Culture
Spacex sets US$800 billion valuation, confirms 2026 IPO plans
The Musk-led company is targeting a valuation of about US$1.5 trillion for the entire company SpaceX has authorised an insider share sale…
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Culture
Culture
FMC to launch restructuring plan, targets plant closures and Asia cost cuts
Agrichemicals firm FMC said on Friday (Dec 12) that its board has approved a restructuring plan, aimed at cutting costs, shutting down…
Culture
China is ‘rejecting’ Nvidia’s H200 chips, outfoxing US strategy, David Sacks says
China is weighing a package of incentives worth as much as US$70 billion to support its local chipmaking industry China has figured out…
Culture
Chinese AI euphoria obscures a gloomier technological reality
Washington and its allies are not supplying the country with the gear required to make the most sophisticated AI chips Moore Threads…
Culture
US regulator grants crypto firms initial approval to launch trust banks
The regulator still has to sign off with a final stamp of approval before each of the trust banks can begin to operate Crypto giants,…
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Bitcoin hoarding company Strategy remains in Nasdaq 100
Bitcoin hoarding giant Strategy clung to its place in the Nasdaq 100 on Friday (Dec 12), continuing its year-long stint in the benchmark…
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Musk’s X posts higher sales amid costly turnaround
Sales at Elon Musk’s X jumped during the third quarter, but the social network is still dealing with significant costs – including from…
Culture
Intel nears US$1.6 billion deal for AI chip startup SambaNova
Intel is in advanced talks to acquire artificial intelligence (AI) chip startup SambaNova Systems for about US$1.6 billion, including…
Culture
Ghost oil ships dock in Venezuela, showing challenge for US
The International Energy Agency estimates the current oversupply at a record 3.8 million barrels a day Two so-called ghost oil ships are…
Culture
Oracle denies report on OpenAI data centre delays
Oracle denied on Friday (Dec 12) a media report that it was delaying OpenAI-related data centres, following investor worries over its…
Culture
Google faces 110 million euros French asset freeze after Russian ruling, documents show
[PARIS/MOSCOW] The administrator of Google’s defunct Russian business has obtained a temporary freeze on some 110 million euros (S$167…
Culture
Fed officials split over risks to US economy going into 2026
The Fed cut its benchmark rate by a quarter percentage point for a third consecutive meeting in response to rising unemployment US Federal…
Culture
Oil posts weekly loss on oversupply concerns
IEA forecasts published on Thursday indicated that global oil supply will exceed demand by 3.8 million barrels per day next year Oil…
Culture
Wall Street ends lower; fears of AI bubble and inflation send investors away
Other companies that have benefited from AI bets but went into reverse on Friday included SanDisk The S&P 500 and the Nasdaq closed down…
Culture
AI jitters knock Stoxx 600 lower, wiping out early-week gains
Investors also favour a likelihood of White House economic adviser Kevin Hassett becoming the next Fed chair, a scenario that could lead…
Culture
In Depth: China bad-debt managers’ bet on bank stocks could backfire
A NEW player has emerged in the boardrooms of China’s major banks: the “Big Four” state-owned asset management companies (AMCs) created to…
Culture
Hutchison Port Holdings’ Shenzhen port land appropriated by municipal government for 15.6 million yuan
The trustee-manager of Hutchison Port Holdings Trust (HPH) on Friday (Dec 12) said that land currently held by one of its subsidiaries…
Culture
OUE Reit secures S$100 million unsecured loan facility
Proceeds will be used for capital expenditure, working capital and general funding purposes OUE Real Estate Investment Trust (OUE Reit)…
Culture
OUE Reit gets S$100 million unsecured loan facility
Proceeds will be used for capital expenditure, working capital and general funding purposes OUE Real Estate Investment Trust (OUE Reit)…
Culture
Singapore stocks gain more ground on Friday; STI up 1.5%
Singapore stocks ended higher on Friday (Dec 12), extending gains from the previous day. The benchmark Straits Times Index (STI) rose 1.5…
Culture
ST Engineering’s US subsidiary named in lawsuit over UPS plane crash
The lawsuit alleges negligence in maintenance checks by ST Engineering subsidiary VT San Antonio Aerospace ST Engineering’s United States…
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ST Engineering’s US unit among defendants in UPS plane crash lawsuit
Lawsuit alleges negligence in maintenance checks by subsidiary VT San Antonio Aerospace ST Engineering’s United States subsidiary, VT San…
Culture
Foxconn to invest US$510 million in Kaohsiung headquarters in Taiwan
Foxconn, the world’s largest contract electronics maker, said on Friday (Dec 12) it will invest US$509.94 million to build its Kaohsiung…
Culture
Ringgit hits three-year high against Singdollar, four-year high versus greenback
It is Asia’s best-performing currency this year as Malaysia’s robust macro fundamentals drive optimism for unit The ringgit hit a…