Posts by Stephanie Irvin
KKR wins control of US$4.4 billion Fuji Soft after clash with Bain
The scramble to take Fuji Soft private is rooted in the value of the software company’s trove of human resources and real estate KKR has secured enough shares of Fuji Soft in a tender offer to take the company private, according to sources familiar with the matter, formally ending a months-long bidding war against Bain…
Read MoreComplex AI chips will drive demand for Lam Research chipmaking tools, CEO says
LAM Research chief executive Tim Archer said on Wednesday (Feb 19) that the thirst for complex artificial intelligence (AI) silicon will push the likes of Taiwan Semiconductor Manufacturing Company (TSMC) to purchase more of the US company’s tools over the next three years. The remarks were part of the first analyst day Lam Research has hosted…
Read MoreSingPost Q3 operating profit down 23.8% at S$21.1 million
SINGAPORE Post’s (SingPost) group operating profit for the third quarter ended December was S$21.1 million, down 23.8 per cent on the year from S$27.7 million. The decrease in operating profit comes as operating expenses for SingPost’s Singapore and International business units outpaced revenue growth. “The decline was driven primarily by ongoing macroeconomic pressures, including…
Read MoreFortescue profit plunges as China’s iron ore demand declines
FORTESCUE’s first-half profit plunged by 53 per cent from the year before as demand for iron ore from the biggest consumer China softened. The slump in net income to US$1.55 billion for the six months to December came despite the company reaching its highest-ever shipments of iron ore for a half-year of 97.1 million tonnes.…
Read MoreSasseur Reit posts 0.1% rise in H2 DPU to S$0.02929 on resilient rental income
THE manager of Sasseur Real Estate Investment Trust (Reit) on Thursday (Feb 20) posted a distribution per unit (DPU) of S$0.02929 for the second half ended December, up 0.1 per cent from S$0.02927 in the previous corresponding period. This was supported by resilient rental income under the Reit’s entrusted management agreement (EMA) model. EMA rental…
Read MoreBeyond Meat pursues new borrowing to shore up liquidity
PLANT-BASED burger maker Beyond Meat is sounding out investors to borrow as much as US$250 million from private credit lenders, its second such attempt in less than 12 months, according to sources with knowledge of the matter. The Los Angeles-based producer of meat substitutes is working with PJT Partners on the outreach for a new…
Read MoreMicrosoft unveils quantum computing chip for future data centres
MICROSOFT announced its first quantum computing chip, a major step in the company’s effort to produce devices that might someday solve problems beyond the reach of modern computers. The company said its Majorana 1 chip harnesses 8 qubits, the building blocks of quantum computing, on a sticky-note-sized piece of hardware it figures could eventually host…
Read MoreFast Company Discusses the Rise of AI Tools in 2025
The past year has marked a pivotal moment in the evolution of artificial intelligence, fundamentally reshaping how we work, create, and interact. From Google DeepMind’s breakthroughs to the ongoing debates about AI’s role in creative industries, 2023 has shown both the tremendous potential and complex challenges of this technology. I recently took some time to…
Read MoreApple to launch new lower-cost iPhone to capture a broader market
APPLE is set to launch its latest budget iPhone model on Wednesday (Feb 19) as it looks to grab a bigger share of the mid-range smartphone market and fend off competition from rivals such Samsung and China’s Huawei. The fourth generation of the lower-cost model, so far known as iPhone SE, will take on popular…
Read MoreSingapore court freezes worldwide assets in US$830 million Novo Nordisk suit
The Danish drugmaker alleges misrepresentations by biotech firm founder Huang Zhenhua about the success of its kidney drug PHARMA giant Novo Nordisk has been granted an injunction by the Singapore International Commercial Court to freeze the worldwide assets of KBP Biosciences founder Huang Zhenhua to the tune of US$830 million. The Danish drugmaker was led…
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