Grab’s acquisition of Trans-cab falls through as both parties withdraw
Benjamin Cher - GRAB’S proposed acquisition of Trans-cab has fallen through as both parties have withdrawn their application to the Competition and Consumer Commission of...
No deal: Grab takeover of Trans-cab off after both firms withdraw application to Singapore's competition watchdog
SINGAPORE: A deal for ride-hailing platform Grab to take over taxi operator Trans-cab will no longer go ahead, said Singapore's competition watchdog on Thursday (Jul 25). The Compet
Global tech outage to cost Air France KLM close to $11 million, says CFO
Air France KLM faces a hit of about 10 million euros ($10.85 million) from last week's global technology outage, finance chief Steven Zaat said on Thursday.The group is one of the first airlines to disclose a cost linked to the disruption."The expectation is that it will cost us around 10 ...
Toymaker Hasbro’s turnaround efforts help quarterly sales, profit
HASBRO posted a smaller-than-expected drop in second-quarter sales on Thursday (Jul 25) as steady digital gaming demand offset a slump in toy...
Toymaker Hasbro’s turnaround efforts buoy quarterly results, shares rise
HASBRO posted a smaller-than-expected drop in second-quarter sales and beat profit expectations, helped by cost-control strategies and steady demand for digital gaming,...
India's Tech Mahindra beats Q1 revenue view on demand recovery
BENGALURU : Tech Mahindra, India's fifth-largest IT services firm by revenue, reported a smaller-than-expected fall in first-quarter revenue on Thursday, on the back of demand recovery in its manufacturing and healthcare segments.Consolidated revenue in the first quarter fell 1.2 per cent to 13 ...
India's Tech Mahindra beats Q1 revenue view, expects "better" FY25
BENGALURU : India's Tech Mahindra reported its smallest revenue fall in four quarters on Thursday, helped by its manufacturing and healthcare segments, as the company signalled the return of client spending in its key U.S. market.Consolidated revenue in the first quarter fell 1.2 per cent to 13 ...
Shell to build renewable hydrogen electrolyser in Germany
SHELL said on Thursday (Jul 25) it will build a 100-megawatt renewable hydrogen electrolyser in Germany, the company’s second unit in Europe,...
Daily Debrief: What Happened Today (Jul 25)
Paul Nah SC - Stories you might have missed
Singapore and EU conclude negotiations on digital trade agreement
Sharon See - SINGAPORE and the European Union (EU) have concluded negotiations on a digital trade agreement that will facilitate data flows and digital trade,...
UK watchdog fines Coinbase's CB Payments for poor controls
LONDON : Britain's Financial Conduct Authority (FCA) has fined Coinbase business CB Payments Limited (CPBL) 3.5 million pounds ($4.5 million) for poor anti-money laundering controls, the watchdog's first enforcement action against a company involved in cryptoassets trading.The FCA said on ...
Coinbase UK unit fined for breaching financial crime requirements
LONDON :A Coinbase business in Britain has been fined for breaching a regulatory agreement to improve its defences against financial crime, in the first sanction of its kind in the UK cryptoassets sector.The Financial Conduct Authority (FCA) said on Thursday that CB Payments Limited (CBPL), a gatewa ...
Bank of England allots record £30 billion in weekly repo
THE Bank of England allotted a record £30.359 billion (US$39 billion) on Thursday (Jul 25) in its weekly short-term repo, which is...
Singapore stocks track regional declines on Thursday; STI down 0.9%
Tan Nai Lun - SINGAPORE shares ended lower on Thursday (Jul 25), tracking losses in the region.
Meta oversight board tells company to clean up rules on AI-generated pornography
NEW YORK : Meta's Oversight Board on Thursday said the company's rules were "not sufficiently clear" in barring sexually explicit AI-generated depictions of real people and called for changes to stop such imagery from circulating on its platforms.The board, which is funded by the ...
Trump, Republicans court crypto votes and dollars at 'Bitcoin 2024'
NASHVILLE: Republican nominee and former US President Donald Trump once blasted cryptocurrency, calling it a "scam". Now, he is headlining one of the industry's biggest conferences. Trump, who made the comment in 2021, will speak on Saturday, the last day of the three-day Bitcoin 2024 ...
Revival of Johor-Singapore SEZ: New era of growth?
Nicole Lim - A new attempt to revive the Johor-Singapore Special Economic Zone (JS-SEZ) is underway, aiming to impact the city-state Over a decade ago, Tom (not his real name) purchased a 1,400 sq ft, three-bedroom apartment at Iskandar Residences in Medini Iskandar Malaysia (MIM), Johor, just a 10-minute drive ...
