Posts by Stephanie Irvin
Meta risks fines over ‘pay for privacy’ model breaking EU rules
THE EU accused Facebook owner Meta on Monday (Jul 1) of breaching the bloc’s digital rules, paving the way for potential fines worth billions of euros. The charges against the US tech titan follow a finding last week against Apple that marked the first time Brussels had levelled formal accusations under the EU’s Digital Markets…
Read MoreUK consumer credit bounces back in May, Bank of England says
BRITISH consumers increased their borrowing in May by the most in four months after a dip in April, Bank of England data showed on Monday (Jul 1), adding to signs of recovering momentum in the country’s economy. Consumer borrowing grew by a net £1.5 billion (S$2.6 billion), the most since January and up from a…
Read MoreFrench tech group Atos reaches restructuring deal giving creditors control
ATOS’ creditors reached an agreement with the company that will see them take control of the embattled French IT services company instead of an outside investor. Bondholders and lenders have agreed to convert 2.9 billion euros (S$4.2 billion) of loans and bonds into equity, provide as much as 1.68 billion euros of new debt and…
Read MoreEY Singapore to invest S$100 million in talent development programmes over five years
Additionally, a new management associate programme will allow participants to try different service lines and increase exposure to various industries EY SINGAPORE will invest S$100 million over five years to boost its talent development programmes and improve the attractiveness of the profession, said the financial services giant on Monday (Jul 1). As part of the…
Read MoreCyber insurance rates fall as businesses improve security: report
CYBER insurance premiums are falling globally as businesses become more adept in curbing their losses from cyber crime, even as ransomware attacks are rising, broker Howden said in a report on Monday (Jul 1). Insurance premiums to protect companies against cyber attacks rocketed in 2021 and 2022, as the Covid-19 pandemic drove cyber incidents. But…
Read MoreSIA’s CEO earned S$8.1 million, 20.6% higher in FY2024
Goh’s right-hand men, chief commercial officer Lee Lik Hsin and chief operations officer Tan Kai Ping, each drew a total remuneration of between S$3.5 million and S$3.75 million for FY2024. SINGAPORE Airlines (SIA)‘s chief executive officer Goh Choon Phong earned S$8.1 million – a 20.6 per cent or S$1.4 million increase – in annual remuneration…
Read MoreSIA CEO earned S$8.1 million in FY2024, a 20.6% increase
SINGAPORE Airlines’ (SIA) chief executive officer Goh Choon Phong earned S$8.1 million – a 20.6 per cent or S$1.4 million increase – in annual remuneration for FY2024, a banner year for the flag carrier whose net profit reached an all-time high. According to the annual report published on Monday (Jul 1), Goh’s total remuneration package…
Read MoreGoogle buys stake in Taiwan solar power firm owned by BlackRock
GOOGLE said it has taken a stake in Taiwan’s New Green Power and could buy up to 300 megawatts of renewable energy from the BlackRock fund-owned firm to help cut its carbon emissions and those of suppliers. Companies are being pushed to cut greenhouse gas emissions linked to their operations and value chains by investors…
Read MoreHSBC fights UBS for Asia wealth under former Wall Street banker
THE head of HSBC Holdings’s private bank is planning a fresh recruiting drive as part of her bid to regain the title of Asia’s biggest wealth manager from UBS Group. Annabel Spring is looking to deepen the presence of Europe’s biggest lender in Asia across at least half a dozen territories, partly through recruiting extra…
Read MoreSouth Korea’s SK Hynix to invest 103 trillion won by 2028 in AI, chips
SOUTH Korea’s SK Hynix, the world No 2 memory chip maker, will invest 103 trillion won (S$102 billion) till 2028 to strengthen its chips business, focusing on artificial intelligence (AI), its parent SK Group said on Sunday (Jun 30). SK Group also said it plans to secure 80 trillion won by 2026 to invest in…
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