree to consult on FX as yen, won slide
WASHINGTON :Finance leaders from the United States, Japan and South Korea agreed to "consult closely" on foreign exchange markets in their first trilateral meeting on Wednesday, nodding to concern by Tokyo and Seoul over their currencies' recent sharp declines.The agreement in their f ...
US, Japan, Korea finance chiefs agree to 'consult closely' on FX
WASHINGTON :Finance leaders from the United States, Japan and South Korea agreed to "consult closely" on foreign exchange market developments in their first trilateral meeting on Wednesday.The finance leaders also acknowledged "serious concerns of Japan and the Republic of Korea about ...
Bank of Korea chief signals readiness to deal with volatile currency moves
WASHINGTON : Bank of Korea Governor Rhee Chang-yong said on Wednesday authorities have the resources and tools to smooth out any volatile moves in the country's currency."Our exchange rate deviated a little bit from what could be justified by market fundamentals," Rhee said in referen ...
Microsoft finds Russian influence operations targeting US election have begun
SAN FRANCISCO : Microsoft said on Wednesday that Russian online campaigns to influence the upcoming U.S. presidential election kicked into gear over the past 45 days, but at a slower pace than in past elections.Russia-linked accounts are disseminating divisive content aimed at U.S. audiences, includ ...
Microsoft finds Russian influence operations targeting US election have slowly begun
SAN FRANCISCO : Microsoft said on Wednesday it found Russian online campaigns aimed at influencing the outcome of the upcoming U.S. presidential election kicked into gear over the past 45 days, although the activity is slower than seen around past elections. Researchers at the tech giant said i ...
Cordlife files police report against former employees for ‘potential wrongdoings’
Renald Yeo - CORDLIFE Group has filed a police report on Wednesday (Apr 17) against some of its former employees, following the preliminary findings of an internal investigation conducted by an external consultant.
Banks told to anticipate risks from using AI, machine learning
LONDON : Banks must anticipate risks from using artificial intelligence (AI) and machine learning (ML) in their operations as part of their day-to-day governance, a top global banking regulator said on Wednesday.There are unanswered questions on whether the use of AI or ML in banking is a net positi ...
Meta should give users free option without targeted ads, EU privacy watchdog says
BRUSSELS : Meta Platforms and other large online platforms should give users an option to use their services for free without targeted advertising, EU privacy watchdog the European Data Protection Board said on Wednesday.The EDPB's opinion came after it was asked by national privacy regulators ...
Head of Russian space agency says work under way on modernised Angara rocket
MOSCOW : Russia is working on a modernised Angara-A5M rocket capable of launching manned spacecraft, and plans to launch it in 2027, the head of its Roscosmos state space agency said on Wednesday."Already now, by order of Roscosmos, a modernized Angara-A5M rocket with a more powerful propulsion ...
Jamie Dimon has a new vision for money in an AI world
JPMORGAN chief executive officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world.
Cordlife files police report against group of 'mostly former' employees over storage tank incident
The Edge Singapore - Cordlife Group, following its own probe, has on April 17 lodged a police report against a group of "mostly former" employees over "potential wrongdoings" related to the botched storage tank incident. Citing preliminary findings of an external consultant, there is "preliminar ...
Liberalise South-east Asia’s energy sector to attract more private finance: BlackRock official
Janice Lim - SOUTH-EAST Asia needs to adopt a market-based approach towards its energy sector to attract more private capital into the region’s energy transition, said Philipp Hildebrand, vice-chairman of asset manager BlackRock.
Japan's Uniqlo opens Rome store as part of European expansion
ROME : Japan's Uniqlo will open the doors on its new Rome store on Thursday, an important part of plans by owner Fast Retailing to further accelerate growth in Europe and North America.Its second store in Italy and one of five new openings planned for Europe in the spring-summer season, the Rom ...
Meta, others should give users free option without targeted ads, EU privacy watchdog says
BRUSSELS :Meta Platforms and other large online platforms should offer users the option to use their services for free without targeted advertising, the EU privacy watchdog said on Wednesday, responding to the company's paid ad-free service that has triggered criticism.The U.S. tech giant launc ...