Grab’s acquisition of Chope is just the latest of its efforts to build an F&B presence beyond delivery
Paige Lim - GOING out for the night or getting dinner delivered – these might be contrasting choices, but the Grab app wants to be...
Spotlight falls on data centres as increasing use of AI demands more energy
Nicole Lim - In early July, Google released its 2024 sustainability report, revealing a nearly 50% increase in greenhouse gas (GHC) emissions since 2019, primarily due to data centre energy consumption and supply chain emissions. “As we further integrate artificial intelligence (AI) into our products, reducing ...
Market Focus Daily: Thursday, July 25, 2024 (Ep 110)
Asia markets track tech-led plunge on Wall Street, yen extends gains; Wall Street tumbles in tech sell-off as Nasdaq loses 3.6%; Nikkei...
Insured losses from CrowdStrike outage could reach $1.5 billion, CyberCube says
LONDON: Global insured losses from last week's massive IT outage are likely to range from US$400 million to US$1.5 billion, cyber analytics firm CyberCube said on Thursday (Jul 25). A sof
Global investors scramble to dodge US election curveballs
INVESTORS are scrambling to shore up global portfolios against wild market swings ahead of the Nov 5 US presidential election and backing...
Sustainable Metal Cloud can help data centres achieve up to 40% of cost savings through its cooling technology
Nicole Lim - A company focused on upgrading data centres by offering graphics processing unit (GPU) cloud using direct chip cooling technology, can promise customer savings by 30%-40% compared to an existing data centre build. And, they’ve partnered with Nvidia and Deloitte to expose enterprise clients to AI i ...
UK’s biggest investor LGIM ditches Trump trade on Biden drop out
LEGAL & General Investment Management (LGIM) is bailing on a bet that the Treasury curve will steepen, saying President Joe Biden’s exit...
Singtel unit Nxera and Telkom Malaysia break ground for 65 MW data centre campus in Johor
Benjamin Cher - SINGTEL’S data centre arm, Nxera, and Telkom Malaysia (TM) on Thursday (Jul 25) broke ground for a data centre campus in Iskandar...
Indian banks selling retail loan portfolios as deposits lag
INDIA’S private banks are selling portfolios of retail loans as regulators pressure them to improve credit-deposit ratios.
AstraZeneca raises profit outlook on strong medicines demand
Anglo-Swedish drugmaker AstraZeneca raised its full year sales and profit forecast on Thursday (Jul 25) after beating analyst expectations for second-quarter revenue...
Ether set for biggest daily fall in three months, no US ETF bounce
LONDON : Cryptocurrency ether dropped as much as 7 per cent on Thursday as it got caught up in the broad market sell-off and failed to get a lift from this week's launch of the first U.S. exchange traded funds tracking the currency. The world's second largest cryptocurrency was last down 6 ...
Digital bank Revolut secures UK banking licence
BRITISH fintech company Revolut said on Thursday (Jul 25) it had obtained a long-awaited UK banking licence – but must wait to...
💀 To be, or not to be (an arts major)
Daryl Choo - 😱 Oh, the humanit(ies)!
The global data outage and what it means for CrowdStrike
Assif Shameen - In the wee hours of Friday, July 19, cybersecurity firm CrowdStrike pushed a security patch update to its software that caused some devices running Microsoft’s Windows operating system to crash. Because Windows and Microsoft’s Azure cloud are widely used around the world, as is CrowdStrike’s c ...
Is the SEZ a sure bet or wild card for RWS and RWG?
Khairani Afifi Noordin - The gaming sector is set to benefit from the Johor-Singapore Special Economic Zone (JS-SEZ). With the Rapid Transit System (RTS) Link expected to increase the number of Malaysian day commuters to Singapore, integrated resort (IR) operators in Singapore could see a boost in visitors and gamblers. Bas ...
FCT feels positive and negative vibes from RTS
Goola Warden - The Rapid Transit System (RTS) will link Woodlands North Station on the Thomson East-Coast Line (TEL) and Bukit Chagar Station in Johor. The first trains are likely to start running by the end of 2026. According to MRT Corp, train frequencies are scheduled to be one every 3.6 minutes during peak hou ...
STMicro cuts full-year outlook for second time, shares tumble
CHIPMAKER STMicroelectronics (STM) cut its full-year revenue and margins guidance for a second time on Thursday (Jul 25) as industrial customer orders...
