Posts by Stephanie Irvin
US: Stocks rebound as Apple launches iPhone built for AI
WALL Street stocks rose on Monday in a partial rebound from last week’s retreat after a major Apple iPhone launch and ahead of key inflation data. Apple announced new iPhones built for generative artificial intelligence as it hopes to reignite growth after a difficult period for sales. The tech giant’s shares climbed less than 0.1 per cent.…
Read MoreUnitholders of Dasin Retail Trust fail to pass resolutions at EGM convened by requisitionists
UNITHOLDERS of Dasin Retail Trust failed to pass a resolution seeking the removal of the manager of the trust at an extraordinary general meeting (EGM) convened by requisitionists on Monday (Sep 9). A second resolution seeking to internalise the trustee-manager function of Dasin Retail Trust was also not carried as it was conditional upon the…
Read MoreHSBC mulls combining commercial, investment bank to cut costs
HSBC Holdings is weighing combining its commercial and investment bank divisions as part of new chief executive officer Georges Elhedery’s push to eliminate overlapping roles across the company and shed expenses. The effort would bring together HSBC’s global banking and markets business, which caters to large, multinational corporations and houses the firm’s trading and investment…
Read MorePayPal teams up with Shopify in CEO’s latest partnership deal
PAYPAL Holdings added Shopify to its list of recent partnerships, reaching a deal to process some of the payment company’s debit- and credit-card transactions. As part of the agreement, PayPal’s wallet will also integrate with Shopify Payments, according to a statement on Monday (Sep 9). The two companies also teamed up two years ago to…
Read MorePanasonic’s energy unit prepares for high-capacity EV battery production
THE energy unit of Japan’s Panasonic Holdings has finalised preparations for the mass-production of its high-capacity electric-vehicle batteries, the company said on Monday (Sep 9), as it seeks to start supplying the cell to automakers. Panasonic Energy’s renovated plant in the western prefecture of Wakayama will serve as the main factory for producing the 4680…
Read MoreBank of Japan may hike rates by year-end, says ex-FSA senior official
THE Bank of Japan (BOJ) is still in a position to hike rates again by the end of the year given that recent market turmoil has not had a lasting impact, according to a former senior official at Japan’s financial watchdog. “Although the market experienced some turbulence in the past one, two months, I do…
Read MoreAsia: Markets tumble as US jobs data stoke recession fears
ASIAN markets tumbled on Monday after another batch of worse-than-expected US jobs data revived fears about a possible recession in the world’s top economy. The big miss in the August non-farm payrolls reading was compounded by heavily revised down figures for the previous two months and ramped up bets on a Federal Reserve interest rate…
Read MoreSingapore shares open lower on Monday; STI down 0.2%
SINGAPORE equities began Monday (Sep 9) trading in negative territory, as global stocks ended lower last week. As at 9.01 am, the Straits Times Index (STI) dipped 5.92 points or 0.2 per cent to 3,448.55. Across the broader market, losers outnumbered gainers 62 to 30, after 32.4 million securities worth S$21.1 million changed hands. Foundation and…
Read MoreElon Musk says SpaceX to launch first uncrewed Starships to Mars in two years
SPACEX will launch its first uncrewed Starships to Mars in two years when the next Earth-Mars transfer window opens, chief executive officer Elon Musk said on Saturday (Sep 7). “These will be uncrewed to test the reliability of landing intact on Mars,” Musk said, adding if those landings go well, his space company will launch…
Read MoreApple’s iPhone 16 will put AI features in focus
APPLE on Monday (Sep 9) is set to unveil its iPhone 16 lineup, focusing on how its flagship device’s features have been infused with artificial intelligence, rather than its usual emphasis on hardware upgrades. The event at the tech giant’s Apple Park headquarters at 10 am PDT (1700 GMT) follows its developer conference in June…
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