Posts by Mark Darwin
A*Star, thermal management company KoolLogix unveil joint lab to develop data centre cooling solutions
It will focus on developing and testing heat removal technologies for data centres that are driven by artificial intelligence and graphic processing units THE Agency for Science, Technology and Research (A*Star) and data centre thermal management company KoolLogix on Tuesday (Dec 3) launched a joint lab to develop cooling solutions for data centres. The joint…
Read MoreChina lifts final trade restrictions on Australian meat processors
CHINA has lifted trade restrictions on two Australian meat processing facilities, allowing the full resumption of red meat exports to the country, the Australian government said on Tuesday (Dec 3). Beijing has now removed restrictions from all 10 Australian abattoirs it banned between 2020 and 2022. The bans were imposed around the time that China…
Read MoreMicroStrategy is halfway through share sales to buy Bitcoin
JUST over a month after announcing plans to raise US$21 billion through stock sales to help fund additional purchases of Bitcoin, MicroStrategy is already almost halfway to its goal. The company sold 3.7 million shares over the past week and used the proceeds to buy another US$1.5 billion worth of Bitcoin, the fourth consecutive weekly…
Read MoreGold edges higher as US rate-cut bets support bullion
GOLD prices edged higher on Tuesday (Dec 3), supported by growing expectations of a US interest rate cut this month, as focus shifted to upcoming economic data for additional insights. Spot gold was up 0.1 per cent at US$2,642.42 per ounce, as at 0103 GMT, after falling as much as 1 per cent on Monday.…
Read MoreDBS hires private bankers for rich Russians as rivals balk
DBS Group Holdings has beefed up its wealth management team to cater to rich Russians at a time when many global rivals are staying away from the business amid concerns over widening sanction risks. Singapore’s biggest lender hired two people in recent months, expanding the number of Russian-speaking private bankers in the city-state to at…
Read MoreSpaceX discusses tender offer at roughly US$350 billion valuation
SPACEX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around US$350 billion, according to sources familiar with the matter. That would be a significant premium to a previously mulled valuation of US$255 billion as reported by Bloomberg News and other media outlets just…
Read MoreNike to shut down virtual sneaker label RTFKT under new CEO
NIKE is shutting down its digital sneaker division RTFKT as the world’s largest athletic-wear company realigns priorities under a new chief executive officer. “Today, we are announcing the plan to wind down RTFKT operations,” the brand said on Monday (Dec 2). It will cease services by the end of January 2025. Nike chief executive officer…
Read MoreSanofi announces biggest China investment deal amid China-EU trade tensions
China is seeking to strengthen economic ties with individual members of the European Union Sanofi plans to invest around US$1.05 billion to build a new insulin production base in Beijing, which will mark the French drugmaker’s largest single investment in China, the company said on Monday (Dec 2). The site, which will be in the…
Read MoreEQT and GIC to acquire majority stake in UK’s Calisen from consortium of investors
PRIVATE equity firm EQT and Singapore’s sovereign wealth fund GIC will acquire a majority stake in UK’s Calisen, more than four years after the smart metering company was taken private by a consortium of investors, they said on Monday (Dec 2). The Financial Times first reported the deal earlier in the day, saying that the…
Read MoreDasin Retail Trust seeks court order to restrain proceedings against it for 6 months
This will prevent any resolution for the winding-up of the company to pass, along with the commencement or continuation of any proceedings against the trust THE trustee-manager of Dasin Retail Trust on Monday (Dec 2) said it has filed an application under the Insolvency, Restructuring and Dissolution Act to restrain proceedings against it for six…
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