Posts by Mark Darwin
Adobe forecasts downbeat quarterly earnings on cautious tech spending
PHOTOSHOP maker Adobe forecast fourth-quarter earnings below analysts’ estimates on Thursday (Sep 12), signalling stiff competition and soft demand for its AI-integrated editing tools amid challenging economic conditions. Shares of the company fell 9.2 per cent in extended trading. High interest rates and a tough economy have led enterprises and individuals to focus on cutting…
Read MoreAmazon pours US$2.1 billion into contract delivery, lifting wages
AMAZON.COM plans to spend an additional US$2.1 billion on its contract delivery programme, including safety programmes, training and additional pay for the contracting firms. The company said it expects the outlays to raise average pay for drivers, who pilot Amazon-branded vans but technically work for independent companies that Amazon calls Delivery Service Partners (DSPs), to…
Read MoreOracle sees US$104 billion sales in fiscal 2029 on cloud expansion
ORACLE said annual revenue will rise to at least US$104 billion in fiscal 2029, an optimistic signal on the growth prospects of the software maker’s cloud infrastructure business. Executive vice-president Doug Kehring delivered the forecast on Thursday (Sep 12) at Oracle’s annual briefing for financial analysts. Oracle also raised its sales outlook for fiscal 2026…
Read MoreThe true cost of downtime: Businesses risk losing over $200 million annually in revenue, and customer trust
DID you know that a single downtime event can sink your stock price by up to 9 per cent, taking nearly three months to recover? Or that your top talent is being pulled away from innovation to patch holes and conduct post-mortems? On a personal level, 39 per cent of tech professionals are concerned about…
Read MoreLocal F&B brands buckle down as new entrants take a bite out of bottom line
The rising competition also seen to bring new opportunities for incumbents and new players LOCAL food and beverage (F&B) operators are facing increasing pressure from a flood of new entrants into the market – especially overseas players such as those from China. And some homegrown F&B brands are being forced to innovate – or consolidate.…
Read MoreFDA authorises first OTC hearing aid software to be used in Apple’s AirPods Pro
THE US Food and Drug Administration (FDA) on Thursday (Sep 12) authorised the first over-the-counter (OTC) hearing aid software that is intended to be used with compatible versions of the Apple AirPods Pro headphones. Earlier this week, Apple said its AirPods Pro 2 could now be “transformed” into a personalised hearing aid via an upcoming…
Read MoreEuro gains as ECB’s Lagarde pushes back on October rate cut
The euro rose against the US dollar on Thursday (Sep 12) after European Central Bank (ECB) president Christine Lagarde dampened expectations for an interest rate cut next month and said the bank will let economic data dictate the next policy move. “We are going to decide meeting by meeting,” Lagarde said in a briefing after…
Read MoreMastercard to buy cyber-defence company for US$2.65 billion
MASTERCARD agreed to buy a cyber-defence company Recorded Future for about US$2.7 billion to boost its ability to protect the card company’s massive global payments system. The purchase will expand Mastercard’s ability to use artificial intelligence (AI) in protecting customers from cyber threats and fraud, said a statement on Thursday (Sep 12). It acquired Recorded…
Read MoreUS: Wall St opens muted after hot PPI keeps smaller rate cut in view
Wall Street’s main indexes were subdued at the open on Thursday (Sep 12) as a hot producer prices reading kept a smaller 25-basis point interest rate cut by the Federal Reserve firmly on the table. The Dow Jones Industrial Average fell 0.4 point at the open to 40,862.11. The S&P 500 rose 3.3 points, or…
Read MoreCEO of CLI’s private equity real estate, Simon Treacy, to step down on Oct 31
SIMON Treacy, chief executive officer of private equity real estate at CapitaLand Investment (CLI), will be stepping down from his role effective Oct 31 for “personal reasons”. CLI’s group CEO, Lee Chee Koon, will concurrently lead as CEO of private equity real estate. He will steer the growth of CLI’s private funds business, which will…
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