Posts by Mark Darwin
GM to wind down robotaxi operations championed by CEO Barra
GENERAL Motors’ (GM) Cruise self-driving car unit will exit the robotaxi business, a retreat from a market that proved costly and full of reputational pitfalls for the automaker. Cruise and GM’s technical teams will be combined into a single effort focused on developing autonomous technology to offer in future models sold by GM, according to…
Read MoreWhat is a Fat Tax? The Question Taking Over the Internet
In today’s society, obesity has become a prevalent public health issue affecting people of all ages and backgrounds. With approximately 70% of adults in the United States being overweight and about one-third classified as obese, it is clear that urgent measures are needed to address this epidemic (source). One proposed solution to combat obesity is…
Read MoreGoogle invests in venture to build energy parks for data centres
ALPHABET’S Google is investing in mega energy parks that will generate renewable power as the company races to fuel its data centres. The technology behemoth entered into a partnership with Intersect Power, an independent power producer, and investment firm TPG Rise Climate LP to design and build big energy plants next to data centre campuses,…
Read MoreNippon Life in talks to buy Resolution Life in deal worth US$8.2 billion
NIPPON Life Insurance is in the final stages of buyout talks with US life insurer Resolution Life Group Holdings, Resolution said on Tuesday (Dec 10), in what would reportedly be a US$8.2 billion deal that highlights Japanese insurers’ hunt for growth in the world’s biggest economy. The acquisition, which was first reported by the Nikkei…
Read MoreFitch Ratings upgrades Astrea VI Class A-2 bonds
Ratings agency Fitch Ratings has upgraded the private equity (PE) backed Astrea VI Class A-2 bonds, part of a few tranches of Astrea bonds that were in high demand when launched. The bonds, which are denominated in US dollars, have been upgraded from “Asf” to “A+sf”, issuer Azalea 8 said in a statement on Tuesday…
Read MoreCrypto volatility picks up as Trump-fueled rally starts to fray
A BOUT of selling buffeted crypto as the optimism sparked by president-elect Donald Trump’s embrace of the sector begins to cool. Bitcoin fell below US$95,000 at one point on Tuesday (Dec 10), while an index of smaller digital assets slid as much as 15 per cent, one of its biggest intraday drops of 2024. Speculators…
Read MoreSingapore Institute of Advanced Medical Holdings flagged over uncertainties about staying afloat
External auditors note the presence of material uncertainties that could cast significant doubt on its ability to continue as a going concern THE Singapore Institute of Advanced Medical Holdings (SIAMH) announced that external auditors of the company issued a disclaimer of opinion on the group’s results for the financial year ended Jun 30. In a…
Read MoreWhat Happens If You Lose a Check?
Losing a check can be a stressful experience, whether it’s a paycheck or a payment you sent. It raises many questions, especially if you wonder, “I lost my check, can someone cash it?” Understanding the risks and knowing the right steps to take can help you regain control and protect your finances. This article will…
Read MoreBank stocks drive Singapore shares higher on Tuesday; STI up 0.5%
Across the broader market, losers outnumber gainers 277 to 255 after 1.2 billion securities worth S$1.1 billion change hands SINGAPORE stocks closed Tuesday (Dec 10) in a positive territory, boosted by gains of local banks. The Straits Times Index (STI) rose 0.5 per cent or 18.63 points to 3,813.55. Across the broader market, losers outnumbered…
Read MoreReliance Industries seeks up to US$3 billion loan for refinancing
BILLIONAIRE Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of as much as US$3 billion to refinance debt due next year, according to sources familiar with the matter. About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in…
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