Blink Charging to cut 14% of global workforce as part of cost reduction plan
:Electric vehicle charging equipment maker Blink Charging said on Tuesday it would lay off about 14 per cent of its global workforce, as part of a cost reduction plan.The job cuts would result in annualized savings of about $9 million and would be completed in the first quarter of 2025, the company ...
Microsoft, BlackRock to launch $30 billion fund for AI infrastructure
:BlackRock and Microsoft plan to launch a more than $30 billion fund to invest in artificial intelligence infrastructure to build data centers and energy projects, the companies said on Tuesday.AI models, especially those used for deep learning and large-scale data processing, require substantial co ...
Microsoft and BlackRock to launch $30 billion fund for AI infrastructure
:BlackRock is planning to launch a more than $30 billion artificial intelligence investment fund with Microsoft to build data centers and energy projects to meet growing AI-related demands.MGX, the Abu Dhabi-backed investment company, will be a general partner in the fund, while AI chip firm Nvidia ...
EA confident about annual bookings, announces new 'Battlefield' title
Videogame publisher Electronic Arts said it expects to achieve the high end of its annual bookings forecast and unveiled the next installment of its multi-player shooter game "Battlefield" at its investor day conference on Tuesday.The new title will mark a return to the modern-day setting, ...
Musk's Neuralink gets FDA's breakthrough device tag for 'Blindsight' implant
:Elon Musk's brain-chip startup Neuralink said on Tuesday its implant aimed at restoring vision received the U.S. Food and Drug Administration's "breakthrough device" designation.The FDA's breakthrough tag is given to certain medical devices that provide treatment or diagnos ...
Trump's media stock falls before insider trading restrictions lift
Shares of Donald Trump's media company fell for a second session on Tuesday ahead of the end of restrictions on share sales by the former U.S. president and other insiders.Trump Media & Technology Group, which is 57 per cent owned by the Republican presidential candidate, fell 3.6 per cent, ...
US Steel CEO confident Nippon Steel deal will close "on its merits"
U.S. Steel CEO David Burritt said on Tuesday he was confident Nippon Steel's $14.9 billion bid for his company would "close on its merits," despite political opposition and concerns raised in a national security review.Burritt, speaking at the Detroit Economic Club, described the revi ...
WorldFirst: Empowering Singapore SMEs to go global with seamless digital payments
WorldFirst - An increasing number of local businesses in Singapore have chosen to expand internationally in recent years. Enterprise Singapore reports a 66% increase in companies entering new markets in 2023 compared to 2019. This desire to expand to other markets is a sentiment echoed in the latest Deloitte-Wor ...
JPMorgan in talks with Apple over Goldman credit card partnership, source says
:JPMorgan Chase is in talks with Apple about replacing Goldman Sachs as the tech giant's credit-card partner, a source familiar with the matter said on Tuesday.The discussions started earlier this year and have advanced in recent weeks, but any potential deal could still be months away, said th ...
JPMorgan in talks with Apple to take over its credit card program, WSJ reports
:JPMorgan Chase is talking with Apple about taking over the tech giant's credit-card program from Goldman Sachs, the Wall Street Journal reported on Tuesday.The discussions started earlier this year and have advanced in recent weeks, but a deal could still be months away, the report said, citin ...
Flutter bets on Italian gambling market with $2.6 billion Snaitech deal
:Flutter said on Tuesday it would buy Italy's Snaitech for 2.3 billion euros ($2.6 billion) including debt from gambling technology group Playtech, cementing its leading position in Europe's largest gambling market.The deal is to close by the second quarter of 2025 and will add to earnings ...
Luckin Coffee to buy US$2.5 billion worth of Brazilian coffee
CHINA’S Luckin Coffee is set to announce later this year an agreement with Brazil to buy some US$2.5 billion worth of coffee from the South American country’s producers, a Brazilian official said on Tuesday (Sep 17).
SGX clarifies that CEO Loh Boon Chye’s pay was unchanged at S$7.57 million in FY2024
Tessa Oh - IN AN unusual move, the Singapore Exchange (SGX) updated chief executive officer Loh Boon Chye’s remuneration amount in its annual report, a day after it was released.
Chinese insurance broker Yuanbao files for US IPO amid reviving investor appetite
CHINESE insurance broker Yuanbao on Tuesday (Sep 17) filed for an initial public offering in the US, signalling a broader recovery in investor appetite for new listings.
US dollar strengthens ahead of expected Fed rate cut
NEW YORK :The U.S. dollar strengthened against most major currencies on Tuesday following better-than-expected retail sales data that seemed to support a less aggressive stance by the Federal Reserve, which is widely expected to deliver its first interest rate cut in more than four years.Commerce De ...
US dollar strengthens ahead of Fed rate cut move
NEW YORK :The U.S. dollar strengthened against most major currencies on Tuesday following better-than-expected retail sales data that seemed to support a less aggressive stance by the Federal Reserve when it delivers a much expected interest rate cut.Commerce Department data showed on Tuesday that U ...
US Fed begins two-day meeting set to end with rate cut
THE US Federal Reserve began a two-day interest rate discussion on Tuesday (Sep 17) that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease.
FAA seeks to fine SpaceX $633,000 over 2023 launch requirements
WASHINGTON :The Federal Aviation Administration said Tuesday it proposing to fine Elon Musk's SpaceX $633,000 for allegedly failing to follow license requirements and not getting approval for changes during two launches in 2023.The FAA said SpaceX failed to get approval to revise its communicat ...
