Posts by Stephanie Irvin
China hot pot chain Haidilao plans US expansion to escape slump at home
CHINESE hot pot chain Haidilao said it will focus on expanding further into established foreign markets in the coming years, notably the United States, working to draw new customers as diners at home pull back on spending. Super Hi International, the operator of Haidilao’s overseas business, will unveil more outlets in New York and Los…
Read MoreInfineon advance to lower costs for new-generation AI chips
INFINEON Technologies announced a breakthrough in the production of compound semiconductors that it said will help bring down manufacturing costs and speed their adoption for artificial intelligence (AI) applications. The German chipmaker said on Wednesday (Sep 11) it has successfully developed 300 millimetre gallium nitride wafers, which can produce 2.3 times more chips than 200…
Read MoreAdobe to launch generative AI video creation tool later this year
ADOBE will unveil a new generative artificial intelligence (AI) powered video creation and editing tool in a limited release later this year, the software maker said on Wednesday (Sep 11), as it looks to beef up its suite of applications catering to creative professionals. Dubbed Adobe Firefly Video Model, the AI tool will be released…
Read MoreUS crude oil climbs more than US$2 on fears of Hurricane Francine
OIL prices climbed more than 2 per cent on Wednesday, driven by fears of lengthy production shutdowns in the US offshore oil patch, which Hurricane Francine was barreling through on the way to landfall in Louisiana. Brent crude futures settled at US$70.61 a barrel, up US$1.42, or 2.05 per cent, on Wednesday. US crude futures finished up US$1.56…
Read MoreFormer Ping An CEO Jessica Tan to be president of Sun Life Canada
The Singaporean succeeds Jacques Goulet as president of the life insurance company JESSICA Tan, the former co-chief executive officer of Chinese insurance company Ping An, will succeed Jacques Goulet as the president of life insurance company Sun Life Canada on Sep 30. Sun Life said in a statement on Wednesday (Sep 11) that she brings…
Read MoreUS dollar rises after August inflation data
The US dollar rose on Wednesday (Sep 11) after data showed underlying inflation in the world’s largest economy rose in August, reinforcing expectations that the Federal Reserve will likely undertake a smaller rate cut of 25 basis points later this month. The dollar index gained 0.1 per cent to 101.79 as the euro fell versus…
Read MoreHanwha launches voluntary conditional cash offer for Dyna-Mac at S$0.60 a share
SOUTH KOREAN company Hanwha has launched a voluntary conditional cash offer through a special-purpose company to take management control of offshore oil-and-gas contractor Dyna-Mac at S$0.60 a share. The offer price represents a premium of 21.2 per cent over Dyna-Mac’s last-traded price of S$0.495. It also represents premiums of 6.2 per cent, 14.1 per cent,…
Read MoreSabana Reit’s former tenant enters liquidation; Reit manager to mitigate losses
The premises have been renamed to 33, 33A and 35 Penjuru Lane to facilitate multiple tenants THE former master tenant of Sabana Industrial Real Estate Investment Trust’s (Reit) premises at 33 and 35 Penjuru Lane has started the necessary process to enter into a creditors’ voluntary liquidation. In an update on Wednesday (Sep 11), the…
Read MoreSamsung plans global job cuts of up to 30% in some divisions: sources
SAMSUNG Electronics, the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30 per cent of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. South Korea-based Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15 per cent and…
Read MoreBitcoin dips as Kamala Harris and pro-crypto Donald Trump clash in debate
BITCOIN slid as traders reacted to the US presidential debate between Democratic nominee Kamala Harris and Republican rival Donald Trump, who has embraced the crypto sector. The largest digital asset fell more than 2 per cent, changing hands at US$56,330 as at 12.19 pm on Wednesday (Sep 11) in Singapore. Elsewhere in markets, US equity…
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