Posts by Mark Darwin
Morgan Stanley downgrades Indonesian stocks to underweight
INDONESIA’S fiscal policy and a stronger US dollar pose risks to investing in its stocks, strategists at Morgan Stanley wrote in a note while lowering their recommendation. “We see near-term uncertainty over the direction of future fiscal policy stance as well as some weakness in the FX market amid still high US rates and…
Read MoreHSBC adds over 300 to China headcount after Citi wealth acquisition
HSBC said on Tuesday (Jun 11) it had boosted its headcount in China by more than 300, as the Asia-focused lender completed the acquisition of Citigroup’s consumer wealth portfolio in the world’s second-largest economy. The portfolio of investment assets and deposits and clients across 11 major cities in mainland China has also been integrated into…
Read MoreBitcoin drops to one-week low as traders await CPI, Fed decision
BITCOIN wobbled on Tuesday (Jun 11) in a sign of trader nerves ahead of US inflation data and the Federal Reserve’s monetary-policy decision. The largest digital asset slid as much as 2.5 per cent to a one-week low before changing hands at US$68,000 as at 10.42 am in Singapore. Smaller tokens such as Ether and…
Read MoreApple’s AI push could reinvigorate iPhone sales as customers look to upgrade
APPLE’S developer conference on Monday (Jun 10) was about more than infusing its software with the latest artificial intelligence (AI) technology, including from ChatGPT. It was also about selling more iPhones. Facing choppy consumer spending and resurgent tech rivals, Apple has looked to AI as a way to invigorate its loyal fan base of more…
Read MoreUOB Thailand appoints new chief executive
UOB : U11 0% appointed Richard Maloney as the new chief executive of its Thailand operations, effective Jul 1. Maloney will succeed Tan Choon Hin, who will return to Singapore to be deputy head of group governance, risk and compliance, the bank said on Thursday (Jun 11). With the appointment, Vira-Anong C Phutrakul will step…
Read MoreToyota’s faulty certifications also breach UN rules: Yomiuri
THE Japanese government has found that regulatory discrepancies in a number of Toyota Motor cars also breach United Nations standards adopted by 62 countries and regions, the Yomiuri reported on Tuesday (Jun 11) without attribution. While it’s unclear how regulators in each respective jurisdiction would respond, in theory, this means affected models could be ordered…
Read MoreBranson plans one-stop travel shop as Virgin Atlantic turns 40
AS VIRGIN Atlantic Airways celebrates its 40th anniversary, founder Richard Branson plans to more closely integrate the airline with his cruise ships and hotel businesses to offer travellers a one-stop shop. Branson said he would look to make the brands work more seamlessly, with people travelling on Virgin Voyages cruises getting airline loyalty points, while…
Read MoreIntel suspends expansion of factory plan in Israel
INTEL is halting the expansion of a major factory project in Israel, which was going to pump an extra US$15 billion towards a chip plant. The chip giant in December said it was going to expand an ongoing US$10 billion plan at the Kiryat Gat site, in the south of the country, currently under construction. …
Read MoreTesla must face California’s false-marketing claims concerning Autopilot
A CALIFORNIA administrative judge rejected Tesla’s bid to dismiss claims by a top state regulator accusing the automaker led by billionaire Elon Musk of overstating its vehicles’ self-driving capabilities. In a decision on Monday, Judge Juliet Cox of the state Office of Administrative Hearings (OAH) ruled in favour of California’s Department of Motor Vehicles (DMV).…
Read MoreAI to ‘transform’ gaming but costly, Ubisoft CEO tells AFP
GENERATIVE AI will profoundly change how video games are created and played, but its capital costs are a serious hurdle, the CEO of French gaming giant Ubisoft told AFP on Monday. Speaking at a Los Angeles event showcasing upcoming releases, Yves Guillemot said generative AI, or Gen AI, could make open-world games like Ubisoft’s blockbuster…
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