Posts by Mark Darwin
Snap gains on results suggesting ad revamp is working
SNAP reported third-quarter revenue that slightly topped analysts’ expectations, suggesting the overhaul of its advertising business is catching on with marketers. The shares rose in extended trading. Sales increased 15 per cent to US$1.37 billion in the period ended Sep 30, Snap said on Tuesday (Oct 29). Analysts, on average, estimated US$1.36 billion, according to…
Read MoreSamsung’s sudden US$122 billion wipeout shows the cost of sleeping on AI
JUST a few months ago, Samsung Electronics looked primed to benefit from the global artificial intelligence (AI) boom: profits were surging and its stock was rising towards an all-time high. Now, South Korea’s biggest company has become a stark example of how quickly fortunes can turn in an industry where the spoils go to those…
Read MoreVisa, Coinbase offer real-time crypto purchases via debit cards
VISA customers with eligible debit cards will be able to deposit funds into their Coinbase Global accounts – sometimes instantly – via a partnership announced by the payments giant and crypto exchange. Coinbase already has millions of connections to customers’ debit cards but this new development allows for the real-time flow of funds for customers…
Read MoreEuropean car safety agency snubs BYD’s Atto 3 driver assistance system
EUROPE’S car safety agency has issued a “not recommended” rating to the driver assistance system used in BYD’s Atto 3 EV, dealing a blow to the Chinese automaker as it strives to expand on the continent. The model scored zero on driver monitoring features and performed poorly in preventing undertaking at speeds over 90 kilometres…
Read MoreFar East Hospitality Trust’s Q3 net property income falls 6.8% to S$26.2 million
FAR East Hospitality Trust (FEHT) posted a net property income of S$26.2 million for the third quarter ended Sep 30, down 6.8 per cent from S$28.1 million in the previous corresponding period. This comes amid higher property taxes and lower revenue for the quarter mainly due to an absence of a one-off contribution from the…
Read MoreBOJ to sit tight as Japan and US elections elevate uncertainty
THE Bank of Japan (BOJ) is widely expected to stand pat on Thursday (Oct 31) in the face of elevated uncertainty, as financial markets brace for the US presidential election after Japan’s polls resulted in a lack of clarity over its next government. Governor Kazuo Ueda and his fellow board members are set to keep…
Read MoreMicrosoft’s GitHub unit cuts AI deals with Google, Anthropic
MICROSOFT’s GitHub has agreed to bake artificial intelligence (AI) models from Anthropic and Alphabet’s Google into a coding assistant used by millions of software developers. At first, customers will be able to use Google’s Gemini and Anthropic’s Claude 3.5 Sonnet to chat and ask questions, GitHub said on Tuesday (Oct 29) at its Universe conference…
Read MoreCompanies must consider FX exposure risks when tapping South-east Asia’s rapid growth
FOR any company, the Asean economic bloc represents a business opportunity that cannot be ignored. The 10 countries that make up the Association of Southeast Asian Nations have a combined population of 684 million people and a gross domestic product of US$3.8 trillion, making it the world’s fifth-largest economy. These countries are also growing rapidly:…
Read MoreJPMorgan reclaims top spot from Bank of America in analyst poll
JPMorgan Chase was voted the best US sell-side research firm in a widely followed investor survey, reclaiming the top spot that bank occupied for most of the past decade. Bank of America, which ended JPMorgan’s seven-year lead in 2023, slipped to the second place in the latest survey by Extel, formally known as Institutional Investor.…
Read MorePfizer’s Covid-19 drug powers strong quarterly profit as activist hovers
Pfizer, which is under pressure from activist investor Starboard, on Tuesday (Oct 29) topped third-quarter estimates as sales of its Covid-19 treatment Paxlovid blew past Wall Street expectations. The US drugmaker has struggled with a sharp fall in sales of its Covid vaccine and antiviral pill Paxlovid from pandemic levels, prompting it to launch a…
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