Posts by Stephanie Irvin
Sam Altman’s rebranded Worldcoin ramps up iris-scanning crypto project
WORLDCOIN, a cryptocurrency project founded by OpenAI CEO Sam Altman, said on Thursday (Oct 17) it was rebranding to World Network and was ramping up efforts to scan every human’s iris using its “orb” devices. Its core offering is its World ID, which the company describes as a “digital passport” to prove that its holder…
Read MoreNetflix beats earnings targets with five million new customers
NETFLIX picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than one million users, and said it expected higher customer growth around the holidays when Korean drama Squid Game returns. Shares of Netflix rose 3.5 per cent to US$711.98 in after-hours trading following the earnings report on Thursday…
Read MoreHuawei suppliers face US lawmaker effort to block chip gear
KEY US lawmakers are pressing the Biden administration to block Huawei Technologies suppliers from buying American chipmaking gear, escalating efforts to prevent the sanctioned Chinese telecom giant from making progress on semiconductor manufacturing. The top Republican and Democrat on the House China Select Committee outlined their concerns in a letter on Oct 16 to…
Read MoreFLCT to acquire Tuas logistics facility for S$140.3 million
FRASERS Logistics & Commercial Trust (FLCT) is set to acquire a six-storey ramp-up logistics facility in Tuas for S$140.3 million. The facility, located at 2 Tuas South Link 1, spans a net lettable area of 56,203 square metres and has an occupancy rate of 85.8 per cent. As at Sep 30, the Green Mark Platinum-certified…
Read MoreFerrari unveils new 3.6 million euro F80 supercar
FERRARI on Thursday (Oct 17) unveiled its new limited edition supercar, which incorporates features from Endurance motor competitions and Formula one and has already sold out despite its 3.6 million euro (S$5.1 million) base price tag. The hybrid butterfly-door F80 is a highlight in Ferrari’s model roll-out strategy aimed at keeping its wealthy customers engaged,…
Read MoreExport growth lifts investor sentiment; STI up 1%
SINGAPORE shares ended higher on Thursday (Oct 17) after the release of September’s export data. The benchmark Straits Times Index (STI) was up 1 per cent or 34.63 points at 3,625.25. Across the broader market, losers outnumbered gainers 296 to 278, after 1.5 billion securities worth S$1.2 billion changed hands. In September, non-oil domestic exports…
Read MoreNetflix’s 340% rally seen sputtering with sales growth past peak
AFTER a breakneck rally that added more than US$230 billion in value, Wall Street is indicating that peak Netflix may have arrived. Shares in the streaming company soared almost 340 per cent from a May 2022 low to their record high earlier this month. Revenue growth has been strong because of a password-sharing crackdown and…
Read MoreGermany’s Merck open to more M&A for its Life Science division
GERMAN science and technology group Merck is open to more acquisitions for its Life Science business after announcing in May it would buy Mirus Bio for US$600 million, it said ahead of its Capital Markets day on Thursday (Oct 17). “Our guiding principle is and always has been, the right target, at the right time,…
Read MoreThai rate cut bodes well for rally in stocks, says bourse chief
Asadej Kongsiri’s optimism underscores relief in the market as a lower borrowing cost eases the pressure of a stronger baht The Thai central bank’s surprise rate cut is likely to provide further momentum to the country’s equity market in the fourth quarter, the local exchange’s chief said. “It gives an optimistic view for the last…
Read MoreNestle announces restructuring, misses nine-month organic sales forecast
NESTLE announced it is revamping senior leadership and its operating structure, cut its full-year sales outlook and reported worse-than-expected nine-month organic sales growth, after failing to raise volumes amid continued price hikes. The Swiss company said on Thursday (Oct 17) that it expects 2024 organic sales growth to be around 2 per cent and an…
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