Culture
Six Wall Street bank chiefs hold most power since global crisis
The last time every major US bank boss also led their boards, Steve Jobs was launching the first iPhone and Bear Stearns had a market…
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Culture
Culture
Stocks to watch: ST Engineering, UOI, Suntec Reit, OUE Reit, mm2 Asia
The following companies saw new developments that may affect trading of their securities on Friday (Oct 24): Source link
Culture
Anthropic to use Google’s AI chips worth tens of billions to train Claude chatbot
ANTHROPIC is expanding its deal with Google to use as many as one million of the tech giant’s artificial intelligence chips, worth tens of…
Culture
US weighs quantum computing boost in effort to counter China
The effort shows how far the administration is willing to take its mandate to combat the rise of geopolitical rivals such as the Asian…
Culture
Keppel DC Reit’s 9-month distributable income rises 55.5%
Keppel DC Reit reported distributable income of S$195.3 million for the nine months ended Sep 30, up 55.5 per cent from S$125.6 million a…
Culture
Intel beats third-quarter profit estimates as cost cuts, investments pay off
INTEL beat expectations for September-quarter profit as CEO Lip-Bu Tan’s drastic cost-cutting measures helped the chipmaker shore up its…
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Blackstone profits soar but lower rates bring scrutiny to credit
The US$1.2 trillion firm is a giant non-bank lender in its own right, with credit dominating flows in the third quarter Blackstone sent…
Culture
Apple begins shipping AI servers from Houston factory
Apple has started shipping artificial intelligence servers built in a factory in Houston, it said on Thursday, part of the company’s plans…
Culture
Apple loses landmark UK lawsuit over app store commissions
Apple abused its dominant position by charging app developers unfair commissions, a London tribunal ruled on Thursday, in a blow which…
Culture
Binance founder Zhao wins Trump pardon in latest clemency
The pardon has been widely anticipated by friends, associates and the cryptocurrency industry at large Binance co-founder Zhao Changpeng…
Culture
Target to eliminate 1,800 roles, 8% of headquarters team
Target is eliminating about 8 per cent of corporate roles in its first major restructuring in years, according to a memo viewed by…
Culture
Putin defiant after Trump sanctions Russian oil majors over Ukraine
Russian President Vladimir Putin remained defiant on Thursday after US President Donald Trump hit Russia’s two biggest oil companies with…
Culture
Applied Materials to cut 4% of global staff after sales slow
Applied Materials, the largest US producer of chipmaking equipment, plans to cut 4 per cent of its global workforce as it copes with a…
Culture
US: Wall Street ends higher amid mixed earnings, Trump-Xi meeting confirmed
Wall Street advanced on Thursday as investors mulled a mixed batch of corporate earnings and shifting geopolitical concerns. All three…
Culture
Oil surges 5% after US sanctions Russian firms Rosneft, Lukoil
Oil prices surged around 5 per cent to a two-week high on Thursday after the US imposed sanctions on major Russian suppliers Rosneft and…
Culture
Europe: Stoxx 600 closes at record high on energy boost, earnings in focus
THE Stoxx 600 index closed at a record high on Thursday, led by gains in energy stocks after the US imposed new sanctions on Russia, while…
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US bank reserves fall second week, extend drop below US$3 trillion
The drop comes as the Treasury has ramped up debt issuance to rebuild its cash balance following the increase in the debt ceiling in July…
Culture
Nokia CEO Hotard compares AI surge to 1990s internet boom, but plays down bubble fears
Hotard’s remarks come amid growing debate over whether the surge in AI investment is sustainable [ESPOO, Finland] Nokia’s CEO Justin…
Culture
Indonesia launches 6 billion yuan dim sum bond, to be listed on SGX
The bond offers yields of 2.5% on five-year notes and 2.9% on the 10-year tranche Indonesia has launched its debut offshore…
Culture
Rivian to cut 600 jobs as loss of EV tax credit hits demand: source
[IRVINE, California] Rivian Automotive will lay off employees as the electric-vehicle maker contends with weakening demand following the…
Culture
Standard Chartered issues payment demand to mm2 Asia units over S$905,000 debt
Standard Chartered has issued letters of demand to two associated companies of entertainment group mm2 Asia, seeking repayment of…
Culture
US: Wall Street opens flat as Tesla, IBM results underwhelm
Wall Street opened flat on Thursday (Oct 23) as lacklustre earnings from Tesla and IBM dampened investor mood, while brewing trade…
Culture
Prada sales rise, boosting hopes of luxury sector recovery
Net sales rose to 4.07 billion euros (S$6.13 billion), a 6.3% increase year-on-year Prada sales rose in the first nine months of year as…
Culture
Expect to keep paying record prices for coffee
President Trump’s tariffs obscure another major factor driving up coffee prices: climate change Americans have been paying more for a cup…