Posts by Mark Darwin
Meta and Spotify blast EU decisions on AI
A GROUP of companies including Meta and Spotify blasted the European Union on Thursday for its “fragmented and inconsistent” decision-making on data privacy and artificial intelligence (AI). The firms along with several researchers and industry bodies signed an open letter claiming that Europe was already becoming less competitive and risked falling further behind in the…
Read MoreChina says will negotiate ‘until the last minute’ on EU EV probe
CHINA’S commerce minister said on Wednesday (Sep 18) that Beijing will continue to negotiate “until the last minute” on the European Union’s electric vehicle (EV) probe, with the investigation undermining confidence of Chinese companies investing in Europe. Wang Wentao was speaking in Brussels at a China-Europe Electric Vehicles event where around 30 top executives of…
Read MoreHot stocks: US office S-Reits rise on Federal Reserve’s rate cut
PURE-PLAY US office real estate investment trusts (Reits) listed in Singapore were trading in positive territory on Thursday (Sep 19) morning, following interest rate cut of 50 basis points by the US Federal Reserve. Manulife US Reit (MUST) hit a high of US$0.135 shortly after the market opened, gaining 8.9 per cent or US$0.011. Prime…
Read MoreGold flat after bumper Fed rate cut
GOLD struggled for momentum on Thursday (Sep 19) as market participants digested Federal Reserve chair Jerome Powell’s comments after the US central bank delivered a super-sized rate cut. Spot gold was little changed at US$2,558.00 per ounce, as at 0033 GMT. Bullion rose to a record high of US$2,599.92 on Wednesday before closing lower. US…
Read MoreUpdate makes X available again to many in Brazil
SOCIAL-MEDIA platform X became accessible to many users in Brazil on Wednesday (Sep 18) as an update to its communications network circumvented a block order by the country’s Supreme Court. The X update used cloud services offered by third parties, allowing some Brazilian users to take a route outside of the country to reach X,…
Read MoreLondon house prices defy national mood with drop in July
HOUSE prices in London backtracked in July as uncertainty around the tax plans of the new Labour government weighed on sentiment in the capital. The average price of a home fell 0.4 per cent in the year till July to £521,000 (S$891,747), according to Land Registry data reported by the Office for National Statistics (ONS).…
Read MoreTupperware lenders fight over assets, including brand name
UNTIL Tuesday (Oct 17), Tupperware had been a familiar, but fading, American brand, synonymous with storing leftovers in the fridge. Now, the name Tupperware itself stands to grow even more stale as lenders fight each other and the company in bankruptcy court. Tupperware Brands filed for Chapter 11 protection on Tuesday in Wilmington, Delaware. The…
Read MoreBarclays expands industrial franchise with US hires, promotion
BARCLAYS is expanding its investment banking franchise in North America with two hires and a promotion in its industrial practice. The bank hired Derek McNulty as global co-head of chemicals investment banking, Derek Davidson as head of Americas commercial, residential and industrials services and named Jared Itkowitz as head of Americas transportation and logistics, according…
Read MoreCordlife’s business reset may give minority shareholders the best chance to bail out fast
There is much uncertainty for the company’s minority shareholders amid substantial shareholder dispute, possible lawsuits CORDLIFE Group has been granted a reprieve, following the Ministry of Health’s (MOH) notice on Aug 29 that it could resume some cord-blood banking services in a “controlled manner” from Sep 15. Although this signals that things could be getting…
Read MoreEU says no merger scrutiny of Microsoft’s hiring of Inflection staff
MICROSOFT’S hiring of artificial intelligence startup Inflection’s staff including its co-founders will not be scrutinised under European Union merger rules, EU antitrust regulators said on Wednesday (Sep 18). The European Commission said seven EU countries had dropped their requests asking it to examine the deal. The move followed a ruling from Europe’s top court earlier…
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