EU privacy watchdog opposes Meta's fee model, says source
BRUSSELS :Meta Platforms is set to be told by the EU's privacy watchdog that it cannot charge users a fee to ensure their privacy, a person with direct knowledge of the matter said.Meta's no-ads subscription service, which applies to Facebook and Instagram and launched in Europe in Novembe ...
Pacific International Lines posts US$277.6 million earnings for FY2023, expects to stay profitable in FY2024
Tay Peck Gek - SINGAPORE container carrier Pacific International Lines (PIL) posted US$277.6 million in net profit for FY2023 – about 10 per cent of its FY2022 earnings of US$3 billion – as freight rates tumbled.
Michelin challenges EU’s hunt for evidence of tyre cartel
MICHELIN is challenging the legality of European Union antitrust raids on its facilities as regulators swept across the tyre industry for evidence of a suspected price-fixing cartel.
US dollar edges down but still close to 5½ month high; Fed, Middle East in focus
THE US dollar edged down but was near 5½-month highs on Wednesday (Apr 17) as Federal Reserve officials reiterated the rate-cutting cycle was on hold pending new economic data, while the pricing of the monetary easing outlook for G10 central banks was roughly unchanged.
Dollar edges down but still close to 5½ month high; Fed, Middle East in focus
THE dollar edged down but was near 5½-month highs on Wednesday (Apr 17) as Federal Reserve officials reiterated the rate-cutting cycle was on hold pending new economic data, while the pricing of the monetary easing outlook for G10 central banks was roughly unchanged.
First Resources denies allegations of links to firms clearing forests in Indonesia
Renald Yeo - PALM oil producer First Resources has denied allegations that it is linked to a network of companies accused of clearing rainforests in Indonesia.
Powell's US rates warning means headaches for rest of the world
Bloomberg - Federal Reserve Chair Jerome Powell is making life tougher for his peers around the world as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere. Powell on Tuesday signalled the Fed will wait longer than previously anticipated to cut borrowing costs following ...
US: Wall St opens higher on megacaps boost; earnings, Fed comments
WALL Street’s main indexes opened higher on Wednesday (Apr 17) bolstered by megacap growth stocks and as more corporate earnings rolled in, while investors awaited commentary from Federal Reserve policymakers for clues on the state of the economy.
One of MAS’s two coal plant retirement pilots provides first update since COP28
null - The first Coal to Clean Credit Initiative (CCCI) pilot project under consideration in the Philippines could avoid up to 19 million tonnes of carbon dioxide emissions, announced the Philippines-headquartered Acen Corporation and The Rockefeller Foundation on April 17. The CCCI aims to unlock carbon f ...
Abbott beats quarterly profit estimates on strong medical device sales
ABBOTT Laboratories beat Wall Street estimates for quarterly profit on Wednesday (Apr 17) and raised the lower end of its forecast, as robust demand for medical procedures boosted sales of its devices, including its glucose-monitoring products.
Semiconductor equipment maker ASML ships second 'High NA' EUV machine
AMSTERDAM : ASML, the biggest supplier of equipment to computer chip makers, said on Wednesday said it has shipped one of its newest "High NA" EUV lithography systems to a second customer.ASML, which shipped one High NA tool to Intel in December-January, did not identify the second custome ...
New tariffs on Chinese metals won't impact inflation, White House says
WASHINGTON : Sharply higher tariffs on Chinese metal products being considered by the Biden administration would not affect U.S. inflation and are necessary for national security, White House economic adviser Jared Bernstein said on Wednesday."If we don't take action, we're putting at ...
Tesla asks investors to approve Musk’s US$56 billion pay again
TESLA will have shareholders vote again on its compensation package for Elon Musk after a Delaware court voided the US$56 billion award arranged for the chief executive officer in 2018.
Mobileye set to ship at least 46 million new assisted driving chips
ISRAELI automotive tech company Mobileye said on Wednesday (Apr 17) it had secured orders to ship 46 million of its EyeQ6 Lite assisted-driving chips over the next few years as automakers race to make cars safer and easier to drive.
