Posts by Mark Darwin
Cordlife says directors committed to waive fees for FY24; defends choice of auditor ahead of EGM
EMBATTLED cord-blood bank Cordlife said that its remaining directors have committed to waive their directors fees for the financial year ended Dec 31, 2024, in response to questions raised ahead of the company’s extraordinary general meeting (EGM) on Nov 14. The EGM is being called to appoint new auditors and approve its directors’ fees. In…
Read MoreUnion Square Residences sells 20% of units on launch day
PROPERTY developer City Developments (CDL) sold 75 units of the 366-unit Union Square Residences at Havelock Road on Saturday (Nov 9). In a press release from the company on Saturday, it said that the average selling price of the 99-year leasehold property stood at S$3,200 per square foot (psf). This included the 2,476 sq ft…
Read MoreOpenAI’s ChatGPT back up after brief outage
MICROSOFT-backed OpenAI popular chatbot ChatGPT was back up after an outage affected thousands of users, the company said on Friday (Nov 8). “Issues with ChatGPT have now been resolved,” OpenAI said in a statement on its website. Access was restored to most users by 4.34pm PT (0034 GMT on Saturday), OpenAI said, adding that a…
Read MoreDollar on track for weekly gain after Trump election win
THE dollar rose on Friday (Nov 8) and was heading for a weekly gain as investors evaluated the likely impact on the American economy of Tuesday’s election of Republican Donald Trump as US president. Analysts expect Trump’s policy proposals – including more trade tariffs, a clampdown on illegal immigration, lower taxes and business deregulation –…
Read MoreEurope: Shares log third week of declines on China, tariff jitters
EUROPE’S benchmark Stoxx 600 logged its third consecutive week of declines on Friday (Nov 8), hurt by underwhelming stimulus measures from China as well as concerns about tariffs under a Trump presidency hurting economic growth. The pan-European Stoxx 600 closed down 0.6 per cent, with China-exposed sectors such as miners and luxury losing more than…
Read MoreTesla hits US$1 trillion market value as Musk-backed Trump win fans optimism
TESLA’S market value breached the US$1 trillion-mark in a sharp rally on Friday (Nov 8), on growing bets of a favourable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6 per cent to a more than two-year…
Read MoreTikTok hopes for lifeline from President-elect Trump, who once favoured ban
SOME TikTok staff and creators, bracing for a potential ban of the popular video-sharing platform as soon as January, have come to see President-elect Donald Trump as a possible saviour. Trump, who has suggested publicly that he thinks a TikTok ban is a bad idea, could try to thwart a law signed by President Joe…
Read MoreUS: Wall St opens flat as rally from Trump win, rate cut cools
WALL Street opened on a muted note on Friday (Nov 8), as a rally powered by a sweeping Trump win and an expected interest-rate cut paused, with the main stocks indexes set for strong weekly gains. The Dow Jones Industrial Average rose 39.2 points, or 0.09 per cent, at the open to 43768.53. The…
Read MoreMake new friends and boost hiring: How China’s chip industry plans to deal with Trump
CHINA’S semiconductor industry is readying itself for four more combative years under Donald Trump as US president by ramping up purchases of foreign chipmaking equipment and looking out for opportunities to hire overseas talent and forge new alliances. Among the strategies being considered are the pursuit of closer ties with countries and firms that may…
Read MoreTSMC to suspend production of advanced AI chips for China from Nov 11, FT reports
TAIWAN Semiconductor Manufacturing Company (TSMC) has notified Chinese chip design companies that it is suspending production of their advanced AI chips from Nov 11, Financial Times reported on Friday (Nov 8), citing three people familiar with the matter. TSMC has told Chinese customers that it will no longer manufacture AI chips at advanced process nodes…
Read More