Posts by Stephanie Irvin
US prosecutors recommend Justice Department criminally charge Boeing as deadline looms
US prosecutors are recommending to senior Justice Department (DOJ) officials that criminal charges be brought against Boeing after finding the planemaker violated a settlement related to two fatal crashes, two sources familiar with the matter said. The Justice Department must decide by Jul 7 whether to prosecute Boeing. The recommendation of prosecutors handling the case…
Read MoreBeyond full Asean coverage, GWM aims for localised manufacturing
The Chinese EV brand is launching assembly plants in Malaysia, Vietnam and Indonesia to mitigate protectionism risks GREAT Wall Motor (GWM) prides itself as one of the earliest entrants in South-east Asia and one of the Chinese electric vehicle (EV) brands with the widest outreach in the region, amid strong competition from rivals making vast inroads…
Read MoreSoftBank’s Masayoshi Son aims to create ‘super’ AI in new investment drive
SOFTBANK Group’s big-talking founder Masayoshi Son is back, this time with plans to bring about an era of artificial super-intelligence (ASI). Son sketched out ambitions to help create artificial intelligence (AI) thousands of times smarter than any human, making his most grandiose pronouncements since the Japanese conglomerate began taking steps to shore up its finances…
Read MoreBoeing’s Starliner return to Earth postponed, Nasa says no new date set
BOEING Starliner’s return to Earth from the International Space Station (ISS) with its first crew of astronauts has been postponed, Nasa said on Friday (Jun 21). Nasa did not provide a new date, raising questions about when the mission’s two astronauts will return as more testing and technical issues have created more delays. The return…
Read MoreTata Steel workers in Britain to begin indefinite strike next month
AROUND 1,500 Tata Steel workers in Britain will begin an indefinite strike from Jul 8 over the company’s plans to close two blast furnaces and cut up to 2,800 jobs, the trade union Unite said on Friday (Jun 21). The strike action, described by Unite as the first strikes by British steel workers in 40…
Read MoreVanEck sets 0.2% fee for proposed spot Ethereum ETF
INVESTMENT management firm VanEck plans to charge a fee of 0.2 per cent on its proposed spot Ethereum exchange-traded fund (ETF), according to a US Securities and Exchange Commission (SEC) filing on Friday (Jun 21). The SEC approved applications from Nasdaq, CBOE and NYSE last month to list ETFs tied to the price of ether,…
Read MoreApple to delay launch of AI-powered features in Europe, blames EU tech rules
APPLE will delay launching three new artificial intelligence (AI) features because landmark European Union tech rules require it to ensure that rival products and services can function with its devices, the US tech group said on Friday (Jun 21). Apple underscored its AI push earlier this month with a slew of new features and software…
Read MoreHedge fund Arrowpoint lures CPPIB, Temasek as anchor investors
FORMER Millennium Management Asia executive Jonathan Xiong’s new hedge fund pod-shop has signed up Canada Pension Plan Investment Board (CPPIB) and a unit of Singapore’s Temasek Holdings as additional backers, according to people familiar with the matter. Canada’s largest pension plan and Seviora Capital, a wholly-owned unit of the Singapore state-owned investor, will join Blackstone…
Read MoreAmazon mulls US$5 to US$10 monthly price tag for unprofitable Alexa service, AI revamp
AMAZON is planning a major revamp of its decade-old money-losing Alexa service to include a conversational generative AI with two tiers of service and has considered a monthly fee of around US$5 to access the superior version, according to people with direct knowledge of the company’s plans. Known internally as “Banyan,” a reference to the…
Read MoreJPMorgan wealth head sees China’s economic outlook improving
JPMORGAN Chase is seeing signs of an improving economy in China that will bolster the bank’s business in the country after a sluggish period, its CEO of asset and wealth management Mary Erdoes said. US companies are assessing their prospects in China as its economy recovers unevenly and relations worsen between the two nations. For…
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