Posts by Stephanie Irvin
Musk to ban Apple devices if OpenAI is integrated into OS
BILLIONAIRE Elon Musk said he would ban Apple devices from his companies if OpenAI’s artificial intelligence (AI) software is integrated at the operating system level, calling the tie-up a security risk. The remarks followed a presentation on Monday (Jun 10) by Apple, when the iPhone maker said that customers would have access to OpenAI’s ChatGPT…
Read MoreSeatrium’s director Lai Chung Han to resign
ONE of offshore and marine (O&M) giant Seatrium’s directors, Lai Chung Han, will resign on Jun 30, 2024. In a bourse filing on Monday (Jun 10), Seatrium said Lai, 51, will be stepping down from his role to assume appointment as permanent secretary (Development) at the Ministry of Finance from Jul 1. Lai will also…
Read MoreEuro tumbles after Macron calls snap French election
THE euro fell sharply on Monday (Jun 10), hit by political uncertainty after gains by the far right in voting for the European Parliament on Sunday prompted a bruised French President Emmanuel Macron to call a snap national election. The uncertainty in France adds one more element to what will be a busy week for…
Read MoreNokia CEO makes world’s first ‘immersive’ phone call
NOKIA CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” that improves the quality of a call with three-dimensional sound, making interactions more lifelike, the company said on Monday (Jun 10). “We have demonstrated the future of voice calls,” said Lundmark, who was also present in the room…
Read MoreFrench bank stocks drop after snap election called
FRENCH stocks fell on Monday (Jun 10) after President Emmanuel Macron dissolved the country’s lower house of parliament and called new legislative elections following a drubbing for his group in European voting on Sunday. BNP Paribas and Societe Generale tumbled more than 5 per cent. The move weighed on broader markets, with the Stoxx…
Read MoreCommonwealth Bank of Australia may exit Vietnamese bank after foreign investor cap vote
VIETNAM International Joint Stock Bank (VIB) shareholders will vote on Tuesday (Jun 11) to lower the cap on foreigners’ holdings, a move which sources said may lead to the exit of its main overseas investor, Commonwealth Bank of Australia (CBA). CBA, Australia’s largest lender, holds 19.8 per cent of VIB’s shares, according to VIB’s latest…
Read MoreNew option by Case and Law Society to resolve consumer-business disputes from Oct 1
CONSUMERS involved in disputes with businesses will soon have another avenue to resolve them. From Oct 1, those who are unable to reach a settlement through the Consumers Association of Singapore’s (Case) mediation centre can opt for a “non-binding neutral evaluation”, said the consumer watchdog and The Law Society of Singapore on June 10. A…
Read MoreBrokers’ take: Phillip Capital initiates ‘buy’ on Oiltek with S$0.70 target price
PHILLIP Capital initiated coverage on Oiltek International with a “buy” call on the company’s growing book orders and its belief that the company is currently riding multiple capital expenditure (capex) cycles. The research house set a price target of S$0.70 for Oiltek, which works out to a price-to-earnings ratio estimate of 15 times. This implies…
Read MoreStandard Chartered sets up first global fund management entity in Singapore
STANDARD Chartered has incorporated its first variable capital company (VCC) in Singapore, the banking group announced on Monday (Jun 10). Its new global fund management entity, Standard Chartered Funds VCC (SC Fund), will enable the group to launch a series of funds catered to its high-net-worth clients. The fund will offer such clients exclusive access…
Read MoreSu Jianfeng gets 17 months jail, the longest sentence among the ten money launderers
MONEY launderer Su Jianfeng, one of the 10 foreign nationals arrested in Singapore’s largest money laundering case, was handed a jail term of 17 months on Monday (Jun 10). This came after the 36-year-old Vanuatu national pleaded guilty to one count of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes Act (CDSA)…
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