Posts by Mark Darwin
Musk wins US court appeal of US$56 billion Tesla pay package
A DELEWARE appeals court cleared the way Friday for tech CEO Elon Musk to receive a long-contested US$56 billion Tesla pay package, reversing an earlier judgment in the long-running case. The decision by the Delaware Supreme Court rejects a pair of judgments by Chancellor Kathaleen McCormick of Delaware’s Court of Chancery and sets the stage…
Read MoreTikTok owner ByteDance on track for US$50 billion profit in 2025
BYTEDANCE is on track for profits of roughly US$50 billion in 2025, capping a record year for a Chinese social media leader making major inroads into e-commerce and new markets. The Beijing-based parent company of TikTok is on track to hit that milestone after amassing net income of about US$40 billion over the year’s first three quarters,…
Read MoreUS stocks: Nasdaq rallies again while yen falls despite BOJ rate hike
RESURGENT artificial intelligence shares lifted the Nasdaq on Friday for a second straight session while the yen retreated despite a Bank of Japan interest rate hike. The tech-forward Nasdaq piled on 1.31 per cent to close at 23,307.62 after a similar gain on Thursday following blowout earnings from chip company Micron Technology. But several leading…
Read MoreREE Medical Guide: How to Choose a Good Disability Claim Company and Avoid Bad Actors
The Department of Veterans Affairs continues to process disability claims at a historic volume. In fiscal year 2024, VA reported completing more than 2.4 million disability compensation claims, a pace that has carried into 2025 as toxic‑exposure and post‑deployment conditions keep surfacing in the system. Even with that throughput, the claims backlog remains large enough…
Read MoreCitadel posts worst return since 2018 as natural gas bets falter
This is partly due to erratic swings triggered by geopolitical turmoil, making trades hard to stick to [NEW YORK] Ken Griffin’s Citadel is on track for its worst annual return since 2018 after wagers on natural gas – previously a major driver of the hedge fund’s profits – fizzled. The flagship fund gained 9.3 per…
Read MoreMaersk completes first Red Sea voyage in nearly two years
The shipping company says it has no plans to fully reopen the route but may gradually resume sailing via Suez and the Red Sea [COPENHAGEN] Danish shipping company Maersk said on Friday (Dec 19) that one of its vessels successfully navigated the Red Sea and Bab el-Mandeb Strait for the first time in nearly two…
Read MoreSias calls on Singapore Paincare to clarify actions after failed privatisation bid
[SINGAPORE] The Securities Investors Association (Singapore), or Sias, called on medical services company Singapore Paincare to clarify its actions after its privatisation bid failed earlier this month. The move is in light of the impact the collapsed deal has on minority shareholders and Sias called on the board of directors of Singapore Paincare to provide greater…
Read MoreGoldman, JPMorgan see India’s record IPO boom extending to 2026
Fundraising expected to hit US$25 billion in 2026, and for the next few years to reach above US$20 billion [MUMBAI] India’s proceeds from initial public offerings (IPO) in 2026 may hit a record for a third year, with a strong pipeline and buoyant investor demand supporting momentum, said top investment bankers. Kotak Mahindra Capital and…
Read MoreNidec founder and chairman Nagamori quits board after spate of accounting issues
The 81-year-old has voluntarily resigned his post, the world’s largest maker of mini-motors says [TOKYO] Nidec said its founder Shigenobu Nagamori will step down from his position as chairman of the board, following the discovery of a series of accounting issues dating back years. The 81-year-old has voluntarily resigned his post, the world’s largest maker…
Read MoreOpenAI inks deals with US colleges, seizing early lead in education market
The company has sold more than 700,000 ChatGPT licences to about 35 public universities [NEW YORK] OpenAI has established a beachhead at many US colleges, overcoming university administrators’ wariness of artificial intelligence and giving ChatGPT a headstart on becoming the go-to assistant for the next generation of workers. The company has sold more than 700,000…
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