Posts by Stephanie Irvin
Intel to cut thousands of jobs to reduce costs, fund turnaround
INTEL plans to eliminate thousands of jobs to reduce costs and fund an ambitious effort to rebound from an earnings slump and market share losses. The workforce reduction may be announced as early as this week, according to sources familiar with the company’s plans, who asked not to be identified because the information is not…
Read MoreP&G posts surprise sales drop as demand slows despite price controls
PROCTER & Gamble posted a surprise drop in fourth-quarter sales, as demand for its Charmin toilet paper and Pampers diapers slowed globally despite efforts to keep prices in check, sending its shares down 5 per cent before the bell on Tuesday (Jul 30). Attempts to raise prices more slowly have not been enough to win…
Read MoreMicrosoft reports outage of some office and cloud services
MICROSOFT said it’s investigating outages of some Office applications and cloud services. “We are investigating reports of issues connecting to Microsoft services globally,” the company wrote in an update on a site to monitor accessibility of its Azure cloud services on Tuesday (Jul 30). The issue is also impacting multiple Microsoft 365 services and features,…
Read MoreBuffett’s sales of Bank of America stock top US$3 billion
WARREN Buffett’s Berkshire Hathaway sold more Bank of America shares, boosting sales to more than US$3 billion this month, taking profits after a big run-up in the second-largest US bank’s stock price. Berkshire sold 18.4 million of the bank’s shares for US$767 million between Jul 25 and Jul 29, according to a Monday (Jul 29)…
Read MoreAztech Global H1 net profit up 8.7% to S$46.7 million
AZTECH Global posted an 8.7 per cent increase in net profit to S$46.7 million for its first half ended Jun 30, 2024, from S$42.9 million in the year-ago period. Revenue for H1 fell 4 per cent to S$373.2 million from S$388.6 million the year before, the Internet of Things (IoT) devices and data communications product…
Read MoreMicrosoft pushes US lawmakers to crack down on deepfakes
MICROSOFT is calling on Congress to pass a comprehensive law to crack down on images and audio created with artificial intelligence – known as deepfakes – that aim to interfere in elections or maliciously target individuals. Noting that the tech sector and nonprofit groups have taken steps to address the problem, Microsoft president Brad Smith…
Read MoreCDL Hospitality Trusts reports unchanged H1 DPS of S$0.0251
CDL Hospitality Trusts’ (CDLHT) net property income (NPI) for the first half ended Jun 30, 2024, rose 5.9 per cent to S$66.5 million, from S$62.9 million in the year-ago period. On Tuesday (Jul 30), the managers of the stapled group reported an unchanged H1 distribution per stapled security of S$0.0251, which was affected by higher…
Read MoreFar East Hospitality Trust’s H1 DPS up 2.1% to S$0.0196
FAR East Hospitality Trust (FEHT) posted a 2.1 per cent increase in distribution per stapled security (DPS) to S$0.0196 for the first half ended Jun 30, from S$0.0192 in the year-ago period. Distribution to stapled security holders grew 2.7 per cent year on year to S$39.5 million. This came on the back of higher net…
Read MoreHewlett Packard set for unconditional EU nod for US$14 billion Juniper deal: sources
HEWLETT Packard Enterprise (HPE) is expected to secure unconditional European Union antitrust approval for its US$14 billion acquisition of networking gear maker Juniper Networks, sources familiar with the matter said. HPE announced the deal in January, underscoring the rush by companies to upgrade and develop new products amid a sharp rise in artificial intelligence-driven services. …
Read MoreNvidia releases software, services to boost rapid adoption of AI
NVIDIA, the world’s most valuable chipmaker, announced a raft of updates to its software offerings that aim to make it easier for a wider variety of businesses to use generative artificial intelligence (AI). The chip company officially released what it calls NIMs, or Nvidia inference micro services, which are software packages that take care of…
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