FAA proposes to fine SpaceX $633,000 over 2023 launch requirements
WASHINGTON : The Federal Aviation Administration said Tuesday it proposing to fine SpaceX $633,000 for allegedly failing to follow license requirements and not getting approval for changes during two launches in 2023.The FAA said SpaceX failed to get approval to revise its communications plan relate ...
Boeing, union negotiators to meet as striking workers dig in
NEGOTIATORS at Boeing and its largest union are due to resume talks over a labour contract on Tuesday (Sep 17), as the planemaker seeks to bring a swift end to a strike that is costing the indebted company an estimated US$100 million a day.
The Edge Singapore takes home two awards at the SIAS Investors' Choice Awards 2024
The Edge Singapore - The Edge Singapore bagged two awards at the Investors' Choice Awards (ICA) on Sept 17, organised by the Securities Investors Association (Singapore) (SIAS). Associate editor Samantha Chiew won the Financial Journalist of the Year Award. Chiew’s cover story “Is the Singapore telco market hea ...
Singapore regulators not tough enough on firms that break the law: governance body
Janice Lim - SINGAPORE companies that do not comply with regulatory standards or committed commercial crimes are not sanctioned adequately by regulators and enforcement agencies, said Amar Gill, secretary-general of the Asian Corporate Governance Association (ACGA).
US regulator proposes strengthened rules for banks working with fintechs
:A top U.S. banking regulator on Tuesday proposed that banks bolster recordkeeping requirements for accounts held by fintech companies on behalf of their customers, following the collapse of bank-fintech middleman Synapse Financial Technologies earlier this year that led to the freezing of thousands ...
US regulator to propose strengthened rules for banks working with fintechs
A top U.S. banking regulator is set to propose that banks bolster recordkeeping requirements for accounts held by fintech companies on behalf of their customers, following the collapse of bank-fintech middleman Synapse Financial Technologies earlier this year, which led to the freezing of thousands ...
US industrial production data jumps sharply in August
US INDUSTRIAL production surged in August as motor vehicle manufacturing bounced back after plummeting in July, the Federal Reserve said Tuesday (Sep 17), shortly before kicking off a two-day meeting on interest rates.
Former gaming executives raise US$100 million for new consumer VC fund
VENTURE capital company Patron has raised US$100 million for a new fund that will focus on young consumer-facing companies, with a particular focus on technologies inspired by gaming.
US: Wall Street opens higher after retail sales data, Fed decision in focus
WALL Street’s main indexes opened higher with the benchmark S&P 500 close to its intraday record high, ahead of the Federal Reserve’s policy meeting starting on Tuesday (Sep 17), after data signalling a healthy consumer allayed worries of a sharp slowdown in the US economy.
Centurion Corp joint chairman Loh acquires 300,000 new shares; ups stake to 58.6%
Ashley Lo - The joint chairman and executive director of Centurion Corporation OU8 , Loh Kim Kang David, has acquired 300,000 shares of the company for $222,000, or 74 cents apiece, according to a Sept 17 filing on the Singapore Exchange S68 S68 SINGAPORE EXCHANGE LIMITED BANKING & INVESTMENT SERVICES More ...
Centurion Corp CEO acquires 300,000 new shares; ups stake to 58.6%
Ashley Lo - The CEO of Centurion Corporation OU8 , Loh Kim Kang David, has acquired 300,000 shares of the company for $222,000, or 74 cents apiece, according to a Sept 17 filing on the Singapore Exchange S68 S68 SINGAPORE EXCHANGE LIMITED BANKING & INVESTMENT SERVICES More on Ask Edge (SGX). Following the ...
Olam Group subsidiary obtains JPY46.5 bil medium-term samurai loan facility
Ashley Lo - Olam Group Limited’s wholly-owned subsidiary Olam Food Ingredients (ofi) has secured a JPY46.5 billion ($427.2 million) medium-term samurai loan facility. The facility has Olam Treasury as a borrower and comprises a three-year tranche. Proceeds from the facility will be applied towards refinanci ...
China’s Lenovo to make AI servers in India, opens new AI-centric lab
CHINA’S Lenovo Group will start making artificial intelligence (AI) servers at its plant in southern India and opened an AI servers-focussed R&D lab in the tech hub of Bengaluru, the electronics hardware maker said on Tuesday (Sep 17).
Catalist-listed Serial Achieva enters JV with A-Speed Infotech to establish new info-tech company
Ashley Lo - Catalist-listed Serial Achieva has entered into a joint venture agreement with A-Speed Infotech to establish a joint venture company, Achieva Tech Allianz (Achieva Tech). Achieva Tech will focus on the business of the distribution of information technology products and peripherals, as well as syst ...
Google takes Chile data center plans back to square one on environmental concerns
SANTIAGO : Google will rework from scratch its plans to build a $200 million data center in Santiago after concerns were raised about its environmental impact on the Chilean capital, the U.S. tech giant said in a statement on Tuesday.In February, a local environmental court partially reversed a 2020 ...
Intuit releases enterprise suite of financial products to tap new customers
TurboTax maker Intuit said on Tuesday it has released a new customizable enterprise suite of its financial products in the United States to capture new customers looking for an all-in-one solution for managing their financial needs.Enterprise customers are increasingly looking to invest in AI-powere ...
